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Doing The Research Gives You The Answers. Looking for Disruptive Technology And Comeback Stories. Finding Overhyped Situations.
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  • It's Christmas-New Years Week: Everything Old Is New Again

    Funny how the holidays lulls many into thinking that they should take it easy. Truth be told, everyone is working today. Whether it is delivering gifts or doing the cocktail chit chat, all good traders are watching what is popular both with kids and adults. The best article I did not read until today was from the Economist. Here is an excerpt:

    "AS NEW YEAR approached a century ago, most people in the West looked forward to 1914 with optimism. The hundred years since the Battle of Waterloo had not been entirely free of disaster-there had been a horrific civil war in America, some regional scraps in Asia, the Franco-Prussian war and the occasional colonial calamity. But continental peace had prevailed. Globalisation and new technology-the telephone, the steamship, the train-had knitted the world together. John Maynard Keynes has a wonderful image of a Londoner of the time, "sipping his morning tea in bed" and ordering "the various products of the whole earth to his door, much as he might today from Amazon-and regarding this state of affairs as "normal, certain and permanent, except in the direction of further improvement". The Londoner might well have had by his bedside table a copy of Norman Angell's "The Great Illusion", which laid out the argument that Europe's economies were so integrated that war was futile.Yet within a year, the world was embroiled in a most horrific war. It cost 9m lives-and many times that number if you take in the various geopolitical tragedies it left in its wake, from the creation of Soviet Russia to the too-casual redrawing of Middle Eastern borders and the rise of Hitler. From being a friend of freedom, technology became an agent of brutality, slaughtering and enslaving people on a terrifying scale. Barriers shot up around the world, especially during the Great Depression of the 1930s. The globalisation that Keynes's Londoner enjoyed only really began again in 1945-or, some would argue, in the 1990s, when eastern Europe was set free and Deng Xiaoping's reforms began bearing fruit in China."

    If you haven't read the article, I highly recommend it. While the Fed lulls us all into a sense of surreal security, something could be brewing which is much more possible than anyone currently sees as plausible.

    Dec 29 6:54 AM | Link | Comment!
  • Benjamin Graham Quotes

    Few people loom as large in the history of investing as Benjamin Graham. Graham is known as the Godfather of modern investing, and his books Security Analysis and The Intelligent Investor are considered bibles for investors. He gave birth to the idea of value investing that's led people like Warren Buffett and Walter Schloss to tremendous wealth, and his name continues to be pointed to by some of the best stock pickers in history. So, without further ado, here are some of the best quotations from legendary value investor Benjamin Graham.

    "To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks."

    "If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume."

    "To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks."

    "If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume."

    "Individuals who cannot master their emotions are ill-suited to profit from the investment process."

    "The investor's chief problem - and even his worst enemy - is likely to be himself."

    "The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate."

    "In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand."

    "Operations for profit should be based not on optimism but on arithmetic."

    "Even the intelligent investor is likely to need considerable willpower to keep from following the crowd."

    " Most of the time stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble … to give way to hope, fear and greed."

    "It is absurd to think that the general public can ever make money out of market forecasts."

    "Wall Street people learn nothing and forget everything."

    "A typical investor has a great advantage over the large institutions."

    "The individual investor should act consistently as an investor and not as a speculator. This means... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase."

    "I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high."

    "I don't believe any of us have the pretension of believing that by being very good analysts, or by going through very elaborate computations, we can be pretty sure of the correctness of our results."

    - See more at: www.equities.com/editors-desk/personal-f....dpuf

    Dec 17 3:36 AM | Link | Comment!
  • Tulips Or Gold? Bitcoin: Norway Calls It An Asset As JPMorgan Files Patent

    This excerpt from theverge.com continues to add confusion and intrigue into the Bitcoin phenomena: "Governments worldwide are trying to solidify their positions on Bitcoin. Chinese regulators banned financial institutions from using Bitcoin earlier this month, while in July, Thailand's government declared the virtual currency's use illegal due to a lack of applicable laws. Now Bitcoin has taken another hit to its legitimacy: Norway - Scandinavia's richest nation - has said that the currency doesn't qualify as real money.

    Norway's director general of taxation, Hans Christian Holte, said the currency "doesn't fall under the usual definition of money." The Norwegian government instead decreed Bitcoin to be an asset upon which capital gains tax can be charged. Bloomberg says profits from Bitcoin will fall under the wealth tax, and that losses can be deducted. Holte also said there will be a 25 percent sales tax for businesses. For now the new rules will apply to Norwegian Kristoffer Koch, whose $27 investment in the fledgling currency was worth $886,000 in October, but his home country's decision may not be final: Holte is reportedly planning to work with other nations to work out the legalities of the new currency." And AtlanticMonthly takes their stab at explaining Bitcoin with graphs and text to explain it like this:

    (click to enlarge)We think this raging virtual currency and all the excitement around it deserves some further research. Please let us know your thoughts as we dig into it.

    Dec 16 3:57 AM | Link | Comment!
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