tag:blogger.com,1999:blog-2986124651030959736.post5126662054682122703..comments2024-03-26T21:50:50.895-05:00Comments on Stocks, Bonds & Politics: Observations and Sample of Recent Trades: Pared GE AgainTENNINDEPENDENThttp://www.blogger.com/profile/17444227958539559639noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2986124651030959736.post-86151631254187753592017-07-15T09:28:35.890-05:002017-07-15T09:28:35.890-05:00I have published a new post:
https://tennesseein...I have published a new post: <br /><br />https://tennesseeindependent.blogspot.com/2017/07/observations-and-recent-trades-bgeprb.htmlTENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-41726220156611616962017-07-13T11:05:15.069-05:002017-07-13T11:05:15.069-05:00Over the past month, the three month Canadian trea...Over the past month, the three month Canadian treasury bill has been trending up in advance of yesterday's .25% increase in the Bank of Canada's benchmark rate. The 3 month T Bill was around .55% (6/20/17) and is currently near .75%. <br /><br />https://www.investing.com/rates-bonds/canada-3-month-bond-yield<br /><br />As I have discussed in previous posts, there are several Canadian reset equity preferred stocks that pay a spread over the 3 month Canadian T Bill rate. I have already taken profits in several of them that were bought at large discounts to their C$25 par values. <br /><br />I still own a few including two separate preferred stocks issued by Fairfax Financial. <br /><br />FFHPRD 3 month +3.15%<br />Last Trade at $22.30<br />http://www.marketwatch.com/investing/stock/ffh.pr.d?countrycode=ca<br /><br />Bought at C$17.78<br />https://seekingalpha.com/instablog/434935-south-gent/4939799-south-gents-comment-blog-7-reits-preferred-stocks-bonds-regional-banks-healthcare-and#comment-73795513<br /><br /><br />FFHPRF 3 month +2.16%<br />Last Trade at $16.90<br /> http://www.marketwatch.com/investing/stock/ffh.pr.f?countrycode=ca<br /><br />Bought at C$12.36<br />https://seekingalpha.com/instablog/434935-south-gent/4868060-update-exchange-traded-bond-preferred-stock-basket-strategy-april-1-2016<br /><br />TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-85173256965521363362017-07-13T10:40:45.260-05:002017-07-13T10:40:45.260-05:00NVS: As I mentioned in the previous comment, it wa...NVS: As I mentioned in the previous comment, it was expected that the FDA advisory panel would recommend approval of this drug. Consequently, it was hard to justify the after hours spurt in price. <br /><br />Today, NVS is giving up most of yesterday's gain made during regular trading hours. <br /><br />Novartis AG (NVS)<br />$82.49 -$0.72 (-0.87%)<br />As of 11:37AM EDT<br /><br />Still, the FDA panel's decision was an important milestone for CAR-T drugs: <br /><br /> https://www.thestreet.com/story/14226114/1/recommendation-for-novartis-may-give-new-hope-for-some-cancer-patients.htmlTENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-47254711732639398802017-07-13T08:57:26.475-05:002017-07-13T08:57:26.475-05:00FOLD:
Might as well get this out of the way afte...FOLD: <br /><br />Might as well get this out of the way after a price surge: <br /><br />FOLD "announced the pricing of an underwritten offering of 18,367,347 shares of its common stock at $12.25 per share. The gross proceeds from the offering to Amicus are expected to be $225 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Amicus. In addition, Amicus has granted the underwriters a 30-day option to purchase up to an additional 2,755,102 shares of its common stock."<br /><br />"Amicus Therapeutics Prices Underwritten Offering of Common Stock"<br />http://globenewswire.com/news-release/2017/07/13/1043243/0/en/Amicus-Therapeutics-Prices-Underwritten-Offering-of-Common-Stock.htmlTENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-87020421653056080002017-07-12T16:34:14.741-05:002017-07-12T16:34:14.741-05:00Fortress Biotech Inc. (FBIO):
