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Elliott R. Morss

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  • Gambling - Asia And The U.S. Are 2 Different Worlds [View article]
    Gents:

    Thanks for your comments.

    Nicholas: I don't know numbers on MGM, but their new "resort" in Springfield will be interesting to watch. They had to figure that with their location, they could pull customers away from the "financially distressed" Foxwoods and Mohegan in CT.

    Wynn is serious bidder in Boston and I am not sure why.

    MA towns do not want gambling - already 4 have said no. Dominant image probably Atlantic City and the Mob - not appealing for families. Not a problem in a crime-ridden area in Springfield where MGM will pay to reduce crime.

    Ryan: If you are in Tahoe, is not Reno closer than LV?

    Casinos' appeal to smoking drinkers who mostly poke at buttons on slots makes casinos less appealing to families.
    Apr 15 08:55 PM | 1 Like Like |Link to Comment
  • Western Financial Support For Ukraine: What Can Be Learned From The Bailout Of Greece [View article]
    econkimo:

    Thanks for your comment. For the most part, I agree with you.

    I would also say it was a big mistake for the US to push hard to get NATO so close to Russia: shades of Russian missiles in Cuba and Taiwan trying to leave China.

    But sadly, Western politicians want to push on. The major point of my article was to highlight the major problems with a bailout....
    Mar 3 01:59 PM | Likes Like |Link to Comment
  • Who Are The Big Investors? What Do They Buy? [View article]
    James and Chaz:

    In the context of this article, "Rebalancing" is a fudge term used by asset managers to do almost anything in hopes of cutting losses and running when the strategy they profess to be following is not working out.

    So when I, as your client, call in a rage and say managed volatility is losing me money, you can say: "Nothing wrong with strategy, I am "rebalancing".
    Feb 26 09:02 PM | 2 Likes Like |Link to Comment
  • Reasons The FCC Should Block The Comcast/TW Merger [View article]
    UES:

    Politics are certainly at play here. But I think the lobbying monies spent annually by the communications firms are far more important than any dealings O might have with the head of Comcast.
    Feb 17 11:08 PM | 1 Like Like |Link to Comment
  • Reasons The FCC Should Block The Comcast/TW Merger [View article]
    JH:

    The US anti-trust law on this natter is well established.: In a nutshell, fewer competitors means less competition. The FCC has the legal authority to stop this merger on anti-trust grounds.
    Feb 17 11:05 PM | 2 Likes Like |Link to Comment
  • Reasons The FCC Should Block The Comcast/TW Merger [View article]
    jf:

    Can you support your claims with data?

    I think the data would show there are many one provider towns/counties/regions in the US.

    And that number will increase dramatically of this merger is approved.
    Feb 17 08:47 PM | 1 Like Like |Link to Comment
  • Reasons The FCC Should Block The Comcast/TW Merger [View article]
    JH:

    Right now, I am most worried that the merger will reduce competition. I live in a TW town but Verizon is trying to get in (2 providers much better than 1). If the merger goes through, I am worried that Verizon will give up.

    Regarding your suggestion, what justification would the FFC have to block Comcast?

    As things now stands, the FCC has the legal mandate to say no to this merger..
    Feb 17 08:39 PM | 2 Likes Like |Link to Comment
  • Investing In 2014: How About Asia? [View article]
    yeti:
    Of course you are right. There are investment opportunities just about everywhere, including India and Greece. In my writing, I offer macro economic and governance "filters" for investors to think about before investing.

    I also believe that most equities are pretty accurately priced - just look at the amount of money investment houses put into their research and investments.

    It is probably more appropriate for individuals picking stocks to view the activity as a hobby rather than as a way to make money.
    Jan 10 09:06 AM | Likes Like |Link to Comment
  • Investing In 2014: How About Asia? [View article]
    Ben Gee:

    Unlike the US where special interest groups dominate politics, the government of China can make decisions. And because the Party likes being in charge, they do things the people like which means good planning and anticipating infrastructure needs in advance.

    But do the numbers on the nuclear plants being built in China, and you will see they cannot replace coal in any significant way - http://bit.ly/19YOI4T.

