Wes,

"It probably is a bit worrisome right now to anyone with a large holding who is taking all the dividends in cash."

I no longer hold ADVDX, but hold AOD and AWP instead.  Nevertheless, ADVDX has NOT cut it's yield distribution, so someone holding ADVDX for that distribution has not been disappointed!  It is ALWAYS worrisome to someone holding an assets with a decent yield distribution that the distribution may be cut.  It is usually not worrisome for that same investors that the maket is evaluating that distribution differently now, then before.

At least IMHO!

Eadix has proven to be a much more rational investment.

Word is Eaton Vance is about to enter the 'Managed ETF' business. An ETF version of Eadix would be sweet.......(No Load/ Low ER).

Stay tuned!

t

ElLobo; I see that you now hold AOD and AWP: which of the Alpine funds would you purchase today if you didn't own either of them. Thanks Family

Family,

I don't hold ADVDX because I have no money in a taxable account.  About half of my portfolio is in tax deferred accounts, half in Roth.  So, I have no need to worry about the 61 day tax qualification constraint with ADVDX. And AGD is the closed ended version of ADVDX.  The lack of that constraint would seem to free up Alpines hands to not worry about capital gain/loss considerations as it rotates through its holdings.

Here is a comparison of the 3 Alpine CEFs.

I would still purchase AWP and AOD.  I choose my holding in AWP since it is part of my real estate sector holdings.  It is about 5% of my portfolio.  A domestic real estate CEF, NRO, is about 6%.  So, AWP gives me both foreign/domestic diversification, as well as dividend capture.

If I were to add to my Alpine holdings, it would be AOD.  Currently, AOD is not quite 3% of my portfolio.  I would feel comfortable bumping that up to 6%.  If I added to AWP, it would only be 1% or so (to equal NRO).

If I were to have significant taxable monies, I would go with ADVDX or AGD (depending on the premium/discount of AGD over its NAV).

El Lobo,

Over on the CEF board recently was a rather excited discussion of AWP.  Several were less-than-overwhelmed by the management style, which they feel has led to the loss of NAV since the IPO.  If I'd bought at the IPO, I might also be a little miffed, even allowing for the disastrous run Real Estate has endured for the last year.

I don't currently hold any Real Estate stocks or funds, except O, but I've been following AWP, IGR, & RWF for quite a while, hoping to get lucky with a little market timing. 

Did you purchase AWP at the IPO or pick some up on the dip?  Do you have any opinion about the manager's "style"?

Zwilnik

Taylor, 

"Eadix has proven to be a much more rational investment."

 ADVDX has a yield of 18.9% and it's NAV has lost 35% over the last year.EADIX has a yield of 6.9% and it's NAV has lost 21% over the last year.Yeah,it's more conservative,but I don't neccessarily see it as better or more rational.I suppose it all depends on your need and risk tolerance.-wes

Zwilnik,

"Did you purchase AWP at the IPO or pick some up on the dip?  Do you have any opinion about the manager's "style"?"

I held several individual REITs, from mid 2003 to Jan of this year.  I sold them all, and moved that money into NRO and AWP.

I general, I am a big, convinced fan of the Alpine strategy for increasing the yield they receive from their holdings.  I recently tried an experiment in dividend capture, and wasn't able to make a go of it.

As a general rule you never buy CEF'S at IPO b/c the brokerages have to get their commission and they're going to settle down to a discount when the brokerages stop supporting the price after 3-4 months.. After the discount has been established, you consider your buy point. AOD, AWP, IGR, RWF, AGD have essentially been moving lockstep when you look at the total return charting. AOD jumped 3.43% yesterday in after hours trading. I didn't look at any of the others individually. I'm guessing the move is the result of the government action on Fannie/freddie. AWP has been moving up against the current in the last week or so. I bought more IGR recently but not based on the charts, just a long term deployment of a little bit of money. FWIW Roberta

It was nice to see ADVDX go up from 7.59 to 8.28 the last 2 days for a 9% pop in tandem with the market.

I'm hopeful  that when ?? the bear market ends its NAV should increase nicely. 

Gene

so, when is the bear market going to end? :)

Also, what happens to dividend plays if Obama comes to power and cap gains tax is increased?

So far, I'm long on ADVDX and I feel they should be able to keep up the dividends as long as companies they invest in continue the pay outs regardless of where the economy goes.

ADVDX is trading like a speculative stock.  I could care less about the dividend if it continues to lose NAV.  ADVDX on paper sounds good, but the NAV cannot continue to drop.  It should stay at 10 at least.  I'm hoping we'll get back to 8-9 for the remainder of the funds life. 

I keep putting money into ADVDX on drops in price, but I'm evisioning scenarios where the stock drops to nothing.  I'll have about 4K shares at the end of 2008, but it won't mean a lot if nav drops furthur.  I'd rather have a smaller dividend payout in order to keep a stable NAV. 

 I'm hoping in 10 -20 years, ADVDX is still around and the present economic nightmare was just a bad dream.  In the meantime, I'm still adding money.  But it's almost like I'm shoveling cash into a burning house. 

 In the meantime, I'll continue adding 1K shares a year to this dangerous financial experiment called ADVDX. 

Staying with ADVDX is like a domestic violence situation.  You don't know why you are staying in this bad situation. 

PS GO Greg Maddux !  An amazing pitcher.

GO GREG MADDUX AND LA DODGERS!!!!
GO GREG MADDUX AND LA DODGERS!!!!
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