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Joseph L. Shaefer » Comments » AAPL

  • Wall Street Breakfast: Must-Know News [View article]
    "CNOOC eyes large Nigeria stake. Sources say Chinese state-owned oil company CNOOC (CEO) is in talks with Nigeria to buy a large stake in some of Africa's richest oil blocks, at a possible value of $30B."

    Great! They are welcome to it. For too long China has gotten a free ride internationally, with foreign ire directed at US companies and citizens. Speaking as a former military attache, let the Chinese, with few resources of their own, deal with the kleptocrats in Burma, Nigeria, Sudan et al.

    Add to massive Canadian oil and US natural gas the recent finds offshore Brazil, the probability that impending bankruptcy will make Mexico's PemEx more willing to share oil in exchange for technology and skill, and the probability that Venezuela's Chavez, having proven himself to be just another bag of empty hot air and will soon be gone, and this hemisphere will have enough oil, gas and coal to watch from the sidelines as China learns what its like to depend upon distant nations for its essential energy. Dare to dream...
    Sep 29 11:09 am |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Re: Citi sells retail banking offices.

    "In January, when CEO Vikram Pandit said Citi would sell or shut some non-core businesses, retail banking was among the ones he wanted to keep."

    Clearly, Citi couldn't sell the subsidiaries it WANTED to sell so it is selling the ones it CAN sell. And the Feds and Wall Street want us to believe all is rosy in the Land of Oz? There are other shoes yet to drop in the banking world. I don't plan on being under them...
    Sep 24 13:05 pm |Rating: +5 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Bank of America (BAC) said it's 'surprised and disappointed' by accusations that's it's hiding behind attorney-client privilege."

    Yes, and in 'Casablanca', Louie was "shocked...SHOCKED!" to discover there was gambling in Rick's bar ( and casino) as the croupier handed him his winnings...
    Sep 10 10:28 am |Rating: +2 0 |Link to Comment
  • Six Things to Learn from the Financial Crisis  [View article]
    A fine reminder, DGI.

    Value investing, portfolio rebalancing, and a willingness to stand back from "The Madding Crowd" is such an ingrained habit with many SA contributors that we forget that not everyone thinks this way.

    It's important to every now and again state, or re-state in different terms, what has worked for us for years. Maybe those burned by ignoring these basic rules will learn from it when they see a viable alternative...
    Sep 02 09:54 am |Rating: +3 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    “The FDIC's watchlist of potentially problematic banks grew by more than a third to 416 in Q2, the highest level in fifteen years…”

    If the FDIC shutters all 416 it is still treating only SYMPTOMS, not underlying CONDITIONS. if instead we saved those 416 smaller banks (for FAR less money) and let Citicorp or B of A or Megabank Inc. die the natural death they should, given their mis-steps, mis-takes, and mis-appropriation of taxpayer largesse, we could probably safely move all Citi (for instance) depositors to smaller banks that would then be able to continue as growing concerns. And we’d have removed one more “too-big-to-fail” bloated cancer from our nation.
    Aug 28 14:18 pm |Rating: +2 0 |Link to Comment
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