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John M. Mason  

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  • A First Interview: Microsoft's Satya Nadella [View article]
    I agree, management is not in charge of the stock price.
    Management is only in charge of its actions.
    Investors place value on what the management does.
    From the summer of 2000 until the current time...Microsoft stock price has basically remained constant.
    For thirteen years, investors have concluded that Microsoft management has not been adding any more value to the company than what existed in the summer of 2000.
    This is the grade that the investment community has given Microsoft...
    The management of Microsoft over this time period took the test...the market did not think that it did very well.
    Feb 22, 2014. 01:43 PM | 3 Likes Like |Link to Comment
  • Is United States Monetary Policy 'Too Selfish' And 'Too Tight'? [View article]

    Feb 21, 2014. 11:13 AM | Likes Like |Link to Comment
  • The United States Dollar In Early 2014: Short-Term And Longer-Term Outlook [View article]
    Gettin' Long...
    I'll get back to you on your question.
    Feb 14, 2014. 08:31 AM | Likes Like |Link to Comment
  • Good Luck Satya! Good Luck Microsoft! [View article]
    I apologize for the misspelling...It in Mr. Nadella.

    Mr. Nadella,
    Mr. Nadella,
    Mr. Nadella,
    Mr. Nadella,
    Mr. Nadell...

    I don't think I am pessimistic...I just want Microsoft's stock to perform well.
    Feb 4, 2014. 11:29 AM | 1 Like Like |Link to Comment
  • Banking Industry Review: 2013 Reports Of The Five Largest Banks [View article]
    Sorry, meant Bank One
    Jan 17, 2014. 07:58 AM | Likes Like |Link to Comment
  • Bond Market Bubble? [View article]

    I was referring to "commercial banks, and not the largest commercial banks"...that is the "small domestically chartered banks" where the real problem has been. These banks hold 3/5 of total commercial real estate loans...much more than the largest 25 domestically chartered banks. These loans have increased substantially...check out my post (the link is given in the above post).

    Charge offs have not increased in this category because, as I have written, the loans tend to be paid only at maturity. Hence, during the darkest days, these "small domestically chartered banks", did not have to charge them off because they were not delinquent. As they economy has improved and as the Fed injected cash into these banks these "small domestically chartered banks" rolled over the loans, added to the principal amount in order to help the borrowers make the loan work, and hoped that these loans would pay off in the future.

    Like the discussion of bonds in my post above, this situation looks like one in which the problem has been kicked down the road. Hopefully the situation will work itself out and defaults will not rise. However, the problem is real and needs to be watched.

    Nov 15, 2013. 06:43 PM | Likes Like |Link to Comment
  • Bond Market Bubble? [View article]
    User 447425:

    I have only argued that the Fed may have a concern over the health of the banking system and this is just one more reason for the QE although they have not explicitly stated it. The banking system is still losing around 200 commercial banks a year. My reasoning is that QE allows the FDIC to arrange for solutions other than that of closing a bank. We are still getting bank closings but more and more banks are now leaving the banking system thorough being acquired. The Fed does not want "these banks to fail all of a sudden" hence it provides sufficient liquidity to allow the FDIC to "smoothly" shrink the banking system.
    If interest rates go up too rapidly, this game plan will be in jeopardy.
    So, there are several reasons, spoken and unspoken, for keeping QE going.
    I believe that this is very intentional on the part of the Fed.
    Nov 15, 2013. 12:10 PM | 2 Likes Like |Link to Comment
  • Germany Must Be Doing Something Right [View article]
    To me, Mr. Krugman is a fundamentalist preacher. Debates with him contribute little or nothing to the discussion because one always knows exactly what he is going to say. Unfortunately, that is what a lot of religion produces.
    Nov 15, 2013. 12:00 PM | Likes Like |Link to Comment
  • Shadow Banking In The Headlines! The Future Is Here! [View article]
    These data were compiled by SNL Financial for the Financial Times.
    Nov 12, 2013. 11:53 AM | Likes Like |Link to Comment
  • Restructuring The Housing Industry: Deals Galore [View article]
    Yes, but it doesn't happen to any degree when households are not buying and demand is so low.
    Nov 5, 2013. 11:11 AM | Likes Like |Link to Comment
  • The Stock Market And The Economy: Warren Buffett [View article]
    No...Mr. Buffett just argues that the market may be overvalued...or, undervalued...and one should not use the stage of the stock market as a major criteria for choosing an investment. Investments need to be made on their own merits whether or not stock prices, in general, are high or low.
    Oct 14, 2013. 04:31 PM | 1 Like Like |Link to Comment
  • In The Case Of Microsoft: 2 Issues [View article]
    You give a more specific explanation of the valuation over the changes than I have taken the time to. As Microsoft built its position and its market continued to expand it was a growth stock. Once it had achieved its massive market share and the growth rate of the market slowed substantially it ceased to be a growth stock. The latter part deals with having achieved a sustainable competitive advantage protected by barriers to entry. But...the growth is not there and as Bruce Greenwald writes, without the growth there is nothing that is compelling about the valuation.
    Thanks for your comments.
    Oct 9, 2013. 10:00 AM | Likes Like |Link to Comment
  • Citigroup Speculation: A Picture Of What's To Come? [View article]
    I agree!
    Sep 23, 2013. 05:21 PM | Likes Like |Link to Comment
  • Europe A Major Factor In Higher Treasury Bond Yields [View article]

    Yes, it is time to taper...

    Aug 9, 2013. 04:43 AM | 2 Likes Like |Link to Comment
  • Banks And Bonds [View article]

    Or they could start dumping bonds which would make longer term interest rates rise even faster.

    Aug 1, 2013. 12:01 PM | Likes Like |Link to Comment