RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Results OutJayBanks wrote: Usually the plan is for a full exit unless I'm selling to pay for something which is rare. If I'm selling I've had plan change or achieved a goal. But I've had messy exits where I've only had partial sells as I like to use limit orders, like yesterday I had a 11,000 sell order on PJX and because of low volume only 500 sold, still trying to exit but hopefully all shares go instead of a partial.
I've never bought preferred, every time I see preferred they are usually yielding a percent or 2 bellow the commons so I rather hold the commons as I've never seen a situation yet that preferred status put them in a position to get paid and the commons didn't. I'm sure it's happened, but I'm not aware of it, so the preferential treatment I've never seen an advantage in and so I've never explored preferreds even when I've read the odd article on them on Seeking Alpha.
I do like what SPB does as a product valueupgrader and specialized refiner. Especially since some of the products are becoming more internationally requested like propane. I own Altagas who talks about shipping LNG and Propane amongst other products to China and others through thier facilities and how there's a lack of ability to move those products to growingly interested customers.
Mortgage companys are my favourite plays because they are rather simple and most profits are distributed like a REIT and more so than a royalty. TF is always on my radar but it's only on a buy list when above 8% but because of its strength it's usually behind other interests even when it gets there. BRE usually is best yeilding of the area but it's chunky as it's low volume and not well followed, I took advantage of the unreasonable fall below 15.50 and pilled in, FC was attractive because the specials have given an extra half a percent or more to the yeild at years end until last years disappointment,
MKP is my favourite play and my longest owned company in my TFSA, they are super good to shareholders, return a ton to shareholders, it's position will make up over 1/3 of my TFSA at the end of this week as they are paying anouther special in shares, and over 15% of my entire portfolio and it's responsible for over 25% of my dividends annually. I get an 11.25% yeild currently which I think will be close to 11.6% by end of the week when the special is paid out. I originally bought years ago for a little over 8% yeild, but I've taken advantage of rights offerings and a couple advantageous add ons. I'm way overweight and been trying to reduce that naturally but last year had 2 rights offerings and this is the 2nd special paid in shares in a little over a year so that's advantageously gone against my intentions.
FN is a rather new find in the sector for me that has me intrigued for its growth profile underneath the surface, but it's just had a bad earnings which surprised me and I don't know if I respect it's area of the sector as it seems to deal with larger elite customers. It seems like rich people supporting rich people with discounted mortgages as they deal with extreamly large mortgages. Until the BRE drop I was going to cycle FC into FN, but I surprisingly had unexpected money open up at the same time BRE way over sold which made me make a snap decision to take advantage of, so now I'm working out the pivot to my plans as I await an hopeful exit to FC and maybe an only short term hold to BRE both for large profits.
Most of these mortgages companies are 2nd teir lenders and some have specialized services to the real estate companies. They don't take as many hits as you would expect. When the government tightened mortgages rules it pushed more customers to 2nd teir lenders as regular banks have more rules and could not lend to those with a riskier profile. And during the mortgage pull back these guys seen very little effect as thier clients were stable. They have low and stable borrowing costs when they dip in, some write thier own notes and for the most part use shareholder equity to fund the lending to customers rather than taking on debt. I also find they are rather unfollowed and have a general lack of interest because of thier status. I personally have made out very well in this sector.
I've had partial filled orders on buy and sell side too. Can be a pain. I'm actually still holding a few hundred shares of a company I tried to unload years ago before it's share price collapsed.
I've done really good on preferreds. They've all doubled. I bought a few different names. I added to my position in one a couple of weeks ago because it pulled back and the yield went back up to 9%. My initial buy yields me 15.5%.
You know your mortgage companies well. I don't have the same comfort level in that sector so I've avoided it. TF would probably be the one I would buy personally. I feel they're more conservative which fits my strategy now.
I used to be higher risk investor, mostly bought junior resource stocks. Now I don't have the stomach for it. Lol