The first Federal inheritance tax was passed in 1898. Corporate taxes were written into law in 1909. And in 1913, the Sixteenth Amendment was ratified, paving the way for federal income taxes as we know them today. Ironically, that first attempt at taxing income from wages, property, and investments was the byproduct of a fierce debate on tariffs. Politicians of the day wanted to reduce tariffs and abandon the nation’s protectionist policies. Income taxes were seen as a way to offset lost federal revenues. Over a century later, we are still arguing over these same issues. But whatever transpires on… Read More

The first Federal inheritance tax was passed in 1898. Corporate taxes were written into law in 1909. And in 1913, the Sixteenth Amendment was ratified, paving the way for federal income taxes as we know them today. Ironically, that first attempt at taxing income from wages, property, and investments was the byproduct of a fierce debate on tariffs. Politicians of the day wanted to reduce tariffs and abandon the nation’s protectionist policies. Income taxes were seen as a way to offset lost federal revenues. Over a century later, we are still arguing over these same issues. But whatever transpires on Capitol Hill, one thing is for sure: income taxes are here to stay. —Recommended Link— “Banks want a hit of the marijuana business” — how you could profit (15x potential) If there’s anything we learned from 2008: Big Banks get what they want. But it’s not all bruises & bailouts this time… because their rumbling appetite for a slice of the pot pie — is putting HUGE pressure on a trillion-dollar reservoir of cash… Washington Post reports “banks want a hit of the marijuana business”… Energy & Capital says “Big Banks Want in… Read More

Homebuilders from Georgia to California haven’t been this busy in well over a decade. Housing starts have quickened for five straight months and are now running at an annualized pace of 1.3 million units. That means more than 100,000 new homes are going up each and every month. While residential construction rates can be choppy from quarter to quarter depending on weather and other factors, this steady upswell is gaining strength.  Building permits (a good indicator of future construction) have climbed 14% from a year ago to reach 1.46 million. That’s a new 12-year peak.  We haven’t seen numbers this… Read More

Homebuilders from Georgia to California haven’t been this busy in well over a decade. Housing starts have quickened for five straight months and are now running at an annualized pace of 1.3 million units. That means more than 100,000 new homes are going up each and every month. While residential construction rates can be choppy from quarter to quarter depending on weather and other factors, this steady upswell is gaining strength.  Building permits (a good indicator of future construction) have climbed 14% from a year ago to reach 1.46 million. That’s a new 12-year peak.  We haven’t seen numbers this strong since before the financial crash. The question is, can the gains continue?  To understand where the housing market is headed, you first have to see just how far we’ve come. —Recommended Link— 18,000 Legal Weed Businesses BEG to be “Robbed” (Grant their wish) ​​ There’s now a legal way to “rob” all of the 18,000 marijuana businesses in America… incredibly, these “robberies” could shove $7,081 in fast cash into your pockets – for every $20 you invest. Our most elite lawmakers are quietly voting to encourage it! Even crazier – ALL… Read More

It’s been a downhill slide for AMC Entertainment Holdings (NYSE: AMC) over the past couple months. Fortunately, underlying business trends have been moving in the opposite direction. AMC welcomed 87.1 million visitors to its theatres last quarter – a record. Even more impressive, it managed to push through a 3.3% hike in average ticket prices, while its peers only hiked by 0.65%. The company continues to dramatically outperform the industry average by several hundred basis points in terms of attendance growth and revenue growth per screen. #-ad_banner-#More of those guests lined up at the concession stand for popcorn and beverages… Read More

It’s been a downhill slide for AMC Entertainment Holdings (NYSE: AMC) over the past couple months. Fortunately, underlying business trends have been moving in the opposite direction. AMC welcomed 87.1 million visitors to its theatres last quarter – a record. Even more impressive, it managed to push through a 3.3% hike in average ticket prices, while its peers only hiked by 0.65%. The company continues to dramatically outperform the industry average by several hundred basis points in terms of attendance growth and revenue growth per screen. #-ad_banner-#More of those guests lined up at the concession stand for popcorn and beverages too. Food and drink revenues per patron rose 5% to hit a new third-quarter high. So, what does all this mean for revenue? Well, AMC took in $1.32 billion over the past three months, a healthy increase of 8%. After adjusting for a non-cash accounting change, EBITDA rose 33% from a year ago to reach $157 million. Of course, that figure excludes interest expense, which can’t just be ignored (AMC paid $85 million in interest for the period). But operating cash flow has improved sharply as well, rebounding to $56 million from just $2 million a year ago. I suspect… Read More

