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11/30/21 Capitalist Times Investing Live Chat
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AvatarRoger Conrad
6:36
No problem. I like all three of the yieldcos as well as BEP, which is actually organized as a limited partnership though investors can buy it through the C-Corp shares under the BEPC symbol. I'm happy you were able to take advantage of them when they were unloved and trading at much lower prices. And I think all of them have upside left from asset expansion that leads to dividend growth.

The yieldcos came out quite hyped up early in the previous decade, sold as renewable energy analogues to then very popular MLPs. When MLPs fell out of favor, they did as well. We saw an opportunity when financially weak original sponsors like SunPower sold their controlling interests to stronger companies like Brookfield, Algonquin and the like. And since then, they've proven the business model and then some.

We're always on the lookout for similar opportunities. And I think the variable dividend oil and gas producers we highlighted earlier this month in EIA have a lot of the same appeal as yieldcos. But as I said,
AvatarRoger Conrad
6:37
we still like the yieldcos as well--and will particularly if current market selling extends to push them lower.
6:38
Thank you for your kind words about our work. Have a great holiday season and don't forget we'll have another live chat next month as well for our CT investment community.
Don R
6:44
Hi-  Very happy long time CUI customer and just signed up for the Reit sheet a couple weeks ago.  I see many of the reits are higher than buy up to points.   I am looking for growing dividends out of the group and have some fresh money.   Thoughts on GLPI, SLG, WPC with the recent drops or if I had to spread money around 3-5 of them now which would be best.    Thank you.
AvatarRoger Conrad
6:44
Hi Don. Thanks for your interest in the REIT Sheet. I have another full issue going out in December, which will include full analysis of recent results and guidance. And given what's going on in the market now, we could well also have a much larger pool of buy-rated REITs to choose from. My approach relies heavily on assessing business quality and value, and setting designated entry and exit points based on current stock prices' relation to that value. That means I always find a lot more to like in weaker markets (such as we had in 2020) than stronger ones, such as we've had up until recently.

GLPI (Gaming and Leisure Properties) and SLG (SL Green) are rightly considered exposed to a new round of coronavirus lockdowns, with WP Carey to a lesser extent. That's in my view is in large part why they've been weaker lately and have come down below my highest recommended entry points. I think they will sell off more if the overall market selling continues, so I don't think incremental investment is probably better
AvatarRoger Conrad
6:45
than one big go. But all of these are now selling below prices where I think they can deliver big gains the next 12 to 18 months, in addition to safe yields. And that's pretty much my bottom line for investing in them.
6:53
Ok. Well that's all we have for this month's webchat. Thanks to everyone who participated today, as well as those of you who weren't able to and are reading this transcript now.
6:55
If for some reason your question was not answered or you'd like more clarification about something, please don't hesitate to query us at service@capitalisttimes.com. We very much appreciate your business.
James
7:01
I currently have your Creating Wealth newsletter and have subscribed to your other newsletters in the past.  In one of the newsletters, I don't remember which one, there was a complete history of closed trades with dates of buy/sell and profit/loses.  May I suggest that you start doing this again for your newsletters so that it is easier to track the closed positions in case we miss one of the alerts or stop losses. Thanks.
AvatarRoger Conrad
7:01
Thanks for the suggestion James. At this time, we don't list closed positions in the pdf version of advisories. We do have them in the online version of Conrad's Utility Investor portfolios. I can't promise you we'll begin publishing a complete list elsewhere. But I can say we will try to do more to make sure everyone knows when there are portfolio changes, should you miss the first notification. Thanks again for participating today.
AvatarRoger Conrad
7:01
And so ends this chat. Have a great holiday season everyone. Elliott and I look forward to chatting with you again next month!
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