Mr. GIC $75,000 and counting

[selkirk]

updated to the end of June 30,2004, dividends = $642.19 from April to June. the number is slightly lower since income trusts .un were already calculated for April.

dividends
SMu.un $51, mfc $63,bte.un $120, BFC.un $42.50,rei.un $100,d.un $146.4, cm $120.

wrote TEK.b $22 nov put took the lowest price for record puposes. the stock is just trading over $24.

looks like will lose MFC for $47.50, and may have BCE put to me, currently $1 dollar below strike.

will put an order in for 500 IUR.un at $10.25. the reit is in the US trades on Toronto yields over 9% and should have growing distributions. also trades below NAV... rare in todays market. also gives a cdn. portfolio exposure to US $ as all of the income is in American dollars. note: own a positon in the reit at $10.15. expecting a 9%+ return.

thanks
selkirk


update June 24, 2004
Start date April 16, 2002 $50,000

Portfolio

Saxon small cap $5000 invested to buy 304.536 units.
$21.119X 316.68 = $6687.96

Saxon World Growth Fund 293.39X 17.19= $5031.63
BNS Dividend Fund 110.3387 X $27.23 = $3023.39

Summit Reit (smu.un) 200 shares (purchase price $14.98/yield 10%)divs=$1275
$16.48X200= $3296

TD $42.50P July 3 contracts $1.15/$1.30 $345 credit

Manulife Financial 300 shares ($45.95) divs= $308
$47.50X300=$14250

Manulife MFC July $47.50 Calls 3 contracts $.60 $180 credit

Manulife MFC Oct $47.50 Puts 2 contracts $1.50 $300 credit

400 BTE.un $12.10X400 = $4840

200 BFI Canada Income Fund BFC.un$10.97 divs= $881.12 $19.08X200= $3816

500 Riocan REI.un $15.75 X500 = $7875

Dundee Reit D.un divs = $219.99
400 shares X $22.51= $9004

BCE 2 P contracts August $28 ($1.70/$1.80)

CIBC $67.00X 200 shares =$ 13,400

CIBC 2 July $72.50 calls $1.10/$1.35 $220 credit

SLF July $34 P 3 contracts
TLM Sept $75 P 1 contract $1.90
FL Oct. $30P 2 contracts $1.90/$2.10 $380 credit
Nov $22 TEK.b P 3 contracts $270 credit.
cash = $4294.18

Total portfolio value= $75620.16

 

[selkirk]

IUR.un hit $10.25 currently $10.30, so own 500 shares.

thanks
selkirk

 

[selkirk]

the CM July expires this friday, so will write another one. CM is trading around $64, will write Jan $70 call for .75. current bid is .65/.90, so the stock has to go up but the bid will probably hit .75 today or tomorrow.

will sell IUR.un at $10.50 if it hits that price. if not will keep it and collect the dividend.

thanks
selkirk

 

[selkirk]

note will write another 3 puts, on TD, but will wait until this Friday when they expire. TD trading over $43.50 cdn.

thanks
selkirk

 

[selkirk]

TD July puts, SLF July puts, CM July calls, all expired worthless.

MFC calls were excercised at $47.50 was trading at $51, some you lose. still made a nice gain on MFC and have some puts out on the stock that look good.

wrote 2 Jan $42.50 for $320 credit, BCE Jan $27.50 $140 credit since the August will be put to me. also CM Jan $70 call for $140 credit.

all money went to cash to much cash but will wait until after August.

thanks
selkirk


update July 20, 2004
Start date April 16, 2002 $50,000

Portfolio

Saxon small cap $5000 invested to buy 304.536 units.
$21.119X 316.68 = $6687.96

Saxon World Growth Fund 293.39X 17.19= $5031.63
BNS Dividend Fund 110.3387 X $27.23 = $3023.39

Summit Reit (smu.un) 200 shares (purchase price $14.98/yield 10%)divs=$1275
$16.48X200= $3296

TD Jan 2 puts $42.50 $1.60/$1.75 $320credit

Manulife MFC Oct $47.50 Puts 2 contracts $1.50 $300 credit

400 BTE.un $12.10X400 = $4840

200 BFI Canada Income Fund BFC.un$10.97 divs= $881.12 $19.08X200= $3816

500 Riocan REI.un $15.75 X500 = $7875

Dundee Reit D.un divs = $219.99
400 shares X $22.51= $9004

500 IUR.un $10.25 $5125

BCE 2 P contracts August $28 ($1.70/$1.80)
BCE $27.50 Jan 2 calls .70/.80 $140 credit

