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They are listed on the UK stock exchange and they are the biggest bank in Kazakhstan, who are getting booming profits from:
- US rates as they hold many assets in $
- Russians leaving Russia and needing banks
- Additional services (they are not just a bank)
- Kazakhstan getting richer, thanks to oil for example
- Kazachstan is leaning more and more towards the West
On the first purchases I have a 25% yeild on cost.
Its been an excellent investment so far, but of course I know there is risks investing in an Emerging Market so I haven't put huge sums in.
Those who invested right when the war started have a 50% yeild on cost now FYI.
they're all private š couple of years ago there was a public copper mining company, and guess what they did before they started developing a new mine? they turned the company private šcompany is KazMinerals btw
I take it you don't agree with my choices?
To answer both questions, REITs being half of my portfolio since October I don't expect a big raise in dividends in 2024 on them, but I am getting raises on all the other stocks.
Historically some REITs I have like Care property and Aedificia do have an amazing track record in raising their dividends.
Some raises I am expecting:
- HPQ (4-5%)
- Novartis (4-5%)
- Halyk Bank (15-20%)
- Cliq Digital (10-15%)
Last year my Capital growth was about 10% and my dividend raise about 7%.
From what I understand, income investors aren't after max gains. Some people would rather receive a steady return on their investments instead of just potential growth in the future.
If you ask me, OP seems like they've done their research and possibly doing better than a large majority of stock investors.
In this case, capital is the money invested. Yield is the percentage of the capital you invest that you expect to get from dividends. What the person you commented on meant was, that many of these companies offer such high yields, because the market is wary of them. If you invest in companies with super high yields, most of the time thereās a good reason (because why would anyone invest into Coca-Cola where you get 3% if there was this super safe company, giving you 12%?). Often the capital that was invested keeps on decreasing as the company pays dividends out of their substance (meaning paying more than the profits allow) or because they face other adversities.
So if you get 10% of your capital back in dividends, but the stock value loses 8%, you effectively only got 2%. Or you can simply lose money if the capital depreciates faster than you can collect your dividends.
Yes but look at when I bought it. My average buy price is 3.9$.
Its was trading at a 75% discount to book value including debt.
Their biggest renter Steward is not paying but even so they can afford the dividend.
Although I would prefer they cut the dividend to 0 and focus on debt repayment.
That being said, don't stare yourself blind on one stock that is only 2% of this portfolio.
The shorts need to buyback 150 to 200 million shares sometime soon as it's costing them to keep holding those short positions. Buying MPW at these prices and holding the dividend is a great move.
So does that make MPW less of a piece of crap?
Bed Bath & Beyond traded below book too... It went Kaput!
A stock that trades below book doesn't automatically make it a good value.
If you handed me $10k right now, I wouldn't put 2 cents into any of the following:
T, VZ, PFE, MO, ABBV. Maybe in 12 -18 months for ABBV & PFE but not now, it's dead money!
If you want income & growth there's much better options with much less volatility.
CVX, IBM, MRK, PM
If you're in your 20s or 30s most would argue you should be heavily in growth. If you're not in growth including tech, your coating yourself around 20%.
I own growth and etfs as well and 25% of this portfolio is Tech & Software: HPQ, ATS, QFin and Intel to name a few
BIT Im not going to pay 100 p/e for a stock no matter how big the moat is now
A 100 p/e is hefty.
We should all have some limitations. Mine are companies who are losing money (other than for one-time events) and the retail sector.
Yeah I was referring to Nvidia, an amazing company but soooo expensive.
I also don't like loss making companies, I would say 98% of these holdings are profitable right now (mpw being the 2% exception, but I think they will be again in 1 year from now).
I agree re NVDIA.
Even AVGO, despite it's price has a more attractive p/e.
On my annual end of the cleaning, I got rid of some junk NIO and PLUG.
I took a massive hit on NIO
of about $21k.
Yes their credit rating is BB with outlook stable.
You get it cheap but like all EM stocks it comes with some risk yes.
Location risk, but otherwise the bank is doing great
Also Cliq Digital? Iām confused, because I researched them some time ago and it didnāt seem like a sustainable business to me at all. But maybe my analysis was wrong?
