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Paul Price

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  • Why Alcoa Is Heading To $15 [View article]
    Alcoa's 2013 annual report lists Dec. 31, 2013 book value as $9.84 per share.

    Value Line indicates that $3.20 per share of that is for intangibles. That leaves tangible book value at $6.64 /share.

    Your whole theory... "Alcoa's stock is worth slightly more than the tangible book value on its balance sheet" is based on a wrong number (for the tangible book value). It appears you were using the 2012 YE number which was reduced significantly by AA's big loss last year.

    Page 2 of the report shows YE 2013 book value data. See link below.
    Apr 11 08:12 AM | 1 Like Like |Link to Comment
  • Howard Marks: Dare To Be Great II [View news story]
    When you can make a lot by taking big risk with other people's money ... you will do that.

    That does double when there is no penalty for losing.

    That is the hedge fund model. Play concentrated and with huge leverage. If it works you're a hero and get rich. If it doesn't close it down and start fresh.
    Apr 9 07:09 PM | Likes Like |Link to Comment
  • Ross Stores: Retail Investing With Limited Risk [View article]

    Ross Stores CEO's $10.9 Million Sale
    Michael Balmuth sold 150,673 shares of the discount retailer.

    Other insiders were also big sellers this month.
    Mar 10 10:35 PM | Likes Like |Link to Comment
  • Why The 'Mean Reversion' Focus Can Be A Costly Blunder [View article]
    The Little Book of Sideways Markets could not have been more wrong. The book's author still has never admitted that his theory was total bunk.
    Feb 20 07:55 AM | Likes Like |Link to Comment
  • Is The U.S. Bankrupt? [View article]
    There are no actual assets in the SS trust fund.

    Al Gore's 'lock box' has been, and remains, empty.
    Jan 11 03:07 PM | 1 Like Like |Link to Comment
  • Over 1M affected as extended unemployment benefits expire [View news story]
    The real question is ...

    Are you willing to keep paying able-bodied people NOT to work on an unlimited time horizon?

    Should a healthy person be allowed to collect unemployment checks for years? Why would they ever take low-moderate pay jobs if they can keep getting paid to do nothing?

    Many of these people get free cell phones, free health care and SNAP (free food) too. If you continue doling out these freebies very few jobs will ever be worth taking.
    Dec 29 10:19 AM | 16 Likes Like |Link to Comment
  • Harvest Natural Resources sells 1.7M shares at $3.15, insiders buy 246K shares [View news story]
    The company had previously said it might not be able to continue as a going concern.

    The money from the offering will keep it alive for a bit longer.

    It is not a good sign.
    Nov 28 09:39 AM | Likes Like |Link to Comment
  • Sterne Agee sees upside for Cardinal Health [View news story]
    Always great to upgrade at an all-time high.
    Nov 6 07:34 AM | Likes Like |Link to Comment
  • Bogle On Favoring Dividends And Capitalizing Social Security [View article]
    Means testing (sure to come when money crumbles due to too much debt) will mean the loss of SS income as we think of it today.

    Those with no savings will be spared but the very people talked about here, who did the right thing -saved and invested over their lifetimes, will be totally screwed by Washington.
    Oct 27 12:05 AM | 1 Like Like |Link to Comment
  • Read Seeking Alpha, Consider Investing In TheStreet [View article]
    The articles on Real Money, Real Money Pro, Options Profits, Stocks Under $10 and other premium sections of TheStreet are all written by outstanding, experienced financial professionals.

    They are not computer generated blurbs.

    Anyone who hasn't sampled the articles in recent times should sign up for a free trial of the site before downplaying the value of the large quantity of unique and original content.

    The new CEO is doing an outstanding job of continuing TST's position as a valuable tool for both individual investors and professional money managers who visit the site, on average, multiple times each business day.

    I love reading the daily columns from dozens of unique points of view covering both fundamental and technical analysis. I often come away with actionable ideas that I had not been exposed to anywhere else.

    Disclosure: I have been a featured author on Options Profits and Real Money Pro since 2010.
    Sep 22 08:37 AM | 2 Likes Like |Link to Comment
  • The Last Thing You Should Do Is Buy The 3 New Dow Stocks [View article]
    A nice piece of usable information.
    Thank you for sharing it.
    Sep 16 12:02 PM | Likes Like |Link to Comment
  • Warren Buffett On Ben Graham's Biggest Mistake [View article]

    You said, "Let's say you're thinking of purchasing one of two companies. Company A (a no name brake-pads company) is valued at $160 million and also has $20 million in annual earnings, but requires $160 million in net tangible assets to generate those earnings."

    When you buy Company A they already have the $160 MM in assets working for them.

    You would only need to fund depreciation and new cap-ex. Those expenses are part of the reported data every year. EPS are net of them.

    The $20 MM in annual after-tax EPS are yours to keep as the business owner.

    I'm not sure where you get your assumption of needing another $160 MM after 10-years.
    Sep 14 09:59 AM | 2 Likes Like |Link to Comment
  • Secular Bull And Bear Markets [View article]
    You stated...

    "Historically, regression to trend often means overshooting to the other side."

    Your own inflation adjusted chart (with trend lines) shows that wasn't the case during some very long periods (from about 1880 - 1914, 1958 - 1973 and 1995 through the present).

    The facts do not bear out your assertion.
    Sep 2 08:05 AM | Likes Like |Link to Comment
  • PG&E says penalties for its 2010 pipeline explosion could push it to the brink of bankruptcy [View news story]
    Wiping out shareholders' and bond holders' net worths to pay a fine to the state of California is an insane remedy.

    Removal or imprisonment of the company officers would be much more appropriate and would serve as a better deterrent to future misdeeds.
    Aug 20 08:37 PM | 2 Likes Like |Link to Comment
  • Is The Worst Over For Annaly? [View article]
    That was in a falling interest rate environment.

    Today's environment is exactly the opposite. Leverage helped then but could inflict serious pain going forward.
    Aug 11 08:27 PM | Likes Like |Link to Comment