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income producing portfolio The Invesco Van Kampen Bond Fund (VBF).

The BlackRock Corporate High Yield Fund (HYT) The Western Asset High Income Opporutnity Fund (HIO) The Invesco Van Kampen Credit Opportunity Fund (VTA) The Morgan Stanley Emerging Markets Domestic Debt Fund (EDD) The John Hancock Preferred Income Fund (HPS). elow are several companies building future returns with higher cash dividends: BCE (BCE) is a Canadian wireline and wireless telecommunications company. December 10th the company raised its annual dividend 7.7% to $1.97/share. The dividend is payable on April 15, 2011 to shareholders of record at the close of business on March 15, 2011. The ex-dividend date is March 11, 2011. The yield based on the new payout is 5.5%. Occidental (OXY) has global exploration and production operations. Its subsidiary, OxyChem, is one of the largest U.S. merchant marketers of chlorine and caustic soda. December 10th the company increased its quarterly dividend 21% to $0.46/share. The yield based on the new payout is 2.02%. General Electric (GE) sells products ranging from jet engines and gas turbines to consumer appliances, railroad locomotives and medical equipment. It also owns NBC Universal, and is a leading provider of consumer and commercial financing. December 10th the company raised its quarterly dividend 17% to $0.14/share. The dividend is payable on Jan. 25 to shareholders of record on Dec. 27. The ex-dividend date is Dec. 22. The yield based on the new payout is 3.27%. Honeywell (HON) is the worlds largest maker of cockpit controls, small jet engines and climate control equipment and also makes industrial materials and automotive products. December 10th the company increased its annual dividend 10% to $1.33/share. The yield based on the new payout is 2.55%. Horace Mann (HMN) is an insurance holding company that markets and underwrites personal lines of property and casualty insurance, retirement annuities and life insurance. December 10th the company raised its quarterly dividend 37% to $0.11/share. The dividend is payable on Dec. 31 to shareholders on record as of Dec. 20. The ex-dividend date is Dec. 16. The yield based on the new payout is 2.48%. Iron Mountain (IRM) provides information protection and storage services. December 13th the company increased its quarterly dividend 200% to $0.1875/share. The dividend is payable on January 14, 2011 to stockholders of record on December 27, 2010. The exdividend date is December 23, 2010. The yield based on the new payout is 3.2%. Dynex Capital (DX) invests principally in single-family residential and commercial mortgage loans and securities. December 13th the company raised its quarterly dividend 8% to $0.27/share. The dividend is payable on January 31, 2011 to shareholders of record as of December 31, 2010. The ex-dividend date is December 29, 2010. The yield based on the new payout is 9.5%. Pfizer (PFE) is the worlds largest pharmaceutical company. It produces a wide range of drugs across a broad therapeutic spectrum. December 13th the company increased its quarterly dividend 11.1% to $0.20/share. The dividend is payable March 1, 2011, to shareholders of record at the close of business on February 4, 2011. The ex-dividend date is February 2, 2011. The yield based on the new payout is 4.68%. CSC (CSC) is a computer services company provides consulting, systems integration and outsourcing services. December 13th the company raised its quarterly dividend 33% to $0.20/share. The dividend is payable on January 13, 2011 to stockholders of record at the close of business on December 23, 2010. The ex-dividend date is December 21, 2010. The yield based on the new payout is 1.7%.

Colony Financial (CLNY) operates as a commercial mortgage REIT that focuses on acquiring and originating commercial real estate mortgage loans and real estate-related debt. December 13th the company increased its quarterly dividend 20% to $0.30/share. The dividend is payable on January 14, 2011, to stockholders of record on December 31, 2010. The ex-dividend date is December 29, 2010. The yield based on the new payout is 6.1%. Bristol-Myers Squibb (BMY) engages in discovering, developing, and delivering medicines that help patients prevail over serious diseases. December 14th the company raised its quarterly dividend to $0.33/share. The dividend is payable on February 1, 2011, to stockholders of record at the close of business on January 7, 2011. The ex-dividend date is Jan. 5. The yield based on the new payout is 4.97%. U-Store-It Trust (YSI) engages in the ownership, operation, acquisition, and development of self-storage facilities in the United States. December 14th the company increased its quarterly dividend 180% to $0.07/share. The dividend is payable on January 21, 2011 to common shareholders of record on January 7, 2011. The yield based on the new payout is 3.1%. NB&T Financial (NBTF) provides commercial banking and financial services to individuals and corporate customers in southwestern Ohio. December 14th the company raised its quarterly dividend 3.5% to $0.30/share. The dividend is payable January 24, 2011 to shareholders as of record December 31, 2010. The ex-dividend date is December 29, 2010. The yield based on the new payout is 5.3%. Realty Income (O) leases its retail properties primarily to regional and national retail chain store operators. December 15th the company increased its monthly dividend to $0.14425/share. The dividend is payable on January 18, 2011 to shareholders of record as of January 3, 2011. The ex-dividend date is December 31, 2010. O is a Dividend Achiever and has raised its dividend for 16 consecutive years. The yield based on the new payout is 5.2%. Scholastic Corp. (SCHL) publishes and distributes childrens books, as well as the develops educational technology products in the United States and internationally. December 15th the company raised its quarterly dividend 33% to $0.10/share. The dividend is payable on March 15, 2011 to shareholders of record as of the close of business on January 31, 2011. The ex-dividend date is January 27, 2011. The yield based on the new payout is 1.3%. Moodys Corp (MCO) provides credit ratings and related research, data, and analytical tools; risk management software; and quantitative credit risk measures and credit portfolio management solutions. December 15th the company increased its quarterly dividend 9.5% to $0.115/share. The dividend is payable March 10, 2011 to stockholders of record at the close of business on February 20, 2011. The ex-dividend date is February 17, 2011. The yield based on the new payout is 1.7%. ABM Industries (ABM) provides janitorial, parking, security, engineering, and lighting services for commercial, industrial, institutional, and retail facilities in the U.S. and Canada. December 16th the company raised its dividend 3.7% to $0.14/share. The dividend is payable on February 7, 2011 to stockholders of record on January 6, 2011. The ex-dividend date is January 4, 2011. ABM is a Dividend Achiever and has raised its dividend for 16 consecutive years. Ensign Group (ENSG) provides skilled nursing and rehabilitative care services in California, Arizona, Texas,Washington, Utah, Colorado, and Idaho. December 16th the company raised its quarterly dividend 10% to $0.055/share. December 16, 2010 7:26 AM EST The Ensign Group, Inc. (Nasdaq: ENSG) has declared a quarterly cash dividend of $0.055 per share, $0.22 annualized. The yield based on the new payout is 1.0%. Waste Management (WM) provides integrated waste management services in North America including collection, transfer, recycling, disposal, and waste-to-energy services.

