0/ BJBHX — bleeding to death.
1/ BJBHX — just to lose money!
2/ Final goodbye to BJBHX.
3/ BJBHX $0.26 cap gains for 2014.
4/ BJBHX stopped hemorrhaging for a day.
5/ BJBHX depressing news.
6/ BJBHX: sticking it out till 2015.
7/ BJBHX has decent December 2013.
8/ Uncontrollable Infatuation With BJBHX.
9/ BJBHX: I Bailed With Regret.
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IF I had still been in Junk Bonds, and at this time last year, my life depended on them, this would have been SCARY. A STOP on withdrawals is bad at any time BUT particularly so at year end. Folks have taxes to pay, e.g., Property Taxes in New Hampshire, or have need to do some rebalancing for Capital Gains etc. WOW.
So a heads up. It has, with interest rates ready to rise, been a bad year for junk. I am surprised that there is till anybody in them. I just worry that those that are in are those that are OBLIVIOUS that they are in — and that is the dastardly deed of unscrupulous brokers.
So a BIG Heads Up. Get out, with what little you have left, as fast as you can.
by Anura Guruge
1/ BJBHX: sticking it out till 2015 — Nov. 18, 2014.
2/ BJBHX has decent December 2013 — Dec. 23, 2013.
3/ Uncontrollable Infatuation With BJBHX — Mar. 9, 2013.
4/ Artio Global High Income Mutual Fund (BJBHX):
>>I Bailed With Regret – Jan. 3, 2013.
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BJBHX and, as I have mentioned before,
go back a ‘long’ time
— which I think is getting close to 6 years by now.
Yes, during those years BJBHX has driven me to distraction and back a number of times, but I have always gone back. Up until ‘recently’ it always found a way to reward those that stuck with them.
But the last month, since my last update, has been the month from hell. The NAV has been on a steady downward drift. There hasn’t been a single up day in weeks. It is sad and scary. What makes it even worse is that over the last few months Aberdeen has been trying to aggressively push BJBHX has a great high income option in the new Janet Yellen, no-QE but low interest rates climate. See this page and their propaganda. I feel bad for anybody who took the bait in the last month or so. It would have been nothing short of a very bloody bloodbath. Yes, yes, yes. Much of it has to do with the precipitous decline in oil prices and with the hammering taken by junk bonds issued by all the oil companies. But Greg Hopper, the Fund Manager, in his November fund commentary, after blaming the poor performance in October on oil bonds said he had a handle on it. Well his grip must have slipped because the NAV sure is slipping like it hit an oil slick.
I called up Aberdeen 4 times on Thurday. Yes, 4 times. The first call was to make sure that Greg Hopper still had a pulse. They weren’t exactly forthcoming but tried to assure me that Hopper was trying to manage the crisis. Maybe this is all too much for him. Time for a change? His recent performance has been abysmal.
I then discovered that they had posted the ACTUAL year end distribution for BJBHX — the one that will be paid on December 23.
We have since discovered that what they posted was last year’s, i.e., for 2013, not 2014!
Well it can get WORSE. That was my second phone call. Hopper MIGHT have to cut back on the distribution in the next week; ex-div is on December 19, Friday week.
So be warned. Actual distribution might be less than estimated. They might even cancel the entire 2014 distribution — given that they do have the right to do that. Remember, Remember, December 2012. This could be another sorry repetition of that. Same story. Fund lost money so no distribution — SORRY, though Hopper walked away with a nice, fat bonus.
The next two phone calls had to do with the SUPPOSED income dividend, ex-date Dec. 29, to be paid December 31. I fear that this will not happen either. Remember, Remember, December 2012. In 2012 there was just one measly $0.03 distribution in December WITHOUT any warning or explanation.
Well, of course, they won’t comment.
Well this year I am giving you a heads up though I sometimes worry that BJBHX no longer has that many customers.
Well I am sorry to be the bearer of such bad news. But at least forewarned is forearmed. I think it is going to become a fairly simple choice come 2015. Either Hopper goes or I go. There is much easier and less painful ways to fritter away your money than entrusting it to BJBHX.
Happy Holidays Hopper. Thanks for nothing.
After-School “The Hour of Code” Today At Alton Central School (ACS), N.H., For Grades 5 – 8, Attended By 9 Students.
by Anura Guruge
0/ ‘Hour of Code’ with Frozen.
1/ Google’s ‘Holidays are Made With Code’.
2/ 2013 ‘Hour of Code’
3/ ‘Common Core’ & ‘Hour of Code’
++++ Search ‘programming‘ & ‘IBM‘ for other related posts >>>>
I am not sure whether the fact that only 9 students, total, from Grades 5 to 8 attended this afternoon’s optional, after-school ‘Hour of Code’ initiative was good or bad. Only 1 eighth grader attended, our daughter — because I had told her that attending this was non-negotiable.