Last week, I wrote about the staggering numbers behind global trade. I even mentioned a couple of ways investors could potentially profit. One of those ways is with containership leasing firm Seaspan (NYSE: SSW). A Seaspan assist ship docking with a bulk carrier (above) Seaspan made its market debut in 2005 with ownership of 13 containerships. That fleet size doubled to 25 vessels within two years and doubled again to 50 just three years later. Today, the company owns 112 ships. That makes it the world’s largest independent containership owner, with 15% more capacity than the next-closest competitor. Read More

Last week, I wrote about the staggering numbers behind global trade. I even mentioned a couple of ways investors could potentially profit. One of those ways is with containership leasing firm Seaspan (NYSE: SSW). A Seaspan assist ship docking with a bulk carrier (above) Seaspan made its market debut in 2005 with ownership of 13 containerships. That fleet size doubled to 25 vessels within two years and doubled again to 50 just three years later. Today, the company owns 112 ships. That makes it the world’s largest independent containership owner, with 15% more capacity than the next-closest competitor. These ships span the full spectrum, from small “feeder” vessels to mid-sized liners to ultra-large containerships (ULCS) that can hold up to 14,000 containers. Those containerships aren’t experiencing much downtime these days. Those ships were “on-hire” 99.6% of the time last quarter. That’s the highest utilization rate since 2011. Other than a few days in dry-dock for scheduled maintenance, Seaspan’s ships have essentially been available – and chartered – around the clock. And rates are holding steady. With a growing fleet, charter revenues have increased 5% year-to-date to $843 million. It helps that Seaspan has longstanding relationships with seven of… Read More

The last of the leftover turkey and pumpkin pie are gone, which means the countdown to Christmas has officially begun. And thus far, it has been a smashing success for retailers. While Black Friday has traditionally been considered the kickoff to the holiday season, many retailers are moving the start earlier and earlier. An estimated 40 million Americans jumped the gun and hit the stores on Thanksgiving Day in search of special deals and promotions. While checkout lines weren’t quite as long on Friday (according to RetailNext, foot traffic slipped 2% after rising 2% on Thursday), shoppers still spent freely,… Read More

The last of the leftover turkey and pumpkin pie are gone, which means the countdown to Christmas has officially begun. And thus far, it has been a smashing success for retailers. While Black Friday has traditionally been considered the kickoff to the holiday season, many retailers are moving the start earlier and earlier. An estimated 40 million Americans jumped the gun and hit the stores on Thanksgiving Day in search of special deals and promotions. While checkout lines weren’t quite as long on Friday (according to RetailNext, foot traffic slipped 2% after rising 2% on Thursday), shoppers still spent freely, both online and offline. Adobe Analytics (which monitors real-time spending at 80 of the nation’s top 100 retailers) estimates that online shoppers spent $7.4 billion on Black Friday, up from $6.2 billion last year. By Sunday night, physical and virtual stores had rung up a combined $69 billion in sales over the long four-day weekend. But The Shopping Binge Didn’t End There… Cyber Monday defended its title as the busiest shopping day of the year, with online retailers taking in $9.2 billion in sales. That’s a healthy 17% increase from last year – and a new record high. #-ad_banner-#Research… Read More

Company executives and board members might sell some of their shares for any number of reasons. But there’s really only one reason they buy more: an expectation that the stock will deliver gains. That’s why insider buying can be more telling than insider selling. Nobody knows High-Yield Investing portfolio holding Kinder Morgan (NYSE: KMI) better than the firm’s Chairman and co-founder Richard Kinder. It speaks volumes that Kinder has been gobbling up huge blocks of KMI shares all year. And he has stepped it up the past couple of months, buying 300,000 shares on October 29, another 300,000 on October 31, another 300,000… Read More

Company executives and board members might sell some of their shares for any number of reasons. But there’s really only one reason they buy more: an expectation that the stock will deliver gains. That’s why insider buying can be more telling than insider selling. Nobody knows High-Yield Investing portfolio holding Kinder Morgan (NYSE: KMI) better than the firm’s Chairman and co-founder Richard Kinder. It speaks volumes that Kinder has been gobbling up huge blocks of KMI shares all year. And he has stepped it up the past couple of months, buying 300,000 shares on October 29, another 300,000 on October 31, another 300,000 on November 11, and then 300,000 more on November 26.  He’s not the only bull in the Kinder Morgan executive lounge. On November 20, director Sarofim Fayez put up $4 million of this own money to buy 200,000 shares near $20 per share. This enthusiastic insider buying is a reassuring vote of confidence. Management continues to “eat its own cooking” and now owns about 15% of the outstanding shares. And I share their optimism wholeheartedly. The Case For KMI Record U.S. natural gas production is playing right into Kinder Morgan’s strength. After all, the firm’s vast pipeline system handles roughly… Read More

