Errors and Omissions

On this page reader/participants can post comments pointing out ERRORS AND OMISSIONS on our various lists.

I think we are dealing with near 1000 pages on site at this moment (1/5/2019) and we always say we have maybe 98% good data with 2% being incorrect or simply missing.

For instance this week Affinity4Investing let us know we were missing one of the Allstate Corp preferred issues–fortunately we stumbled on his comment so we were able to get the issue added, BUT there is so much commenting activity we can only skim through them.  Thus if they are posted here were can, at a glance, find out issues.

We will respond to comments on this page, but we will clear it off every week or two.

70 thoughts on “Errors and Omissions”

  1. Looking at GAINL, you appear to list an incorrect call date. From the prospectus,

    “At any time on or after August 31, 2020, at our sole option, we may redeem the Series E Term Preferred Stock at a redemption price of $25.00 per share”

    On your monthly preferred list you indicate early call date is Aug 31, 2021.

    1. Just for clarification, top of subject web page states 6.0%. Div is correct for a 6% yield but “grey box” “coupon” reads 6.25%

      1. Thanks Bob–great find–out of 1800 pages those are the type of typos I would never find. Corrected.

    1. David–I will wipe out a bunch, but you can click “newer comments” just above the comment section to bring up the new ones.

        1. Furcel–it is now trading under the permanent ticker, but the quote server is not picking up the pricing yet and I normally wait until the pricing is showing up, but will go ahead and add it. The price will show up as NA until the quote server gets updated.

      1. Mr M.
        It would make a lot more sense for the section to open with the latest comments. I know it takes just one click to reverse the order of the
        comments, but the latest is almost always what readers want to read.
        Essentially, the oldest have already been read days ago, and an ALERT is of immediate importance, which is the purpose of the section. I hope that you will think it over. Thanks for reading.

  2. Hi there, thanks for your work. I was wondering why you use a closed-form calculation for preferreds YTC? Why not use the RATE function available in the google sheets? The two appear to be quite a bit off for some stocks.

    1. And just to add, should you be using the dirty price (ie market price) in your calculation or clean price (i.e. market price less accrued) in your calculation? If you use the dirty price as you do, your YTC will decrease one day to the next all else equal as the accrued grows in the dirty price which it shouldn’t do.

  3. Hi Tim….
    Awesome site for resources…we all thank you… of this morning…master list alphabetical toggle seems to have malfunctioned…..

        1. Hi eeciii–I am not seeing anywhere where it shows as quarterly. Is there a particular spot you are noticing it is incorrect?

    1. Sorry for that–I use that list for other purposes as well and forgot to reset it early this a.m. when I was messing with other stuff.

  4. Tim, would it be possible to post your pricing tables as HTML tables instead of images? I often find myself wanting to cut and paste e.g. the CUSIP. Thanks.

    1. David, not only are they uncallable, they pretty much are unbuyable too. Somebody had a bid at $160 for PPWLM today that went unmolested. And somebody screwed up and paid over $700 a share for a few PPWLO shares earlier this year…Ouch! PPWLM has a bit over 15,000 shares outstanding and PPWLO a bit over 5,000. Very illiquid, but then again one was issued 98 years ago and the 92 years ago.

    2. David, I was going to give you conformation last night but went to sleep instead. I always recommend OSM if one purchases to make info is correct through SEC filings. I own PPWLO but not PPWLM. I flipped it one too many times back in the day.

      Page 171 of the actual document..
      18) Noncontrolling Interests
      Included in noncontrolling interests on the Consolidated Balance Sheets are preferred securities of subsidiaries of $58 million as of December 31, 2018 and 2017, consisting of $56 million of 8.061% cumulative preferred securities of Northern Electric plc., a subsidiary of Northern Powergrid, which are redeemable in the event of the revocation of Northern Electric plc.’s electricity distribution license by the Secretary of State, and $2 million of nonredeemable preferred stock of PacifiCorp.

      Page 186 of actual document

      Preferred Stock
      As of December 31, 2018 and 2017, PacifiCorp had non-redeemable preferred stock outstanding with an aggregate stated value of $2 million.

  5. Tim,
    I was taking a closer look at PRE-I today. PartnerRe Ltd is a Reinsurance company. You have this preferred listed as not qualified. I think it may be qualified. Could you check if I’m correct?

    1. Zwei–got them corrected. I had help on these originally–unfortunately when I have help they don’t know up from down and corrections are still be made. Of course these are all non cumulative and qualified. Thanks

  6. Hi Tim,
    Today’s discussion of the COF preferreds potentially (C, D, and P) callable now or very soon) led me to search the site of the entire set of preferreds. For COF-H, we show a call date of 12/1/16 (see the below reprint from the site). I think it’s 12/1/21 (per QOL).

    Ticker: COF-H
    Parent Ticker: COF
    OTC Grey Market Temporary Ticker: NA
    Issuance Date: 11/22/20161st Call Date: 12/01/2016

  7. Hi Tim…when using the parent ticker search for NEWT, I noticed that NEWTL is showing up marked redeemed. NEWTZ is the issue that should be marked redeemed, not NEWTL.

