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Moon Kil Woong  

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Latest  |  Highest rated
  • What Bankers Can Learn from Arc-Welder Manufacturers [View article]
    Hmmm, as far as I can see not laying off bankers is the least of the banking trouble. They prefer to layoff the rest of the world and suck taxpayers dry than cut their salaries. After finishing this bank execs prefer to cut services and raise fees than cut their massive bonuses.

    Since it is virtually impossible to reverse the top heavy structure of TBTF and bad banks, a quick and efficient dissolution is the only equitable means of resolution. Unfortunately the bailouts ruined the market's way of correcting this and has subsequently impeded the proper functioning of the market.
    Mar 6, 2010. 11:17 AM | 4 Likes Like |Link to Comment
  • Will Volatility Spike? [View article]
    Between the price you pay for volatility, the spread, and the transaction fees it is wise for most people to stay away from options unless they are very good. Options are a zero sum game and usually you are betting against market makers.

    It is too bad because options are a good strategy to use if you want to hedge your risk. This is especially true since buying an option has a natural stop loss (you can't lose more than the price paid for an option unless you wrote it). Unfortunately, most people don't use them this way.
    Mar 3, 2010. 01:02 PM | 1 Like Like |Link to Comment
  • When the Bond Market Breaks, Or the True Cause of Hyperinflation [View article]
    You have a very good point. Unsustainable government spending may compound the problem if a recovery is not forthcoming. Absent of more stimulus we will see a drop in government spending cut a swath in GDP starting at the State level. In many ways it has already begun.
    Mar 3, 2010. 12:51 PM | 3 Likes Like |Link to Comment
  • Investing in Copper: What You Need to Know [View article]
    Thanks for the good article. The biggest issue with copper is production, not the stockpile. Chinese demand has caused production to outstrip supply and there seems to be no end to it since no one wants to cut production and write off unnecessary cap-ex. Sooner or later this will come to a head and many speculators will get hurt.

    Copper isn't exactly a great store of value. Scarcity is not a big issue.
    Mar 3, 2010. 12:18 PM | 3 Likes Like |Link to Comment
  • Eurozone Crises: The Bigger Picture [View article]
    It certainly was not the hedge funds that caused this crisis. The blame lays solidly under the politician's freewheeling ways of spending money they didn't have. Governments should thank people for buying their bonds because there isn't much faith or trust that they will ever budget better than they do today. If anything governments get more fiscally reckless over time.

    Don't blame the market or the participants aside from maybe GS who helped the government find a loophole to spend even more money they didn't have without disclosure. But then again, politicians are part and parcel of that too.
    Mar 3, 2010. 12:12 PM | Likes Like |Link to Comment
  • Stimulus Spending: Much Ado About Not Much? [View article]
    Construction spending does not accurately reflect stimulus simply because the money is being spend bulking up the bureaucracy not employing people, fixing infrastructure, etc. This is not your great depression public works stimulus. It's more like your lets bloat government at the cost of everyone type bill.
    Mar 2, 2010. 11:56 AM | 7 Likes Like |Link to Comment
  • The Plutarch Nation [View article]
    The biggest way to tax ultra wealthy is to have more capital gains tax on long term holdings and a system to tax people on theoretical capital gains on stock holdings even if you don't sell them. I for one am not in favor of this.

    Very little comes from income or salary. Any reform on this makes little to no difference. The only other thing you can do is crack down on stock options which disincentives workers. Wealthy people will always figure out the best way to invest. That way has always been buy and hold for the most part if you are wealthy enough to do it.
    Mar 2, 2010. 11:09 AM | 2 Likes Like |Link to Comment
  • On Debt, Ponzi Schemes and Goldman Sachs [View article]
    GS always claims the peons who sold such derivatives didn't know better, but the ones making these derivatives and the ones betting against them were incredibly smart and should be rewarded. This is usually called a Chinese wall, all though others tend to call it a wall of something else.

    Indeed the customers buying these don't have access it GS proprietary trading, but it is curious how GS' proprietary trading gets access to every bad deal their clients are making so they can bet against them.
    Mar 2, 2010. 10:56 AM | 4 Likes Like |Link to Comment
  • The Nonsensical Political Rhetoric on Greece [View article]
    Politicians need someone to blame for their own ineptitude. What Greece is doing is like the US Congress holding hearings as to why oil prices rise when their currency collapses due to it's massive deficits.It's all a smoke and mirrors game.

