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Deja Vu

 
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  • Debunk The Myths On China [View article]
    Among the areas of agreement I strongly agree that very high quality goods and services can be produced by China.

    No nation in the world has a monopoly on brains or talent. Every population is normally distributed. I cringe whenever I see a comment on SA about "cheap, low quality Chinese goods"

    Given the manufacturing base in China, the only place to get high quality manufactured goods (which demands a diversified, large, automated supply chain) may be in China. People don't seem to understand that without a machine tool base, there is agreater labor component in the production. The greater the labor component, the poorer the final quality. Automated mass production and high quality usually go hand in hand.

    In the US, there seems to be some kind of contempt for "mass produced" and some kind of reverence for "hand made" or "artisanal" which indicates most people don't understand manufacturing processes.

    Again, on innovation etc, it seems to be all the rage to think Asian countries cannot innovate, hence the nasty comments against Samsung you see in virtually all the threads here. I don't see any reason why China, Korea or India can't innovate just as well as anyone else.

    One more point, the birthrate in India is falling steeply in a few years it has fallen to about 21/1000 population or about total of 2.5/woman (since women make up a smaller number of the population). That is not far about the replacement rate of 2.1/woman. India's population will peak and stabilize in the next decade or so. (Data from world bank, you may have to input parameters into the query boxes http://bit.ly/1BUQnbl)
    Nov 21, 2014. 12:59 PM | 1 Like Like |Link to Comment
  • Debunk The Myths On China [View article]
    I agree with most of your points (disagree on Tibet etc). I especially agree with the point that China is now the most capitalistic country in the world. The place where there are no trade unions and other inconveniences for capitalists.

    In a sense China is like the Animal Farm at the end, when the pigs are starting to turn human. It's great if you are the pig, not so great if you are outside peering in through the kitchen window after a hard day's work.

    The one child policy you are so proud of, will, in about 30 years lead to a demographic collapse with too many old people and too few younger working age people to support them. The norm in developed countries is about 1.2 children per woman, so the one child policy seems to have merely hastened the inevitable.

    Sooner or later China, with the retro pre WWII warlord chic of the PLA (closely resembling that of 1930's Japanese military), will be embroiled in a regional war that may or may not escalate. I see it as an inevitability.

    As Chinese consumers consumer more, work less and demand more pay, the trade surplus will shrink and jobs will move to cheaper countries (as you yourself point out).

    As for crime, the communist party of China with its corrupt party officials is perhaps the largest criminal organization in the world, skimming the cream off of the production and having no qualms about wholesale murder of its own citizens when its existence is threatened (Tienanmen square, anyone?).

    Hitler and Mussolini made their economies boom and trains run on time by quashing human rights and committing violence against their fellow citizens and allowing state backed unfettered crony capitalism. I don't see present day China as any different.
    Nov 21, 2014. 10:50 AM | 3 Likes Like |Link to Comment
  • China cuts interest rates as economy slows [View news story]
    I didn't say the US system was any better...
    Nov 21, 2014. 10:34 AM | 1 Like Like |Link to Comment
  • China cuts interest rates as economy slows [View news story]
    Trying to prop up that whole real estate market that is threatening a total collapse after 12 months of falling prices...but wall street says "to the moon, Alice!"
    Nov 21, 2014. 07:21 AM | 4 Likes Like |Link to Comment
  • Spectrum bids top $24B; AT&T/Verizon seen spending heavily [View news story]
    in the twenties plutocrats "cornered the market" in wheat or cattle. Now the carriers are "cornering the market" in spectrum making sure they squat on as much of it as possible. The difference between cornering the market in wheat and in spectrum is this - wheat grows again next year.

    The FCC should not allow spectrum to be squatted on...literally as well as figuratively
    Nov 19, 2014. 09:17 PM | 2 Likes Like |Link to Comment
  • Salesforce provides light FQ4 and FY16 guidance [View news story]
    Light guidance = headline "Salesforce beats estimates" followed by a fawning Cramer lobbing softball questions to the Benioff followed by a gushing peroration from Cramer about how great Salesforce is.

    In the meantime, company keeps paying the bills with stock and still can't show any earnings!
    Nov 19, 2014. 08:09 PM | 7 Likes Like |Link to Comment
  • No holiday red cups for Chipotle [View news story]
    when you serve real food, you can do what you want. when you serve fries made from powdered and extruded potato paste, you better start promoting.

