Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-16-2019, 08:31 AM   #4401
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 8,164
Quote:
Originally Posted by Mr._Graybeard View Post
This is such a great thread.
Glad you enjoy, Graybeard, jump on in! ...Bob I didnt answer other part. I sold my MBFPP (MBFIO) to pay it off. I bought that a little over a month ago at 24.20 on a dumping when delistment announcement occured. It is trading again, appreciated $1.50 plus will snag a divi also. Something had to go as my back cant take bending over to collect 50k worth of aluminum cans in ditches.
__________________

Mulligan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-16-2019, 08:37 AM   #4402
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 777
I was not able to get any SIPRY shares, my bid at $25.60 is still sitting there after 2 days,
However, I did buy 10 shares of SLMNP @ $1035.75, so a small consolation prize.
__________________

Coolius is online now   Reply With Quote
Old 05-16-2019, 10:51 AM   #4403
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 8,164
Coolius, welcome to the world of chemical company preferreds! Gotta love the psychological comfort of the owner put.
Mulligan is offline   Reply With Quote
Old 05-16-2019, 11:23 AM   #4404
Recycles dryer sheets
 
Join Date: May 2015
Location: Houston
Posts: 315
What exactly are the SLMNP owner's put rights?

I own some LYB common shares, and might be looking to buy more. Seems quite undervalued to me at this moment.

Thanks!
Slow But Steady is offline   Reply With Quote
Old 05-16-2019, 11:46 AM   #4405
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 8,164
Quote:
Originally Posted by Slow But Steady View Post
What exactly are the SLMNP owner's put rights?

I own some LYB common shares, and might be looking to buy more. Seems quite undervalued to me at this moment.

Thanks!
Slow if you go to LYB SEC filings. Look under their annual report filing and go to page 77. It will state how this Schulman issue can be tendered to LYB at par anytime. The genesis of this issue was a perpetual convertible. Company does not trade anymore so no conversion is possible. So just the perpetual remains. Either buried deep in prospectus from change of ownership or just LYB doing it the put is now installed. I cant link it since I am on phone out and about.
Mulligan is offline   Reply With Quote
Old 05-16-2019, 12:17 PM   #4406
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 777
I finally got a fill for SIPRY, the Spire 5.9% preferred, that I was chasing for the past 2 days. Filled at $25.71, a little higher than I would like ( was trying at $25.65 with no success ).



But the premium over par will be offset by the first 2 dividends, so I will be positioned well at the beginning of next year.


Remains to be seen if this was a poor buy, or not.
Coolius is online now   Reply With Quote
Old 05-16-2019, 12:20 PM   #4407
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 8,164
Well you know for sure it will pay the divie, and that is paramount! Kind of odd your trading platform would not showing the bid and ask, Coolius..All 3 of mine did and that includes lowly TradeKing.
Mulligan is offline   Reply With Quote
Old 05-16-2019, 02:05 PM   #4408
Recycles dryer sheets
 
Join Date: Jan 2008
Location: Flyover America
Posts: 451
Quote:
Originally Posted by Coolius View Post
I finally got a fill for SIPRY, the Spire 5.9% preferred, that I was chasing for the past 2 days. Filled at $25.71, a little higher than I would like ( was trying at $25.65 with no success ).



But the premium over par will be offset by the first 2 dividends, so I will be positioned well at the beginning of next year.


Remains to be seen if this was a poor buy, or not.
I also tried to purchase some at 25.60 but it appears this thread has caused a run up on the price...
capjak is offline   Reply With Quote
Old 05-16-2019, 02:16 PM   #4409
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 8,164
Quote:
Originally Posted by capjak View Post
I also tried to purchase some at 25.60 but it appears this thread has caused a run up on the price...


Cap, this thing closed yesterday at 25.70 and really didnt open up to us peons until 25.50...I have an on line friend who deals with Morgan Stanley brokerage. He is allowed a piece of any IPO offering at its IPO price of $25...And yes he took advantage of it!
I had the low brow trade of the day... Grey market IPLWO at $83 a post 5 year low...And a puny 4.2% par $100 yield too. Got 100 at $88, $85,and $83. Hoping to get the next stop in the $70s at some point. Its been callable since 1950 so being past call 70 years and below par doesnt worry me about a redemption notice, lol...
Why? Because I wanted too, lol...
Mulligan is offline   Reply With Quote
Old 05-17-2019, 12:58 PM   #4410
Thinks s/he gets paid by the post
 
Join Date: Nov 2015
Posts: 1,552
Quote:
Originally Posted by Mulligan View Post
Bob I didnt answer other part. I sold my MBFPP (MBFIO) to pay it off. I bought that a little over a month ago at 24.20 on a dumping when delistment announcement occured. It is trading again, appreciated $1.50 plus will snag a divi also. Something had to go as my back cant take bending over to collect 50k worth of aluminum cans in ditches.
I figured something had to give. The CG should have been worth treating yourself to a steak dinner. I didn't get in on MBFPP, by the time I looked it was already on it's way up. Keep your hook in the water, save the back.
bobandsherry is offline   Reply With Quote
Old 05-17-2019, 04:07 PM   #4411
Recycles dryer sheets
 
Join Date: May 2015
Location: Houston
Posts: 315
Quote:
Originally Posted by Mulligan View Post
Slow if you go to LYB SEC filings. Look under their annual report filing and go to page 77. It will state how this Schulman issue can be tendered to LYB at par anytime. The genesis of this issue was a perpetual convertible. Company does not trade anymore so no conversion is possible. So just the perpetual remains. Either buried deep in prospectus from change of ownership or just LYB doing it the put is now installed. I cant link it since I am on phone out and about.
Thanks, Mulligan.
__________________

Slow But Steady is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 2 (0 members and 2 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Preferred or not preferred lja0703 Stock Picking and Market Strategy 19 02-19-2015 09:52 AM
Fixed to Float Preferred Stock Richard4444 FIRE and Money 5 11-04-2013 05:43 AM
Choosing Between Pre-tax and After-tax Investing ClockWatcher Hi, I am... 10 05-09-2013 07:05 PM
How to sell individual Municipals and Preferred stock JB Stock Picking and Market Strategy 5 12-27-2007 02:28 PM
Third Party Preferred Stock Tony Tampa FIRE and Money 1 04-25-2006 02:47 PM

» Quick Links

 
All times are GMT -6. The time now is 11:53 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.