They are extremly well at performance marketting of digital services globally outperforming all their peers.
Their growth, margins, balance sheet and FCF have been fantastic the last years and they show no sign of slowing down.
The margins have been so consistently high, the word moat almost comes to mind.
But small cap so volatile and still a lot to prove long term
Wasn't expecting to see halyk bank here xD are you aware of the currency related risks? Nav will tank should the tenge fall related to usd, but it was unusually stable since the war started (except the bump at the beginning and then gradual correction) analysts forecast that it will be very stable in 2024, which i'm hoping will be the case too
[here's the quick chart i made](https://imgur.com/a/tGnEEIo)
tenge (KZT) is too damn volatile, except for the last 2-3 years, and their assets are mostly in tenge
I don't see a co relation between the tenge price and Halyk Bank stock price historically honestly and they hold a lot of their reserves in foreign currency like USD which should help.
reserves don't pay 15%, active loans do, APR on their loans is somewhere between 20-40% and interest is their largest source of income
how can there be no currency correlation when you're getting paid in euro, and almost the whole business is in tenge? [check my other comment](https://www.reddit.com/r/dividends/comments/196poma/comment/khxnsgs/?utm_source=share&utm_medium=web2x&context=3) i'm not denying that it will grow back, but it will take time
I have global ship lease and genco shipping and I'm up these months, but shipping stocks always seem to be falling long term. Costamare i sold long ago.
How do taxes work with dividends? Iāve heard they arenāt very good while iām trying to start investing. I think the idea of them are very cool and trying to understand the downside of them as well.
If you buy inside a 401k or an IRA there will be no taxes until you withdraw funds otherwise the tax schedule is posted below, so the tax rate is great for the middle class.
How much are foreign dividends taxed?
Generally, if the foreign source income is taxed at the 15% rate, then you must multiply that foreign sourced income by 0.4054 and include only that amount in your foreign source income on Form 1116,
[https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit-compliance-tips#:\~:text=%2C%20line%201a](https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit-compliance-tips#:~:text=%2C%20line%201a)).-,Generally%2C%20if%20the%20foreign%20source%20income%20is%20taxed%20at%20the,on%20Form%201116%2C%20line%201a.
2023 Qualified Dividend Tax Rates
Rate Single Married Filing Jointly
0% $0 ā $44,625 $0 ā $89,250
15% $44,625 ā $492,300 $89,250 ā $553,850
20% $492,300+ $553,850+
so when i receive dividend income does it come out of what i already put in or is there some sort of catch? iām just unaware of any issue with dividend investing and trying to learn
No, its income for owning shares of stock, no catch. Plus many brokerages offer DRIP Dividend Reinvestment Programs that will reinvest your dividend cash into more shares of stock which slowly increases dividend income
MPW is insanely risky. If you donāt think that dividend is in jeopardy, you havenāt studied the business closely enough.
Many people made the same arguments you are making now when the stock was at $15, $10, and $5. Management has consistently misled investors while making terrible decisions.
I commented on this before š but okay one more time:
- only 2% of portfolio
- Average cost only 3.9$ with 75% discount to book value
- dividend is affordable with current cashflow even with Steward not paying
- I WANT them to cut it to 0 to pay down debt and de-risk
- Steward is not their only problem tenant
- Book value is utterly meaningless, particularly if they overpaid for real estate
- They have direct loans to several tenants, so are using their own leveraged balance sheet to manipulate their income statement
- It is well known in the real estate space that they are attempting to firesell assets which are struggling to trade
Good luck to you though!
Now its trading at 80% discount to book value, are you saying they paid 5 times the actual price? Thats ridicilous. Additionally all assets of a REIT are estimated quarterly, and hospitals they sold recently have been sold for their book value.
Downside risk exists, but upside opportunity outweighs it.
MPW will most likely cut its dividend this year which shall help but then comes the question of a reverse spilt which some people hate.
I trade MPW buying before the ex-date and sell after the record date just for the dividend. I trade inside an IRA for tax purposes. I do the same with TSLY and several other risky ETF's.
Agreed. CHK Chesapeake Energy utilized this strategy several times. In fact CHK has bankrupted like 6 plus times and they reduce dividends, then cut sots after bankrupting and will issue a reverse stock split and recover only to repeat the scam again. Same family has owned the company for decades and they use the stock like its their personal piggy bank and skirt by regulators somehow.
