Financial 15 Split Corp (FTN-T) Stock Predictions - Stockchase
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Financial 15 Split Corp (FTN-T)

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Financial Services

Financial 15 Split Corp

FTN-T

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Financial 15 Split Corp (FTN-T) SAVE Apr, 18, 2019, 5:34 pm

8.19 0.02 (0.24%)

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DON'T BUY
Would be concerned about the payout. Seeing a devaluation. He thinks the market’s already turned, but you see it in the financials first because of rising interest rates. The derivatives are the problem, especially with Deutsche Bank with lots of exposure to Italy and Turkey.
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Would be concerned about the payout. Seeing a devaluation. He thinks the market’s already turned, but you see it in the financials first because of rising interest rates. The derivatives are the problem, especially with Deutsche Bank with lots of exposure to Italy and Turkey.
Financial Services
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Jaime Carrasco

Portfolio , Canaccord Genuity...

Price Price
$7.930
Owned Owned
Unknown

COMMENT

Look at risk events. How will this perform in a stress environment? In 2006, this ETF had a nasty drawdown, almost 30-40%. During a recession, would expect similar behaviour. Could be OK for next 6 months.

Financial Services
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Look at risk events. How will this perform in a stress environment? In 2006, this ETF had a nasty drawdown, almost 30-40%. During a recession, would expect similar behaviour. Could be OK for next 6 months.

Financial Services
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$10.190
Owned Owned
Unknown

DON'T BUY

He is not an expert on this holding.  It has a strong yield (around 10%) that attracts many investors.  During the 2016 market meltdown, it fell by about 50%.  So he feels there must be leverage in this product.  He suggests looking into the prospectus to better understand the leverage. 

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He is not an expert on this holding.  It has a strong yield (around 10%) that attracts many investors.  During the 2016 market meltdown, it fell by about 50%.  So he feels there must be leverage in this product.  He suggests looking into the prospectus to better understand the leverage. 

Financial Services
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$10.540
Owned Owned
No

COMMENT

Is the high-yield sustainable?As he understands it, this is a corporate finance, where they will take the common and preferred shares, and lever up the common 2 for 1 in terms of growth, and the preferred shares just get the yield. A very concentrated play on the direction of the underlying basket of common. If you believe those 15 stocks are something to be owning right now, you are going to get some good capital appreciation and the yield is safe. If you go into a bear market with the 15 stocks, your yield is not at all safe. This is not without risk.

Financial Services
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Is the high-yield sustainable?As he understands it, this is a corporate finance, where they will take the common and preferred shares, and lever up the common 2 for 1 in terms of growth, and the preferred shares just get the yield. A very concentrated play on the direction of the underlying basket of common. If you believe those 15 stocks are something to be owning right now, you are going to get some good capital appreciation and the yield is safe. If you go into a bear market with the 15 stocks, your yield is not at all safe. This is not without risk.

Financial Services
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$10.670
Owned Owned
Unknown

COMMENT

As he understands how these split corps work, one gets the dividend and one gets the growth. It depends on what you want out of life. If you want street yield, these manufactured products might be right for you. He doesn’t buy them because he doesn’t like his clients to be paying 2 layers of fees. He isn’t against the product. Dividend yield of 14%.

Financial Services
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As he understands how these split corps work, one gets the dividend and one gets the growth. It depends on what you want out of life. If you want street yield, these manufactured products might be right for you. He doesn’t buy them because he doesn’t like his clients to be paying 2 layers of fees. He isn’t against the product. Dividend yield of 14%.

Financial Services
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David Baskin

President, Baskin Wealth Manage...

Price Price
$10.370
Owned Owned
No

DON'T BUY

It is a company invented by bankers.  They take a collection of companies and package up the stocks and sell out preferred shares and capital shares.  They sell call options to enhance the yield.  They have to maintain a certain net asset value.  The preferred shareholders are protected.  You may suddenly get no yield some quarters.  The fees and the risk are also high, as well as the yield.

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It is a company invented by bankers.  They take a collection of companies and package up the stocks and sell out preferred shares and capital shares.  They sell call options to enhance the yield.  They have to maintain a certain net asset value.  The preferred shareholders are protected.  You may suddenly get no yield some quarters.  The fees and the risk are also high, as well as the yield.