I was sipping a frozen cocktail on the deck of the Norwegian Breakaway a few months ago. We were leisurely headed southward to Puerto Rico when, suddenly, I spotted a giant containership off our starboard bow. She was traveling in the opposite direction.  It’s not an uncommon sighting – containerships are the semi-trucks of the sea. Still, I couldn’t help but stare and wonder what goods were stowed inside all those metal boxes. Then, of course, I began to see dollar signs.  After all, several well-positioned companies are converting steady global shipping demand into juicy dividend yields two to three… Read More

I was sipping a frozen cocktail on the deck of the Norwegian Breakaway a few months ago. We were leisurely headed southward to Puerto Rico when, suddenly, I spotted a giant containership off our starboard bow. She was traveling in the opposite direction.  It’s not an uncommon sighting – containerships are the semi-trucks of the sea. Still, I couldn’t help but stare and wonder what goods were stowed inside all those metal boxes. Then, of course, I began to see dollar signs.  After all, several well-positioned companies are converting steady global shipping demand into juicy dividend yields two to three times the market average. —Recommended Link— 5 stocks that will get you through anything How do they do it? Because there is no substitute for them. Everyone buys what they sell, even when money is tight. Including you. You might cancel the Caribbean cruise, but you’re not going to stop paying for this. That nonstop demand means they are kicking the tar out of other stocks. Since early 2000, they have posted a 1,342% gain, towering above the S&P 500’s 178%. Click here to learn more. An Inside Look At Global… Read More

When the going gets tough, the tough go shopping. I recall seeing that on a bumper sticker somewhere. But it could certainly apply to corporate America right now, too. Many businesses are choosing to grow profits the old-fashioned way: by buying them. #-ad_banner-#According to Dealogic, there were 4,545 merger & acquisition (M&A) transactions in the first half of 2019, totaling $1.17 trillion. That’s a 20% increase from the same point last year – and the most active first half on record. Barely a week has gone by without some type of wheeling and dealing. To date, there have been 22… Read More

When the going gets tough, the tough go shopping. I recall seeing that on a bumper sticker somewhere. But it could certainly apply to corporate America right now, too. Many businesses are choosing to grow profits the old-fashioned way: by buying them. #-ad_banner-#According to Dealogic, there were 4,545 merger & acquisition (M&A) transactions in the first half of 2019, totaling $1.17 trillion. That’s a 20% increase from the same point last year – and the most active first half on record. Barely a week has gone by without some type of wheeling and dealing. To date, there have been 22 mega-deals ($10+ billion) announced, accounting for more than $700 billion in dollar value. That’s about one every twelve days on average. Several of my Daily Paycheck holdings have been involved in these colossal deals. And I suspect M&A activity will remain at elevated levels next year. While rising stock market valuations have given some executives pause, funding is still cheap and widely available. Plus, businesses across every industry are aggressively courting partners that will help move the earnings needle or provide a strategic advantage. Small Deals (Like This One) Can Mean Big Gains For every high-profile mega-deal that captures headlines,… Read More

It’s one of the biggest deals in the oil business in years. The question, of course, is whether shareholders will be happy with the end result.  The good news: now that the deal is consummated, we’re about to find out. I’m talking, of course, about Occidental Petroleum’s (NYSE: OXY) recent acquisition of Anadarko Petroleum. The Case For OXY For those who may have missed the news, Occidental finalized its acquisition of Anadarko on August 8th.  I covered the protracted bidding war between Occidental and Chevron in this piece back in May. In it, I discussed Warren Buffett’s financing arrangement with… Read More

It’s one of the biggest deals in the oil business in years. The question, of course, is whether shareholders will be happy with the end result.  The good news: now that the deal is consummated, we’re about to find out. I’m talking, of course, about Occidental Petroleum’s (NYSE: OXY) recent acquisition of Anadarko Petroleum. The Case For OXY For those who may have missed the news, Occidental finalized its acquisition of Anadarko on August 8th.  I covered the protracted bidding war between Occidental and Chevron in this piece back in May. In it, I discussed Warren Buffett’s financing arrangement with Occidental, which helped sweeten the pot and seal the deal. Here’s what I said about the arrangement: Occidental, one of the portfolio holdings in my High-Yield Investing premium newsletter, has since come forward with an offer of $76 per share, or $38 billion. That’s not only more generous than Chevron’s $65 bid, but it also has a higher cash component (50% versus 25%). While Anadarko has rebuffed previous advances from Occidental, in part because of concerns that OXY shareholders might balk, it has no choice but to seriously consider this offer. So how does Warren Buffett fit in? Well,… Read More