    If anything insuring Greece through the CDS market gave Greece a 6 month to 1 year reprieve before people found out they were broke. During that timer rather than fix it they chose to do nothing.
    Mar 1, 2010. 07:51 PM | 1 Like Like |Link to Comment
  • British Pound Falls Off a Cliff [View article]
    Johnny Rebel, 5% is big inflationary pressure. Of course the US didn't seem to care when its bourse dropped over 10% last year so I guess you have a point. Of course oil prices reflect that inflationary pressure even though the Federal Reserve chooses to ignore it.
    Mar 1, 2010. 07:47 PM | 6 Likes Like |Link to Comment
  • The Administration's Troubling Housing Decrees [View article]
    The odds of this going through is 0%. Also HAMP will need billions more in funding to deal with the paperwork. Or were they planning on gathering it and dumping it in an warehouse unread. HAMP is a miserable failure. No proposal he provides will change that fact.
    Feb 28, 2010. 09:42 PM | 5 Likes Like |Link to Comment
  • Deconstructing Buffett [View article]
    Good call on Clayton. I don't think anyone is too fond with them owning this.

    As for, "Buffett does a pretty weak job of responding to Jeff Matthews’ criticism of his decision to pay for BNSF in large part using BRK’s own stock." the reason seems quite straightforward, Buffet believes that his stock is still at a premium. If it wasn't then why use stock in the acquisition. It's not like he can't finance it at a reasonable rate or even pay a lot of it in cash.

    Berkshire is not as sterling as it once was. As with all very large businesses, its very hard to find good enough big deals that can augment the whole company's profile. For a long time Buffet has done such a good job he didn't have to offset bad business with good. Now, however, he is in a different situation and doesn't have easy taxpayer money to lick up as with his GS deal.

    Anyway, it is always interesting to watch Berkshire.
    Feb 28, 2010. 09:38 PM | 1 Like Like |Link to Comment
  • Titan International: Good Time to Bet the Farm [View article]
    You're probably better off owning CAT or DE. The kicker for CAT is as long as crop commodities stay high they will get international business from China, etc. TWI seems to be getting squished between higher oil related products (rubber) and slower demand. That is not a good mix.

    Undoubtedly, as it cuts its losses it will probably pop and as the economy improves it will get upside, but that is the case for every stock in the US market that isn't profitable.
    Feb 28, 2010. 09:20 PM | 1 Like Like |Link to Comment
  • Oil: World's New Reserve Currency of Choice [View article]
    It is interesting you mentioned natural gas. China has made strong strides in moving people to LNG (liquified natural gas) in replacement for gasoline. It is a winning strategy for a country with a billion people. It is impossible for China to ever get enough gas to power cars for everyone. It is too bad the US is still dickering around with turning its food supplies into an inefficient fuel (ethanol).

    There are hopes algae or more efficient fuel cells can be developed such as Bloom Technology's solution. I certainly hope one of these is a success because the US can not afford $150 gas in current dollar without another economic downturn.
    Feb 28, 2010. 12:51 PM | Likes Like |Link to Comment
  • Growth vs. Return on Capital: The Chinese Dilemma [View article]
    You tend to call what China is doing a type of economic bootstrapping and closely mirrors India, Japan, Singapore and others. Indeed it is led through a command economy and lots of infrastructure and low wage mass production. This can be very successful for a time,however, the critical test is always if it can transform itself into developing and growing higher value added enduring economic activity.

    Japan has its strong high tech base, Singapore fostered a strong banking base, and Hong Kong has become a nexus for international business. China's strong foray into process patents is a first step into locking in a true manufacturing base not tied to cheap labor and low environmental controls.

    The economic rise of China has not been completely written. We will see in the next 10 years if it can keep rising as textile and other business starts to move to new low wage countries such as Vietnam and Thailand. Only then will we know if China's rise will be a lasting one or if it will implode under the weight of excessive capital spending and infrastructure.
    Feb 28, 2010. 12:23 PM | 12 Likes Like |Link to Comment
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