Preferred Stock Investing-The Good , The Bad and The In Between 2015 - 2020

[MooreBonds]

Incredible dump...KTBA has daily volume of 900 shares and 22000 has been dumped. OFF 3% today...Its just a seller. Compare KTBA to Sister issue TBB which yields barely 5%. Ya it matures in 2066, compared to 2097, but I plan on being dead either way before. I will take 6.2% over 5.13% any day. Only real difference is KTBA is an old float the trades little.

I can't keep track of your whirling dervish portfolio - did MH-A scare you off forever, or did you tiptoe back in? Currently ask at just $24.62. I had picked up my limit of 200 at $24.90 or so, so don't want to add any more exposure currently. That, and I have 500 of the common at 7 1/4.

 

[Mulligan]

I can't keep track of your whirling dervish portfolio - did MH-A scare you off forever, or did you tiptoe back in? Currently ask at just $24.62. I had picked up my limit of 200 at $24.90 or so, so don't want to add any more exposure currently. That, and I have 500 of the common at 7 1/4.

You knew the answer already! Yep, I quickly ditched it for like a 15 cent a share gain. Too risky for me. I don't know what or how extensive their problems are.

 

[Mulligan]

I can't keep track of your whirling dervish portfolio - did MH-A scare you off forever, or did you tiptoe back in? Currently ask at just $24.62. I had picked up my limit of 200 at $24.90 or so, so don't want to add any more exposure currently. That, and I have 500 of the common at 7 1/4.

Actually some never change, but some do...My present stash is...KTBA GJO RILYL AHT.D KYN.F ALLY.A GWSVP CNIGO PPWLO AILLL AILNP LANDP NSS FIISO BURCP MSEXP CTWSO

 

[RE2Boys]

Incredible dump...KTBA has daily volume of 900 shares and 22000 has been dumped. OFF 3% today...Its just a seller. Compare KTBA to Sister issue TBB which yields barely 5%. Ya it matures in 2066, compared to 2097, but I plan on being dead either way before. I will take 6.2% over 5.13% any day. Only real difference is KTBA is an old float the trades little.

KTBA is non cumulative and I can't find any evidence it paid the last dividend, should have been paid on 12/1/17.

 

[Mulligan]

KTBA is non cumulative and I can't find any evidence it paid the last dividend, should have been paid on 12/1/17.

RE, I don't think you understand what KTBA is.....Its an AT&T bond held in trust. You are buying slivers of the actual bond held in trust. It is very much cumulative. If you don't get paid that means AT&T went bankrupt. Since it is a bond it pays every 6 months. May is next payment.

 

[Mulligan]

RE, I don't think you understand what KTBA is.....Its an AT&T bond held in trust. You are buying slivers of the actual bond held in trust. It is very much cumulative. If you don't get paid that means AT&T went bankrupt. Since it is a bond it pays every 6 months. May is next payment.

These products were designed for retail consumption back in the day for little investors who couldn't afford to buy $1000 par bonds. You own certificates that lay claim to that much value of the actual bonds held in trust. It was issued in 1999 but the actual bond was a 100 year bond issued by AT&T a few years prior.

 

[Mulligan]

These products were designed for retail consumption back in the day for little investors who couldn't afford to buy $1000 par bonds. You own certificates that lay claim to that much value of the actual bonds held in trust. It was issued in 1999 but the actual bond was a 100 year bond issued by AT&T a few years prior.

Added thought...IF KTBA didn't pay it's payment AT&T would not have a dividend paying on common stock. The bonds have to get paid first. You can't find payment because it never has to be declared like dividends. Interest payments are contractual, preferred dividends must be declared as do common stock divi...

 

[Coolius]

I could not find any info on the internet that the Dec 2017 dividend was paid, so finally called my broker.

They did some checking, called me back, and confirmed that KTBA had indeed, paid out the Dec dividend on schedule.

They had no idea why sites like Dividend.com and others, did not show the payment.

I bought KTBA some time back, just after the div date, for $29.55. I might add a few more if it is around the $28.40 level tomorrow.

 

[bobandsherry]

KTBA is non cumulative and I can't find any evidence it paid the last dividend, should have been paid on 12/1/17.

Not sure what you use for brokerage, but I looked at charts for my broker and find it paying 87.5 cents every 6 months.

 

[Mulligan]

I could not find any info on the internet that the Dec 2017 dividend was paid, so finally called my broker.

They did some checking, called me back, and confirmed that KTBA had indeed, paid out the Dec dividend on schedule.

They had no idea why sites like Dividend.com and others, did not show the payment.

I bought KTBA some time back, just after the div date, for $29.55. I might add a few more if it is around the $28.40 level tomorrow.

Coolius, be brave... You know better...Its debt...There will never be a declaration of payment. That was sealed at issuance of bond. BOD must declare preferreds and common divis. They do not declare bond payments, they pay or go into bankruptcy. Those stock websites including brokerages can get all screwed up. Now if you hear “ ATT suspends common dividend” then we better start looking a bit closer, lol....
You better start getting braver, or I am going to give you something to worry about... We will liquidate your present holdings
And put you all in PIA, KTP, and CBL-D. [emoji16]

 

[Coolius]

You better start getting braver, or I am going to give you something to worry about... We will liquidate your present holdings
And put you all in PIA, KTP, and CBL-D. [emoji16]

Oooh - you really know how to frighten a guy, Mulligan. Keep those scary stuff for the next Halloween, lol.