    India, sadly, is not the same as China. Its government simply cannot get important things done. I worry about India's future.
    Jan 7 10:06 AM | Likes Like |Link to Comment
  • Investing In 2014: How About Asia? [View article]
    Rick & Samuel:

    Thanks for your comments. Many good points.

    It happens that my economic data came from the IMF which checks government data with some care. In fact, it is currently threatening to kick Argentina out because of faulty inflation data (guess which way). I also check IMF data against FocusEconomics data - they compile data of estimates from the big international banks - and their data in this case is not all that different from the IMF data.

    Pollution? A different matter - China, like India needs all the energy hey can get their hands on to support their growing middle class populations. Rather than cutting back on coal, they are importing it. For more on this, see - http://bit.ly/19ObHlQ.

    The good side - China is imposing energy-saving requirements far more rapidly than the West. Like hot water heaters on larger buildings must be solar energy driven....
    Jan 6 08:43 PM | 1 Like Like |Link to Comment
  • Investing In 2014: How About Asia? [View article]
    Yeti:

    I used ETFs primarily to portray how its stock markets are doing.

    I fully agree with you that you should be able to do better by purchasing stocks or ADRs selectively. In fact, I will be doing a followup article on specific investments in The Philippines.

    I did not leave out India. I am very concerned about its governance. It is a train wreck happening.
    Jan 6 06:16 PM | 1 Like Like |Link to Comment
  • Investing In 2014: How About Asia? [View article]
    hks:

    I have worked in many countries and after a while, I get to understand a bit about how the government and business people think and act.

    For me, that never happened in either Japan or Korea. Maybe I have a cultural blind spot....
    Jan 6 01:11 PM | Likes Like |Link to Comment
  • 2013 Year Of Rotation Out Of Fixed Income Into Equities, How Much More In 2014? [View article]
    W56:

    Like Ng, I am not sure what you are saying. When US interest rates fell in 2008, the prices of fixed income bonds rose as people purchased them to obtain interest returns higher than the new low rates. For existing bond holders, the could either stay in to maturity or take capital gains.

    The situation has now been reversed: interest rates are increasing. That means the prices of existing bonds will fall as the market adjusts them for higher interest rates. So if you are looking for capital gains, better get out of bonds now.

    The stock market? The US economy is recovering and the world knows it. As US Treasury rates rise, maybe more capital inflow will go into bonds than earlier, but I see a large capital inflow for both.

    Not sure why 4% on short term rates is key.
    For a lot of older people living on fixed income, higher interest rates will be great.
    Jan 4 08:56 PM | 1 Like Like |Link to Comment
  • 2013 Year Of Rotation Out Of Fixed Income Into Equities, How Much More In 2014? [View article]
    LG:

    Good article.

    I think it is certain that US interest rates are on the way up. That means the interest rates of existing debt will also have to rise and prices on existing debt will have to fall.

    So if you are trying to make capital gains on fixed income debt, your time has come and passed.

    But you made a very important point: "holding Treasuries till maturity is one way of not having to answer these questions."

    And it not just Treasuries. Despite the highly publicized defaults of Detroit and a few other municipalities, most municipalities will not default. And tax free income on municipal bonds held to security at even current rates will be fine for many (including me).

    And keep in mind, much US and foreign money went overseas when QE2 started searching for higher returns, and that money will return as US rates rise, so capital losses on US debt will be mitigated somewhat.
    Jan 3 08:56 PM | 2 Likes Like |Link to Comment
  • Dodd-Frank (With Volcker Rule) Being Implemented: Are We Safe From Another Bank Meltdown? [View article]
    mph:
    Thanks for comment, but we differ. You suggest "these institutions understaffed but they are also staffed by people that are not well informed or capable of detecting problems."

    I do not believe regulation of this sort of stuff can ever work. The regulators will always be made fools of by Goldman and the like.

    My solution? Get depository institutions back to managing their own loans and not trading. How? By limiting FDIC insurance to depository institutions that don't trade and manage their own loans.

    I favor risk taking but not by institutions that hold our deposits. And yes, every so often, a few will go belly up. Fine. Global panic only occurs when depositors fear their deposits are at risk.
    Jan 1 08:32 PM | Likes Like |Link to Comment
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