Tag Archive | NAV

Oh How I Wish Janet Yellen Was On A Testosterone Boosting Regime.

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.Anura Guruge December 2014 thumbnail

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by Anura Guruge


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Don’t get me wrong, I like Janet Yellen and was totally supportive of her replacing Dear Ben as the Federal Reserve Chairperson. What is there not to like about her?

BUT after yesterday’s momentous decision by the Fed’s NOT to raise the Fed Interest Rate I just wish she had more testosterone in her system. What we saw yesterday is the, rightly, much vaunted trait of females not to be as aggressive, confrontational and ‘in your face’. BUT in this case that is really what we needed. We needed Janet to be a Margaret Thatcher or my Aunty Bandaranaike — strong female leaders that were willing to make hard decisions.

We need to get this interest rate fiasco out of the way!

To be honest it bothers me NOWT! As somebody with an incurable addiction to option trading I LOVE the market volatility. Large market swings make me smile all day — not that I am not smiling most of the time anyway. I just feel bad for those that just ride the market and watch helpless when their IRA goes down. I just heard on CNBC this morning, bamboo stake up his derrière, “I tell God what to think every morning”, Ken ‘pompous’ Langone, bemoan how the ‘zero’ interest rates are crippling retirees on a ‘fixed income’. I had to laugh. Typical of bloody Langone. Clueless. I am retired BUT I wish my income was ‘fixed’. SMILE. Never understood that expression. “Fixed Income”. If you are salaried aren’t you also on a ‘fixed income’? Well, what can I say?

This interest rate ‘fear’ is such a joke. 0.25% or even 1% Fed interest rates are NOT going to kill anyone. They will, as CNBC correctly points out, NORMALIZE matters — and the markets — and GET one unnecessary Ken Langone like gorilla ‘out of the room’.

So PLEASE Janet go get some shots. Lets raise this damn rate SOON — definitely before Christmas. PLEASE let us NOT go into 2016 with this hanging over the market.

I just do NOT know whether I could tolerate that much FUN!

Janet, I am sure your Health Insurance will cover the costs of the shots. If NOT I will, on behalf of the entire World, gladly pay for them.


Aberdeen (Artio) Global High Income Fund, BJBHX — ONLY For Those Hell Bent On Losing Money.


.Anura Guruge December 2014 thumbnail

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by Anura Guruge


Related posts:
0/ Final goodbye to BJBHX.
1/
BJBHX $0.26 cap gains for 2014.
2/
BJBHX stopped hemorrhaging for a day.
3/
BJBHX depressing news.
4/
BJBHX: sticking it out till 2015.
5/
BJBHX has decent December 2013.
6/ 
Uncontrollable Infatuation With BJBHX.
7/
BJBHX: I Bailed With Regret.

++++ Search ‘BJBHX‘ for other related posts >>>>


BJBHX chart from MarketWatch.

bjbhxsept1


I feel bad, real bad, for those that are still in BJBHX. With interest rates set to go up and the stock market taking a beating there is only one way that the BJBHX NAV was going to go and that was NOT upwards. BJBHX kept me afloat during the worst of the 2008 – 2012 financial crisis. I do not know what I would have done if not for BJBHX. But that was then, and this is now. I always knew that 2015, with interest rates bound to go up, was going to be painful for BJBHX. That said I hung on to it, albeit with a reduced holding, until May 2015. I then bailed and I am so glad I did. I invested all of my BJBHX holdings in AMZN and have been writing options against the stock. SMILE. Sure beats BJBHX.

I did tell you to bail, with me, in May. The NAV was $9.77 then. It is $9.17 today. A 6% drop in 6 months. That can be painful.

From what I can see the only rationale for staying with BJBHX is IF you have need to lose some serious money. Well, some people do — to offset huge Capital Gains or reduce their nett worth. BJBHX is the perfect instrument, these days, to achieve that. It will help you lose money with style. IF you are not that keen about losing money then BJBHX is NO LONGER for you. Their run, and it was good in the glory days when junk bonds were king, is now over. So I am just trying to help you. OK?

