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Old 06-18-2016, 04:53 PM   #821
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Would anyone else be willing to share what portion of your overall portfolio is invested in the issues we're discussing here?

I think it would be appropriate for me to have 25% or so of my fixed income investments in these issues, if I can get them at a reasonable price. Would you agree or disagree?

Thanks!

Slow

I have about 60% of my portfolio in Preferred issues. Add to that 30% of individual corporate bonds, and I end up with a portfolio that is unlikely to be adopted by most folks. The rest is comprised of a few Blue Chip stocks, plus couple of MLP and CEFs.

Would not blame anyone if they stayed very far away; but it works for me.
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Old 06-18-2016, 05:10 PM   #822
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I shoot for 40% fixed income, of which 25% might be the preferred issues. So 10% overall.

At the moment, I'm paying Schwab 0.6% to choose a basket of individual bonds that, all told, make up another 10% or so.

The rest is split among DBLTX, BOND, MWTIX, PONDX, and a couple other bond funds.
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Old 06-18-2016, 11:36 PM   #823
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I'm still looking to buy more, but would cap it at 5% to 10% of total.
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Old 06-19-2016, 05:44 AM   #824
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Ten percent and I, too, consider it as part of my bond allocation.
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Old 06-20-2016, 04:10 PM   #825
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Well, easy come easy go...

BGLEN was down $4.60 today.... over $1,000 lost...

I was thinking that it was going up and going to stay, but alas, not...


No big deal... I am still up a few dollars and I do not find anything saying it was called.... so just back to where I was when bought...
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Old 06-20-2016, 04:31 PM   #826
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Well, easy come easy go...

BGLEN was down $4.60 today.... over $1,000 lost...

I was thinking that it was going up and going to stay, but alas, not...


No big deal... I am still up a few dollars and I do not find anything saying it was called.... so just back to where I was when bought...


The last price of $106 was way too high to be realistic and cannot be sustained, so in a way I am relieved it has come down to a more reasonable level.

I doubt BGLEN will be called anytime soon; they have not yet disbursed the cash from the BGLEI/BGLEP call, and will need to replenish their coffers before calling the next tranche. If they had the money they would have called all 4 issues at the same time.

If I had to hazard a guess at when a call could come, I'd go for sometime in early 2017.
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Old 06-20-2016, 08:11 PM   #827
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The last price of $106 was way too high to be realistic and cannot be sustained, so in a way I am relieved it has come down to a more reasonable level.

I doubt BGLEN will be called anytime soon; they have not yet disbursed the cash from the BGLEI/BGLEP call, and will need to replenish their coffers before calling the next tranche. If they had the money they would have called all 4 issues at the same time.

If I had to hazard a guess at when a call could come, I'd go for sometime in early 2017.


Im trying for one other issue... Gave me 15 shares on a 150 bid...Idiots..But Im trying again tomm. If not I will continue buying more of that at that price. No lose price... I wish it would drop a dollar more and I would sell everything I could get a fair price on load up solely on that issue.


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Old 06-22-2016, 12:59 PM   #828
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Those doggone partial fills... I see that one share of CVB changed hands today at $10.93. I would hate to pay a commission on that trade.
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Old 06-22-2016, 02:56 PM   #829
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Those doggone partial fills... I see that one share of CVB changed hands today at $10.93. I would hate to pay a commission on that trade.


Well I have been a proud owner of one share of HE-U myself for many months now! I have been rolling over my portfolio and emptying the cash vault... Will have to post what I have after I look at it all, ha!


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Old 06-23-2016, 08:39 AM   #830
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Well I have been a proud owner of one share of HE-U myself for many months now! I have been rolling over my portfolio and emptying the cash vault... Will have to post what I have after I look at it all, ha! Sent from my iPad using Tapatalk
Mul-Are you a churner You need another hobby��
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Old 06-23-2016, 10:14 AM   #831
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If the vote for Brexit is to remain, the banks will likely benefit, as such WFC-L is still an attractive buy at a 5.95% yield with no call risk.

Especially compared to the yield of the other outstanding WFC preferreds, which are around the low 5% level.

However, as I bought most of my shares in the $1,195 range, it is difficult for me to buy more shares at present price - so I continue to struggle with indecision.

At the same time, there is no intention to sell what I have.

Wonder if other WFC-L owners on the board have similar thoughts?
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Old 06-23-2016, 10:36 AM   #832
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Coolius - I bought WFC-L at 1164 for our account and 1170 for my Mom's. Small amounts - only 10 shares and 11 shares, respectively. I tend to wade in slowly. I don't intend to sell and might buy more at those levels. 1259 seems too high.
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Old 06-23-2016, 10:43 AM   #833
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I chased WFC-L at $1,205 when it was moving up. I thought that was way overpriced when I did it. You never can tell. Wish it would come down again.
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Old 06-23-2016, 11:01 AM   #834
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Coolius - I bought WFC-L at 1164 for our account and 1170 for my Mom's. Small amounts - only 10 shares and 11 shares, respectively. I tend to wade in slowly. I don't intend to sell and might buy more at those levels. 1259 seems too high.

