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You can ask IB to convert the foreign ordinary (ATUSF) to the Canadian ticker. They will charge you $10 I think.

I still own 100 shares of ITIC even though it is not cheap anymore. I bought at less than book value ($30 per share) in 2010/11 and sold all but 100 shares when it started trading in excess of book value from 75-90. But I kept 100 shares to continue to be involved because I liked the company so much. It is so closely held that I think nobody is around now to sell it at more than 2x book ($170). The increase since 11/1 is ridiculous.

A better (than MHY.UN) way to bet on Cline is MAR which has .43 of NAV concentrated in the debt of energy companies (which has performed well recently) and .45 of NAV in Cline all for the low low price of .35. So get paid to own Cline...

TCK offers a reasonably priced option on met coal price. A price around $18 assumes a $130/t met coal price I had heard, but I haven't confirmed it. I have a small position that used to be much larger and severely underwater down around $7. I also bought a small position in BHP recently. So that is how I recently went long met coal. I still have a lot of MHY.UN - one of the best ideas I've traded in the last 2 years. Thanks again Sculpin for pointing it out! I don't anticipate the Cline mine ever working out though, but I have seen crazier things in met coal world.

As of March 31, 2016, International Shipholding reported total assets of approximately $305,087,000 on its unaudited consolidated balance sheets, of which approximately $59,399,000 were current assets. The remaining $245,688,000 in reported assets related to (i) vessels, property, and other equipment, net of accumulated depreciation, (ii) deferred charges, net of accumulated amortization, (iii) amounts due from related parties, (iv) notes receivable, (v) investment in unconsolidated entities, and (vi) other long-term assets. Total current liabilities was $179 mm including $114 secured debt. They booked deferred gains as a liability of $21 million (not sure how to treat this) and listed other liabilities of $24 million on the 3/31 balance sheet. I am hoping they can get the balance sheet number ($170 million) for the ships if it comes to that (considering recent appraisal was reportedly higher). Their strategic plan had them selling all ships but Jones Act, PCTC, and Rail Ferry - which I take to mean keep the best ones. But they couldn't raise enough so now I think they have to sell better stuff - the 2 Rail Ferry ships (they hint at it in filings), maybe the PCTC too.

Sure - I do. I'll throw out a speculative, distressed, bankrupt - but cheap pos that I was buying yesterday. ICSH International Shipping files Chapter 11 yesterday http://www.intship.com/international-shipholding-corporation-voluntarily-files-for-chapter-11-relief/ Docket is here https://cases.primeclerk.com/ish/Home-DocketInfo Read docket entry 7 for a good summary. March 31 financials show $78 million equity made up of mostly 26 ships on the balance sheet for $171 million (though they say in 10Q that they had a recent appraisal done valuing them for $207 million). However there are 2 classes of preferred; ISHCP and ISHCO that have current liquidation preference of $63 million that have a combined market cap of $7 million at $12 per preferred share. So I don't think equity is entitled to much, but the preferreds look like a buy to me. This is not very liquid to say the least. I do think there is some risk that the plan of reorg tries to finesse some of the recovery from the preferreds to the equity seeing as the insiders own 20% of the equity. An equity committee would be helpful in that regard.

KaChing!.... Congrats!

I'd nominate RAFI as a value trap. There is a write up on VIC that gives basic premise. Since that time they did a nonsensical rights offering to buy a mediocre business for an expensive price. So...not good! But they still will be re leasing and refinancing 50% owned government building worth $100+ million by 2018 and probably sooner. A successful re leasing/refinancing could provide $50 million to RAFI which has a market cap of $45 million. So catalyst imminent and a stock overhang from recent rights offering at $8.25.

