Wednesday, September 9, 2015

Update for CEF Basket Strategy as of 9/9/15

Update For CEF Basket Strategy As Of 9/9/15 - South Gent | Seeking Alpha

GATEWAY POST: Main Table of Contents

FINRA has changed its link information so many of my prior links to that site will no longer work.  I changed my link in this post to the main FINRA site since the old one no longer worked due to that change. 

My lack of qualifications for writing this blog are detailed in Stocks, Bonds & Politics: OG's Qualifications and Lack of Qualifications.

For any new readers, RB stands for my Right Brain and LB for my Left Brain, both in a constant state of discord. The Headknocker (HK), the ultimate boss here at HQ, sometimes referred to as the Great Leader with a tinge of sarcasm, is exactly what the name describes, a real hard case, a more enhanced and older version of the young LB sometimes pictured in the profile section of the post. The LB still believes it is 16 years old (or not a day over 21), with a lot of hair, capable of running a mile without drawing a deep breath, without an ounce of body fat, referring frequently to itself as the Young Stock Stud. The LB is the only Focus Machine at HQ.

The Old Geezer (OG) is a more mellow version of the HK, who reads theology and philosophy, and who is at least willing to listen to the RB, but frequently is subject to a case of nerves which has never afflicted the HK for even a nano second. The HK frequently sends the OG to the Old Folks Home for one or more transgressions involving a failure to advance HK's capital position as Head Trader, which is rarely important to the OG, but is the only important matter to the HK.

All of these characters are caricatures of different personality traits of one individual investor, who is finely attuned to all of their voices, now in his fourth decade of managing his own money.

The left brain (LB) is serious, rational, logical, analytical, organized and highly focused, a linear thinker absorbed with details and looking at the parts rather than the big picture. The right brain (RB) is the antithesis of the LB. The RB is subjective, intuitive & led by feelings, impulsive, creative, emotional, unfocused, and capable of seeing the big picture unlike the LB.

Most of these discussions, involving these personalities and brain characteristics, are intended for instructional purposes, and sometimes for humor. The topic of the role played by the brain structure in making investment decisions is explored in Jason Zweig's book : " Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich" Zweig would call my LB the reflective brain and my RB the reflexive. The reflexive brain gets the first crack at decision making, often the only crack for many investors, which would be viewed as a mortal sin here at HQ.

Being a prolific and wordy writer, this blog has expanded in a short time to over 1900 posts since October 2008, mostly long ones. Consequently, the best way to find specific information in this blog now is to use the Google search box on the right hand side rather than the search box at the top left hand side.

I would recommend that anyone interested in Trust Preferred, Trust Certificates or other exchange traded bonds register at the free site That site has links to the prospectuses and has other helpful information including credit ratings and a list of the preferred stocks that pay qualified dividends under current U.S. tax law.

Anyone interested in Bonds needs to become familiar with the free FINRA site.   Company Infomation

FINRA links made prior to mid-2014 or so no longer work due to a change in the links made by Finra.    

To find information about a firm's bonds, just enter the stock symbol, click go, then scroll to bond in the "search box", and then you will be on the bond page for that company.  You can also search for each bond the trades by customized dates at the bottom of each page.

Bond searches can also start at this Finra page: Bonds Home

Some links in this post will cease to work with the passage of time.


Gateway Posts for Asset Allocation Theory and Practice:

Using Volatility as a Risk Management Tool for Equity Preferred Stocks: Embracing Volatility as A Risk Management Tool In the Sub-Asset Class of Equity Preferred Stock

Stocks for the Long Run and Professor Siegel:  To Professor Siegel: Time for a Re-Think  The Roller Coaster Ride of the Long Term Secular Bear Market  Duality of Long Term Risks Long Term Stock Risks and Situational Risk/Managing Lost Opportunity Risk in a Long Term Secular Bull and Bear Markets  1974 or 1982: Start of Cyclical Bull in a Long Term Secular Bear Market or the Start of Secular Bull Market? More on 1982 or 1974  Continued Discussion on 1982 or 1974 Historical VIX Patterns The Importance of Identifying the Underlying Causes of Long Term Bull and Bear Markets LONG TERM SECULAR BULL PATTERN 1950 TO 1966/ Long Term Secular Bear Pattern from The Great Depression VIX Chart from 2007: Alerts and Triggers Major Disruption of Cyclical Stable Bull VIX Pattern Static v. Dynamic Asset Allocation Instability & Volatility in Asset Correlations

Gateway Posts for Bonds, Preferred Stocks and European Hybrids:
Exchange Traded Bonds (9/2009 Post)

ING PREFERRED (Hybrid Securities): ING HYBRIDS: Links in one Post

Junk Bond Ladder Strategy (no longer being updated as of 11/1/2012)
Personal Risk Ratings For Junk Bonds (no longer being updated as of 11/1/2012)
FINRA Links to Bonds in Junk Bond Ladder Strategy
Realized Gains Junk Bond Ladder Strategy(no longer being updated as of of 11/1/2012)
Junk Bond Ladder Table 7/25/12 Post 

Exchange Traded "Principal Protected" Unsecured Senior Notes: Item # 1  Principal Protected Notes; Item # 2  Principal Protected Notes (Links Just to Some of the Posts Discussing Citigroup Funding Notes-Guaranteed by Citigroup as Provided in the Relevant Prospectus: 100 MKZ bought at 9.96Bought 100 MKZ at 9.91 in the Roth IRABought 100 MYP at $10.12Bought 100 MHC at 9.8Bought 100 MOU at $10.12Bought 100 MBC at 9.84Bought 100 MBC at 9.78Bought 100 MKN at 9.85 January 2010Bought 200 MOL at 9.95Sold 100 MOL @ 10.3Bought 100 MTY at $10.03Bought 100 MTY at 10.49)

There are over 1900 posts in this blog and the foregoing are just some of the major stock and bond topics.