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Kofi Bofah

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  • Fear Goes Hand in Hand with Drama [View article]
    Dollar cost average into weakness.

    Cash reserves may be ravaged by inflation. Central banks are printing currency, worldwide.

    Financials are consolidating, and the survivors will be highly profitable following this turbulence.
    Sep 29 01:34 PM | Likes Like |Link to Comment
  • Wachovia + Morgan Stanley = Dumbest Merger in History [View article]
    What in the world is Wachovia Bank going to do with Morgan Stanley?

    Wachovia is the Charlotte, NC bank that I have dubbed 'Whack' ovia due to its dubious decision making. Wachovia's balance sheet is loaded with toxic debt, due to heavy mortgage exposure and poorly timed acquisitions. The bank actually bought out AG Edwards brokerage and Golden West, a subprime mortgage lender at the height of the euphoria. Of course, the transactions have been severely mangled throughout the course of this debacle. I would argue that Wachovia is the most mismanaged of the large, money center commercial banks.

    This is the blind leading the blind. The situation is comical.
    Sep 18 01:46 PM | Likes Like |Link to Comment
  • Valero Margins Stabilizing; Next Hurdle - Hurricane Ike [View article]
    Sunoco is up big today. The top performer in the S&P 500 this morning. I think Valero is up $1-$2 or so...
    Sep 11 02:35 PM | Likes Like |Link to Comment
  • Valero Margins Stabilizing; Next Hurdle - Hurricane Ike [View article]
    It is very difficult to make long term money with a refiner. Margins being under pressure is the rule, rather than the exception.
    Sep 10 08:25 PM | Likes Like |Link to Comment
  • Calling a Bottom: It's Time To Party [View article]
    There is no bottom. Analysts estimates are still too high. Eat off of dividends and interest right now...
    Sep 10 08:18 PM | Likes Like |Link to Comment
  • Is Wachovia the Worst Run Bank in America? [View article]
    That Golden West deal was a total disaster. It was yet another symbol of the real estate boom, bust, and mania.

    Golden West was run by an elderly couple that originally founded the company. Picture these slick talking Wachovia bankers being taken to the cleaners by two old fogies straight from a Bartles and James commercial.
    Sep 10 08:16 PM | Likes Like |Link to Comment
  • Is Wachovia the Worst Run Bank in America? [View article]
    I jokingly refer to Wachovia as 'Whack' ovia.

    To the uninitiated: 'Whack' as in stupid, silly, corny.
    Sep 10 08:12 PM | Likes Like |Link to Comment
  • Fannie Mae: 'Business As Usual' [View article]
    Bill Miller [Legg Mason Value Trust] really took a bath on this stock. I think he was buying all the way to the bottom.
    Sep 10 08:10 PM | Likes Like |Link to Comment
  • Oil Inventories [View article]
    Crude will reach equilibrium at $50-$75 / barrel. Nothing short of Iran declaring outright war on [insert Western nation] and holding the Straight of Hormuz hostage will support prices at these levels.
    Sep 10 08:08 PM | Likes Like |Link to Comment
  • Pullback in Railroads Offers Short-Term Opportunity [View article]
    I dumped BNI within the past year thinking the easy money had already been made. I still believe that the party is over. The dollar is strengthening, commodity prices are falling, and the global economy is weak. This does not bode well for exports, nor the pricing power of transporting coal, ag products, bauxite, etc.
    Sep 10 08:04 PM | Likes Like |Link to Comment
  • Dow Chemical's Next Move [View article]
    I think Buffett moved into chemicals believing that the price of oil was set to fall. Petroleum inputs are a large part of the cost equation for chemical companies. The fall of crude oil from $147 towards $100 will boost earnings in this sector.
    Sep 10 08:00 PM | Likes Like |Link to Comment
  • General Motors: The Next Delisting from the Dow? [View article]
    Interesting article in the Wall Street Journal yesterday. It seems as if the Big Three are also lobbying Washington for a bailout, to the tune of a $50 Billion loan. De-list GM from the DJIA. The company is a shell of its former self. A Dow component should actually represent a blue chip stock, not junk.
    Sep 9 04:16 PM | Likes Like |Link to Comment
  • General Motors: The Next Delisting from the Dow? [View article]
    The writing was on the wall when even Kerkorian bailed and dumped the stock...
    Sep 5 03:24 PM | Likes Like |Link to Comment
  • General Motors: The Next Delisting from the Dow? [View article]
    Oops, I am a little new to this. I commented earlier:

    General Motors stock is effectively worth $0. The fact that the stock trades with any value at all is due to a belief that the company will skirt bankruptcy.

    I would argue that Alcoa generates more income from the automotive sector than General Motors.

    How about a transport?

    UPS, FedEx, or Burlington Northern Santa Fe would all be viable replacements.

    ConocoPhillips is strong in terms of market cap and performance; but that would overweight energy with Chevron and Exxon. Likewise with Cisco and Apple [HP / IBM / MSFT / INTC] for technology. Also, Berkshire Hathaway has a relatively small float and will always be nixed.

    I think that the call should go down to Fed Ex or UPS. There is little overlap here. The overlap is slight with Boeing [UPS is essentially an airline].
    Sep 5 03:13 PM | Likes Like |Link to Comment
  • General Motors: The Next Delisting from the Dow? [View article]
    General Motors stock is effectively worth $0. The fact that the stock trades with any value at all is due to a belief that the company will skirt bankruptcy.

    I would argue that Alcoa generates more income from the automotive sector than General Motors.

    How about a transport?

    UPS, FedEx, or Burlington Northern Santa Fe would all be viable replacements.

    ConocoPhillips is strong in terms of market cap and performance; but that would overweight energy with Chevron and Exxon. Likewise with Cisco and Apple [HP / IBM / MSFT / INTC] for technology. Also, Berkshire Hathaway has a relatively small float and will always be nixed.

    I think that the call should go down to Fed Ex or UPS. There is little overlap here. The overlap is slight with Boeing [UPS is essentially an airline].
    Sep 5 03:12 PM | Likes Like |Link to Comment
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