Continued insider buying in FSP.
The insiders here just keep coming back and buying more.
That ,combined with the 6% yield and no debt gives me confidence. (Plus, I dont have the risk tolerence that I used to when I had other income coming in. I dont spend stock market gains,but sadly, lots of them are sitting in a relatively low rate money market account because Im not finding the kind of stocks I have historically liked.)
(Microcaps Below book, low PE, Insider buying, Low price/sales, Low price/edbitda,and/or hidden assets)
Oh and Oppenheimer has a BUY & a $24 target on FSP although I have not had any luck getting a detailed copy of the report.
I still think SPOR has speculative appeal if you can get past the low insider ownership and the stench that has long come from inside. They've got lots of cash and even gave some back to shareholders last year.
The stock is a buyout waiting to happen. Either that or a shareholder lawsuit against the current board for breach of fidicuiary duty...REPEATEDLY.
Im on the lookout for closed end funds trading at an abnormal discount this month.
Id appreciate some ideas.
Most of the CEFs with large discounts have very large yearly fees.. and to me, that negates the value of buying at a discount.
I have a handful of higher yielding CEFs that I bought 6-15 months ago and each has performed well. Several have had their discounts narrow considerably. One, is now at a PREMIUM because of its large monthly distribution. A couple of others...their discounts have NOT narrowed but their NAVs have increased just the same so Im glad I bought them.
Since I am new to closed end funds as well as income investing, I chaulk up my early luck to the fed rather than any particular brilliance on my part.
(All I know is I was looking at a lot of cash earning very low income and i needed to attempt something to seek more yield.) Got that and capital gains to boot.
But, like I said, since my CEFs are interest-rate sensitive, I attribute my gains to the luck of the draw.
I have more cash sitting idle but not convinced to buy more right now.
Ive had a lot of my former ideas get bought out at nice premiums in the last year or so (PURW,MAIN,EDIN,ONSS)
Not finding the kind of ideas i used to to reinvest the proceeds.
It seems Insiders, REAL insiders, are not buyers nowadays. Deduct the "outside" insiders which are often hedge-funds with large positions and the lack of real insider buying bothers me.
Granted, I weigh that more heavily than others but have found its important with microcaps.
WEX might be worth a look. Low PE just over book and Ive bought & sold it profitibly multiple times which always adds a little value in my mind !
Oh, my ROW is apparently trading again. So its not a total loss...yet. |
