Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-11-2017, 09:24 AM   #1701
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 1,972
Quote:
Originally Posted by Winemaker View Post
I usually buy only $5000 worth to limit exposure. When rates started to rise or were supposed to rise I added to the position because this was a floater.
The $5k +/- self-imposed limit is also what I typically try to follow for preferred issues - I might pick up a $3,000-$3,500 position in the common if I think it's a decent risk-adjusted yield play (mainly for BDCs). I did own ISM/OSM in the past, way back when they were first discussed on the forum, but sold before the plunge a few years ago. I was too afraid of all of the uncertainty surrounding if student loans would be detached from gov't oversight, if they would kick Sallie to the curb from the gov't halfway house and make her fend for herself (and not have near the value without the gov't backstop on the loans), so I didn't want to touch it with a 20ft pole.

Of course, given some of the other crazy risk decisions I've made (damn shipping companies....ahem), you'd probably ask why I didn't try a encore attempt with ISM/OSM. But, one of those many investing regrets.
__________________

__________________
Dryer sheets Schmyer sheets
MooreBonds 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 02-11-2017, 09:28 AM   #1702
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 1,972
Quote:
Originally Posted by Mulligan View Post
I have been reading articles and am connecting the dots on what they are trying to do by acquiring the Pa utility and creating the part ownership subsidiary of Leatherstocking which pipes the gas out of shale country.
As other parts of the nation protest a pipe being built... CNIG is going opposite way stirring the restless natives to protest why the pipeline HASNT been built yet. Accretive bolt ons to service unserviced populations will really boost returns on a company servicing only 15,000 now.
Crouch: "Cuomo Needs to Snap on a Pair and Approve Constitution Pipeline"Natural Gas Now
You do have an interesting idea....if it weren't for the massive ownership by 2 intelligent people and possible growth, I would laugh off a 3% ute at 20-25x earnings with a microcosm service area - but if our new house bids somehow come in at budget (a true impossibility, given the interior designer's whims), I might scare up a few grand to throw at the roulette wheel.
__________________

__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Old 02-11-2017, 10:08 AM   #1703
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,554
Quote:
Originally Posted by Mulligan View Post
RunningMan, I forgot to mention, but the PE is a little artificially distorted due to the Pike utility transaction...They clearly got a deal on this.
In 2016, our consolidated net income was approximately $3.1 million, an increase of approximately $1.3 million from 2015, mainly due to the bargain purchase adjustment for the stock acquisition of Pike of $1.2 million. This is a one-time transaction related to the acquisition of Pike in August.

I have been reading articles and am connecting the dots on what they are trying to do by acquiring the Pa utility and creating the part ownership subsidiary of Leatherstocking which pipes the gas out of shale country.
As other parts of the nation protest a pipe being built... CNIG is going opposite way stirring the restless natives to protest why the pipeline HASNT been built yet. Accretive bolt ons to service unserviced populations will really boost returns on a company servicing only 15,000 now.
Crouch: "Cuomo Needs to Snap on a Pair and Approve Constitution Pipeline"Natural Gas Now
They also only had one monthís worth of margin from operation of the Pike acquisition and that income was over $300,000.
__________________
Running_Man is offline   Reply With Quote
Old 02-11-2017, 10:41 AM   #1704
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Quote:
Originally Posted by Running_Man View Post
They also only had one monthís worth of margin from operation of the Pike acquisition and that income was over $300,000.


In the scheme of things this is one tiny pimple on a rear company. It would have to get bigger to be eaten by a big player as their earnings wouldnt even make a footnote on a big player, lol. They are wanting to get nat gas to bolt on areas and a few big corps that I am sure is wanting the service.
The small companies can be so incestuous it would be hard to tell whether a peon outside investor like me would be the windshield or the bug until after the event, lol. I do see why companies issue preferred stock offerings only to existing shareholders (besides keeping the goodies themselves). They save a boatload avoiding underwriting costs. It only cost them $1100 in SEC filings to issue the CNIGO and CNIGP issues.
__________________
Mulligan is offline   Reply With Quote
Old 02-14-2017, 10:51 AM   #1705
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,554
And with a few hawkish comments Yellen is running interest rates back up towards the top of the recent trading range. This is interesting, companies reporting declining sales, FED talking about economy running too hot. Next interest rate hike should be a doozy
__________________
Running_Man is offline   Reply With Quote
Old 02-15-2017, 09:19 PM   #1706
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Quote:
Originally Posted by Running_Man View Post
And with a few hawkish comments Yellen is running interest rates back up towards the top of the recent trading range. This is interesting, companies reporting declining sales, FED talking about economy running too hot. Next interest rate hike should be a doozy


Inflation number a bit hot today, but the trend will be hard to keep at this pace. Rates crept up more today, yet preferreds kept snoozing today.
__________________
Mulligan is offline   Reply With Quote
Old 02-16-2017, 06:16 AM   #1707
Recycles dryer sheets
 
Join Date: Sep 2014
Location: Grapetown
Posts: 424
Picked up 200 shares KIMPRJ at $23.65, yielding 5.85%. I can stomach this for a while.
__________________
Winemaker is offline   Reply With Quote
Old 02-16-2017, 07:04 AM   #1708
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Quote:
Originally Posted by Winemaker View Post
Picked up 200 shares KIMPRJ at $23.65, yielding 5.85%. I can stomach this for a while.