Best of luck. Fingers crossed for Thursday. I actually want the Feds to raise the damn interest rates. Lets move on. Get it out of the way. This slow drip-drip wait is a waste of time. Yes, a volatile market is fun but it is also nice to see the market chugging upwards.


NOIEX, ‘Northern Income Equity Fund’: May 2015 0.045399 Dividend Is Largest Non-December Distribution Since August 2014.

.Anura Guruge December 2014 thumbnail
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by Anura Guruge


Related posts:
1/
NOIEX: Income is an oxymoron.
2/
NOIEX: light on income.
3/
Puny Jan. 2015 distribution.
4/
NOIEX: flat after Dec. distribution.

5/ NOIEX: Huge 2014 distribution.

a/ Sticking with BJBHX till 2015.

++++ Search ‘BJBHX’, ‘IPO’, ‘stock’ etc. for other related posts >>>>


noiexmay2015sasdad

Click to ENLARGE and read.


noiexmayhistirsaas

Click to ENLARGE and read. From Yahoo Finance. NOIEX distributions over the last ‘2 years’.


May’s 0.045399 was ‘about time’. NOIEX since its HUGE December 2014 distribution had been very light on the dividends. That the May dividend was 10 x that of April was telling.

But I am no longer convinced. I think NOIEX is struggling and that I have had it with it. I had meant to dump it BEFORE the May distributions. But with the book, the Jag and the trip to Arizona life has been a bit hectic — and as such, inexcusably, I have not spend as much time as I should working on my investments. Well, I will have to put that right.

So, this is just another heads up on NOIEX.


Finally A Final ‘Bye Bye Blackbird’ Adieu To Aberdeen (Artio) Global High Income Fund, BJBHX.

.Anura Guruge December 2014 thumbnail
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by Anura Guruge


Related posts:
1/ BJBHX $0.26 cap gains for 2014.
2/
BJBHX stopped hemorrhaging for a day.
3/
BJBHX depressing news.
4/
BJBHX: sticking it out till 2015.
5/
BJBHX has decent December 2013.
6/ 
Uncontrollable Infatuation With BJBHX.
7/
BJBHX: I Bailed With Regret.

++++ Search ‘BJBHX‘ for other related posts >>>>


bybebyebjbhx

Click to ENLARGE. Underlying chart and data from, of course, MarketWatch.com.


Well it had been on the cards for months. BJBHX was going nowhere, but down. Interest rates are due to rise and according to all junk bonds were due to take another hammering as that happened. The dividends, always BJBHX’s one redeeming trait, were also beginning to dry up. I could NOT take it anymore. I will be the first to admit that BJBHX helped — nay, enabled — me to weather the 2008ish financial crisis. BJBHX did good, very good, in those dark and uncertain times.

But things have changed and with that BJBHX’s value-proposition. I started to wind-down my position about 7 weeks ago. I did not want to pull-out, overnight, cold turkey. Why? I did not want to hurt my fellow shareholders! Yes, I am strange. I have never denied it. I am what you might call an altruistic investor. I do not like to hurt others. Yes, I know. Crazy. But then again I am also not greedy. To also be fair, most of the time I do not have anything to worry about since the most I usually have to invest is around $2 (as you might know from my posts). But in the case of BJBHX I had a few shekels in the pot. If I had withdrawn it all, one night, as I was certainly entitled to do, since I have held these shares for years, it could have hurt the NAV. So I opted to withdraw in batches to limit the outflow. I finally made my last withdrawal as soon as we got back from Arizona. I am GLAD I did.

I am using the proceeds from BJBHX to play options. Yes, the ability to write more options was another reason I wanted out of BJBHX. I think I have a problem. I am addicted to writing options! As far as addictions go this is not too bad or painful. I only do out-of-the-money options using good underlying stock. It is fun. It is white-collar gambling. But with the options I stand a chance to make some money, and that had ceased to be the case with Aberdeen (Artio) Global High Income Fund. So bye, bye blackbird. IF I never own another Artio product, that might prove to be too soon. Coincidentally, or otherwise, that is when the rot set in, when Artio acquired Aberdeen,

