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Markie Mills

Markie Mills
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  • Weighing The Week Ahead: Fluff Or Fundamentals? [View article]
    I haven't read the book yet - but it is on its way to the remotest regions of the planet. I think the biggest issue occurs where there is a breach of trust. There are many instances of organisations "trading against" their clients. I think it is very easy for these organisations to clearly (and blatantly) disclose that this is what they are doing. I'd like to see the market sanitised by sunlight. Using legal language such as "we may . . . " is not proper disclosure IMO.
    Apr 7 12:11 AM | 1 Like Like |Link to Comment
  • Lynas Can't Afford Further Delays [View article]
    I wasn't aware of that - cheers Stephen
    Mar 22 04:49 AM | Likes Like |Link to Comment
  • Lynas Can't Afford Further Delays [View article]
    There is a further contingent risk to holders of securities with an address outside Australia, and that is that if you are outside Australia - you might not qualify for any pro rata secondary issue/capital raising due to cross border legalities and complexities. May not matter - last time they raised capital it was a placement, and existing shareholders didn't get an opportunity anyway.
    Mar 19 10:46 PM | 1 Like Like |Link to Comment
  • Lynas Can't Afford Further Delays [View article]
    BZ - what is your opinion about Sojitz's interest in Lynas - obviously they have financed Lynas with some self interest in mind. Do you think they are not a customer for the reasons you outline?
    Mar 19 10:43 PM | Likes Like |Link to Comment
  • Roach Vs. Pettis (On China) [View article]
    Crimson Cap - ever been to China? - I think crime is out of control there. Can't go anywhere in the cities without scammers approaching you. You can't even buy a cup of tea without making sure of the price in many places. You have to know what you are doing to get around safely in my opinion. Can you trust your taxi driver to take you where you want to go as a westerner? Would you ever call the police if you were in trouble over there?

    There are a lot of people who will conversely go out of their way to assist a westerner as well - i am not saying it is all bad. China is certainly far better off than it has been any time in the past right now.
    Jul 9 11:56 PM | Likes Like |Link to Comment
  • Roach Vs. Pettis (On China) [View article]
    Ben - it is funny - but China is still a big prison. Why don't they allow everybody the right to freedom of association, and freedom to travel. Hard to boost consumption in a giant prison. Banning the medieval Hukou system might be a good start. I think the majority of Chinese people have no prospects at all for anything more than a subsistence existence by today's standards, and the parasites, oops communist party, does not want this to change.
    Jul 9 08:10 AM | Likes Like |Link to Comment
  • Roach Vs. Pettis (On China) [View article]
    So the current Chinese economic cycle is 1. Confiscate land from peasants, 2. Sell the land to property developers, 3. Spend the money at the casino.

    So aren't confiscations, real estate transactions, and gambling all services. China is a services economy already! So what is the problem again?
    Jul 5 08:45 AM | 4 Likes Like |Link to Comment
  • Beware Of Trading Stops [View article]
    Using alarms is possibly better than loading stops into your share trading platform from my experience. Also your stockbroker might have a computer program that can calculate when it is worthwhile gunning your stops for their proprietary trading desk's profits, (or for a shared profit with a third party that is paid to do this, located in a country with a very lax legal system - Russia or China usually). Here in Australia it is legal for stockbrokers and investment bankers to trade against their clients - not sure if the same is the case in the US markets. (I do think the practice should be banned.)
    Apr 24 04:18 AM | 3 Likes Like |Link to Comment
  • Weighing The Week Ahead: Interpreting Mixed Signals [View article]
    Hi Jeff - loved your article. Would have liked to see you mention Gold's fall as either good, bad, or ugly. Not sure which category it should fall into however. ;-)
    Apr 22 02:56 AM | 1 Like Like |Link to Comment
  • World Physical Gold Demand Goes Parabolic [View article]
    For every gold bar bought there is a seller who sold. Transactions have gone up. So why not headline the article - "Supply has gone parabolic". This is equally true. What happens if there are still keen sellers once the current buyers have spent their cash? The total in transactions compared to world reserves is possibly a bucket of water compared to the ocean.
    Apr 20 09:00 PM | 1 Like Like |Link to Comment
  • How Low Can Gold Go? [View article]
    I'm sorry but this article seems outrageously optimistic, and unsoundly based to me. Why can oil fall well below the marginal cost of production - to nearly half in fact - in the GFC, when Gold is magically protected from that occurrence.

    "So in a sense, the absolute bottom for gold is the level required for miners to bring it out of the ground. If gold were to trade below that level, production would stop."
    I seriously doubt it. I don't see any reason that Gold cannot go well below the current marginal cost of production. The stuff is hardly consumed. Extra Gold is sitting in vaults and can be added to the supply on the market at any time, with a much lower cost that for miners. It is not impossible that no miner will be profitably producing Gold, if big holders are liquidating. Miners produce about ballpark 2% new supply. This is a mere flyspec compared to the yearly oil supply in comparison to stored oil. Cost of production is definitely irrelevant short term and possibly medium term too IMO.
    Apr 20 08:51 PM | 1 Like Like |Link to Comment
  • Individual Investors! Get Your Share Of Profits From The Fed [View article]
    Good to have you back Jeff. I enjoy your posts.
    Feb 28 06:58 AM | 1 Like Like |Link to Comment
  • Weighing The Week Ahead: What Lies Beyond The Cliff? [View article]
    This process certainly isn't like watching the mating rituals of pink flamingos, but there do appear to be crocodiles in the water who want to see things end badly.

    The general media here in Australia has, for the first time I am aware of, mentioned that things could be extended for possibly a couple of months without the US hitting the spending brakes. The world may not be about to end after all! Thanks Jeff for your knowledgeable and calm updates, and for skipping the unnecessary sensationalism.
    Dec 30 11:46 PM | 1 Like Like |Link to Comment
  • Fiscal Grand Bargain: Are Spending Cuts And Revenue Increases Both Needed? Part 2 [View article]
    Some options:
    1. Sell Alaska to ??? China or Saudi Arabia or Canada (or sell bits to each). ( ;-) just kidding!)
    2. Seek transparent co contributions (for the US role of international policeman. (Rather than arms related contracts and deals etc). Contributions could be in the form of taking on more of he policing burden in a coordinated fashion rather than cash transactions). Israel especially should pay up.
    3. Target a more beneficial after tax Gini coefficient as part of tax policy to raise economic growth and therefore the tax base.
    4. Goods and Services tax deal with states to increase the efficiency of collection etc.
    5. Energy tax on end users - a relative no brainer. Link it to energy tech and investment.
    6. No allowing the president to forgive tax cheats/underpayers (stop undermining revenue collection by enforcing fair rules for everybody).
    7. A thankyou/acknowledgement letter to tax payers every year. Publish a list of the (say) top 100 tax payers with kind words from the president. Make paying tax a noble thing to be proud of. Mention some of the extra beneficial services that tax collections have made possible etc etc. Facilitate the big tax payers using their evidence of contribution in marketing etc.
    Nov 9 09:39 PM | 4 Likes Like |Link to Comment
  • Which ETFs Performed Best During QE2? [View article]
    I found this article quite enlightening, in that it provides a rationale for how the market may have come to factor in QE2.

    I have to admit that I'm still thinking about it, because at the time I didn't feel that Bernanke provided any new information at Jackson Hole. Maybe I missed the context or nuances.

    Thanks for that Chris
    Sep 13 08:41 AM | Likes Like |Link to Comment
COMMENTS STATS
47 Comments
42 Likes