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Ron Myers

 
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  • Pres. Obama will lay out his administration's strategy on tackling climate change in a speech tomorrow, which may include measures to limit greenhouse gas emissions from existing power plants. It is unclear if Obama will make any reference to the proposed Keystone XL pipeline (TRP -2.6%). Coal names plunge (KOL -4.5%): WLT -13.2%, JRCC -12.4%, ACI -8.4%, ANR -8.2%, BTU -8%, CLF -8%, CNX -8%, OXF -7%[View news story]
    I wonder if Obuster will also roll out his jobs strategy tomorrow - to remove every competitive advantage the US has or will ever have and eliminate all private sector jobs, such that the country has 75% UE with the other 25% working for the government.
    Jun 24, 2013. 12:06 PM | 4 Likes Like |Link to Comment
  • Biozoom: Current Shareholders Likely Victims Of An Illegal Stock Promotion Scam [View article]
    Great article and always unfortunate to see the retail investor get hit with campaigns like this one.
    Jun 24, 2013. 09:28 AM | Likes Like |Link to Comment
  • A $234 Million Company Worth $0: Short Biozoom [View article]
    I just looked at the chart and name of the company and realized this was a P&D but glad to see my views confirmed here.
    Jun 21, 2013. 09:06 AM | 1 Like Like |Link to Comment
  • Art's Way: Micro-Cap With Divestiture Opportunity [View article]
    So for Ag Products a 5 year EBITDA comparable wouldn't work well because of the acquisitions, Universal Harvester for example adds around 5-6 MM in annualized sales, not sure how much EBITDA but likely quite material, and they have done other acquisitions as well.

    I think a divestiture is super unlikely just going by what management comments, although I do agree this segment was the first thing that stood out to me when I was analyzing this company.

    I like the company as a cheap unfollowed play on a few niche agricultural segments, my only concern is that midwest agriculture might be at a cyclical high right now. Most of the discount in the stock is probably due to the illiquidity and general micro cap risk, I am fine taking that on as a small investor.
    Jun 14, 2013. 09:49 AM | Likes Like |Link to Comment
  • Calling A Bottom In Long Bond Yields [View article]
    Oh man a nice blast from the past...this completely came true and all of the mREITs you mentioned got crushed (coal has not done as well though). You were talking about the taper 6 months before it was ever mentioned!
    Jun 9, 2013. 12:09 PM | Likes Like |Link to Comment
  • The percentage of the stock market now owned by hedge funds (5%) is the highest since Q2 2008, BofA Merrill Lynch finds in its Hedge Fund Quarterly Report. Hedge funds reduced cash holdings to the Q2 2007 trough of 4.3%, and raised net equity exposure to the Q2 2007 peak of 59%. Their largest exposure is to consumer discretionary stocks (XLY) followed by IT (XLK) and financials (XLF). [View news story]
    These funds could easily be shorting futures at the same time. Basically the trade is that dividend stocks are overvalued especially if we see rising rates. The financials will benefit in that situation as well.
    Jun 8, 2013. 11:12 PM | Likes Like |Link to Comment
  • Intel (INTC) is "offering to pay as much as 75 percent more than traditional cable rates" to secure content for its Web TV service, Reuters reports. The higher rates likely have to do with Intel's upstart status, and its interest in offering features (e.g. an advanced cloud DVR) and more service flexibility (but not full-blown a la carte) than standard pay-TV offerings. Intel is said to have reached agreements with CBS, News Corp., and Viacom "over how their content would be distributed;" talks with NBC Universal are said to be less advanced. A March report indicated Intel had "signed off on the broad outlines of its service" with Time Warner, NBC, and Viacom. (previous[View news story]
    I'm an INTC investor and feel like this is interesting, but unlikely to work out and is probably not that material compared to the size of their core business even if it does (which I am pretty excited about).
    Jun 8, 2013. 12:11 PM | Likes Like |Link to Comment
  • Similar to a pattern seen a few times over the past few weeks, underneath a solid rally in the averages are big declines in a number of income favorites. The culprit again is falling Treasury prices, the long bond off more than a full point and yielding 3.32%. Some popular equity REITs: Equity Residential (EQR -1.3%), AvalonBay (AVB -1.4%), HCP (HCP -1.6%), Realty Income (O -2.6%), Senior Housing (SNH -2.9%), Omega Healthcare (OHI -1.3%), Government Properties (GOV -2%). Also: Continued rout in mREITs. [View news story]
    It is still a new paradigm. These stocks used to rise right along in rallies like this one.
    Jun 8, 2013. 12:05 PM | Likes Like |Link to Comment
  • Dividend Stocks: Lose-Lose-Lose Proposition In Intermediate Term [View article]
    With you 100% on this as usual and have felt this way about these stocks for some time (to be fair my lower weight meant I underperformed for a while until the recent selloff).

    What would you recommend for aggressive long-term growth investors? Sounds like that might be coming in the next article.
    Jun 7, 2013. 05:32 PM | Likes Like |Link to Comment
  • James River Coal: How Its Debt Swap Affects Valuation And Bankruptcy Risk [View article]
    Thanks for the great article, always good to see more quality articles on coal. Probably wasn't going to invest in JRCC either way and didn't feel like doing the math on this. Seems like a good tradeoff for both sides more or less.
    Jun 6, 2013. 05:49 PM | Likes Like |Link to Comment
  • Kansai Electric Power (KAEPY.PK -4%) slips again today, after losing more than 9% in the previous session, as Prime Minister Shinzo Abe says shuttered nuclear power plants will resume operations, but only after their safety was guaranteed. [View news story]
    Well that's obviously super bearish, only after safety is guaranteed. What a tough break. Guess the market had priced in unconditional approval.
    Jun 5, 2013. 09:48 PM | Likes Like |Link to Comment
  • Recently, the market learned that youth unemployment in Italy hit 40% in April to go along with a 36-year record high of 12% overall unemployment. Never fear though, Italy's trade union CGIL is out with its estimate of when the Italian economy will recover pre-crisis (un)employment levels: 2076, a mere 63 years from now. (original article[View news story]
    And I thought "lost decade" was bad...
    Jun 2, 2013. 11:02 AM | 2 Likes Like |Link to Comment
  • Major indices are still broadly higher, but under pressure going into the final hour. Dow +2.08% to 9512. S&P +2.65% to 992. Nasdaq +1.83% to 1758.  [View news story]
    Wish I could have bought the S&P at 992...
    May 27, 2013. 08:28 PM | Likes Like |Link to Comment
  • The Optimum Asset Allocation To Gold Is Always Zero [View article]
    Since any risk-free bond up to 15 years or so guarantees a return less than inflation it seems like gold, with its 0.33% real return would outperform that.
    May 27, 2013. 10:58 AM | 2 Likes Like |Link to Comment
  • California's got a new problem: Too much money. This year's expected surplus of $1.2B-$4.4B comes three years after the state faced a deficit of nearly $60B. Governor Brown - arguing the surplus is the result of a flood of capital-gains realizations ahead of higher 2013 tax rates - wants to put the money aside. The legislature - dominated by Brown's own party - wants to spend it. [View news story]
    But these liabilities can always be decreased by further increases in the discount rate to record spreads above corporate bond yields. And on the asset side they can switch to 100% stocks!!! Why put in a single dollar into these plans.
    May 26, 2013. 10:16 AM | 1 Like Like |Link to Comment
COMMENTS STATS
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