Jeff (JVincen2)

Abro hilo también dedicado a una persona que escribe en el hilo de Chowder.
¿Por qué?
Porque controla muchiiiiísimo de tecnología así como “pipelines”. Da unas opiniones muy pensadas y ha acertado en todo lo relativo a Enbridge, QCOM y GLW (entre otras cosas).
Como Chowder borra todo cada cierto tiempo, hay párrafos que merecen salvarse.

" All of that’s coming, first our legislators will need to divest or place their interests and stock holdings in some of them in other places before anything serious reigns them in a bit. Then the lobbyists will have to rework their approach at getting what they can live with too, look overseas because that type or another like it of social media regulation is on it’s way here too if only because it makes some great political soundbites :slight_smile: Anti-trust review will be coming and is well under way over there for a few of them
I own both QCOM and AAPL now days, glad I do but it has always surprised me how some concentrate so hard on QCOM in the courtrooms and seem to give AAPL no thought at all. AAPL is currently still in front of the SCOTUS while they decide if another group can sue them and have lost some of the courtroom cases they have been involved in lately including end of the line appeals in a few. They also are being actively looked at in quite a few other places around the world much in the same way QCOM was. I’m not saying either of them are right or wrong much less angels of commerce but I am saying what I have all along it’s just business at that level and anyone thinking that business attitude doesn’t apply to their investment is kidding themselves imho.
Here is something most never realized about some of the AAPL vs QCOM disagreements many of the QCOM attorneys used to represent AAPL before in other cases and vice versa with some of the others. It’s another part of the Judges comment view of how closely interrelated that industry really is. Recent news
<<< The European Union’s competition regulator might launch a probe of Apple over antitrust allegations.
The tech giant is accused of using its app store to gain an advantage for its own services over rivals. As a result, Competition Commissioner Margrethe Vestager said her agency would investigate to find out if there are any parallels with Google, which was fined 2.4 billion euros ($2.7 billion) in 2017 for cooking its search results to benefit its own shopping services, at the disadvantage of the services of others.
“We have to examine the role of Apple and Apple’s app store,” she was quoted as saying, according to Reuters. “If we conclude that they have a market-dominating position, then the case would be comparable to our proceedings against Google.” The news comes just a few days after music streaming service Spotify filed an antitrust complaint in Europe against Apple, accusing the tech giant of abusing its control of the Apple App Store so that it restricts competition from other music streaming services. >>>A few months back now
<<< Apple loses appeal of $439 million verdict in favor of VirnetX
By Roger Fingas
Tuesday, January 15, 2019, 07:45 am PT (10:45 am ET)
On Tuesday the federal U.S. Court of Appeals denied Apple’s appeal of a 2016 jury verdict in favor of VirnetX, which initially granted the patent licensing firm $302.4 million in damages. >>> If you look at AAPLs history there are very few times they have not been involved in some sort of litigation and have lost some Like the E book case and won some too.
And to be clear none of this is a knock on AAPL what I’m trying to point out is like QCOM it’s often as not simply just business at that level. Lots of chatter now days about Huawei and I can tell you flat out why they don’t have much of a presence here in America in the smartphone markets AAPL and probably a dozen others including QCOM would quickly sue the heck out of them for IP theft and various other things as a company.
Often they take a long time to sort out too, the current SCOTUS case started way back in time and involved T at one point and has been put to bed a few times merely to rise back up again. Some of that is because previous case law simply does not apply to some things now days so new rulings come along now and then. I think the case law involving AAPL and their APP store right now in front of the SCOTUS might be revisited it’s called the Illionois Brick doctrine. And again to be clear even if it is that doesn’t mean AAPL is guility of anything it merely means they can be sued for the way they do some things. That they didn’t stop looking at it all tends to make me think some are considering revisiting that case law. But they are a lot like AAPL and anyone thinking they know what the SCOTUS is up to is kidding themselves too :slight_smile:
Yeah I know a ramble but it makes it a little clearer what the point was. It always seemed to me what made some run away fast from QCOM is totally disregarded when it comes to some others and that makes little sense to me. What was ridiculous right from the start with the QCOM case still waiting on a decision was two departments handle anti- competitive monopolistic behavior for us the FTC and the DOJ and they were in complete disagreement about a case even being brought from the very start and that’s hardly a convincing way to go about things imho. And how one judge can flat out say in a legal proceeding you should completely disregard this supposed expert witness testimony which is what happened in the T case it’s worthless while he is considered a valid source in another is beyond me. Some of that is why I had such confidence an agreement would happen because the last thing you want is some Judge and jury deciding what’s right lol."
[…]
" Actually anyone who still holds QCOM and perhaps have suffered through some of my comments about them :slight_smile:
I think anyone who still holds them might want to take the time to read this article out now. It describes an eyewitness view of the opening statements in that last trail with AAPL including laying out some of the supporting evidence that was to be introduced in more depth once the trial got going full bore. Soon after they were made a settlement was announced.
What remains to be seen is how the FTC decision gets dealt with but it certainly does support once again that trial and apparently several others never should have taken place to begin with. I also think AAPL may end up regretting some of these moves a little more then I thought at first.
I know one of the earlier things that had me questioning what was going on was the sheer volume of “discovery material” AAPL seemed a little to hesitant to provide in some of the cases until they refreshed their own memory on them. That’s a problem for many of them like that in the tech field because it’s beyond huge amounts of things like emails, internal memos etc and first your going to want your own attorneys to look them over, a very long process and one prone to missing things.
As for me I plan to follow chowders often mentioned advice and if they turn in the right ER add a bit more QCOM then if I can. My last add done as he suggests be done one time then wait has locked in a nice yield on those shares. From what I can tell they remain the front runner in connecting things up in the newer 5G communications roll out and have stated an additional $2 will soon show up in their revised EPS outlook, forget the symbol and keep the numbers in mind and that’s one I want more of.
How accurate is this article ? beats me Bezos owns the Post now days but I doubt they go around looking to be sued on purpose without something firm behind a article. IZZ
The other day I thought that SP you mentioned was far to optimistic and today I’m not as sure it is. I thought it was a pretty interesting view about the trial and why that settlement came about. My point about not wanting to many things being placed in a public record is there too, no one wants their dirty laundry made public if they can avoid it. Makes me wonder a little bit what else may have been brought out into the light of day but will now remain just business at that level :slight_smile:
And Yup I want more AAPL too I can’t think of a better cutting edge technology working partnership then those two is why and it remains the investors thinking it’s personal, it isn’t. I would be amazed if they aren’t already pushing full steam ahead together on some things already.
They both are world shakers in their own right and shake it even harder when they work together and we need to stay out in front in todays technology race for many reasons and some have nothing to do with a bottom line number but are just as important. www.washingtonpost.com/…"
[…]
" It would only be a guess, I read that one and the comments and that’s all those were too. My view ? first off the latest agreement is the very first one directly between the two and to me signifies a relationship that will deepen going forward. AAPL has in fact continued to bring more things inhouse and was one of the things I told SQ to stay aware of, it has to do with controlling things better from a security sense and something they are rightfully proud of compared to some others imho. It’s not complicated why they are making some of these moves like their own SOCs. Your “Garden wall” can be twenty feet high but if it has a door others can enter through the wall no longer matters.
As to bringing modem technology in there it’s much easier said then done and I don’t think that’s really what they’re after or that new agreement would be both much shorter with no options attached. A direct license agreement like that one is not how AAPL usually does business and once again why that came about remains between them alone. What often gets missed with QCOM technology is not just the connectivity which by the way means your going to pay them in one way or another anyways same as 4G and even older 3G users but just as importantly the physical size and power savings they achieve with their technology too. It’s a heck of a combo and not easily replicated. The other thing to remember is it remains a moving target accelerating ever faster if that makes sense. That might partly explain the longer length of that new agreement lest AAPL finds itself behind once again. I assure you as I write this QCOM is actively working on what ever is coming next and showed they paid strict attention to Bill Gates who said if you don’t ignore the lawsuits let the lawyers handle them and keep your nose to the newer technology grindstone instead they will be your downfall.
Once again I find myself pointing out way to much weight is till being placed on the smartphone market imho QCOM and AAPL are looking much farther out then that market. Many things we never thought about being connected soon will be and that often brings you back to QCOM.
Lots of comments in the article you read, I read it too and many are from knowledgeable technology people but in the end the one thing I have never argued with Ron about remains true and it’s anyone thinking they know what AAPL is up to is kidding themselves. What’s next ? I find now days I can’t go very long without reading about Quantum communications and QKD Quantum key distribution being used. Some actively looking harder at it are of course QCOM AAPL INTC and IBM T VZ along with some others. And what will bring on even faster changes that way ? the more it’s rolled out and placed into use our newer 5G fiber fed information highway will. That was an astounding amount of data UNP uses now days so it’s not hard imho to apply that change to a great many others adopting newer business practices too. Who actually makes it work well and so benefits from it remains to be seen.
One thing not talked about much by all of the “arm chair” lawyers debating the whole thing I noticed was the huge QCOM shares buyback that was made at what now looks like some pretty good prices. Management was called complete idiots previously :slight_smile: I’m not a fan of them but this time it seems to have worked to the companies favor.
They still have a big problem ahead of them with the FTC decision yet to be announced but with the recent agreement in this trial it certainly becomes one they could appeal easier now it seems.
I also meant what I said I’m very glad to see them working together again. Another thing is I think INTC will be just fine going forward they still dominate the market they are in and it seems some of the up and coming competition that way just disappeared and some others are having what you might call legitimacy concerns. I won’t pull any punches I do think we have not paid enough attention to some of our internet related vulnerabilities and we need to. No comment about the SPACE rocket launch anomaly ? a PC term for everything now days huh ? sounds so much better then it blew up.
Jeff"
[…]
"One of my five technology placed holdings already is a dividend champion BMI and QCOM isn’t that many years away from that record now either.
Both QCOM and MSFT started a dividend program way back in 2003 about one month apart from each other. And CSCO is another one that has shown me patience, sometimes extreme patience can work out for you, In their case they were merely left alone at times in my IRA, wasn’t a mystery why I was busy working, BMI ORI PAYX all laid there pretty much ignored for many years too but they paid a dividend. I saw the back testing look brought around about CSCO and TR all I know is for me I have a big CSCO position right now and darn glad I do as the income they throw off continues to grow bigger. But if that changes I will change how I view some of them too same as any other holding. I don’t see any big icebergs on the horizon for any of them yet myself and QCOM just steered right around the one in front of them.
I made myself clear I was not going to be scared out of QCOM or “advised” out either the way I was with MSFT.
Much of my newer CSCO shares were bought in 2013-14-15-16 just as chowder often points out it’s never one and done and they were considered “'dead money” guess someone woke them back up : ) Five tech holdings for me AAPL BMI CSCO GLW QCOM
AAPL
Though they play things close to the vest a strong push into the health care market seems to be one place they intend to grow bigger in. It’s ripe for some change that’s for sure and technology will be one of the tools that gest used more to change it I think. They also have fingers into things like VR and I think you will also see things like Apple pay become more of a cash cow for them too. They have a really “sticky” appeal to those that use their products and they are moving hard in several different ways to exploit that. I’m with Ron and think their services growth is simply amazing and doesn’t get nearly the amount of respect it deserves.
BMI
At times chowder talks about utilities consolidating and BMI products will be one of the things that helps them do just that. Smart meters will continue to be embraced as time moves on and our grid evolves into a smart one. BMI offers some of the latest technology LTE cellular connected smart meters out there.
CSCO
Made a big push into recurring revenues driven by subscription based services offered through what for many has been the backbone of the internet right from the start for them CSCO. Saw what the cloud was doing for AWS and didn’t hesitate to start heading where they wanted to be, indecision in one that size can be costly, IBM imho is an example of that wandering around problem and CSCO doesn’t suffer from that. They headed off in new directions a few years back now and are starting to see the results of that effort paying off and more importantly are growing again. . Grew large from a slaesmans view and leadership and continue to grow even larger from another ones and imho remain on the right track. There are many who compete against them but they are still a giant among them all. And they continuously grow even larger with the right bolt on acquisitions.