December 16th the company increased its quarterly dividend 8% to $0.34/share. The yield based on the new payout is 3.8%. Autoliv (ALV) develops, manufactures, and supplies automotive safety systems to automotive industry. December 16th the company increased its quarterly dividend 14% to $0.40/share. The dividend is payable on Thursday, March 3, 2011 to shareholders of record on the close of business on Thursday February 3, 2011. The ex-dividend date is February 1, 2011. The yield based on the new payout is 2%. Pentair (PNR) operates as a diversified industrial manufacturing company worldwide. The companys Water segment offers products and systems that are used in the movement, storage, treatment, and enjoyment of water. December 16th the company raised its annual dividend 5% to $0.80/share. PNR is a Dividend Achiever and has raised its dividend for 34 consecutive years. The yield based on the new payout is 2.2%. Urstadt Biddle (UBA) engages in the acquisition, ownership, and management of commercial real estate properties. December 16th the company increased its quarterly dividend to $0.245/share. The dividend is payable January 21, 2011 to stockholders of record on January 7, 2011. The ex-dividend date is January 5, 2011. UBA is a Dividend Achiever and has raised its dividend for 16 consecutive years. The yield based on the new payout is 5.2%. Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Los Angeles Airport 5.00% North Texas Tollway 6.00 NY Dorm (New School) 5.50 South Carolina Ports Authority5.25 Love Field (SW Air) 5.25 Buckeye Tobacco (Ohio) 6.50 ETFs Ticker PowerShares Build America Bond iShares S&P National AMT-Free CLOSED-END FUNDS BlackRock CA Muni Western Asset Managed Muni Nuveen Insured Muni AllilanceBernstein Nat. Muni

2040 2043 2040 2040 2040 2047 Price

5.25% Aa3/AA 6.25 A2/A5.75 A3e/A-e 5.55 A1/A+ 6.00 Baa3e/BBBe 8.80 Baa3/BBYield

BAB $25.435.3% MUB 100.983.7 TickerPrice Yield Discount* BFZ $12.69 7.2% -5.7% MMU 11.87 6.6 -2.1 NIO 13.35 6.5 -4.5 AFB 13.25 7.0 -3.4

At the end of the third quarter, Annaly Capital Management (NLY) was the Pros favorite mortgage investment stock with 33 13F-filing asset managers counting shares among their top-15 U.S.-listed equity holdings. The stock yields 15% annually, based on its last distribution. Meanwhile, Pro popularity runners-up American Capital Agency (AGNC) and MFA Financial (MFA), which were in the top holdings of seven Pros respectively heading into Q4, yield 19% and 11% respectively, based on the same criteria. Moving down the Pro popularity ranks, Starwood Property Trust (STWD) and Redwood Trust (RWT) were in the top holdings of six Pros respectively at the end of Q3, and four 13F-filing asset managers held Hatteras Financial (HTS) and Cypress Sharpridge

Investments (CYS) among their biggest bets. All four yield more than 6% based on their latest payouts, and the latter two yield upwards of 14%. 23 Dividend Stocks Paying More Cash about AE, CPB, CVR, CMA, WEN, INTC, JCI, MAT, RDK, SYY, UNP, NKE, NJR, SGK, SYBT, TCK, ESLT, NST, LG, MWV, MRH, NP, BF.A.

