I've been on a complete tear since I found your channel in terms of soaking up all of these available videos and in many cases are watching certain videos multiple times. It was mentioned a few videos back that there may be an "investing class" in the works. Are there any updates on when that would become a reality / what the subject matter would be for said class(es)? I may not be as financially savvy as some of the other viewers here in terms of things that might be considered basics, but if that is the audience that the class is tailored for, I'm incredibly interested. Thanks, Chuck! Loving your content!
Ryan Mitchell: the FAST Graphs Value you Academy will be a comprehensive curriculum on how to read and interpret financial statements, principles of valuation in general investment strategies. We intend to launch it in conjunction with the launch of our new and improved FAST Graphs. Although the course will be offered free to all comers, it is also designed to be best utilized in conjunction with FAST Graphs which of course requires a subscription. However, a subscription is not necessary to benefit from the Academy. Here is a link to some preview videos we previously produced: ruclips.net/p/PLwEgDTtk1-mHTs5ESBhrdcs3piQd5Z8_Y
your videos are so valuable it's unreal. Also, would love to see an issue with fast graphs fixed, idk if others are having this same issue - the "keep me logged in" feature does not work. Currently if the system has auto logged me out it does not even tell me, until I look up a specific symbol. Then it loads, realizes im not logged in and brings me to the login screen. THEN i have to type the ticker again AFTER waiting for whatever ticker was previously entered to load....AGAIN
alex stewart: I hope this doesn't anger you, but that is a known bug on our current system that we will not be fixing. Our new version will work significantly better and I have all of our developers working feverishly to get it launched. I hope you are willing to be patient because the new version is extraordinary. Regards, Chuck
There should be a big warning for all MLPs for non US investors!! The withdrawal taxes are almost 40 % instead of 15. EPD was my last MLP ever - if I don't move there someday heh!
You do not have to buy the MLP. There is Brookfield Renewable Corporation (BEPC) and Brookfield Infrastructure Corporation (BIPC). Both are Canadian Corp listed at the New York Stock Exchange. I think the MLPs in this case are registered in Bermudas anyway. I own all four of them, so far no problems (Germany, Europe).
@@HenningYT I'm also in Germany and got a notice from my broker (Consorsbank) that starting in 2022, there would be an additional 10% US tax on Limited Partnerships. I own both BEP and BEPC, but the letter only pointed out that BEPC would receive this additional tax, not sure on why or what the new law coming into effect in 2022 does, but I assume it's accurate. Any thoughts?
@@RedditFam I use DeGiro for most of my US / Canada stocks although I am not sure if I would recommend it. Tax is about 38% with the option to get 10% back from the Canadian tax office. It is worse than US stocks but so far not different from other Canadian companies.
@@UntitledPanda So far I did not get any notice but some quick investigations show that indeed there could be changes coming in 2022. There are some companies I do want to own anyway, Brookfield ist one of them. They are extremely well managed.Bruce Flatt is one of the smartest person I am aware of (CEO Brookfield Asset Management).
Glad to have your thoughts on both of theses. Long both on the TSX. I always have a tough time getting a fair value estimate of BIP I am confident with. I have a request for future reviews. Would be interesting to have your thoughts on 2 Canadian telecom, Telus and BCE (both are dual listed). With both of theses, I get a very different fair value estimate depending on the valuation metric I use (Adjusted operating earning vs operating cash flow).
Jérôme Lebel: I think I get what you're saying. However, often when utilizing operating cash flow the normal valuation line (the blue line) will be more useful and it will correlate more closely with what you see on earnings. When you're evaluating dividend paying stocks the operating cash flow metric is very useful in determining dividend coverage. In other words, are the cash flow significantly above the white dividend line. To summarize, if you look at TELUS based based on the blue line, the valuation reference will be very similar to what you see with operating earnings. I hope that helps clarify things for you. Regards, Chuck
@@FASTgraphs thank you so much for getting back to me. I was probably not clear in my question above. In short, I am looking at the blue line for a 13y timeframe. I am correct to say that in theses cases OCF is a better valuation metric than operating earnings?
I believe these are both Canadian companies, with the associated tax withholding for U.S. residents. Also, I don't regard K-1 forms as a hindrance. In my experience, most arrive by April 1st and are accurate.
I own mmp and epd and get k1s for both. I take them to my tax lady at hr block and no big deal what so ever other then you gotta wait little longer for them to come then a 1099 div regular forms. Both have gone up in share price and both pay huge raising payout distributions. I don’t plan on selling either one ever. Maybe 1 of them years from now if goes up a ton but doubt it.
Once again an excellent video that I thoroughly enjoyed and appreciated. I hate to have to remind you that even though you called it a distribution on the beginning of the video, when comparing it to the S&P in the performance area, you treated the distribution as if it were a dividend. With all respect, the greatest portion of the distribution is a return of capital which lowers your basis. That fact makes it very different from a dividend and should not compare to the dividend from the S&P 500. This is a common mistake made by most investors in MLPs. Check your K-1s to see how much of the distribution can truly be considered a dividend.
