Rocky’s Weekly Stock Picks
This week was going to feature Russian-linked securities, or at least the few that remained accessible. RSX was pricing under $6 before it got turned off. They probably would have been fine, but VanEck can’t exactly fly uinder the radar. QIWI got turned off before we could buy shares on a discount. (RSX is an ETF invested in Russian securities in different sectors.) (QIWI is some kind of financial or fintech thing based out of Cyprus to provide payment solutions to Russian businesses…or something.)
That’s just fine, though, as we’ll be picking some MLP’s. Master Limited Partnerships don’t pay a dividend, they issue a return of capital. In other words, you don’t pay income tax on your distributions from MLPs because they’re not income. Nice!
This could change how you file your taxes, though. Nobody, not even user-friendly Robinhood, tells you about this ahead of time. Or maybe they do, who knows? We’re amateurs, we’re not reading stuff, we’re just buying the best names we can afford. We also are stuck waiting on a handful of K-1’s, so, yeah.
WEAT - At $10.83 a share, we’re certainly glad to have started buying this one months ago. Wheat hit a record high this past week, so that happened.
We’ve touched on WEAT before, and it’s really the only option for investing directly, more or less, into wheat as a commodity without having access to futures contracts. What we didn’t know previously, is that WEAT is an MLP.
As if we needed another reason to buy into this fund.ET - Energy Transfer. $10.43. Another MLP. One might wonder how we were unaware that one of our favorite buys on the weekly is a partnership, given that it’s literally in the name.
Good to know. If LP is in the name, it’s almost definitely a limited partnership.
What is the difference between Master Limited Partnership and slave Limited Partnership? We have absolutely no idea (yet), and “slave” LP isn’t a thing.
USO - $79.46 , US Oil Fund. That pretty much says it all. If you can’t afford to get in on this, or don’t have the option of fractional shares, try USOI. It’s a Credit Suisse fund and is like $5.50 a share. Not that it really matters, but some of us just don’t like fractional shares.
We’re not here to judge, we’re just saying it’s like an OCD thing.
VALE - $ 20.15 Ex-div is Wednesday.
”Vale is the world’s largest iron ore miner”
Done deal. No need to read more. Just for fun, though, we see that September’s dividend was $1.50+. Nice. We particularly liked VALE long before we ever read anything about it. It’s fun when stock ticker symbols spell real words.WKHS - $3.68 a share, and we’re surprised the price got this low without news of the company giving up. Anyway, we’re not recommending shares, we’re recommending deep ITM poor man’s covered calls, vertical spreads, and calendar spreads. Take your pick.
Options trade weekly.
