Peanut Convertible Debentures Big Board (as at May 24, 2019)

On the streets in the Horikawa District of Hiroshima, Japan. Copyright © 2018 Felix Choo / dingobear photography.  Picture available for licensing at Alamy Images. Photo may not be reproduced without permission. 

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Hello. This is the 13th update of the Peanut Convertible Debentures Big Board, with data current to May 24, 2019.  For previous versions of the Peanut Big Board, please click here.

Important disclaimers: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information and opinions provided.  Information and opinions reflect our views as of the date provided, but may change without notice.  Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.



A Few Words about the Peanut Convertible Debentures Big Board

For those of you new around here, the Peanut Convertible Debentures Big Board is our attempt at providing a larger list of convertible debentures.  The Peanut Big Board contains some of the same information you'll find in our popular Peanut Convertible Debentures Power Rankings, and this version covers 57 different convertible debenture issues.     

Note the Peanut Big Board is not a complete list of all Canadian convertible debentures, nor is it a replacement for the Peanut Power Rankings, which is more detailed and provides notes and a quantitative estimate of the relative value of the convertible debenture issues that are covered over there. We know that the Peanut Big Board isn't a perfect solution to those of you looking for a carbon copy of the list that used to reside on the pages of the Financial Post, but hopefully you will find utility in its publication here nevertheless.

Let's get to it.  For the Peanut Convertible Debentures Big Board, please click on the table below to read it larger.  If you still find it too small to read, please download the PNG file, which then can be zoomed to a size that you prefer.  

Given the amount of time, effort, and resources that go into maintaining this blog and some of the other key features such as the Peanut Power Rankings and the Peanut Convertible Debentures Index™, at this point it's difficult to commit to a regular schedule in updating the Peanut Big Board.  Since we've introduced it, we've updated it approximately weekly except on those weeks in which the Peanut Power Rankings are published.  For now, we will try to update the Peanut Big Board on roughly that timeframe, but this may change without notice.  Hopefully you find this to be fair; check back regularly for new updates. 
 

Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, advertising, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and have found it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors out there, big or small. We work hard to provide you with good quality information on convertible debentures that may be difficult to source elsewhere.

If you're interested in contributing, please click on the "donate" button below and follow the instructions.  Donations to this blog may be made by credit card or PayPal, and are processed by PayPal as a third-party on a secure platform; we don't ever see or access your credit card number.  We thank you for your continued support - we really appreciate it!

*** 

Peanut Convertible Debentures Big Board (as at May 17, 2019)

In my books, the real double-double is the classic double cheeseburger from In-N-Out Burger.  The above photo of our In-N-Out burgers is also the official In-N-Out Burger photo of the Visit California (State of California Tourism) website.  San Francisco, California. Copyright © 2016 Felix Choo / dingobear photography.  Photo may not be reproduced without permission. 

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Happy Victoria Day weekend. This is the 12th update of the Peanut Convertible Debentures Big Board, with data current to May 17, 2019.  For previous versions of the Peanut Big Board, please click here.

Important disclaimers: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information and opinions provided.  Information and opinions reflect our views as of the date provided, but may change without notice.  Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.



A Few Words about the Peanut Convertible Debentures Big Board

For those of you new around here, the Peanut Convertible Debentures Big Board is our attempt at providing a larger list of convertible debentures.  The Peanut Big Board contains some of the same information you'll find in our popular Peanut Convertible Debentures Power Rankings, and this version covers 56 different convertible debenture issues.     

Note the Peanut Big Board is not a complete list of all Canadian convertible debentures, nor is it a replacement for the Peanut Power Rankings, which is more detailed and provides notes and a quantitative estimate of the relative value of the convertible debenture issues that are covered over there. We know that the Peanut Big Board isn't a perfect solution to those of you looking for a carbon copy of the list that used to reside on the pages of the Financial Post, but hopefully you will find utility in its publication here nevertheless.

Let's get to it.  For the Peanut Convertible Debentures Big Board, please click on the table below to read it larger.  If you still find it too small to read, please download the PNG file, which then can be zoomed to a size that you prefer.  

