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Tom Au, CFA  

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  • Watch Out For The Modern Credit Anstalt Bank [View instapost]
    I hope that you are right, and fear that you are not.
    Jul 9, 2015. 07:20 PM | 1 Like Like |Link to Comment
  • The Philosophy Of Value Investing - Reject 'New Paradigm' Thinking [View article]
    As it were, we have had a "new paradigm" of historically high valuations dating back to the Persian Gulf War of 1991.

    This has been founded on U.S. global geopolitical and economic supremacy, as of that time.

    If the "supremacy" disappears, so will the "new paradigm."
    Jul 6, 2015. 12:00 PM | 1 Like Like |Link to Comment
  • Lessons Learned: Time To Simplify The Well-Valued Growth Portfolio [View article]
    You've done very well by any relevant measure. You shouldn't mind "underperforming" when the market is going crazy, as it did just before the turn of the century (and more recently).

    I'd take your portfolio any decade over the "market."
    Jul 6, 2015. 11:14 AM | 1 Like Like |Link to Comment
  • Wells Fargo Equity Strategist Stuart Freeman: Greece Benefits Large Cap U.S. Stocks, S&P... New Highs In 2016 [View article]
    This person is an optimist who takes comfort in others' troubles, rather than seeing that someone else's troubles might be a precursor to ours.
    Jul 6, 2015. 11:11 AM | Likes Like |Link to Comment
  • Greece Isn't The Only Swan, And A Rare Rotation [View article]
    Right on, Michael. The permabulls think the party will last forever, even though it has already lasted longer than is reasonable. Shades of 2007.
    Jul 6, 2015. 10:59 AM | Likes Like |Link to Comment
  • Preparing For The Market's Collapse [View article]
    Market crashes in 2000, 2008, 2016(?)
    Apr 28, 2015. 05:06 PM | 1 Like Like |Link to Comment
  • Drilling For 3-Year, 7.25% Yields, And 5½-Year, 8.82% Yields, With Transocean's Baa3/BBB- Rated US Dollar Bonds [View article]
    Are there any CONVERTIBLE bonds worth noting, for this (and other) oil field services companies?
    Apr 13, 2015. 05:37 PM | Likes Like |Link to Comment
  • Are San Francisco Housing Prices Foreshadowing The Next Global Financial Downturn? [View article]
    Dear Mr. Bostrom: What can you tell me about Seattle housing prices? I own a property in Portland, Oregon, and to paraphrase Euclid, two points determine a straight line (with San Francisco being the other point).
    Apr 3, 2015. 05:43 PM | Likes Like |Link to Comment
  • Do These 3 Graham's Formula Stocks Satisfy Growth And Value? [View article]
    These look like "almost" buys.

    It's just as important to screen (out) the "almost" buys as to screen (in) the actual buys.
    Feb 3, 2015. 10:53 AM | 1 Like Like |Link to Comment
  • I'm Not Buying Starbucks At These Prices [View article]
    Given the growth rate of the dividend, I would be looking to buy SBUX for a 2% yield. That would be a price of $64 based on the current dividend. If I could get comfortable with the idea that the next dividend raise will be to 38 cents a share per quarter, I could go as high as $76.
    Jan 3, 2015. 04:49 PM | Likes Like |Link to Comment
  • Top 10 Stocks For 2015 [View article]
    This group is finance-heavy. That suggests that it will either be a strong success or a strong failure.
    Dec 29, 2014. 09:43 AM | 2 Likes Like |Link to Comment
  • Can DGI Aristocrats Beat The Market? [View article]
    With the exception of Exxon Mobil, all of the stocks were "dividend champions" in 2004 as well. This is about as as good a "blue chip" list as can be found in the United States. They don't call them "blue chips" for nothing.

    The "exception to the rule" (of their outperformance) can be found when the "blue chips" become the (overvalued) Nifty 50, as in the early 1970s, or when e.g. tech stocks are going "wild," as in the late 1990s.
    Dec 26, 2014. 08:46 PM | 4 Likes Like |Link to Comment
  • Can DGI Aristocrats Beat The Market? [View article]
    Your strategy works except for during very "exuberent" periods like 1995-1999. But these periods come once every 30-35 years or so (the next should come in the 2030s), and you don't mind "underperforming" during such periods.
    Dec 26, 2014. 08:12 PM | 4 Likes Like |Link to Comment
  • Intel: Why One Of Seeking Alpha's Biggest Bulls Sold His Shares [View article]
    Intel was a buy when the yield was close to 4%, and the closer the yield gets to 2%, the more of a sell it becomes.
    Dec 23, 2014. 11:44 AM | 1 Like Like |Link to Comment
  • Intel Valued As Though New Technologies Will Bust, But I Disagree [View article]
    Here is a paper from the IBM Systems Journal entitled "The Utility Business Model and the Future of Computing Services."
    Apr 24, 2014. 03:59 PM | Likes Like |Link to Comment