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The 10 Most Recent Messages By BenHacker

Take me back to where I was.
  • Date: 10/14/18 2:00 PM
  • Number: 26200
  • Recommendations: 8
Rich, I think DTB kind of hit the nail on the head.

I think Eddie has earned this reputation you mention (that he is disadvantaging others for his own enrichment) *because* Sears has sucked; so that he somehow profited at someone's
(Continued...)
  • Date: 10/13/18 12:22 PM
  • Number: 26197
  • Recommendations: 0
"You did acknowledge the non-negligible risk of this happening, so it may still have been a good bet, even if it didn't work out.

Now trading at essentially what you predicted for BK value? Will you hold out for
(Continued...)
  • Date: 10/11/18 6:39 PM
  • Number: 26195
  • Recommendations: 1
So...

Rumor of filing by Monday payment.

BoD apparently unwilling to endorse ESL plan due to legal liability... essentially my thesis that filing would be avoided due to cost is overwhlemed by BoD fear of liability cost to them
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  • Date: 9/27/18 7:39 PM
  • Number: 3068
  • Recommendations: 0
Interesting news.

Seems like all signs point to downward here. Not sure what would be the urgency to buy here at $270... but I haven't understood buyers here for a while...
  • Date: 9/26/18 3:56 AM
  • Number: 26194
  • Recommendations: 8
Stroll down memory lane as I recall the debates here over the years.

Stock closing back in on <$1 pricing. Just an amazing fall and rise, and fall again.

Every time I walk in one, i still don't know why it exists.
  • Date: 9/21/18 2:27 PM
  • Number: 3033
  • Recommendations: 2
Martian:

"good example is ty preferred

credit risk: ZERO (fund is 1.56b assets; this issue is 30m and it pays 1.5m at par; there are also restrictions on the fund itself that essentially render this fund risk-free barring

(Continued...)
  • Date: 9/21/18 12:09 PM
  • Number: 3022
  • Recommendations: 2
"since we're all guessing I'm assuming he meant 'current yield' but there's no way I can answer that without knowing the risks."

Yeah, to me it's 100% impossible unless we are talking about a return
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  • Date: 9/17/18 11:43 PM
  • Number: 26192
  • Recommendations: 2
ET, great post as always.

Excellent note on the Jones Act, a fact I neglected to mention.

I too had kind of off and on followed CNRD for a while. As noted, I'm not super pumped about it, but I kind of peg it as a 10-12%+ ROE
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  • Date: 9/16/18 1:01 PM
  • Number: 26190
  • Recommendations: 3
I put a post on these in the Bond / Income board in May - so read that for some more background (common dropped $0.5 since then, and preferreds are slightly cheaper):

(Continued...)
  • Date: 9/16/18 12:53 PM
  • Number: 26189
  • Recommendations: 5
About a year ago I sold out of my long OTC traded SSRAP notes. The ongoing operating losses moved to the point where I had lost confidence of my SRAC notes being made whole long term.

Interestingly enough, the market for SRAC notes has
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Take me back to where I was.
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