imagedepotpro/iStock via Getty Images Note: Amounts are in Canadian Dollars unless noted Few surprises are more pleasant than the ones where you invest in a company with the expectation of good income over time, but the company also then provides you with truly impressive capital appreciation. This has been the case with Exchange Income Corporation ( EIF:CA ). This company has been on my coverage ...
imagedepotpro/iStock via Getty Images Note: Amounts are in Canadian Dollars unless noted Few surprises are more pleasant than the ones where you invest in a company with the expectation of good income over time, but the company also then provides you with truly impressive capital appreciation. This has been the case with Exchange Income Corporation ( EIF:CA ). This company has been on my coverage spectrum for a long, long time. Ever since I began investing, in fact. It was part of my original portfolio, where I considered it a solid core holding because it was a "monthly payor." My portfolio at the time was in part centered around "getting money every month" to pay for everything. This sort of "mailbox money" approach isn't a bad approach at all, even if I later found through trial and error that valuation-style approaches tend to suit me better. Exchange Income is, aside from being an impressive payor, also a very impressive company fundamentally. The decline after my last article did not bother me in the least - I in fact, bought more, and it was a good time, given the upswing the company has seen. The price, as of the writing of this article, is now at $105/share. As you can see from the returns below, something definitely happened from 2025 until now. Seeking Alpha EIF ROR My position in this company was not small in the least. As I sold it, it was close to 3.5% of my portfolio due to both growth and reinvestment. I don't claim to have sold at the peak, but I managed to get a TSR of about 92%, which, for a company that provided me with very solid income over the years, was excellent. My points in this article will have several underlying reasons. First off, I'll show you why the company has risen. It wasn't a bounce but a concerted upswing over time. Secondly, update my targets and show you where I'd invest. To be clear, EIF is now at a very low yield. 2.5% is no longer attractive in itself because a bond/treasury gives over 4%. So what I'd need to get back into...
Global imbalances are once again taking shape, albeit differently than how they manifested before the financial crisis of the late 2000s. Back then, the story was simple: some countries, led by China and Germany, saved too much, while the United States consumed too much. The answer, at least in theory, was also simple: surplus countries should rely more on domestic demand while deficit countries s...
Global imbalances are once again taking shape, albeit differently than how they manifested before the financial crisis of the late 2000s. Back then, the story was simple: some countries, led by China and Germany, saved too much, while the United States consumed too much. The answer, at least in theory, was also simple: surplus countries should rely more on domestic demand while deficit countries should save more; exchange rates should adjust. While that framework still matters, it no longer...
British builders suffered the sharpest acceleration in cost pressures in at least three decades in March as the war in Iran drove up prices for fuel and raw materials. S&P Global said its survey of construction firms found that delivery times increased for the first time since July and input-price inflation hit its highest since November 2022 during the aftermath of Russia’s invasion of Ukraine. T...
British builders suffered the sharpest acceleration in cost pressures in at least three decades in March as the war in Iran drove up prices for fuel and raw materials. S&P Global said its survey of construction firms found that delivery times increased for the first time since July and input-price inflation hit its highest since November 2022 during the aftermath of Russia’s invasion of Ukraine. The month-on-month pickup in cost pressures was the largest since the survey began in 1997. The wider construction purchasing managers’ index edged up to 45.6 from 44.5, stronger than economists had forecast but still signaling another decline in output. Builders reported firms delaying investment decisions and fragile confidence in the wake of the turmoil in energy markets caused by the US and Israeli attacks on Iran. It was the latest survey to show the conflict in the Middle East weighing on activity and stoking inflationary pressures in the UK. On Tuesday, the composite PMI raised fears of Britain’s economy slipping back into stagflation after the wider private sector flatlined in March and input prices climbed rapidly. “Escalating inflationary pressures, gloomy domestic economic prospects and higher borrowing costs were widely cited concerns in March,” said Tim Moore, economics director at S&P Global Market Intelligence. “Fuel surcharges and rising transport costs contributed to a surge in input cost inflation.” S&P said housebuilders remained the weakest part of the construction sector, though the latest decline was slightly less sharp than the previous month. Commercial and civil engineering activity also continued to see output fall. Demand was underpinned by energy infrastructure projects. The overall construction sector has now suffered 15 straight months of declining activity, the longest slump since the housing market crashed following the financial crisis. Expectations for future activity dropped to the lowest since December, new orders shrank at the fastest pac...
Key PointsThe S&P 500 is down 5% from its high, but the index could fall further if the Iran conflict keeps oil prices elevated for a prolonged period.
Key PointsThe S&P 500 is down 5% from its high, but the index could fall further if the Iran conflict keeps oil prices elevated for a prolonged period.
Hong Kong authorities have proceeded to confiscate properties linked to crimes committed by former media boss Jimmy Lai Chee-ying, with a hearing scheduled in three months to address the court order. According to a court document inspected by the South China Morning Post on Wednesday, the secretary for justice filed an application with the Court of First Instance to confiscate Lai’s properties aft...
Hong Kong authorities have proceeded to confiscate properties linked to crimes committed by former media boss Jimmy Lai Chee-ying, with a hearing scheduled in three months to address the court order. According to a court document inspected by the South China Morning Post on Wednesday, the secretary for justice filed an application with the Court of First Instance to confiscate Lai’s properties after he was sentenced to serve 20 years in jail. A 60-minute hearing is scheduled for July 8 to handle...