GLW
Like QCOM they know that to stay in the game R&D matters and have funded that effort continuously for decades. I passed through Corning NY on the way south and yet another additrion is being added to their R&D center called Sullivan park. I trusted management when they laid out where they were headed in their four year plan back in late 2015 and they have surpassed everything they talked about. In it they also said they would grow the dividend by at least 10% a year and they have. They also said they would be spending a lot on cap-ex for newer plants and they are coming on line now. I can’t wait to see what the next plan they lay out is in 2020. They have five different divisions and all of them are contributing to the bottom line now days nd much of todays politics don’t affect them as badly as it does others.
QCOM
I don’t see anything holding them back now and think your going to see many of the OEMs continue to rely on them to come up with additional break throughs from their huge R&D spending. I think you will also see AAPL and them work together to bring us much closer to a few things that are going to wow us all and wow usually sells pretty well. I also think another nice increase in the QCOM dividend is coming soon and that works for me :slight_smile:
You know what is more important to me then what sector these five get placed in ? some are very old holdings and one is newer to me but I have a lot of confidence in all five of them too. I see confidence in a holding get questioned here all the time, heck I just went through that with a few myself but not with this five and that matters. You want a real confident one example for me ? I often go several weeks at a time without even knowing what ORIs SP even is. Sometimes I completely forget about them until they stop by and say hi once again. Small raises but steady as can be and the older I get the more I appreciate that in a holding. I get it they’re not for some here, I don’t care I hold them for my reasons not theirs same as my others."

