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6/28/2024
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NYCB is doing a 3-1 reverse split.
so this ratio from the NYCBprU will adjust accordingly.
a warrant to purchase 1.4036 shares of common stock of NYCB at any time
prior to May 7, 2051. The warrant exercise price will initially be $50.
Justin, I don’t own the common but have the NYCB prU. I am trying to understand if Flagstar has any corporate guarantee with respect to NYCB prU.
I have emailed IR but no response.
If Azure was still posting, I could ask him as he stated he is good friends with NYCB management and was stopping by to visit; the next week the price collapsed.
I have posted before that there are many on here that I trust and most certainly you are in that group!
It couldn’t. Flagstar was acquired LONG after the bonus Units were issued by the holding company parent.
Hope nobody holding Walgreens (WBA). Stock down ~25% this morning. They announced some store closings. I think lack of any kind of an effective deterrent to theft has really killed this company along with some dillwad moves by previous mgmt. I use to own it but was one of my sells (along with CVS) when cities announced they were going to let thieves go.
If you own net lease REITs, you might be a “Walgreen owner ” even though you think you’re not. Pumpers like the Buy Buy I’m The Big REIT Guy on The Other Website pitch net lease REITs as safe investments with “investment grade” portfolios. Drugstore leases were once a prized asset class. IMHO, its a good practice to look at a REIT’s portfolio composition before you invest. You might be surprised. (Expecting a TOWS article – “but not all the stores will close at once. So buy buy buy”)
(OT – Also, do read the tiny little footnotes in the REIT press releases. One REIT claims every quarter in a footnote that some of its non-investment grade properties are actually investment grade because a non-guaranteeing parent is highly rated. Much money has been lost in things like “moral obligation” bonds. )
Just being my usual over-cautious self here. Painful personal disclosure: Took a Buy Buy Buy recommendation – My money went Bye Bye Bye
JMO. DYODD.
Let’s see if it’s an over reaction. Gambled a small amount of WBA at $11.76. Dividend is over 8% now. They cut the dividend this year from $.48 to $.25. They may do it again. Closing losing stores make sense. Will watch carefully.
Not having the time to properly manage portfolio, I did notice over the last 24 hours my inbox is full of NNN offerings for Walgreens. One advertised as taking any offer. A good friend made great fortune developing for Walgreens in the SE. A friend of my son’s graduated MI top honors went to work in Chicago. He was very disappointed. Said his boss when in the office would spend all his time in the gym. He was sent to Switzerland to negotiate drug cost with apparently another affiliate so games had to be played where he was not allowed to talk to the affiliate, etc. I know this isn’t analytical data but thus far in my life, I have acted on information and it has served me well. I avoided Walgreens and will continue to do so. I bought NIVIDIA because my sons liked their gaming chips. 🙂 I bought Costco because one son did an analysis on it and to encourage him I bought. These returns are spectacular. I think most of us have a Kevin Bacon circle of advisors.
I bought 2000 shares of NVDA and still hold them. Oh wait, that was 25 years ago and sold them for a small gain. Those shares would only be worth a couple $MM today. Yikes.
Apparently Bosch the German appliance co is considering a bid for Whirlpool, I think? Charles mentioned he owned it. I don’t see how this would get through Antitrust although Haier, LG, Electrolux are big players too. Not too familiar w this space myself.
Been looking at Molson Coors,, TAP symbol, come down a lot, I have Ambev now. I don’t usually play in the consumer sector but it seems there is some value popping up. General Mills (GIS) has even got a 3.5% yield these days.
Bea
Bea, was walking through HD last weekend and it happened I walked through the appliance dept. Saw a bright red refrigerator kinda retro looking and it was a brand I had never seen before called Galantz. Sounds French! Turns out another Chinese brand. Looked them up and Google said they have been around since 1978 and now worldwide. Know the things I like about it?
The look, the price, no bells and whistles with features that add to the cost and the chances of a repair bill and finally consumer reports people saying it’s reliable. Our tired old WHR frig broke 2 yrs ago and I went looking for a replacement. All the major brands WHR , LG, Samsung, etc, were thousands of dollars, had electronics out of the wazoo and numerous consumer reports of failures and dissatisfaction. Luckily I found a good appliance repair guy and a part off E-bay and had the old one fixed still going strong now for 34 yrs.
Would I buy another WHR refrigerator? maybe. Do I own the stock yes.
Whirlpool also owns Kitchen Aid, Amana, Maytag, Magic Chef and a few others.
