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Joe Eifrid

 
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  • PennyMac prices secondary offering; shares off 4.1% [View news story]
    PMT goes ex-div tomorrow. Do all these new shares sold today get the dividend? Does anyone know? I would seem they would, no?
    Aug 14 10:38 AM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Fidelity is wrong. That 39 cents is just for a partial quarter after the recent IPO.
    http://bit.ly/UPACHN
    Aug 13 12:56 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    39 cents was the first partial quarter dividend. That is where he probably got the .39. You are right, .46875 is the quarterly.

    Baller, I think you picked up 50 cents for my comment. I was referring to MITT-B's divy.
    Aug 13 12:45 PM | 2 Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Yep, the mREIT preferreds are hidden gems. Thanks for the article. One may want to look at MITT-a and MITT-b. They go ex-div end of month and still sporting yields here higher than others reporting later.
    MITT-b is selling here at 23.41 for a yield of 8.52. The 50 cent quarterly dividend should goes ex-div about the 28th. Taking that into consider gives an yield of 8.73%. MITT is a hybrid non-agency REIT.
    Aug 13 11:45 AM | Likes Like |Link to Comment
  • FastCompany: AmazonFresh a "Trojan horse;" 20 more markets expected [View news story]
    The problem with AMZN ever being a truly profitable company worthy of its valuation is that they think they can do at no cost to the bottomline. Services come at a cost, and right now AMZN is not passing that total cost on to the customer. They can only do that so long. I love AMZN's service and I am sure they can grow sales as long as they are not making profits. How long the market let's them get away with that is anyone's guess.
    Aug 12 08:35 AM | Likes Like |Link to Comment
  • FastCompany: AmazonFresh a "Trojan horse;" 20 more markets expected [View news story]
    "Amazon is also hoping its same-day infrastructure (replete with Amazon trucks)"

    Dang...now adding (they say investing in) a fleet of trucks to their excuses for not making a profit?? Then they will be making deliveries for others and suddenly we have the next UPS - another low margin business. http://bit.ly/13cQVZs

    "Amazon is now able to ship items less than 2.5 hours after an order is placed;"
    I just placed two orders that qualified for free shipping and it took a week to get it. I do not have prime membership. I wonder if you use the $25+ free shipping option if they delay shipping to try to get you to sign up for Prime? Other orders have come quicker.
    Aug 11 09:27 PM | Likes Like |Link to Comment
  • Q2 Bond Market Mess Produces Book Value Loss And Possible Dividend Cut For American Capital Agency Corp. [View article]
    Good read, Thanks!!
    Jul 31 01:10 PM | Likes Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Not that many shares short. Yahoo showing 2.4% of float and a short ratio of less than 1, so plenty of volume to absorb. I think there is still much uncertainty about dividends going forward, and the analyst were not falling over themselves trying to upgrade. Hopefully the FOMC will have some helpful comments in their statement tomorrow.
    Jul 30 05:54 PM | 1 Like Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Scott, Most excellent analysis!! Thanks!
    Jul 29 04:08 PM | 2 Likes Like |Link to Comment
  • Amazon.com Is Highly Valued, But Is It Overvalued? Maybe And Maybe Not [View article]
    I think you are assuming the AMZN has a proven profitable business model on a level playing field basis. I would say that yet remains to be seen.

    The bike shop is a good example. Would you buy a bike unseen online. I don't know about you but I like to feel and touch a bike that I am about to buy. If I don't buy it from that small shop and use him as a showroom instead, he may not be around later when I need service. I got a friend that owns a bicycle shop. He is hurting. Yep, he is getting by, but he is even feeling the online competition. We were talking about about a year ago as I retired and sold my business and he was telling he would be pressed to find a buyer as it is just not profitable enough for someone to pay him to take over his inventory that has taken him decades to build.

    Can AMZN stream movies for $79 a year when NFLX finds it difficult at $96. Has AMZN proven that it can do it profitably plus offer the other services of prime? I don't think so. Web services? How profitable is that for AMZN? Does anyone really know. All we know is they have cut their prices something like seven times this year alone. That doesn't sound like dollars falling to the bottom line to me.

