Live From the Desk

Live From the Desk 5

Enhanced Income Fund Update These days, the latest thing with kids is gummy vitamins (officially called nutraceuticals). For anyone who has had trouble getting kids to eat vitamins, they are (dare I say it) a lifesaver! One of the largest nutraceutical manufacturers in North America is Harmony Foods (conducting business under the brand name Santa …

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Live From the Desk 4

Position Update (M&A) The TMX Group announced today that its merger with the London Stock Exchange (LSE) was terminated, as it was clear that the two-thirds vote threshold required to approve the merger would not be met. As a reminder, LSE was offering an all-stock deal (with a value-neutral, special dividend to both sets of …

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Live From the Desk 3

Enhanced Income Fund Update We get a lot of questions surrounding the covered call strategy we use in the Enhanced Income Fund. Here are answers to some of the most common questions: What do we look for? We screen North American stocks looking for securities with the following criteria: high dividend payout, decent volatility and …

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Live From the Desk 2

Enhanced Income Fund Update A hodgepodge of information this morning with a few fund updates: Continuing with our thesis of owning short-dated, refinance candidate bonds, we were pleased last Thursday to see Fibrek call their remaining 7% convertible bonds outstanding. We recently performed a site visit to one of our bonds maturing in 2012 in …

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Live From the Desk 1

Enhanced Income Fund Update We bought an interesting security this week. An insurance company (I won’t tell you which one b/c we are probably buying more) floating-rate hybrid security that floats the US 10 year treasury rate +10bps. This is a great hedge to rising rates in the rest of the portfolio. Even on it’s …

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