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Elliott R. Morss

 
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  • The Eurozone Is Doomed: Why ECB Bond Purchases And The Greek Election Don't Matter [View article]
    Jion:

    Thanks for this. These are the times risk-takers make (and lose) lots of money.
    Jan 27, 2015. 06:07 PM | 1 Like Like |Link to Comment
  • The Eurozone Is Doomed: Why ECB Bond Purchases And The Greek Election Don't Matter [View article]
    jgrever621:

    I have no doubt the EURO will not collapse, certainly as long as Germany, Austria, and the Netherlands remain part of the Eurozone.

    The next challenge will be what to do about the unsustainable Greek debt, now at about 170% of its annual GDP.

    The Germans view this debt "renegotiation" as yet another "social program". They are also concerned because its banks hold a lot of this debt.

    What will happen on this is the most immediate uncertainty the Eurozone will face, and more will follow.
    Jan 27, 2015. 02:13 PM | Likes Like |Link to Comment
  • The Eurozone Is Doomed: Why ECB Bond Purchases And The Greek Election Don't Matter [View article]
    mobyss:

    There is certainly growing political pressure in Germany to leave the Eurozone. And if they did, Austria and the Netherlands would probably soon follow. Idle speculations?

    Certainly, Germany is focusing on Asia, the US, and Latin America for exports. But it can't really forget about selling to other European countries when they add up to more than 20% of German exports.
    Jan 27, 2015. 10:39 AM | 1 Like Like |Link to Comment
  • The Eurozone Is Doomed: Why ECB Bond Purchases And The Greek Election Don't Matter [View article]
    8thman:

    Interesting why the purchased so much Greek debt. As I have pointed out elsewhere -http://bit.ly/1zR1D7d, European bank regulators allowed European banks to treat sovereign debt as safe as cash in calculating their reserve requirements. And with this incentive and the high Greek debt interest rates, who could resist.

    Another sad case in the futility of bank regulation.
    Jan 26, 2015. 08:41 PM | 4 Likes Like |Link to Comment
  • Will The Big New Moves Send Ripples Or A Tsunami Through The Northeast Gaming Scene? [View article]
    Another defense the casino "resorts" have against the Internet is that they offer a complete family experience. And this opens up a huge new market for the casinos. Keep in mind that increasingly, people purchase goods online. But you would not know it if you went to an enclosed mall in northern states on the weekend. It is a place where the entire family goes on the weekend.

    My sense is that the smart casino resort marketers know this as well and pitch the complete experience. I live in MA and am looking forward to visiting the MGM and Wynn resorts, not for gambling but for restaurants, shows, and new hotel rooms at reasonable rates.
    Jan 3, 2015. 10:47 AM | 1 Like Like |Link to Comment
  • Will The Big New Moves Send Ripples Or A Tsunami Through The Northeast Gaming Scene? [View article]
    Howard:

    Thanks again for your excellent piece.

    Here is my take on what is happening. A few years back, US gambling casinos had become the one place people who like to drink and smoke in public could go. They were a sad bunch sitting at the slots and a very bad image for the industry.

    So what happened? The new goal became to project the image of a family place, like a Disneyland, that has a gambling facility attached. And look at Foxwoods - they are not adding new gambling space but instead adding 75 discount outlets.

    I am very bullish on the Wynn resort in Revere. Boston has a large number of well-heeled financial, health, and academic professionals visiting via Logan Airport. The Blue Line subway has a stop in East Boston, only 2 minutes by shuttle from the airport. It goes to Revere. And of greatest significance, that same Blue Line takes people to downtown Boston directly. I can imagine a large number of professionals traveling on business to Boston will at least try staying at the new Wynn facility.

    Because of this and what you have written about Wynn and his empire, I am thinking hard about buying some Wynn stock.
    Jan 1, 2015. 01:15 PM | 1 Like Like |Link to Comment
  • Will The Big New Moves Send Ripples Or A Tsunami Through The Northeast Gaming Scene? [View article]
    Howard:

    Thanks for this very thorough article on the coming glut and cannibalization to take place in the northeast. I suggested as much in an earlier article - http://seekingalpha.co....

