Traders Cooperative

[Joe Stocks]

I have been researching and getting in to insurance/annuity companies. What do you think?

Most pay dividends and selling for less than book. They have re-occuring revenues and higher interest rates should lead to higher investment income. For mortgage insurers persistency is rising. I find JXN interesting. Spin-off from PRU-UK. I like GNW's spinoff - ACT. They are just now starting to pay dividends. And I like GNW for much the same reasons. And GNW now has a buyback in place and a commitment to return capital. BHF is also interesting. No divy but they buy back a hell of a lot of shares. LNC also intrigues me down here. No position but it has fallen far enough now that I may buy some.

Energy I like CHK. Got in after BK and have a nice gain. I sell calls around the position, and great dividneds!

My speculative long term lotto play is ALIN-B shares. ALIN (private equity held) is profitable. Much debt coming due in 2024, but if they chew through that debt perhaps we can see the preferreds getting paid a dividend again plus those in arrears. Less than 1% of port, and I have been in and out with trading gains on part.

RILY I like basically because their insiders buy tons of stock at market and shareholder friendly as to dividends.

And picked up some exchange traded debt yesterday. PBI-B and QVCC. BWSN recently as well.

The more I look in to WHLR the more pissed I am with CDR's management that they really think they can stick the preferreds with them and profit from it. I haven't decided how much I want to bet on the preferreds before the June 22nd hearing. I had 5% of port in then but sold over half when shares rose over 14.