The The The The

Morgan Stanley China A-Share Fund (CAF) John Hancock Bank & Thrift Opportunity Fund (BTO) MLP & Strategic Equity Fund (MTP) Stanley Frontier Emerging Markets Fund (FFD)

(LEG) makes a broad line of bedding and furniture components and other home, office and commercial furnishings, as well as diversified products for non-furnishings markets. - 5.16% Yield - 36.76% Debt To Total Capital - 57.89% FCF Payout - 38 Years of Dividend Growth Urstadt Biddle Properties (UBA) is a real estate investment trust that acquires, owns and manages commercial real estate properties primarily in the northeastern United States. - 5.17% Yield - 30.87% Debt To Total Capital - 58.27% FCF Payout - 16 Years of Dividend Growth Hudson City Bancorp Inc. (HCBK) operates over 100 branches in the New York metropolitan area. It caters to high median household income counties and focuses on jumbo mortgage loan funding, largely through time deposits. - 5.26% Yield - 72.57% Debt To Total Capital - 52.23% FCF Payout - 10 Years of Dividend Growth Cincinnati Financial Corp. (CINF) markets primarily property and casualty coverage. It also conducts life insurance and asset management operations. - 5.31% Yield - 15.05% Debt To Total Capital - 46.87% FCF Payout - 50 Years of Dividend Growth PP&L Corporation (PPL) is a holding company for PPL Utilities and a utility in the U.K. - 5.53% Yield - 37.55% Debt To Total Capital - 99.92% FCF Payout - 9 Years of Dividend Growth National Retail Properties, Inc. (NNN) invests in high-quality, freestanding retail properties subject to long-term net leases with major retail tenants. - 5.74% Yield - 1.92% Debt To Total Capital - 82.18% FCF Payout - 19 Years of Dividend Growth Verizon Communications Inc. (VZ) offers wireline, wireless and broadband services primarily in the northeastern United States. It acquired MCI Inc in 2006 and has since sold or spun off non-core assets. Alltel was acquired in early 2009.

- 5.94% Yield - 38.59% Debt To Total Capital - 31.49% FCF Payout - 6 Years of Dividend Growth AT&T Inc. (T) provides telephone and broadband service and holds full ownership of AT&T Mobility (formerly Cingular Wireless). AT&T Corp. was acquired in late 2005 and BellSouth in late 2006. - 6.02% Yield - 41.67% Debt To Total Capital - 61.14% FCF Payout - 27 Years of Dividend Growth Suburban Propane Partners LP (SPH) markets propane gas and other refined fuels to residential, commercial, industrial, and agricultural customers. - 6.08% Yield - 43.49% Debt To Total Capital - 88.83% FCF Payout - 11 Years of Dividend Growth Kinder Morgan Energy Partners LP (KMP) is one of the largest pipeline master limited partnerships (MLPs) in the U.S. - 6.14% Yield - 63.92% Debt To Total Capital - 76.11% FCF Payout - 14 Years of Dividend Growth CenturyLink, Inc. (CTL) acquired larger telecom peer Embarq in a stock deal in July 2009. Combined, the company provides voice service to 6.7 million customers and Internet service to 2.4 million customers in rural towns as well as larger cities such as Las Vegas. - 6.74% Yield - 44.56% Debt To Total Capital - 75.39% FCF Payout - 37 Years of Dividend Growth iShares Dow Jones US Real Estate (IYR) 16%First SPDR DJ Wilshire Intl Real Estate (RWX)15%First iShares MSCI Emerging Markets Index (EEM) 15%First PowerShares Intl Dividend Achievers (PID) 11%First iShares Dow Jones Intl Select Div Idx (IDV) 11%First PowerShares HighYield Dividend Achievers(PEY) 10%First iShares MSCI EAFE Index (EFA) 9% First SPDR S&P 500 (SPY) 9% First SPDR S&P Dividend (SDY) 9% First iShares S&P U.S. Preferred Stock Index (PFF) 9% First iShares Dow Jones Select Dividend Index (DVY) 9% First First Trust Value Line Dividend Index (FVD) 8% First Vanguard High Dividend Yield Indx (VYM) 8% First Vanguard Dividend Appreciation (VIG) 8% First Week Week Week Week Week Week Week Week Week Week Week Week Week Week

12/10 structure notes products -

* * * * *

SPDR Gold Shares Fund (NYSEArca: GLD) iPath Dow Jones AIG Coffee TR Sub-Index ETN (NYSEArca: JO) iShares Silver Trust (NYSEArca: SLV) Teucrium Corn (NYSEArca: CORN) United States Oil Fund (NYSEArca: USO)

Corn and soybean harvest yields are even lower than most projections, according to PorkMag. The stock-to-use ratio for corn is at 6.7%, the lowest since 1995. Darrell Mark, University of Nebraska Extension livestock economist, says the market is very sensitive to scares, and corn prices can top up to $8 if enough pessimistic news comes in. In the October WASDE report, USDA actually increased feed demand, maintained ethanol demand, and slightly lowered export demand compared to last month, Mark notes. However, the higher price for corn has reduced corn demand for livestock feed. * PowerShares DB Agriculture (DBA) HY

SPDR Dow Jones REIT (NYSEArca: RWR): Malls are 14.6%; office property is 14.3% First Trust S&P REIT (NYSEArca: FRI): Malls are 13.9%; office property is 13.1% iShares FTSE NAREIT Industrial/Office (NYSEArca: FIO): Office property is 64.5% Claymore Wilshire U.S. REIT (NYSEarca: WREI): Malls are 16.3%; office property is 13.2%; hotels are 7.3%

The first ETF to focus solely on U.S. stocks that pay dividends is iShares Dow Jones Select Dividend Index Fund: DVY. It is based on the Dow Jones selection of the best U.S. stocks that pay dividends. The PowerShares Dividend Achievers Portfolio: PFM tracks the Mergent Broad Dividend Achievers Index. This is a list of all U.S. companies that have raised their dividends every year for at least the last ten years. (Some have raised their dividends every year for over one hundred years.) Therefore PFM consists of all U.S. companies with a strong track record of raising dividends. The PowerShares High Yield Equity Dividend Achievers Portfolio: PEY holds the fifty companies on the Mergent Dividend Achievers index now paying the highest dividends. First True Value Line Dividend Index Fund: FVD holds the stocks in the Value Line Dividend Index. This index consists of companies that Value Line gives a SafetyTM Ranking of #1 or #2 using the Value Line SafetyTM Ranking System, which pay higher than average dividends and which have a market of at least $1 billion.