Was you partaking of the wine early yesterday? That purchase isnt what I know you to buy. I thought you were "Give me adjustables or give me death".
__________________
Mulligan is offline   Reply With Quote
Old 02-16-2017, 06:30 PM   #1709
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Pleased to snag 100 shares of AILNP today at $109. 75 came early and 25 were tossed in right before market close. Getting a nice little collection through the years of this bad boy.
__________________
Mulligan is offline   Reply With Quote
Old 02-16-2017, 08:25 PM   #1710
Recycles dryer sheets
 
Join Date: Sep 2014
Location: Grapetown
Posts: 424
Quote:
Originally Posted by Mulligan View Post
Was you partaking of the wine early yesterday? That purchase isnt what I know you to buy. I thought you were "Give me adjustables or give me death".
No, I only had a Goldman, a Morgan Stanley, and the OSM as a floater to protect against rising rates. The OSM, as you know was called. I will opt to increase my $5000 issue limit, and dollar cost down if rates rise enough to decrease my initial cost/ increase yield. It's been 8 years in this preferred market investment world, and feel fairly calm about it's direction.
__________________
Winemaker is offline   Reply With Quote
Old 02-23-2017, 08:11 PM   #1711
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Did some moving around the other day. Bought 200 shares of MHO-A. Juicy yield of close to 10% QDI, and doing fine now. But keeping an eye on it. Shameless yield grab of over 10% JCPenny debt (JBN) of 400 shares on Monday, also. Bought back 400 shares of CFC-B at $25.61 after sell them last week at $25.68 to free up quick cash for the AILNP trade that I was caught short cash handed at the time.
__________________
Mulligan is offline   Reply With Quote
Old 02-24-2017, 01:47 PM   #1712
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 104
Quote:
Originally Posted by capjak View Post
Here my list...hoping to hold steady

AILLL 2525 shares
CNLPL 800 shares
CNTHP 650 shares
CHS 100 shares
KTH 500 shares


PFF 750 shares
Milestone: Have reached $300,000+ in Mulligan preferred Funds....getting a little concerned

AILLL 2525
CNPL 800
CNTHP 650
CHSCM 899
KTH 500
WFC+J 500
WFC+L 50
AHTPRA 470
PFF 1500
__________________
capjak is offline   Reply With Quote
Old 02-24-2017, 02:09 PM   #1713
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 559
I do not recognize the symbol CNPL.

Could you have meant CNLPL ?
__________________
Coolius is offline   Reply With Quote
Old 02-24-2017, 03:40 PM   #1714
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Quote:
Originally Posted by Coolius View Post
I do not recognize the symbol CNPL.

Could you have meant CNLPL ?


If I was a betting man (and I am) I would push all the chips in on it being CNLPL. It appears to me Capjack likes issues that will pay without fear. Solid lot, there Cap!
Going by memory my current roster is AILLL, AILNP, CNIG, CNTHP, CNLPL, FIISO, CFC-B, JBN, UBP-F, CTWSO, and MHO-A.
Currently getting nowhere, but got bids out on two bombed out ultra safe issues that are uncallable. One of them only has 800 shares left outstanding...But with 175 times dividend coverage, I aint going to give up quickly. But last 10k I read from a few years back said only 4 owners were left so my hopes arent too high on that one.
__________________
Mulligan is offline   Reply With Quote
Old 02-24-2017, 04:16 PM   #1715
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 104
Quote:
Originally Posted by Mulligan View Post
If I was a betting man (and I am) I would push all the chips in on it being CNLPL. It appears to me Capjack likes issues that will pay without fear. Solid lot, there Cap!
Going by memory my current roster is AILLL, AILNP, CNIG, CNTHP, CNLPL, FIISO, CFC-B, JBN, UBP-F, CTWSO, and MHO-A.
Currently getting nowhere, but got bids out on two bombed out ultra safe issues that are uncallable. One of them only has 800 shares left outstanding...But with 175 times dividend coverage, I aint going to give up quickly. But last 10k I read from a few years back said only 4 owners were left so my hopes arent too high on that one.
Correct.....CNLPL......
__________________
capjak is offline   Reply With Quote
Old 02-24-2017, 04:56 PM   #1716
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 559
My largest positions are CNLPL, CNTHP, WFC-L, HE-U and AILLL. Several smaller holdings to round off the Big Boys.

Plus a couple of high yield, high risk preferreds to add the element of excitement and sleepless nights....

With increasing likelihood of slow rising rates for a while yet, I think our Mulligan Stock Picks will do just fine going forward.
__________________
Coolius is offline   Reply With Quote
Old 02-25-2017, 09:39 AM   #1717
Full time employment: Posting here.
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 581
CNLPL, CNTHP, WFC-L & AILLL here.
__________________
Golden sunsets is offline   Reply With Quote
Old Yesterday, 09:18 PM   #1718
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 6,807
Quote:
Originally Posted by Golden sunsets View Post
CNLPL, CNTHP, WFC-L & AILLL here.


Golden, you have pretty much stayed with what you have had a while, correct?
__________________

__________________
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 03:57 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.