Given the amount of time, effort, and resources that go into maintaining this blog and some of the other key features such as the Peanut Power Rankings and the Peanut Convertible Debentures Index™, at this point it's difficult to commit to a regular schedule in updating the Peanut Big Board.  Since we've introduced it, we've updated it approximately weekly except on those weeks in which the Peanut Power Rankings are published.  For now, we will try to update the Peanut Big Board on roughly that timeframe, but this may change without notice.  Hopefully you find this to be fair; check back regularly for new updates. 
 

Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, advertising, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and have found it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors out there, big or small. We work hard to provide you with good quality information on convertible debentures that may be difficult to source elsewhere.

If you're interested in contributing, please click on the "donate" button below and follow the instructions.  Donations to this blog may be made by credit card or PayPal, and are processed by PayPal as a third-party on a secure platform; we don't ever see or access your credit card number.  We thank you for your continued support - we really appreciate it!

*** 

May 10, 2019, Quick Update: Peanut Convertible Debentures Power Rankings

Hello.  This is the 42nd update of the Peanut Power Rankings, which takes into account data current to May 10, 2019.  Thank you for continuing to read and support the Canadian Convertible Debentures Project.    

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For a summary of the rankings of our entire convertible debenture coverage universe including the quantitative model prices of, and notes on each issue we follow, click on the table below to view it larger.

For background information on the Peanut Power Rankings, please see our FAQs by clicking here.

Important: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information provided.  Information and opinions reflect our views as of the date provided, but may change without notice.  Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.





Market Commentary - Super Quick Points (May 10, 2019)

• For pretty much the first time in calendar 2019, equity markets looked rather shaky in the last week thanks to US-China trade tensions that were pretty much exclusively caused by the tiresome bluster of the tweeter-in-chief. 
• Broad-brush tariffs form the basis of dubious economic policy, but perhaps something was needed to distract from the executive branch's blatant efforts to stall every attempt of the legislative branch in the US to conduct its constitutional oversight.
• This is now the sad state of US political discourse, I suppose. 
• Dare I say this type of politics is also gaining steam in Canada.  There's so much peddling of easy answers to a angry, misinformed electorate - is "winning" at all costs really winning anything in the end?  Anybody else bracing themselves for an ugly federal election campaign in a few months?  But I digress.
• Politics aside and back on topic, equity markets have gone up far and fast this year, and are due for a breather.  I hesitate to say "sell in May and go away" in part because where else does one go, but things do make me nervous. 
• Thankfully, the economy no longer is pricing in any kind of recession in 2019.  That ultimate central bank put (whether the central bankers like to call it that or not) is definitely helping confidence.
• Bond yields remain almost ridiculously low in Canada, but the yield curve remains flatter than the plains of Saskatchewan, where you can watch your dog run away for a week. 
• So where does that leave a convertible debenture investor? 
• I say: quality, quality, quality ... be careful with the high credit risk names at this point.  Convertible debentures as measured by the Peanut Convertible Debenture Index™ have also done remarkably well thus far in 2019; we cannot expect this pace to continue.
• And as per usual, stay focused on the long-term and protect your capital.

Picture of the Day


Canada Goose goslings are a sure sign of spring.  Edmonton, Alberta. Copyright © 2017 Felix Choo / dingobear photography.  Picture available for licensing at Alamy Images. Photo may not be reproduced without permission. 

Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and find it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors, big or small, out there.  We thank you for your continued support!

*** 

Peanut Convertible Debentures Index™ (April 2019 Review)

In search of zen in faraway lands.  Luang Prabang, Laos. Copyright © 2011 Felix Choo / dingobear photography.  Picture available for licensing at Alamy Images. Photo may not be reproduced without permission. 

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Back in January, we introduced the Peanut Convertible Debentures Index™, which we like to think of as the benchmark convertible debentures index in Canada! For more background on the index, please click here. 

Important disclaimers: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information provided.  Information and opinions reflect our views as of the date provided, but may change without notice.  Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.



Peanut Convertible Debentures Index™ (April 2019 Review)

Correction in late 2018? What correction in late 2018? April marked the fourth straight month of positive performance for North American equities, as the market has apparently decided that the threat of economic recession in 2019 is now in the rear-view mirror and monetary policy will be accommodating for the foreseeable future.  Year-to-date to the end of April, Canadian stocks were up 16.94% as measured by the S&P/TSX Composite Index, which mean it's gone very far, very fast.

