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  • How The Portugal Telecom Mispricing Went And Other Musings [View article]
    obrigada Paulo for Portugal Telecom
    everyone bought too soon but I think it will revert to properly being priced
    Aug 11 08:22 AM | Likes Like |Link to Comment
  • Orocobre Production On Schedule For August: Shares Up Over 30% In 2014 [View article]
    If Mr Filice wrote about this stock favorably before, how is it that he owns none of it himself??
    Jul 22 09:44 AM | Likes Like |Link to Comment
  • Chicago Bridge & Iron: Acquisition Accounting Shenanigans Dramatically Inflate Profitability - Prescience Point Initiates At Strong Sell [View article]
    my last comment was removed by seekingalpha which is why there is a sudden mention of shire. I said nothing whatever about the anonymous author but did wonder how the rules of evidence on what people present on this site are applied by the supposed neutral editors, specifically their demand for citations by writers when they say something which is not widely known, in my case a note about an obscure UK listed fund, Africa Opportunity Fund which I wrote would be fully listed because an anonymous but knowledgeable source told me it would be. SA demanded that I reveal my source; as a journalist I don't do that. Now my editor at SA Yosef Levenson (the big beard) has left, perhaps sacked, and my article has been removed, and now my comment on why I am not writing any longer for SA (after nearly 7 years--I go back) has also been deleted. goodbye
    Jun 27 08:02 AM | 1 Like Like |Link to Comment
  • Is Vale SA A Wise Investment? [View article]
    VALE did not sell VLI its logistics unit as this anonymous author writes. Anonymous authors are a pain because it is hard to check on their background.
    Vale sold 36% of VLI to a Brazilian Pension Plan and a Japanese firm. Of course the purpose was to free up capital given the low price of iron ore which ultimately depends on Chinese growth. China is the big kahuna in the iron ore pellets market supplied by Vale from Brazil and BHP-Billiton and Rio Tinto form Australia.
    The dividend in my opinion is safe but if you want to be safer still, Vale has a preferred stock with no voting power (a vote is pretty useless given the Brazilian holdings in any case) with a first call on profits. We used to own it but now only own part of our original stake in Vale over at http://bit.ly/mSQR30 which I am editor of. I am signing this as I am not anonymous and speak based on research I take responsibility for.
    Jun 24 04:00 PM | 8 Likes Like |Link to Comment
  • Chicago Bridge & Iron: Acquisition Accounting Shenanigans Dramatically Inflate Profitability - Prescience Point Initiates At Strong Sell [View article]
    you are wrong. It is Shire
    Jun 23 09:04 AM | Likes Like |Link to Comment
  • Want To Find Alpha In This Market? Invest Abroad [View article]
    thanks for a clear explanation of why Royal Dutch Shell, Unilever, and other co-listed shares from Britain and The Netherlands or Britain and Australia have different dividend taxes which affect their stock prices.
    However there is an error. VOD is the ticker symbol for Vodafone not Vodacom.
    best wishes from the editor of http://bit.ly/mSQR30, the ADR newsletter now banned from seekingalpha.com for not giving out her sources. But they should have spotted the wrong ticker symbol.
    Jun 23 08:57 AM | Likes Like |Link to Comment
  • Accenture PLC - Dividend Fact Sheet [View article]
    this talk of a higher tax over an Irish NYSE-listed stocks is weird. Unless Dividend Engineer is resident in an offshore tax haven or some such, in which case he or she will be subject to Irish withholding tax at 15%, which will not be recuperable, the normal income tax on Accenture would be 15% and cover taxes due to Engineer's country of residence. For US residents, like me, there is no withholding at all for Irish dividends.
    Since Engineer is another one of these seekingalpha anonymous writers it would help if we knew where the person putting this stuff out is located because it makes a difference to the common tax-paying reader.
    Jun 21 04:16 PM | 1 Like Like |Link to Comment
  • Chicago Bridge & Iron: Acquisition Accounting Shenanigans Dramatically Inflate Profitability - Prescience Point Initiates At Strong Sell [View article]
    I was sent a copy of the Prescient Point report before the article appeared on http://bit.ly/89UJPz, but I had no prior relationship with Eiad Asbahi who sent it. I have no idea why I got it; perhaps because my website says that I own and recommend CBI. But Mr. Asbahi is not a subscriber and has no right to view our portfolio.
    So I assume that one of my paid subscribers gave him my details. Or that seekingalpha.com for which I used to write did so. The way short sellers get their mojo is to get everyone into a selling panic, and I tend to resist that sort of reaction to a short seller report.
    Now for a bit of elementary accounting. We know that CBI overpaid for SHAW. In fact I own CBI because I knew (from analysis by Credit Suisse which I got from my broker, e-trade) that the CBI offer was too generous. I bought SHAW as a result in order to get CBI on the cheap.