I also, a few weeks earlier, be it, also got rid of all my shares in YACKX, Yacktman Fund. I had been a (secret) YACKX holder for a longtime. 7+ years I think. It was the fund I never talked about. I had found it after years of diligent research and I didn’t want it spoiled. It (again prior to an acquisition) used to be a little champ. Delivered on its promise and dolled out some healthy dividends. It too has since lost its way. I didn’t, in reality, have much invested in it and as such it was no big deal closing it out, overnight. I did that about 6 weeks ahead of BJBHX. So that is bye, bye to two mutual funds. I now have just three more, one of them NOIEX, ‘Northern Income Equity Fund’, that no longer generates income! I have sold some NOIEX shares in 2015 and I am pretty sure that NOIEX will cease despoiling my portfolio within the next few weeks. I think my patience has finally started to run out. That will leave me with just two funds, one that I just acquired at the end of 2014. It hasn’t done much but it shows promise. The other I had had for a ‘long’ time. Maybe 4+ years. It delivers on what it says in its prospectus.


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AMG Yacktman Fund, YACKX, data from MarketWatch.com. Click to ENLARGE and look.


NOIEX, ‘Northern Income Equity Fund’: The ‘Income’ Part Is Becoming An Oxymoron.

.Anura Guruge December 2014 thumbnail
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by Anura Guruge


Related posts:tiny
1/
NOIEX: light on income.
2/
Puny Jan. 2015 distribution.
3/
NOIEX: flat after Dec. distribution.

4/
NOIEX: post huge distribution.
5/ NOIEX: Huge 2014 distribution.

a/ Sticking with BJBHX till 2015.

++++ Search ‘BJBHX’, ‘IPO’, ‘stock’ etc. for other related posts >>>>


Click to ENLARGE.

Following all of my coverage of NOIEX in December 2014, when we had that unprecedented and uncalled for $3.987 dividend, this blog has become a regular destination for those seeking genuine incisive information on this now moribund fund. So this is another post to keep you posted.

The April 2015 distribution, at $0.00446 per share, was, yet again, on the low side. 64% below the April 2014 distribution.

To help us all out I created this comparison chart. It, as you can see, is not that conclusive. I, however, continue to feel that NOIEX, post-December 2014, seems to be skimping on the dividends. For a fund that has ‘income’ in its name this seems incongruous.

But, to be fair, its overall performance is still fair. Not stellar, but it is hanging in there. Check out this from MarketWatch. The December ex-DIV NAV was $12.57. It has been up as much as $13.09. YOU definitely should keep a close eye on it. NOIEX is no longer a fund that you could buy and forget about — in the belief that it will quietly keep on doing what it should, i.e., doing reasonably well and generating some income. It definitely appears to have lost some steam if not its way. I am not ready to ditch it yet. It has served me well for a number of years. But, I check its performance rather carefully of late. OK? Hope this helped. If nothing else you won’t find this dividend comparison chart, in this easy to follow format, anywhere else. Enjoy.

Click to ENLARGE and read. From marketwatch.com.


BJBHX, Aberdeen (Artio) Global High Income Fund: A Very Depressing Update On A Depressed Fund.


Anura Guruge, June 8, 2013.
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by Anura Guruge


Related posts:
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.

++++ Search ‘BJBHX‘ for other related posts >>>>


bjbhxhhha


BJBHX and, as I have mentioned before,
go back a ‘long’ time
— which I think is getting close to 6 years by now.

bjbhxskijump

BJBHX — the last bloody month.

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.

Anura Guruge, June 8, 2013.

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by Anura Guruge


Related posts:
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 >>>>


hofccongblog12

Click to access original from “The Hill”.


minnhocode41

Click to access original from “Star Tribune”.


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Click to access CNet original.


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.

javascriptex

Click to ENLARGE. A little snippet of JavaScript. This could have got 8th graders slightly more engaged.

The fourth reason was the one that I was concerned about. The ‘blocky’-based drag-and-drop ‘programs’ really might have been too simplistic for 8th graders. Obama, as can be seen above, did a bit of good ol’ JavaScript. I think the 8th graders should have been given the chance to learn some procedural code.

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.


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