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Ron Myers

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  • The debate about whether or not raising taxes on the rich would increase government revenue, is "beside the point," writes John Carney on CNBC. The real reason to hike taxes is to fight inflation, but if and when it exists, the measure possibly wouldn't cure that problem either. "The proposals to raise taxes on the wealthy just don’t add up," Carney writes. [View news story]
    CEO's are 11.5 times better leaders now and deserve the extra money for being risk takers with other people's capital.
    Aug 26 10:27 AM | 11 Likes Like |Link to Comment
  • ZIRP for everybody! That's Sheila Bair's "perfect solution" to America's income inequality; it would require merely a small adjustment to the Fed's easy money policy already available to (and highly profitable for) big banks and hedge funds. It "won’t cost taxpayers anything because the Fed is just going to print the money." Who knew Sheila had such a sarcastic wit?  [View news story]
    This would be funny except that this would actually be a better policy than what we have right now.
    Apr 14 11:09 AM | 10 Likes Like |Link to Comment
  • The Coming Rebound In Commodities, Coal, And Coal Stocks [View article]
    Absolutely agree 100% and am positioned accordingly. Hope to see more articles from you in the future.
    Jul 1 05:03 PM | 7 Likes Like |Link to Comment
  • Why a stock market correction should be welcome... or not [View news story]
    "A correction should be welcome"...you have got to be kidding me why would losing close to one year's returns be welcome to anyone? And now fixed income is even less attractive as well. Welcome would be for monetary policy to be somewhere near historical norms, so that investors could choose investments based on their risk tolerance, rather than being forced into stocks/high yield by the Fed because everything else returns 0.
    Jan 25 12:24 PM | 6 Likes Like |Link to Comment
  • California may face its biggest regional power shortages since the days of Enron this summer, as the state grid will be operating without Edison's (EIX) San Onofre nuclear power plant and two natural gas-fired units, while hydroelectric output will be at a three-year low. Even bigger shortages may await in the next decade as state environmental regulations force more plants to shut down. [View news story]
    This is what happens when you crush coal. Don't feel bad for them at all.
    Apr 20 01:22 PM | 6 Likes Like |Link to Comment
  • Apple (AAPL): FQ4 EPS of $8.67 misses by $0.08. Revenue of $36B (+27% Y/Y) beats by $200M. 26.9M iPhones sold, 14M iPads, 5.3M iPods. Shares halted. (PR[View news story]
    It's all over...
    Oct 25 04:38 PM | 6 Likes Like |Link to Comment
  • My 2013 Year In Review [View article]
    For the haters here, it took me 30 seconds to find his post titled 2013 Outlook: Stock Bulls May Have Room To Run, Bond Vigilantes Lurk. And the stock market bubble articles pretty much all predicted the runup to continue as well, they were more around the distortion fed policy would have on the overall economy. The biggest miss was probably on LINE but sometimes the single stock stories take time to work out.

    I had a nice year positioned much like the suggestions in the 2013 outlook, except for emerging markets which were terrible. So I guess the proof is in the account balances for me which is all I really care about in the end. Looking forward to the 2014 outlook.
    Dec 31 11:59 AM | 5 Likes Like |Link to Comment
  • Rick's Cabaret Is A Cheap 'Sin' Stock Worth More Than Double [View article]
    Outstanding article. As cheap as the stock is it will probably always trade cheap for the reasons you laid out.

    Still when I look at the financials all I see is growth, strong free cash flow, and improving operating leverage. The interest expense is extremely manageable. The company isn't even covering 20% of the US so there is plenty of room for further growth. They are probably the largest operator of these things anywhere so they likely have scale advantages as well. Reading the reviews of the actual operation, most are fairly highly rated and sound professionally managed. I guess I don't see what's not to like here as this is not a business that is ever going away. If this company sold fake organic burritos it would trade at $40 a share.
    Jul 2 01:09 PM | 5 Likes Like |Link to Comment
  • Marchers in more than 400 cities across 52 countries took part in protests against Monsanto (MON) today, calling attention to what they say are dangers posed by genetically modified foods. Monsanto is "poisoning our children, poisoning our planet," claims one of the organizers. The company says its seeds help farmers produce more from their land while conserving resources such as water and energy. [View news story]
    To tell the truth I don't have any proof either way that MON food is safe or not. My guess is that it's probably no worse for you than non-GMO versions as long as the herbicides used are fully removed, but I don't really know.