    And as expected, especially with the nuclear horrors then, CBI had to write down some Shaw assets. The big mistake the Prescience people are making is to get hysterical about the move of some contracts from current to backlog.
    They rightly point out that some deliveries have been delayed to two US nuclear utilities on Shaw contracts which cannot be filled on a timely basis. When the deliveries are delayed the current maker, CBI, is not paid. But the contracts are still out there and you put them into the backlog because at some point they will be fulfilled.
    That is not flimflam; that is double-entry bookkeeping.
    The valuation of the backlogged non-delivered stuff is whatever the contract called for. There may be seepage because before Fukushima Shaw almost certain priced stuff aggressively to win sales contacts.
    So we can guess the amount of sales the backlog will eventually produce; but the profit may be lower than what CBI expected when it bought Shaw. That results in restatement of goodwill, another matter of accounting prudence.
    Given that CBI in its minimal reaction so far to the Prescience short attack has again confirmed its profit and sales guidance for 2014 is significants. You don't confirm your forecasts lightly as you have to get ok from your accountants, and if you misstate matters the SEC comes after you.
    As former Shaw owners of CBI we are well in the black and as a nuclear nut I want to be in this business for the long haul. I am too spooked to buy more CBi although that is what one broker is recommending now. But I ain't selling either based on Mr Eiad Asbahi's attack.
    Jun 19 09:08 AM | 4 Likes Like |Link to Comment
  • CYNK Technology: Promoters Push Market Cap To $655 Million Despite $39 In Assets And No Revenue; 100% Downside [View article]
    why didn't the stock promoters not use http://bit.ly/89UJPz to boost the CYNK share price? others have done so with offerings only barely less credible.
    Jun 19 08:43 AM | 1 Like Like |Link to Comment
  • Chicago Bridge & Iron: Acquisition Accounting Shenanigans Dramatically Inflate Profitability - Prescience Point Initiates At Strong Sell [View article]
    Having sold two Buffett picks, BYD and Posco, of course with fear and trembling, I am not necessarily reassured by the presence of nearly $10 bn in Berkshire Hathaway holdings of CB&I. I also think the drop in the price of the share may just have been the result of savvy managers on the take realizing that Prescience was on its way.
    We owned SHAW and were taken over at a huge gain by CBI which I chose to hang on to. I am a nuclear nut and want to see more electricity generated from clean fuel in the USA, which is how we get into this stuff. But having said all that, I think one thing the Prescience fellows failed to include in their analysis is how the market for SHAW's power plants was affected by a huge event we all know about: Fukushima, the Japanese nuclear disaster. A restatement of a few bucks for the impact of that on nuclear contracts would seem to be something other than flim-flam.
    So now we know what led to the restatements. We know that there are risks in old cost-based contracts which CBI didn't spot before the merger. I mean this goes on all the time in respectable companies. Does anyone look at HP restatements? Just because the firm is female-headed doesn't mean I don't.
    Jun 18 08:55 AM | Likes Like |Link to Comment
  • Why Schlumberger's Stock Is A Long-Term Investment Opportunity [View article]
    I am not saying to buy now. I am just saying that those in it already should probably hang on.
    Jun 16 09:38 AM | Likes Like |Link to Comment
  • Why Schlumberger's Stock Is A Long-Term Investment Opportunity [View article]
    Moreover with the high risk of problems in Iraqi oilfields now, there will be more interest in developing alternative sources using SLB technology to find them. I have been long SLB since... 1966!! I wrote an article about SLB for The Economist, my then employer and after the required week bought shares for myself.
    I sold half my then holdings in 1971 to buy a house but still own the rest. It is controlled by a French family called Seydoux, formally listed in The Netherlands Antilles, and run out of Houston TX by. most recently, a Norwegian and earlier a Scot and a Frenchman. A perfect http://bit.ly/mSQR30 stock.
    Jun 15 03:51 PM | Likes Like |Link to Comment
  • The Risks Of 'Guru Investing' [View article]
    oui oui oui
    Jun 10 06:56 PM | Likes Like |Link to Comment
  • My Best Yield Idea: RBS Preferreds [View article]
    RBS has need of the Citizen's stock sale proceeds for other things than buying back the prefs. It would have to pay $25 per share which is expensive money today.
    Jun 10 06:51 PM | 2 Likes Like |Link to Comment
  • DRIP: A Much Worse Deal Than You Think [View article]
    the only drips to consider are ones which offer you new shares at a discount. this happens sometimes in Canada.
    May 28 09:40 AM | Likes Like |Link to Comment
COMMENTS STATS
259 Comments
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