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Tom Au, CFA

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  • Credit Suisse and ETFs: Going for Broke? [View article]
    Credit Suisse has "always" gone for broke. As with their acquisition of America's First Boston, then America's Garantia.
    Jun 19, 2009. 03:40 PM | 1 Like Like |Link to Comment
  • Gold: Critical Test for Inflation Trade [View article]
    Gold is in a "normal" uptrend, pricing in "normal" inflation. Not currently "testing," or saying much of anything.
    Jun 19, 2009. 02:11 PM | 1 Like Like |Link to Comment
  • Solution to Our Economic Mess? Limit Leverage! [View article]
    Reduce leverage. Those are first principles.

    Of the two, pverl leverage is more dangerous than misjudging asset value. The latter can cost you no more than 100% of your investment; the former can cost a multiple of your investment.
    Jun 19, 2009. 02:07 PM | 2 Likes Like |Link to Comment
  • Fiserv: Part of the Financial Services Industry's Solution, Not the Problem [View article]
    Welcome aboard my followers, Chuck. Hope to produce blogs and other posts of interest to you.
    Jun 19, 2009. 12:08 PM | Likes Like |Link to Comment
  • Heading For A Showdown With North Korea [View instapost]
    Good idea. Please tell that to President Obama. I don't have the requisite authority.

    On Jun 17 09:15 PM builderx wrote:

    > Why not do the simple thing and give S. Korea a nuclear deterrent
    > of it's own? Here's why this is a good idea:
    > 1) MAD has a good historical track record for stalemating a nuclear
    > conflict [US and Russia].
    > 2) MAD has a good recent-history track record for stalemating a nuclear
    > conflict [India and Pakistan]. Despite what everyone feared, these
    > 2 haven't had a nuclear conflict (or any other major military conflict,
    > for that matter).
    > 3) Relying on the US to bear the "white man's nuclear umbrella-burden"
    > is a recipe for disaster. All N. Korea has to do is ship 2 nukes
    > into the US (one to "show that they're serious" and another to detonate)
    > and the US would sell S. Korea out in a heartbeat. In case anyone
    > thinks that smuggling 2 nukes into the US is technically impossible,
    > consider that tons of concain make it in even though we're fighting
    > a 'war on drugs'.
    Jun 19, 2009. 11:13 AM | Likes Like |Link to Comment
  • Fake Dollar Bonds Touch A Raw Nerve [View instapost]
    The AMERICAN monetary authorities have the final say on U.S. dollar instruments.

    On Jun 18 11:03 AM Troy Ounce wrote:

    > What is your source that the bonds were fake? Die Welt in Germany
    > states that they are real! You are speculating.
    Jun 19, 2009. 11:12 AM | Likes Like |Link to Comment
  • How ETF Investors Fare [View article]
    Dumb investors will always get hurt, no matter what the instrument. That's what makes them "dumb."
    Jun 19, 2009. 10:22 AM | Likes Like |Link to Comment
  • Norfolk Southern - Why I'm Bullish [View article]
    NSC is a Buffett investment in the Graham and Dodd style. Go for it.
    (Long BRKA/, BRK/B)
    Jun 19, 2009. 09:44 AM | Likes Like |Link to Comment
  • Book Review: The Four Filters Invention of Warren Buffett and Charlie Munger (Two Friends Transformed Behavioral Finance) [View article]
    Would you like to review my book, "A Modern Approach to Graham and Dodd Investing?" Spasebo.
    Jun 19, 2009. 09:16 AM | 1 Like Like |Link to Comment
  • Time to Retire Roubini [View instapost]
    Roubini called the 2008 stock market crash. Enough said.
    Jun 19, 2009. 09:12 AM | 2 Likes Like |Link to Comment
  • Top 12 Indicators That the Economy Is Still Bad [View article]
    Dear Donald:
    All your differences are in favor of the original 1930s. That's why the modern 1930s figure to be worse.

    On Jun 18 10:55 AM Donald Ingram wrote:

    > Most everyone compares the present to the 'Crash of 29' and the Great
    > Depression, which is perfectly acceptable since this is the only
    > occurrence in history that is similar to today.
    > However to say "its the same as" is to ignore the facts of the day
    > in the different eras. Case in point during the 'Dirty Thirties'
    > there were 180 million less Americans! It was a production society,
    > not a consumption society. The U.S. was a creditor nation, not a
    > debtor nation. Self reliance was prevalent instead of relying on
    > the 'Nanny' state. Community was much more close knit instead of
    > being fractured and compartmentalized as the present.
    > The only REAL commonality is the fact that the two events share the
    > same dividend - suffering amongst the people.
    Jun 19, 2009. 08:49 AM | Likes Like |Link to Comment
  • "I believe we will look back on the 'Chinese economic miracle' as the sickest joke yet played on investors," says one Credit Suisse analyst, after noting falling earnings at China's industrial companies.  [View news story]
    The Chinese economic miracle is not "a sick joke." But the recent rally in commodity prices (and the world stock markets) may be.
    Jun 18, 2009. 04:45 PM | 1 Like Like |Link to Comment
  • Inflation Relief Won't Last [View article]
    Welcome aboard, Rob. You know me from, right?
    Jun 18, 2009. 03:41 PM | 1 Like Like |Link to Comment
  • Morgan Stanley's Stephen Roche Says Keep You Money Abroad [View instapost]
    I believe the man's name is Stephen Roach.
    Jun 18, 2009. 02:42 PM | Likes Like |Link to Comment
  • Financial Sector Reforms: Letting the Fox Guard the Hen House [View article]
    The smartest people go into the private sector and become "foxes." Less smart people go into government and become "dogs." And the dumbest become "hens." Second and third groups no match for the first.
    Jun 18, 2009. 02:04 PM | Likes Like |Link to Comment