Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-25-2016, 02:57 PM   #1101
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
$50.03... A 100 more shares .... Better cool my enthusiasm here!


Sent from my iPad using Tapatalk
__________________

__________________
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!

Preferred Stock Investing-The Good , The Bad and The In Between
Old 08-25-2016, 10:49 PM   #1102
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Preferred Stock Investing-The Good , The Bad and The In Between

May want to watch opening and see if selling spikes stock lower for AES-C if interested. Sometimes you get a real quick drop before buyers step in... With common and bonds acting just fine, this seems very peculiar for a 5% drop of the preferred this month. I monitor the stock though admittedly this is such a complex company I could never be "in the know" on anything. I just have to go by birds eye view... Just this month management stated 1) paid down 300 million of parent debt, exceeding target by 50% 2)Reduced parent debt by 27% (1.7 billion) since 2011 3) No maturities due until 2019 and only $240 million that year 4) reduced floating rate exposure and refinanced lower yielding debt 5) Reduced parent leverage ratio from 6.5 to 5..... Im just looking to get paid not see a spectacular company. Getting paid seems pretty easy with no debt roll over stress for several years so this seems pretty good... They also are increasing free cash flow and will be looking to raise common dividend.
I will be golfing tomorrow which is good...as I may be tempted to buy more if it drops again... This company has huge loads of debt, thus the preferreds chronic habitual low credit rating for preferred. But around 2/3 to 3/4 of it, is non recourse debt held by subsidiaries not the parent obligation. That is why they refer to parent debt above... Debt holders of subsidiaries could be stiffed while parents obligations can still be paid.
Still I consider this a riskier endeavor on line with my CoreLogic trust preferred debt issue I own. But at this point I would rather try a bit of this than chase 5% issues.... I just don't need to go crazy over it.


Sent from my iPad using Tapatalk
__________________

__________________
Mulligan is offline   Reply With Quote
Old 08-26-2016, 06:21 AM   #1103
Full time employment: Posting here.
 
Join Date: Jul 2002
Posts: 850
Quote:
Originally Posted by Coolius View Post
Used to own AES-C, but sold ou for a loss about 2 years ago, can't remember why now.

Might look at getting some to replace the lost income from BGLEN & EYMXP.

Not many alternatives out there in Preferred land. Not many at all.
Was there some news concerning EYMXP? It's down to within 1-2 divi of call recently, my comfort zone.

With schools starting, I've had little time to monitor my investments in last two weeks.
__________________
RE2Boys is online now   Reply With Quote
Old 08-26-2016, 06:30 AM   #1104
Recycles dryer sheets
 
Join Date: Jul 2013
Posts: 106
I'm pretty sure EYMXP has been called along with some others.
__________________
alaska55 is offline   Reply With Quote
Old 08-26-2016, 08:40 AM   #1105
Thinks s/he gets paid by the post
Sunset's Avatar
 
Join Date: Jul 2014
Location: Chicago
Posts: 2,789
Quote:
Originally Posted by Mulligan View Post
$50.03... A 100 more shares .... Better cool my enthusiasm here!
Sent from my iPad using Tapatalk
I just picked up 400 shares at $50.03 , I had a buy order in early this morning for $50.11 and $50.12 so its really nice getting it cheaper.

Out of interest, one of the orders was filled a bit oddly:
Quantity: 1
Quantity: 139
Quantity: 60
__________________
Sunset is offline   Reply With Quote
Old 08-26-2016, 08:50 AM   #1106
Thinks s/he gets paid by the post
Sunset's Avatar
 
Join Date: Jul 2014
Location: Chicago
Posts: 2,789
The odd or dangerous part of preferred shares is that the call information is pretty obscure. So it would be easy to buy something that has in fact been already called.
Unlike dividend dates that are published in lots of places (for stocks), these calls which dramatically affect preferred stocks are pretty hidden to me.

In fact as terrible as it sounds, my best source for knowing is right here

If anyone wants to tell me how to find out about calls, I'd be happy to know.
__________________
Sunset is offline   Reply With Quote
Old 08-26-2016, 09:40 AM   #1107
Full time employment: Posting here.
 
Join Date: Jul 2002
Posts: 850
Quote:
Originally Posted by Sunset View Post
The odd or dangerous part of preferred shares is that the call information is pretty obscure. So it would be easy to buy something that has in fact been already called.
Unlike dividend dates that are published in lots of places (for stocks), these calls which dramatically affect preferred stocks are pretty hidden to me.