Across the Canadian government bond yield curve, rates largely ended the month close to where they began, though with some choppiness in-between.  Sentiment these days seems to be that rates will remain lower than longer, but at this point in the credit cycle, there is some (valid) concern that higher credit risk names might be volatile in the near to medium-term.  If we consider that convertible debentures are, generally speaking, higher yield (i.e. lower credit quality) instruments, this is reason for caution.

This said, however, April was still a positive month for our favourite asset class.  The Peanut Convertible Debentures Index™ tacked on another 0.63% during the month, which qualifies in our  books as pretty decent.  Year-to-date to the end of April, the Peanut Convertible Debentures Index™ was up a heady 5.31%, outperforming the FTSE TMX Canada Convertible Bond Index™ by 0.32%.

Please click on the table below to also see how performance for the Peanut Convertible Debentures Index™ compared with two exchange-listed Canadian convertible debenture ETFs, the iShares Convertible Bond Index (ticker: CVD) and the First Asset Convertible Bond Index (CXF), as well as the FTSE TMX Canada Universe Bond Index™ and the S&P/TSX Capped Composite Index.  Pro tip: if you still find the table below too small to read after clicking on it, please simply download the PNG file, which then can be zoomed to a size that you prefer.

Ok, April was another good month for convertible debentures, but clouds are already forming overhead in May.  As I currently write this on the 7th of May, market worries over US-China trade talks are causing some real nervousness out there, and convertible debentures have not been immune to this week's sell-off.  As with what we've been saying for awhile now, we believe it is prudent to "high grade" portfolios, focus on better quality credit risks, and maintain caution (and cautious expectations) going forward.  Just our two cents

If you're a regular reader of this blog, you are probably already aware that we update the Peanut Convertible Debentures Index™ levels and daily percentage changes on a frequent basis in the dedicated widget on the right sidebar for desktop users and the Peanut Convertible Debentures Index™ page for both desktop and mobile users.  May looks to be a month with some action in the markets.  We will see how convertible debentures do, and then return to do another performance update post in about a month's time.

Until then, good luck with your convertible debenture (and other) investing.
 

Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and have found it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors out there, big or small.

If you're interested in contributing, please click on the "donate" button below and follow the instructions.  Donations to this blog may be made by credit card or PayPal, and are processed by PayPal as a third-party on a secure platform; we don't ever see or access your credit card number.  We thank you for your continued support - we really appreciate it!

*** 

Peanut Convertible Debentures Big Board (as at May 3, 2019)

The old French Riviera, in technicolor. Villefranche-sur-Mer, France. Copyright © 2008 Felix Choo / dingobear photography.  Photo may not be reproduced without permission. 

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Hi again. This is the 11th update of the Peanut Convertible Debentures Big Board, which is current to May 3, 2019.  For previous versions of the Peanut Big Board, please click here. For those of you looking for an update of the Peanut Convertible Debenture Power Rankings, we are currently looking to update those next weekend; thank you for your patience.

Important disclaimers: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information and opinions provided.  Information and opinions reflect our views as of the date provided, but may change without notice.  Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.



A Few Words about the Peanut Convertible Debentures Big Board

For those of you new around here, the Peanut Convertible Debentures Big Board is our attempt at providing a larger list of convertible debentures.  The Peanut Big Board contains some of the same information you'll find in our popular Peanut Convertible Debentures Power Rankings, and this version, like last week's, covers 55 different convertible debenture issues.     

Note the Peanut Big Board is not a complete list of all Canadian convertible debentures, nor is it a replacement for the Peanut Power Rankings, which is more detailed and provides notes and a quantitative estimate of the relative value of the convertible debenture issues that are covered over there. We know that the Peanut Big Board isn't a perfect solution to those of you looking for a carbon copy of the list that used to reside on the pages of the Financial Post, but hopefully you will find utility in its publication here nevertheless.