That may explain my confusion about the house:
Amana is my fridge, not the oven, the oven is Maytag not the clothes washer, the clothes washer is Samsung not the TV, or Whirlpool, which is the dishwasher.
Bea, sidenote, we have a Bosch dishwasher. It is amazing and easily the best one we’ve ever had. probably a $200 premium for it over other brands but well worth it in my opinion.
VIA buyout went through and can’t say I remember ever seeing this before in a take private of common shares, “each Dissenting Share was canceled and converted into the right to receive payment of such amounts that are payable in accordance with Section 262 of the DGCL and have no right to receive the Merger Consideration, unless and until such shareholder loses, waives or withdraws its rights as a dissenting shareholder” Seems genius on the companies part.
maybe good news for VIA but bad news for similar investors of every other such company knowing there is precedent for this.
As an experiment on May 28 using Schwab slices I bought $5 each of 20 S&P 500 stocks with dividend reinvestment. 19 stocks had very long-term histories of outperformance. One was speculative: MRNA. 16 stocks are in the Nasdaq 100. I’m comparing performance to five reference etfs. After four weeks here’s how it looks.
SPY +2.6%
QQQ +4.6%
IBIT -6.2% (Bitcoin)
TLT +3.2%
PFFA +0.9%
slices +3.7%
Among the slices
Best:
AVGO +17.5%
NVDA +14%
LLY +9.7%
AAPL +7.9%
ISRG +7.5%
Worst:
MRNA -17.7%
UNH -4.5%
AMD -3.8%
AXP -3.0%
CPRT +1.0%
Thanks to all for thoughts. My instinct was to decline but now I have others affirmation which gives me full confidence.
My stocks this year have returned more than I imagined. Even when I discount 20% loss; the returns remain above expectations.
I use this fact to remind and verify to simply stay in the market. One can never time it. The year began with posters having “bad feelings, “hurricane coming, etc. What a lesson for staying in the market.
This should be under ETF. A local financial advisor called me this week about exact topic as in this article.
https://www.wsj.com/finance/investing/retirees-boomer-candy-investing-fund-62454210?st=rup7cz8s9hbb9l4&reflink=article_email_share
Appreciate any thoughts or knowledge on these funds. My instinct is to turn down but instinct isn’t analysis. TIA
Covered call funds have been around for a long time especially in the CEF fund space. In my mind just putting a new ETF wrapper on an old idea.
If you are desperate for current income. Would recommend these funds as they typically yield 8%+.
Long term your performance will lag the general market. As you will not be able to take advantage of any of the market rips in capital gains. As capital gains will be taxed more efficiently than income.
You want to be asset rich and cash poor.
Obviously not in the ETF wrapper, but this approach to marketing funds, has been around for decades…. I know. I’ve tried them and they never work as advertised…. In fact, it came up at the Schwab dinner I attended a few weeks ago…. They sort of called the funds such as 80/50 funds or 50/20 etc., funds, meaning marketed as being able to capture 80% of the upside while protecting you from 50% of the downside of whatever market they’re targeting and so on. TNT, you know me well enough to guess this kind of thing would appeal to me…. Financially, I’m lucky enough to not have to keep up with the stock market to maintain my lifestyle, have no qualms whatsoever in underperforming it if I can see greater protection to the downside than I’m limiting myself on the upside…. I’ve tried it with mutual funds, I’ve tried it with individual fund managers, I’ve tried it with the local farmer who gives me stock tips on tech stocks… It never works…. As soon as the market declines, there you are figuring out you have a fund that captured way more of the downside than they said they would… over and over and over again… So my experience has been you end up giving up a percentage of upside for a soon to be broken promise of downside protection…. Heck I can do that myself… In fact, I’m pretty good at it…… Oh yes I know, it’s different this time….. It’s wrapped in an ETF envelope…. uh huh, yup, sign me up (again).
“Calamos’s S&P 500 Structured Alt Protection ETF, …is designed to match the S&P 500’s return over one year, with gains capped at 9.8%. In exchange, investors who hold for the full outcome period are protected from capital losses entirely. ”
Before you jump in, read the above sentence over several times, while whispering the words “CD” and “Treasury Bill” to yourself. IMHO, you can probably structure one of these yourself. Banks used to offer similar “structured products” long ago. They looked like powerful black magic until I took an options course. (Think: 90% CD + 10% long dated options) I am a no-go on the Calamos product.
