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George Acs  

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  • It's As Clear As Mud [View article]
    I've re-read what I wrote and don't see that interpretation at all, so it may be time to turn the nitrous a bit lower (or higher).
    Mar 21, 2015. 03:14 PM | 6 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    I don't know. It seems to me that Janet Yellen has been very clear about her intentions and thoughts. It seems that we may not be capable of accepting, understanding or believing plain, forthright and transparent communication.
    Mar 21, 2015. 02:06 PM | 4 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    Much too educated of a reference for me to comprehend. Besides, I prefer Latin, as I would imagine, based on your name, would you.
    Mar 21, 2015. 02:04 PM | 4 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    Actually, I performed all professional procedures in a state of rampaging emotions, rather than relying on any kind of logic.

    Union health care dental benefits, as an aside, is probably not where you would want your interests to reside as a prospective patient.
    Mar 21, 2015. 02:02 PM | 3 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    While you may consider the FOMC to be a joke, there's not too much doubt that they continue to have the best track record among such authorities in the world in steering the economy over the past 35 years, particularly as crisis has loomed. One may argue that the FOMC may have had a hand in crises over the years, but their ability to navigate through very murky waters, especially as the world's economies has become so inter-connected is laudable.

    As far as what you may perceive as a reluctance to increase interest rates, we still live in a world where the legacy of interest rates from 30+ years ago color our vision, much as the 1920s continued to color the perceptions of those in the 1960s.

    I think it's difficult to say that "it's too late" with regard to any Federal Reserve action on interest rates as it's almost impossible to identify inflection points in the economy in anything resembling real time.

    I think that the very nature of the protracted recovery is what makes us less vulnerable to another sharp and severe event and the manner in which the Federal Reserve has steered the economy and its growth has made us more secure.
    Mar 21, 2015. 02:00 PM | 14 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    Hard to say. I looked at the 10 Year Treasury interest rates since Yellen's congressional testimony and the past month has definitely been of two different minds.

    In the immediate period following Yellen's testimony rates rocketed higher and since then have plunged.

    Had anyone focused on the immediate period one could have suggested that the smartest guys in the room were predicting higher rates which would then surely have to come. But more recently the prediction would have been that the smartest guys are arguing against rate increases, so they would surely not materialize.

    The unfunded government liability, insofar as it would be impacted by rising rates could just as easily be offset by printing money, so I don't believe that FOMC policy would necessarily be dictated by a singular focus on government obligations to the detriment of its dual mandate.
    Mar 21, 2015. 01:49 PM | 2 Likes Like |Link to Comment
  • It's As Clear As Mud [View article]
    Thanks.

    It does seem that it keeps getting harder and harder to understand much of anything. Maybe logic is just over-rated, just as paying attention seems to not be of any use.
    Mar 21, 2015. 01:42 PM | 5 Likes Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    That may be true, but it doesn't have much in the way of sensitivity.

    That is to say that there were many times in the past few years that markets hit highs yet went even higher. The predictive capability of a new high telling us that people will flee for the hills is abysmally low.
    Mar 17, 2015. 06:49 PM | 1 Like Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    The point is well taken, in that we don't often think in terms of currencies, without getting a headache. However, there's a lot to be said for the strategies that play commodities and currencies, long or short, simultaneously.

    Way too complex for my pay grade, though.
    Mar 17, 2015. 06:47 PM | 1 Like Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    Thanks.

    Well, by an operational definition if you were astute enough to take steps to minimize currency impact, you were apparently light years ahead of the professionals who may have been asleep at the wheel and would be better on the road to being a triple threat than the guys getting the big bucks.

    My father used to train German Shepherds. They were his favorites and he was really pained to have to have left 2 behind when escaping from Hungary.
    Mar 16, 2015. 03:06 PM | 1 Like Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    I agree that losing Costco is going to hurt somewhat, as they probably represented a sizable portion of AMEX's revolving credit customers, however, the sting of that loss is likely over until it becomes real in 2016. Until then AMEX will have had a year of trying to replace loss income by raising interest rates and cutting costs.

    I don't know if I agree that retaining existing Costco card holders will be difficult or costly. No doubt that both Citi and AMEX will go after them, but the group has already been pre-screened and AMEX has plenty of time to put together a Rewards program for these customers that would entice to them to keep their AMEX sans Costco card in addition to a new Costco branded Visa card and split the spoils.
    Mar 16, 2015. 08:45 AM | Likes Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    Thanks.

    The cycle that was being referred to was the one so often seen in companies that face revenue pressures, as with American Express.

    Rather than being able to immediately find a replacement revenue stream they attack the problem from the expense side and cut workforce. In the case of American Express, a company that distinguished itself on the basis of service, that will be fine for a while and the stock may even prosper on the cost cutting. But at some point unless it finds some new way to keep itself from becoming a commodity, it has to move from a point of low customer service back to exemplary service, and that will likely mean adding workforce, at which point the stock may suffer until the added expense generates some tangible revenue.

    I'll bet you've got some stories. I'm fascinated by both the business and the clients. About 10 years ago I was driving with a friend from after a couple of days in Las Vegas to our real destination in southern Utah. We stopped in a border town casino where they had a gas station selling some liquor in test tubes and where I saw my first 1/2 cent slot machines. I think I could have stayed there all day long doing people watching
    Mar 15, 2015. 05:52 PM | 2 Likes Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    Thanks.

    I do like some of those, especially the ones with safe dividends.
    Mar 15, 2015. 03:56 PM | Likes Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    I do, but I have concerns about QCOM borrowing money for the buybacks and the stressful environment they face in China.

    I think that there might be more downward pressure in store for Intel. Not so much because I know anything about their businesses, but because over the past year or so, companies that have altered their guidance or given earnings warnings in advance of earnings still saw further declines when earnings were finally released.
    Mar 15, 2015. 03:42 PM | 1 Like Like |Link to Comment
  • Shocked And Surprised Is No Way To Manage Money [View article]
    You just have to hope that if you also use the product that you're lucky enough to enjoy the health and longevity to take advantage of all of that MOney.
    Mar 15, 2015. 03:36 PM | 2 Likes Like |Link to Comment
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