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Castrese Tipaldi

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  • Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global execs after concluding that weak risk controls and chaos rather than fraud led to the disappearance of around $1B in customer money, the NYT reports. Regulators are still mulling civil action, while Corzine & Co. also face client lawsuits, which bankruptcy trustee James Giddens has agreed to co-operate with[View news story]
    Try justifying you with "weak risk control" and "chaos", even just for a speed ticket (i.e. no harm done to anybody), let's see how that will play out!

    The system is broken, act accordingly!
    Aug 16 04:37 AM | 7 Likes Like |Link to Comment
  • A majority of analysts polled by Bloomberg turn negative on gold, the first bearish read this year. Topping the list of concerns are slumping demand in India - where jewelers have been closed for 3 weeks in protest of higher taxes - and the Fed being a little less eager to paper the planet with greenbacks. Gold +0.8% to $1,627.  [View news story]
    LOL!
    Probably nobody informed them that US has a public federal debt of 15 TRILLIONS $ at the moment (and counting) plus several other TRILLIONS $ at State level plus 55 TRILLIONS $ (estimated) in unfunded liabilities for future pensions and health care and various benefits claims, with annual federal deficits projected around 1.5 TRILLIONS $ for the next several years plus 0.5 TRILLIONS $ trade deficit every year.
    Apr 5 09:29 AM | 5 Likes Like |Link to Comment
  • Gold sell-off tied to single trade: Nanex [View news story]
    Business as usual for the goodafellas!
    Oct 11 02:53 PM | 4 Likes Like |Link to Comment
  • Research In Motion (RIMM) -9.9% thanks to the FQ1 warning included in its "business update." Virtually no analyst is willing to express a positive opinion on the company, and most are skeptical a buyer offering a significant premium will emerge. Baird considers it unlikely Microsoft or Facebook would have any interest, while Stene Agee believes a deal at or below current levels might be all RIM receives. Bernstein thinks the BB10 launch "will most likely turn into a disaster."  [View news story]
    "On the positive side, we expect to further increase our cash position in Q1 from the approximately $2.1 billion we had at the end of fiscal 2012. "
    ======================...

    So, the operating loss looks to be due to some cashless write down or write off, as the company will be free cash flow positive (i.e. operating cash flow huge enough to cover completely big capital expenditures and then more). All of that in a dismal quarter.

    Maybe the media and financial whores should devote some minutes thinking of this, before uttering their usual crap.

    I'd note also that their subscribers base actually did increase, but I fear to shock all the simple souls who believe US to be the only place on Earth.
    May 30 11:02 AM | 4 Likes Like |Link to Comment
  • Rebuttal To The Salesforce.com Bulls - A Touch Of Common Sense Could Save Your Hide [View article]
    Are you assuming that is there common sense left in our post-modern financial market?

    It's a dangerous assumption!

    I've seen CRM's ebitda going backward in the last five quarters with its shares price up almost 50% in the same time frame.

    Benjoff is really impressive. Once they used to call them "snake oil sellers", now they call them "leaders".
    Nov 21 10:26 AM | 3 Likes Like |Link to Comment
  • Benioff's Bombastic Boasting Can't Hide Salesforce's Expenses Bomb [View article]
    I did forget....

    Of those 294 mln $ CRM cash earnings from operations, 166 mln came from options exercise.
    Go figure!
    Aug 24 12:21 PM | 3 Likes Like |Link to Comment
  • Benioff's Bombastic Boasting Can't Hide Salesforce's Expenses Bomb [View article]
    Great article!
    I'd like to add a few hard, cold numbers and a comparison.

    In the last six months, CRM had 1,427 mln $ in sales, 294.14 mln in cash earnings from operations* and 78.13 mln in capital expenditures.

    In the same period, DELL had 28,905 mln $ in sales, 2,313 mln in cash earnings from operations* and 262 mln in capital expenditures.

    Yet, the market value the CRM enterprise 4 bln $ more than DELL!
    47 times the annualized free cash flow against 4!!!