JEPI is mentioned. It is a popular ETF fund which uses a covered call-type strategy* but if I remember correctly it does not guarantee return of principal (even though a number of commenters on TOWS think it does, confusing high income with a floor on principal) . *Technically JEPI uses a Secret Sauce whose ingredient is Exchange Linked Notes.
There are several of these covered call type ETF funds out there which use varying techniques to generate income and sometimes hedge risk. Likewise CEFs that use option strategies. (I have one that covers the Cubes.) I’ll probably add one or another of the ETFs.
Risks with options strategies include loss of the upside, inability to quickly recover from a market drop and gradual erosion of capital if poorly executed. JMO. DYODD.
“Calamos’s S&P 500 Structured Alt Protection ETF, …is designed to match the S&P 500’s return over one year, with gains capped at 9.8%. In exchange, investors who hold for the full outcome period are protected from capital losses entirely. ”
Before you jump in, read the above sentence over several times, while whispering the words “CD” and “Treasury Bill” to yourself.
—-
Agreed. What’s so great about a 0% floor and a 9.8% cap? I mean, cash pays 5.0-5.5% if you look for a good bank and that’s FDIC insured. If you really want somewhere between 0% and 10% instead of a guaranteed 5.25%, stick your cash in the bank account and then at the end of the year, go to Vegas and bet however much you want on black and you’ll get roughly double or nothing to overlay on top.
Unimpressed, but nearly all these “yield” gimmick products are marketing strategies for raising AUM with a good psychological pitch and not investment strategies with a sound underpinning for outperformance on a risk-adjusted basis.
Does anybody have any go-to covered call plays they like? I saw a comment on another post about covered calls on BDCs.
Anyone like using this strategy at all with their portfolios? Just looking for opinions.
Anyone following the merger of MFIC and the other 2 CEF of Apollo ? be interested in your take on it.
RIG ( Transocean ) ….. recent prx fade with July Crude levels stable in the range of $75.50 – $77.50 ….. June 14 level $78.50.
Current RIG at $5.17. June 13 Close at $5.41 .
Any thoughts appreciated. Jim
KRP – If anyone has been following this since AzureBlue brought it to light here; two days of pullback. Dividend calc’s off the price of NG and Oil from prior Qtr.
Shep, I follow it. They have already said that at next conference call they will release 2nd qtr earnings.
Even with good oil prices Dec to March and higher production you have to remember they purchased additional oil rights from another company using stock. This means you have to share the profits with a larger group. Also they took a larger share of earnings to pay down debt. I assume to be ready for the next deal and to survive any downturn in the oil business. Because of that I estimated back of the napkin .44 to .46 per share. I was in the ballpark by a couple cents.
You follow futures you will have seen that for the second qtr. Oil dropped below 80 and went to low 70’s and eyeball I would guess an average about 75.00 they have said they can maintain production at same levels as 1st qtr.
My wild guess is your going to see the same return or less if held to the next payout. If you ask me to back up my estimate all I can say is ask a golfer or a race car driver to give you a technical analysis of the odds of them winning the next game or race they’re in.
That’s my two cents and I have been known to be wrong before.
well this could go in Canadian chat but since you guys are talking oil/ng/royalty and drilling, I’ll put it here. If you have an IRA/Roth a name to research is Freehold Royalties. I say IRA because it is a PFIC so in a taxable you will get a forms headache. FRHLF otc, liquid enough. Been building a position around US$10/a little less. Not a big holding but again the Bea Juicing Cash and moving a little out of cash when I can strategy. (Still 46% SGOV).
This longtime royco is well diversified w low cost production areas to draw royalties off and potential as well given the prolific drilling in its areas- mostly Permian and Canada where more oil is flowing west to the Pacific now helping differentials to WTI etc. Yield right now is about 8% pays C$.09/mo or about .73/yr US total well covered thru WTI50 and low ng/ngl assumptions, weighted to liquids etc. I like the US/CA diversification in so many fields and w so many top o/ng players too. Latest presentation for starters for folks.. https://freeholdroyalties.com/wp-content/uploads/2024/05/FRU-Investor-Presentation-Q1-v2.pdf
Anyway just another name to throw out there if folks want to see if it fits for them or not. I have a decent weighting to energy/o/ng/lng now in the Roth w shareholder friendly slow grower non-Wildcatter o/ng co’s and include Freehold in my mix. fyi/DYODD. Bea
I dug up this downgrade flag for KRP by an Bank of America analyst. So that might be why the stock dropped so steeply. here is the reference I found:
https://markets.businessinsider.com/news/stocks/downgrade-to-sell-challenges-ahead-for-kimbell-royalty-partners-amid-aggressive-m-a-and-unfavorable-industry-dynamics-1033480468
You should be able to Google “downgrade” and “KRP” together and find this summary article… it is what I did.