SPDR Dividend ETF: SDY tracks the S&P High Yield Dividend Aristocrat Index. The Dividend Aristocrat Index consists of the top fifty companies in the S&P Composite 1500 which have had annual dividend increases for at least the past twenty-five years. The WisdomTree Total Dividend Fund: DTD consists of all the dividend paying companies in the U.S. stock market. The WisdomTree High Yielding Equity Fund DHS tracks the WisdomTree High Yielding Equity Index. These are the companies in the WisdomTree Dividend Equity Index with the highest dividend yields. The WisdomTree Dividend ex-Financial Fund DTN tracks the performance of the WisdomTree Dividend Top 100 Index excluding financial companies. This ETF used to track all the top 100 dividend paying stocks. Obviously, WisdomTree restructured the fund after the financial crisis in the fall of 2008. PEY, DHS and SDY focus on the dividend stocks with the highest yields. PFM and FVD focus on the companies with the longest track records of increasing dividends. DTN and DVY focus on quality of the companies. DTD is the broadest, including all U.S. stocks that pay dividends. Investors seeking dividend income have a lot of good choices. They can receive an immediate return on investment whether the market goes up, down or sideways. tips and inflation fighting etf CCX COPX CPI CUT DBC GDX GDXJ GLD GLDX GLTR GRES HAP IAU LIT PAGG PSTL SCHP SIL SLV STPZ TIP URA USCI WIP WOOD REITS NEWS MUNI BONDS NEWS 11.10 The bond markets are an excellent place for most investors to invest capital and generate consistent returns. Like any capital market, bonds are not without risks. For municipal bonds, investors need to concern themselves with inflation, defaults, ratings downgrades, material events, liquidity issues, budget woes, spending cuts, and unfunded pensions. Each of these issues can erode the value of municipal bonds. Since bond prices fluctuate on a daily basis, it is important to become aware of few factors. Inflation: Inflation is a rise in the prices of goods and services over a period. Inflation is also erosion in the purchasing power of money. With everything remaining the same, an increase in prices, hurts a consumers ability to purchase goods and services. In general, inflation is measure by a basket of goods. The recognized gauge of inflation is the consumer price index. Since municipal bonds are fixed income products, when inflation moves higher, the real purchasing power of money (or fixed income) is reduced. Therefore, when inflation ticks higher, bond investors generally reduce the amount they are willing to pay for a given bond, and demand more interest. Investors can follow some general rules of thumb as it relates to bond prices, interest rates and inflation. Price Duration Change in Rates Change in Price New Price $100 10 years 1% -10% $90 $100 4 Years 1% -4% $96 $100 3 Months 1% -0.25 $99.75 There have been a number of articles recently written about the perils of owning municipal bonds. A recent article in the Wall Street Journal compared issues that the municipal bond market is facing to issues faced in the housing markets to sub price debt. The article mentions that the greatest default risk is in small municipalities with over leveraged projects buffeted by the recession. Those places also might need to access credit markets less in

the future than big cities, making it easier to walk away from their debt than paying you back. Monitoring the news and determining the effect on your portfolio is important for active bond investors. A passive investor still needs monitor markets movements since about 96% of Muni bonds experience credit rating changes within a 10 year period. How defaults affect bonds The municipal bond sector has had a solid record of accomplishment when it comes to the magnitude and frequency of defaults. Defaults are times when a municipality cannot pay its debts and misses a payment or seeks bankruptcy protection. Municipal bonds are considered the second safest category following securities issued by the Federal Government. In the event of a default, bondholders seldom lose their entire principal. Often, a default could result in the suspension of the coupon payment, or a delayed payment. California General Obligation bonds are second in line for payment, just after education. History of Defaults: Default rates, varied significantly across municipal sub-sectors, even though the overall rate was low compared too many fixed-income sectors. A study perform by Fitch study found that the 16 to 23 year cumulative default rates for tax-backed and traditional revenue bonds were less than 0.25 percent. Industrial revenue bonds had a cumulative default rate of 14.62 percent, multi-family housing 5.72 percent, and non-hospital related healthcare 17.03 percent. These three sectors accounted for 8 percent of all bonds issued but 56 percent of defaults. Education and general-purpose sector bonds accounted for 46 percent of issuance but only 13 percent of defaults. One of the new findings in the 2003 study was that there was a moderate correlation of default risk with economic cycles, though a one-year lag produced a higher correlation. During the early 1980s and the early 1990s when economic growth was slow, default rates were the highest. Another new finding was that defaulted municipal bonds have a high recovery rate of 68.33 percent based on the number of defaults. Recovery can be made in a couple of ways. The borrower may get out of the default situation by making full debt service payments or forfeiting collateral securing the bonds may be liquidated. Most issuers, particularly providers of essential services such as water and sewer, eventually resume paying debt service. They are never pledged to bondholders. In such cases, bondholders maintain a lien on revenues, which often enables full recovery. Industrial development bonds and multifamily housing bonds, the two sectors with the highest default rates, are often backed by collateral leading to higher than average recovery rates. Bond insurers The key to successful municipal bond investing is to perform the due diligence needed to find a solid investment. It is no different than finding a solid stock. Prior to the recent credit crises, municipalities could purchase insurance for bonds, but AAA insurers no longer exist to back up bonds. Recently in 2010, bond insurer Ambac moved into Chapter 11, because it believes the IRS would gut the entire company. Recent problems in the industry include some shortfalls of full disclosure. An example in 2010 was San Diego failed to disclose underfunding pensions in bond offering disclosures (penalties were paid by San Diego). The SEC may impose more penalties or require more disclosure, as there is not enough money to repay bondholders if failure occurs.