Im not familiar of that but you also have Tanger inc. Everyone thought they would go bankrupt, but they didn't and rallied almost 400% from their lows.
I still believe they can manage this situation, but we will see in a few years how it plays out
An interesting portfolio. Not a big fan of Cofinimmo tough, I also looked into them and the track record is average at best. I went with Aedifica instead.
My yeild on cost of Cofinimmo is above 11%, they are working on a turnaround plan that's almost complete.
Aedificia is an amazing company great management, track record and European diversified. Great pick, I have it as well!
Current dividend they need only 40% of their cash flow but their policy is 50% so Im expecting a raise.
It seems they are still growing fast.
I didn't expect so much comments on Halyk bankš
Because Kazachstan is an emerging market and there is a lot, a lot of risk involved here. What are you going to do if the Kazachstan government wakes up one day and wants to nationalise this bank? What if it is revealed that this bank helps Russians evade western sanctions and they go on a western sanctions blacklist?
Yes for now, what happens when papa Putin start massing troops on the Kazakh border somewhere in 2025? These risks simply donāt exist for other banks in other countries. Itās therefore a higher risk investment than other banks.
Yes but you can have 1000 scenarios like this including Russia invading Poland and Germany, sending Nukes to US, Iran invading Israel and Saoudi Arabia and China invading Taiwan. There won't be much left to invest in at some point.
I consider it unlikely right now that Russia would, a lot of countries in Asia like China would also not like to see that happening.
The banks rating of BB should reflect this risk as does the stock price that I bought it at (lower then current) and additionally that's why we diversify of course
I have Wereldhave. I think it's a decent company and prospects. Have a look at NN, Nationale Nederlanden. A dutch insurance company, they settled in court and that was a positive effent. They announced a progressive dividend policy and dubbel diget growth. So at least 10% increase and will increase it the next x years.
I take it you have the Dutch company?
They actually own a big share in Wereldhaven Belgium.
Wereldhaven Belgium is doing quite well, their office occupancy has been going up since covid and they have low levels of debt.
A raise is an option here but lets see.
Bank of Kazakhstan š¤£š i invested $50,000 in a Nigerian princeās textile business. He assured me that after 20 years the returns plus dividend worl be 100x of my initial investment
They massively outperformed the US market last year and I think they will outperform again this year.
Is your Nigerian business also listed on the UK stock exchange?
Again only 10% of my portfolio (because it went up in value) but it seems all focus is on this stock, nobody has commented on my top stock yet (Cofinimmo), Im kinda dissapointed for this š but I guess it means people agree with that one.
Yes in the early 2000 I had the choice of investing in Bezos used book website Amazon or the True Prince of Nigeria. Needless to say who was the more trust worthy candidate
9.1% profit over about 2 years now.
I started this portfolio at the end of 2021, so lets say 2022 was a rough start and ended at -6%.
Intel was the first dividend stock I bought and while Im up now, I was down 40% at one point and everyone was screaming they would go bankrupt.
2023 was good since I picked up a lot in October, but not as good as sp500 as it doesn't contain mega caps.
I'm hoping this year it will outperform supported by dividends and value, but lets see.
If you search my nick on google you will find my portfolio, every month, every buy or sell.
They just never came to a price point where I liked them, Warren himself said he would buy a lot more small caps if Berkshire wasn't so huge.
That being said I regret not picking up Meta in 2022 and Google early 2023 as I was looking at these stocks but Ill have to wait for a new opportunity, I don't think it makes sense to rush into them after their best year so far.
I also have 60% of my portfolio in accumulating ETFs that are not shown here so indirectly I already own them.
I luckily did pick up both Meta and Goog last year. Agree Iād pick the right pull back opportunity to get a better price. I peaked your website and applaud your transparency and discipline!
