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Randall Hsu

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  • TARP Warrants Revisited Part 2: Opportunities Exist For Long-Term Investors [View article]
    Hi Stephen, the chart in this article includes institutions with TARP auction proceeds greater than $50 million.

    So that excludes SunTrust, as well as Boston Priviate Financial, First Financial Bancorp, Signature Bank, Sterling Bancshares, TCF Financial, Texas Capital Bancshares, Valley National Bancorp, Washington Federal, Webster Financial, Wintrust Financial.

    As you can see, the list is quite extensive, so my goal is to cover these smaller, less liquid TARP warrants in a separate article.
    Jun 5 09:33 AM | Likes Like |Link to Comment
  • Wells Fargo's Economic Moat And Valuation Make The Company An Attractive Investment [View article]
    You have rightly pointed out the costs of running a bank in any given year, but please take a look at this Economist article (http://econ.st/Leldhn) because it shows the average annual return on equity for the US Banking industry in the last 130 years or so, an impressive accomplishment.

    In my other article (http://seekingalpha.co...), I mentioned this accomplishment and that the US Banking industry continues to generate impressive returns despite a growing asset base and disruptive innovation.

    To do well in investing is all about finding opportunities that can compound at a satisfactory rate of return for a long period of time. Therefore, in order to achieve that goal in stock investing, we need to understand the certainty of a business's long-term characteristics, the certainty of the management team to deploy capital intelligently, and our purchase price in stock ownership.

    I hope you would agree that Wells Fargo has clearly demonstrated its attractiveness with all the above points. Thanks!
    May 9 01:41 PM | Likes Like |Link to Comment
  • U.S. Commercial Banking Industry's Brighter Future [View article]
    You have rightly pointed out the costs of running a bank in any given year, but please take a look at this Economist article (http://econ.st/Leldhn) because it shows the average annual return on equity for the US Banking industry in the last 130 years or so, an impressive accomplishment.

    In my other article (http://seekingalpha.co...), I mentioned this accomplishment and that the US Banking industry continues to generate impressive returns despite a growing asset base and disruptive innovation.

    To do well in investing is all about finding opportunities that can compound at a satisfactory rate of return for a long period of time. Therefore, in order to achieve that goal in stock investing, we need to understand the certainty of a business's long-term characteristics, the certainty of the management team to deploy capital intelligently, and our purchase price in stock ownership.

    I hope you would agree that Wells Fargo has clearly demonstrated its attractiveness with all the above points. Thanks!
    May 9 01:39 PM | Likes Like |Link to Comment
  • TARP Warrants Revisited: Opportunities Exist For Long-Term Investors [View article]
    I listed out the auction dates for each of the warrants listed here.

    You would go to the corporation's respective sec filings on or after that date and look for form 8 (Registration of securities) to get the warrant agreement.

    As an example, here is Bank of America's TIP warrant agreement:

    http://1.usa.gov/HDVehp

    and here is the 8K that described about the event:

    http://1.usa.gov/HDVbCp
    Apr 12 02:25 AM | Likes Like |Link to Comment
  • TELUS: Excellent Value for a Canadian Telecom Company [View article]
    Update: As of Jan 2012, TELUS is no longer a buy at this price compare to the value an owner would be getting.
    Jan 15 01:30 PM | Likes Like |Link to Comment
  • TARP Warrants Revisited: Opportunities Exist For Long-Term Investors [View article]
    TIP and CPP are acronyms for Treasury's TARP initiatives. TIP is Treasury's Targeted Investment Program and CPP is Capital Purchase Program. These warrants are similar to regular warrants, except the long dated nature and downward adjustment to the exercise price when a common share dividend is issued.
    Dec 25 11:18 AM | Likes Like |Link to Comment
  • Vicon Presents a Challenge to Value Investors [View article]
    I was looking at this company too, spotted in value line.

    The issue is that the company made no progress in the last 10 years.

    Back in 2000, it was just as cheap as now, liquidation value wise. Almost identical sales, retained earning, asset-value, and the business is likely way more competitive now.

    VII had a great run in 2007, but investors might be stuck in a value trap for awhile. Just my 2 cents.
    Jun 10 12:12 AM | Likes Like |Link to Comment
  • Harbin Electric: Positive Prospects [View article]
    Do you mean Wuxi ZhongQiang ? It doesn't seem like they are producing competitive products ie. auto micro motors against Harbin Electric...
    Jun 14 02:32 AM | Likes Like |Link to Comment
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