Better Than High-Yield Bonds: Corporate Loan Closed-End Funds

Steven Bavaria October 06, 2010 - BGT / BHL / BSL / EFR / EFT / EVF / FCT / FRA / FRB / HCF / HYG / JFR / JNK / JRO / NSL / PHD / PPR / TLI / VTA / VVR BMO High Yield U.S. Corporate Bond (ZHY) (U.S. high yield bonds) BMO Emerging Markets Bond (ZEF) (High-yield and investment grade government bonds) Claymore Advantaged High-Yield Bond (CHB) (U.S. high yield bonds; pays taxadvantaged income) iShares DEX HYBrid Bond Index Fund (XHB) (Mainly triple-B rated corporate bonds and some high-yield bonds, all in the Canadian market) iShares U.S. High Yield Bond Index Fund (XHY) (U.S. high yield bonds) However, investors can buy shares of the iShares S&P National AMT-Free Municipal Bond Fund: MUB and SPDR Barclays Capital Municipal Bond ETF: TFI. MUB tracks the S&P National AMT-Free Municipal Bond Index. TFI tracks the Barclays Capital Municipal Managed Money Index (ticker: LMMITR). (AMT stands for Alternative Minimum Tax. So the income from both these ETFs is not taxable by the IRS.) MUBs expense ratio is 0.25%. TFIs is 0.30%. MUBs total holdings is 592. TFIs is 282. MUBs average credit rating is AA-. TFIs is AA2. Both funds pay dividends monthly. MUBs average maturity is 7.93 years. TFIs is 7.70. Ted's portfolio AVF, CEG-A, FTB-C, GOM, IGK, and PHR. So far I have made money on all of them. Although, I'm not looking for much capital appreciation, these preferred's provide a steady stream of income for capital preservation in a retirement portfolio.Last week I bought (FTR) Frontier Communication Looking for Cash Flow in ETFs (DVY, PEY, VIG, IRO) preferred table Fund Name (Ticker) Yield P/E52 Wk High/Low Ratio Vanguard Utilities ETF (VPU) 3.76%12 1.15 iShares Dow Jones US Utilities (IDU) 3.79%15 1.16 Utilities HOLDRs (UTH) 4.19%12 1.20 iShares S&P U.S. Preferred Stock Index (PFF)6.98%1.23 PowerShares Preferred (PGX) 7.00%1.23 SPDR S&P Dividend (SDY) 3.44%13 1.24 Utilities Select Sector SPDR (XLU) 4.14%11 1.25 PowerShares Financial Preferred (PGF) 7.62%1.27 iShares Dow Jones US Telecom (IYZ) 3.64%28 1.28 PowerShares Listed Private Equity (PSP) 4.02%9 1.29 Pharmaceutical HOLDRs (PPH) 9.66%11 1.30 WisdomTree Emer Mkts Equity Inc (DEM) 3.38%9 1.31 SPDR Dow Jones Intl Real Estate (RWX) 3.94%16 1.35 Vanguard European ETF (VGK) 4.18%12 1.37

iShares MSCI Brazil Index (EWZ) iShares FTSE Dev RE ex-US (IFGL) iShares Dow Jones US Real Estate (IYR) Vanguard REIT Index ETF (VNQ) iShares S&P Global Infrastructure (IGF) Claymore/Zacks Multi-Asset Income (CVY) iShares MSCI Spain Index (EWP) iShares Dow Jones Select Dividend (DVY) iShares S&P Global Telecom (IXP) WisdomTree DEFA (DWM) WisdomTree Dividend ex-Financials (DTN)

3.66%20 8.27%17 3.50%44 3.60%42 3.57%17 5.03%13 5.74%12 3.67%16 4.44%18 4.70%11 3.91%13