http://www.marketwa...Fortress Biotech Inc. (FBIO): <br />http://www.marketwatch.com/investing/stock/fbio<br /><br />Website: <br />http://www.fortressbiotech.com/<br /><br />Pipeline<br />http://www.fortressbiotech.com/product-portfolio/under-development.cfm<br /><br />2017 First Quarter Report: <br />http://globenewswire.com/news-release/2017/05/10/982080/0/en/Fortress-Biotech-Reports-First-Quarter-2017-Financial-Results-and-Recent-Corporate-Highlights.html<br /><br />I have been adding to my small cap biotech lottery ticket basket, primarily for my own entertainment. I may briefly discuss some of those adds in a subsequent post. <br /><br />I bought today, for example, 50 shares of FBIO, which is a strange company. I short circuited too many of my few remaining brain cells researching it. So I had to cut a cursory effort short and just buy 50 shares at $4.5 today. <br /><br />One oddity is that the company has bought a controlling interest in a small brokerage company that is used to take public what it calls subsidiary small biotech companies. That company is publicly traded and is called National Holdings (NHLD), which ran into some trouble a few years back: <br /><br />NHLD First Quarter Report: <br /> http://globenewswire.com/news-release/2017/05/16/985401/0/en/National-Holdings-Corporation-Reports-Financial-Results-for-Fiscal-Second-Quarter-2017.html<br /><br />According to the last filed 10-Q for National, Fortress owns 56.6% of its stocks:<br /><br />Note 19 at page 21: <br />https://www.sec.gov/Archives/edgar/data/1023844/000102384417000009/nhld0331201710-q.htm<br /><br />Note 20: "During the three and six months ended March 31, 2017, Investment Banking revenues include approximately $5,916,000 and $8,581,000, respectively, of fees related to a private placement of shares and warrants for a subsidiary of Fortress."<br /><br />Diagram of Fortress Biotech Companies: <br />http://www.fortressbiotech.com/portfolio-companies.cfm<br /><br />Two of those companies have recently had their IPOs: <br /><br />Avenue Therapeutics (ATXI) Completes Initial Public Offering<br />http://globenewswire.com/news-release/2017/06/30/1035558/0/en/Avenue-Therapeutics-Completes-Initial-Public-Offering.html<br /><br />Checkpoint Therapeutics (CKPT) Commences Trading on the NASDAQ<br />http://globenewswire.com/news-release/2017/06/26/1028954/0/en/Checkpoint-Therapeutics-Commences-Trading-on-the-NASDAQ-Capital-Market.html<br /> <br /><br />December 2016 Marketwatch article: <br /> http://www.marketwatch.com/story/fortress-bio-soars-after-reporting-breakthrough-with-car-t-cancer-approach-2016-12-28<br /><br /><br />Mustang Bio First Quarter Results: <br />http://globenewswire.com/news-release/2017/05/15/985092/0/en/Mustang-Bio-Reports-First-Quarter-2017-Financial-Results-and-Recent-Corporate-Highlights.html<br /><br />Mustang raised $95M in a private placement<br /><br />http://globenewswire.com/news-release/2017/02/02/913313/0/en/National-Holdings-OPN-Capital-Markets-Closes-94-5-Million-Private-Placement-Financing-for-Mustang-Bio-Inc-a-Subsidiary-of-Fortress-Biotech.html?parent=985401<br /><br />After spending some time looking into National Holdings, I bought 100 at $2.79 as part of my larger Lottery Ticket basket which has been reactivated: <br /><br />https://tennesseeindependent.blogspot.com/2011/10/lottery-ticket-strategy-new-gateway-post.html<br /><br />I am no longer tracking net profits and losses in that basket. <br /><br />As of 10/1//15, the net profit stood at $14,012.42 and is higher now. I have increased my exposure limit for a Lotto from $300 to $1K. <br />TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-32919041255922715482017-07-12T15:53:06.685-05:002017-07-12T15:53:06.685-05:00NVS-Own 130 + Shares Purchased with
