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Yesterday was a most restful market day for investors–and while common shares were up our holdings were up just a small amount–a very small amount. Each day I get up, earlier than I normally get up, around 5 a.m.–it takes me a couple large coffees a…

I note many questions, comments etc on coverage ratios of closed end funds (CEFs). I am in the office for only minutes but am posting Sec 18 here at this link– Capital Structure of Investment Companies This lays out dates etc relative to coverage rati…

Everyone needs to remember that as we get calmer markets (hopefully soon) it will take plenty of time for income securities to move much higher. It is true that the fall is much more rapid than the rise will be–maybe you are down a $1 or $2 on some is…

I thought maybe we saw the end of panic market declines–but yesterday proved I was wrong on that. So with a little market bounce today in the futures maybe we will begin to get a little footing while continuing a general market decline. To me with div…

I nibbled just a tiny bit as the utility issues fell off today–but it was just a couple teeny, tiny nibbles. I also have low ball orders in for some of the Gabelli CEF preferreds–last I looked none had triggered–but my lowball orders are $1 or more…

As some have probably noticed lodging REITs Pebblebrook (PEB) and Park Hotels and Resorts (PK) have already announced dividend suspensions on future payments for their commons shares (after some which have already been declared are paid). This is a sma…

We did update the Gabelli CEF coverage ratios last week–through 12/31/2019. Most of them are in good shape–coverage ratios of near 300% to 856%. There are a couple that likely will break the 200% ratio, but they will have time to raise more equity. O…

We know that equity trading will be suspended this morning after the open as the 7% circuit beaker trading halt will kick in after a few minutes. I fully expect that we may close down 10% today–may even hit the second circuit breaker which is 13% duri…

Well I think we are through the medical panic phase of this selloff, BUT now to deal with the massive losses that will occur domestically and globally by pretty much all companies. Now we will have a giant equity loss on todays open as folks come to gr…

I picked up the CMS Energy 5.875% baby bonds (CMSC) and also the Spire 5.90% perpetual (SR-A) this morning–I had to pay more than I hoped, but I guess given where they were at yesterday it should have been expected that prices would bounce. The DJIA g…

1 more day–it will be great to get to the weekend. The mental flip flops all week long are pretty draining for me–I suspect for everyone. It looks like we will see a stronger opening on the equity markets today–but as we all know that doesn’t mean w…

In one of my accounts I went on a buying spree of sorts–I hope not too early. I opened starter positions in a number of issues today as the ‘baby went out with the bath water’ and investment grade utility and CEF issues presented what I thought was a…