Sold My Entire MAA Position

I sold out of MAA for $72.47. This was a legacy position from a CLP position I had that got acquired.

I’ll figure out what the percent gains were later (I need to check from CLP through the transfer, to the sales price of MAA).

I’m retaining AEC.

Uranium Prices May Have Finally Bottomed

I know, I’m sorry for the tap out title on this piece. It is spineless and cowardly. But I’ve gotten my hopes up enough times now, just to watch uranium prices breach new lows, that I will not tag along again.

It does appear, based on the very thinly traded reporting I have access to, that pricing for uranium fuel has increased dramatically in the past few weeks from around $28 per pound, to around $32 per pound.

This is of course nowhere near the $50 level it was at just a few short years ago. However, steps are to be taken incrementally. I want to see this hold up, then wait and see some more.

CCJ remains my only uranium play; I made a short trade in UEC for a wash earlier this year and decided the time was not right for the small miners.

My earliest prediction following the Fukushima Daiichi meltdown was that, if a V shape recovery could not quickly follow the price deflation, then at or around the three year anniversary would mark the recovery in nuclear fuel investments.

So far this year, those hopes have not been met. But there is still time; a few months later is not much off, and I could live with a year or two even…provided the rewards are rich enough.

The March Of War

Timidity begets aggression.

There are two primary takeaways over this weekend.

The first takeaway is, everything you have ever been told about empathy and compassion leading to a more peaceful world is a complete crock of shit. Six years into this nonsense, if anyone following this code still believes in it, do us all a favor and off yourself.

At this stage, we aren’t even “uninvolved”; but our prior actions were so discrediting, it’s going to take a discontinuous push to shock people back into order. The cost to us, whether we embrace the challenge or give up, will be great either way.

I can appreciate the desire to keep US lives out of harms way, but on the other side, those few thousand volunteers who tragically lost their lives were keeping at bay something much worse. They were heroes and deserve the designation.

And past the immediate body count, tell me: what do you suppose the long term cost will be to having such an important piece on the board like NATO getting publicly emasculated in front of an audience of seven billion people?

What do you suppose the cost to peace will be when no one is left who trusts NATO’s guarantee of defense to allies and members? Russia is targeting this covenant on purpose.

The second takeaway is, despite the USA cutting our own balls off, people are still very afraid of us. Why else would so many plans be put into motion in the middle of a US holiday weekend, when our citizens are distracted? US public opinion can still turn the tide, but only if we can shake this internal depression that has crippled us into a state of sloth.

Watching Russia casually declare that neighboring countries were never really countries at all, as they roll back the clock manually with tanks; I can’t help but worry about where this takes us. I very much do not want the USSR reincarnating itself – the Russians are dicks and deserve to be treated as such. I’ll treat them with respect when they craft a form of government not predicated on keeping an iron toed boot on their people’s throats.

Too many hardliner nationalists in Russia seem to feel it is their God given right to create terrifying empires that lay waste to entire continents; as if this is somehow a privilege for the rest of us.

The place that should be most up in arms about this – Europe – has so far more or less lain down and is waiting to be dominated. The Europeans have spent the past fifty or so years fattening up, condemning self-defense, dismantling their armies, building a state of submissiveness. They’ve put social concerns like personal health & safety or identity politics before national security, eroding their own identities in the process. Now, no one will be safe.

Before this is over, I won’t be surprised if all of Europe is faced with a terrible choice of throwing off the safety nets, or being ensnared by them. Re-militarizing will put a strain on state programs. It will be very hard and painful; rediscovering one’s spine.

The only bright light is that much of the damage here is reversible. Not that this is any comfort to you if you’re under the curtain. But the places causing the most trouble are also the least self-sufficient and most prone to terrible accidents. I have trouble seeing Putin succeed for very long; his country’s legacy was assembled from the willing, back when the ideal of communism was embraced by millions. It collapsed in disillusionment. He’s trying to reassemble the unwilling with violence. That is a sure recipe for rot.

But why should this be happening now at all? If not for the weakness of wannabe leaders, it wouldn’t be. They threw away a century of hard fought gains, for ridiculous, self-righteous reasons.

