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The 10 Most Recent Messages By yodaorange

Take me back to where I was.
  • Date: 8/20/16 6:19 PM
  • Number: 80688
  • Recommendations: 18
LaKitKat asked: "Is anybody here buying bonds or other debt?"

KitKat, yes we are selectively buying bonds and other debt in a fashion. The point to consider is IF and it is a big IF, long term rates went up 2% instantaneously,
(Continued...)
  • Date: 8/15/16 2:05 AM
  • Number: 80655
  • Recommendations: 9
From WSJ:

Real-estate investment trust MAA is nearing a deal to buy Post Properties Inc. for about $4 billion, bringing together two major apartment owners who have benefited from a boom in rental demand.

Post investors are to get
(Continued...)
  • Date: 8/13/16 10:44 PM
  • Number: 80654
  • Recommendations: 31
I read Brad's article comparing O's FFO yield to the US Treasury 10 year. REIT common yields are most often compared to Moody's Corporate Baa rates. The largest difference between the two occurred during the 2008 credit crisis. US
(Continued...)
  • Date: 8/13/16 4:19 PM
  • Number: 502033
  • Recommendations: 21
We deal with a large amount of uncertainty in the financial markets. Forecasts of interest rates and equity values are fairly close to random events. If you banished financial forecasters that were grossly wrong to Siberia, CNBC would broadcast all
(Continued...)
  • Date: 8/10/16 6:23 PM
  • Number: 80648
  • Recommendations: 28
PSA recently floated a new preferred (PSA-pD) with the first sub 5.0% coupon which is an all time low for REITS. Many other REITS have floated new issues with proportionally lower coupons.

Along with all of these new issues with low yields,
(Continued...)
  • Date: 8/9/16 8:39 PM
  • Number: 80646
  • Recommendations: 28
I have previously posted that a winning strategy for 2016 has been to buy newly issued REIT preferreds ASAP. In many cases, we REITsters have been able to buy the issues on the Pink Sheets before they start trading on the NYSE. We have had
(Continued...)
  • Date: 8/3/16 12:08 AM
  • Number: 80595
  • Recommendations: 33
Owning REIT preferreds is kind of like going to school. There is a new class of students every semester that has to learn the subject matter.

Today's lesson was on the callability of preferreds. It was taught by Vornado. They decided
(Continued...)
  • Date: 7/29/16 10:00 PM
  • Number: 501276
  • Recommendations: 28
Yoda is suffering from a temporary lack of diplomacy. It is not politically correct to call anyone insane for any reason. We will make an exception for the new buyers of Chicago school bonds. The Chicago school system is suffering from chronic
(Continued...)
  • Date: 7/29/16 5:32 PM
  • Number: 20562
  • Recommendations: 42
For a given set of assumptions, there is an exact answer that maximizes the present value of SS benefits. There is NO reason to speculate. You can change the assumptions and get a different recommendation. SS “Claiming Strategies” is complex enough
(Continued...)
  • Date: 7/28/16 1:18 AM
  • Number: 80579
  • Recommendations: 17
A few comments regarding RNP:

1) RNP is like a sleeper sofa. You can buy a bed or you can buy a sofa. A sleeper sofa is not as good a sofa as a standalone sofa. A sleeper sofa is not as good a bed as a standalone bed.

2) RNP is a
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Take me back to where I was.
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