2 Likes

“Berkshire in some ways has influenced me to hold my two renewable investments and they have been into renewables since the 1990s with Mid America energy. I have been clear about holding renewables all along and one of mine the larger of the two BEP has Brookfield behind it a company that has well over 100 years in renewable energy and are often considered the Berkshire of Canada. My other one has grown larger all by itself and in that one you need to look for long term PPA (power purchase agreements) and PPAs that are with investment grade customers and are structured non recourse debt projects so when something comes along out of the ordinary like a weather event it stays with the one project only. The number you use for them is CAFD and PEGI has been doing just fine in all those ways. I see a lot of interest here about NEE but none about their renewable moves NEP and the way those work best is having a deep pocket big brother like NEE and NEE sure seems to like renewables and have a deep pocket too.
Lots of “reasons” out there for renewables growing now days and I won’t get into those reasons, it remains a hot debate in some minds . But I will add that I put my first solar panel up at the cabin back in the 1990s and it cost me around $500, it’s still making power there today just fine. The last one I put up a few years ago was half the size with twice the power output and cost under $100 , so imho solar is here to stay and grow much bigger, so is wind power.
All over the place ? nope but it’s use along with wind will continue to grow larger going forward and those that fail to adopt it in one way or another will regret that one day.
I built most of my AEP position back when they were unloved and it was because they made it clear they goofed up by entering to many unregulated energy projects and were determined to move back into the regulated energy markets. They did just that and have made darn sure now days when they get involved in a renewable one it’s an already approved and regulated market one. I don’t want any more direct exposure to that type of energy then I have now with BEP and PEGI but it’s not because I’m worried about them it’s because I already have it in ones like AEP D WEC and imho so do many others here that at times question renewables without even realizing they have exposure to them already. The other reason I watch that energy market is I want to make darn sure the ones I hold do participate in it and avoid riding a dinosaur utility into the history books.
I think chowders right on the money with consolidation and with advances in technology it’s going to make it even easier to do just that going forward as our grid continues to be a giant puzzle coming together. I have some WTR now days and want more, I think the consolidation moves as a utility provider they are making are the right ones, time will tell if that’s true or not.”

“Then I will make one, I greatly respect Mike’s views but I feel in QCOMs case his drama comment is way off base and shows a bias against some technology investments that is unwarranted and may end up costing a younger person an opportunity.
What investment doesn’t have some sort of noise attached to it. Consumer staples ? GIS ? the BB acquisition has been beat to death, KFC ? another good example. How about other types KMI ? . How about the TGT back and forth over the years ?
Sticking to tech over in the other blog I pointed out to him he likes AVGO but they have much of the exact same things going on right now and in their past they were business monitored also. AVGO wanted to swallow QCOM whole for very good reasons all related to the future. None of them were related to them going under anytime soon so liking the one while finding the other a loser is beyond me.
It was you that taught me to concentrate on why you hold something and tune out any noise and it seems to me that is being unfairly applied in this case. Nothing has changed yet that I can see, QCOM will still be paying me a fat dividend later on this month just as they have for 16 years in a row now and still has many desirable things in their numbers going for them like no debt and a great credit rating but apparently the noise matters more, not to me.
I would be much more inclined to agree with your reasoning about the future being cloudy for some like CAH then the way I see others view QCOM. And politics are indeed affecting both at the moment but that’s often a short term problem as you have taught me and I think in much longer terms now days.
You are currently moving into SYK I don’t need to as I have had them for some time already. I get that reasoning but I’m not willing to toss in the towel easily on some others I know well at the same time. I read but comment less here because that’s an older guys view of how sure are you it will be there. And that’s number one with some holdings for me now days and I think both CAH and QCOM will still be there for me.
Last week QCOM brought it’s 75th OEM onboard in 5G related products and I would add for those who might not understand todays news the recent AAPL settlement agreement is unaffected by it. This is now going to be about how to walk out of a mud pit for some of the ones involved without getting even dirtier. My comment over on the other blog explains some of that view. So I plan to remain patient and see what plays out which is the same thing I have done with other investments time and again and been glad I did whether they were technology based or not. QCOM still has roughly 10 billion left for their buyback program and seems like shares just went on sale again. An example of listening to noise and ignoring facts is if I said company (fill in the name) was a giant in their field was debt free had a great credit rating and was firmly projected to add two dollars to their EPS this year in comparison and even more again going farther out who wouldn’t want to at least look harder at them ? yet the noise has people listening hard but closing their eyes to what’s right in front of them.
To me market noise is still noise no matter what investment or sector your talking about and what the market does has nothing to do with my portfolio anymore. If I remain confident in their future then I plan to stay the course until that view changes.
Since I’m here I will add that imho a younger person would do just fine going forward by building positions of size over time in any of the following technology investments AAPL CSCO QCOM TXN even AVGO but none of them will be constantly smooth sailing investments and to me those rough seas only mean opportunity is knocking. And they should also quit being so narrowly focused on the smartphone market noise alone it’s about to be one small part of a much bigger picture being painted now by the ones mentioned above. The best technology investments are constantly thinking several years out not several months. Find one that operates that way and git sum !
Jeff”