Thanks. Good analysis of the risks to royalty companies – wider spacing of wells, deeper drilling, revenue dependent on operators trying to conserve cash – likely applicable to other royalty companies as well.
FPI – Anybody see any news on FPI? It’s up 5% with a lot of the upside happening pre-market… Anybody see anything?
NVDA – i’ve done my research and I can safely say that NVDA will not top out until it reaches a market cap of $140 Trillion and at that time, “AI” will be the only word left in the human vocabulary. You have until tomorrow before this will occur…
2white – It’s a slow day for NVDA, only up $100BB in market cap. Maybe the Fed can really get this going in the afternoon. LOL!
I was listening today to CNBC when Stephen Weiss (he of the just buy treasuries in January and missed the entire market gains); stated he just bought NVIDIA. Ha. I owned NVIDIA years before it was ever mentioned on CNBC which was in 2022 or 2021! My basis will never be harmed. I dollar average slowly. I am repeating myself but USA great companies have great stocks. Yes, I expect the market to decline 20% then rise again. My investing is for wealth. I will never leave this market and my estate will not either. Not a genius or highly intelligent, rather fortunate to be a citizen.
Regional Banks. Article from Bloomberg. It aligns with my thoughts regarding MFH. Much money will be lost but it will not be the southeastern regional banks. Equity will get wiped out. Banks that had good underwriting would have kept LTV reasonable. The Starwoods and such didn’t use bank financing (or at least not the southern regional banks). I am up nicely on these and as soon as another “sky is falling” day occurs I will be a buyer.
I enjoy the post that list banks with large CRE exposure. But to truly analyze one has to understand the portfolio, LTV and recourse amounts.
https://www.bloomberg.com/news/features/2024-06-06/real-estate-investors-face-crisis-as-big-wall-street-deals-unravel?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTcxODA1MzY2MSwiZXhwIjoxNzE4NjU4NDYxLCJhcnRpY2xlSWQiOiJTRU9BNEtUMEcxS1cwMCIsImJjb25uZWN0SWQiOiJESU5NVldFNE81R1BPMDRCSFFGTUtKS0pUMUlMTklIRiJ9.KJpLcmO0ltnP13oMLOPBT-MJOw3iyk35y-hegiMEccc?sref=3yhq6DEX
Related to Gray TV is its competitor Scripps. Todd Weschler continues to misfire for Berkshire. He has done the Sirius, Paramount, and Scripps trade.
https://www.barrons.com/articles/berkshire-hathaway-scripps-stock-price-1677d4e0
If I find time, I may look at the bonds. Being in front of Berkshire would be a hoot (but not if default).
I expect to see Todd have consequences for these trades. Thank goodness, Warren is still around to watch the performance of these folks
If you are looking for international diversification and have a longer term investing horizon (I am not a “buy the dip and flip” investor), you might want to look at Bladex BLX, a Latin American based trade bank. Do your research – it is not a typical bank, more of a bank to bank operation.
BLX has had ups and downs. Ups now, up +20% YTD and +46% YTY. Downs, usually when it embarks on new business segments (which it is doing now) then walks into a recession. Forward yield is about 6.8%, just increased. They cut in 2020. No foreign tax withholding concerns if I remember correctly.
FWIW – Was going to post this on the REIT Board as a reply to a mention of VTMX, a Mexican REIT but I thought it fit better here as a free standing post. Bladex full name is Banco Latinoamericano de Comercio Exterior, S. A. JMO, DYODD
And in return, thank you for the mention of BLX. I hadn’t heard of them before, and they seem like an interesting way of getting exposure to the region: https://www.bladex.com/en/investors
In the international realm I have been looking at Brazil some, building Ambev the beer/beverage company in BR/LATAM, and an interesting insurance co BB Seguridade BBSEY (flipped this once already and back in at 6.10US). Both have articles and comments on SAlpha and a Brazilian writer has done a nice job outlining the cases on these companies and others. Usually I stick to Canada, Australia, UK for any non US exposure but nibbled here on these two which seem to offer value.
