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

To: inspbudget who wrote (56342)	12/7/2015 11:28:23 AM
From: robert b furman	Respond to of 78747

Good analyst on Bloomberg this morning said midstream stocks are definitely being thrown out with the water. Tax loss selling creating a "buy" opportunity. KMI Blood in the streets - reminds me of semi selloff in 2000. Bob

To: inspbudget who wrote (56342)	12/7/2015 11:49:10 AM
From: E_K_S	Read Replies (1) \| Respond to of 78747

capitulation? Picked up another small chunk of KMIpA @ $33.37/share. Based on their mandatory conversion (in 36 months) you get 1.81 KMI common shares for each KMIpA share. That's $18.44/share and you get your guaranteed dividends for next 36 months. Also followed Spekulatius into another buy of Spectra Energy Corp. (SE) @ $ 22.67/share. Probably one of the less leverage pipeline companies but still getting sold (new 52wk low). The 6.5% div yield s/d be sustainable but hard to tell as the whole sector getting hammered. ----------------------------------------------- I also added to my AG REIT American Farmland Company (AFCO) Friday at $7.08/share. I like the sector and am buying 15% below the original IPO price. Position is small. The land values must be adjusted to reflect how expensive it is to get both pistachios & walnut orchards into production. One Ag farmer told me that it is as much as $30K per acre (in direct expenses and opportunity costs) to plant a crop of Hazelnuts and wait the three years before production starts. Trees will produce for 25 years. AFCO owns a few orchards that are producing nuts. They also have other raw acreage under development that will be another 36 months before they can harvest. Both Farmland Partners Inc. (FPI) & AFCO have their land leases at fixed annual rates plus a kicker based on % of revenues from production yields. It will be interesting to see how their revenues look after one annual crop rotation both for (specialty & row crops). The 2016 estimates for row crops (corn & soybeans) will be quite low as these commodity prices or at multi year lows. I am hoping that the annual nut crop revenues will help increase total revenues. ------------------------------------------------------- The value proposition for all of these companies are impacted by many external variables, so it's hard to know if/when one is making a good Buy. It seems like that only months/years after the fact you really know. EKS