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Guy Cohen

 
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  • Why Morgan Stanley Will Grow While Other Financials Remain Flat [View article]
    Thanks Leigh - interesting take. Unfortunately I do not think Morgan Stanley has the brightest future, especially in the Financial space. I know your article is specifically about the earnings estimates but let's take a look at the MS business model:

    Morgan has done a number of things wrong in the last 24 months. They finally completed the merge with Smith Barney and created a divided house in doing so - MS employees and SB employees may as well be foreigners speaking different languages. With this integration the system transition led to a massive flood of Financial Advisors (some of the biggest PWM teams in the nation) jumping ship to other firms. That's just the beginning of the problem - FA margins are being cut left and right and MS isn't nearly as flexible with there rates on equity loans and express credit lines (Merrill is pretty awful as well but Wells Fargo is known for undercutting everyone in the industry.

    I am not speaking about their underwriting business as I know they are a major player in the space but from a wealth management perspective (yes they have an army of 18,000 FAs) we will see a major shift in the next 10-20 years. People will no longer pay there brokers 150 basis points for sitting around and reading the newspaper - not when companies like WealthFront are charging 1/10 the price while providing the same level of service and generating equal or greater returns.
    Apr 16 07:45 PM | Likes Like |Link to Comment
  • Rubicon: A Programmatic Pure Play [View article]
    PoF - here is an article I think will help better educate readers on the amount of potential jobs lost not just in this industry, but the overall jobs market: http://econ.st/1jk9K4J

    Smarter software = less employees... What will highway patrolman do once driverless cars dominate the streets (capped at speed limit rates).... what will insurance companies do once these cars begin interacting with each other to prevent accidents....
    Apr 14 02:11 PM | Likes Like |Link to Comment
  • Rubicon: A Programmatic Pure Play [View article]
    Excellent article Greg, Bravo!

    Well articulated and surely food for thought considering the future potential within this industry. Always nice to hear from someone on the ground floor who can see the landscape shifting before the transition actually takes place.

    Apr 14 10:50 AM | 1 Like Like |Link to Comment
  • Valuable Insights And Seeking Alpha [View article]
    Excellent work Chris!
    Apr 3 05:12 PM | Likes Like |Link to Comment
  • 3D Systems Is The Phil Ivey Of 3-D Printing, Versatile And Smarter Than $26 Bears [View article]
    Big fan of Phil Ivey - thanks for the article, great stuff.
    Mar 24 10:23 AM | 2 Likes Like |Link to Comment
  • A Short With Benefits: Benefitfocus [View article]
    Thanks for the response Sniper - the coming months will be a true test to the resilience and investor confidence in the future of BNFT.
    Mar 12 09:04 AM | Likes Like |Link to Comment
  • A Short With Benefits: Benefitfocus [View article]
    Thank you for the article sniper fund... very informative and always interesting to see an underwriting with conflicts of interest.

    The macro factor of the fed tapering will affect all stocks - not just cloud computing.

    Other than the plateaued margins (30% less than other industry competitors) and the smaller YOY growth rate - can you elaborate more about their fundamentals.

    How does their balance sheet compare to that of competitors?
    Mar 11 08:49 AM | Likes Like |Link to Comment
  • Berkshire Hathaway's Performance Vs. The S&P Is An Artifact [View article]
    "Investment is most intelligent when it is most businesslike".

    The truth is - and same goes for any other behemoth like Berkshire or PIMCO - is that the value of this company is not only in the tangible assets - but the humans that are the driving force for each business unit.

    Buffet has planted the right seeds by putting executives who he believes can perform (Ajit Jain, Tony Nicely) in the right place.

    The question from a 30,000 foot view is: who will be able to take over and lead the company as Buffett has over the past 50 years. The reason Berkshire is so successful is directly attributable to his astonishing and unforgiving investment discipline.

    If Mr. Buffett was immortal I would buy BRK and never look back... unfortunately he is not and Charlie Munger is 90 years old... who will be next to sit on the Iron Throne, and will they be able to thrive, as The Oracle has?
    Mar 5 02:31 PM | Likes Like |Link to Comment
  • Is American Realty Capital A Monster Or A Machine? [View article]
    Brad - thank you for another well presented and thorough analysis - although I have to disagree with you... My Wildcats (Arizona) are the team to watch for this month :)
    Mar 3 10:44 AM | 1 Like Like |Link to Comment
  • How Todd Combs And Ted Weschler Outperformed The S&P 500 And Warren Buffett In 2013 [View article]
    Thanks for the work - very informative!
    Mar 3 09:32 AM | Likes Like |Link to Comment
  • Ubiquiti Networks: Another Big Year Ahead, Get In Now On The Short Term Sell-Off [View article]
    Just want to remind everyone we are up over 20% in 14 trading days :)
    Dec 28 08:31 AM | Likes Like |Link to Comment
  • Chris DeMuth, Jr. Positions For 2014: Certain Industries Are Ripe For Consolidation [View article]
    Great piece Chris - appreciate all of the insight. This quote particularly hit home with me:

    "Investing should involve keeping your money safe and getting an adequate return. Anything else that you might crave - excitement, a connection to something cool, validation, ego - should be satisfied elsewhere."

    My old boss used to say: "Capital preservation and adequate growth - that's what we do. If you want an adrenaline rush go kick a soccer ball!"
    Dec 23 03:05 PM | 2 Likes Like |Link to Comment
  • At A Decade-Long Low, Annaly Capital Management May Be A Buy [View article]
    Despite tax loss selling - on what basis do you expect a big rebound?
    Dec 17 01:15 PM | Likes Like |Link to Comment
  • A Shopping List Of Doorbusting CEF Discounts [View article]
    Failed to mention PCI & DSL.
    Dec 14 10:00 PM | Likes Like |Link to Comment
  • The Right Time For DoubleLine [View article]
    Akaralph,

    Go to this link and flip to slide 15:
    http://bit.ly/18G0dNZ

    Can't argue with facts.
    Dec 12 11:48 AM | 3 Likes Like |Link to Comment
COMMENTS STATS
34 Comments
30 Likes