1.42 1.43 1.46 1.49 1.64 1.65 1.76 2.55 2.87 2.89 3.40

SPDR Utilities (XLU) is the granddaddy of all ETFs in this sector. Not only is it the oldest with inception in 1998, its also the largest by far. XLU had assets of more than $3 billion as of the most recent quarter end. XLU is a large-cap fund; essentially, it is the utilities portion of the S&P 500. That means it is well-known and very liquid. Vanguard Utilities (VPU) and iShares Dow Jones U.S. Utilities (IDU) are two more name-brand ETFs covering this sector. Both are much smaller than XLU, in terms of both size and trading volume. They are still decent funds, though, if you are looking for diversified, domestic utilities exposure. PowerShares S&P SmallCap Utilities (XLUS) is a new ETF, only a few months old. As the name suggests, it specializes in the small-cap corner of the utilities sectors. This is a good niche many of these companies could become takeover targets as the industry consolidates. iShares S&P Global Utilities (JXI) is one-stop shopping for utilities stocks from around the world. Almost 60 percent of the portfolio is based outside the U.S., including Japan, the United Kingdom, Germany, Hong Kong, Brazil, and more. This global exposure only adds to the sectors appeal, in my opinion. WisdomTree International Utilities (DBU) and SPDR S&P International Utilities (IPU) both exclude the U.S. and dedicate substantially all their assets to foreign stocks. Does this make them riskier? Yes, but the return potential is higher, too, especially if the U.S. dollar loses value against other currencies. SPDR S&P International Utilities (NYSEArca: IPU) iShares S&P Global Utilities Sector (NYSEArca: JXI) Vanguard Utilities ETF (NYSEArca: VPU) Utilities Select Sector SPDR (NYSEArca: XLU) PowerShares S&P SmallCap Utilities (NASDAQ: XLUS) bonds review od=WSJ_article_related ****** about defaults, state changes recovery/default rates - corp bonds moodys 7/10 20Pages/Credit%20Policy%20Research/CreditPolicyArchivedRsrch.htm 8.10 news view.html HIGH YIELD STOCKS - BEST DIVIDEND BOOK 12.09 municipal bonds and default 7/10 CHEAP RESOURCE READS preferred EMERGING MARKET Templeton Global Income Fund (GIM), which holds mostly foreign-government debt, including about 8% in Brazilian debt; it yields more than 5.5%. ING Global Bond Fund (IGBIX), a global bond fund with a 10% exposure to Brazil that yields about 6.5%, AberdeenGlobal Income Fund (FCO), a bond fund with 15% exposure to Australia and 7% to New Zealand. It yields about 7.6%

megg - MGE Energy, Inc dis - disney ed - Consolidated Edison, Inc. AIZ / CLF / CPY / FDS / KWR / MSA / NC / NKSH / POR / TKR iShares DEX All Corporate Bond Index Fund iShares DEX Short Term Bond Index Fund iShares DEX Universe Bond Index Fund iShares DEX All Government Bond Index Fund iShares DEX Long Term Bond Index Fund iShares U.S. IG Corporate Bond Index Fund CAD-Hedged iShares U.S. High Yield Bond Index Fund CAD-Hedged Equity: iShares Dow Jones Canada Select Dividend Index Fund iShares S&P/TSX Capped REIT Index Fund iShares S&P/TSX Capped Financials Index Fund iShares S&P/TSX Income Trust Index Fund

std pm Group (MO), The Southern Company (SO), Canadian Imperial Bank of Commerce (CM), Kimberly-Clark (KMB), Unilever (UN), and of course, British Petroleum (BP).

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McKesson (MCK: 68.61*, +0.89, +1.31%) is America's largest distributor of drugs and medical supplies, so it stands to benefit from a government plan to expand health insurance to 30 million people who lack it today. It also provides information technology to hospitals and clinics, and so the company should prosper from the push to digitize patient records to better coordinate care and reduce costs. In the company's fiscal year ended March 31, sales grew only modestly but careful cost control sent adjusted operating earnings nearly 18% higher. Cash flow far outstripped spending during the year. As a result, McKesson has now accumulated enough cash to more than wipe out its debt or repurchase 20% of its outstanding shares. It could also pay a dividend several times as large as the one it pays now. Shares yield a mere 0.8%.

Time Warner Cable

Cable television companies spent the past decade luring telephone customers with voiceover-Internet offerings. Telecoms are now returning the favor, laying fiber optic lines that can carry bundled television and broadband Internet service. Recent data suggest those services -- FiOS by Verizon (VZ: 28.64*, +0.13, +0.45%) and U-Verse by AT&T (T: 25.77*, +0.37, +1.45%) -- are spreading slower than the telecoms hoped and the cable operators feared. According to Matthew Harrigan, a media analyst with Wunderlich Securities in Denver, the current share price for Time Warner (TWC: 52.44*, +0.84, +1.62%) implies FiOS and U-Verse will eventually win as subscribers 31% and 22% of customers in wired homes, respectively. In a late-April note to clients Harrigan wrote that penetration rates of 27% and 17% seem more likely. If he's correct, today's share price could prove a bargain. Time Warner owes plenty but also has a free cash flow yield of close to 12% and a dividend yield of 3.2%. Read more: 3 Stocks Producing 10% Free Cash Yields - Investing - Stocks

expd - Expeditors International of Washington

Symbol Yield 1 Year Trailing Return best dividends ETFs DTN 2.77% FVD 3.10% SDY 3.56% DVY 3.53% VIG 2.32% DLN 3.29% PEY 3.21% SPY 2.00%

76.04% 54.21% 64.76% 58.50% 49.09% 32.50% 42.17% 35.57%

pny -

Piedmont Natural Gas Company, In

mkc dtd ATT PCG PCG-A GSK BP **VTR - vergy good reit [nh, hotel, etc...] ** scg - good electric utility TR - toosie rolls mo - altria nice chart *** ltn - alliant energy 5%

fpl - eletric ser 5% GGG - INERNATIONAL OWN COMPANY nst - energy jnj wgl - natural gas company/provide energ ** KMP *** cosmetics/personal care - GOOD COMPANY FOR LONG RUN LRTR, M MSB

apu bbl xtex tpp adh ns bwp sxl xtex tpp nsh abt mm mo bms cmp cvx xtxi bgh

month Libor rate with a floor of 4%. Three-month Libor is currently 0.25%, but I see it going back to 4% and the stock recovering its $25 par value. It's an opportunity for both income and capital gain.