Financial Services
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$10.740
Owned Owned
Unknown

COMMENT

Not a fan of split shares and doesn’t think they are an adequate substitute for GICs or bonds. Their make up is a little convoluted in that there is a Capital Share and a Preferred Share. Effectively all the dividends that come out of the Capital Share get thrown into the Preferred Share. If all those companies don’t do very well, the dividends get cut and the preferred share dividend is susceptible to getting cut as well.

Financial Services
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Not a fan of split shares and doesn’t think they are an adequate substitute for GICs or bonds. Their make up is a little convoluted in that there is a Capital Share and a Preferred Share. Effectively all the dividends that come out of the Capital Share get thrown into the Preferred Share. If all those companies don’t do very well, the dividends get cut and the preferred share dividend is susceptible to getting cut as well.

Financial Services
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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$10.430
Owned Owned
No

COMMENT

This separates the preferred shares from the capital. The dividend is pretty safe, because they are stripping it away from the capital, and it is the banks. The real risk is if you are Long the capital portion, what if you don’t get capital appreciation quickly. These deals last for about 5 years. If you don’t have capital appreciation, and you have embedded fees, the leverage investment on the capital financials won’t work out that well. That is the real risk. Feels the banks are pretty good place to be with interest rates likely to go higher in the next 5 years.

Financial Services
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This separates the preferred shares from the capital. The dividend is pretty safe, because they are stripping it away from the capital, and it is the banks. The real risk is if you are Long the capital portion, what if you don’t get capital appreciation quickly. These deals last for about 5 years. If you don’t have capital appreciation, and you have embedded fees, the leverage investment on the capital financials won’t work out that well. That is the real risk. Feels the banks are pretty good place to be with interest rates likely to go higher in the next 5 years.

Financial Services
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$10.420
Owned Owned
Unknown

COMMENT

Believes that they issue preferred shares, and then common shares alongside. Then they take the preferred share capital and double up on the dividend yield. If that is correct, then he personally believes it is probably okay, but he would rather go with just picking your own bank. If you want more of a yield you can use more leverage to do that, and thinks you are going to be better off longer-term.

Financial Services
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Believes that they issue preferred shares, and then common shares alongside. Then they take the preferred share capital and double up on the dividend yield. If that is correct, then he personally believes it is probably okay, but he would rather go with just picking your own bank. If you want more of a yield you can use more leverage to do that, and thinks you are going to be better off longer-term.

Financial Services
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$8.250
Owned Owned
Unknown

DON'T BUY
Financial 15 Split Corp(FTN-T) 

November 23, 2015

14.5% yield.  Look back further than a couple of years.  The averaged yield has been 3%.  In the ’08 crisis they went from about $18 to about $2.  He believes they are paying out capital gains in their underlying companies.  In the last few years there was no crisis so there was little risk.

Financial Services
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14.5% yield.  Look back further than a couple of years.  The averaged yield has been 3%.  In the ’08 crisis they went from about $18 to about $2.  He believes they are paying out capital gains in their underlying companies.  In the last few years there was no crisis so there was little risk.

Financial Services
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$10.030
Owned Owned
Unknown

COMMENT

With 14% yield it must be returning some capital.  It is a closed-end fund so be careful.  Split share companies give the dividends to one share and the growth to the other.

Financial Services
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With 14% yield it must be returning some capital.  It is a closed-end fund so be careful.  Split share companies give the dividends to one share and the growth to the other.

Financial Services
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$10.200
Owned Owned
Unknown

DON'T BUY

These “split share” structures are not his favourite. Offer high yields, but they split into common and preferred shares and everything is done to protect the preferred shares. If NAV declines to a certain point, the common share completely stops. The yield is great until something goes wrong. You are paying a management fee to hold a group of 15 stocks. If you are dealing with a discount broker, you can buy your own 15 stocks very, very cheaply and never pay a management fee again.

