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Eric Parnell, CFA  

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  • Why Cash Is King [View article]
    Hello AuCoaster,

    Thanks for your comment and for raising a good point. Of course, a variety of other factors typically are considered other than the ease of executing a transaction when selling existing positions. For example, if one desires to purchase a new holding and is forced to sell an existing position to raise the cash for the transaction, it may have meaningful tax implications in the form of realizing gains. Or in another instance, if one forces a position in place that is at a less than desirable valuation/price, they may end up selling it at a lower price later in order to buy the next position that they otherwise have no cash on hand to purchase.

    Your point is well taken, but knowing that the stock market and all of the individual securities that make it up also can move sideways or go down over extended periods of time, holding cash in these instances can prove a more preferable option.

    Very good points and thanks again.
    May 18, 2015. 09:25 AM | 2 Likes Like |Link to Comment
  • Why Cash Is King [View article]
    Hello techy46,

    Thanks for your comment and great points. Holding cash also provides the advantage of being able to buy without having to sell an existing holding, which is another plus.

    Thanks again!
    May 18, 2015. 12:29 AM | 4 Likes Like |Link to Comment
  • Why Cash Is King [View article]
    Hello Sensible Investor,

    I enjoyed reading your comment including your definitive conclusions on a number of topics and your confidence in your investment process.

    Thanks for sharing your views. Very interesting perspectives to read.
    May 18, 2015. 12:27 AM | 53 Likes Like |Link to Comment
  • Why Cash Is King [View article]
    Hello RecRoomScott,

    Thanks for your comment and I appreciate your kind words. I also agree with the great points that you make here too.

    Thanks again!
    May 18, 2015. 12:23 AM | 4 Likes Like |Link to Comment
  • Bulls Shouldn't Expect Help From The Fed [View article]
    Cam - Excellent article. Thanks as always.
    May 14, 2015. 09:50 AM | 1 Like Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello Dirk,

    Thanks for your comment. And I enjoyed reading your recent article on the interest rate sensitivity of REITs.

    http://seekingalpha.co...

    Thanks again!
    May 13, 2015. 12:04 AM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hi Bob,

    Thanks for your comment and sorry for my confusion! I just wanted to make sure that I wasn't missing something in my thinking.

    Thanks again!
    May 13, 2015. 12:02 AM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello Robert,

    Thanks for your reply. I appreciate it. And great point about your excellent recent article on bonds as a leading indicator, as I should have mentioned this one as well. I have included a link below for those that are interested.

    http://seekingalpha.co...

    Thanks again Robert.
    May 13, 2015. 12:01 AM | 1 Like Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello TAS - Thanks for your comment and interesting points. I appreciate it.
    May 12, 2015. 10:49 PM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello The Rebel,

    Thanks for your comment and these are very good points. It will be interesting to see how the auction goes off tomorrow.

    Thanks again
    May 12, 2015. 10:49 PM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hi Bob,

    Thanks for your comment. I may be thinking with a cloudy mind given the late hour, but I am not sure I am understanding your reference about a potential three percentage point increase in 10-Year bond yields. I regret if I suggested this in the article, as this was not my intent and I do not believe this is a likely scenario any time soon.

    If you could highlight the point in my article that you are referencing, I would appreciate it, as I'd like to make sure I provide you with a good answer to your question.

    Thanks again
    May 12, 2015. 10:48 PM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello Ted,

    Thanks as always for your comments. I hope that you are doing well. You raise a very good point about the 200-day M.A. break for both TLT and LQD. While I worry about this technical breach related to these ETFs less than I would if it were the SPY, it is still notable and warrants close attention in the near-term. What will be important is whether either can reclaim this support level in the coming days, as this would essentially refute the break. But if both persist below the 200-day, it may signal at least a short-term trend change in these ETFs. TLT has had a number of these 200-day crossovers in the post crisis period and they have ultimately led to good buying opportunities. Whether the same holds true next time, however, remains to be seen.

    Thanks again Ted. I appreciate your comment and question.
    May 12, 2015. 10:45 PM | 1 Like Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello Bruce,

    Thanks for your comment and for sharing a link to your article. I look forward to taking a look.

    Thanks again!
    May 12, 2015. 10:41 PM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello 23097633,

    Thanks for your comment and I too sincerely hope that the downside scenario mentioned in my article does not come to pass. I have been frustrated during much of the post crisis period by the insistence of policy makers to keep trying to micro manage the economy and markets, as it leads to distortions that ultimately lead to greater risks and volatility. It will be interesting to see, but I continue to hope for the best.

    Thanks again
    May 12, 2015. 10:39 PM | Likes Like |Link to Comment
  • Bond Rout: Time To Run Or Time To Buy? [View article]
    Hello Alan,

    Thank you for your comment and your kind words. I will be following up soon with more details on the points made in this article, and I am glad that you found the content here useful in the meantime. I hope you are doing well and look forward to talking again soon.

    Thanks again!
    May 12, 2015. 10:37 PM | Likes Like |Link to Comment
COMMENTS STATS
2,603 Comments
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