PUBLISHI PUBLISHI 12/31/09 3 NG NG 2 DATE PRICE PRICE 3/25/200 17.49 9 3/25/200 11.13 22.96 17.60

Fidelity Low-Priced StockH Penn West Energy TrustH


4/13/200 17.00 9 4/13/200 10.00

9 Provident Energy Trust


9 3/25/200 3.99 9 9/16/200 48.14 9 9/16/200 29.32 9 9/16/200 25.18 9 11/25/20 42.95 09 11/25/20 16.80 09 2/11/200 9.75 9 2/11/200 14.84 9 2/11/200 20.45 9 2/11/200 69.75 9 11/25/20 20.10 09 11/25/20 19.10 09 5/6/2009 73.25 6.72 52.85 31.41 28.58 43.61 16.33 18.05 22.31 24.18 97.50


4/13/200 3.80 9 10/5/200 47.00 9 10/5/200 27.00 9 10/5/200 24.00 9 12/14/20 44.00 09 12/14/20 17.00 09 3/2/2009 10.00 3/2/2009 11.00 3/2/2009 15.00

Plains All American PipelineH PAA Enterprise Products PartnersH EPD

JPMorgan Alerian MLP Index AMJ ETNH Archer Daniels MidlandH Gabelli Global Gold Natural Resource & Income FundH Sprint 7% Pplus trust certificatesHsup>H,4 Motorola 8.2% CorporateBacked Trust CertificatesH,4 General Electric 6% PreferredsH,4 ADM A GGN PYG* XFH* GEJ

Morgan Stanley Senior 61745ET 3/2/2009 67.00 Unsecured Note A2/AA due B7 May 16, 2018H Goldman Sachs Preferred AH GS*A Morgan Stanley Preferred AH MS*A Bunge Limited prefH BGEPF 12/14/20 20.00 09 12/14/20 19.00 09 5/25/200 78.00 9

21.93 21.89 91.25

momentum investing - RONO OVERTONE 2/10 Many of us practice momentum investing to a greater or lesser degree. In short it's simply overweighting some segment, sector, region or country that is outperforming the rest of the market. It's not day trading nor market timing - but it's also not being a diehard buy & hold passive investor. It also doesnt mean that you have to momentum invest with 100% of your portfolio. Most of us have a core portfolio that IS pretty much b&h and only momentum invest with some percentage. This could be as little as 5%. I probably do about 35-40%. The point is that if your core portfolio matches the market returns and you have 510% invested in a sector that beats the market, your overall returns will also beat the market. And it has nothing to do with whether a fund is actively managed or an index fund. Indeed, most ETFs are index type funds and they make wonderful tools for momentum investing. They're relatively inexpensive, easy to buy and sell, and able to be very targeted. The basis for passive b&h investing is that over the long run the market is extremely efficient and demonstrates a reversion to the mean. By this I mean that any area that is doing poorly will eventually do well and any area that's doing great will eventually do poorly and that all these oddities will even out and we'll approach the long term trend line returns of ~11% for stocks and ~6% for bonds. And as this is the case over the long run, you're

better off to buy index funds in a set allocation and leave it alone and let this most efficient of markets take care of things. Sounds good and I agree!! Over the long run the market IS efficient and DOES revert to the mean. And if I was investing for 75 years, I'd be all over passive buy & die investing. Ah, but the problem is that none of us are investing for 75 years - or 50 - or even 30. I'm 61 so how many years do I have left - for the market to revert to the mean? So, first off we may not all have the 'long run'. Second is that while the market is efficient over the long run, in the short and intermediate term, it's anything BUT efficient. There are anomalies that can exist for years - where some sector, segment, etc., out or under-performs the rest of the market. How long did real estate outperform? 5, 6, 7 years? How about the bull? Gold has been in a bull market since 2001. Although some folks will try to ride any trend, regardless of duration, I don't - it's too hard and requires more time than I'm willing to devote. I'm looking for the longer term trends. Theyre easier to spot and have a better probability of continuing their trend. Fro example, theres a dollar rally going on thats lasted a couple of months. Some folks are riding this trend, but it hasnt been going on long enough to interest me. Id rather see something lasting for months and years. This makes them easier to identify. And this is the whole premise of momentum investing that you can identify these trends and simply overweight one or two with a portion of your portfolio and thereby increase your overall returns to a better percentage than the general market. There are two issues that you have to figure out how to ID a trend and climb aboard, and when to realize that the ride is over and its time to get off. While some use charts and technical measures, I use a combination of things and rely mostly on scaling in and scaling out of an investment to mitigate the risks. You need to watch the sectors, segments and regions on a regular basis looking for divergences. By this I mean some sector that does well when everyone else does poorly is flat when the rest of the world is down. You can do this at Bobs, many sector index listings, watching the Fido sector funds, or just reading Barons and IBD to see which types of funds are doing better than others. You really cant use stocks because funds will show a better picture of the sectors and segments. Youre looking for something that stands out from the pack. When you find it you start watching it and see if it continues to diverge. I like to run the 6 month chart just to see what the picture looks like as Im not a technician. Im looking for something thats got a nice smooth upwards slope. I check the fundamentals to see if it makes sense. And I watch to see if it continues. \ Once I decide it just might be a real trend, Ill make an initial purchase of perhaps 25% of my final intended investment. Lets say I have $10K to play with I buy $2500 and watch it for a week or so to see how it does. If it stays flat or goes down I DO NOT buy more. I watch it some more to see if it begins to make me money or breaks my stop loss and forces me to sell (more about exit strategies below). However, if it does make me some money and is green after a week or so, Ill buy some more say another 25%. And Ill watch it to see if it makes me money. If it does, Ill go ahead and invest the remaining 50%. (note that you can scale in with any percentage increments that feels good 25/25/50, 33/33/33, etc.). This is called scaling in to an investment. How about getting off when the trend is over? This revolves around your exit strategy and you simply MUST have an exit strategy. This is crucial for momentum investing so that you can keep your profits and not give them all back as you ride the trend back to the mean. {However, Im of the camp that every investor should have an exit strategy and that a pure buy & die portfolio will likely result in your death. How many times in the past 10 years has the market handed them their ass?} For an exit strategy you have to watch your investment. Again, youre looking for divergences or when it does poorly and everything else does well. Or the chart starts looking ugly, or it breaks any of your moving averages. These are all signs that it may be