Golden Sunsets, I, too, hope WFC-L will get back below $1,200. But that would be a 6.25% yield for a top quality bank preferred, especially with the ultra-low conversion call risk, and QDI dividends - and might not happen for a long time.

Congrats on buying your shares at a great price; my cost basis is high because I started buying at $1,200 in June 2015, and watched it go down, down, down to $1,140. That was a difficult time. On the other hand, I have enjoyed about 4 dividends since purchase.

Yeah, a tough decision whether to buy more or not, at these levels.
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Old 06-23-2016, 11:09 AM   #835
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If the vote for Brexit is to remain, the banks will likely benefit, as such WFC-L is still an attractive buy at a 5.95% yield with no call risk.

Especially compared to the yield of the other outstanding WFC preferreds, which are around the low 5% level.

However, as I bought most of my shares in the $1,195 range, it is difficult for me to buy more shares at present price - so I continue to struggle with indecision.

At the same time, there is no intention to sell what I have.

Wonder if other WFC-L owners on the board have similar thoughts?
I have 25@ $1167 and can not force myself to buy more above 1200, I was thinking these preferred would go down slightly or stay even, had no idea they were growth stocks....
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Old 06-23-2016, 01:02 PM   #836
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Preferred Stock Investing-The Good , The Bad and The In Between

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Mul-Are you a churner You need another hobby��


I think my hobbies are part of the problem, Golden. I get up early to play golf and tennis and am tired when I am done so I sit in my chair and rest and play with my stocks.
In fact I made an aggressive move yesterday and today...Bought 500 shares of PVTBP. A TRUP from PrivateBank (PVTB). A juicy 10% par yield. They called half of issue in 2013 and have left the rest... These TRUPs are very special to grandfathered banks under $15 Billion. They get to right off the interest debt and still count as Tier 1 capital. Their tax rate was around 37% so the savings is significant on the par yield. Management said last conference call they have no current plans to do anything with it. Looking at chart there appears opportunity to snag a few of those juicy 62.5 cent dividends and then dine and dash...
Also have been buying recently more of my biggest issue AILLL... Huge cap ex spending, highly profitable, cash flow negative....prefect recipe not to mess with a tiny insignificant issue. And calling and reissuing a new one is a ridiculous thought. Besides, they use collective yield of the entire preferred series when making rate case. They show collectively as under par and "cheap capital" so nothing is happening here... More 6% coming my way...
Did buy some HAWEL under call price also...and SSWN too recently.
Recently sold many that were some nice cap gains so my lineup is a bit different now...
AILLL/AILNP (huge) BGLEN (fairly huge, too), CTWSO, SIVBO, OSBCP, NGHCZ, SSWN, EGYKP, UEPCO, PVTBP, and HAWEL.


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Old 06-23-2016, 01:45 PM   #837
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Bought 500 shares of PVTBP. A TRUP from PrivateBank (PVTB). A juicy 10% par yield. They called half of issue in 2013 and have left the rest... These TRUPs are very special to grandfathered banks under $15 Billion. They get to right off the interest debt and still count as Tier 1 capital.
I think you said that SIVBO is the same situation. Is that right?

How can you track down these kinds of situations?
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Old 06-23-2016, 01:48 PM   #838
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I think you said that SIVBO is the same situation. Is that right?

How can you track down these kinds of situations?


Yes SIVBO, OSBCP, and PVTBP are in exact same situations with being able to allow trust preferreds to be treated as Tier 1 cap despite being in essence a bond. I dug deeply and slowly into the Quantumonline table format in a subsection of the website page. I looked under section of "trust preferreds".


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Old 06-23-2016, 02:01 PM   #839
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Yes SIVBO, OSBCP, and PVTBP are in exact same situations with being able to allow trust preferreds to be treated as Tier 1 cap despite being in essence a bond. I dug deeply and slowly into the Quantumonline table format in a subsection of the website page. I looked under section of "trust preferreds".

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Thanks!

I bought a few more SIVBO today. I will have to dig in to Quantumonline and see what else I can find. Probably after I retire, though. I have three more weeks.
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Old 06-23-2016, 10:53 PM   #840
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I have 25@ $1167 and can not force myself to buy more above 1200, I was thinking these preferred would go down slightly or stay even, had no idea they were growth stocks....
You have in WFC-L a perpetual bond paying 6 percent but yet with a favorable 15% tax rate, long term the cap is 1300 on price if WFC were to ever take off and soar and that is the buyout price so under 1300 you get to keep the 6 percent more or less. In the present interest rate enviroment it is difficult to get a high quality corporation paying a dividend at such a rate. I am shocked it is not over 1300
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