3 Likes

“Well it is still today until 12PM :slight_smile: some of the current view from SSD on the latest news in an update email they sent me. Remember that the things being discussed here are known figures dealing with past results, none of it relates to what may, or may not happen going forward.
" In other words, in such a scenario there would be little room to cover Qualcomm’s $3 billion dividend commitment, especially while leaving enough room for the firm to continue investing in its business for the future.
in other words, in such a scenario there would be little room to cover Qualcomm’s $3 billion dividend commitment, especially while leaving enough room for the firm to continue investing in its business for the future.
How likely is that scenario? It’s hard to say. Probably still unlikely, but it would now seem to be within the realm of possibilities following last night’s ruling. Until more is known about Qualcomm’s likely efforts to appeal the ruling, plus how severely a final adverse ruling would really hurt the firm’s licensing business, Qualcomm retains its Borderline Safe Dividend Safety Score.
Qualcomm’s increasingly wide range of potential outcomes seems to make the stock a less ideal option for conservative income investors whose top priority is a safe dividend in all environments (and legal outcomes)”
So to me and my simpler view SSD is saying not for conservative investors, they are not saying flat out to steer clear of them. I agree but I’m not a conservative investor 100% of the time either so I’m sticking around. Note those last three words below because I also agree with that view too and it’s SSD saying unlikely.
" How likely is that scenario? It’s hard to say. Probably still unlikely"
Now lets read how they left it all for now as borderline safe and again I agree with the SSD view and it remains the exact same reason I won’t cut and run yet.
“As long as the worst-case scenario doesn’t actually occur, the company’s intellectual property, including a strong position in 5G wireless technology, means income investors will likely continue enjoying a safe and growing dividend going forward. However, as conservative investors our preference is to invest in simpler businesses whose futures don’t hinge on low-probability, high-severity events.”
As for being a monopoly it was nonsense from the start, being better at something is not a crime. Note the names and the reasons why following them but to suggest there was no competition was way off base. Is it QCOMs fault that one can’t be trusted and the other is AAPLs arch enemy in the smartphone market while the third had an inferior product. Not liking the other modem choices out there has nothing to do with QCOM products.
" Intel had failed so miserably in creating a competitive 5G modem that Apple pursued its own modem chip setting up a design team in San Diego. Apple has faced delays that won’t have the modem coming out until 2025.
Engadget detailed how Apple had previously pursued a second modem supplier due to a lack of trust in the development progress at Intel. The other alternatives of Huawei (regulatory/China), MediaTek (MDTKF) (technical) and Samsung (OTC:SSNLF) (impractical) leave Apple out in the cold and proves that Qualcomm isn’t a monopoly due to all of the alternatives on the market".
Now think of that 6 year agreement just signed timeline between AAPL and QCOM and the year 2025, it’s just business at that level. The very last sentence is one that’s true also as AAPL always wants the best.
" Apple settled with Qualcomm with a six-year term that to no surprise ends in 2025 and included an agreement to drop all ongoing worldwide litigation. In addition, the deal offers a two-year extension on the likely outcome that Apple doesn’t have a competitive chip by that time frame. Not to mention, Apple decided on this settlement despite early indications that the judge sided with the FTC. Monopoly or not, Apple needs the modem chips from Qualcomm to provide the best smartphone on the market."
As to FRAND that also is way off base and for those that might not understand that new agreement much like the old one with AAPLs contract manufacturers gets them all of QCOM technology and AAPL really wants some of the IP technology QCOM owns involving longer battery life in things like their watches among dozens of other new products coming. Again though it’s not QCOMs fault you can’t make a better product then they can but that superior product costs R&D $$$ to invent it and they are entitled to be compensated for that effort. AAPL was able to make billions in profits so how any “harm” was shown to be real remains a puzzle just as many who know a great deal more about all of this then I do stated. You have to actually show the harm not just theorize about it, AAPL seem like they were harmed ? .
" In essence, Apple really never had a case to pursue against Qualcomm and considering they have no alternative chip to produce a 5G iPhone model in 2020 the settlement agreement makes perfect business sense. In addition, Reuters suggests Apple got a license rate of $8 to $9 per phone questioning the whole concept of charging an unreasonably high rate for the wireless technology developed by Qualcomm that Apple used to create the most valuable company in the world."
And now one last comment and then I will be done. One reason I will continue to have some patience as they appeal this ridiculous ruling in a case that even their twin the DOJ antitrust watchdog has said never should have taken place is here regarding 9th circut court decisions being appealed, four out of five odds work for me. Not saying it’s a slam dunk, nothing is, only saying I will not be scared out of them until I see something that clearly says move along and I don’t yet all I see is a lot of noise still.
" From 2010 to 2015, of the cases it accepted to review, the Supreme Court reversed around 79 percent of the cases from the Ninth Circuit "
Jeff"

4 Likes

“Raining again so some tech talk :slight_smile: I said your going to keep on hearing about Smart cities over the next 5-10 years here is one reason why. In fact I was asked the other day how I thought smart cities relying on small cells would be deployed. Once again I felt as if the question was posed as some far off future event and thousands of newer so called “Smart Fusion Poles” have been being put up for quite awhile now. It’s not some far off future event it’s happening right now and exactly why both T and VZ among others have been spending billions to be the link in the chain so to speak with their fiber based communication grids.
Another term you will continue to hear come up going forward will be “Edge computing” and these new smart poles will often define that edge positioning computing it refers to. Its a fast and efficient way to support both the dominant now days 4G LTE system and any legacy users of previous versions and to also grow the NR (new radio) 5G bands in use going forward. They are deployed fast because they use the same footprint older dumb poles did often located close by a fiber optical cabling location. And they are true plug and play designed installs that can both go up fast and go to work fast also as they are backwards compatible. Here is one version offered by AMT below covering what I’m talking about and the one they offer comes with newer much more power efficient LED lighting too for a bonus to replace older poles.
" Improve Capacity and Coverage in Dense Urban Environments
In the most crowded urban centers, get fast and easy access to street-level locations for wireless infrastructure with the Smart Fusion Pole, an industry-first solution co-developed by American Tower and Signify (formerly Philips Lighting). The Smart Fusion Pole brings together energy-efficient LED lighting and wireless communications infrastructure in an aesthetically pleasing streetlight pole design. The solution allows mobile network operators to efficiently scale small cell deployments in cities and makes it easier for them to collaborate with cities to deliver smart city applications. "
And with the FCC backing the 5G roll out in ways like cutting down red tape often associated with cellular communications support placement it’s a way to avoid things like that right from the start. If there was a light pole there anyways what are you going to be arguing about a pole that uses less power and saves you money in countless ways along with what ever usage fee comes with it ?. You can of course choose to stay a dumb city but that’s going to be a rare event imho.
“Optimize Small Cell Deployments. Predictable and scalable small cell deployments allow for speed to market, while eliminating the burdensome task associated with finding individual sites and securing rights. We provide access to thousands of locations for deploying Smart Fusion Poles.”
They allow older communication systems to stay functioning while bringing you into the newer ones at the same time.
" Design for Flexibility. Strengthen your competitive edge with access to prime, street-level wireless sites needed to advance your urban telecom strategy.
The wireless radios in the Smart Fusion Pole support the 4G LTE frequency bands that mobile operators use today, including the LAA band in the 5.8 GHz range, as well as emerging bands, such as the CBRS in the 3.5 GHz range.
The Smart Fusion Pole features a plug-and-play design, making it easy to install small cell equipment from major Original Equipment Manufacturers (OEMs), while supporting emerging technologies, such as 5G and the Internet of Things (IoT). "
There are already some smart cities around and many more are close to being up and running. Sometimes newer really is a better way to operate is why. Several things listed below and I could easily add another seven if not dozens more reasons why it will continue to be rolled out. I brought that UNP railroad use of cellular connected AI here to show one of the reasons it’s use will be continuing to grow as those who choose to shun it fade into history, one reason below here applies to UNP as they saw the huge benefits of fleet management appear with it’s use. A dollar not spent for what ever reason AI helped them avoid is another dollar of profit.
" Power the Smart City. Use Smart Fusion Poles to conceal wireless communications equipment needed for smart city applications in plain sight. Now, cities and mobile operators can work together to enable IoT applications to further their green initiatives:
Reduce the number of cars on crowded urban streets
Provide city residents access to intelligent transit solutions
Reduce fuel consumption and operating hours for city vehicles with fleet management applications
Reduce road congestion and pollution with connected traffic lights and smart parking applications
Optimize use of resources with energy, water, and gas metering and management applications "
I won’t bore you even more with an edge computing view but will add again people concentrating on the smart phone market alone of say several hundred M- illion newer 5G phones on their way to be sold are missing the B -illions of different smart items that will be connected one day on that “edge platform”.
And imho not much has changed both AAPL and QCOM even right now while the noise is still swirling around have that future market fully in mind. And they will head to it together if need be without so much as blinking an eye, it’s just business at that level.
Meanwhile I choose to stay long AAPL BMI CSCO GLW QCOM T VZ because each of them has a role to play in 5G going forward, how big a role remains to be seen.
Jeff”