From May monitor report:http://cfcanada.fticonsulting.com/argent/docs/Argent%20Third%20Montior_s%20Report_FINAL.pdf Receipts and Disbursements (USD) Receipts Gross Purchase Price $ 45,575,000 Interim statement of adjustments 722,952 Net received by Monitor 46,297,952 Disbursements OGAC success fee (505,750) Escrow fund for final statement of adjustments held by Wells Fargo (505,025) KERP/KEIP payments (1,435,041) Cure payments (1,033,247) Wind-down funds (1,129,194) Interim distribution to Syndicate (39,100,000) Total distributed (43,708,257) Cash currently held by Monitor $ 2,589,695 So it looks like the 226 mm in assets sold for 46 mm! That's a big miss.

They're paying a pr hack for publicity methinks.

http://taurx.com/clinical-trials/

I for one would direct my orders there. IEX fighting the good fight.

I shorted a mining stock into bankruptcy and left the position open only to find out IB charged me short interest at rate times $1 (they round price of all penny stocks UP to $1). So i was paying an exorbitant rate every month (more than the position mark). This makes it prohibitively expensive to short penny stocks and maybe contributes to manipulation. So check the fine print with your broker beforehand!

I did UTMAs back when they were young. Now the one's that work have a Roth. I mostly do odd lot tenders and the like in the accounts which is great for small accounts. I skipped the 529 route for the most part which was probably a mistake. I didn't like the fact that you couldn't actively manage the 529 accounts.

Me too - $38 is roughly 55% of book value, seems like it is over sold after maybe some did not get cashed out at $52.50. Not super cheap on earnings basis, but I think it is a safe, stable investment as company has been around over 100 years, insiders own almost 70%. I suspect insiders know they could sell whole company for close to book value if they wanted too. Company itself was buying stock back around $45 level in past couple of years before going private at $52.50. I like it for a couple month trade until I hope it returns to mid 40s.

Just got my fill report back from AMTD only 30 minutes late...

Execution on orders varied for me. IBKR was fast and flawless. Fidelity was a little glitchy but performed well. AMTD was very slow on trade reports and looks like I missed a fill, so questionable execution.

Don't like the sugar in the mixes. Getting thirsty reading these...

17TH Report Of The Monitor is out. Good news - they seem to have settled issues with all known claimants. First Lien notes will get $163.9 mm. Second Lien notes will get $67.7 mm. Payments will go out by the end of this month. That leaves roughly $111 mm for the Unsecureds. They will settle 2 other unsecured claims for $2.45 mm. No payment on the Quadrangle Subordinate Unsecured Note.

Usually beer, but this recipe for margaritas is spot on: 1/3 tequila (silver from Costco works well, don't notice any improvement with more expensive ones) 1/3 triple sec (I've taste tested with Cointreau and Patron orange - couldn't tell the difference) 1/3 fresh squeezed lime juice ice in the shaker and pour into martini glass Sometimes it comes out a little tart. I have substituted half fresh squeezed OJ for half the lime juice once in a while. I have also added simple syrup, but most of the time tart is fine with me.

Read that - that's a relief Read the proposed Claims Procedure Order. They say Allowed Claims of Senior Noteholders would include principal and interest up to date of Initial Order - which is 9/29/2013. That would mean roughly a $158 million claim, not the $204 million they say was owing in the 15th report. Is this what you mean by no additional interest accruing? Also say Quadrangle gets Allowed Claim for Unsecured Sub Notes ($35 million principal) - but it is subject to Intercreditor Agreement which says they are subordiante to MHY's Unsecured Senior Notes. So I think we are safe there.

Do you want to start a new topic on MHY? It might be easier to go back and forth.

MHY Any guesses to size of additional allowed claims pool? This seems to be largest variable left. They hinted at D&O claims in the 16th report of the monitor. Sure hope Quadrangle (who ate it on $45 million of unsecured sub notes) doesn't make trouble. I am going to guess the secured creditors get their act together and settle disputes allowing payoff of secured debt by the end of this month. That would stop the clock ticking on interest and leave more for the unsecured claims.

I own and kinda like ITIC...seems reasonable to me at roughly book value.

MSN Money provides 6 years and is free.