Seeing small-caps grind downward day after day is a bummer, so here I am, engaging in a little escapism. Rather than self-flagellate over my latest holding to report decent numbers and promptly trade down 11%, I thought it would be more productive to organize my thoughts on market happenings and as always, the quirks of the micro-cap and OTC markets.
Banks are in a tough spot. I have a fixed-rate mortgage with ~3.25% interest rate with > 10 years to maturity. I am able to pay off the mortgage but instead invest in T-Bills or MMF yielding 5% plus. Further, the bank is offering 7-year notes at 6%. Essentially, I have found myself in the position of becoming the bank with a NIM of ~2% (without the administrative cost or burden to boot).
Not your typical investment and not exactly a secret nano cap, but one of the more rewarding odd-ball company bulletin-board like investments I made was buying Wimbledon debentures a decade ago. The principal financial return comes from receiving the only transferable Wimbledon tickets. The ROIC in the last decade has been very, very good.
On Thrift Conversions, OTC Company Drama, and Seeking Info
Banks are in a tough spot. I have a fixed-rate mortgage with ~3.25% interest rate with > 10 years to maturity. I am able to pay off the mortgage but instead invest in T-Bills or MMF yielding 5% plus. Further, the bank is offering 7-year notes at 6%. Essentially, I have found myself in the position of becoming the bank with a NIM of ~2% (without the administrative cost or burden to boot).
Not your typical investment and not exactly a secret nano cap, but one of the more rewarding odd-ball company bulletin-board like investments I made was buying Wimbledon debentures a decade ago. The principal financial return comes from receiving the only transferable Wimbledon tickets. The ROIC in the last decade has been very, very good.
https://www.wimbledon.com/en_GB/debentures/debenture_trading.html
I do have a question: what's the easiest way you have found to stay up to date with the listings? is kind of a mess