4 Likes

“All this is at the moment so it’s constantly changing too.
Energy is around 12% but my XOM was built mostly from a former BP position and I would like to make it larger. In fact I’m comfortable with my three energy holdings getting up to around 15-16%. Information technology is getting bigger all the time too 20% +. Thing is that reads one way but it’s mostly from oversized CSCO QCOM BMI PAYX GLW holdings, all are long term investments shortest is GLW in 2002. But for example PAYX and BMI are technology placed companies but BMI is an industrial at heart too and PAYX can be found in financial listings too, all depends on who is naming/placing them.
Want another of my simpler views ? I don’t get concerned about it, if it’s a winner I let it run :slight_smile:
Biggest sector ? utilities at right around 28 % WTR has easily pushed me above the 25% mark. I left NGG and only have about a third of PPL I used to but those funds didn’t stray far they got turned into more utilities for the most part. Add T and VZ in there closer to 40% and T is bigger then VZ but I wouldn’t mind one bit if they were equal. It also includes two others BEP which I’m also very comfortable holding and a smaller position in PEGI which is on it’s own to grow bigger, not that I don’t trust it completely more like they’re newer and need to prove to me my trust is warranted but so far has been a good one, people misunderstand them all the time they’re doing fine. YIELDCOs use depreciation more then some others is one reason why but they’re in a place I want some of wind and solar. D was my biggest utility but AEP passed them by lately, can’t believe AEP is in the 90s for a SP.
I think my consumer staples could get larger but haven’t really pushed hard, KO is the biggest and that’s fine they help me SWAN. I have been after MO when I can make that happen and even there MO and PM are there in staples but at times I wonder why not discretionary for them ? you can live without tobacco.? SWM is in there too in some places while SSD places them in materials.
I’m light on healthcare JNJ is a small holding for me CAH SYK are both bigger and so is ABBV but they got/get treated like PEGI on their own to prosper, best performer ? SYK hands down and I feel the same way as always they cost ya but they’re worth it. Very little materials or industrials unless you look at placement differently GLW might change that for instance. I will live without them for now still smarting a bit from my wasted GE years.
Anyways I’m happiest about my lower Beta number lately, my current SSD portfolio numbers are five year dividend growth of 6.3% yield 4.57% Beta of 0.66 (low :). No complaints here at the moment and while I hold some others might not they’re well known investments to me and ALL investments carry some risk, every single one of them.
There is no new money besides dividends and I’m all over the map in position sizing, some are really big others are much smaller and will more then likely stay that way. I do try to grow some of those smaller ones like say TJX bigger when I can but no one has priority. I’m more of an equal opportuinity employer if that looks pretty good today I add it whether it’s already big or not isn’t as important to me. My TJX now has above a 50% cap gain in it by simply ignoring Mister Markets attitude and a two for one split. Smallest right now KMI and the PTY little toe I stuck in the water at a slight discount, so far anyways :slight_smile: Biigest payer changes hands now and then too. Usually ORI wins that prize and before I turned the DRIPs off I used to get more shares that way four times a year then I bought to begin with :slight_smile:
Jeff”

4 Likes

Acerca de CAH:

“I have kept them in my portfolio but they are a longer term holding for me and while I haven’t added to them lately they stay. He has his reasons for leaving them and I have mine for staying but I would add I think he has made it clear many times before that we all should stick to our own convictions at times. For me CAH is a good example of that thinking.
All companies stumble hard now and then it’s how they get back up that matters more and CAH has in fact turned in several beats in a row and is still working hard on integrating it’s medical device acquisitions in an effort to grow their revenue streams. Meanwhile SSD still rates them a very safe 74 for that current well over 4 % yield. I’m not a youngster and can understand some of chowders view of moving away from the pill suppliers but a safe looking dividend like CAHs still is at my age isn’t one I’m leaving fast either.
I just commented on them over in Ron’s blog and will leave most of that there but here is their latest ERs below and some other facts supplied by SSD. They have experienced management who knows how to adjust to potholes that come along and I plan to stick around awhile longer and see how they do with that.
CAH
Dividend Yield 4.26%
Last Year 3% Slow
Last 5 Years 11% per year Fast
Last 20 Years 20% per year Very Fast
Dividend Growth Streak 22 years of consecutive increases
Uninterrupted Dividend Streak 28+ years without a dividend cut
**May 9 2019 Cardinal Health beats by $0.17, beats on revenue **
Revenue of $35.23B (+4.8% Y/Y) beats by $140M.
FQ2 2019 (Dec 2018) EPS of $1.29 beat by $0.20 Revenue of $37.74B (7.26% YoY) beat by $1.65B
FQ1 2019 (Sep 2018) EPS of $1.29 beat by $0.22 Revenue of $35.21B (7.88% YoY) beat by $1.55B
FQ4 2018 (Jun 2018) EPS of $1.01 beat by $0.08 Revenue of $35.35B (7.23% YoY) beat by $972.40M
I would also point out that CAH is a prime example to me of why the view that all dividend growth investors think exactly alike like robots in a line is pure nonsense. And chowder has been moving into one that is also an older investment in some ways for me SYK and one I have been saying when asked over my time here at SA before think is a good one. SYK is a prime example of chowders value is in the future outlook. I was told they were overvalued a hundred times before and yet they just kept right on proving they weren’t :slight_smile:
Hope you will not take offense at a different point of view in CAH chowder. I wouldn’t open them up as a new position now if I were a younger investor but I’m not so not running away anytime soon from one that has been good to me anytime soon either. It’s actually you that has made me be so darn stubborn about some of mine.
Jeff”

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Acerca de BEP:

"Two very different headlines today on BEP which I own and wouldn’t mind getting bigger. They show you why looking under the covers matters, the first deals with EPS and the metric that matters is FFO. They have been a great dividend growth investment so far and I think that’s only going to continue going forward. 12%-15% returns work for me it lets me keep on “rounding the bases” on the way to home plate.
Some others here have some BEP I think and for me I would like even more, green renewable power is going to continue to grow larger going forward is why. And Brookfield has been in it a very long time already. They are the only renewable with that credit rating and are experts at “capital recycling” older asset funds into newer assets all over the world. They bought up Terra form for pennies on the dollar amounts when that group finally realized they didn’t know what the heck they were doing, Brookfield does.