Sold Completely Out Of PSEC – 7% Loss (Update)

I completely sold out of Prospect Capital Corporation in a rather gay four day about-face. This four days resulted in a 7% loss on the position which, thankfully, only resulted in a .35% loss to my book.

PSEC is a remarkably cheap, very interesting possible play that I would like to remain only a possible play.

In the future, I may – and in fact most likely will – revisit this position. But the more and more I think about it, the more I do not want a leveraged financial play that has recently expanded leverage by about 40% and openly admits to yield hunting… anywhere near my book right now.

Fall is coming, you fools. And the dreaded seven year mark is upon us.

Beware the number 7.

Update: I also trimmed 15% off of my HCLP position, which is up 188% over the past year. Just a little F-U money in case a buying opportunity should present itself.

I followed that with “hedge trimming” sales of everything else.

Cash stands at 35%

The Melt Up Is Upon Us

There is no limit to the benevolence of my portfolio today. HCLP spurred out the gate and is now closing in on $70, +5.4% in the first half of today’s trading.

CCJ and BAS are second runners up. Most everything else is green, with only new half position PSEC and NRP breaking the pattern at the moment.

No one wants to hold short into the Labor Day weekend. Bears have been conditioned over the past five years that long weekends deal death to misers.

My account is up +2.3% today. I’m tempted to take a few sales at lunch, just to prepare for September (the biggest dick of all the months).

The world is my tainted oyster (which is only an odd statement if you knew that I don’t like oysters). Now, as you were.

ETP Receives Vote of Supreme Confidence

Energy Transfer Partners has an outstanding offer of merger/acquisition with Susser Holdings Corporation. The good shareholders of Susser were each given voting opportunity to elect their method of being bought out. They could receive a) an all cash offer, b) a mixture of cash and ETP shares, or c) all ETP shares. The results were published yesterday upon closure of the window.

85% of all outstanding shareholders said “give me the ETP stock”.

That’s not even a contest. Only 1% of Susser’s shareholders took the cash buyout offer. 7% took the mixed bag. How’s that for a vote of confidence?

Obviously I had hoped more would get bought out – because I expect good things here. But still, I can’t blame them for refusing to leave.

Sold My Entire MAA Position

I sold out of MAA for $72.47. This was a legacy position from a CLP position I had that got acquired.

I’ll figure out what the percent gains were later (I need to check from CLP through the transfer, to the sales price of MAA).

I’m retaining AEC.

Uranium Prices May Have Finally Bottomed

I know, I’m sorry for the tap out title on this piece. It is spineless and cowardly. But I’ve gotten my hopes up enough times now, just to watch uranium prices breach new lows, that I will not tag along again.

It does appear, based on the very thinly traded reporting I have access to, that pricing for uranium fuel has increased dramatically in the past few weeks from around $28 per pound, to around $32 per pound.

This is of course nowhere near the $50 level it was at just a few short years ago. However, steps are to be taken incrementally. I want to see this hold up, then wait and see some more.

CCJ remains my only uranium play; I made a short trade in UEC for a wash earlier this year and decided the time was not right for the small miners.

My earliest prediction following the Fukushima Daiichi meltdown was that, if a V shape recovery could not quickly follow the price deflation, then at or around the three year anniversary would mark the recovery in nuclear fuel investments.

So far this year, those hopes have not been met. But there is still time; a few months later is not much off, and I could live with a year or two even…provided the rewards are rich enough.

The March Of War

Timidity begets aggression.

There are two primary takeaways over this weekend.

The first takeaway is, everything you have ever been told about empathy and compassion leading to a more peaceful world is a complete crock of shit. Six years into this nonsense, if anyone following this code still believes in it, do us all a favor and off yourself.

At this stage, we aren’t even “uninvolved”; but our prior actions were so discrediting, it’s going to take a discontinuous push to shock people back into order. The cost to us, whether we embrace the challenge or give up, will be great either way.

I can appreciate the desire to keep US lives out of harms way, but on the other side, those few thousand volunteers who tragically lost their lives were keeping at bay something much worse. They were heroes and deserve the designation.

And past the immediate body count, tell me: what do you suppose the long term cost will be to having such an important piece on the board like NATO getting publicly emasculated in front of an audience of seven billion people?

