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  • Chart of the Day - Inflation Adjusted Dow [View article]
    Thank you very much. Just what I am looking for and it fills in the fairly wide gaps in my recent inflation adjusted returns on equities, article.
    Jun 19 07:10 PM | 6 Likes Like |Link to Comment
  • Credit Suisse and ETFs: Going for Broke? [View article]
    You have a keen eye and produce a volume of quality analysis that is quite frankly staggering. 5m plus hits on your blog. Amazing. When I grow up, I want to be Tyler Durden.
    Jun 19 03:21 PM | 6 Likes Like |Link to Comment
  • The Coming Economic Collapse, Part 1 [View article]
    Really interesting article. Well written. I like the inflation linked comparision. Though there is of course a fundamental difference to why families work harder now than 35 years ago. It's because they want more. More cars, more vacations, bigger houses, more gadgets, etc.

    If you compare income to necessaties, then I think today the average American compares very favourably to his parents, or grandparents 35 years ago.

    I am not trying to diminish the severity of the current recession and how it is hurting the 9% unemployed, but now for the majority, a recession means delaying the iPhone purchase. A recession in the 70's meant putting off buying shoes.
    Jun 5 07:28 PM | 6 Likes Like |Link to Comment
  • The New York Times’ Online Meter Will Hardly Move the Needle [View article]
    Excellent review. Information will always be available for free as someone, somewhere will be willing to provide it with an ad next door.

    This new NYT policy is a mistake. I used to visit many times a day. Now I don't bother. The same info is available elsewhere without having to pay or register.
    Jan 20 02:31 PM | 5 Likes Like |Link to Comment
  • NY Times Announces Move to Paid Content in 2011 [View article] started a premium service about a year ago. You can read 2 articles a month then you have to register for a premium service. It's a total joke. Do these precious websites think their information is more valuable than the free information we can get from other sites - like SA - for example

    All they are doing, by charging, is pushing readers to collaborative social sites. I am never going to pay for off-the-shelf information. I may pay for expert opinion. There's a difference.

    Mainstream old fashioned media firms still don't get it.
    Jan 20 02:25 PM | 5 Likes Like |Link to Comment
  • Paul Tudor Jones: The Great Liquidity Race and Gold [View article]
    "The forceful policy response to avert depression tail risks posed by the financial crisis has likely unleashed a wave of liquidity which is probably greater than that of 2001-2003."

    Not "probably" Sir. It is definitely greater.

    We have never seen such a wave of liquidity forced on markets. If that liquidity is well spent (on projects that can generate new streams of economic value) we will have a sustainable recovery.

    If the liquidity is wasted on zero-sum financial speculation or on propping up fundamentally flawed industries we are just digging a bigger hole for ourselves.
    Nov 1 05:09 AM | 5 Likes Like |Link to Comment
  • Another Reason You Should Be on the Sidelines Now [View article]
    You articles continue to be a must read.

    I learn something everytime. Thanks.
    Nov 1 04:49 AM | 5 Likes Like |Link to Comment
  • The Time for Diversification Away from the Dollar Is Upon Us [View article]
    As an investor you wouldn't put all your money in one asset: silver, Aussie dollars, $GOOG would you?

    So it's totally illogical that the USD is the only reserve currency.

    Diversification doesn't just make theoretical sense it's a must.

    The question is what should the other reserve option be? Gold, JPY, CHF?

    I don't know the answer but I know putting all your eggs in one basket, even the USD, goes against everything we have been taught as investment professionals.
    Oct 7 06:35 AM | 5 Likes Like |Link to Comment
  • Gold / Oil Ratio Breaks Down [View article]
    Very interesting article. I had never thought of the ratio between the two before in this context. But what does the gold/oil ratio moving from seven to 28 tell us? That the shiny stuff is too expensive in the light of the global economic stabilsation? If $950 is the right price for gold because of weak dollar fundamentals then oil must be too cheap?

    There is a key difference between higher gold and higher oil prices though. Higher gold might be just a demand and supply issue. There would be minimal impact on the wider economy. But higher oil prices would damage global economic growth. So in that respect we want a high gold to oil ration. 28 is good. Seven is a diasaster.
    Aug 21 05:33 AM | 5 Likes Like |Link to Comment
  • Why Is the Fed Buying Treasuries? [View article]
    "...followed shortly by a downgrade to the U.S.'s national credit rating, which still holds the same farcical “AAA” rating as trillions of dollars of Wall Street scam-products."

    Beautifully worded and very accurate.
    Aug 9 04:03 AM | 5 Likes Like |Link to Comment
  • Accelerating Bank Failures Refute Recovery Hype [View article]
    Actually I think the bank failures will go on for many months, maybe years. We have still only had a fraction of the banks failures relative to the recession in the early 90's.

    A lot more pain ahead for the small banks. Depositers will be drawn to security and banks that offer peace of mind. That means they will invest with the "too big to fail" government supported banks. Wholesale markets may never be the same again either with new regulation and risk controls.
    Aug 3 04:05 AM | 5 Likes Like |Link to Comment
  • 1929 All Over Again? [View article]
    Another 1st class article.

    One observation. In 1929 there was much less proactive government action. It was years before Roosevelt started the massive capital and infrastrucuture investment. This time round billion of dollars was being injected literally within weeks. The recovery path relative to 1929 should be different and the -1% GDP data for Q2, relative to -5.5% Q1, implies a Q3/Q4 recovery, which would be years ahead of the 1929 crash timetable.
    Aug 2 03:41 AM | 5 Likes Like |Link to Comment
  • Is China Replacing India as the World's Premier Gold Consumer? [View article]
    India "consumes" gold with retail buying. China is set to double its gold reserves again after already doubling them over the last 5 years.

    China needs to diversify its reserves away from the dollar. Gold fits the bill better than GBP, EUR or JPY.

    I predict China will over-take India soon enough. I am surprised it hasn't already.
    Jul 27 05:10 AM | 5 Likes Like |Link to Comment
  • $20 Oil by Year's End? [View article]
    Crude at $20? Never going to happen. Never in a gazillion years. Not that supply would last that long anyway.
    Jul 19 03:56 AM | 5 Likes Like |Link to Comment
  • Jobless Recovery: Fasten Your Seatbelts [View article]
    Recessions caused by a financial crisis are longer and deeper than 'usual' recessions. Also unemployment stays worse for longer as the financial crisis damages industry's ability to borrow and re-finance its way through a recession therefore it stays in the doldrums for longer cutting jobs deeper into a recession.

    The IMF wrote an excellent and in depth piece on recessions over the last 50 years citing reasons and solutions. I summarised it here on SA some weeks ago but its still relevant:
    Jul 18 04:45 AM | 5 Likes Like |Link to Comment