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Party Hearty!!

Well we got the Jay Powell ‘gift’ yesterday and folks are still arriving at the party. While I loved the .4% gain yesterday I wasn’t expecting another .3% today—can’t complain.

Folks are scouring for bargains–I think there remains a lot of them out them, but you may have to redefine ‘bargains’. For those that are braver than me th mREIT preferreds still show bunches of current yields in the 8-9% area--if rates continue lower these are going higher. Heck I might even get on this move.

The 10 year treasury is now trading down at 3.91%–even after jobless claims that were less than expected and decent retail sales numbers. Equities are struggling just a bit–but higher. We are at all time highs—crazy—hope a soft landing is coming.

10 thoughts on “Party Hearty!!”

      1. Thanks Maine – I have been lax at a thank you for 2023 so need to get that out.

  1. MINDP in @ $9.25 300 shares for a flip.
    Crazy action – closed yesterday at 12.25, after hours low last night $6, opened today at 7.80.
    The common had a 1:10 rev stk split on Oct 13.
    BoD declared a Series A Preferred Stock cash dividend of $0.5625 per share for the quarterly period that began on August 1 and ended on October 31, 2023

    1. MINDP 8-K 12/13
      “While no firm decisions have been made, we currently believe it unlikely that we will declare dividends on our preferred stock for the foreseeable future,” concluded Capps

  2. There’s a sea of green out there for us today. That’s a beautiful thing. My problem today is finding others preferreds to swap into. Some big winners today. Please don’t pop my bubble JP.

    1. you guys are so much better at this than me. I just look at the green and am usually content. I’m way to scared to start flipping things

      1. lukkyseven –

        Sell something that’s appreciated and buy something else comparable that isn’t up. I prefer from same issuer but that’s not a requirement. For example, I had one that was up 97 cents today. Similar one from the same issuer with a nearly identical yield was up only 48 cents. I netted 49 cents and I still have the same number of shares and I’ll collect the same yield going forward. It’s not rocket science.

        Don’t try this if you’re not comfortable with it. But if you get the hang of it, it bumps up the annual return significantly.

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