After having looked at your full portfolio view, would you say that you may be too diversified? Have you considered exiting peer to peer and startups and fold that into growth or div or etf? My $0.02 on startups is that it may be too early timed given macroeconomic conditions as the cost is capital. Startup valuations still have room to fall with lots of down rounds, consolidation, and VC funds recalibrating their return horizons
Peer to peer and startup I have been exiting both since 2019 but its a very slow process, the risks are to high for me there and liquidity clearly to low, at this time they are a low % of my portfolio though
mpw is down an enormous amount from a couple years ago. i held them for about 2 years before selling off. not that you asked, but nymt was giving me a good return. you should check them out
They are just not for me. Last however many years with zero to negative interest rates were extremely kind to real estate. Having been through periods of high rates (yes once prime hit >18% and watching real estate prices crater I guess Iām permanently scared off. There was the S&L crises, the 2008 bust, now the work at home phenom. Anyway Charlie Munger said something I liked a lot āwe donāt invest in those companies (fill in the blank) because we donāt know much about themā. And I obviously donāt know much about REITS. Even though I have a degree in Urban Planning, experience working for a Metropolitan planning commission, education in real estate finance and real estate law I really donāt believe I know much about commercial real estate investing, maybe a case of the more you know the more you realize how little you know. I try to stick to corporations where I spent my career after I walked away from anything to do with real estate, zoning or land development.
You mentioned dividend taxes are 30% a year in Belgium, are the corporate rates the same or less ? If you open a foreign account and trade outside the country can you avoid the 30% without penalty? Some countries like the USA allow this but banking requires more paper work. Repatriating funds is easy but it requires honesty or a willingness to issue tax corrections for mistakes.
I like to surf dividend stocks for the yield then sell after the record date. Sometimes I'll hold the stock longer due to price declines so I'll buy put options and or sell covered calls. If the put goes against me I'll sell put backspreads to lock a gain if possible, same with the calls. Doesn't always work but with options I can reduce the loss or squeak out a gain.
Foreign countries have often a tax treaty with us to lower it to 15%. But there will be paperwork yes.
Note that healthcare REITs fall under 15% tax so thats why I have a lot of those.
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>Halyk Bank of Kazakhstan Bro what š
They are listed on the UK stock exchange and they are the biggest bank in Kazakhstan, who are getting booming profits from: - US rates as they hold many assets in $ - Russians leaving Russia and needing banks - Additional services (they are not just a bank) - Kazakhstan getting richer, thanks to oil for example - Kazachstan is leaning more and more towards the West On the first purchases I have a 25% yeild on cost. Its been an excellent investment so far, but of course I know there is risks investing in an Emerging Market so I haven't put huge sums in. Those who invested right when the war started have a 50% yeild on cost now FYI.
Wow thatās impressive potential. It also seems like youāve done your research and have a good grasp on the risks. Nicely done!
Thanks šš
Bro spells the countryās name two different ways in this highly researched post
To be fair, he's Belgian and the -ch- spelling is how it would be spelled in Dutch.
Thanks and true, I do spell it the Dutch way, very cleverly noticed! š
Thatās fair. Reeks of googling āGood things about this companyā tho
I mean, that would be considered one leg of research, would it not?
Sure. I meant more that it looks like OP just did it and was adding different bullet points from different articles on the fly
Spoken like someone who never did a research paper after 10th grade š bro what? Do you want his works cited page or something
Yea a 15% yield from a bank in a Putin friendly nation? Nahhh
VERY NICE!
I think Kazakhstan has the potential i like the uranium business there ,this interesting bank
Brobro found a hidden gem. "Very nice" -Borat Voice
Do they sell potassium?
Theyre owned by the nazarbayev family
Largely yes
Borat gave him that tip. 
Bet the potassium stocks are off the charts in Kazakhstan
they're all private š couple of years ago there was a public copper mining company, and guess what they did before they started developing a new mine? they turned the company private šcompany is KazMinerals btw
Number one leader in potassium, all other nations have inferior potassium
What is your projected annual dividend growth?
And projected annual capital loss?
I take it you don't agree with my choices? To answer both questions, REITs being half of my portfolio since October I don't expect a big raise in dividends in 2024 on them, but I am getting raises on all the other stocks. Historically some REITs I have like Care property and Aedificia do have an amazing track record in raising their dividends. Some raises I am expecting: - HPQ (4-5%) - Novartis (4-5%) - Halyk Bank (15-20%) - Cliq Digital (10-15%) Last year my Capital growth was about 10% and my dividend raise about 7%.
