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specsaregood

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optimum is to have both -- then can control your tax bill. ie, the roth makes the pretax more valuable
That's what I do. Speaking of stocks that issue K-1's that I put in my Roth so I dont have to deal with the K-1 filing hassles:
Icahn's stock has been completely unaffected by the market downturn:
Pays a 15% yield. They have been warning about the market for awhile, have 2billion in cash and more available.
I suspect they are gonna a go aviking on the market soon.
 

specsaregood

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That's what I do. Speaking of stocks that issue K-1's that I put in my Roth so I dont have to deal with the K-1 filing hassles:
Icahn's stock has been completely unaffected by the market downturn:
Pays a 15% yield. They have been warning about the market for awhile, have 2billion in cash and more available.
I suspect they are gonna a go aviking on the market soon.
I was just reviewing their quarterly results information and found this nugget:

Segment: Investment:
"As of March 31, 2022, the Funds had a net short notional exposure of 21% (85% long and 106% short)"

Looks like they were poised for the downturn, next quarter should be pretty good.
 

EO 11110

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anybody buying anything? i've been shoring up my reit allocation. i have been underweight since i built my divy portfolio. this crash is letting me remedy that. reits that i currently own - WPC, STOR, GTY, IRM, LAMR, MPW, PSTL

reit diversity in the symbols - warehouses/industrial, retail, gas stations, document storage, billboards, medical, post offices
 

specsaregood

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Pays a 15% yield. They have been warning about the market for awhile, have 2billion in cash and more available.
I suspect they are gonna a go aviking on the market soon.
And one more note on Icahns holdings from the quarter.

Carl Icahn trims Delek stake, exits Occidental, adds International Flavors & Fragrances
  • Carl Icahn reduces his stake in Cheniere Energy (LNG), Newell Brands (NWL), and Delek (DK) and increased holdings in Icahn Enterprises LP (IEP) in Q1, according to his 13F filing.
  • Reduces Delek (DK) to 1.34M shares from 6.98M shares, Cheniere Energy (LNG) to 9.72M shares from 16.17M shares.
  • Boosts Icahn Enterprises LP (IEP) holding to 326M shares from 257M shares at the end of 4Q21.
  • Exits only one position in the quarter. Sold 45M shares of Occidental Petroleum (OXY) during the quarter.
  • Acquires 0.64M shares of International Flavors & Fragrances (IFF)
Added to his partnership (IEP) holdings and unloaded a lot, freeing up a lot of cash.
 

Uglytruth

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And one more note on Icahns holdings from the quarter.


Added to his partnership (IEP) holdings and unloaded a lot, freeing up a lot of cash.
Do you think it is getting out or expecting an opportunity?
 

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Buying more of some current dividend holdings now that prices are down, and dividend is still good. Not adding anything new to the port. I do have a couple low ball limit orders in place in case there's another 1200 point drop someday.
 
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specsaregood

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Do you think it is getting out or expecting an opportunity?
opportunity, it is what he does. he's been losing his ass the past year or so with shorts on the market waiting for this to happen. Now he has unloaded his big gains on his longs and gonna go bargain hunting again. I've got a fair amount of IEP and gonna go along for the ride.
 

Tbonz

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You guys see the FED jump into todays market?

They stopped a breaker from kicking in, looked like a potential $X,XXX drop for Dow and Nasdaq.

They will be doing this until November, slowly boiling the .
 

MrLucky

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Those limit orders from post #1006, both hit yesterday. What a hoot! One was a sell and the other a buy. Made a few sheckles and got a better dividend in the trade. A win win kind of day.
 

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Have any of you looked into buying distressed corporate bonds? I was looking at a BBBY bond today and the return isn't looking bad. You can buy the 2024 debt for ~72 cents on the dollar. Pays a 3.9% coupon. But the real payday would be getting the 100 cents back when (if) it comes due. A little too long/boring right now for me but something to consider.
 

chris_is_here

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anybody buying anything? i've been shoring up my reit allocation. i have been underweight since i built my divy portfolio. this crash is letting me remedy that. reits that i currently own - WPC, STOR, GTY, IRM, LAMR, MPW, PSTL

reit diversity in the symbols - warehouses/industrial, retail, gas stations, document storage, billboards, medical, post offices

I have a starter position in XBI at $66. Biotech has been bashed brutally lately and we are getting near the bottom, with most many biotechs selling for less than their net cash holdings. It could go lower still, but the recent beatdown to $62 looked like a classic capitulation on the chart.
 

EO 11110

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Have any of you looked into buying distressed corporate bonds? I was looking at a BBBY bond today and the return isn't looking bad. You can buy the 2024 debt for ~72 cents on the dollar. Pays a 3.9% coupon. But the real payday would be getting the 100 cents back when (if) it comes due. A little too long/boring right now for me but something to consider.
i was buying some bonds -- taxable munis, cd's, preferred stocks, bbb corps. then they reversed and exploded higher. so i'm no longer buying

if they make new lows i'll resume accumulating
 

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I have a starter position in XBI at $66. Biotech has been bashed brutally lately and we are getting near the bottom, with most many biotechs selling for less than their net cash holdings. It could go lower still, but the recent beatdown to $62 looked like a classic capitulation on the chart.
i own abbv, hznp, gild, gsk, tak. sold pfe a couple of months ago. all but hznp are big divy payers

wife is holding a hc fund in an ira - which has a large allocation to the bigger biotechs. i sold off a bunch of her holdings in january. did not sell any of the hc fund. that sector is due for a run
 

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How did you guys who were playing with options on those Russian stocks do?
 

Voodoo

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How did you guys who were playing with options on those Russian stocks do?