CIBC $67.00X 200 shares =$ 13,400

CIBC 2 Jan $70 calls $.70 $140 credit

TLM Sept $75 P 1 contract $1.90
FL Oct. $30P 2 contracts $1.90/$2.10 $380 credit
Nov $22 TEK.b P 3 contracts $270 credit.

cash = $14019.18

Total portfolio value= $75620.16

 

[selkirk]

IUR.un traded at $10.50 today, however keeping the stock...why because it yields 9% and trading below NAV.

however main reason is that I have over $14,000 cash with the sale of MFC, so will look to buy not sell and reduce the cash position.

thanks
selkirk

 

[bosco]

Hey Selkirk,

I got your e-mail from MJ, but it doesn't seem to work.

I had a question about T.IUR.UN.

I've been unable to find a good way to research this. I have done google searches, and the ticker won?t even bring up data in Ameritrade or Etrade.

Do you have a good website to research them? I'm looking to stash some cash for about 12-14 months, and it looks like this REIT is damn stable.

You also mentioned a 9% yield. This link does not confirm that. http://host.businessweek.com/businessweek/Corporate_Snapshot.html?Button=Get+Report&Symbol=T.IUR.UN

Anyhow, if you knew of a website that I can research them, I'd appreciate it.

Also, if you know of any other stable, high-yielding opportunities for a short-term investment, I'd love to hear your insight.

Thanks in advance!

bosco

 

[selkirk]

Greetings Bosco

had to change my email was getting 100 spam a day, sometimes 200. that was not that bad but sometimes would kill a none spam email. and a few started to have viruses.

it was my fault, I did a few articles for a small cdn. financial website and like an idiot put my email account. there are programs that grab email addresses and use them for spam....over my head.
will forward a new email to jack. or will get a yahoo, or google email and list it here. I will post it when I get it all set up. check this site ussually every day or every second day.

as for your question the stock is listed on Toronto Cdn. do not believe it is in the states.

http://investdb.theglobeandmail.com/invest/investSQL/gx.symbol_rep?pi_symblist=iur.un

hope that the link works trading at $10.20.


thanks
selkirk

 

[selkirk]

here are some trusts I own, will look as some trade in the US. do not own any US income trusts at this time. In cdn. income trusts have grown mainly because some large caps have blown up, and interest rates have gone down also most of these have done well.

will fill in more details.

Riocan REI.un own shopping malls, largest owner in cdn. great operators and properties. yields 8% plus own some in a DRIP that give you a 3% discount when you reinvest the div.

TIL.un they sell nails and wire in western cdn. and the US, the trust got beat up on tax concerns IRS, so bought some at just under $11. now around $12.90 yield over 9%. great numbers. the fun ends when the housing boom ends........when is that...until then I hold.

An.un over 9% large reit with most interests in Montreal. Like the economy in Quebec and well run.

BTE.un, AE.un, ARC.un, oil trusts yield over 11% to 15%, used to yield 18%. the prices keep going higher. have sold off some of my oil trusts but are keeping position in these.

CLR.un CSS.un CLR.un sell seafood/shellfish all over the world and yields over 10% has gone down recently. there is an american company that yields over 11% will look into it, is listed in the US.

CSS.un over 10% is a well run small trucking company, higher risk but like mangement.

D.un Dundee reit owned them before they went reit, still like them.

DR.un bought at below $10 has done well trades over $11.50cdn. they own operating rooms and rent them to docters. so if you get ill and require surgery in the mid states you might be helping the trust.

have sold summit, even though most brokerage reports are positive, will replace in the MR GIC with another trust. maybe Boston pizza if I can get it for $12.80 now at $13.20cdn.

I know buying a restaurant for stable cash flow may be dumb however they have risen their distributions 4 times.....good enough for me..... by the way they are slowly expanding in the states. and eastern canada.

the trust only deals with Cdn. properites.