    If I were the governor of either MA or NY, I would have pushed for casinos as well - why loose tax revenue to neighboring states.....
    Dec 31, 2014. 10:39 AM | Likes Like |Link to Comment
  • Xinyuan Real Estate Buyback Is A Short-Term Catalyst [View article]
    Gents:

    XIN has said the reason for the TGP breakup was that their agreement placed too many financial limits on XIN. I did not buy this. My experience with Chinese RE developers is that they are far more risk averse than Western financial houses. I thought this was an excuse to cover up the fact that TGP initiated the breakup.

    But these recent purchases by XIN financed by debt has made me rethink this.

    I am now thinking TGP did not want XIN to borrow as much as XIN has now borrowed.

    Well, we will see how it pans out. There is always plenty of risk when investing in real estate developers.

    I wish all good health and returns in 2015!
    Dec 29, 2014. 06:16 PM | 1 Like Like |Link to Comment
  • Why Write On Seeking Alpha? [View article]
    JN:

    Well put.
    Dec 22, 2014. 08:42 PM | 2 Likes Like |Link to Comment
  • Why Write On Seeking Alpha? [View article]
    Chris:

    Thanks for addressing this interesting topic.

    A commentator said he was troubled by the SA "writers with few or no qualifications". I wonder what "qualifications" he thinks are needed. I kook for good ideas - ideas I have not thought of and data.

    On stocks or other publicly traded investments, I am troubled if I sense the author has not taken the time to review the SEC filings....

    On moderating comments, I reference the SA editor above talking about readers reporting abuse. I report abuse regularly when I see a comment criticizing an author that makes no reference to the topic of the article. I view it as a "civic duty" - to maintain the high quality of the comment section. I don't know of another financial site with comment section even close to SA's. I always learn something new from SA comments on my pieces.

    I rarely write an article for pay on SA because I want exposure (and comments) from as many sites as will post my pieces.

    Incidentally, when I checked Chris' profile, I note he does not have a "Perfomance" tab, even though he has written a lot of for pay articles.

    I did a piece on the SA performance data that might make you chuckle - http://seekingalpha.co....
    Dec 21, 2014. 08:40 PM | 1 Like Like |Link to Comment
  • Recent News From Xinyuan Real Estate Not Good, But... [View article]
    CB:

    Take a look at data in Tables 2 and 3 and related text. XIN has plenty to cover debt if they get anything like the average square meter price they have received on prior sales. I figured they would get $1.6 billion if they sell active properties at prices they have been getting. In addition, they have another one million square meters under development that should yield another $1 billion at prices they have been getting.
    Dec 12, 2014. 11:19 PM | Likes Like |Link to Comment
  • Xinyuan Real Estate Buyback Is A Short-Term Catalyst [View article]
    VM:

    So XIN was NEVER on the site? I only checked a couple of weeks ago. Actually never on the site is better news than that they removed it....

    Theories for never: in their press releases, XIN refers to TPG Asia and not just TPG.
    Dec 8, 2014. 08:10 PM | Likes Like |Link to Comment
  • Xinyuan Real Estate Buyback Is A Short-Term Catalyst [View article]
    Regarding what TPG is likely to do with its 7% of the companies shares, it might be notable that XIN is not even mentioned on the TPG web site. I don't know if was mentioned earlier, but I view this as a bit ominous....
    Dec 3, 2014. 10:01 AM | Likes Like |Link to Comment
  • The Real Reason Saudis Didn't Cut Oil Production [View article]
    In the above, a number of commentators have put out one or another set of numbers to make their point. For a comprehensive picture on energy consumption today and what the future holds, see - http://bit.ly/1Ae7fFr.

    The bottom line is that whatever happens in the US and other developed nations, global coal consumption will grow for a number of years as will CO2 emissions. This growth will be driven by the huge and growing energy demands of China and India.
    Dec 2, 2014. 11:18 PM | Likes Like |Link to Comment
  • The Real Reason Saudis Didn't Cut Oil Production [View article]
    Mr. Reitman:

    I agree. I suggested a hedge against an oil price spike back in August - http://bit.ly/1vDrI6w.

    The timing was off. But just look at the major oil suppliers. If just one or two of those powder kegs blows, we will be looking at the oil sector very differently.
    Dec 1, 2014. 09:30 PM | Likes Like |Link to Comment
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