| BondsOnline Advisor – October, 2011
By Stephen Taub
NEW in BondsOnline.com: – in depth credit rating analysis for Municipal bonds and energy sector corporate bonds. Ratings back to 2008: a must-have tool for income investors. FREE!
The BondsOnline Advisor strives to present you with income investment insights from analysts throughout the United States. Bonds, preferred stocks, real estate investment trusts, or master limited partnerships can be a part of a successful income portfolio – and BondsOnline and PreferredsOnline provide the “Income Investor Tools” to keep you informed.
Equity Strategies
Are stocks cheap or bracing for further losses as the economy heads into recession?
JPMorgan Chase recently told clients valuations are approaching March 2009 levels, when the markets took off on an astounding upward ride. However, the bank warns there is still significant event risk from Europe. The bank created a list it calls its 40 Best Near-Term Stock Ideas over the next three months that are currently yielding at least 3%.
Wells Fargo Advisors says “investors only appear willing to pay 36% of what they were willing to pay for a dollar of earnings in early 2001.” Yet, earnings are 74% higher than they were at their mid-2001 peak.
Credit Suisse is fairly bearish; Deutsche Bank believes stocks are cheap, suggesting buying high quality, underperforming stocks that are trading near their five-year trough multiples.
Bank of America Merrill Lynch says foreign exposed stocks valuations are getting stretched versus their domestic counterparts.
Master Limited Partnerships
Citi still likes two MLPs, Barclays likes two. The expected total returns on each of these approaches 20%+, based on target prices.
REITs
Mortgage REITs get a good look by Credit Suisse this month in Yield and Income Newsletter
Closed-End Funds
Stifel Nicolaus looks at five leveraged equity funds, and six taxable fixed income funds for above average risk tolerance portfolios.
Fixed Income & Preferreds
BofA Merrill Lynch says consider high-quality dividend paying stocks (Yes, this is fixed income advice). With bond yields near historic lows, and the stock market struggling, stock dividends are high in relation to bond yields.
We will publish more regarding the latest bank trust preferreds thinking, in as separate report for PreferredsOnline subscribers.
For a list of securities, target prices, and detailed comments, get the current issue of Yield and Income Newsletter through PreferredsOnline.
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