But, in direct answer to your question - I am getting a little less timid, lol.
Remember I bought NSS and SPLP-A ? Not for the faint of heart !

 

[Mulligan]

Oooh - you really know how to frighten a guy, Mulligan. Keep those scary stuff for the next Halloween, lol.

But, in direct answer to your question - I am getting a little less timid, lol.
Remember I bought NSS and SPLP-A ? Not for the faint of heart !

Yes, I must confess....You have stepped up your game in higher yields...Sadly so have I... I own 1000 shares of AHT-D and there was a time when I wouldnt own 1 share... I wish I had a direct line to you when KTBA cratered as I knew you would have been on it. Pig Pile answered the call and got in at the bottom $28. I had nothing else to do but watch the ticker since I was working and I wasnt doing much, lol.. So at closing price, if I sold my shares tomorrow at $28.83, I in effect doubled my pay working today!

 

[Coolius]

WFC-PL was dropped from the S&P US Preferred Index last week, in its regular re-balancing.

https://www.spice-indices.com/idpfi...puspreferred-20180105.pdf?force_download=true

It is possible that some dumping happened today and will go on for a while, simply because ETFs may be forced to sell some or most of their holdings, especially those that track the Index.

Could be a great opportunity to pick up more.

 

[capjak]

WFC-PL was dropped from the S&P US Preferred Index last week, in its regular re-balancing.

https://www.spice-indices.com/idpfi...puspreferred-20180105.pdf?force_download=true

It is possible that some dumping happened today and will go on for a while, simply because ETFs may be forced to sell some or most of their holdings, especially those that track the Index.

Could be a great opportunity to pick up more.

Thanks, Cool, I bought it at 1199 and was feeling pretty good until it started to fall today. Maybe sell and buy back?

 

[RE2Boys]

I could not find any info on the internet that the Dec 2017 dividend was paid, so finally called my broker.

They did some checking, called me back, and confirmed that KTBA had indeed, paid out the Dec dividend on schedule.

They had no idea why sites like Dividend.com and others, did not show the payment.

I bought KTBA some time back, just after the div date, for $29.55. I might add a few more if it is around the $28.40 level tomorrow.

Thanks, Coolius, for solving the mystery. Had me a bit confused unless the trust holder (some unit of Citigroup?) had some issues. Checked several websites and none showed dividend being paid on 12-1-17

 

[Mulligan]

Thanks, Coolius, for solving the mystery. Had me a bit confused unless the trust holder (some unit of Citigroup?) had some issues. Checked several websites and none showed dividend being paid on 12-1-17

US Bank is trustee RE. But its in segregated accounts unrelated to finances of US Bank. That will always be a non issue. Now if one has a synthetic adjustable (which I have) trust preferred, derivative swap agreements could cause an extreme minute possibility of problem. But never in a straight vanilla trust holding like this one.

 

[Running_Man]

WFC-PL was dropped from the S&P US Preferred Index last week, in its regular re-balancing.

https://www.spice-indices.com/idpfi...puspreferred-20180105.pdf?force_download=true

It is possible that some dumping happened today and will go on for a while, simply because ETFs may be forced to sell some or most of their holdings, especially those that track the Index.

Could be a great opportunity to pick up more.

Interesting that it is effective Jan 22nd. Should be some more selling between now and then

 

[brokrken]

I wish I had a direct line to you when KTBA cratered as I knew you would have been on it. Pig Pile answered the call and got in at the bottom $28. I had nothing else to do but watch the ticker since I was working and I wasnt doing much, lol.. So at closing price, if I sold my shares tomorrow at $28.83, I in effect doubled my pay working today!

I tried to get in, but failed.

 

[brokrken]

Also, GWSVP up 2% today. Anybody seen any news?

 

[Mulligan]

Also, GWSVP up 2% today. Anybody seen any news?

I sold at $27 and will look to reenter at a lower price.

 

[Winemaker]

Picked up some Hersha HT/PB for $24.08 today, 6.5% at par. Take that, Mully! Another stinking hotel chain.

 

[Mulligan]

Picked up some Hersha HT/PB for $24.08 today, 6.5% at par. Take that, Mully! Another stinking hotel chain.

You stole my purchase, Winemaker! I bought in AHT-D at 25.09 ish last week fairly large and that is all the hotel food I can stomach for now. I will be brave and hold the 8.4% as long as they are obliging. Been hitting the wine sauce a bit too much? HT-B hasnt been around since 2016...You thinking the D or E series?

 

[Winemaker]

It was the D series, I guess I was not into the jug enough! No booze before 4pm, unless I'm blending or tasting, and I'm spitting then.

 

[Mulligan]

It was the D series, I guess I was not into the jug enough! No booze before 4pm, unless I'm blending or tasting, and I'm spitting then.

My GF and I discovered a new sub $10 Riesling recently. Good and under $10 is always our goal!

 

[Winemaker]

Good is what you like! I can get 6 gallons of California, New York or Canadian Riesling juice, my favorite Riesling yeast, and can have a bottle in 6 months time for about $2.25. I used to make a dry, a semi sweet, and a sweet versions to cover the family's spectrum of tastes, but I only make it on the dry side. If one wants a sweeter wine, I tell them to make a simple syrup and adjust it accordingly. A home winemaker can add sugar his/her self, but a commercial winery has to either stop fermentation at the desired sweetness, or backsweeten with juice. Too much work for 6 gallon batches, but 2-300 gallons at the winery, not so much.