Rohrshack Rohrshack: I understand what you're saying and I agree. However, the only reason we utilize a comparison to the S&P 500 is to provide perspective of performance comprised of income (dividend or distribution is irrelevant) plus capital appreciation. In other words, it is simply a crosscheck not meant to be too precise. Regards, Chuck
Chuck, thank you for your reply. Would it be possible to subtract the %age of distribution that is a return of capital in order to compare the remainder to the S&P 500 dividend ? In that way you are comparing apples to apples and not to oranges. It would still be an estimate but much closer to reality!
Thank you Chuck for your insightful videos. I am trying to analyze some midstream companies (KMI, PBA, ENB and keyera) to invest in. Is the operating cash flow a good metric for this? Using the adjusted earnings shows an overall overvaluation.
DevTech: in a word yes, but also EBITDA and sales or revenues. You can also look at the price relative to the white dividend line give you a valuation perspective since most are income investments. Of course KM I is now I see Corp.
Interesting that this was don in isolation from BIPC and BEPC since the k-1 was mentioned several times as a pain point yet didnt even mention the fact that you can invest in the same exact company without it.
@@FASTgraphs Dear Chuck, I appreciate that very much. Can you do a video on certain food related stocks such as INGR, BJ and ADM? In your analysis using Fastgraph, can you explain the significance of the different lines such as the blue and orange line? Does the blue line represent the historical PE of the company as evaluated by the market? Does the orange line represent the theoretical PE of the company? And does the orange line represent the theoretical fair value? Thanks!
@@myhouse-yourhouse I have lots of ENB. KMI is also good. No K-1. I'll look at those two you mentioned. Thanks. B/P is going renewable and is not a K-1 either.
So excited that you did this! I have been waiting!
I hold Brookfield Renewable Corporation, even though it trades at a premium to the LP. As a non US citizen that is the only convenient way.
Thank you so much for sharing your thinking and analysis.
I've owned both in the past and was happy. What do you think of Shell Midstream? They seem pretty solid.
I've been on a complete tear since I found your channel in terms of soaking up all of these available videos and in many cases are watching certain videos multiple times. It was mentioned a few videos back that there may be an "investing class" in the works. Are there any updates on when that would become a reality / what the subject matter would be for said class(es)? I may not be as financially savvy as some of the other viewers here in terms of things that might be considered basics, but if that is the audience that the class is tailored for, I'm incredibly interested. Thanks, Chuck! Loving your content!
Ryan Mitchell: the FAST Graphs Value you Academy will be a comprehensive curriculum on how to read and interpret financial statements, principles of valuation in general investment strategies. We intend to launch it in conjunction with the launch of our new and improved FAST Graphs. Although the course will be offered free to all comers, it is also designed to be best utilized in conjunction with FAST Graphs which of course requires a subscription. However, a subscription is not necessary to benefit from the Academy. Here is a link to some preview videos we previously produced: ruclips.net/p/PLwEgDTtk1-mHTs5ESBhrdcs3piQd5Z8_Y
@@FASTgraphs Thanks for the info, Chuck. Invaluable and appreciated beyond words.
Thumbs up!
your videos are so valuable it's unreal. Also, would love to see an issue with fast graphs fixed, idk if others are having this same issue - the "keep me logged in" feature does not work. Currently if the system has auto logged me out it does not even tell me, until I look up a specific symbol. Then it loads, realizes im not logged in and brings me to the login screen. THEN i have to type the ticker again AFTER waiting for whatever ticker was previously entered to load....AGAIN
alex stewart: I hope this doesn't anger you, but that is a known bug on our current system that we will not be fixing. Our new version will work significantly better and I have all of our developers working feverishly to get it launched. I hope you are willing to be patient because the new version is extraordinary. Regards, Chuck
@@FASTgraphs oh not at all, looking forward to the new version!
There should be a big warning for all MLPs for non US investors!! The withdrawal taxes are almost 40 % instead of 15. EPD was my last MLP ever - if I don't move there someday heh!
You do not have to buy the MLP. There is Brookfield Renewable Corporation (BEPC) and Brookfield Infrastructure Corporation (BIPC). Both are Canadian Corp listed at the New York Stock Exchange. I think the MLPs in this case are registered in Bermudas anyway. I own all four of them, so far no problems (Germany, Europe).
Henning, so what was your effective tax rate and what broker do you use to trade?
@@HenningYT I'm also in Germany and got a notice from my broker (Consorsbank) that starting in 2022, there would be an additional 10% US tax on Limited Partnerships. I own both BEP and BEPC, but the letter only pointed out that BEPC would receive this additional tax, not sure on why or what the new law coming into effect in 2022 does, but I assume it's accurate. Any thoughts?
@@RedditFam I use DeGiro for most of my US / Canada stocks although I am not sure if I would recommend it.
Tax is about 38% with the option to get 10% back from the Canadian tax office. It is worse than US stocks but so far not different from other Canadian companies.
@@UntitledPanda So far I did not get any notice but some quick investigations show that indeed there could be changes coming in 2022. There are some companies I do want to own anyway, Brookfield ist one of them. They are extremely well managed.Bruce Flatt is one of the smartest person I am aware of (CEO Brookfield Asset Management).