running out of steam. You can also set mental stop losses. I like using 10% for most investments with it being how much Im willing to give back or if its a new play, how much pain Im willing to suffer. Any of these can be a trigger to start scaling OUT of your play. And youre much better to err on the side of caution than not. No one ever went broke taking profits. By scaling out, I mean that at the first trigger point, you take 25% of your play off the table. And you watch the rest more closely than ever. If it continues to look ugly or turn down or drop, you take some more off the table say another 25%. If it continues to break down you take whats left. And you do NOT worry about it turning back up. That will occasionally happen but thats OK. Youve banked your profits and can now look for the next trend . . . or even scale back in to the same trend if it really makes a steady and nice comeback. And this is the best reason why I prefer to play the longer and smoother trends you dont have to get on the first day, nor stay until the bitter end to make money. You can afford to wait until the trend fully manifests itself before you climb aboard and still make money. And you can wait until it breaks down before getting off and still not give all your profits back to the house. And on this board, there are quite a few folks that practice some degree of momentum investing using a variety of tools and metrics to both ID the trends and exit the plays.

Top 25 Dividend Stocks to Watch

by: Dividend Inc March 21, 2010 | about: AWR / BRO / CWT / DIA / FPL / LKFN / LLY / MGEE / MLM / MON / NTRS / NWN / OTTR / PBI / PGN / SFNC / SPY / SRCE / SYBT / T / THFF / TMP / UGI / UMBF / WEYS / WGL / WTR / XOM

Dividend Inc 292 Followers 1 Following Follow Articles (97) Instablog (20) Comments (127) Profile Send Message

You are currently following Dividend Inc Stop Following You are no longer following Dividend Inc About this author: Profile & More Articles Visit: New Low Observer Submit an article to

Share0 At the end of the week, our watch list contains 25 companies. Here is the watch list which ranks Dividend Achievers that are within 20% of the 52-week low for March 19, 2010. Symbol Name Price % Yr P/E EPS Div/ Yield Payout Low Shr Ratio
XOM FPL MON BRO CWT TMP AWR T UMBF WEYS LKFN WTR LLY OTTR SFNC Exxon Mobil Corp FPL Group, Inc. Monsanto Company Brown & Brown, Inc. 67.0 5.48% 4 48.1 6.34% 6 72.2 8.46% 0 16.84 3.98 12.13 3.97 25.97 2.78 1.68 2.00 1.06 0.31 1.19 1.36 1.04 1.68 0.74 0.60 0.62 0.58 1.96 1.19 0.76 2.51 42% % 4.15 50% % 1.47 38% % 1.72 28% % 3.21 61% % 3.54 51% % 3.04 64% % 6.40 79% % 1.80 34% % 2.54 54% % 3.33 49% % 3.31 76% % 5.42 50% % 5.43 168% % 2.81 44% %

17.9 10.17% 16.13 1.12 8

California Water Service 37.0 10.69% 19.01 1.95 7 Tompkins Financial Corp. 38.3 10.75% 14.26 2.69 7

American States Water 34.1 10.87% 21.09 1.62 7 AT&T Inc. UMB Financial Corp. Weyco Group, Inc. Lakeland Financial Corp. Aqua America, Inc. Eli Lilly and Company Otter Tail Corp. 26.2 13.15% 12.38 2.12 4 41.1 13.32% 18.72 2.20 8 23.6 13.45% 21.28 1.11 2 18.6 13.88% 14.78 1.26 2 17.5 13.91% 22.86 0.77 3 36.1 17.02% 9.18 7 3.94

21.9 17.66% 30.87 0.71 2

Simmons First National 27.0 17.82% 15.54 1.74 Corp. 4


S.Y. Bancorp, Inc. First Financial Corp. Northwest Natural Gas Martin Marietta Materials, Inc. Northern Trust Corp. Progress Energy Inc. UGI Corp. Pitney Bowes Inc. MGE Energy Inc. WGL Holdings Inc.

23.3 17.88% 16.79 1.39 4 29.8 17.92% 17.27 1.73 7 46.7 18.22% 16.19 2.89 9 87.4 18.49% 45.76 1.91 1 55.4 18.69% 17.55 3.16 5 39.8 18.93% 14.49 2.75 4 26.5 19.95% 12.01 2.21 2 24.5 20.31% 12.01 2.04 2 35.4 20.33% 16.02 2.21 0 34.4 20.46% 15.31 2.25 4

0.68 0.90 1.66 1.60 1.12 2.48 0.80 1.46 1.47 1.51

2.91 49% % 3.01 52% % 3.55 57% % 1.83 84% % 2.02 35% % 6.22 90% % 3.02 36% % 5.95 71% % 4.15 67% % 4.38 67% %