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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (50025)	11/14/2012 1:20:46 AM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78704

I read through GST conf call notes and added some GST-A today too. Might add more if it continues to drop. KTP and PFH sound interesting too. Keep us posted. :)

To: E_K_S who wrote (50025)	11/28/2012 5:14:37 PM
From: geoffrey Wren	2 Recommendations Respond to of 78704

PFH looks good. I took a position after looking into it. As one response indicated, it is not a preferred stock, although much like one. It is a trust holding debentures. If as the response suggested was possible, the trustees would have to liquidate in case of a bankruptcy, that could cause a problem if the liquidation occurred at the time of maximum panic. I'd like to know the answer to that. I doubt JC Penny would do a straight bankruptcy, but it could easily do a reorganization. For now, PFH seems solid enough on an asset basis. But if it bumps up to $23, I'd take profits on it. DDT is a similar security to PFH. Underlying company there is Dillard's, and the debt is due in 2037 or something like that. That stock traded down to $5 or so in the meltdown, but now is trading at par and pays about 7%. GST-A: I got some, unfortunately. It seems asset rich, but with less time until they run out of cash. They have a lawsuit from Chesapeake to deal with. They claim to expect the lawsuit to be tossed out, but you never know. It seems management is more apt to stop the preferred dividend and tough it out than to sell any of its crown jewels. I would not rate this a buy. GST itself might be a speculative buy if it gets beat down some more, say to 50 cents. GKK-A is a REIT preferred that has not paid a dividend in a long time. But the assets are more than enough to protect it. Trades around $28 or so. I would not recommend it because management is bad and untrustworthy. RPT-D is perhaps not fully appreciated. First time I held the stock I sold off when it came close to par. But factoring in that it is convertible and non-callable, it is a buy even at these prices I'd say. You get a decent income and you are not exposed to the risk of high inflation so much as with a regular preferred, since high inflation should benefit RPT, and RPT-D can be exchanged for RPT. RAS-C is paying around 9% now. I have a position in it.

To: E_K_S who wrote (50025)	2/28/2013 3:13:14 PM
From: E_K_S	1 Recommendation Read Replies (2) \| Respond to of 78704

Gastar Exploration 8.625% Serie (AMEX: GST-PA) - Peeled off shares a@ $19.00/share Gardner Denver Inc. (GDI) -NYSE - Closed my small starter position for quick 4% profit DCP Midstream Partners LP (NYSE: DPM) El Paso Pipeline Partners, L.P. (NYSE: EPB) Both DPM and EPB have filed SEC information that they plan to off secondary units. I am building up reserves so I can buy both to add to my earlier buys in 2010. These two MLP's have some of the best NG gathering and/or pipeline LNG assets. EPB also has interests in a LNG terminal on/near the Gulf Coast. El Paso Pipeline files to sell $500M equity shelf Could be as much as 12M units. DCP Midstream Partners Announces Public Offering of Common Units They plan on 10.25M units My plan is to build my NG gathering, distribution, processing and LNG service MLP exposure. GSTpA is my No. 3 position that I need to trim w/ the proceeds going into this sector. EKS