Tag Archives: dividend

Only The Sept. 13, 2018, $0.53 Dividend Keeping Garmin Stock Getting Walloped By ECG Apple Watch 4.

by Anura Guruge


Click images to ENLARGE.

Both from MarketWatch, of course.



Fitbit took a 6% hit when the Apple Watch 4 — with its AMAZING, game changing ECG feature — was announced, and Garmin stayed flat (if not gained a fraction).

What gives.

Aaahhhh! THE magic dividend. Apple, with its timing, did Garmin a huge favor.

Nobody was going to dump GRMN on when there was a 53 cent dividend baked into the price. But, that will change post September 13, 2018 — the ex-dividend date. The price will drop.

Garmin is NOT as much of a direct competitor as Fitbit, but the new Apple Watch makes Garmin’s high-end Fenix 5 and Fenix 5 Plus look pedestrian and lackluster.

Interesting times. Yes, I own GRMN — but I also own AAPL. {Smile}. I owned AAPL from 2007 to 2017 and then sold most of it since I had enough. {Smile}


Related posts:
Search ‘Garmin’.


by Anura Guruge

Warren Buffett Follows My Lead On SYF, i.e., ‘Synchrony Financial’ — 4 Months Later.

by Anura Guruge


My original post on SYF —
April 10, 2017.


August 14, 2017 news in ‘USA Today’ etc. Google for more.


What can I say. In my old age I have finally worked out this ‘thing’ called ‘investing‘. {SMILE}

Synchrony Financial’, SYF, was pretty obvious. It took a bit of a hit after its last results BUT that gave you a great chance to make some decent money on options.

SYF, as Buffett’s move testifies, is rather attractive right now. There is also the rather handy $0.15 dividend.

So, just take notice. {Smile}


Related Posts:
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Search on ‘Amazon& ‘IBM’ for other related posts >>>>


by Anura Guruge

I Suffer My Uncontrollable Infatuation With BJBHX As It Like ALL Bond Funds Take A Thrashing.

Dec2013x125

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by
Anura Guruge


Related posts:
1/ Uncontrollable Infatuation With BJBHX — Mar. 9, 2013.
2/
Artio Global High Income Mutual Fund (BJBHX):
>>
I Bailed With Regret — Jan. 3, 2013.


Of course I knew it was coming, though despite what the market and my portfolio is telling me, I KNOW that it hasn’t come yet! C’est la vie. The market, by definition, is always right even when it is dead wrong (as it is now). Yes, of course, interests rates will go up. That is a given. But, the current beating that bond funds are taking is too premature. But, that is OK. I always knew, going in, that this period of pain will come. So I am kind of sanguine. I have weathered worse — though I know that I am in for at least another month of pain.


bondfundsJune42013II


bondfundsJune42013I


I am going to stand firm with BJBHX and see how they navigate through this. Their monthly yield, so far, has remained ‘good’. This is why we pay them the BIG bucks. They knew, just like I did, that this day would come. Over the years, and by that I mean since the 2007 meltdown, I have also flirted with Janus’ JAHYX. While JAHYX is not as fecund as BJBHX, it, this always the other side of this risk/reward coin, is more resilient — until now. JAHYX is taking an even bigger beating that BJBHX. That could be good for BJBHX.


Click to ENLARGE. From MarketWatch. JAHYX in red. BJBHX in green. Also note that SOME of that very steep drop in BJBHX represented ex-dividend.

Click to ENLARGE. From MarketWatch. JAHYX in red. BJBHX in green. Also note that SOME of that very steep drop in BJBHX represented ex-dividend.

Again from MarketWatch. A 1 year look. BJBHX vs. JAHYX.

Again from MarketWatch. A 1 year look. BJBHX vs. JAHYX.


In my old age I do not panic as much as I used to when it comes to investing. This was a storm I knew was coming. So I am going to weather it out — hopefully BJBHX will not totally sink me.

My On-and-Off, Uncontrollable Infatuation With Artio Global High Income Fund (BJBHX) Is On Again.

Dec2013x125

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by
Anura Guruge


Related post:
>> Artio Global High Income Mutual Fund (BJBHX):
>>
I Bailed With Regret — Jan. 3, 2013.


