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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (36564)	2/5/2011 5:47:34 AM
From: Crossy	Read Replies (1) \| Respond to of 37387

Paul, you quoted the figures from LCM, yet another fund and not from AGC. AGC in 2010 had 35% "return of capital" guggenheimfunds.com - however for leveraged funds this figure is skewed - as they employ a feature called "capital loss carryforwards" which works similar to NOLs. I concluded that the return of capital DID INCLUDE this NOL like feature, otherwise one coudn't reconcile this with the fact that they did gain NAV almost 8% of NAV over the past year. This is a plot on their NAV value of AGC for "pseudo ticker" XAGCX (one can produce such a chart with any traded CEV on the market) finance.yahoo.com Here is some kind of description on the issue seekingalpha.com Here the issue is touched by Cohen & Steers houlihanrovers.com For FFC the "return of capital" number was merely 1.3% and for FLC it was zero guggenheimfunds.com guggenheimfunds.com However, I am holding both kinds (convertibles and preferred CEVs) for different reeasons. Convertibles mostly for capital gains, preferreds mainly for income. take care CROSSY

To: Paul Senior who wrote (36564)	7/19/2011 6:30:57 PM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: FFC / FLC (Flaherty & Crumrine/Guggenheim leveraged preferred funds) Well these nice "beasts" just increased their monthly dividend payout again. Oddly enough, the quasi-fixed income part of my folio this year so far has delivered most of my gains - despite the manic/depressive equities market. I certainly can't complain, though ! FFC and FLC Announce Increased Regular Monthly Dividends finance.yahoo.com PASADENA, Calif. & LISLE, Ill.--(BUSINESS WIRE)-- The Boards of Directors of Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated (NYSE:FFC - News) and Flaherty & Crumrine/Claymore Total Return Fund Incorporated (NYSE:FLC - News) today approved new regular monthly dividend amounts to be paid in August. The new regular monthly dividend rate for FFC will be $0.136 per share, which equates to an annual dividend of $1.632 per share. This new monthly dividend represents an increase of approximately 4.6% over the prior monthly dividend. The new regular monthly dividend rate for FLC will be $0.1395 per share, which equates to an annual dividend of $1.674 per share. This new monthly dividend represents an increase of approximately 3.3% over the prior monthly dividend. The August monthly dividend will be paid on August 31, 2011. Record and expected ex-dividend dates will be announced early next month. Donald F. Crumrine, Chairman of the Boards of the funds, said “We are very pleased that both funds continue to deliver on their objectives of high current income. The continued recovery of the funds’ net asset values allowed them to increase their borrowings throughout the first half of the fiscal year. Earnings from that additional borrowing, together with very low borrowing costs, allows the funds to earn additional income that can be distributed to shareholders.” FFC and FLC were organized in 2003 as closed-end, diversified investment companies. FFC invests primarily in preferred securities with an investment objective of high current income consistent with preservation of capital. FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation. FFC and FLC are managed by Flaherty & Crumrine Incorporated, an independent investment adviser which was founded in 1983 to specialize in the management of portfolios of preferred and related securities. Flaherty & Crumrine also manages two other U.S. closed-end funds: Flaherty & Crumrine Preferred Income Fund (NYSE:PFD - News); and Flaherty & Crumrine Preferred Income Opportunity Fund (NYSE:PFO - News). Website: www.fcclaymore.com Contact: Press and Analyst Inquiries: Flaherty & Crumrine Incorporated Donald F. Crumrine, 626-795-7300 Pasadena, California crumrine@pfdincome.com or Shareholder Inquiries: Guggenheim Funds Distributors, Inc.William Korver, 630-505-3700 Lisle, Illinois William.Korver@guggenheimfunds.com