In fact as terrible as it sounds, my best source for knowing is right here

If anyone wants to tell me how to find out about calls, I'd be happy to know.
Very obscure, I've spent some time searching Entera investor relations and othe websites this morning regarding EYMXP that is "rumored" to have been called but have found nothing so far. Was about to purchase some additional shares or possibly a cousin EGXKP. Purchase on hold for now.
__________________
RE2Boys is online now   Reply With Quote
Old 08-26-2016, 09:53 AM   #1108
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 543
Quote:
Originally Posted by RE2Boys View Post
Very obscure, I've spent some time searching Entera investor relations and othe websites this morning regarding EYMXP that is "rumored" to have been called but have found nothing so far. Was about to purchase some additional shares or possibly a cousin EGXKP. Purchase on hold for now.

I believe EGXKP has been called, but could not find the SEC filing.

Also found nothing official on EYMXP, but the stock is trading in anticipation of a call - will talk to broker next week to find out, and update if anything is new.
__________________
Coolius is offline   Reply With Quote
Old 08-26-2016, 11:06 AM   #1109
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 11,549
Heck, if it were not for Mulligan I would not have known BGLEN was going to be called... found out officially when it was posted on my Vanguard account... but STILL cannot find anything filed with the SEC about the call... the only thing was a sentence on their last debt issue...

OH... also put in a bid for AES C.... but did not get any.... seems Sunset got a great price and then it started to go back up...

Oh well....
__________________
Texas Proud is offline   Reply With Quote
Old 08-26-2016, 03:32 PM   #1110
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Coolius View Post
I believe EGXKP has been called, but could not find the SEC filing.

Also found nothing official on EYMXP, but the stock is trading in anticipation of a call - will talk to broker next week to find out, and update if anything is new.


SEC filings show EGXKP will be called... It was in a bond filing... They never refer to them by ticker. They said directly they "would be" calling the 6.08 % and 6.45% issue... It just hasnt happened yet. But they are issuing the 4.75% baby bond to clean up other higher debt and calling those shares...
I havent seen a EYMXP call notice either...But I agree with Coolius...I bougnt 300 shares several weeks ago and it started trading "funny" so I ditched with a nickel loss, on a lucky quick spike at $25.95. I am through with the Entergy issues... The ones not at call risk are too low for me..


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-26-2016, 03:35 PM   #1111
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Sunset View Post
I just picked up 400 shares at $50.03 , I had a buy order in early this morning for $50.11 and $50.12 so its really nice getting it cheaper.

Out of interest, one of the orders was filled a bit oddly:
Quantity: 1
Quantity: 139
Quantity: 60


Great price, Sunset...Congrats!!! If you are buying because I brought attention to it, I hope we did the right thing, so you wont blame me, ha!
I actually am very encouraged...When illiquids come under intense sell pressure such as AES-C has, the tendency is the price to buckle pretty smartly...The buckling actually occurred more early on in process the past week. It held up pretty good past three days considering how much float churned last few days.


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-26-2016, 03:37 PM   #1112
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Texas Proud View Post
Heck, if it were not for Mulligan I would not have known BGLEN was going to be called... found out officially when it was posted on my Vanguard account... but STILL cannot find anything filed with the SEC about the call... the only thing was a sentence on their last debt issue...

OH... also put in a bid for AES C.... but did not get any.... seems Sunset got a great price and then it started to go back up...

Oh well....


I still havent seen a notice. But trust what you all have said, and stock is acting odd to...Hey, I made $1 profit on my past call notice purchase a few days ago...Got lucky. Still ticked BGE hasnt sent official SEC notice like you found on BGLEI...Seems so odd...


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-26-2016, 03:39 PM   #1113
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Texas Proud View Post
Heck, if it were not for Mulligan I would not have known BGLEN was going to be called... found out officially when it was posted on my Vanguard account... but STILL cannot find anything filed with the SEC about the call... the only thing was a sentence on their last debt issue...

OH... also put in a bid for AES C.... but did not get any.... seems Sunset got a great price and then it started to go back up...

Oh well....


Texas, I guess you have noticed CVB crawling upward in price...Its getting close to spitting out that 37.5 cent divi here in a few days.


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-26-2016, 06:00 PM   #1114
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 11,549
Well, just calculated my annualized return on BGLEN... 4.0%... which is better than a loss...

And yes, I looked it up.. on 8/24 at 1:04 AM Vanguard gave me notice of the call... but, if you do not log in you do not get the notice..


