It is a joy to see my portfolio to be in the green
…it’s a joy to still be 50%+ in cash. I just need to figure out what to do with it before the printing presses really start working overtime. Any suggestions out there?
Buy some real estate - prices are down as we know and its a good inflation hedge
make a shirt out of it, like Tracy Jordan did on 30 Rock…don’t forget the solid gold sneakers too
YES! I love 30 Rock! tvPM Wrote: ------------------------------------------------------- > make a shirt out of it, like Tracy Jordan did on > 30 Rock…don’t forget the solid gold sneakers > too
i bought the BAC convertible Pfd for a 20% yield, 4yr Hard no call, pari passu govt pfd… also bought the PFF to diversify… shorted some RHT in early trading.
I like the idea of pfds right now… but PFF top 25 hldgs… not a real encouraging read: Wells Fargo Cap Iv Pfd Citigroup Cap Viii Pfd Citigroup Cap Ix Pfd Usb Cap Xi Pfd Schering Plough Cv Freeport-Mcmoran Copper & Gold Cv Natl City Cap Tr Ii Pfd Bac Cap Tr X Pfd Bac Cap Tr Ii Pfd Metlife Pfd J P Morgan Chase Cap Xi Pfd J P Morgan Chase Cap X Pfd Deutsche Bk Cap Fdg Tr Viii Pfd Public Storage Pfd Public Storage Pfd Abn Amro Cap Fdg T Abn Amro Cap Fdg V Santander Fin Pfd S A Unipersonal Pfd Morgan Stanley Cap Tr Iii Pfd Wachovia Pfd Fdg Pfd Goldman Sachs Grp Pfd Royal Bk Scotland Grp Barclays Bk Merrill Lynch Pfd Ford Mtr Pfd American Gen Fin Corp 4 7/8% 5/15/10 @ 60 for a YTM round 50%… if you like Citi and Ford you like AIG then right?!?
slouiscar Wrote: ------------------------------------------------------- > I like the idea of pfds right now… but PFF top > 25 hldgs… not a real encouraging read: > > Wells Fargo Cap Iv Pfd > Citigroup Cap Viii Pfd > Citigroup Cap Ix Pfd > Usb Cap Xi Pfd > Schering Plough Cv > Freeport-Mcmoran Copper & Gold Cv > Natl City Cap Tr Ii Pfd > Bac Cap Tr X Pfd > Bac Cap Tr Ii Pfd > Metlife Pfd > J P Morgan Chase Cap Xi Pfd > J P Morgan Chase Cap X Pfd > Deutsche Bk Cap Fdg Tr Viii Pfd > Public Storage Pfd > Public Storage Pfd > Abn Amro Cap Fdg T > Abn Amro Cap Fdg V > Santander Fin Pfd S A Unipersonal Pfd > Morgan Stanley Cap Tr Iii Pfd > Wachovia Pfd Fdg Pfd > Goldman Sachs Grp Pfd > Royal Bk Scotland Grp > Barclays Bk > Merrill Lynch Pfd > Ford Mtr Pfd > > > American Gen Fin Corp 4 7/8% 5/15/10 @ 60 for a > YTM round 50%… if you like Citi and Ford you > like AIG then right?!? if the US govt is going to print money and give to banks/insurance then I will buy these all day long…
no_slogan Wrote: ------------------------------------------------------- > …it’s a joy to still be 50%+ in cash. I just > need to figure out what to do with it before the > printing presses really start working overtime. > Any suggestions out there? short term bond mutual fund. prices are way depressed, yields are high, investment is liquid and great for emergency funds.
Yikes. Fair enough though since I assume that is the administration’s plan. Oct-early Jan pfds ran 25-40%. Then in a week they gave back 20-30%. PFF was down 10% or so today. Market timing is tough, but who knows, maybe these bounce a couple more times before this is over. I am not smart enough to call those. That aside, I am not convinced printing money is a sustainable LT strategy to solve the current crisis. Assuming it is, well, I am not convinced F, C, Met, RBS, BAC, will see that risk premium built into those yields decline significantly. So that citi pfd down 18% today to 9.36 yielding >45%… that isn’t likely to sniff 22 again any time soon, can it? In the next 12 months how likely is it that we will just wake up one day and say, “hmm, F, now there is a great buy…” So, my point was, there are some attractive pfds right now, but the PFF tracking the S&P US pfd Index… eh, why diversify if you are going to diversify into, uh, crap. reminds me of that dilbert that ran recently, instead of buying one sick cow, lets reduce risk by diversifying into 100 sick cows. *Edit: actually it was dogbert… “It would be unwise to invest in just one sick cow, but if you aggregate a bunch of them together the risk goes away. It’s called math.”
artvandalay Wrote: ------------------------------------------------------- > Buy some real estate - prices are down as we know > and its a good inflation hedge I’m in downtown Stamford and the prices just haven’t cratered like they have in other parts of the country. I’m to much of a nomad anyways to want to buy an illiquid asset that will keep me stuck here. i don’t even own a car. i know this may sound crazy but i’m thinking about selling covered put options on the SPY/QQQQ very soon and using the income generated to buy GLD