This Watch List Update will be issued weekly. These results from this past week focus more on closed end funds than other issues. This will also be the focus on a “go-forward” basis.
Hindsight can be 20/20, foresight not so much.
I can’t always hit them, but these are my targets.
My expectations have changed. My new expectations for the #HYHRD (High Yield High Return Dividend) Portfolio:
I target a minimal annual return on price and NAV (both `10%?) and a minimum 5% dividend yield for income.
I am hitting some of my targets.
I’m Pat Rosenheim, a.k.a. the PandA Trader.
What follows is one of my methods to screen for possible investments, and the one I currently use;
In a previous post, I outlined a method to screen for and select new additions to the portfolio.
I modified the procedure slightly since that post, but it is generally the same screen.
I used a similar process when I first started investing in CEFs last year.
Each week, I will;
- run (102216) screener @ cefconnect.com
- criteria used
- run each symbol obtained through perfcharts on stockcharts.com
- maximum of 10 symbols allowed so discretionary ommission is performed
- if performance is over 20%, then symbols will generally be retained
- the final pass will remove all but the top 3 performers
- add current holdings 1 by 1, keeping only those scoring at or above the new symbols retained thus far
- again, a maximum of 10 symbols allowed so same discretionary ommission is necessary
- restated; trim as necessary to only include 3 new symbols with any current holdings “passing muster”
- today’s result (FIF, HYB, TLI) is graphed with some current holdings performing >= new symbols;
- List the “final list” in the title of this post
- Optionally, run this final list through Chartmill
I also like to run this list through the CandleGlance tool on stockcharts’ website; http://stockcharts.com/freecharts/candleglance.html?FIF,HYB,TLI,BGH,DHY,GOF,IVH|D|A12,26,9|
I think the 1 year view gives a very good visual representation of past performance and some insight into future direction. The % P&F is my favorite optimist tool.
I’ll leave you with a screenshot of a 1 year chart of TLI (apologies for the fullscreen 1920 x 1080 resolution):
As always, YMMV!