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Tom Au, CFA  

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  • J.C. Penney Is Getting Coal For Christmas [View article]
    Maybe the best investment will soon be in JCP bonds. They may become "the new equity."
    Sep 25, 2013. 02:32 PM | Likes Like |Link to Comment
  • Vale's Depressed Valuation Offers Opportunity For Anti-Cyclical Long-Term Investors [View article]
    People are afraid to buy now, at what may be near a bottom. Then they lose money later when they buy after the price has moved.
    Sep 24, 2013. 04:48 PM | 1 Like Like |Link to Comment
  • Gartman Reverses Himself On Gold [View article]
    Reminds me of the the story of the analyst who got the maximum bonus from his portfolio manager for getting every recommendation wrong. "Said the manager, "After the first trade, I figured you out and made a ton of money doing the opposite of what you said."
    Sep 23, 2013. 01:07 PM | Likes Like |Link to Comment
  • Gartman Reverses Himself On Gold [View article]
    Gartman is a "trend" or momentum trader. Nothing more.
    Sep 20, 2013. 03:37 PM | Likes Like |Link to Comment
  • Are Advertising Companies Good Dividend Paying Stocks? [View article]
    Advertising companies USED to be steady dividend payers. There are reasons why their payment streams were interrupted so they haven't been good dividend payers over the past 10 years. If you could elucidate those reasons, and explain why they won't occur in the future, it would support your thesis.
    Sep 20, 2013. 01:54 PM | Likes Like |Link to Comment
  • Getting Shocked By Utility Stocks [View article]
    Growth stocks are those that are believed to have growth rates that are larger than interest rate rises. Such growth gives many stocks protection against these rate rises.

    But utilities have "flat" earnings (and dividends) that look almost like coupon payments on bonds.

    All right, the earnings of utilities grow at an average of 2%-3% a year, just enough to offset inflation. So you can treat utilitiies like "bonds with an inflation fighter." Some of these are called TIPS (Treasury inflation protected securities).
    Sep 18, 2013. 02:43 PM | Likes Like |Link to Comment
  • Getting Shocked By Utility Stocks [View article]
    The reason for holding them during the interim was the dividends--or so they say.
    Sep 18, 2013. 10:53 AM | Likes Like |Link to Comment
  • Getting Shocked By Utility Stocks [View article]
    Utilities acted more like bonds than stocks--during a period when stocks way outperformed bonds.
    Sep 17, 2013. 01:40 PM | 2 Likes Like |Link to Comment
  • Value Investors: Beware Of Valuations [View article]
    "Follow the kids" is not generally good advice. What is this world coming to?
    Sep 17, 2013. 10:51 AM | 2 Likes Like |Link to Comment
  • Should Dividend Investors Hold Non-Dividend Paying Stocks? [View article]
    If you had bought MSFT in say, the late 1980s, when it was a non-dividend paying stock, you'd have a great yield on cost today.
    Sep 17, 2013. 09:22 AM | 1 Like Like |Link to Comment
  • The Last Thing You Should Do Is Buy The 3 New Dow Stocks [View article]
    You're right to hang on the the Visa shares that have performed for you for some time.

    But I think the author was trying to warn away NEWCOMERS.
    Sep 16, 2013. 02:15 PM | 3 Likes Like |Link to Comment
  • Is Foot Locker's Growth Sustainable? [View article]
    Price to book value ratio of company being lower than the industry average doesn't mean much unless you also look at returns on equity (ROEs). That is, you could say FL has a cheaper P/B ratio compared to its return on equity than the industry does, compared to the industry ROE.
    Sep 16, 2013. 01:48 PM | Likes Like |Link to Comment
  • Are We Approaching A Market Top? 4 More Indicators Weigh In [View article]
    As I remember Jeff Bezos' 1999 appearance on the cover of Time Magazine marked what was then a top in Amazon stock.
    Sep 16, 2013. 10:25 AM | Likes Like |Link to Comment
  • Why Herbalife Isn't Going Anywhere [View article]
    Maybe Seeking Alpha edited your title wrongly, but it should be,"Why HLF Isn't Going Away Anytime Soon."

    To me, "Why HLF Isn't Going Anywhere" implies "dead in the water," which I don't think is your thesis.
    Sep 5, 2013. 04:47 PM | 6 Likes Like |Link to Comment
  • The Dividend Champions Have Truly Been Champions [View article]
    Regarding the issue of backtesting: All of today's dividend champions were at least "contenders" on December 31, 1998. By definition.

    That is not a backtest.
    Sep 5, 2013. 03:08 PM | 3 Likes Like |Link to Comment
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