GW is Gigawatts of electricity generating capacity.
Glad to have your thoughts on both of theses. Long both on the TSX. I always have a tough time getting a fair value estimate of BIP I am confident with. I have a request for future reviews. Would be interesting to have your thoughts on 2 Canadian telecom, Telus and BCE (both are dual listed). With both of theses, I get a very different fair value estimate depending on the valuation metric I use (Adjusted operating earning vs operating cash flow).
Jérôme Lebel: I think I get what you're saying. However, often when utilizing operating cash flow the normal valuation line (the blue line) will be more useful and it will correlate more closely with what you see on earnings. When you're evaluating dividend paying stocks the operating cash flow metric is very useful in determining dividend coverage. In other words, are the cash flow significantly above the white dividend line.
To summarize, if you look at TELUS based based on the blue line, the valuation reference will be very similar to what you see with operating earnings. I hope that helps clarify things for you. Regards, Chuck
@@FASTgraphs thank you so much for getting back to me. I was probably not clear in my question above. In short, I am looking at the blue line for a 13y timeframe. I am correct to say that in theses cases OCF is a better valuation metric than operating earnings?
Very pleased with my BIP & BIPC. Thank you for your input. A bit rich,though.
I'm so glad I found you! 😍
Went very long BIP during the crash last year and dont regret it. But I dont have BEP ( yet ? ). If BEP moves to fair value I might pick some up.
I believe these are both Canadian companies, with the associated tax withholding for U.S. residents. Also, I don't regard K-1 forms as a hindrance. In my experience, most arrive by April 1st and are accurate.
Leo: that is fine, but I can tell you from personal experience many investors disagree and hate K-1's.
I own mmp and epd and get k1s for both. I take them to my tax lady at hr block and no big deal what so ever other then you gotta wait little longer for them to come then a 1099 div regular forms. Both have gone up in share price and both pay huge raising payout distributions. I don’t plan on selling either one ever. Maybe 1 of them years from now if goes up a ton but doubt it.
Once again an excellent video that I thoroughly enjoyed and appreciated. I hate to have to remind you that even though you called it a distribution on the beginning of the video, when comparing it to the S&P in the performance area, you treated the distribution as if it were a dividend. With all respect, the greatest portion of the distribution is a return of capital which lowers your basis. That fact makes it very different from a dividend and should not compare to the dividend from the S&P 500. This is a common mistake made by most investors in MLPs. Check your K-1s to see how much of the distribution can truly be considered a dividend.
Rohrshack Rohrshack: I understand what you're saying and I agree. However, the only reason we utilize a comparison to the S&P 500 is to provide perspective of performance comprised of income (dividend or distribution is irrelevant) plus capital appreciation. In other words, it is simply a crosscheck not meant to be too precise. Regards, Chuck
Chuck, thank you for your reply. Would it be possible to subtract the %age of distribution that is a return of capital in order to compare the remainder to the S&P 500 dividend ? In that way you are comparing apples to apples and not to oranges. It would still be an estimate but much closer to reality!
Thanks for the latest reviews. Please consider a review of IEP. Thanks
If you don’t like K1s look at the corporation equivalent BIPC and BEPC.
Thank you Chuck for your insightful videos. I am trying to analyze some midstream companies (KMI, PBA, ENB and keyera) to invest in. Is the operating cash flow a good metric for this? Using the adjusted earnings shows an overall overvaluation.
DevTech: in a word yes, but also EBITDA and sales or revenues. You can also look at the price relative to the white dividend line give you a valuation perspective since most are income investments. Of course KM I is now I see Corp.
@@FASTgraphs thanks, finally I got a powerful tool to analyze midstream companies.
Another great video!! My request would be GARP stocks. Thanks
Thanks for your professional opinion,I have BIP and I am satisfied with return, can you please share your opinion on MGA. Thanks
Isn’t bepc the one that isn’t a MLP
Curious if you still like $epd valuation at these levels? Will have to consider these 2
TipRanks loves EPD
Big Mike: in a word yes. However, out past 2022 analysts are forecasting a cut in EBITDA. Some caution and monitoring is required.
Interesting that this was don in isolation from BIPC and BEPC since the k-1 was mentioned several times as a pain point yet didnt even mention the fact that you can invest in the same exact company without it.
may i know how do i send you a subscriber request? through patreon's email?
James: you do it right here in this comment thread. Regards, Chuck
@@FASTgraphs Dear Chuck, I appreciate that very much. Can you do a video on certain food related stocks such as INGR, BJ and ADM? In your analysis using Fastgraph, can you explain the significance of the different lines such as the blue and orange line? Does the blue line represent the historical PE of the company as evaluated by the market? Does the orange line represent the theoretical PE of the company? And does the orange line represent the theoretical fair value? Thanks!
No K-1's. But thank you.
BIPC and BEPC have no K1
@@myhouse-yourhouse I have lots of ENB. KMI is also good. No K-1. I'll look at those two you mentioned. Thanks. B/P is going renewable and is not a K-1 either.
would love to get your opinion on the hobby store $JOAN. Lots of debt but some pretty monster growth coming, and an insane PE of 3.41
Chuckster