Claudia is a wildcard for biz in MX, the old guard families havent been too happy w the AMLO party but the people are of course.. one thing she is after continuing AMLOs war is on mining companies and new development there..and she is a true greenie environmentalist so who knows. Nothing in MX for me including the miners. All these elections- India, Mexico, S. Africa, UK and of course US..lots to consider! DYODD. Bea
Bear
I’m a big fan of BLX and have a significant long term position. It’s a great way to have exposure to Latin and Central America without the currency risk and I’ve been very happy with the direction the current CEO is taking them.
My other long term Latin American stock is Kimberly Clark (KCDMY). Like Walmex, it’s the mexican subsidiary of a US multinational and I think they’ve run their business very well. With friendshoring, I think Mexican citizens will have more income and be purchasing more of Kimberly Clark’s products. The stripped yield of KCDMY is ~5.8%.
I’ve been listening to this year-old interview with Thomas Majewski of ECC. (Thanks to whoever posted the link here.)
https://www.youtube.com/watch?v=OxivWs5vPTM&t=879s
(I would appreciate any comments correcting my understanding.)
Majewski is impressive. I don’t have the background to follow everything, but I get the general idea. ECC invests in the equity tranche of CLOs, collections of senior junk bonds run by various CLO managers. The manager has the option to HTM making large gains possible on bonds bought at a steep discount to par. Here’s a look under the hood:
https://eaglepointcreditcompany.com/documents/FG/eaglepoint/ir/633372_ECC_Monthly_Portfolio_Update_April_2024.pdf
ECC common pays a huge dividend monthly with a whopping expense ratio of 8.51%. It looks to me to be a great way to invest in junk bonds while letting some very smart people do the vetting. Of course, in a bad economy the share price will get crushed. I bought a little in order to keep an eye on it. The chart suggests a 20% upside. Who knows? Might have topped.
I’ve watched this as well and felt more comfortable with my understanding of how ECC/EIC and others operate.
I’ve had outsized positions in the BB’s and term preferred of OXLC and ECC for many years.
Late last year, I added significantly to small positions in the common of ECC, EIC, and OXLC and will do so again on weakness. They’ve had a nice tick up since I added.
A very leveraged way of investing in HY. remember everybody is ahead in the capital structure and you get wiped out if 6-8% of the obligors default. If you have a portfolio of Hy bonds directly you still get cashflows from the non defaulting ones. I am not saying it is not worth of consideration just that it is not comparable to investing directly in a portfolio of HY loans or bonds if that is what you want.
Also just to clarify when you buy the equity tranche of CLOs that others manage you have no control over the underlying bonds and if you are the manager only limited control since the ratings agencies force them to have a maximum bucket of CCC or lower rated loans as well as industry/concentration limits etc.
rocks2stocks—yes a very helpful video that I posted a month or so ago. Pretty explanatory. I stick to the term preferreds myself–but over long period of time maybe the commons shares will work out.
Europe expected to announce lower rates next week. India elections end this weekend. I am looking to add exposure for both. India has been a wonderful trade so I will watch for a while. IF a dip, I will buy.
Analyzing Gray TV. With political season ad’s beginning in earnest after Labor Day, would expect to see a pop. Gray beat the market estimates last report and traded higher. Now, within a few weeks and no new news it is back to a low. This would be a trade for me; no interest in holding LT.
I looked at the TV stocks some months back on the same theory – expecting a flood of political advertising. I did not pull the trigger. It seems the broadcasters always trip on their own shoelaces (often debt) or the shoelaces of the big online websites stealing away advertising. I will probably look again.
Moth:flame::investor:greed
First thing I noticed was this $1.5 bil 5 yr issue priced on May 23rd at 10.500%…. Senior secured first lien note….Yikes! I know you’ve done well on these kinds of adventures, but a price like that sure raises eyebrows… https://www.sec.gov/Archives/edgar/data/43196/000143774924018143/ex_678973.htm A 144A issue
I haven’t entered the trade on Gray (yet). I want to see the D and R TV budget and then look at local elections in Gray’s market. Scripps is basically same.
I rarely trade, but this would be a trade.
News on FTAI
https://finance.yahoo.com/news/ftai-aviation-agrees-purchase-lockheed-123000373.html
looking for a niche play and also possible defensive stock for going forward. Thinking about First Cash Holdings Inc (FCFS) – already done well over past 12 months but as economy continues to divide between the haves and have-nots pawn stores will likely continue to do well. Financials appear good PE a bit high but could grow into it. My main concern is the large amount of goodwill & Intangibles on the b/s. Thoughts from the group would be appreciated.
