Peanut Convertible Debentures Index™ Changes Announcement (January 10, 2020)

Ice climbin'. Maligne Canyon, Jasper National Park, Alberta.  Copyright © 2014 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 just a quick post to let you know that effective January 10, 2019, we made the following changes to the Peanut Convertible Debentures Index™:

• Added: Theratechnologies, 5.75% 30-June-2023 US Dollar Convertible Debentures (TH.DB.U)
• Deleted: Morneau Shepell, 4.75% 30-June-2021 Series 'A' Convertible Debentures (MSI.DB.A)

For more information on the Peanut Convertible Debentures Index™, please click here.

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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.

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!

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Peanut Convertible Debentures Index™ (December 2019 Review)

Daybreak over the Baie de Anges (Bay of Angels).  Nice, France. Copyright © 2008 Felix Choo / dingobear photography.  Picture available for licensing at Alamy Images. Photo may not be reproduced without permission. 

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It's been a year since we introduced the Peanut Convertible Debentures Index™, your benchmark convertible debentures index.  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™ (December 2019 Review)

The Canadian stock market edged higher in December while Canadian universe bonds corrected somewhat.  So happens, convertible debentures outperformed both asset classes.  The Peanut Convertible Debentures Index™ climbed 1.42% higher during the month, and registered an impressive 13.44% return for calendar 2019.  For the year, the Peanut Convertible Debentures Index™ exceeded the FTSE TMX Canada Convertible Bond Index™ by 355 basis points or 3.55%.

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 CI 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.

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.

We will try 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!

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Peanut Convertible Debentures Power Rankings (January 10, 2020)

2019 was a difficult year for many.  We all look forward to a better 2020.  Fusaki Beach, Ishigaki, Okinawa, 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 47th update of the Peanut Power Rankings and the first of the New Year; this version takes into account available data current to January 10, 2020.  Thank you for continuing to read and support the Canadian Convertible Debentures Project.

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To review and for those new around here, let's do a quick summary of what the Peanut Power Rankings are all about. In a nutshell, the rankings are based on two main considerations: (1) a proprietary quantitative model I developed to help myself determine a theoretical "fair value" of a particular convertible debenture issue and (2) a qualitative judgment (based solely on my own humble opinion) on the particular issue, issuer, economic environment, interest rates, and other factors.

For this version of the Peanut Power Rankings, 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.  For those who are looking to obtain a PDF or Excel version, please email us for more information; they can be made available for a small fee (let's say $5 but I won't complain if you want to pay more :)

For more 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 (and do!) 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 - Quick Points (January 10, 2019)

• Early in 2020, the deluge of news continues unabated and there's geopolitical risk everywhere, but the markets seem desensitized to it all and keep going higher. 
• No doubt both stock and fixed income markets have been driven by dovish monetary policy from the world's major central banks - the world is awash in liquidity.  But is it needed? 
• Maybe, but that's a matter of perspective, I suppose.  There sure seems to be a vacuum of leadership in the Western world, and easy money from the central banks seem to be covering up questionable (or downright terrible) decisions of political leaders who seem to put power, greed, and political expediency above advancing the interests of society as a whole.
• In the US, record deficits in the neighbourhood of a trillion(!) dollars provide additional sugar to the market rush.  Unemployment is low and GDP growth buoyant, but is it being propped up by all of the stimulus or actual fundamentals? 
• It'll be interesting to see what earnings look like when Q4 2019 results start to be reported in a few weeks.  Those companies with monopoly-life market power (for example, the Amazons, Apples, and Googles of the world) will probably continue to earn disproportionate profits - interestingly reflecting the imbalances between haves and have nots in society at large.  But will there be breadth in earnings growth as the economic expansion continues into its 12th year? 
• Depending on how one defines a bull market, this is either the longest or second longest bull market in the last 100 years, and as we all know, bull markets don't last forever.  Equity valuation remain elevated as measured by the CAPE ratio, and we remind everyone that it's a US Presidential election year with the most volatile incumbent in recent or distant memory.  
• Relative to last summer, recession clouds have lifted a bit thanks to the aforementioned central banks and reported progress on the trade front (though it can be argued that trade issues were self-inflicted to begin with - i.e., create an artificial crisis, solve it, win political points, get re-elected, lather, rinse, and repeat). 
• Meanwhile, Australia burns, the climate is changing, and many continue to deny it, not able to bridge the cognitive dissonance between the reality of facts and the alternative reality of alternate facts.  
• Recent Middle East tensions with a country that starts with "Ira" suggest it's deja vu all over again, reminiscent of the last two Republican Presidents.  Risks of a wider military conflict have been elevated, though the cynical suggest this is only to distract from the impeach-y situation back on the domestic front. 
• Clearly, there is a lot of information to sift through here for the average investor - it's enough to make anyone's head spin.  So what's a convertible debenture investor to do? 
• Well, sorry to be boring, but the advice is still (still!) the same: diversify widely and focus on good credit quality issues.  There are plenty of potential pitfalls for investors in 2020, and after more than a decade of positive returns, we think its prudent to be more risk-adverse than risk-seeking.
• Happy investing and good luck with your convertible debentures in 2020.

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!

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Peanut Convertible Debentures Index™ Changes Announcement (December 31, 2019)

Carrying the world on her back. Cloud Gate, Millennium Park, Chicago, Illinois.  Copyright © 2012 Felix Choo / dingobear photography.  Picture available for licensing at Alamy Images. Photo may not be reproduced without permission. 

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Hi, all.  Happy New Year.  This is just a quick post to let you know that effective December 31, 2019, we've made the following changes to the Peanut Convertible Debentures Index™:

• Added: Exchange Income Corporation, 5.75% 31-March-2026 Series 'K' Convertible Debentures (EIF.DB.K)
• Added: Alaris Royalty, 5.50% 30-June-2024 Convertible Debentures (AD.DB)
• Added: Mullen Group, 5.75% 30-November-2026 Convertible Debentures (MTL.DB)
• Deleted: Cargojet, 4.65% 31-December-2021, Series 'C' Convertible Debentures (CJT.DB.C)
• Deleted: Rogers Sugar, 4.75% 30-June-2025, Seventh Series (Series 'F') Convertible Debentures (RSI.DB.F)
• Deleted: Surge Energy, 5.75% 31-December-2022, Convertible Debentures (SGY.DB)

For more information on the Peanut Convertible Debentures 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.

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!

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