    Unfortunately since the chief regulator who decides whether their food is safe worked at MON I can give the FDA no credibility on this issue. Just from the Baynesian standpoint, it's tough to get one of your "people" into a position of power like that, so they probably have at least something to hide. In addition their business practices are despicable.
    May 25 11:53 PM | 5 Likes Like |Link to Comment
  • Bill Gross takes advantage of the recent selloff in TIPS (TIP) to add to his holdings, noting the break-even rate for longer-dated paper has fallen to 2.35% (if inflation comes in above this number, TIPS outperform Treasurys). Yesterday's Treasury auction of TIPS was a mess, with one trader calling the action a "get me out" trade. Gross is getting in. [View news story]
    Well the problem with TIPS is that the number that determines how much interest the bonds pay is determined by the people who pay the interest on the bonds. How anyone could ever buy such a security is beyond me.
    Apr 19 12:51 PM | 5 Likes Like |Link to Comment
  • J.C. Penney (JCP) confirms Ron Johnson is "stepping down and leaving the company." Mike Ullman, who was J.C. Penney's CEO until Nov. 2011, is replacing Johnson as CEO, and has also been elected to the company's board. Investors don't seem crazy about the choice, JCP now just +0.5% AH. (previous) Update (5:33): Shares are now down 4.4% AH. [View news story]
    Can't believe the haters. Johnson never had a chance. Their business was a cornerstone of the middle class which is shrinking at around 10% a year in this country. Everything has moved downmarket, upmarket, or online and their best comps are all doing absolutely terribly as well if not bankrupt already.

    Ron Johnson's strategy was a failure but it at least could have worked whereas the status quo is completely doomed. No positions and no interest either way.
    Apr 8 07:09 PM | 5 Likes Like |Link to Comment
  • If the rumors of a Facebook (FB) phone are true, investors should consider abandoning ship, says Henry Blodget. The company would have to face intense and entrenched competition to establish itself in a field that could hurt its own margins in a move that smacks of defensive desperation.  [View news story]
    But the only possible way you could justify investing in FB in the first place is the possibility that their genius team led by Zuck could come up with the next big thing. Even if they signed up every computer in the world to FB as it is now they'd still be a 50x earnings stock. But the idea that "hey, these guys created FB, they know the social consumer, maybe they're working on other great stuff that might actually generate revenue" is not as far fetched.

    I see this is as bullish as instead of the stock being 100% terrible it is now instead 99% terrible as there is at least some chance the phone could work out.
    May 28 12:59 PM | 5 Likes Like |Link to Comment
  • Japanese utilities plan to increase fees for peak-hour electricity usage in an effort to head off possible power shortages this summer following the closure of the nation's nuclear power plants. Starting in June rates for some power plants will be four to six times higher during the peak hours of 1 p.m. and 4 p.m. than those for night time hours.  [View news story]
    The people got what they wanted (the shutdown of nuclear plants) and now they have to pay. Of course the better solution would be to operate the nuclear power plants they have but charge 10% more or something and spend those funds on safety. This would save more lives then shutting them down ever would as the marginal people forced into homelessness alone due to the power costs will cause more loss of life than 1000 years of nuclear accidents. But when the regulators are completely captured as is the case in Japan, who could ever trust these funds would go to the correct cause?
    May 21 11:04 PM | 5 Likes Like |Link to Comment
  • The next economic boom, writes Daniel Gross, will be created by the efficiencies unleashed by America's transition from an Ownership Society to a Rentership Society. It's not just housing - citizens are getting used to the flexibility of renting across a whole range of goods. "The U.S. economy needs the dynamism that renting enables as much as - if not more than - it needs the stability that ownership engenders."  [View news story]
    This is not an improvement as people would prefer to own houses, cars, and clothes, but they simply don't make enough money to do so. It's not a secular shift in attitude as much as a secular shift in the economy.

    I do wish I could rent a degree. I'd pay half of what I paid for college just to have a degree for job interviews only.
    May 5 06:53 PM | 5 Likes Like |Link to Comment
  • 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 12:06 PM | 4 Likes Like |Link to Comment
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