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Matthew Pixa

 
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  • Fairholme's Major Transactions For Q3 2011 [View article]
    Of the few mutual funds I hold....this was easily the worst and I'm so glad to be done with it. Every dog has its day but this fund has just been decimated with Berkowitz's overweight and stubborn holding of weak companies with little near-term upside.
    Nov 16 01:01 PM | 1 Like Like |Link to Comment
  • Assessing Market Risk [View article]
    Thanks for the article.
    I'm not convinced that "all three risks are overblown". The story in Europe is far from over; it's probably more akin to the second or third inning of a 9 inning baseball game.
    You use the word "risk" in this piece and I personally see more risk in hoping for year-end upside as opposed to getting defensive and waiting for the broad market to peel off 10% or more in the next 2-3 months.

    We moved to our heaviest cash position of the year this past Friday and couldn't be happier with that decision. In our opinion, October's rally was not the "opening act" but rather an excellent exit point to get our shopping list ready...
    Nov 15 12:19 PM | 1 Like Like |Link to Comment
  • Jim Cramer Has Reversed On Apple Because He Doesn't Understand It [View article]
    AAPL is not done yet.

    As far as Jim Cramer...he's not "dumb" and nor is he manipulating the stock downward to buy more. Is he a hedge fund manager?
    No ....he WAS one.

    Folks...he's an ENTERTAINER in the media. Jim Cramer manages your emotions, your laughs & grumbles, little sound instruments on his studio panel, and ultimately television ratings....not a portfolio.
    Sure he manages a "charitable trust" of some sort but I doubt that's his motivation to talk Apple stock up or talk it down.
    Nov 13 10:24 AM | 2 Likes Like |Link to Comment
  • Under Armour: Why It's Time To Short [View article]
    Thanks for the article. Ironically enough....after the recent rally I've been looking to take some profits and Under Armour is one of the first positions I'm selling. It's done great for us but simply looks frothy at these levels.
    Oct 28 09:50 AM | Likes Like |Link to Comment
  • Brace For The Alcoa Bears [View article]
    For anyone who thought Alcoa was a dog...are you reconsidering? We've added to this position at several points and aside from being up over 9% today...it still has plenty of upside....

    Don't let market corrections deter you from seeing value-
    Oct 27 02:32 PM | Likes Like |Link to Comment
  • PIMCO And Bill Gross Apologize For Poor Performance [View article]
    Extremely valid point! Most advisors or managers never even touch the topic of being flat out wrong.

    The typical manager in Gross' shoes would have simply pointed out that over 5 years he still ranks in the top 5% of all bond funds.

    Kudos to Bill Gross but I'll continue using BND for fractions of the cost.
    Oct 16 08:06 PM | 1 Like Like |Link to Comment
  • October Rally Keeps S&P 500 On '07 Recession Pace [View article]
    Maybe.
    Oct 15 07:48 PM | 1 Like Like |Link to Comment
  • The Market Will Resume Its Bull Run Soon [View article]
    Well...if you read the sentence carefully the author says, "we have no reason to believe that S&P will reach 2,000 within two years".

    Yes...I'm being sarcastic but in all seriousness this article does very little to convince me of a bull or bear case for these markets.
    Sep 27 01:14 PM | Likes Like |Link to Comment
  • Evaluating ETF Detractors' Claims [View article]
    Thanks for taking the time to dig into this a bit. Terry Smith, in my opinion, is really reaching by trying to connect a "rogue trader" on the UBS desk with a $2 billion loss.

    I'll continue to 'take my chances' using well regarded and solid ETF's over mutual funds that typically underperform benchmarks and are loaded with fees. I use a few select mutual funds in only one asset class but for the most part think very few outweigh the implied "risks" and benefits of ETF's.

    Any advisor charging 1% that uses mutual funds (even no loads) is ripping people off or simply needs more education on how to build a solid portfolio via optimizing performance, being tax efficient, and drastically lowering fees/expenses.
    Sep 24 11:42 AM | Likes Like |Link to Comment
  • Reasons For A Market Correction [View article]
    Right...I get that. I manage money for a living.

    I'm simply pointing out that one should exercise caution when advocating drastic moves in light of market action (either direction). I've seen this movie before and there's a huge difference between writing about what the markets will do or how you think they might do compared to how one should actually manage real assets,

    Articles like this attract people who want to validate their positions. (same type of thing applies to those who are in the "perma-bull" camp like some of the other commenters note)
    Sep 23 09:21 PM | Likes Like |Link to Comment
  • Reasons For A Market Correction [View article]
    Excellent call indeed. Just curious....to you (or anyone reading who also sold)...when will you get back in?
    You have to be "right" twice to make it a "good call".

    I'm not sure how many assets you manage or what percentage of those assets you sold but I'm always interested to hear what triggers the decision to get back in.

    I'm more of a fan of making gradual and tactical adjustments within a disciplined strategy. Once you've been doing this for more than 15 years, one finds that making a great call is rarely followed up with another one. Tactical asset allocation almost always wins out.
    Sep 23 11:46 AM | 1 Like Like |Link to Comment
  • S&P 500 Year-End Price Targets [View article]
    What this really shows is that each and every year 'major' Wall Street "strategists" are always wrong. It's not that I would want/expect someone to nail it within a tight range but none of them can even guess the general direction of the market (unless it goes up).
    Credit Suisse is the closest, and the only one predicting lower levels, although their US Equity strategist, Doug Cliggott, began the year with a 1,250 prediction for the S&P.

    Lastly, while people have short memories, it should be noted that almost all these experts agreed on one thing; stocks would outperform bonds, especially treasuries.
    Cliggott himself said that for one "to put new money into bonds you would have to believe in outright deflation".

    I'll never claim to be an 'expert' but I certainly wouldn't pay an ounce of attention to some of these "strategists".
    While the experts pounded the table in early 2011 on the danger in bonds, holdings like BND and AGG are up 6% YTD and doing just fine...
    Sep 22 12:52 PM | 1 Like Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Think about the exercise and how difficult it is to pick just one company. Who does that? It's also easy to criticize when you don't have a profile or offer a better opinion.I've just checked back here since it's been 3 months when I wrote this article. The markets have been pounded with the S&P 500 being down about 10% over that stretch but COST is still at least positive. I'll continue watching this but since we've bought this stock it's done great for our clients relative to most other companies.
    Sep 2 09:43 AM | Likes Like |Link to Comment
  • Dodging The Bear Bite [View article]
    Yes...I'm aware of the many articles. My point was that most people read these and simply nod their head in agreement with the implied reliability of a death cross. It's anything but proven and I find it to be statistically weak.
    Aug 29 09:35 AM | 1 Like Like |Link to Comment
  • Dodging The Bear Bite [View article]
    Thanks for the article. Maybe you could expand on the "statistical reliability" of the death cross. I find that many authors seem to throw this in there but is it truly statistically significant? If so, I would like to know your source as I simply haven't come across anything to date that shows it's all that reliable. I follow the technicals and trends of markets too but anything that has about 35% reliability shouldn't be described as 'reliable' or 'proven'. (in my opinion)
    Seems like more of an industry buzzword. Thoughts?
    Aug 28 12:22 PM | 1 Like Like |Link to Comment
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116 Comments
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