Financial Services
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These “split share” structures are not his favourite. Offer high yields, but they split into common and preferred shares and everything is done to protect the preferred shares. If NAV declines to a certain point, the common share completely stops. The yield is great until something goes wrong. You are paying a management fee to hold a group of 15 stocks. If you are dealing with a discount broker, you can buy your own 15 stocks very, very cheaply and never pay a management fee again.

Financial Services
0 0 0 0 0
0 comments
Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$8.800
Owned Owned
No

DON'T BUY

These engineered instruments are not his favourite things. They carry an embedded management fee which takes away from the eventual return to the shareholder. By buying all 6 banks and the 5 biggest banks in the US and insurance companies, it basically does pretty much the same as an exchange traded fund would do, but with a higher expense. You have to understand that the 14.7% dividend is not a dividend as you would normally understand, but is a distribution and is made up by a number of components. There is also a little bit of income from selling Covered Calls.

Financial Services
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These engineered instruments are not his favourite things. They carry an embedded management fee which takes away from the eventual return to the shareholder. By buying all 6 banks and the 5 biggest banks in the US and insurance companies, it basically does pretty much the same as an exchange traded fund would do, but with a higher expense. You have to understand that the 14.7% dividend is not a dividend as you would normally understand, but is a distribution and is made up by a number of components. There is also a little bit of income from selling Covered Calls.

Financial Services
0 0 0 0 0
0 comments
David Baskin

President, Baskin Wealth Manage...

Price Price
$10.230
Owned Owned
No

BUY
Financial 15 Split Corp(FTN-T) 

December 19, 2013

These are 15 banks, both Canadian and US and an interesting way to play the financial sector, purely from the banking side. They have taken 15 banks and split out the capital gains and growth of the dividends as one share class, the Capital Share. They have taken the dividends alone into the Preferred Share calling it the Preferred Class. What is interesting is that the US banks are not paying very rich dividends now, mainly because they have to get approval from a number of different regulators. There is an expectation that there may be more of this next year. Most of the dividends on the preferred shares are coming from the Canadian banks of about 3%-4%. In effect, they are lowering the cost of the stocks so that fixed dividend on a lower cost base gives you a higher yield on a preferred share of about 5.2%. Anything that grows beyond that accrues to the capital share. Canadian stocks have been raising dividends, hence the higher yield and there is a potential that US banks could start paying some interesting dividends next year.

Financial Services
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These are 15 banks, both Canadian and US and an interesting way to play the financial sector, purely from the banking side. They have taken 15 banks and split out the capital gains and growth of the dividends as one share class, the Capital Share. They have taken the dividends alone into the Preferred Share calling it the Preferred Class. What is interesting is that the US banks are not paying very rich dividends now, mainly because they have to get approval from a number of different regulators. There is an expectation that there may be more of this next year. Most of the dividends on the preferred shares are coming from the Canadian banks of about 3%-4%. In effect, they are lowering the cost of the stocks so that fixed dividend on a lower cost base gives you a higher yield on a preferred share of about 5.2%. Anything that grows beyond that accrues to the capital share. Canadian stocks have been raising dividends, hence the higher yield and there is a potential that US banks could start paying some interesting dividends next year.

Financial Services
0 0 0 0 0
0 comments
Richard Croft

President, R.N. Croft Financial...

Price Price
$8.950
Owned Owned
No

COMMENT
(15 financials.) This is a split trust meaning there is a capital holder and a preferred share holder. The preferred shareholder has a guarantee. This would be appealing to someone who wants to take more risk. Chart shows a big drop from $11.90 to $3.76 this year. Suspects that insurance companies are having this affect. Has found some support. If you buy, have a Stop at $3.35 but he can see this going back up to $5 pretty quickly.
Financial Services
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(15 financials.) This is a split trust meaning there is a capital holder and a preferred share holder. The preferred shareholder has a guarantee. This would be appealing to someone who wants to take more risk. Chart shows a big drop from $11.90 to $3.76 this year. Suspects that insurance companies are having this affect. Has found some support. If you buy, have a Stop at $3.35 but he can see this going back up to $5 pretty quickly.
Financial Services
0 0 0 0 0
0 comments
Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$3.760
Owned Owned
Unknown

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