Q: My long-term interest in VZ was partially founded on it's extremely low correlation with almost every other equity and fixed income category. I am "off" VZ due its recent issues and am curious as to whether you are aware of any similarly low correlation, reliably high income alternatives?

Q: Hi Guys,

Can I please get your opinion of Telefonica. Thanks

Dave

Q: Not a question but rather a comment on the Q&A earlier today that included mention of TEF, the US ADR for Telefonica.

Investors should be aware that their final yield on dividends will be impacted by Spain’s Financial Transactions Tax, which is also levied on the ADR:

https://www.clearstream.com/clearstream-en/products-and-services/market-coverage/europe-t2s/spain/spain-financial-transaction-tax-ftt--2726042