I gather that most of the other 8 graders believed that this was a ‘stupid’ event. C’est la vie.
There were probably at least 4 reasons for the belief that it was ‘stupid’ and I was concerned about one of them. The first of these obviously is that to 8 graders most things in life are ‘stupid’. Nothing you can do about that. At that age they know everything.
The second reason, and that is valid, is conflicts with other after-school activities. Only way to have avoided that was to have it during school hours and there may have been rules and regulations against that — especially since Obama and Microsoft (the two primary culprits in the “Common Core” crisis) also have a hand in this.
The third reasons could have been plain ignorance as to what the event was all about. I can believe that. “Hour of Code” by itself doesn’t explain much unless you already have an idea what CODE is all about. I plan to do an informal survey on this the next time I am up and about. Wonder how many kids and parents in Alton actually equate ‘code’ say with Facebook, YouTube, Twitter, video games and GPS. That could have been a problem.
BASIC used to be such a great way to teach youngsters the basics of coding. BASIC is available and if I had my way that is what I would have pitched to 8th graders — and YES, I have taught computer programming for money (even to post-graduate students at Southern New Hampshire University (SNHU)). So I do know a little bit about this.
Tomorrow Grades 3 & 4 have their turn. I gather more kids have signed up. Teischan is one of them and she has already done probably close to an hour of code on her own.
In the end this is no big deal one way or another. Good opportunity but if kids miss it now they can still learn coding down the road.
I, in 1969, aged 16 started taking my lessons in programming in Britain. First year it was offered. Changed my life. Two years prior I have never even heard the word computer growing up in a poor, third-world country. So yes I am kind of biased about the possible benefits of learning to code.
Next Week, December 8 – 18, 2014, Sees “The Hour of Code” Initiative — Get Your Girls Going With Frozen’s Anna & Elsa On The Ice.
by Anura Guruge
Next week, December 8 to 11, is to 2014 “The Code Hour” week. Google, as I covered here, kicked us off with the compelling (and appealing to kids) “The Holidays are Made With Code” note.
Alton Central School (ACS), as they also did last year, is partaking in this year’s event, though (though most likely due to various policy issues) it is an optional, after-school activity rather than something that all the kids will do, for an hour, during normal school time. C’est la vie. As an ex-professional programmer for IBM (with a B. Sc. (Hons.) in Computer Technology from the University of Wales, 1974, & a M. Sc. (with Distinction) in Computer Science from the University of London, 1979) I am all gung-ho about any and all initiatives that will get kids INTO programming. Programming is a very satisfying and lucrative field. It was my programming skills that gave me a start in my professional life. I sometimes wish I had been content just to be a programmer and done my 30 years at IBM just as progressively more senior programmer and then retired. I would definitely would have been better off financially though would not have been anything close to eventful and exciting as it had been. I wish I had kept up with my programming. I taught programming, at postgraduate level at Southern New Hampshire University (SNHU), ten years ago. I taught myself Python a couple of years prior to that — and given my years of FORTRAN VI, COBOL, PL/I, PL/S, POP 2, BASIC and BAL that was a piece of cake. I regret that I never made time to learn any C (of any type) or Java. Actually a few weeks ago I spent a few minutes looking at whether I should learn C++ or C#. Not sure I can justify the time commitment. Be much better if MY kids learned to code. My son did do Python at Wheaton though he hasn’t pursued it further as yet.
I showed Teischan, 8, the Google ‘Christmas lights’ last week. Much to my delight she liked it and created quite a fancy tree. That was encouraging.
I made sure both kids are signed up, at ACS, for the Hour.
Earlier this evening I went looking around seeing what they had that kids could do on the Web prior to their instructions at school. I was overjoyed to see the Frozen Elsa project. Called Teischan over. They had a video. We watched it. It showed you what you could do. She was interested. I set her up, even registered her, on her Toshiba laptop. I told her she could take the laptop to bed and do a few programs. The last I saw she was already on #3. Cracked me up. When I was growing up we didn’t have laptops let alone PCs. But in the early 1970s I started keeping a notepad a pencil by my bed so that I could write code, that came to me via inspiration, when I was in bed — and in those I was noted for spending a lot of time in bed, though only a small part of that was for sleep.
I am GLAD that they did Frozen. That was inspired. Frozen definitely is THE flavor the year of 2014 — at least among girls. Just they have Angry Birds etc. So boys do have an equivalent though it would have been real neat if they had done Disney’s “Planes“.