Q: Could you please advise on the status of this stock - is the dividend being paid - you would buy, sell or hold FTN?
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Investment Q&A
Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.
Q: Still going down but tempted to start a position. Your thoughts? THANKS
Q: What are your thoughts on taking a position in LFE at today's levels? What's the book value?
Q: Your thoughts on DFN.to would be most appreciated.
Q: This is following on my previous question, Here is the information regarding this new fund from Spartan.
I do value your opinion on this one and how it rates regarding risk factor. Thanks
LSQ – which has been quite successful in pursuing other market-neutral arbitrage opportunities – anticipates that its SPAC arbitrage strategy will achieve double-digit returns on a portfolio basis using modest leverage (3x) with a very low-to-negative correlation to other markets, and with low drawdowns. We intend to pause fundraising once the strategy reaches $100M.
SPACs and the SPAC Market
- For those unfamiliar with SPACs, they are publicly-traded shell corporations that raise capital with a view to acquiring an operating business. Once a SPAC is IPO’d in the public markets (at say $10/share), it typically has 18-24 months to find an acquisition (capital raised is held in short-term money market instruments until deployed).
- When the sponsors of a SPAC find an acquisition, the underlying investors can either (#1) vote against the transaction and redeem their shares at the SPAC’s original IPO price (in this case $10), or (#2) vote for the transaction and participate. In an increasing number of instances, SPACs are permitting investors to vote for the transaction and redeem their shares (again, at their original $10 IPO price, per our example).
- In addition, SPACs are usually issued with warrants entitling the holder to participate in the SPAC’s potentially-successful acquisition. These warrants can also have a tradable market value.
- While SPACs can vary greatly in terms of size, quality, experience of the underlying sponsor, etc., for a SPAC investor, the worst-case scenario is a guaranteed return of capital at the SPAC’s IPO price (again $10 per our example), plus the residual value of any warrants, while the best case is participating in a very successful transaction.
Since SPACs are plentiful (33 have been issued in 2018 so far), trade on the open market (usually Nasdaq), frequently at a premium or discount to their original IPO price, and have a known ‘worst-case scenario’ and ‘timing’ attributes, they present considerable investment opportunities for a hedge fund manager with a detailed knowledge of the sector.
Please see the attached materials for additional details.
Seed investors – i.e., the first $10M – are entitled to the 1.5% & 10% fee structure with the right of seed investors to double their investments at that same pricing level during the term of the fund. We are looking to launch early in Q1 – likely end of January 2019.
We are in the process of compiling our order book so please let me know if you are interested in having an intro call and potentially allocating.
I do value your opinion on this one and how it rates regarding risk factor. Thanks
LSQ – which has been quite successful in pursuing other market-neutral arbitrage opportunities – anticipates that its SPAC arbitrage strategy will achieve double-digit returns on a portfolio basis using modest leverage (3x) with a very low-to-negative correlation to other markets, and with low drawdowns. We intend to pause fundraising once the strategy reaches $100M.
SPACs and the SPAC Market
- For those unfamiliar with SPACs, they are publicly-traded shell corporations that raise capital with a view to acquiring an operating business. Once a SPAC is IPO’d in the public markets (at say $10/share), it typically has 18-24 months to find an acquisition (capital raised is held in short-term money market instruments until deployed).
- When the sponsors of a SPAC find an acquisition, the underlying investors can either (#1) vote against the transaction and redeem their shares at the SPAC’s original IPO price (in this case $10), or (#2) vote for the transaction and participate. In an increasing number of instances, SPACs are permitting investors to vote for the transaction and redeem their shares (again, at their original $10 IPO price, per our example).
- In addition, SPACs are usually issued with warrants entitling the holder to participate in the SPAC’s potentially-successful acquisition. These warrants can also have a tradable market value.
- While SPACs can vary greatly in terms of size, quality, experience of the underlying sponsor, etc., for a SPAC investor, the worst-case scenario is a guaranteed return of capital at the SPAC’s IPO price (again $10 per our example), plus the residual value of any warrants, while the best case is participating in a very successful transaction.
Since SPACs are plentiful (33 have been issued in 2018 so far), trade on the open market (usually Nasdaq), frequently at a premium or discount to their original IPO price, and have a known ‘worst-case scenario’ and ‘timing’ attributes, they present considerable investment opportunities for a hedge fund manager with a detailed knowledge of the sector.
Please see the attached materials for additional details.
Seed investors – i.e., the first $10M – are entitled to the 1.5% & 10% fee structure with the right of seed investors to double their investments at that same pricing level during the term of the fund. We are looking to launch early in Q1 – likely end of January 2019.
