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Seppo Sahrakorpi  

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  • M&A Daily: Mao For Capitalists [View article]
    Thanks! Simo Häyhä is a legend in Finland, and still holds the world record. Finns had to rise to extraordinary feats during that time of peril.

    Speeding while rich is not encouraged in Finland. The logic is that the monetary penalty should sting every person equally, the definition of 'equal' being 'in the same ratio to ones annual income'. So millionaires with taxable income end up with these massive speeding tickets for minor infractions. And of course this policy fits the socialistic / jealousy mentality where there is something wrong with a person if s/he has money and it is OK to tax etc that money to the max :)
    Sep 2, 2015. 09:48 AM | 1 Like Like |Link to Comment
  • M&A Daily: Mao For Capitalists [View article]

    I have Nokia ADR (ticker NYSE:NOK) shares and Nokia being a Finnish company, the Finnish government holds back 30% of the dividends :( Getting the foreign holding back is a painful bureaucratic process, and not even worth it or possible for small amounts. The details are dependent on the bilateral tax treaty between the two countries, the US and Finland in my case.

    The best resource for information per my experience is to contact the issuer/manager of said ADRs in US (i.e. not your broker). In Nokia's case this is Citi. I got a very quick, detailed, and professional reply from them to my specific question.
    Sep 2, 2015. 08:14 AM | 1 Like Like |Link to Comment
  • Why Shorting Volatility Now May Be A Very Favorable Trade [View article]
    @RJ (and @rock) I am with you in this one. IMO, now is not yet a time to enter into a long SVXY position. The hit on VIX was too hard, and moreover, did not resolve immediately / quickly enough. Rather than backwardation has persisted for a week now, and VIX is still substantially elevated. This can go on for a long time (see 2008, and 2011), with backwardation eating SVXY alive. And any additional volatility event (even minor rise in VIX) will substantiate the damage in SXVY.

    Like many of us here, e.g. you, Rock, Jay Wolberg, Stephen Aniston, Eli Mintz etc, I have done extensive modelling of VXX / SVXY trading. Anyone who wants to trade in volatility should carefully study the above authors' and other's work and articles here on SA before placing trades.

    For what it is worth, my (proprietary, under development) model does not indicate that we are anywhere close to conditions for entering into a long SVXY I am still waiting in the sidelines...
    Aug 30, 2015. 11:43 PM | 1 Like Like |Link to Comment
  • Microsoft reports 75M+ Windows 10 installations, strong app store growth [View news story]
    @breacher Excellent point. Thanks for the reminder. I will not update to Win10 until they have fixed this...i.e. reverted back to 8.1 functionality on Onedrive.
    Aug 26, 2015. 12:52 PM | 2 Likes Like |Link to Comment
  • Cray: Another Odd Post-Earnings Selloff Creates Another Buying Opportunity [View article]
    I also have difficulty understanding the massive sell-off. I had sold more than half of my long position earlier at $30+, but added more again around $23 after the earnings. And now I am planning on adding more.

    Note that Blue Gene is PowerPC architecture, not x86, and to my understanding stayed with IBM. But regardless, Cray has recently had nice wins over IBM/BG.
    Aug 26, 2015. 09:58 AM | Likes Like |Link to Comment
  • Trading Low Volume Exchange Traded Products [View article]
    Good info, thanks!
    Aug 25, 2015. 09:02 PM | Likes Like |Link to Comment
  • Time To Short Volatility Again [View article]
    Wow, pre-market backwardation -15%, SVXY down ~32% to ~$47 from Friday...this is going to take a while to clear up...
    Aug 24, 2015. 09:17 AM | Likes Like |Link to Comment
  • Time To Short Volatility Again [View article]
    Thanks, good thoughts.

    This time is different, i.e. this is not a single variable event. Thus / luckily I did not enter into a long SVXY / XIV position today. Will need to wait for things to stabilize... i.e. your indicators, combined with contango back to -1% to 0% levels...
    Aug 21, 2015. 09:46 PM | Likes Like |Link to Comment
  • A Market Top? 15 Warning Signs [View article]
    Good point.

    Bloomberg had a few months ago an interesting article on how low oil prices are depriving many SWFs from new money, leading to lack of (stock etc) buyers at global scale.
    Aug 21, 2015. 11:15 AM | Likes Like |Link to Comment
  • Caution Needed In The Current Volatility Market [View article]
    VIX futures extended trading hours:
    Aug 20, 2015. 10:42 PM | Likes Like |Link to Comment
  • Timing The VIX: A Lesson In Context [View article]
    @Nathan Agreed. Lots of moving parts ATM. This is not a run of the mill single source VIX spike event.
    Aug 20, 2015. 10:36 PM | Likes Like |Link to Comment
  • After Nokia's Q2 Earnings, Improving Revenue And A Flat Share Price Are Possible [View article]
    @knight Correct, monetary value of Samsung deal is outside any guidance Nokia provides.

    @Timothy, Good read, thanks!
    Aug 11, 2015. 08:34 AM | 2 Likes Like |Link to Comment
  • Timing The VIX: A Lesson In Context [View article]
    Download spreadsheet here (Intelligent Investor):

    It has VIX, and first two months' futures since 2004.
    Aug 5, 2015. 10:15 AM | Likes Like |Link to Comment
  • Vringo V. ZTE: Shares Undervalued, Manipulation And Pressure Tactics Headline SDNY Battle [View article]
    $817M is ~$8 per share... :)

    All in all, that 178-10 Exhibit J is an interesting read regarding ZTE's tactics...
    Jul 31, 2015. 07:21 PM | 3 Likes Like |Link to Comment
  • BlackBerry +5.6%; Morgan Stanley upgrades, cites cash and job cuts [View news story]
    Patents are only worth something once monetized. This takes years of litigation, negotiations, with no guarantee of success, see e.g. Nokia v Apple, Nokia v. Samsung, Ericsson v. Apple, Vringo v. Google, Vringo v. ZTE, etc etc...
    Jul 30, 2015. 10:23 AM | 3 Likes Like |Link to Comment