Just holding all my POYYF. Haven't bought or sold lately. Luckily just bought shares and not the other Russian stocks. Those would have done very well but Xiden no likey.
 

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RSX did well just as a currency play. But sanctions so it's locked........ ya know joe
 

Voodoo

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Just holding all my POYYF. Haven't bought or sold lately. Luckily just bought shares and not the other Russian stocks. Those would have done very well but Xiden no likey.

Well, I spoke too soon. It looks like the commies just couldn't keep their hands off. POYYF and AUYCO looks like they stopped trading ~June 13th. Found this on yahoo.

"The suspension of trading in POYYF/AUCOY in the US has been brought to our attention by investors and by the bank administering our ADR program. While we don’t have the explicit reasons why the trading was halted, we suspect that the decision may have something to do with the new sanctions published on the 6th June. https://home.treasury.gov/policy-issues/financial-sanctions/faqs/1054 and https://home.treasury.gov/policy-issues/financial-sanctions/faqs/1055

Presumably, banks/brokers believe that we’re subject to this blanket restriction even though they acknowledge that we are not under any targeted/designated sanctions as of today. We are challenging this with concerned parties.

We are advised that it's highly unlikely to overturn such decision in a matter of a few days or weeks. If successful, this is likely to take months."

Let's Go Brandon.
 

EO 11110

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RSX did well just as a currency play. But sanctions so it's locked........ ya know joe
is the company that runs RSX getting divs from the russian companies?
 

Uglytruth

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is the company that runs RSX getting divs from the russian companies?
Do not know at this time.

2/3rds of the paperwork warns of "Risk of investing in"........... fill in the blank.
 

chris_is_here

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The market sucks worse than Joe Biden right now.

I've been trading flat since the big score on POYYF (sorry to any of you guys that are still holding that, it's not looking good).

I've plopped my money into CRF while I wait for the next big trade. CRF is currently paying dividends of $0.173 per month, not bad for a stock trading at $8.38. The $0.173 monthly dividend is already declared through September, so this is a pretty good parking place for cash. I expect the dividend to reset slightly lower for the Oct-Dec months, but that is really dependent on the NAV which, in turn, depends on how the market performs. If we get an extended relief rally, this one will recover nicely as the July x-dividend date approaches.

As background, CRF just raised $410 million in cash through a rights offering, and the price has been knocked down from $13.50 to $8 in a matter of weeks. The settlement price for the rights offering was $7.95 per share, which should put a pretty solid floor on the share price at $8, since no one in their right mind would dump shares below the offering price and leave all those dividends on the table. I bought all of my shares on the open market and am averaged in the mid $8's which, ironically, is below the average of most people that participated in the offering, since they bought most of their shares in the $10-12 range and the offering only allowed you to buy 1 share at $7.95 for every 3 shares already held.

It's a bit of a gamble and the price has been volatile, but it is worth a look.
 

EO 11110

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crf = self liquidating fund? what gimmick(s) do they use? leverage? options?

it appears the fund is paying out more than it is earning - and that was during zirp. are some of the 'dividends' actually return of capital?

what happens now that their borrowing costs have exploded higher?

1656422057355.png
 
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Voodoo

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crf = self liquidating fund? what gimmick(s) do they use? leverage? options?

it appears the fund is paying out more than it is earning - and that was during zirp. are some of the 'dividends' actually return of capital?

what happens now that their borrowing costs have exploded higher?

View attachment 265806

It looks like it's actually a closed end mutual fund that pretty much died in 2008. It is definitely paying too much in dividends and shows why big losses can cripple an asset management fund.
 

chris_is_here

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It looks like it's actually a closed end mutual fund that pretty much died in 2008. It is definitely paying too much in dividends and shows why big losses can cripple an asset management fund.

The correct way to play this is not to buy and hold. Instead, you buy on the heels of a rights offering, they will do one every year or two, and then hold for 6 months. If you time your entry correctly, you can harvest 6 months of dividends and/or a pretty decent capital gain when the share price rebounds. You don't want to be long for more than one year.

EDIT, here is the latest schedule of investments.......


based on their holdings, I'd say this stock is near perfectly correlated to the overall market indicies. Basically, you can think of this as a fund that unlocks the net asset value of the underlying holdings through higher-than-normal dividends, so some of the dividends will be a return of capital. Stated differently, the fund increases the value of the underlying assets by accelerating the cash flow stream (mathematically, this increases the present value of the assets and allows the stock to trade at a premium to NAV).
 
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Voodoo

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The correct way to play this is not to buy and hold. Instead, you buy on the heels of a rights offering, they will do one every year or two, and then hold for 6 months. If you time your entry correctly, you can harvest 6 months of dividends and/or a pretty decent capital gain when the share price rebounds. You don't want to be long for more than one year.

EDIT, here is the latest schedule of investments.......


based on their holdings, I'd say this stock is near perfectly correlated to the overall market indicies. Basically, you can think of this as a fund that unlocks the net asset value of the underlying holdings through higher-than-normal dividends, so some of the dividends will be a return of capital. Stated differently, the fund increases the value of the underlying assets by accelerating the cash flow stream (mathematically, this increases the present value of the assets and allows the stock to trade at a premium to NAV).

Sounds like a game but I'm going to pass. Small potatoes and I'd rather look for something with appreciation potential. But hey, my goals are certainly not everyone else's goals, nor should they be.
 

EO 11110

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Sounds like a game but I'm going to pass. Small potatoes and I'd rather look for something with appreciation potential. But hey, my goals are certainly not everyone else's goals, nor should they be.
i owned a fund 10ish years ago that reminds me of this one. i walked away feeling like they had just converted capital gains into income. the share price was flat/slightly down as long as the market went up. it still trades in the same range from then

the chart looks very similar to crf

1656440719055.png