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The 10 Most Recent Messages By yodaorange

Take me back to where I was.
  • Date: 3/4/15 2:00 AM
  • Number: 78051
  • Recommendations: 14
Duration, thanks for posting about bond defaults. I suspect most of the folks around here (REITsters) have not modeled the capital stack and/or recovery rates for bonds. As you know much better than I do, it is an area of specialty typically used
(Continued...)
  • Date: 3/2/15 9:54 PM
  • Number: 78041
  • Recommendations: 31
Attached is the list of all REIT preferreds with several pieces of information:

NAREIT Sector and Subsector

The First Call Date

Coupon Yield which is the yield when the issue trades at “par”, typically $25 per
(Continued...)
  • Date: 3/2/15 12:56 AM
  • Number: 78028
  • Recommendations: 14
Two points:

1) TJBerko suggests using a bond yield calculator. It might be easier to use, but it is did not give an accurate calculation in the sample I tried. I tried a case where the yield to first call is negative, but the calculator
(Continued...)
  • Date: 3/1/15 6:20 PM
  • Number: 78021
  • Recommendations: 32
(This is a cut and paste from May 2013. We are entering a similar period where many REIT preferreds might be called. Some newer readers might not be aware of this risk.)

REITnut and Yoda strongly urge you to READ this before buying REIT
(Continued...)
  • Date: 2/28/15 12:54 AM
  • Number: 468829
  • Recommendations: 2
From Bloomberg:

The closure will cost the Deposit Insurance Fund an estimated $748.9 million, the FDIC said.

(Continued...)
  • Date: 2/28/15 12:01 AM
  • Number: 78012
  • Recommendations: 22
This is an interesting topic. I will do a separate post on “Buying Individual Bonds.” There are enough quirks to it that I do not want to go off into the weeds on this topic. I will cover how the markets work and several different screening tools
(Continued...)
  • Date: 2/24/15 10:15 PM
  • Number: 77985
  • Recommendations: 14
Jim, referring to ETRACS Monthly Pay 2xLeveraged Mortgage REIT (MORL) asks:

Pythonesque "Run Away.. Run Away"!

EXECUTIVE SUMMARY: Yes, run run as fast as you can, you can’t catch me I’m the equity man. (A takeoff on
(Continued...)
  • Date: 2/15/15 4:53 PM
  • Number: 77946
  • Recommendations: 0
  • Date: 2/13/15 7:33 PM
  • Number: 77944
  • Recommendations: 44
Can Popular REIT's avoid a Rate hit?

Yoda's answer is a little different from both the WSJ story and the "Wealth of Common Sense" blog post. There are three different scenarios to consider IMO.

1) In the short term, say
(Continued...)
  • Date: 2/8/15 12:36 AM
  • Number: 467819
  • Recommendations: 30
CNN Money has a story today questioning if Federal Income Tax refunds are being delayed for taxpayers that owe the Obamacare penalty. [1] This is the first year that you must state whether you are covered by health insurance or not. If you or your
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Total = 10

Take me back to where I was.
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