Artio Global High Income (BJBHX) vs. TCW Emerging Markets Income (TGINX).

Artio Global High Income (BJBHX) vs. TCW Emerging Markets Income (TGINX).


Yes, people come here looking for information of BJBHX since my earlier post.
Hence this post in the interest of full disclosure.


This, I am sorry to say, is like one of those bad fatal-attraction stories.

I keep on going back to BJBHX. But, to be fair, it has been good to me, very good to me, at times. It kept us afloat, albeit just, during the latter part of the ‘financial crisis’.

I bailed out in January, with regret (as I clearly said in the title of my post), because I was ‘mad’ — and I know that I am by now old and experienced enough to finally realize that you don’t make investment decisions based on emotion. But, I did. I felt that they let me down. After I had placed the sell order, a representative from BJBHX did call me to explain why they missed their December dividend — that I was banking on (to subsidize Christmas).

To be fair their dividend rate has gone down. It is now a full ‘0.1’ lower than it was in 2012, and while ‘0.1’ seems trivial on paper, it is huge in the word of income investing.

Now this was not the first time BJBHX and I have parted company. I have kissed it goodbye a couple of times over the years. Invariably I take succor in TGINX when I part company with BJBHX, because it too is a good income generator. However, I guess the emerging market bond bubble mus have popped or the fund manager at TGINX is still on vacation after Christmas. It did very poorly in the last 2 months. I have no patience with funds that don’t live up to my expectations of them. Sod, Fidelity’s 6-month hold period. I gladly pay the $75 penalty and get the hell out. TGINX is more temperamental than BJBHX. It is history and I don’t have any real attraction to it. Doubt whether I will ever go back to it.

BJBHX has a ‘high-frequency trading’ restriction. If you bail out you have to wait 30 or 45 days before you can get back in. I actually applaud that rule. I did get an early morning call from Fidelity once, while I was still in bed. Artio had called them up and complained that I was trying to get back in within 12 days. Though they called up and complained and told Fidelity to tell me not to do it again, they accepted my order! That was funny.

This time, I was good. I waited a full 60 days. But, I only invested half as much as I had with them before. So lets see. I found another fund. The dividend income is a tad lower, but it performs quite well. And then I have a Janus account that is the ‘slow-and-steady’ tortoise that ‘doesn’t fluctuate much’. So that absorbs some of the market volatility.

Yes, people come here looking for information of BJBHX.

Artio Global High Income Mutual Fund (BJBHX): I Bailed With Regret.

Anura Guruge, laughing, picture November 16, 2011.

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..by Anura Guruge


Last investment related post:
>> The 2012 Special Dividends: Selling Short … — Dec. 3, 2012.


I got back in in March 2013 and have stuck with
it through thick and thin.

See posts one & two.


Artio


Artio Global High Income Fund (BJBHX) is what has kept me afloat, with my head just above water, for the last 3.5 years. I adored it, sang its praises and recommended it, all the time. It WAS a great fund. Of non-institutional mutual funds (not counting the semi-cannibalistic closed end funds (CEFs) that distribute some of their capital as distributions) it had the highest monthly dividend I could find (relative to NAV), with a 0.02 variation between months. There were also period of genuine growth.

60% of my meager, severely depleted savings were in BJBHX and until last Friday (December 28, 2012), I never gave it much though. BJBHX had been ‘a keeper’. Come December I start scouring the Artio Website for their year end distributions. Yes, I found this year’s, and as ever it was a range. The minimum was 0.03 per share. Last week I called them twice trying to see if they can get me a better idea. They wouldn’t.

They paid the December 2012 dividend on the night of December 27. It was 0.03! For 12 hours I consoled myself thinking that this was just a special year end distribution and that they would do their normal monthly distribution on December 28, the 28th their usual target date for distributions. I was wrong. 0.03 was it for December.

The November distribution had been 0.07. ‘Marketwatch‘ had 0.07 as their ‘Income Dividend’. They had never been below 0.05 in all of 2012. They had never done just a 0.03 in years.