We are in the process of compiling our order book so please let me know if you are interested in having an intro call and potentially allocating.
Q: For US diversity in an RRSP is this a decent choice ?
Thanks Steve
Thanks Steve
Q: Hi guys
I know that you are not a fan of split capital shares, but I have had some success with them. With the oil companies being beaten down so much, I am willing to take a position and wait for a recovery. Are the underling companies solid in this structure. Are there any other vehicles that have a basket of oil companies that you would recommend
Thanks
I know that you are not a fan of split capital shares, but I have had some success with them. With the oil companies being beaten down so much, I am willing to take a position and wait for a recovery. Are the underling companies solid in this structure. Are there any other vehicles that have a basket of oil companies that you would recommend
Thanks
Q: Hello Peter & 5i group.
Do you have an opinion on this Fairfax holding FIH.U.
Thanks,
Ken
Do you have an opinion on this Fairfax holding FIH.U.
Thanks,
Ken
Q: I have owned this company for quite some time and I receive a good dividend each month but the share price has taken a beating over time.
I have tried to find out why but have had no luck getting any information.
Your help would be appreciated
I have tried to find out why but have had no luck getting any information.
Your help would be appreciated
Q: I have a question about 3135
Would you buy RA or GSBD or both or none for income. Both seem stable enough. Dividend probably safe do you agree ? Difficult for me to assess risk. I like that one is backed by Brookfield, the other by Goldman, or does that matter anymore.
Thanks.
Would you buy RA or GSBD or both or none for income. Both seem stable enough. Dividend probably safe do you agree ? Difficult for me to assess risk. I like that one is backed by Brookfield, the other by Goldman, or does that matter anymore.
Thanks.
Q: Any thoughts on EIT.UN after yesteday's raise of additional funds,
Q: The yield is curious. Where does the distribution come from? Not underlying dividends, and probably not from capital gains over the past year(?)
Q: How sustainable is the dividend? What is your overall opinion for the future of this company
Q: So, this is a what am I missing question, and I have missed a lot over 30 plus years of investing. I have held this for INCOME for over 2 years and at a 2.5% weighting and a cost base of $8.25. An average yld of 8% more then suits my requirements for income. A part of my thoughts were this fund should actually do OK in a raising interest rate situation, however it seems to be dropping recently. Is this a simple market reaction, a negative view on Manulife as a parent, or am I wrong on my views for stable value here? I am thinking of adding to 3% and seek your views. Again this is for a Yield play and stable cost base. Thanks
Q: Peter et al I am looking at QYLD for enhanced yield in the US and came across EOS. Without regard to the fees attached what is your opinion on these two generally. Secondly which would you buy for income if you had to buy one from a capital preservation perspective. Thanks so much for your insights as always. Ken
Q: What is your opinion on recent decline and reversal on this company. Is it a buy ?
Q: Could I get your opinion on LCS, OSP, SBC, Brompton funds which pay very high dividends
Q: hi there,
Can't seem to bring this stock up from the database. I am looking for a bit of income in the US and have been looking at a few of the Pimco funds. The high yield is a bit scary but its 5 year track record seems impressive. Thoughts?
Can't seem to bring this stock up from the database. I am looking for a bit of income in the US and have been looking at a few of the Pimco funds. The high yield is a bit scary but its 5 year track record seems impressive. Thoughts?
Q: There appears to be a significant sell-off over the past week of various split share funds (DFN, DGS, FFN, FTN, DF). Some are even trading at close to NAV.
Any idea what's going on?
Many of the funds are well above the NAV threshold and continue to pay the dividends so that doesn't appear to be the cause.
Any idea what's going on?
Many of the funds are well above the NAV threshold and continue to pay the dividends so that doesn't appear to be the cause.
Q: Regarding my earlier q on NRGY you mentioned that it was trading at a discount of around 3.5% and explained that there were some good reasons not to like the mutual fund that it would roll into.
But given that closed it closed at 5.52 and Ninepoint shows NAV as 6.03 it could - at that price - be purchased at a discount of about 8%, no? If that were the case, would it not have made sense - apart from the commodity risk - for a fund which will close in about 4 weeks and for which an investor would receive its NAV?
(I was really asking whether I was missing something in the conversion process from NRGY to NPP008)
But given that closed it closed at 5.52 and Ninepoint shows NAV as 6.03 it could - at that price - be purchased at a discount of about 8%, no? If that were the case, would it not have made sense - apart from the commodity risk - for a fund which will close in about 4 weeks and for which an investor would receive its NAV?
(I was really asking whether I was missing something in the conversion process from NRGY to NPP008)