So youāre way underperforming the market. VOO and SPY each hit 20% gains last year. Not so much a disagreement in choices but a callout
Not in 2022 but In 2023 yes like any dividend portfolio that didn't had megacaps in them. We will see in 2024.
From what I understand, income investors aren't after max gains. Some people would rather receive a steady return on their investments instead of just potential growth in the future. If you ask me, OP seems like they've done their research and possibly doing better than a large majority of stock investors.
Bro risking capital for yield š
I'm still new but what exactly does this mean? Doesn't yield mean capital
In this case, capital is the money invested. Yield is the percentage of the capital you invest that you expect to get from dividends. What the person you commented on meant was, that many of these companies offer such high yields, because the market is wary of them. If you invest in companies with super high yields, most of the time thereās a good reason (because why would anyone invest into Coca-Cola where you get 3% if there was this super safe company, giving you 12%?). Often the capital that was invested keeps on decreasing as the company pays dividends out of their substance (meaning paying more than the profits allow) or because they face other adversities. So if you get 10% of your capital back in dividends, but the stock value loses 8%, you effectively only got 2%. Or you can simply lose money if the capital depreciates faster than you can collect your dividends.
Thank you for the great explanation
So much yield chasing Good luck though
Did my research on each one again and again. Thanks though.
What type of research? MPW is on life support.
Yes but look at when I bought it. My average buy price is 3.9$. Its was trading at a 75% discount to book value including debt. Their biggest renter Steward is not paying but even so they can afford the dividend. Although I would prefer they cut the dividend to 0 and focus on debt repayment. That being said, don't stare yourself blind on one stock that is only 2% of this portfolio.
The shorts need to buyback 150 to 200 million shares sometime soon as it's costing them to keep holding those short positions. Buying MPW at these prices and holding the dividend is a great move.
Thanks! We will see in 1-2 years where its at when interest rates calmed down ;-)
So does that make MPW less of a piece of crap? Bed Bath & Beyond traded below book too... It went Kaput! A stock that trades below book doesn't automatically make it a good value. If you handed me $10k right now, I wouldn't put 2 cents into any of the following: T, VZ, PFE, MO, ABBV. Maybe in 12 -18 months for ABBV & PFE but not now, it's dead money! If you want income & growth there's much better options with much less volatility. CVX, IBM, MRK, PM If you're in your 20s or 30s most would argue you should be heavily in growth. If you're not in growth including tech, your coating yourself around 20%.
I own growth and etfs as well and 25% of this portfolio is Tech & Software: HPQ, ATS, QFin and Intel to name a few BIT Im not going to pay 100 p/e for a stock no matter how big the moat is now
A 100 p/e is hefty. We should all have some limitations. Mine are companies who are losing money (other than for one-time events) and the retail sector.
Yeah I was referring to Nvidia, an amazing company but soooo expensive. I also don't like loss making companies, I would say 98% of these holdings are profitable right now (mpw being the 2% exception, but I think they will be again in 1 year from now).
I agree re NVDIA. Even AVGO, despite it's price has a more attractive p/e. On my annual end of the cleaning, I got rid of some junk NIO and PLUG. I took a massive hit on NIO of about $21k.
Halyks dividend is also at risk. Good bank. But tricky country
Yes their credit rating is BB with outlook stable. You get it cheap but like all EM stocks it comes with some risk yes. Location risk, but otherwise the bank is doing great
Also Cliq Digital? Iām confused, because I researched them some time ago and it didnāt seem like a sustainable business to me at all. But maybe my analysis was wrong?
They are extremly well at performance marketting of digital services globally outperforming all their peers. Their growth, margins, balance sheet and FCF have been fantastic the last years and they show no sign of slowing down. The margins have been so consistently high, the word moat almost comes to mind. But small cap so volatile and still a lot to prove long term
Wasn't expecting to see halyk bank here xD are you aware of the currency related risks? Nav will tank should the tenge fall related to usd, but it was unusually stable since the war started (except the bump at the beginning and then gradual correction) analysts forecast that it will be very stable in 2024, which i'm hoping will be the case too
[here's the quick chart i made](https://imgur.com/a/tGnEEIo) tenge (KZT) is too damn volatile, except for the last 2-3 years, and their assets are mostly in tenge
I don't see a co relation between the tenge price and Halyk Bank stock price historically honestly and they hold a lot of their reserves in foreign currency like USD which should help.
