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Old 03-08-2019, 06:18 PM   #4301
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Ya, I nowhere near those type of trainwrecks!
Stay away from National General Holdings also. It's another one tied up with Amtrust.

I'm moving LMHA to the chopping block. It's up over 15% plus an interest payment since I bought in December and I'm willing to bet that the programs will kick in to sell off PFF, PGX, PSK, and others and create another golden buying opportunity. In the mean time, I will earn 2.3% in a money market while I wait. If I can get two round trips this year with these baby bonds and preferred, It will be pretty stellar year.
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Old 03-11-2019, 03:39 PM   #4302
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I made a mistake. I own some shares in my IRA that issue a K1. The total dividends paid is more than $1,000.

What kind of mess have a gotten myself into, and how expensive will it be to get out of it?
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Old 03-11-2019, 06:33 PM   #4303
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I made a mistake. I own some shares in my IRA that issue a K1. The total dividends paid is more than $1,000.

What kind of mess have a gotten myself into, and how expensive will it be to get out of it?
Total dividends doesn't matter. Look at the K1, box 20, code V (if any). That is your share of unrelated business taxable income (UBTI). If the sum (k1s in IRA) of the code V is greater than $1,000, then a form 990T would need to be filed. The good news.......the custodian of your IRA must file as the owner, not you.

See: https://www.fidelity.com/tax-informa...ax-topics/ubti
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Old 03-11-2019, 08:30 PM   #4304
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Total dividends doesn't matter. Look at the K1, box 20, code V (if any). That is your share of unrelated business taxable income (UBTI). If the sum (k1s in IRA) of the code V is greater than $1,000, then a form 990T would need to be filed. The good news.......the custodian of your IRA must file as the owner, not you.

See: https://www.fidelity.com/tax-informa...ax-topics/ubti
That's what I thought.

It wasn't completely clear from the K1, though, because box 20 just said "STMT", then the statement was "UBTI (Code 20V) If your investment in the Partnership was made through an IRA, Keogh, or other qualified retirement plan, or if you are any other tax-exempt entity, your trustee may be required to report a portion of the taxable income or loss as unrelated to your tax-exempt purpose on IRS Form 990-T (Exempt
Organization Business Income Tax Return)."
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Old 03-12-2019, 05:46 PM   #4305
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If one is looking for a place to “hide out” from low yield risk and dont mind a call, KMPA is laying there in low $25.20s for a 7.3% yield. Just went past call last month, but looks good for at least one more divi minimum since it paid out end of last month.
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Old 03-13-2019, 09:58 AM   #4306
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My CHSCM holding has gone up from 25.13 to 26.76 over the last five weeks. It is almost a whole years worth of dividend. Is it time to think about selling?
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Old 03-13-2019, 11:25 AM   #4307
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My CHSCM holding has gone up from 25.13 to 26.76 over the last five weeks. It is almost a whole years worth of dividend. Is it time to think about selling?
Well, I sold when it got to near $29. Then bought back in ~$25. Too bad you didn't pick up any on 12/20/18 when it was $22+.

Regardless, this is a long term hold, for me, anyway.
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Old 03-13-2019, 12:05 PM   #4308
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If one is looking for a place to “hide out” from low yield risk and dont mind a call, KMPA is laying there in low $25.20s for a 7.3% yield. Just went past call last month, but looks good for at least one more divi minimum since it paid out end of last month.
With money market rates where they are, it's easy and liquid enough to hold a steady there.

Next on my chopping block is COF-PF. I will dispose of these over $26.70 for about a 12% gain.
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Old 03-13-2019, 04:02 PM   #4309
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Preferred Stock Investing-The Good , The Bad and The In Between

