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Philip Mause  

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  • Investment Ideas Around the Important Deficit That Politicians Ignore: Trade [View article]
    When we were in China, all of the taxis were on CNG. China is also making extensive use of methanol blending with gasoline to reduce oil imports. As I understand it, some methanol plants that use to exist in the United States were literally "packed up" and sent to China.
    Apr 28, 2011. 11:36 AM | Likes Like |Link to Comment
  • Sovereign Recovery Swaps: What Are They? [View article]
    I would assume that one issue with these swaps would be counterparty risk. On Greek debt, that is probably not a big problem. But with respect to United States sovereign debt, just who would you buy a swap from? Maybe one of the "too big to fail" banks which can always count on a bailout from the US Treasury?
    Apr 28, 2011. 10:47 AM | Likes Like |Link to Comment
  • A Dearth of Bulls [View article]
    Wall of worry?? Sometimes this wall gets to be a little too steep even for incurable optimists but it seems to be the dominant trend.
    Apr 28, 2011. 10:44 AM | Likes Like |Link to Comment
  • Capital Southwest Corporation: Deep Value BDC That's Currently a 'Fat Pitch' [View article]
    This is helpful. I guess CSWC works better in a taxable account than in an IRA. I am a little disappointed to see them shoveling 35% out the door to the IRS.
    Apr 28, 2011. 10:11 AM | 1 Like Like |Link to Comment
  • Will the Fed Kill the Greenback at Tomorrow's FOMC Meeting? [View article]
    This guy thought that inflation was the big problem back in December 08; at some point he will probably be right just like a broken clock but not quite yet.
    Apr 26, 2011. 09:23 PM | 1 Like Like |Link to Comment
  • Investment Ideas Around the Important Deficit That Politicians Ignore: Trade [View article]
    Trade could also be brought into balance through increased exports, increased foreign tourism in the United States, or decreased US tourism abroad. The replacement of oil imports with domestic natural gas is technologically feasible and would create increased domestic employment. I generally agree that trade deficits are not necessarily bad(it is mathematically impossible for all countries to run surpluses). I am not in favor of trade barriers, but, in the choice of how we raise government revenue, there should be a shift to taxing consumption rather than production. If it does not happen, trade deficits are likely to persist and create downward pressure on the dollar. This devaluation of the dollar will also negatively impact lower income brackets.
    Apr 26, 2011. 01:03 PM | 1 Like Like |Link to Comment
  • Has the U.S. Become a Banana Republic? [View article]
    Without going into details, I think that the problem was more the mixture and quality of the food, combined with the dehydration that the "travel experience" entails, rather than a virus or bacteria. As a test, I am going to eat part of a bar of soap tonight and see how I do over the next 72 hours.
    Apr 25, 2011. 09:35 PM | Likes Like |Link to Comment
  • Has the U.S. Become a Banana Republic? [View article]
    I have a jittery stomach(it has nothing to do with the market). I just spent a week in Mexico and did fine - no problems. I flew back on a major US carrier and had a couple of their "snack packs" and I almost had to be hospitalized on arrival. Just where are we going here? When traveling abroad, don't use up your Immodium before you take the return flight!!!
    Apr 25, 2011. 02:24 PM | Likes Like |Link to Comment
  • Why Current Leverage and Feedback Mechanism in U.S. Monetary Policy Is Very Dangerous [View article]
    The Fed's "liabilities" are very different from the liabilities of Bear Stearns of Citibank. They are not really debt obligations under which the Fed must actually pay another party a fixed amount on a given date. As I understand it, the liability side of the ledger is just an accounting entry generated when the Fed creates more money. So there really isn't a danger that, if the assets on the Fed's books decline in value, the creditors holding the "liabilities" will demand payment
    Apr 23, 2011. 09:42 PM | 1 Like Like |Link to Comment
  • Dividend Investor Boot Camp: ABCs of Agency Mortgage REITs [View article]
    Well said.
    Apr 23, 2011. 09:32 PM | Likes Like |Link to Comment
  • Dividend Investor Boot Camp, Part 2: Non-Agency Mortgage REITs [View article]
    I like PMT also. I did not realize that the Countrywide guys were involved. They are certainly knowledgeable about the "less than prime" mortgage market and I definitely believe that there is a lot of money to be made by adroit players in the distressed mortgage market.
    Apr 23, 2011. 09:30 PM | Likes Like |Link to Comment
  • Dividend Investor Boot Camp, Part 2: Non-Agency Mortgage REITs [View article]
    This is generally true. It is also true that BDCs with pre-2008 loans being carried at big discounts to face value may do very well.
    Apr 23, 2011. 09:28 PM | 1 Like Like |Link to Comment
  • Dividend Investor Boot Camp, Part 2: Non-Agency Mortgage REITs [View article]
    I have picked up some IVR and I am still digging an may include a more complete analysis in a future article.
    Apr 23, 2011. 09:25 PM | Likes Like |Link to Comment
  • Dividend Investor Boot Camp, Part 2: Non-Agency Mortgage REITs [View article]
    This may be an interesting situation to watch because some of these transitions create situations in which the stock can become very undervalued. Look at a chart of FUN - it cut its dividend and got massacred but then rebounded very strongly.
    Apr 23, 2011. 09:23 PM | Likes Like |Link to Comment
  • Dividend Investing and Higher Interest Rates: BDCs vs. Mortgage REITs [View article]
    I tend to agree. I don't think Uncle Ben is going to take us on a 4.25% ride in 24 months given what we have been through although inflation could force his hand at some point.
    Apr 23, 2011. 09:20 PM | Likes Like |Link to Comment
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