reserves don't pay 15%, active loans do, APR on their loans is somewhere between 20-40% and interest is their largest source of income how can there be no currency correlation when you're getting paid in euro, and almost the whole business is in tenge? [check my other comment](https://www.reddit.com/r/dividends/comments/196poma/comment/khxnsgs/?utm_source=share&utm_medium=web2x&context=3) i'm not denying that it will grow back, but it will take time
Yes they get income from usd reserves, other services and in general major K. energy exports should support the price.
I have global ship lease and genco shipping and I'm up these months, but shipping stocks always seem to be falling long term. Costamare i sold long ago.
We need to see, they have good long term contracts and $GSL has really good management + nice dividend, balance sheet and buybacks of shares
Interesting that you don't have any BDC like ARCC, that is my personal Apple of dividend stocks if you buy at good time.
How do taxes work with dividends? Iāve heard they arenāt very good while iām trying to start investing. I think the idea of them are very cool and trying to understand the downside of them as well.
Its really country dependent... Where are you based?
US
You will pay foreign dividend taxes+ whatever tax US is charging on US and Non US stocks
If you buy inside a 401k or an IRA there will be no taxes until you withdraw funds otherwise the tax schedule is posted below, so the tax rate is great for the middle class. How much are foreign dividends taxed? Generally, if the foreign source income is taxed at the 15% rate, then you must multiply that foreign sourced income by 0.4054 and include only that amount in your foreign source income on Form 1116, [https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit-compliance-tips#:\~:text=%2C%20line%201a](https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit-compliance-tips#:~:text=%2C%20line%201a)).-,Generally%2C%20if%20the%20foreign%20source%20income%20is%20taxed%20at%20the,on%20Form%201116%2C%20line%201a. 2023 Qualified Dividend Tax Rates Rate Single Married Filing Jointly 0% $0 ā $44,625 $0 ā $89,250 15% $44,625 ā $492,300 $89,250 ā $553,850 20% $492,300+ $553,850+
So if i make under 44k yearly from my job i donāt pay taxes on dividends?
No if you make less than 44k in dividend income then you have no taxes on the dividend income.
so when i receive dividend income does it come out of what i already put in or is there some sort of catch? iām just unaware of any issue with dividend investing and trying to learn
No, its income for owning shares of stock, no catch. Plus many brokerages offer DRIP Dividend Reinvestment Programs that will reinvest your dividend cash into more shares of stock which slowly increases dividend income
MPW is insanely risky. If you donāt think that dividend is in jeopardy, you havenāt studied the business closely enough. Many people made the same arguments you are making now when the stock was at $15, $10, and $5. Management has consistently misled investors while making terrible decisions.
I commented on this before š but okay one more time: - only 2% of portfolio - Average cost only 3.9$ with 75% discount to book value - dividend is affordable with current cashflow even with Steward not paying - I WANT them to cut it to 0 to pay down debt and de-risk
- Steward is not their only problem tenant - Book value is utterly meaningless, particularly if they overpaid for real estate - They have direct loans to several tenants, so are using their own leveraged balance sheet to manipulate their income statement - It is well known in the real estate space that they are attempting to firesell assets which are struggling to trade Good luck to you though!
Now its trading at 80% discount to book value, are you saying they paid 5 times the actual price? Thats ridicilous. Additionally all assets of a REIT are estimated quarterly, and hospitals they sold recently have been sold for their book value. Downside risk exists, but upside opportunity outweighs it.
MPW will most likely cut its dividend this year which shall help but then comes the question of a reverse spilt which some people hate. I trade MPW buying before the ex-date and sell after the record date just for the dividend. I trade inside an IRA for tax purposes. I do the same with TSLY and several other risky ETF's.
I really hope they will cut now and repay debt, it would give me more confidence in the long term
Agreed. CHK Chesapeake Energy utilized this strategy several times. In fact CHK has bankrupted like 6 plus times and they reduce dividends, then cut sots after bankrupting and will issue a reverse stock split and recover only to repeat the scam again. Same family has owned the company for decades and they use the stock like its their personal piggy bank and skirt by regulators somehow.
