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Tom Au, CFA  

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  • Western Banks And China: 'Interesting Times' Are Coming [View article]
    This reminds me of the impact that the Credit Anstalt Bank of Austria (Germany's largest offshore bank) had on the global economy in 1931.
    Feb 14, 2014. 02:14 PM | Likes Like |Link to Comment
  • Herbalife, USANA touched by Nu Skin investigation [View news story]
    China: That's the country that will determine the fate of the U.S. MLM's. Not some country like Belgium.
    Jan 16, 2014. 11:09 AM | Likes Like |Link to Comment
  • 4 Scary Charts Warning Of The Next Financial Crisis [View article]
    Genghis Khan was never Chinese! He was Mongolian.
    Jan 6, 2014. 10:51 AM | 1 Like Like |Link to Comment
  • ModernGraham Valuation Of Visa [View article]
    Visa is not a "new company." But it is a new STOCK. Which is why it doesn't pass traditional Graham tests.
    Nov 21, 2013. 03:18 PM | Likes Like |Link to Comment
  • 1959: The Year Economics Changed And Nobody Noticed [View article]
    $521.68 vs. $381.17. Bill Gross of Pimco calculated the average annual total investment return on the Dow as 0.6% "real" (after inflation) in the 20th century, meaning that most of your real total return came from dividends.
    Nov 19, 2013. 12:54 PM | Likes Like |Link to Comment
  • Lonely JCP bull sees +10% comp sales growth in Q4 [View news story]
    Is that the Gilford Securities that hired (short-seller) James Chanos over 30 years ago?

    That would be the ultimate irony.
    Nov 13, 2013. 01:29 PM | Likes Like |Link to Comment
  • 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