    I guess it's because of that famous market efficiency.

    * before changes in the working capital
    Aug 24 11:44 AM | 3 Likes Like |Link to Comment
  • Analyst reactions to Research In Motion's (RIMM -5.7%) BlackBerry World conference aren't enthusiastic. RBC (previous) likes some of the BlackBerry 10 features and apps that were demoed, but expects the huge edge held by iOS and Android in available apps to remain a problem. JMP is disappointed by the absence of new commercial hardware. Pac Crest thinks RIM is further behind the competition than Palm was when it released webOS in '09 (and that didn't end well).  [View news story]
    RIM could release even the Holy Graal now, those people would be disappointed anyway, while singing the Halleluhiah every time Apple farts.
    May 2 03:52 AM | 3 Likes Like |Link to Comment
  • So Egan-Jones gets charged by the SEC over a good-faith error, while the systemic corruption of Moody's and S&P gets a pass, writes Barry Ritholtz. Remember, Moody's and S&P are paid by the issuers whose paper they rate, while Egan-Jones is paid by those who want to hear what Egan-Jones has to say.  [View news story]
    Egan-Jones gets charged for telling the truth, downgrading Uncle Sam!
    Apr 20 08:37 AM | 3 Likes Like |Link to Comment
  • Precious metals tumble [View news story]
    Please stop drinking vodka before sunset!
    Oct 1 09:58 AM | 2 Likes Like |Link to Comment
  • Outflows from gold ETPs have hit a record 159 metric tons so far this month, bringing YTD outflows to 319mt or 12% of holdings at the year's start. As comparison, gold inflows for all of 2012 were 279mt. The largest of gold ETFs, State Street's (STT) SPDR Gold Trust (GLD) has seen outflows of 11% this month to 1,083mt. [View news story]
    What a serious tone.....

    You almost look like you're talking real gold....
    Apr 29 03:43 PM | 2 Likes Like |Link to Comment
  • After 18 years of negotiations, Russia is finally due to join the WTO today, although American companies such as Caterpillar (CAT), Deere (DE) and GE could lose out. Due to Russia's crackdown on opposition and backing of rogue regimes, Congress is not minded to repeal a cold-war law that restricts trade with the country. Russia says it has no plans to respond in kind, although it could legally do so. PR [View news story]
    Due to Russia's crackdown on opposition and backing of rogue regimes...
    ======================...

    LOL!
    Not bad for a statement coming from a Country under martial law, detaining veterans just because they exercise free speech right or torturing senior farmers just because they sell raw milk.

    http://bit.ly/O3kYG2
    Aug 22 03:58 AM | 2 Likes Like |Link to Comment
  • "My Gnome is hearing that all bidders have walked from RIMM," tweets Doug Kass, and in doing so contributes to today's selloff in Research In Motion (RIMM -7.6%). Gene Munster did his part courtesy of a CNBC appearance (video).  [View news story]
    My Elves say "there's nothing worse than shameless people!"
    Apr 3 01:37 PM | 2 Likes Like |Link to Comment
  • You Stand Relieved, Mr. Corzine [View article]
    Let's see if this time around Wall Street and the government gets it right and makes the MF Global tragedy serve as notice to all financial heavies - no matter what - you are the one in charge, for better or worse.
    ======================...

    Yeah, let's keep on dreaming....
    Mar 26 11:53 AM | 2 Likes Like |Link to Comment
  • Natural Gas ETF Suspends New Shares: Are There Alternatives? [View article]
    Speaking of tracking NatGas, why nobody ever notices GAZ?

    I guess it's just too cool bidding up the price of an ETF like UNG to double digit premium to its NAV, a total non-sense!

    An ETF structured like UNG is just a gigantic wealth transfer from retail investors (other than aggressive traders) to the Wall Street finest.

    Just think about the constant roll over: all other futures traders know what it has to do and when it must do it.
    Amazing!

    Long GAZ, short UNG!
    Aug 17 12:28 PM | 2 Likes Like |Link to Comment
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43 Comments
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