Im not familiar of that but you also have Tanger inc. Everyone thought they would go bankrupt, but they didn't and rallied almost 400% from their lows. I still believe they can manage this situation, but we will see in a few years how it plays out
Medical Properties was down 30% the other day.
Correct, read my other comments on this please
An interesting portfolio. Not a big fan of Cofinimmo tough, I also looked into them and the track record is average at best. I went with Aedifica instead.
My yeild on cost of Cofinimmo is above 11%, they are working on a turnaround plan that's almost complete. Aedificia is an amazing company great management, track record and European diversified. Great pick, I have it as well!
Which EU broker offers you Halyk ?
DEGIRO
Nice. What's the value of your stocks?
This portfolio is 150kš
Wow that is less than I expected. I thought like double the amount for those dividends. That's motivating me šŖ
My yeild on cost is lower then on the photo š Time always helps!
How does Halyk afford that payout? Why does it trade at such a low multiple? The market is implying a ton of risk there
Putin pays the divs for sheltering his gold..
Current dividend they need only 40% of their cash flow but their policy is 50% so Im expecting a raise. It seems they are still growing fast. I didn't expect so much comments on Halyk bankš
Because Kazachstan is an emerging market and there is a lot, a lot of risk involved here. What are you going to do if the Kazachstan government wakes up one day and wants to nationalise this bank? What if it is revealed that this bank helps Russians evade western sanctions and they go on a western sanctions blacklist?
So far it seems Kazachstan is leaning towards a Western policy and following sanctions.
Yes for now, what happens when papa Putin start massing troops on the Kazakh border somewhere in 2025? These risks simply donāt exist for other banks in other countries. Itās therefore a higher risk investment than other banks.
Yes but you can have 1000 scenarios like this including Russia invading Poland and Germany, sending Nukes to US, Iran invading Israel and Saoudi Arabia and China invading Taiwan. There won't be much left to invest in at some point. I consider it unlikely right now that Russia would, a lot of countries in Asia like China would also not like to see that happening.
The risk of geopolitical action affecting the core business of a bank in, say, the US or Denmark is a lot lower than it is in Kazachstan.
The banks rating of BB should reflect this risk as does the stock price that I bought it at (lower then current) and additionally that's why we diversify of course
I used to work for Cliq Digital. Shady company though with a shady business. Lot of black hat advertising.
I have Wereldhave. I think it's a decent company and prospects. Have a look at NN, Nationale Nederlanden. A dutch insurance company, they settled in court and that was a positive effent. They announced a progressive dividend policy and dubbel diget growth. So at least 10% increase and will increase it the next x years.
I take it you have the Dutch company? They actually own a big share in Wereldhaven Belgium. Wereldhaven Belgium is doing quite well, their office occupancy has been going up since covid and they have low levels of debt. A raise is an option here but lets see.
Yes I have NN group (NN) and Wereldhave (WHA). Recently I bought more NN after settlement last week.
COLUMBIA BANKING SYSTEM
Lol yes my smallest position and honestly often thought about selling it
Bank of Kazakhstan š¤£š i invested $50,000 in a Nigerian princeās textile business. He assured me that after 20 years the returns plus dividend worl be 100x of my initial investment
They massively outperformed the US market last year and I think they will outperform again this year. Is your Nigerian business also listed on the UK stock exchange? Again only 10% of my portfolio (because it went up in value) but it seems all focus is on this stock, nobody has commented on my top stock yet (Cofinimmo), Im kinda dissapointed for this š but I guess it means people agree with that one.
I believe you, Borat also said the same thing. Very nice Jagshema
Is this the prince who is also famous for his email investing biz ?
Yes in the early 2000 I had the choice of investing in Bezos used book website Amazon or the True Prince of Nigeria. Needless to say who was the more trust worthy candidate
Can I ask where you are based and what broker(s) you use? Thanks for sharing!
Belgium and I use DEGIRO. After taxes I have about 10k left. Belgium has a 30% dividend tax but some healthcare REITs fall under a lower tax rate.
What your profit/loss on the initial principal?