A few ideas for due diligence in the common stock arena where I am long;
1) APA the old Apache Oil &Gas; recently beefed up its Permian production buying Callon Petroleum and they have large exposure there in addition to their other holdings. This AM, Conoco is buying Marathon, more consolidation in the space- of course you have Exxon/Pioneer, Chevron/Hess etc. Merger spec is not a reason to buy but APA on valuation to me screams relative value and undervalued in the space so I have been building position under $30. Maybe even OXY buys it w Buffett’s blessing, he could even help finance w one of his ‘pfd’ deals if need be. Would move OXY up in the Permian a lot and they could probably sell the Egypt assets to Total or Eni or someone if they didn’t want them.
2) I am building BMY too, will require patience I think and the value is there, they used their currency(stock)and debt to buy up a lot of cancer prospects and a potential blockbuster in schizophrenia which may have other uses being investigated for Alzheimers/dementia among others. Another one that may be on the takeout block when you see the massive pharma’s ahead of it in market cap now and FCF in 2025 and earnings will rebound nicely from this year’s merger depressed numbers.
Anyway those are a few ideas, APA pays a $1 div as well which I could see increased, not much but some yield. Of course BMY now has a ‘high’ yield comparatively as folks have discussed here in Common Stock chat. It was also recommended in my service as value/div ballast to the mostly gold/royalty names. DYODD I have less than 1% in ea of these, of course I am very cash/pfd heavy now like most here. Bea
Bea, I didn’t know it was them that caused my Callon Pet bonds to be called. APA long call bonds may be a decent play.
Bea, What is you name on SA? Searched on SA but couldn’t find you…
Thank you much
sorry I just saw this post Sunny, I am ‘beabaggage’ on SA. the baggage comes from being called a bagholder so much on yahoo( before I migrated to SA that I just use baggage! lol. ) yes I’ve held a few bags (losses) too! I made the mistake naive back at yahoo at one time I used my actual name got hacked, stalked etc. by people there not because of my posts but just it was early days on financial social media. So I formed beabaggage on there and was careful as one can be on the internets. And have been ever since. With so much downtime in caregiving I am on there a lot, too much for sure. I use beabaggage on all sites I visit. As always of course DYODD today’s trades are tomorrows memories sometimes! best to you and all. B
Thank very much Bea! I always learn a lot from your posts.
Thanks, will take a look at APA. I think energy is undervalued. FWIW, I thought Marathon went way too cheap. Management seemed to be setting it up for a take-over. (Big cash flow used for stock buybacks, minimal dividend increases, little debt reduction.)
Pharma seems like an out-of-favor and perhaps undervalued sector (xOzempic) ,though I’d probably do a fund.
BMY approaching 40 in its long decline. If it maintains the 60 cent dividend, the CY will be 6% at 40. Will it? At what price does BMY become a buy?
Wow. On 9/8/1997 it wasn’t far off from what it is today. And between then and now it was below $40 for 11 years from March 2002 to February 2013.
R2S I thought it was a buy at 44.00 for long term hold. It went as high as 48 ?
Maybe I should of sold? The bloggers over on the dark side and comments from the peanut gallery say it has farther to fall. Who knows?
Here is my 2 cents for what it’s worth. It’s a stock market and a market of stocks.
The market has been adjusting to higher rates and doing good. If you like it and feel good at this price then don’t worry. If it falls more than consider buying more.
I might add more here but I am not going to a full position.
Charles, you also mentioned Whirlpool in the past, its now at $87 and paying out 8%, which isn’t sustainable. Fidelity research states that it is still overpriced. Are you still following?
Steve, glad you asked! I didn’t want to mention it in my response to R2S as it was off subject.
Yes I own 50 shares of WHR and not adding. (For now)
Main reason is they are in a show me phase. If they can reduce the debt like they promised and not touch the dividend. Have to see over the next few quarters (6 to 9 months) if they don’t then they may have to cut the dividend.
r2s, look at BMY 30 yr. history of paying dividends.
https://www.dividendchannel.com/history/?symbol=bmy
Now compare that to MRK
https://www.dividendchannel.com/history/?symbol=mrk
Which would you rather own?
The one that is 3x more expensive with 1/2 the yield? Now MRK has the blockbuster cancer drug Keytruda but that could be already accounted for in the stock price. Now BMY has bought several companies into cancer research and it could be just the start of finding their own blockbuster drug.