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Specialty insurance company Global Indemnity plc has sold a new $25 baby bond offering.Details of the offering are here.This issue has been trading on the NASDAQ for 3-4 days.Global Indemnity is a smaller (but nicely profitable) specialty insurer.  They currently have no other preferred or baby bond issues outstanding.This issue has a little longer duration than we would like (maturity 2045), but…

 Date Issued   8/5/2015Shares Issued  4,000,000  Overallotment shares  600,000S&P Rating   NR   Moodys Rating   NRSecurity Ticker Symbol   GBLIZ   Market Traded ON   NASDAQInterest Payment Paid on the 15th of February, May, August and November beginning on 11/15/2015Quarterly Interest   .484   Annual Interest   1.9375Securities may be redeemed, at the issuers option, as early as 08/15/2020 for a redemption price of $25/share plus accrued interestInterest Payment Will NOT be a Qualified Distribution (It…

Tonight after a giant sized crude oil price fall today (8%) prices are continuing to fall as the American Petroleum Institute (API) announced a huge build of 7.6 million barrels last week.  West Texas crude is now trading down another couple percent after hours. This is almost a huge $5/barrel drop in total.Only yesterday we warned that the spiking prices…

As we had previously mentioned we would reduce our position in Proshares Ultra Short SP500 (ticker:SDS) with the next market drop and thus did reduce by 25% today.  Originally we had thought of reducing by 1/3rd, but with the modest drop in the markets we cut our reduction a little.As previously written about the problem with a successful hedge is…

Certainly everyone has noticed the spiking crude oil price the last 2 days. We would contend that oil is spiking for the same reason that stocks are moving violently--traders riding the wave and pushing prices to extremes. This isn't a game that individual investors should even be contemplating getting into--if you are a speculator fine--if you fancy yourself a income…