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What are you buying today?


LowIQinvestor

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More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets.

 

Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market.

 

But maybe I missed something. Not the most fireproof explanation ever.

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More SMTA. As far as I can see all looks good. Vote passed, portfolio sale expected to close in a few weeks, Shopko term loan fully recovered. According to the proxy management expects $8.50 - $9.35 per share in distributions. My own calculations get me closer to the top of that range. In fact even slightly above that range but that probably means I am too optimistic about the workout assets.

 

Shares were initially up today (what I would have expected) but around the close there was massive volume and SMTA ended down ~2% instead. Best explanation I could come up with is that some funds are not allowed to hold companies in liquidation and had to sell at today's close. Seems congruent with what happened in the market.

 

But maybe I missed something. Not the most fireproof explanation ever.

 

Even back in the $8.40s SMTA still looks cheapish to me. Not hard at all to come up with an expected distribution figure of over $9, even using conservative assumptions.

 

 

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Agreed. Already had a decent position but couldn't resist adding yesterday. Now one of my larger positions. Some potential tax issues due to me living in Europe (FIRPTA) but yeah, management estimates seem conservative. Now we'll see where they will burn some money to get distributions in line with their estimates ..

 

Bought some SYRCF today. Similar story.

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250 gallons of heating oil for the home.

 

A value buy it seems as you got in before the spike to $100/ bro that’s some doomsters predict. I think it will be more like $2-5$/brl  and quickly reverse. I doubt there much supply impact from the drone attack.

 

FWIW, so many oil heated homes on the East coast. It would be a great green energy plan to have them all connected to natural gas.

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250 gallons of heating oil for the home.

A value buy it seems as you got in before the spike to $100/ bro that’s some doomsters predict. I think it will be more like $2-5$/brl  and quickly reverse. I doubt there much supply impact from the drone attack.

FWIW, so many oil heated homes on the East coast. It would be a great green energy plan to have them all connected to natural gas.

 

Off topic :

 

I'm shocked reading this. Here, I've been living with district heating the last 35 years. I live in a Danish city [the fourth largest in Denmark, the approximate size the one of Omaha.]

 

- - - o 0 o - - -

 

Back to topic again.

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250 gallons of heating oil for the home.

 

A value buy it seems as you got in before the spike to $100/ bro that’s some doomsters predict. I think it will be more like $2-5$/brl  and quickly reverse. I doubt there much supply impact from the drone attack.

 

FWIW, so many oil heated homes on the East coast. It would be a great green energy plan to have them all connected to natural gas.

 

Does this Gregmal guy ever get his timing wrong? He's on some epic streak!

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