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Tom Au, CFA

 
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  • Can You Go On Holiday 10 Months A Year And Beat The Indexes? [View article]
    The last time I was a portfolio manager, I generated most of my outperformance in two months of a year.

    But I never knew in advance which two months.

    So I had to "stick around" for all twelve.
    Nov 13, 2013. 10:52 AM | Likes Like |Link to Comment
  • Lee Enterprises: When A Company Burns The Furniture, Investors Should Short The Stock [View article]
    In extreme form, this motto is "tear down the house for firewood." Yes, you end up burning the house itself (or part of it) to stay warm.
    Nov 12, 2013. 09:40 AM | Likes Like |Link to Comment
  • The Irony Of Herbalife Entering Cambodia [View article]
    Sounds like HLF is headed for the "killing fields."

    If they can sell their products/business opportunity there, they can sell them anywhere in the world.
    Nov 8, 2013. 02:54 PM | 1 Like Like |Link to Comment
  • Herbalife - The Fog Of War, And Double Trouble [View article]
    According to Sun Tzu (The Art of War), the "cool, calm, professional " is likely to beat the "hurried," charging bull.

    And as Bill Clinton might say, "it all depends on what IS is."
    Nov 6, 2013. 01:23 PM | Likes Like |Link to Comment
  • JPMorgan Loves Powerful Asian Families [View article]
    About 30 years ago, a Korean-American friend of mine went for an interview out of business school with what was then J.P. Morgan. Remarking on the lukewarm reception she got at the interview, she said, "I thought you were making a push into Korea and wanted to talk to Korean-speaking candidates." The Morgan representative said, "Yes we are, but we are interested in hiring members of the local elite, and you're not one of them."

    "The more things change, the more they remain the same."
    Nov 4, 2013. 01:30 PM | Likes Like |Link to Comment
  • Why Beating The S&P 500 Is Irrelevant To Me [View article]
    Actually, you WANT your dividend growth stocks to underperform theS&P 500 in the early years, so you can acquire more of them for the same money.
    Oct 22, 2013. 02:12 PM | 2 Likes Like |Link to Comment
  • Chipotle's Sales Surge On Traffic Gains; High Food Costs Dent Margins [View article]
    Chipotle is a "green" food company that just happens (in the past) to have served "Mexican." So tofu actually fits better than say, more tacos.
    Oct 22, 2013. 12:17 PM | Likes Like |Link to Comment
  • Here's Where To Find Great Dividend Stocks [View article]
    Telecom and utilties have been considered (in the past) the quintessential dividend-producing industries, yet they are not in the top three. I guess their dividends have stopped growing?
    Oct 22, 2013. 12:14 PM | Likes Like |Link to Comment
  • Cashin sees bubble in cloud/mobile tech names [View news story]
    The problem with valuing "new tech" on "special" metrics, is that "new tech" always becomes "old tech" eventually.
    Oct 19, 2013. 07:24 PM | 3 Likes Like |Link to Comment
  • The Only Buffett Stocks You Should Be Buying Now [View article]
    Buffett has rhapsodized about the performance of his two "apprentices," and how much better they are than him (given his reluctance to sell legacy holdings).

    At some point, the boss hires people to protect him from himself.
    http://seekingalpha.co...
    Oct 14, 2013. 12:52 PM | Likes Like |Link to Comment
  • The Only Buffett Stocks You Should Be Buying Now [View article]
    The five undervalued holdings were bought by the two "trainees" that Buffett hired to succeed him as Chief Investment Officer. Buffett's own "legacy" holdings are overvalued.
    Oct 14, 2013. 11:12 AM | 1 Like Like |Link to Comment
  • Dividend Aristocrats + Equal Weighting > S&P 500 Update [View article]
    Basically, the dividend aristocrats strategy outperforms, except in bubble markets like those of 1998-1999. And those are markets where you might not mind "underperforming," when dividend aristocrats will give you a perfectly satisfactory return.
    Oct 14, 2013. 10:36 AM | 1 Like Like |Link to Comment
  • Danger Zone: Utility Sector Funds [View article]
    Is it fair to say that ALL the interest-rate sensitives, utilities, financials (and even techs) are in danger based on the above thesis?
    Oct 11, 2013. 01:29 PM | Likes Like |Link to Comment
  • J.C. Penney Is Getting Coal For Christmas [View article]
    And Merry Christmas to you.

    http://seekingalpha.co...
    Oct 10, 2013. 03:31 PM | Likes Like |Link to Comment
  • Super Dividend Contenders: October 2013 Edition [View article]
    The Bottom 5 are "bottom 5" based on what "everyone" knows. It's possible that particularly knowledgeable investors can make money on one or more of them based on what they know (and others don't).
    Oct 10, 2013. 01:01 PM | 1 Like Like |Link to Comment
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