    Chipotle serves real food. It can't be compared to Wendy's & Mcdonalds

    I bought a 1000 shares on the day it opened for trading at $44ish and sold it at about 60ish months later...when the weather is cold and a wind is blowing I can still feel the pain...
    Nov 19, 2014. 09:26 AM | 1 Like Like |Link to Comment
  • Eye-popping pay at Pimco [View news story]
    Most people have no choice to be in PIMCO funds. Its a decision taken by their employer/IRA plan/pension fund manager.
    Nov 14, 2014. 04:07 PM | Likes Like |Link to Comment
  • Eye-popping pay at Pimco [View news story]
    Well...now that man is managing 290 million at JNS...
    Nov 14, 2014. 09:25 AM | Likes Like |Link to Comment
  • Twitter -6%; S&P assigns junk rating, analyst day reactions arrive [View news story]
    Costolo spouted pure gibberish and analysts lapped it up and spewed it out. Twitter seems to lack even minimum spam protection...instead of fixing the endless spam, he spouts gibberish....
    Nov 13, 2014. 04:25 PM | 1 Like Like |Link to Comment
  • Is Alibaba Worth $300 Billion? [View article]
    @Dimopoulos

    I reproduce from the prospectus

    The audit report included in this prospectus is prepared by auditors who are not inspected fully by the Public Company Accounting Oversight Board and, as such, you are deprived of the benefits of such inspection.

    As an auditor of companies that are publicly traded in the United States and a firm registered with the Public Company Accounting Oversight Board, or PCAOB, PricewaterhouseCoopers is required under the laws of the United States to undergo regular inspections by the PCAOB. However, because we have substantial operations within the People’s Republic of China, a jurisdiction where the PCAOB is currently unable to conduct inspections without the approval of the Chinese government authorities, our auditor and its audit work is not currently inspected fully by the PCAOB.

    Inspections of other auditors conducted by the PCAOB outside of China have at times identified deficiencies in those auditors’ audit procedures and quality control procedures, which may be addressed as part of the inspection process to improve future audit quality. The lack of PCAOB inspections of audit work undertaken in China prevents the PCAOB from regularly evaluating our auditor’s audits and its quality control procedures. As a result, shareholders may be deprived of the benefits of PCAOB inspections, and may lose confidence in our reported financial information and procedures and the quality of our financial statements
    Nov 13, 2014. 02:30 PM | Likes Like |Link to Comment
  • Is Alibaba Worth $300 Billion? [View article]
    "However, with PricewaterhouseCoopers (NYSEARCA:PWC) as the accounting firm, there is a very low likelihood of financial manipulation for Alibaba."

    Can you say that with a straight face? ENRON (yeah pWC was there along with Arthur Andersen), AIG, Satyam Computer, LIBOR rigging, Tyco, Tesco, Colonial Bank, Hertz, backdating options at Andreesen Horowitz, MFGlobal, Bear Stearns, Barclays, Olympus, ....

    I could go on and on and on and on...it's like a never ending hit parade...

    To pump chinese stock to SA readers on the basis of a big 4 audit frankly ranks as really bad advice.

    Here's my advice. Stay away from BABA. You'll never know when WS will stop pumping the stock, leaving you holding the baby. Already, Jack Ma has listed the company once and then taken it back private again in HK (at the "IPO" price, pocketing the profit in between listing and going private again). A fact left out by the author of this article.

    And then he tried to seperate Alipay from Alibaba claiming he alone owned it, when caught, he gave a token payment to Yahoo, robbing Yahoo blind in the process, in my opinion. Another little story left out by the author.

    I would not be surprised after all the Alibaba partners unload their shares in a year or so, for the Chinese government to make noises regarding the legality of the Cayman Islands VIE, making the shares tank and for Alibaba to become a private entity again. Again author left out any mention of the dubious legality of the VIE.

    Perhaps, the author should spend some time researching Jack Ma if he hasn't. If he has, it was remiss not to share some examples of Jack Ma's treatment of his investors.
    Nov 13, 2014. 02:14 PM | 2 Likes Like |Link to Comment
  • Boeing Is A Dividend Investment Trading At A Discount [View article]
    Been flying on mideast airlines like emirates. Hard not to feel lonely in the empty planes....huge risk for BA to accept orders from mid east state backed airlines, when the mid east states have a history of huge capital misallocations in insane business ventures
    Nov 13, 2014. 12:37 PM | Likes Like |Link to Comment
  • Yahoo acquiring BrightRoll for $640M in cash [View news story]
    Marissa seems to be a dire straits fan...strains of "money for nothing" drifting out of her office cum nursery...
    Nov 11, 2014. 10:59 PM | Likes Like |Link to Comment
  • Reuters: Apple stepping up efforts to win over enterprises [View news story]
    I don't hold high hopes for Windows 10. Early indications are its going to be a cosmetic remake of 8. Most of yes men haven't been kicked out and it would be too much of a loss of face to undo the harm done in Windows 8
    Nov 11, 2014. 03:32 PM | 1 Like Like |Link to Comment
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