  1. “Brookfield Renewable Partners EPS misses by $0.35, beats on revenue”
    Jul. 31, 2019
    Brookfield Renewable Partners (NYSE:BEP): Q2 GAAP EPS of $0.05 misses by $0.35; FFO of $0.74
    Revenue of $787M (+7.1% Y/Y) beats by $53M.
  2. “Brookfield Renewable Announces Strong Second Quarter Results”
    Wed July 31, 2019 Reported financial results for the three and six months ended June 30, 2019. “We continue to make good progress in advancing our strategic priorities with a focus on delivering 12% to 15% long-term returns to our unitholders,” said Sachin Shah, CEO of Brookfield Renewable. “During the quarter, we executed many operational improvements, invested new capital into a number of transactions, and added a global solar development business as another growth area for us. All the while, we continue to strengthen our balance sheet and access diverse sources of capital.”
    So number two is the one you want to pay attention to and the reasons why are below.
    Highlights
    Generated FFO per unit of $0.74, a 35% increase over the prior year.
    (that’s where the dividend/distribution comes from)
    Announced our investment into a joint venture of a global solar developer with over 6,500 megawatts of utility-scale photovoltaic solar for approximately $500 million (approximately $125 million net to BEP) which we expect to close in the fourth quarter.
    Closed the acquisition of 210 megawatts of operating wind in India.
    Closed the first C$350 million tranche of our C$750 million investment into an Alberta renewables portfolio.
    Through TerraForm Power, announced the acquisition of a 322 megawatt distributed generation portfolio in the U.S., nearly doubling our distributed generation footprint and providing significant opportunities to drive incremental cash flow growth through operational and commercial synergies.
    Ended the quarter with over $2.5 billion of available liquidity and raised approximately $275 million in incremental liquidity with the closing of the sale of certain of our South Africa facilities, as well as strategic up-financings and other liquidity initiatives.
    Reduced our FFO payout ratio on an annualized basis to approximately 85%.
    Balance Sheet and Liquidity (a metric SQ and Bob have me focusing on more now days :slight_smile:
    We ended the quarter with over $2.5 billion of available liquidity. In addition, we continue to prioritize an investment grade balance sheet (we are rated BBB+ by S&P) which we believe gives us significant financial flexibility and provides investors with a lower overall risk profile. We also remain focused on terming out our debt at low rates and hedging our cash flows from currency fluctuation when the cost is economically prudent.

I would add that if you know what “carbon credits " are then one thing up there is an important one to note. That doubling of distributed renewable power footprint here in the states. Has to do with how some of the bigger players out there say they’re embracing green renewable power and what they actually mean is they’re buying carbon credits not putting up solar panels for example just supporting the growth of that power in other ways. The two different S.A.headlines being so different show again that know what you own is important.
Jeff”

1 Like

Para quien se plantee entrar en Corning (GLW).

“In the current train wreck, all aboard, GLW did today dip below $28/shr. This is my current ‘fair value’ price for GLW and it’s a good price to start a new position in GLW. I will not add at this price as GLW is already a significant position for us, but I would consider adding at prices below $25/shr.(minimum 10% under value). Get those LBO’s in…it’s price tomorrow could be in the $27/shr range!”

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"We have “chewed” on utilities many times before and IMHO chowder had it right back in time that we would see continued utility consolidation going forward, I agreed then and still do now. In fact I own WTR now days because that’s exactly what they were up to by adding a NG aspect to their water business for an example of that consolidation. Where I may differ from chowder is in what we both consider “utilities” he has a more traditional view of them (it seems to me though I do agree with his telecom view) and I have a much wider view of that utility service provider.
I bring this up in relation to what I consider will be a “utility” like provider the rest of my lifetime and farther out then that also and the consolidation that has already taken place and will continue to happen going forward, data centers.
Some of the bigger telecoms like T and VZ too sold off their previous versions of that service quite awhile back now. Don’t overthink that it’s not that complicated, you think you can compete with who ever provides your utilities then why don’t you ? I know from an off grid lifestyle part of the year it’s impossible to compete that way. And T and VZ knew it too, easier ( and cheaper) to be a customer then maintain and supply. Many other smaller providers of that service have already been swallowed up and that utility like service “consolidation” is going to continue to happen.
I spent some time digging around but so far no firm trail to follow with this consolidation. My hope is it’s Brookfield or for you DLR holders them, even better would be yet another JV with them both involved. But my point remains about consolidation and what imho will be considered 21st century “utilities” by some including my Grandsons as we go forward.
My larger view of that word utility also includes A.E. power generators I think you have to be pretty naïve to not include them anymore myself but to each his own. Buying so called carbon credits alone will ensure the A.E. continued growth going forward. One need look no farther then the “interest” PEGI is generating right now for yet another example of that utility consolidation going on.

Yesterdays “consolidation” news blurb below and yup imho it’s because some of them are thinking several years out not just several quarters and are spending now to make sure they own what’s going to be needed in a much bigger way later on.
At the concert the other night I saw huge amounts of data being generated by smartphone videos, hard to miss the screen glow and as you know I think they are about to be only one of many newer data generators coming online right now, many like smart speakers already are generating data 24x7.
" Data REITs up amid CyrusOne sale interest report
Data center REITs are on the move after Bloomberg headlines noting CyrusOne (CONE +6.8%) is exploring a sale following recent interest.".

DLR y BIP: Juntas han ganado contratos para construir centros de datos.

Y en otras zonas compiten.

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" I think IBMs future is a positive one myself but speedbumps will remain. I have said right along they would be on my short list for a technology add. It can take a very long time to stop a train IBMs size and then head off in another direction and of course the Engineer driving certainly matters. You can’t hold them all but IBM would be one I went after over the next few years as things get a bit clearer with them and the RedHat acquisition if I wanted another or becomes a true bargain at some point and I could.
Not this year and more then likely not for a few more but eventually I think Big Blue will show they were worth holding onto or building larger as things like AI become much more widespread in use. They are deeply involved in that technology evolution and display one other thing I enjoy seeing in my technology holdings concentrating on what’s coming next also, in their case it’s quantum computing.
I have studied the heck out of IBM and always come away thinking it’s got more of an upside chance then down and they are paying you to wait and see if that upside appears. Like CSCO one should look at two numbers not just the EPS/dividend ratio alone but also the FCF/dividend one too and I don’t see anything alarming there. If the RedHat aquisition has you wondering look no further then another one that some here hold and like AVGO because Hock Tan’s CA aquisition was done for the very same reasons. Ignoring cloud computing was costly for some of them, continuing to do so will be a terminal illness. IBM understands that all to well now, MSFT woke up a bit earleir to it all (finally) but late to the party is still better then never joining it at all and IBM has a lot of friends who will want to go to the party with them if they only can provide a ride there. Oracle is also rowing as fast as they can to the cloud now days in case anyone hasn’t noticed. There is still huge growth available to split up and share that way some who should know say 80% of businesses who will migrate to it eventually in one way or another haven’t yet. That’s something you have heard me say before. There really is only one choice to make for a business concern now days and that’s to move forward as the way things used to be disappear, standing still will soon have you closing up shop.
IBM has been refocusing its business from legacy hardware and IT software to what it calls “strategic imperatives,” or SI. And that means subscription-focused cloud computing, data analytics applications, and cybersecurity products, something I think will grow bigger over say the next ten years. So for me that’s the area I would want to see growth in, growth they paid to much for ? perhaps, time will tell. If you wanted them as a bargain they sure have offered up a few times to grab them. And if you think they’re a falling knife all I can say is it’s one still in it’s sheaf it it is so should let you handle it safely before it’s out of it and dangerous.
Vince"

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Sobre tecnología:

Technology has found it’s way into everything out there now days and if anything when it all falls down again many will still be looking to some of that technology simply to keep them alive.
Someone asked me the other day to explain why I feel that way about technology investments in a general sense and I replied that using it is no longer an either or choice anymore, ignore it and you will go out of business no matter what your business is. It would be like trying to run a major corporation in say the 1960s with no telephone services, intercoms, mail rooms, copy machines and other things like that at all, you would go out of business in a few weeks. And now days without using technology the same thing would happen and the tech involved does a whole heck of a lot more for them too.
That said like any other it’s a sector you can get wrong just as any other is but I always find it odd that after so much time has passed for some of them like those two you just mentioned MSFT (IPO 1986) TXN (IPO 1978) they don’t get a little more respect as older mature companies now days. Especially TXN who has been around a lot longer then that IPO date.They started out in transistor radios in 1954 !. As Dan (I think) pointed out they’re King in analogue products with something like 40,000 different ones along with design tools.
They have showed you they have staying power many times already and I honestly do think their future remains as bright as it ever was. MSFT along with everything else they do Azure is coming into it’s own and TXN is in a market about to undergo big growth.
They both are in the right place at the right time with the right stuff once again, good companies tend to do that time and again.
Vince

Sobre CSCO y SaaS:

Don’t disagree with that Mike but imho the market is giving investors a short term bargain from not understanding CSCO is dealing with the “macro” view at the moment. I already have had a long relationship with CSCO and continue to have a much longer timeline in mind for my CSCO position. So I still think when that pullback shows up tomorrow as you say if I didn’t already have a crap load of CSCO I would get some more.
Two things jumped out at me in that ER despite any guidance going forward for the next quarter. And it’s things that if in fact weren’t showing growth I would advise waiting awhile but they didn’t they grew.
"Security, up 22% Applications, up 6% Services, up 4% ‘’.
Those things tell me CSCOs long term planning of shifting from one time hardware sales to recurring revenue software ones remain on track. Will that continue ? maybe not over the next few quarters but I’m still in them for the very long haul not just the next few quarters.
S.A. says they have a 5 Year Growth Rate (CAGR) 20.21%
They started out paying a dividend in 2011 at $0.06 and now it’s $0.35 and they are a very friendly to shareholders company who I think many of the changes coming will allow them to keep right on being just that.
And that “security” growth is also another strong driver “tell” for AAPL in some other related ways, privacy is going to remain an issue going forward. AVGO is also trying to get some of that with their Symantec moves.
Watching where some of the big boys are heading isn’t that hard at times,
CSCSO moved away from hardware and pushed into recurring software sales revenue earlier then some others for a reason. And if you look around it didn’t take long for a few others to wake up and see that’s where they need to head also, IBM bought Red Hat, AVGO bought CA and then followed that up with Symantec. It’s not that they want a bit of both it’s that the real money will be in SaaS (software as a service) heck it already is. AMZN is a powerhouse from a lot of things but none of them would be that without AWS help, it’s the engine in their business machine.
I don’t really know another easy way to explain why that push is on except to say look at all of the connected to the cloud computing growth and how much has changed already and will continue to see explosive growth going forward. Those data centers aren’t trying to get bigger to fight over todays generated data, they’re making darn sure they get ready for many times more data generated coming, a great deal many times more. And all that generated data will need to be “handled” by software services.
Need a great example of that growing besides AMZN ? then look no farther then MSFT who woke up to AMZNs rocket ride up from their AWS offerings AND finally acted when someone with vision took over and started thinking about tomorrow instead of today.
I’m sure some of those others we just talked about sat up and took notice also and those moves they are making show you they did. Why would AVGO more or less a semi and hardware outfit all of a sudden switch gears and buy CA ? The days of being the hardware seller alone are dead end ones in a revenue sense and they know that too.
CSCO figured that out way back in late 2014-15, even John Chambers who grew them into the powerhouse they are and resisted the new CEO Robbins push away from hardware into SaaS at first eventually couldn’t ignore what was going on with some like AMZN and others, growth was already stagnant under him back then. The entire game was changing and if you want to stay in the game you change or they bench you pretty quick for not understanding the new rules.
Lets see what Hick Tan rolls up on next, my bet will be another one leaning that way not hardware.
Vince

3 Likes

Creo que este señor ha respondido a la pregunta de Vash ayer en el hilo de Cisco de forma extensa y acertada.

Esta frase me gusta especialmente:
The entire game was changing and if you want to stay in the game you change or they bench you pretty quick for not understanding the new rules

Gracias @waits.
Jeff es muy bueno en tecnología, pero escribe a veces unos latazos tremendos y cuesta filtrar la información cuando escribe.
Sigue defendiendo QCOM por su gran diversificación en productos y amplio espectro que abarca, a pesar que AAPL se supone intantará ser autosuficiente en unos años respecto a chips.
También habla mucho de GLW por su tecnología en cristales y relación con AAPL (de hecho, AAPL les ha dado 250 M para investigación).
Y por último, sobre la vapuleada CAH, que poco a poco parece que va remontando.

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Sobre TXN:

If you think the market they dominate in analog chips is going to stay in neutral then avoid them for now. I think it’s about to grow much bigger myself but exactly when remains to be seen. That market is very different then your INTC holding or my QCOM and while it’s hard to explain some of the things why they are others are easier.
They dominate in it largely because of a quality product for example in the automotive markets for that type of chip, and they’re are many already in vehicles and that’s only going to grow much bigger going forward whether it’s an ICE or BEV one the standards might be only one in a million is allowed to be bad and that usually means TXN is your supplier. They’re not going into a few hundred dollar device or even a few grand one then your talking 30 thousand dollar and up consumer products so they need to be quality. In addition since they have a much longer shelf life as a chip product designers are very hesitant to switch to another over a smaller price because the product redesign to use another will far outweigh any chip savings cost.
Are you noticing all of the smart home products popping up now ? analog chips play a big role there also as eyes and ears you might say keeping track of things like sounds, temperatures, weights etc and reporting in constantly. The ways they can be used alone give them a much bigger customer base already then others and that base is growing fast with the IOT age rolling out now. It’s one thing to capture say the computer or WIFI router chip market in a home, quite another to look around inside there and see a future market in almost every other thing in it like fridges, ranges, faucets, doorbells on and on and many of them are already here and increasing that analog chip market and many more are on their way, ones we aren’t even aware of yet.
TXN has said next quarter will be flat to down but after that I think going forward we will see them become less cyclical in nature myself for several years in a row. No idea if they’re fairly priced or over valued which seems to be the general view which imho is a short time one only. So no advice from me about a SP except I do think say five years from now they will still have an impressive investment record behind them. There really isn’t many things those chips won’t be used in one day. As I mentioned before did you ever think you could talk to your kitchen faucet ? yet it’s here now anyways. It’s going to be an amazing decade imho, hope I get to stick around for all of it.
Vince

3 Likes

Disculpad el tremendo tocho en inglés que va a continuación.
Le preguntan sobre su cartera y aquí la expone.