I felt raped. If they had given us a head’s up, I would not have felt so bad. I called them twice last Friday. Their telephone support isn’t in the same class as Fidelity.

I called them again yesterday and asked whether I could speak directly to a Fund representative. To their credit they said they would try and that they will try and get somebody to call me.

But, prior to the 4pm market close, I placed an order to sell all my shares in BJBHX.

The phone rang at 4:20. It was somebody from BJBHX. He was very nice. He understood my issue. It appears that due to foreign currency fluctuations BJBHX had a trading loss for the year. So rather than distributing capital gains, they had loses. The 0.03 was a reflection of that. He claimed that dividend would go back to ‘normal’ in 2013. To late. I had already sold and BJBHX has a very strict re-investment policy to protect holders against churn. So if you sell, you typically can’t get back for 30 days. It is in the prospectus. But, emotionally I am done with BJBHX, though I know that you can’t let emotions influence your investing.

I could be wrong, but as far as I can see, I cannot find another non-instutional, non 5% up-front load, ‘open’ (as opposed to ‘closed’) mutual offering monthly distributions of 0.07 per share on a $10 NAV — and I check each month on Yahoo finance, because the ‘summary’ rate quoted on sites like ‘Marketwatch‘ can be way out-of-date.

The nearest I can find is Janus High Yield, JAHYX. JAHYX is my backup. They maintain a fairly steady NAV. FHYTX and TGINX are close.

I don’t trust CEFs. Too many games for non-insiders, so to speak. So I stay away. Yes, I get tempted, but I refrain. I have good will power. Looking at some MoPay stocks. Interesting. But, bottom line, BJBHX and I have parted company.

The 2012 Special Dividends: Selling Short Will Not Buy You Anything.

Anura Guruge, laughing, picture November 16, 2011.

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by Anura Guruge


Related posts:
>> AOL Share Price Being Erroneously Quoted On Ex-Dividend Day — Dec. 3, 2012.
>>
Special Dividend Extravaganza This Coming Week — Dec. 1, 2012.


Click to read the article.

Click to read the article.

So, AOL today provided an object lesson in what happens to a stock’s share price on the ex-dividend day. To be honest, I wasn’t sure what would happen in the case of special dividends, as opposed to regular dividends. Well it appears that the stock price WILL go down with special dividends too.

So that begs the question: how can you exploit that drop? An obvious answer would be to sell the stock short ahead of the ex-div and then settle up the ‘short’ after the dividend is paid. Yes, it sounds too good to be true — and it is exactly that. I called up Fidelity and asked. I was amused that the initial rep. that I spoke to was not sure of the answer. He had to check with the ‘back room’. The answer is that it does not work. Yes, the principles of selling short will apply. Yes, you can settle the ‘short’ at the ex-div price, BUT here is the catch. You OWE the dividend to the ‘firm’, because you were just borrowing the stock. So, the ‘short’ based purely on the price drop due to the dividend will not work. Just wanted to share that with you, in case you too were thinking of it.

AOL Share Price Being Erroneously Quoted On Ex-Dividend Day Ahead Of The Special Dividend.

Anura Guruge, laughing, picture November 16, 2011.

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by Anura Guruge


Related post:
>> Special Dividend Extravaganza This Coming Week — Dec. 1, 2012.


 

I captured this from 'Marketwatch' a few minutes ago. Check out the highlighted fields.

I captured this from ‘Marketwatch’ a few minutes ago. Check out the highlighted fields.

So having compiled the special dividend chart last Friday I was acutely aware that today was the ex-dividend date for AOL. My son had also called up with an alternate approach that he is considering in terms of how to play these special dividends.

So, I happened to check the AOL quote to see how it was fairing. I saw the red arrow and the 13% down. But, that didn’t seem right judging from the graph to the right! That shows fluctuations in today’s price with the GRAY bar indicating the ‘open price’; i.e., $32.48. AOL had actually gone up.

I made a few phone calls. It appears that the stock quoting systems are getting their knickers in a twist because of the pending special dividend.

So this is just a head’s up. Check all quotes you see over the next couple of weeks.

P.S., the quote for SEM is also wrong!