    As krk mentioned above, let's get a level playing field and see what happens. Interesting that now that they are having collect some sales tax revenues growth is slipping. I wonder how much revenues slowing growth the market will accept from AMZN and still let them get by with obscene valuations and no profits.
    Jul 29 02:09 PM | 2 Likes Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Looking at CYS selling here at about 82% of book, if AGNC comes in at $26 on book and selling for an equal to CYS valuation, couldn't we see prices drop to the lose 21's as well at 82% of the new book?

    I don't know if the street doesn't now have this one priced just about right. We still have the question of what will happen with the dividend. Less so, but a concern that will linger.

    Of course this is short term thinking. Longer term I think we are fine. I am just not going to hold additional shares for an earnings bounce.
    Jul 29 01:05 PM | 1 Like Like |Link to Comment
  • Amazon.com Is Highly Valued, But Is It Overvalued? Maybe And Maybe Not [View article]
    "aren't you just as much a thief as the customer you mentioned?"

    Sorry, I don't understand what you are saying here. How would I be a thief?

    As far as matching prices, I learned long ago trying to compete against Home Depot that i could not compete on price if I still wanted to offer extraordinary service levels. Are you crazy? Why would I want to operate at a loss like AMZN.

    Once I stated sticking to my knitting I did very well in their shadow growing revenues 300% over 10 years. Of course what helped is Home Depot could not survive on their low margins either and once they ran a significant number of mom and pops and smaller chains out of business they raised their gross profit from about 27-28% in 1998 to about 34% today.

    Let's make all things equal in that both the small company and AMZN have to give their investors a fair return on their investment through profits, and then let's see how well AMZN does.

    Ohh...now I think where you got the 'thief' idea. No, I disagree. What the customer stole from me was my employee's time in letting the customer hold and feel, and discuss the product features and getting our professional opinion of what the best tool is for them for the job. It is costly for me to offer that. I should not be considered to be AMAZON's showroom. Year's ago I had a customer bring a lawnmower in to my store to get some help with it. I asked them why they didn't just take it back to Home Depot where they bought it to get help. They replied "well you know they don't give that kind of service". Odd the customer thought that was my job, and it was a brand of mower we didn't even sell. We were just known as the place to buy and service higher quality lawnmowers not sold in the big boxes because they could not offer that level of service.

    I told the customer "no soup for you!!"
    Jul 29 12:59 PM | 1 Like Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    AGNC and MTGE are selling for just about the same book value ratio.
    I own a little of both. I wonder if MTGE is the better bet going into AGNC's earnings??

    Just thinking out loud.
    Jul 29 11:50 AM | 1 Like Like |Link to Comment
  • Amazon.com Is Highly Valued, But Is It Overvalued? Maybe And Maybe Not [View article]
    I don't know if a revenue/employee comparison with walmart is fair. A big a part of the AMAZON business model is delivery. Should we include the delivery man hours and part of the delivery infrastructure?

    There has to be a cost to the convenience. AMZN thinks it can deliver to my home cheaper than what I can buy down the street picking it up myself. I don't know how long they can do that with out at some point having to charge for that service.

    I just noticed that over the last 2.5 years that AMZN has been investing $billions to build warehouses and technology that shareholder equity has gone up just $600 mil.

    Yesterday I was talking to one of my past employees that works at the store I sold. He mentioned that he had a customer Saturday that discussed the differences of several power tools we sell at the store. When he was done the customer thanked him for the info and said he was going to order online as it was cheaper. In my opinion that is theft. More and more I see people that think that is acceptable behavior and have no idea how unfair that is to the local store owner that pays that employee to provide excellent customer service.
    Jul 29 11:45 AM | 2 Likes Like |Link to Comment
  • Amazon.com Is Highly Valued, But Is It Overvalued? Maybe And Maybe Not [View article]
    "During the past 12 months, Amazon was on a hiring binge, bringing total employment to 97,000 at the end of the second quarter, up 40% or 27,900 positions from a year-earlier, when 69,100 workers were aboard. And it seems the hiring juggernaut continues.

    The 40% rise in employment compares to a 22% increase in sales for the second quarter, so it’s little surprise Amazon lost money in the most recent period -- $7 million, to be exact – and is projecting an operating loss for the third quarter of between $65 million and $440 million. Sales per employee have fallen as the hiring binge continues."

    From an article on y-charts.
    27,900 Reasons For Amazon's Loss
    Jul 29 09:46 AM | 3 Likes Like |Link to Comment
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