*** CORRECTION NOTICE. It's been brought to our attention that in our previous versions of the Peanut Big Board, we had incorrectly characterized a couple of the features of the Mogo Finance 6-June-2020 10.0% Convertible Debentures (ticker: MOGO.DB).  First, in a footnote, we had mentioned that the conversion price of MOGO.DB dropped to $4.25 per share after June 6, 2019.  This is not the case.  We misunderstood the prospectus; in fact, the $4.25 conversion price was applicable only in the case of MOGO.DB being soft called within one year of the issue's closing.  This brings us to our second error.  MOGO.DB does, indeed, have a soft call provision (we previously indicated it didn't).  The issuer has the option of soft calling and forcing conversion of MOGO.DB provided that the 20-day volume weighted-average price of MOGO stock exceeds 115% of the conversion price, which, based on the currently applicable conversion price of $5.00, means $5.75 for the purposes of a possible soft call. Hopefully our explanation above makes sense.  For more details, read the Mogo Finance press release from May 8, 2017, by clicking here. We regret our previous errors. We're mammals and, as such, sometimes make mistakes like mammals are apt to do from time to time.  But, that said, we always try to own up to our mistakes. So, if you spot any, please do contact us and let us know.  Thank you. ***

Ok, with that out of the way, for the Peanut Convertible Debentures Big Board, please click on the table below to read it larger.  If you still find it too small to read, please download the PNG file, which then can be zoomed to a size that you prefer.  

Given the amount of time, effort, and resources that go into maintaining this blog and some of the other key features such as the Peanut Power Rankings and the Peanut Convertible Debentures Index™, at this point it's difficult to commit to a regular schedule in updating the Peanut Big Board.  Since we've introduced it, we've updated it approximately weekly except on those weeks in which the Peanut Power Rankings are published.  For now, we will try to update the Peanut Big Board on roughly that timeframe, but this may change without notice.  Hopefully you find this to be fair; check back regularly for new updates. 
 

Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, advertising, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and have found it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors out there, big or small. We work hard to provide you with good quality information on convertible debentures that may be difficult to source elsewhere.

If you're interested in contributing, please click on the "donate" button below and follow the instructions.  Donations to this blog may be made by credit card or PayPal, and are processed by PayPal as a third-party on a secure platform; we don't ever see or access your credit card number.  We thank you for your continued support - we really appreciate it!

*** 

Public Service Announcement: A Full Convertible Debentures List

The Big Smoke, from Lake Ontario-io.  Toronto, Ontario. Copyright © 2019 Felix Choo / dingobear photography.  Picture is available for licensing at Alamy Images. Photo may not be reproduced without permission. 

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As we've mentioned time and time again on this blog, we miss the complete list of convertible debentures that was once upon a time published in the National Post.  In response, we developed the Peanut Convertible Debentures Big Board earlier in the year, but as you regular readers already know, as much as we're proud of the good ol' Peanut Big Board, it doesn't list all of the convertible debentures trading on the TSX.  So what's a convertible debenture investor seeking a full list to do? 

Well, we have good news: thanks to the work of value investor Saj Karsan over at Barel Karsan, a complete list has now been compiled and made available to investing public! You can access the list by clicking here ... as we understand it, the quotes on the list are updated twice daily and new issues are automatically added to the list.  

Standard disclaimer: please note we do not have any relationship with Mr. Karsan and are not responsible in any way for the information on his list or blog.  With that said, we think that his list may be helpful for at least some of you out there who have been seeking a complete convertible debentures list.  As an added bonus, Mr. Karsan's blog appears to have a whole bevy of other interesting goodies and information related to investing.

Cheers!

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Drop Us a Line, Drop Us a Dime

Thank you for reading The Canadian Convertible Debentures Project.  As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules. 

In addition, for media, sponsoring, advertising, and/or financial institution inquiries, please email us at convertibledebs@gmail.com.  We appreciate your interest!

If you enjoy reading this blog and have found it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors out there, big or small. We work hard to provide you with good quality information on convertible debentures that may be difficult to source elsewhere.

If you're interested in contributing, please click on the "donate" button below and follow the instructions.  Donations to this blog may be made by credit card or PayPal, and are processed by PayPal as a third-party on a secure platform; we don't ever see or access your credit card number.  We thank you for your continued support - we really appreciate it!

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