Monday, July 12, 2010

52 Week And All Time Highs

The path to a security's 52 week or all time high isn't always pretty. But who cares? In today's market I feel fortunate to have noticed that several of my holdings are at or very near all time highs.

None of the three, DEP, EPD, CCW, are traditional stocks. The first two are Master Limited Partnerships in the gas services industry and CCW is a "baby bond", often referred to, incorrectly, as a preferred stock of Comcast, the huge cable television operator. The common thread is steady income to the investor.

All three have distributions/yields of approximately 7 percent and, as interest rates have been decreasing, have gained value. All have good underlying fundamentals, but are no longer cheap. The old saying is "every day that I don't sell I'm a buyer" applys here. I still own them so I must think they are a reasonable place to keep money parked.

It's fun to have a few securities that are hitting new highs.

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