On the evening of September 15th, Cohen & Steers announced adopting a level rate distribution policy, and declared third quarter distributions for its affected Closed-End Funds.
Strategies
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On the evening September 13, SunAmerica Focused Alpha Growth Fund (FGF) and SunAmerica Focused Alpha Large-Cap Fund (FGI) each announced the intention to conduct tender offers. In reaction to the news, FGF’s market price rose 2.5% from the prior day close of $14.82 to $15.20 on Tuesday, September 15, 2010. FGI’s rose 0.5% from $13.92 to $13.99. The Dow and S&P declined slightly on the day.
I recently shorted Morgan Stanley China A Share Fund (CAF) which trades near parity with its Net Asset Value (“NAV”). CAF issued transferable rights to its stockholders of record August 18th, which enable the issuance of 5,440,904 at a price as low as 90% of NAV.
Richard Moore added quite a few new positions to his Market Comparables model this week. In the model, Moore uses financial models that have been greatly refined to screen companies by their price movement and valuations. He then looks into the individual company financials and looks for hidden value within […]
In his Rebound MF model, Gerry Wollert uses technical analysis and a momentum model to choose ETFs. The model is meant to hold a total of seven ETFs when it’s fully invested and he focuses on large cap, high volume ETFs. This week, Wollert added Market Vectors Agribusiness ETF (MOO), […]
model, Michael Arold surveys market movement and technical indicators while taking advantage of short-term price swings and positions that have been over
The month of August has been a challenge for the economy, the financial markets and for my own portfolio. While not yet committed to calling a 'double dip' in the economy, clearly the pace of the rebound has diminished threatening an economic drop back into full-blown recession.
billion, up from $3.1 billion the previous year. In 2009 they also reduced their total liabilities to $468.8 billion from $482.7 billion the previous year.
The collection and analysis of the second quarter 2010 financial statements is largely complete now and a broad based acceleration in corporate wealth is clearer. The average annual sales growth rate of the GEARS total market index is now positive and, over the past year, staged the sharpest “V” shaped improvement in the data record. Even with that unprecedented reversal, the average sales growth rate has recovered only to the cycle trough level of 2002.
The South America model at Covestor returned positive results in August even though the S&P 500 finished in the red, as well as Latin America as indicated by the iShares Latin America 40 Index ETF (ILF). It was a mediocre month for Brazilian stocks – the largest Brazilian fund, iShares MSCI Brazil Index (EWZ), fell from $ 70.38 on July 30 to $67.75 on August 31 – but the Chilean and Peruvian equity in my portfolio performed well.
Another month, another failed rally. On the S&P 500, it is the fifth time since May this index has bounced off of the psychological “tax” or 1040 support line. A break below this may find the index down to 1000. Leadership did show up as cloud computing stocks...
The market experienced a fairly large pull back during the month of August and the portfolio did experience a decline but not nearly as much as the benchmarks, the S&P 500 and XLF, and slightly more than VNQ. Get your FREE weekly summary of Andy Schornack’s trades and performance here.