I treat these income trusts as if they were equities. not bonds. higher risk, and yield than bonds.


thanks
selkirk

 

[bosco]

Thanks for getting back to me and for the great info selkirk

 

[selkirk]

buy 500 CLC.un X $10.70= $5350

this will help to reduce the cash position will sell summit soon, CLC.un is coming out with their numbers this week, so hopefully they are good. yields 9%.

have bought this for $10.55-$10.70. should have bce put to me so cash will be reduced further. trade looks fine though as BCE is trading above $27 and got $1.70 for the put.

cash= $8669.08

 

[selkirk]

BCE was put to me the $28 put, BCE is trading around $27.50 cdn. so it is not a bad trade. got $1.70 for the put plus .70 for the call, plus will get .60 in dividends for the rest of the year.

cash is down below $4000. will sell SMU.un in the coming weeks, have enough income trusts and enough real estate trusts, IUR.un, Rei.un,D.un. will get rid of the one that I have a small position. it has done well but will list reasons why chose to sell this one; in the next update.

Toronto market has been flat to down this year, but hope to have the portfolio at $80,000 by new years..end of sept./early oct. will write more options.

options currently outstanding are all out of the money.

thanks
selkirk



update July 20, 2004
Start date April 16, 2002 $50,000

Portfolio

Saxon small cap $5000 invested to buy 304.536 units.
$21.119X 316.68 = $6687.96

Saxon World Growth Fund 293.39X 17.19= $5031.63
BNS Dividend Fund 110.3387 X $27.23 = $3023.39

Summit Reit (smu.un) 200 shares (purchase price $14.98/yield 10%)divs=$1275
$16.48X200= $3296

TD Jan 2 puts $42.50 $1.60/$1.75 $320credit

Manulife MFC Oct $47.50 Puts 2 contracts $1.50 $300 credit

400 BTE.un $12.10X400 = $4840

200 BFI Canada Income Fund BFC.un$10.97 divs= $881.12 $19.08X200= $3816

500 Riocan REI.un $15.75 X500 = $7875

Dundee Reit D.un divs = $219.99
400 shares X $22.51= $9004

500 IUR.un $10.25 $5125

200 BCE $28X200= $5600

BCE $27.50 Jan 2 calls .70/.80 $140 credit

CIBC $67.00X 200 shares =$ 13,400

CIBC 2 Jan $70 calls $.70 $140 credit

TLM Sept $75 P 1 contract $1.90
FL Oct. $30P 2 contracts $1.90/$2.10 $380 credit
Nov $22 TEK.b P 3 contracts $270 credit.

cash = $3069.08

Total portfolio value= $75620.16

 

[selkirk]

hope everyone has a great long weekend. will relax and go to the fall fair, been around for 90 or 93 years. does not change much, maybe that is why people like it..... just a chance for friends and family to meet.

anyways TLM $75 sept. put looks to expire worthless. TLM split 3-1 so the put is for $25. the stock is currently at $30.

will write 3 puts for march at $26cdn. ($1/$1.20) for credit of $300.
basically this option just means I am on the hook for buying TLM at $26cdn. until the third friday in March for $26. If it is above the $26 the option expires worthles.

if not I will have to pay $26 for tailsman. which is a decent oil company to hold. watch oil falls to $35. LOL

thanks
selkirk



update sept. 3, 2004
Start date April 16, 2002 $50,000

Portfolio

Saxon small cap $5000 invested to buy 304.536 units.
$21.119X 316.68 = $6687.96

Saxon World Growth Fund 293.39X 17.19= $5031.63
BNS Dividend Fund 110.3387 X $27.23 = $3023.39

Summit Reit (smu.un) 200 shares (purchase price $14.98/yield 10%)divs=$1275
$16.48X200= $3296

TD Jan 2 puts $42.50 $1.60/$1.75 $320credit

Manulife MFC Oct $47.50 Puts 2 contracts $1.50 $300 credit

400 BTE.un $12.10X400 = $4840

200 BFI Canada Income Fund BFC.un$10.97 divs= $881.12 $19.08X200= $3816

500 Riocan REI.un $15.75 X500 = $7875

Dundee Reit D.un divs = $219.99
400 shares X $22.51= $9004

500 IUR.un $10.25 $5125

200 BCE $28X200= $5600

BCE $27.50 Jan 2 calls .70/.80 $140 credit

CIBC $67.00X 200 shares =$ 13,400

CIBC 2 Jan $70 calls $.70 $140 credit

TLM March $26 3 P contracts $1/$1.20
TLM Sept $75 P 1 contract $1.90
FL Oct. $30P 2 contracts $1.90/$2.10 $380 credit
Nov $22 TEK.b P 3 contracts $270 credit.

cash = $3369.08

Total portfolio value= $75620.16