Replies to post #18840 on Mostly: Classical

[KastelCo]

Hi Eva,
Presently I own mostly yielders '*' means 2011 trust conversion issue to watch for:
holdings:

CONNACHER OIL AND 4.75%30JUN12 (CLL.DB.A) (debenture my eff yield > 13%) note this is a bet that CLL survives... more than just an oil bet.. and paid well to wait..
ARMTEC INFRASTRUCTURE INC FD T (ARF.UN) *
CML HEALTHCARE INC FD TR UNITS (CLC.UN) *
DAYLIGHT RES TR TRUST UTS (DAY.UN) *
BONAVISTA ENERGY TR TRUST UNIT (BNP.UN) *
MEDICAL FACILITIES CORP INC PA (DR.UN) *
GENIVAR INC FD TR UNITS (GNV.UN) *
HOME EQTY INC TR UNITS (HEQ.UN) Conversion plan announced. Converting to a bank with lower yield.
DDJ HIGH YIELD FD (HYB.UN) Good yield no conversion
K-BRO LINEN INC FD TR UTS (KBL.UN) *
KILLAM PROPERTIES (KMP) Good yield no conversion
MORNEAU SOBECO INC FD UNITS (MSI.UN) *
NEW FLYER INDS & NEW FLYER IND (NFI.UN) Good yield no conversion
NORTHSTAR HEALTHCARE (NHC) (imploded lottery ticket)
NORTHLAND POWER INC FD TR UTS (NPI.UN) * Has Green energy
NORTHERN PROPERTY REAL EST INV (NPR.UN) REIT
PEMBINA PIPELINE INC FD TR UNI (PIF.UN) *
PARKLAND INC FD TR UNIT (PKI.UN) *
STUDENT TRANSN AMER LTD (STB) Good yield no conversion
PROSHARES ULTRASHORT LEHMAN 20 (TBT)
SENTRY SELECT DIVERS INC FD TR (SDT.UN) *
CHINA NATURAL GAS (CHNG)
5N PLUS INC (VNP)
TRANSCAN PL (TRP) Good yield no conversion
FORTIS INC (FTS) Good yield no conversion
BORALEX POWER INC FD TR UNITS (BPT.UN) * Funny trading and thin. Green energy.
CASH 50%

If the environment does not change I'm wondering in some of these cases that 2011 is already largely priced in... Decisions Decisions ..

I have a couple on watch that I'm waiting to come off a bit which have no 2011 issues.. I may trade in some trusts I own for them .. as I want to maintain high cash since I'm obviously no clearer than anyone on the future..

I am watching CPG.UN since they have already come out with their 2011 plan.

Staying light on energy. Everything is fluid and trying not let any one position get too big.. I have had one big blowup
NHC and one minor blowup which I expect to turn out OK HEQ.UN.
These are basically all tax sheltered (RRSP/RESP).. Everything is fluid though and can change.. Capital preservation first.. Trading has been a real bitch... so I tend to take small scalps when they arrive.. up is down, down is up.. inflation/deflation.. I will not go all in and lean to cutting out fast.. the future is too fuzzy..

Good Luck
We could all use some these days..
Kastel

You can check out analyst comments here: http://www.stockchase.com/Company-sl--slq-ranges-slv-a-sla-rangee-slv-d.php

[johnlw]

Hello eva
I will stick my nose in.......even though yield producing equities are rather off topic for Frank's board.

One trust Kastel and I have in common is NPR.un, I hold it registered and in a cash account
Rental property in northern Canada
It does derive about 1/3 of its income from its Alberta properties but a slow down in Fort Mac would still be a booom most other places.
I think it has a virtual monopoly on rental properties in the far north - much of this is rented to gov't employees.
I have a buddy who has worked in the Artic for decades and he has stayed and worked for them and has no qualms about the outfit.
As far as 2011 goes:
Management expects to be able to make changes, if required, to the structure and operations in order to qualify for the REIT Exemption prior to 2011. Management continues to evaluate the alternatives available in making the required changes and will update unitholders as further progress is made.

All in all they seem like a realistic bunch (from the last quarterly report):
Playing defense is not as much fun. But doing it well is an essential “part of the game”.

JW