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Brad Ferris  

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  • When To Sell Your Stocks [View article]
    Thanks for the positive feedback everyone!
    Apr 10, 2012. 08:59 PM | 1 Like Like |Link to Comment
  • Canadian Bank Derivatives [View article]
    Thanks Bob. That may have been an edit by the SA staff as the original post on my blog has the last sentence written differently.
    Feb 21, 2012. 01:50 PM | Likes Like |Link to Comment
  • Developing A Margin Of Safety [View article]
    The purpose of a margin of safety is to build a discount into the price I pay for a stock. If it doesn't work for you don't use it. It works very well for me as one metric in assessing whether a price is appropriate or not. It's not my sole decision making criteria; simply a tool to help me be successful.
    Jan 31, 2012. 04:27 PM | 2 Likes Like |Link to Comment
  • Developing A Margin Of Safety [View article]
    Index investing is a completely different approach than individual portfolio creation of equities (stocks). Index investing is low cost, gain or lose with the market and try not to do any better. For many people this is the best passive investing approach. It is not intended for active investors. Index investing is for those who want to buy and rebalance only once or twice a year.
    Jan 31, 2012. 04:25 PM | Likes Like |Link to Comment
  • Developing A Margin Of Safety [View article]
    Thanks jweissman. It was an important point to make! Just because a sotck is already cheap doesn't mean that a margin of safety exists; it could be cheap for a reason!
    Jan 30, 2012. 07:20 PM | Likes Like |Link to Comment
  • Developing A Margin Of Safety [View article]
    Yes but that's what distinguishes a value investor for someone with another approach. There aren't too many equities I invest in because of safety. I'd rather make 6-10% consistently each year while never losing money than have wild swings in my returns.
    Jan 30, 2012. 04:32 PM | 1 Like Like |Link to Comment
  • Has Buffett Lost His Mind? [View article]
    I think its a simple situation of Buffett realizing the worth of a well run company and having little problem overpaying (by today's standards) for future earnings that will be much higher than today's. He has shown this ability time & time again because he rationalizes his purchases different than most investors. BNI is a very good company, but don't except 30% returns for the next 10 years; it's not that type of company. What it will offer is a very good operating foundation for BRK to diversify out of so much insurance and consumer products companies. Essentially someone has to ship all that Coke, Kraft Dinner and JNJ Baby Shampoo :)
    Nov 23, 2009. 06:50 AM | 4 Likes Like |Link to Comment
  • Chinese Exports: Can Emerging Markets Replace the U.S. Consumer? [View article]
    Emerging markets won't replace the US consumer in the next 5 years, but certainly the trends in population & economic growth indicate that they'll play a much bigger role in how goods and services are targeted by international companies. The US consumer (and government) has many problems right now, but EM's aren't in a position, yet, to take over as the dominant consumer over the next few years.
    Nov 15, 2009. 10:38 PM | 1 Like Like |Link to Comment
  • If This Is a Recovery... [View article]
    Taxes are going to rise or new taxes will be created as all levels of government attempt to deal with their revenue shortfalls.
    Nov 15, 2009. 10:35 PM | 2 Likes Like |Link to Comment
  • Global Markets in Review: Stocks Still in Rally Mode, For Now [View article]
    This rally has been remarkable, but with unemployment so high (and still rising) I think the earnings will be the continuing force driving markets higher. If earnings don't grow at a rate that the market feels is either sustainable or indicative for a true recovery then we could see a substantial pull back of 10-15% over the next few months.
    Nov 15, 2009. 10:30 PM | Likes Like |Link to Comment
  • 3 Must-Know Options Strategies for Dividend Investors [View article]
    Good introductory content on options. I agree with DGI though on reading Taleb for insights into how options work and how to make them profitable in your investing activities.
    May 4, 2009. 09:47 PM | 4 Likes Like |Link to Comment
  • An Investor's Guide to Corporate Bonds [View article]
    Jake2: I didn't recommend LQD nor suggested it was my "first choice". I simply listed some options for investors that had a relatively cheap MER and had diversification in different sectors.

    Being down 5.92% on a group of corporate bonds over the past six months would have beaten the market handily. Did you include distributions?
    Apr 1, 2009. 12:46 PM | Likes Like |Link to Comment
  • An Investor's Guide to Corporate Bonds [View article]
    Thomas: Thanks.

    Jimmy: Bonds are issued by companies at a part value - what an investor pays includes costs and commissions and can be more or less on the open market. Feel free to take the time to re-write your own post on corporate bonds highlighting all this "misinformation" and we'll compare notes.
    Mar 30, 2009. 01:41 PM | 1 Like Like |Link to Comment
  • Taking Stock in Pfizer Inc. [View article]
    I appreciate the honest comments Chasam.

    There are items in the full analysis that don't appear in this public analysis that add important insights into the company. One example would be the situational analysis which in my view is quite positive on the company's future prospects. My views on the Wyeth deal I make no effort at hiding: I think it stinks. I think PFE overpaid for a set of assets that just replace Lipitor's revenues and add to the clutter of their product portfolio.

    I'm not opposed to management wanting to get lean & mean; my concern is the speed & severity of the cutting that current management have taken. Pfizer operates in an industry where intellectual capital comes at a premium: Genentech has benefited from greatly from a certain ex-Pfizer employee leaving (who had an important role in developing Lipitor).

    Kindler is a gifted manager and has a strong background in operations. I just question the acquisition at this point in their restructuring and the price they paid.
    Mar 10, 2009. 10:05 PM | Likes Like |Link to Comment
  • Securing Cheap Financing May Just Be Canadian National Railway's Biggest Asset [View article]
    CNR is the Canadian ticker on the TSX and the common name I use for the company since I am a Canadian author. If you notice early in my original post (on my site) I refer to Canadian National Railway as (CNR;CNI). The Seeking Alpha editors took that out. As for my disclosure I own CNR (TSX), not CNI (NYSE).
    Feb 24, 2009. 08:22 AM | 1 Like Like |Link to Comment