    1. Thanks Citadel–I wait until they trade before getting them in the database, so this one will go in today.

    2. Also–they actually had an old issue NEWTL with a previous use of that ticker which was called. Ne issue now in. Thanks again

  8. Tim
    I suggest that READER INITIATED ALERTS should open with NEWER comments first, not the oldest. Today the first comment is 19 days old and it took me a while to figure out I had to click on the ‘newer comments’ to reverse the order. ( Of course, I am a little slow on the uptake ); Alternatively, display ” to reverse date order click HERE ‘ ”
    Thanks a bunch for taking this suggestion into consideration.

    1. Howard, there’s a comment on that page “We want to keep this page ‘fresh’ so we will slick it off every week or two so the items below remain only newer items.” That hasn’t been done in a long time.

      There’s also a request “We only ask that comments beyond the breaking news be kept to other pages or this page will be ‘out of control’” and indeed it is. If I have one complaint about this site, it’s the high level of off-topic chit chat by a handful of users. I know, I’m a troll for pointing it out again. But it’s true.

  9. Something is broken with the reader alert doodad. Works for current posts if you click on the post but not current if you click on the page.

    1. furcal,
      Check out the “Canadian Discussion” link over on the top right of this page. Bob-in-DE wrote the following. Otherwise, the Enbridge preferreds are not monitored at this time in Tim’s tables and don’t show up in searches on the site. We are only discussing them here for now. Thanks again to Bob for the offering.
      Bob-in-DE says:
      06/22/2019 at 9:10 am

      For those of you that follow Canadian preferreds I have just recently updated my tracking sheets and will make same available by email upon request. These are the sheets I use to both track and make investment decisions from. Covers only those with US tickers, about 35 in total.

      To obtain, you can either post your email here (strongly discouraged) or send me a PM through Seeking Alpha with your email address. I use same nic on SA as here.

      Price is only …….. wait, this is III, not SA! Gratis, of course.

      1. Thanks A4I. I went to the Enbridge site and have that bookmarked. The continued weakness in EBGEF is interesting. Market moves are often perplexing.

  10. You’ve got the new First Internet Bancorp Baby Bonds listed as Qualified. It’s my understanding that baby bonds are never qualified. Am I wrong?

  11. Maybe I’m looking in the wrong place but I can’t find any of the EPR Properties issues (C, G, or E) in the Master List.

  12. (SR-A) Spire Inc, 5.90% Dep Shares Ser A Cumulative Redeemable Perp Preferred Stock
    not listed on your website.

    1. Zwei, I hadnt looked at its price in a few days, it keeps creeping up it appears. I bought WAY too much of that when it first came out as it is my biggest current position. And I regret not buying more then, lol…But not now at $26!

      1. Grid, I think that this issue will be about $26.50 within a month. Of course, I’ll have sold my shares before then. 😉

      1. Tim,
        Thanks for adding SR-A to your website. First call date on your listing is incorrect. It should be 8/15/24 if I am not mistaken.

  13. Hi Tim,
    I can’t post anywhere with ‘mikeo’ name and associated gmail address. Hopefully I haven’t been banned. ¯\_(ツ)_/¯

    1. mikeo–for some reason all the posts were being sent to the spam folder. I manually approved and they moved to the comments section.

      Hopefully you can post normally now–sorry I have no idea why that happened.

  14. Hi Tim!
    I hope I found you well. Could you please review this section and fix the latest comments to be on the top without clicking “Newer comments” option?

    Thank you in advance!


  15. Hi Tim:
    I do not know which page I should use for this post but was wondering with the pervasive and persistent comments about Canadian stocks and with their unique peculiarities rather than sprinkle posts on different pages have you thought about adding one page exclusively for posts and comments on Canadian securities? It need not be complex. Just a separate page for posts. That is all.
    Really appreciate the work you and Thad have put into this site and all the helpful comments that people have contributed. Love to see both sides of the issues. It helps me put things into perspective. Always learning from this site.

    1. Hi Dave–I can do that. Will put it in the additional links page on the right column in the next day or so.

  16. Hi alpha8.
    Thanks for checking up on this.
    I was referring to MTBCP. From QOL:
    MTBC, Inc., 11.00% Series A Cumul Redeem Perp Preferred Stock
    Ticker Symbol: MTBCP CUSIP: 55378G201 Previous CUSIP: 58464J204 Exchange: NCM
    Security Type: Traditional Preferred Stock

  17. Hi mikeo–I am going to do a bunch of stuff related to sorting–but it will probably be a few weeks or even months. When we set the sorting options up we weren’t precise in what we set up–and since it has not been a priority since that time (a year ago) we haven’t put our efforts there yet–but we will be doing so.

    1. Thank you for considering the request, and all your work here of course. Absolutely wonderful what you have accomplished with this site!

  18. Hey Tim…I was looking at the Master List of Utilities that you mentioned yesterday and noticed Duke-A is sporting an 8.25% coupon. While I wish that were true, shouldn’t the correct number be 5.75%?

  19. Tim and Ken, thanks for following up.
    Ken – yes, I was referring to the Master List – Ex-Dividend sheet.
    Tim, thanks for fixing that. I verify it looks accurate now.

    Tim – I also look at the stripped price and stripped yield (annual dividend / stripped price). That information may be a useful addition to the spreadsheets, though they’re useful even without it. They are easy to calculate on my own.

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