MBFIO has had selling and volume pressures this week. MB is being acquired by 5th Third Street Bank. The issue will delist and go to the pink sheets. 5th Street is not redeeming the issue. 5th Street is actually a stronger bank so this is a positive for MBFIO despite lower price. I am sure many owning entities have to sell and cannot own delisted stocks. I went in today and bought at $24.30. Call protected until 2022. A 6% par issue.
I have been back in the get above 6% mode in issues without pushing risk too much. Doesnt appear rates are running away..
Bought more CKNQP in past few weeks also that is call protected until 2024. Even bought smaller amounts of NSS and GLP-A both at even par recently for a little juice... Have a bunch of 5 year fixed reset preferreds off 5 yr USD and 5 yr Canadian dollar bought 20-25% below par. All are reset through 2022 and 2023 except for one which is due for a reset in 2020.
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Old 03-13-2019, 05:07 PM   #4310
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Mul, got any opinion on FPI-B 6% Cumulative issue (call date 9/30/2022)? This is for a friend's portfolio. Thanks, Tony
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Old 03-13-2019, 05:46 PM   #4311
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Mul, got any opinion on FPI-B 6% Cumulative issue (call date 9/30/2022)? This is for a friend's portfolio. Thanks, Tony


Aja, I really dont know. I made like $3 a share on a hit piece a year ago when they cratered. Its hard to figure out the details. What the land was paid for, what its worth, how the rents are going in a down Ag economy. I followed it a lot from interest, but just cant get back in for whatever reason. Many pros and cons articles out there. The terms are nice on the preferreds, but I just dont have anything of real value to help you with.
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Old 03-13-2019, 09:20 PM   #4312
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Aja, I really dont know. I made like $3 a share on a hit piece a year ago when they cratered. Its hard to figure out the details. What the land was paid for, what its worth, how the rents are going in a down Ag economy. I followed it a lot from interest, but just cant get back in for whatever reason. Many pros and cons articles out there. The terms are nice on the preferreds, but I just dont have anything of real value to help you with.
OK, thanks, I can't figure it out either.
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Old 03-14-2019, 10:38 AM   #4313
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MBFIO has had selling and volume pressures this week. MB is being acquired by 5th Third Street Bank. The issue will delist and go to the pink sheets. 5th Street is not redeeming the issue. 5th Street is actually a stronger bank so this is a positive for MBFIO despite lower price. I am sure many owning entities have to sell and cannot own delisted stocks. I went in today and bought at $24.30. Call protected until 2022. A 6% par issue.
I have been back in the get above 6% mode in issues without pushing risk too much. Doesnt appear rates are running away..
Bought more CKNQP in past few weeks also that is call protected until 2024. Even bought smaller amounts of NSS and GLP-A both at even par recently for a little juice... Have a bunch of 5 year fixed reset preferreds off 5 yr USD and 5 yr Canadian dollar bought 20-25% below par. All are reset through 2022 and 2023 except for one which is due for a reset in 2020.
Does the Non-cumulative nature of the issue worry you, at all?
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Old 03-14-2019, 01:58 PM   #4314
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Ken, all bank preferreds are non cumulative. So one has to accept that if they want to invest in financial preferreds. It is regulation not the banks choice.
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Old 03-14-2019, 03:49 PM   #4315
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Ken, all bank preferreds are non cumulative. So one has to accept that if they want to invest in financial preferreds. It is regulation not the banks choice.
OK, I didn't realize they didn't have a choice. This seems like a good play, going from a Ba3 to Baa3 due to the acquisition with a better yield than any 5th 3rd issues.
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Old 03-15-2019, 03:08 PM   #4316
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MBFIO has had selling and volume pressures this week. MB is being acquired by 5th Third Street Bank. The issue will delist and go to the pink sheets. 5th Street is not redeeming the issue. 5th Street is actually a stronger bank so this is a positive for MBFIO despite lower price. I am sure many owning entities have to sell and cannot own delisted stocks. I went in today and bought at $24.30. Call protected until 2022. A 6% par issue.
I have been back in the get above 6% mode in issues without pushing risk too much. Doesnt appear rates are running away..
Bought more CKNQP in past few weeks also that is call protected until 2024. Even bought smaller amounts of NSS and GLP-A both at even par recently for a little juice... Have a bunch of 5 year fixed reset preferreds off 5 yr USD and 5 yr Canadian dollar bought 20-25% below par. All are reset through 2022 and 2023 except for one which is due for a reset in 2020.
MBFIO's volume spiked again today. Share price seems to be holding steady.
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