Annual Divide...NVS-Own 130 + Shares Purchased with <br />Annual Dividends <br /><br />NVS rose $1.22 to close at $83.21 today and is up another $1.79 in after hours trading so far: <br /><br />https://finance.yahoo.com/quote/NVS?ql=1&p=NVS<br /><br />As expected, the FDA advisory panel recommended that the FDA approve tisagenlecleucel "to treat patients with relapsed B-cell acute lymphoblastic leukemia (ALL), the most common form of U.S. childhood cancer."<br /><br />The vote was 10-0. <br /><br />http://www.reuters.com/article/us-novartis-cancer-idUSKBN19X2OZ<br /><br />http://www.medscape.com/viewarticle/882858TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-26660600714798408482017-07-12T14:44:31.104-05:002017-07-12T14:44:31.104-05:00CAD/USD: Big rally today in the Canadian Dollar ag...CAD/USD: Big rally today in the Canadian Dollar against the USD. <br /><br />The Bank of Canada raised its benchmark rate by .25%.<br /><br />This article has a USD/CAD chart which highlights the dollar's recent weakness, which I discussed in a recent comment. <br /><br /> https://www.fxstreet.com/news/usd-cad-tumbles-below-12800-hits-1-year-lows-201707121618<br /><br />The USD/CAD was at 1.375 on 5/5/17 and is now down to 1.273 (i.e. 1 USD bought C$1.375 and now buys C$1.273)<br /><br />Yellen sounded more dovish today which may be contributing to the CAD's rise in value. <br /><br /><br />http://www.marketwatch.com/story/us-stock-futures-in-holding-pattern-as-traders-wait-for-yellen-2017-07-12<br /><br />Bonds are in a rally mode probably due to her comments. <br /><br />Many have referred to her recent comments as hawkish, which I view as a mischaracterization. <br /><br />She has only moved from extremely dovish to somewhat less dovish. <br /><br />For someone who has been around a few decades, raising the FF rate to 1% from a zero bound rate held in place for about seven years and maintaining a bloated FED balance sheet of over $4.2 trillion eight years into an economic recovery, is not hawkish but only slightly less dovish. <br /><br />The CAD, which is viewed by many as a commodity currency, is also probably getting a lift from the rise in crude oil over the past few days. <br /><br />From an investing standpoint, the increase in the CAD/USD exchange rate will cause USD priced Canadian stocks to outperform the same stocks traded in Toronto and priced in CADs. <br /><br />I gave earlier an illustration of my position in the USD priced Toronto Dominion shares. <br /><br />Based on the CAD's rise today, the outperformance of the USD priced shares have increased: <br /><br />The Toronto-Dominion Bank (TD)<br />$51.25+0.86 (+1.71%)<br /><br />Toronto-Dominion Bank (TD.TO)<br />Toronto Currency in CAD<br />As of 3:32PM EDT<br />C$65.30 +0.16 (+0.25%)<br />As of 3:17PM EDT.<br /><br />I have not discussed here several USD priced Canadian stock purchases that I made when the CAD/USD was closer to .72. Those purchases include some Pink Sheet and Grey Market U.S. listings for Canadian REITs. All of those purchases are trades. As I have said previously, I will only use Schwab to buy Canadian Grey market listed securities since I can buy commission free and the price is already converted by the broker from CADs to USDs. An example would be the Grey Market listed ordinary shares of Northwest Healthcare Properties: <br /><br />http://www.otcmarkets.com/stock/NWHUF/quote<br /><br />Some of the Canadian REITs are listed on the easier to trade pink sheet exchange (e.g. AHOTF, ARESF, CDPYF, RIOCF )<br /><br />Some U.S. brokers will charge a huge fee for orders in the U.S. Grey Market. Fidelity will hit its customers with a $50 fee on some listed GM securities for example in addition to its normal commission rate. That kind of fee will not be paid by me. TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.com