Featured Articles
Wrapping Up a Successful Month
Tim McPartland | October 30, 2014
A strong GDP release today sent stocks skyrocketing higher--good news is good news this week. The strong growth was yawned at by the interest rate complex--a weird reaction. It appears that commodities and interest rates are taking their cue from the lousy global economy while the stock market believes that the U.S. can continue to operate in a vacuum--and who…
New MLP Shell Midstream Partners LP Zooms on 1st Day
Tim McPartland | October 29, 2014
Shell Midstream Partners LP (ticker:SHLX) began trading today. The shares were IPO'ed at $23 for 40,000,000 shares (plus 6,000,000 overallotment shares). The original guesstimated range for the offering was $19-21/unit. Shares rocketed higher and closed today at $33.55.Now it is fine if folks want to buy this issue--but you are buying a MLP that pays a damned meager distribution--slated to…
Social Security Disability Will Go Bust In 2016—-Unless Work Incentives Are Restored
Tim McPartland | October 29, 2014
Capital One Financial Sells a Preferred Issue-Update
Tim McPartland | October 29, 2014
Capital One Financial has sold a 6.70% non-cumulative perpetual preferred stock. As is normal for us at this time we have no interest in perpetual preferreds--and of course being a bank the shares are not cumulative.OTC trading ticker has not yet been announced but details of the issue are here.Thanks to reader Domenico for the heads up on this issue.UPDATE -…
