Ever try to research bonds? It can add some security, being higher up on the creditor heap, but researching the many details can be confounding and very time consuming for the retail investor. Maybe leaving it to some “bond market pros” might be a solution.

That’s where Calamos Dynamic Convertible And Income Fund (CCD) comes in. It’s a closed end fund, a CEF, which “invests in convertibles and other below-investment-grade (high yield) fixed income securities with the aim of generating total return through a combination of capital appreciation and income. To help generate income and achieve a favorable risk/reward profile, the investment team can also sell options.

By investing at least 50% in convertibles, the fund seeks upside participation in equity markets with less downside exposure over a full market cycle. It actively allocates assets between convertibles, fixed income and equity securities to optimize risk-managed returns.”

It also has a

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Despite a strong IPO season, the stock of Angel Broking Ltd, one of the largest retail brokers in India, listed with a discount of about 10 per cent to the issue price on Monday. The stock made its debut at Rs 275 versus its issue price of Rs 306 a share on the National Stock Exchange. The company’s share marked an intraday high of Rs 296.7 and an intraday low of Rs 257. At 14:30 hrs on Monday, the company was trading around the listing price of Rs 275.

While the stock seemed quite expensive at the issue price, with the then price-earnings multiple of 30 (post-issue) its FY20 earnings, the valuation has dropped to about 27 considering the listing price.

Even at the current price levels, the stock seems unattractive as its other listed peers such as ICICI Securities that are is comparatively cheap or with better financial metrics.

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Prepared by Chris, CEO Quad 7 Capital and lead analyst at team BAD BEAT Investing

Chimera Investment Corporation (NYSE:CIM) remains a holding in my long-term dividend reinvestment income portfolios, but it’s also a name that can be traded on the swings. We have been telling members that this name is a stock to buy on any meaningful pullback. Well, friends, with the stock nearing the $8 mark, that time has come. I have mentioned this before, but back in February, I detailed why I sold half the position and was letting the house’s money run, and our team highlighted it as a pick in March when mREITs were getting obliterated. We have been following this company and the portfolio very closely for quite some time. This year of course the stock and portfolio holdings were decimated.

The prior quarter which was rocked by COVID was a complete disaster, and huge

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While just everyone seems to think the U.S. needs another round of stimulus, politicians in Washington can’t seem to get their act together. After talks broke down in August, calls for more stimulus from Federal Reserve officials, several high-profile CEOs, and centrist politicians seem to have gotten talks back on track. Meanwhile, last week’s recent unemployment numbers came in worse than expected, fueling more urgency.

However, it’s still unclear if renewed negotiations will be successful, or if anything will pass before a contentious election. A lack of new stimulus could mean more unemployment and another leg down in the economy. Meanwhile, while there has been some positive vaccine news, it’s unlikely any vaccine would be widely available before next spring, should a vaccine be approved at all.

Despite these scary numbers and headlines, none of this is to deter you from your investing plan, which should include setting aside a

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BlackRock TCP Capital Corp (TCPC) is a Business Development Corp. specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States. The fund typically invests between $10 million and $35 million in companies with enterprise values between $100 million and $1.5 billion. It prefers to make equity investments in companies for an ownership stake. (TCPC site)

Like other BDC’s that we’ve covered in recent articles, TCPC has gotten hit hard in the 2020 COVID-19 crash – it’s still down -34% year to date, even with bouncing back 45% since the March lows.

It has had a pretty good run since our last article in early July, delivering a total return of 11.53% in ~10 weeks:

It has outperformed the UBS ETRACS Linked to the Wells Fargo Business Development

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MediWound (MDWD) has popped up on my scanner several times over the past couple of years following some potent company press releases and catalysts. Admittedly, I would take a look at the headline and then check the ticker only to see a big move followed by a fade, so I have failed to actually start a position. Now, I am committed to making an entry in the coming weeks or months ahead of a potential PDUFA for the company’s NexoBrid product. I believe MediWound is an underfollowed ticker that is currently trading at a discount when considering its long-term prospects. As a result, I believe MDWD is worthy of a speculative buy at these prices.

I intend to provide some background information on MediWound and present a case for a long-term position in MDWD. In addition, I discuss some of my leading downside risks and how I intend to start

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(Bloomberg) — China Evergrande Group kicked off a nationwide sales promotion with a 30% discount on all real estate properties as the developer tries to boost sales and meet its target of cutting debt by half.



a group of tall buildings: An Evergrande Metropolis (or Evergrande Mingdu) community is pictured on February 17, 2020 in Huai'an, Jiangsu Province of China.


© Photographer: VCG/Visual China Group
An Evergrande Metropolis (or Evergrande Mingdu) community is pictured on February 17, 2020 in Huai’an, Jiangsu Province of China.

The promotion on residential real estate began Monday and will last until Oct. 8, which marks the end of China’s week-long national holiday, according to a statement from the property developer. While Evergrande routinely offers discounts during holidays when Chinese tend to shop for apartments, the promotion has come earlier this year and with a deeper price cut.

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Last week, Evergrande vowed to increase sales as part of its efforts to meet an aggressive deleveraging target — cutting borrowings by about 150 billion yuan ($22 billion) each year

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There is increasing criticism of universities for not lowering tuition for going online. The argument is online education is cheaper, inferior and less valuable. This is not the case, and certainly not where I work in the McCombs School of Business at the University of Texas at Austin.

In my 25 years of teaching, and now leading the transition to remote learning in my school, I have never seen such commitment and cooperation to provide the best learning experience to students. Irrespective of rank and reputation, a large majority of the 250 full-time and part-time faculty members have come together to share their experiences, bring best practices, learn from one another, practice together and be there for one another for only one purpose — the best outcome for our students.

We’ve run 30 workshops in the past five months, and some sessions have been attended by nearly 200 faculty members.

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Introduction

The search for bargains is relentless as the industry starts to regain its legs. I will spare you any guessing about how I feel about this shale producer. I wish I had looked into them a few months ago when they were seriously underpriced in the teens. Darn the luck!

During the second quarter as oil prices have ramped up, Cimarex Energy (XEC) stock has followed it higher. We must confess the easy money has been made.

Seeking Alpha

XEC is still selling at ~45% discount to its January high, so there could be room for some additional gains. Let’s apply our usual metrics and see where they stack up in our shale portfolio of opportunities.

Note – this article appeared earlier this month in the Daily Drilling Report.

Debt and Liquidity

Debt and liquidity are more important than ever these days. XEC’s debt position was the first thing

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Despite the sharp market decline caused by the pandemic, Coca-Cola Consolidated (NASDAQ:COKE) is back to January levels, erasing the discount and therefore trading at fair value. While other businesses such as retail have suffered tremendously from the lockdown and will continue to experience a lower volume of sales in the near term future, COKE’s sales have been moderately affected, proving that this business has a strong moat. If we take a look back at the evolution of the stock’s price, it had a fantastic run since 2010, bringing in a return to its shareholders of 461%. Compared to the 211% return delivered by the S&P 500 over the same period, COKE has clearly outperformed the market. But can we assume that the company will be able to do so in the future? The buying price is key when calculating expected returns, and with COKE’s stock price back at January 2020

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