Global Investments: When I first invested in Global Investments (here), I concluded that it was an investment that I will monitor closely. Upon consideration of their Q1/16 earnings, I have decided to divest as I feel they can no longer sustainably afford dividends exceeding 10 percent per year. To elaborate, Global Investments has pivoted too much towards bonds for my liking. They now hold 52% of their assets in bonds with a weighted average coupon of 6.76%. Even if none of their bonds default and not withstanding the fact that Global Investments is trading at a Price to Book discount, the earnings from these bonds will be insufficient to sustain their current dividend yield exceeding 10%. To make matters worse, Global Investments have informed that there is a high risk that some of their Euro denominated Collateralised Loan Obligations might default.   I foresee that short ......