But... I just signed up for alerts, so I hope to get an email next time something like this happens....
__________________
Texas Proud is offline   Reply With Quote
Preferred Stock Investing-The Good , The Bad and The In Between
Old 08-26-2016, 08:32 PM   #1115
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Preferred Stock Investing-The Good , The Bad and The In Between

Must be an internal email...I never check those...Shame on me! Hey a profit is a profit! I know its not natural to do, but with these past call, above par issues higher paying preferreds, you have to treat them like a hired prostitute (not that I would know, as I never have had one, but I digress...) You buy them and you flip them and buy them and flip them...Over and over, even on a couple bucks or so....This is how I build in my profits, so when they call I squeezed more profits from them. You have to assume every day they are going to call them.
Admittedly this is getting harder, but there are always opportunities... Like KTH... Although it is not callable, I wore this thing out like a belt to a red headed step child. It pays $2 a year in dividends...I bet a half dozen times or more I bought 500-700 shares at a time and bought in $32's and sold in $34s over and over...Thought that gig was over and less than just a month ago it feel right back into my lap one day and 5 days later I beat its rear yet again for another $2 share flip profit.
Any time one of those drops, I sell from a preferred that has gained in value from purchase, flip it and then buy immediately into the one like KTH for example that just had a sell off.. It has really juiced my returns this year...I am up 15% this year just basically flipping 6% issues, over and over...


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-27-2016, 02:16 AM   #1116
Recycles dryer sheets
 
Join Date: May 2015
Location: Houston
Posts: 246
I'm still trying to clear my head of that image of Mulligan flipping that hired prostitute over and over.

Other than that I'm having a great vacation and trying not to think about buying or selling anything.

(Was my remark in poor taste for a family rated channel? I guess I'll soon find out.)
__________________
Slow But Steady is offline   Reply With Quote
Old 08-27-2016, 07:09 AM   #1117
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Slow But Steady View Post
I'm still trying to clear my head of that image of Mulligan flipping that hired prostitute over and over.



Other than that I'm having a great vacation and trying not to think about buying or selling anything.



(Was my remark in poor taste for a family rated channel? I guess I'll soon find out.)


No we cant be talking about that kind of flipping. Not because its a family channel, but because we would have to move this thread to the Health forum as at my age it would then become a back, hip, and knee issue thread .


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-27-2016, 07:11 AM   #1118
Recycles dryer sheets
 
Join Date: Sep 2014
Location: Grapetown
Posts: 303
Quote:
Originally Posted by Sunset View Post
The odd or dangerous part of preferred shares is that the call information is pretty obscure. So it would be easy to buy something that has in fact been already called.
Unlike dividend dates that are published in lots of places (for stocks), these calls which dramatically affect preferred stocks are pretty hidden to me.

In fact as terrible as it sounds, my best source for knowing is right here

If anyone wants to tell me how to find out about calls, I'd be happy to know.
My past experience with Fidelity, a preferred share that is called, has it's ticker symbol changed with a -cld or -clx suffix.
__________________
Winemaker is offline   Reply With Quote
Old 08-27-2016, 07:32 AM   #1119
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Quote:
Originally Posted by Sunset View Post
The odd or dangerous part of preferred shares is that the call information is pretty obscure. So it would be easy to buy something that has in fact been already called.
Unlike dividend dates that are published in lots of places (for stocks), these calls which dramatically affect preferred stocks are pretty hidden to me.

In fact as terrible as it sounds, my best source for knowing is right here

If anyone wants to tell me how to find out about calls, I'd be happy to know.


Winemakers post and my morning coffee made me think to reply... Yes preferred calls can be very quite. But if you can find them first, it allows you to bolt first out the door. That is what I did when I read BGE preferreds were on chopping block in a bond offering. I did it on a few others and Texas has done it also. Usually it is released in an SEC filing under the subsidiary that is calling or the parent itself.
I would say unusual trading volume can indicate possible calls, but that is not very reliable at all. I made good money on buying BGE issues past 18 months on heavy volume dump days.


Sent from my iPad using Tapatalk
__________________
Mulligan is offline   Reply With Quote
Old 08-29-2016, 09:15 PM   #1120
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,707
Went back to my favorite and biggest holding by far. Bought 655 additional shares of AILLL at $26.41 and $26.35 today. Next divi has been declared.


Sent from my iPad using Tapatalk
__________________

__________________
Mulligan is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 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 10:52 AM
Fixed to Float Preferred Stock Richard4444 FIRE and Money 5 11-04-2013 06:43 AM
Choosing Between Pre-tax and After-tax Investing ClockWatcher Hi, I am... 10 05-09-2013 08:05 PM
How to sell individual Municipals and Preferred stock JB Stock Picking and Market Strategy 5 12-27-2007 03:28 PM
Third Party Preferred Stock Tony Tampa FIRE and Money 1 04-25-2006 03:47 PM

 

 
All times are GMT -6. The time now is 07:31 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.