What do you suppose the cost to peace will be when no one is left who trusts NATO’s guarantee of defense to allies and members? Russia is targeting this covenant on purpose.

The second takeaway is, despite the USA cutting our own balls off, people are still very afraid of us. Why else would so many plans be put into motion in the middle of a US holiday weekend, when our citizens are distracted? US public opinion can still turn the tide, but only if we can shake this internal depression that has crippled us into a state of sloth.

Watching Russia casually declare that neighboring countries were never really countries at all, as they roll back the clock manually with tanks; I can’t help but worry about where this takes us. I very much do not want the USSR reincarnating itself – the Russians are dicks and deserve to be treated as such. I’ll treat them with respect when they craft a form of government not predicated on keeping an iron toed boot on their people’s throats.

Too many hardliner nationalists in Russia seem to feel it is their God given right to create terrifying empires that lay waste to entire continents; as if this is somehow a privilege for the rest of us.

The place that should be most up in arms about this – Europe – has so far more or less lain down and is waiting to be dominated. The Europeans have spent the past fifty or so years fattening up, condemning self-defense, dismantling their armies, building a state of submissiveness. They’ve put social concerns like personal health & safety or identity politics before national security, eroding their own identities in the process. Now, no one will be safe.

Before this is over, I won’t be surprised if all of Europe is faced with a terrible choice of throwing off the safety nets, or being ensnared by them. Re-militarizing will put a strain on state programs. It will be very hard and painful; rediscovering one’s spine.

The only bright light is that much of the damage here is reversible. Not that this is any comfort to you if you’re under the curtain. But the places causing the most trouble are also the least self-sufficient and most prone to terrible accidents. I have trouble seeing Putin succeed for very long; his country’s legacy was assembled from the willing, back when the ideal of communism was embraced by millions. It collapsed in disillusionment. He’s trying to reassemble the unwilling with violence. That is a sure recipe for rot.

But why should this be happening now at all? If not for the weakness of wannabe leaders, it wouldn’t be. They threw away a century of hard fought gains, for ridiculous, self-righteous reasons.

Sold Completely Out Of PSEC – 7% Loss (Update)

I completely sold out of Prospect Capital Corporation in a rather gay four day about-face. This four days resulted in a 7% loss on the position which, thankfully, only resulted in a .35% loss to my book.

PSEC is a remarkably cheap, very interesting possible play that I would like to remain only a possible play.

In the future, I may – and in fact most likely will – revisit this position. But the more and more I think about it, the more I do not want a leveraged financial play that has recently expanded leverage by about 40% and openly admits to yield hunting… anywhere near my book right now.

Fall is coming, you fools. And the dreaded seven year mark is upon us.

Beware the number 7.

Update: I also trimmed 15% off of my HCLP position, which is up 188% over the past year. Just a little F-U money in case a buying opportunity should present itself.

I followed that with “hedge trimming” sales of everything else.

Cash stands at 35%

The Melt Up Is Upon Us

There is no limit to the benevolence of my portfolio today. HCLP spurred out the gate and is now closing in on $70, +5.4% in the first half of today’s trading.

CCJ and BAS are second runners up. Most everything else is green, with only new half position PSEC and NRP breaking the pattern at the moment.

No one wants to hold short into the Labor Day weekend. Bears have been conditioned over the past five years that long weekends deal death to misers.

My account is up +2.3% today. I’m tempted to take a few sales at lunch, just to prepare for September (the biggest dick of all the months).

The world is my tainted oyster (which is only an odd statement if you knew that I don’t like oysters). Now, as you were.

ETP Receives Vote of Supreme Confidence

Energy Transfer Partners has an outstanding offer of merger/acquisition with Susser Holdings Corporation. The good shareholders of Susser were each given voting opportunity to elect their method of being bought out. They could receive a) an all cash offer, b) a mixture of cash and ETP shares, or c) all ETP shares. The results were published yesterday upon closure of the window.

85% of all outstanding shareholders said “give me the ETP stock”.

That’s not even a contest. Only 1% of Susser’s shareholders took the cash buyout offer. 7% took the mixed bag. How’s that for a vote of confidence?

Obviously I had hoped more would get bought out – because I expect good things here. But still, I can’t blame them for refusing to leave.