“My portfolio is not posted here I use TDA as a broker and SSD for a view of it and will gladly say what ones are bigger positions for me but won’t get into much more then that. In fact it was Miguel who had me think a bit more about what I post and stop some of what I used to do here and in other places some of us regulars have traveled through over the years on S.A.
I used to say I bought 25 or 50 of this or that and he correctly pointed out adding a number to the symbol meant nothing really, it was the symbol add alone and supporting reasons for doing so that mattered, he was right.
We have on occasion still to much of a childish “size” contest going on here if you know what I mean. Hard to stop things like that in an open forum but I don’t intend to fuel it either.
I’m some what from what I gather like Ron again in the sense that I have some oversized positions and others that are small and will more then likely stay that way. Back in 2013 I started out with well over 60 holdings and now have 37 I more or less consider holdings I want to grow along with a few that were bought simply to trade at some point or are what you might call ongoing experiments for me like PLOW for a future trade with nice cap gains in it and PTY which has been more like an experiment for me. And I might be heading maybenot’s way of even less as the next few years play out.
I’m a strong believer of letting my winners run and adding more to them when I can. Per SSD utilities are still a big sector for me followed by information technology, consumer staples, and healthcare. I hold no industrial sector positions in size anymore and the last two I did were CAT and GE. I do have a small position in DOW now and would like it to get bigger. My telecom sector consists of only two VZ and T both in size with T being the larger one but I may be bringing VZ up more soon. I like what they’re up to and think some of it is flying under the radar at the moment with short sighted vision.
SSD says my portfolio remains a well diversified one even absent a sector.
AS for positions of size in relation to my holdings I think I have made myself clear about a few things and one thing is I consider a few of my technology listed ones as industrial business sector holdings now days anyways like CSCO. It’s why I always ask what company around now doesn’t have some sort of dependence on technology to be in business ? none I know of. It’s not that I think this time it’s different at all, in fact just as before time and again what matters is what you hold in a sector not the sector itself.
Per SSD information technology is a big sector holding for me with AAPL BMI CSCO GLW PAYX QCOM all of which except AAPL are both very old holdings in comparison to some comments made here and larger too simply from time held and being conviction investments that I added to when I could while others ran away. It would no doubt be my biggest sector by far value wise and income producing if I had simply kept my MSFT position, that’s a mistake I won’t make twice.
As for utilities I hold in size AEP BEP D PEGI WEC WTR and some PPL still maybe a third in size of the others. And WTR is smaller also but I would like more of them. Left a very old NGG position and used it to grow those others including WTR. Now it seems PEGI will be taken away from me and while I’m not happy about that I intend to place the funds in BIPC when it arrives. I think Brookfield is great management is why, BEP showed me that. I have nice cap gains in them all including the newest one WTR which took off on me before I could make it bigger but have no intentions of doing anything but leaving them alone. I bought them to play a certain role in my dividend growth income investments and they are doing just that.
In consumer staples I own HRL KO MO PM and one that used to be there as a cigarette paper maker SWM but is considered a specialty materials supplier now. They have restructured a large part of their business and pushed hard into various other filtering products, many are water related ones a wise move on their part and so I still hold them in size.
In health care I have ABBV CAH SYK both CAH and SYK are older holdings. Mike N suggested I look at ABBV back in time and I liked what I saw. I have held some others along the way like BMY but that’s it for me now days.
In financials I have BNS ORI and ORI remains my oldest dividend paying holding and an oversized position for me and will be as long as I have any say in my portfolio. IZZ would more then likely call them a slug but it’s a huge dependable as heck slug for me so it stays oversized for me. The last two years in a row they have given me a special and special certainly was the right word to describe it :slight_smile:
In consumer discretionary DNKN CBRL TJX and TJX is the larger position by far. They were one I jumped on hard right after the two for one split around one year ago and the herd was stampeding. No plans to add more choices to this sector and think it’s already bigger then it seems with some like AAPL and QCOM involved with consumer discretionary choices also in one way or another. Another good example, imho anyways of how trying to pigeonhole something into a technology sector holding alone is a mistake now days. Reminds me of the recent energy/utilty relationship thread and your actual energy exposure.
In energy I hold KMI MPC RDS.B XOM if I don’t like how MPC looks split up they will become more of the other three. It’s my view that big oil is here to stay longer then some think and remains nothing more then a cyclical commodity. I also happen to think it’s a sector that has way to much noise attached to it at times and so do my best to ignore it. I also remain convinced NG/LNG will play a role going forward the rest of my lifetime.
For real estate I own NNN O WPC all in size and IRM and I plan to give IRM time to grow their data center business. If my view on that changes I will have no problems at all of turning it immediately into more of those other three.
Most of this comment was done simply from memory and when you hold something for a long time that becomes easier to do and your knowledge of how the company works grows with time held also. I’m not judging how others manage their holdings just saying what I do. My personal goals have been made clear for a long time here now some of the older regulars know and it was to have our dividend growth investments act like a safety blanket to our other incomes. We have now easily surpassed the goals of doing that and I have chowder to thank for that along with many others here, to many to list.
We have five legs on our income stool now days and you can take two away and still sit on it comfortably. I hard a rough time of it in the Cater years and aftermath as a younger family man and staying well ahead of inflation was part of my goal. And now days three of those legs grow stronger still with COLAs and another our dividend growth investments have grown much faster then inflation since I retired also. My pension the smaller of our two ends when I do but if needed our dividend growth investments can more then replace that income and that growth continues YOY.
I also still own around a dozen or so investments in my taxable account where I still trade at times. For now I intend to use transfer in kinds to it as a way to deal with RMDs when they arrive.
I would add again that I’m in no way saying load up on technology stocks with some of my comments. I’m just trying to explain what I feel may be going on now days nothing more then that. And my investing goals are just that mine, something that gets forgotten here now and then. SQ just made a terrific comment about that very thing imho.
Vince”

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@luisg me gustaría seguirle, puedes poner un enlace a sus post?
Gracias.

https://seekingalpha.com/user/19865501/comments

Ojo que mete tremendos monólogos.
A veces hay que escarbar mucho para sacar la información.

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THKS.
Sin embargo su intro es breve (y me gusta): Long stocks, nuff said.

Acerca de la transformación BIP y BEP así como la emisión de acciones tipo C (compañías). Esto según el va a favorecer que entre mucho dinero institucional dentro e infle el precio.

“My views still the same and what they are up to will allow those newer C corp ones to be invested in by some of the really big institutional money flows that otherwise either can’t or are reluctant to invest in them as an LP, for instance add them to an index and watch them go up.
I wasn’t interested in the BPY one that was offered as a REIT, not knocking it just no interest in another REIT. And both you and I will be involved in the newer BEP to BEPC split.
The one I have a strong interest in is BIP to BIPC and it’s because BrookField is very good at recycling older appreciated hard assets into newer ones, wash rinse repeat and they own some great ones already. When I look at them hard I always come back to chowders view of utility consolidation going forward something I agreed with way back then and still do. That arm of BrookField covers several utility services in one way or another from as old as it gets to brand new ones. I like that they aren’t as reliant on the capital markets for funding also, cheap money has been fueling things a long time now but sooner or later the tide will turn. And we certainly will see who has been swimming naked then :slight_smile:
[…]
Some things may be a bit clearer by then and my view may change from that but I intend to have my plan ready to go to work. It’s largely becasue I do think they’re might only be a small window in time before some of that bigger institutional money makes an appearance in some of those C corp structured offerings”

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