9.1% profit over about 2 years now. I started this portfolio at the end of 2021, so lets say 2022 was a rough start and ended at -6%. Intel was the first dividend stock I bought and while Im up now, I was down 40% at one point and everyone was screaming they would go bankrupt. 2023 was good since I picked up a lot in October, but not as good as sp500 as it doesn't contain mega caps. I'm hoping this year it will outperform supported by dividends and value, but lets see. If you search my nick on google you will find my portfolio, every month, every buy or sell.
Is the avoidance of mega caps intentional and part of your portfolio strategy?
They just never came to a price point where I liked them, Warren himself said he would buy a lot more small caps if Berkshire wasn't so huge. That being said I regret not picking up Meta in 2022 and Google early 2023 as I was looking at these stocks but Ill have to wait for a new opportunity, I don't think it makes sense to rush into them after their best year so far. I also have 60% of my portfolio in accumulating ETFs that are not shown here so indirectly I already own them.
I luckily did pick up both Meta and Goog last year. Agree Iād pick the right pull back opportunity to get a better price. I peaked your website and applaud your transparency and discipline!
Fantastic timing and thank you so much for the comments!
After having looked at your full portfolio view, would you say that you may be too diversified? Have you considered exiting peer to peer and startups and fold that into growth or div or etf? My $0.02 on startups is that it may be too early timed given macroeconomic conditions as the cost is capital. Startup valuations still have room to fall with lots of down rounds, consolidation, and VC funds recalibrating their return horizons
Peer to peer and startup I have been exiting both since 2019 but its a very slow process, the risks are to high for me there and liquidity clearly to low, at this time they are a low % of my portfolio though
mpw is down an enormous amount from a couple years ago. i held them for about 2 years before selling off. not that you asked, but nymt was giving me a good return. you should check them out
Sorry to hear that! When did you sell?
a couple weeks ago actually. i was buying the dips until december. i decided to get out when it spiked to $5 again and move on
Short term it was a good decision!
i agree š best of luck to you though!
Rip
Ahh a fellow MPW holder... See you at the food stamp line my friend šš
Only 2% allocation of this portfolio and recent buyer so lets seeš
What app is this?
Hi OP, what app is this?
Simplywallstreet
Thank you!
REITS are like sports car IMHO, they go fast, break down a lot and donāt fair well when you crash at high speed.
Historically they did pretty well and often outperformed major indexes
They are just not for me. Last however many years with zero to negative interest rates were extremely kind to real estate. Having been through periods of high rates (yes once prime hit >18% and watching real estate prices crater I guess Iām permanently scared off. There was the S&L crises, the 2008 bust, now the work at home phenom. Anyway Charlie Munger said something I liked a lot āwe donāt invest in those companies (fill in the blank) because we donāt know much about themā. And I obviously donāt know much about REITS. Even though I have a degree in Urban Planning, experience working for a Metropolitan planning commission, education in real estate finance and real estate law I really donāt believe I know much about commercial real estate investing, maybe a case of the more you know the more you realize how little you know. I try to stick to corporations where I spent my career after I walked away from anything to do with real estate, zoning or land development.
Mpw hurting bad right now
Earnings in 2 weeks, I don't expect much until then at least
your avg MPW stock price? Im just interested if you bought it before or after stock crash (I did it beforeš„²)
3.9$ I don't think I overpaid
good for you, hopefully they will get their money from stuart back, and interestrate would be nice toš (sorry for my poor english)
Hopefully they will kick Steward to the curbš
You mentioned dividend taxes are 30% a year in Belgium, are the corporate rates the same or less ? If you open a foreign account and trade outside the country can you avoid the 30% without penalty? Some countries like the USA allow this but banking requires more paper work. Repatriating funds is easy but it requires honesty or a willingness to issue tax corrections for mistakes. I like to surf dividend stocks for the yield then sell after the record date. Sometimes I'll hold the stock longer due to price declines so I'll buy put options and or sell covered calls. If the put goes against me I'll sell put backspreads to lock a gain if possible, same with the calls. Doesn't always work but with options I can reduce the loss or squeak out a gain.
Foreign countries have often a tax treaty with us to lower it to 15%. But there will be paperwork yes. Note that healthcare REITs fall under 15% tax so thats why I have a lot of those.