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  • Load factor drops sharply for Copa Holdings  [View news story]
    Another inflammatory title to alarm readers. Don't you have anything good to work on?
    Jun 12, 2015. 08:15 AM | 2 Likes Like |Link to Comment
  • IBM Continues To Deteriorate  [View article]
    In an article earlier today about sharply increasing contracts to exploit Watson technology for many new and developing businesses, I was surprised and impressed to see that 40,000 such clients (including many small and recently developed enterprises) are paying for Watson to analyze customer attitudes and expectations. While I acknowledge that the stock price still suffers -- in part because of articles such as this -- the trend toward new industries and new dimensions of current business practices that need big data analytical processing could make IBM dominant again. That's what I'm betting on ... Long IBM
    Jun 11, 2015. 10:44 AM | 9 Likes Like |Link to Comment
  • Heinz Bonds - An Example Of What Is Wrong With The Rating Agencies  [View article]
    I was not familiar with criteria for credit ratings, so this was an interesting and helpful posting. I share your sense that Berkshire Hathaway's being behind Heinz should carry a lot of weight.
    Jun 11, 2015. 06:15 AM | 4 Likes Like |Link to Comment
  • SBIO: A Safe Play In Biotechnology?  [View article]
    As always, I admire and enjoy your articles, and believe that you are doing the SA community an important service through your research and perspectives. As I am long BBC, BBP, and SBIO, I want to offer an observation. While you describe SBIO as "an alternative to the BioShares ETFs BBC and BBP," I suggest that they can also be seen as complementing each other.

    BBC and SBIO share only two stocks in their top tens, BBC has fewer holdings than SBIO in medium and small companies, but more than twice as many in microcaps. BBP shares only four holdings with SBIO in their top tens, has more than 10% of its holdings in giant and large companies while SBIO has none, has many fewer small-company holdings than SBIO, and they hold fairly similar percentages of medium-sized and micro-sized companies. The dissimilarities led me to invest in all three.
    Jun 10, 2015. 04:08 PM | Likes Like |Link to Comment
  • Here Is Why I Am Buying Exxon Mobil And Selling Statoil  [View article]
    I liked your last article much better than this one. Nothing you have written makes Exxon seem like a buy, and nothing you have said about Statoil makes a case for shorting it. Overall, you've expressed a preference -- as is your privilege.
    Jun 10, 2015. 10:39 AM | 4 Likes Like |Link to Comment
  • The Bank Of Nova Scotia Appears Undervalued With Solid Growth Catalysts  [View article]
    A good article and a good bank -- thanks for the articulate and balanced assessment.
    Jun 9, 2015. 08:12 AM | 1 Like Like |Link to Comment
  • Chicago's Downgrade: What Investors Need To Know  [View article]
    I appreciate the nicely organized and well-written assessment and recommendation to avoid broad-brush conclusions in this very informative and helpful posting.
    Jun 8, 2015. 08:14 AM | 3 Likes Like |Link to Comment
  • This High Dividend Stock Will Grow Revenue By 85%-Plus, Yields 7-8%, And Goes Ex-Dividend This Week  [View article]
    Random Logic --

    I share your concern. WILN has negative free cash flow, a trailing P/E of 296.1, and a 7% dividend / 1677% payment ratio. (LTM's dividends/share divided by LTM's earnings /share).
    Jun 7, 2015. 07:28 AM | 4 Likes Like |Link to Comment
  • Macquarie Infrastructure Moves From Strength To Strength  [View article]
    In the trial portfolio I put into Seeking Alpha, MIC is listed as having Cash Flow of
    1,163 Million and Free Cash Flow of - 1,123 M ("cash flow from operations minus purchase of plant, property, and equipment, minus payment of cash dividends. Data taken from the latest annual report."
    Jun 6, 2015. 12:48 PM | 2 Likes Like |Link to Comment
  • Macquarie Infrastructure Moves From Strength To Strength  [View article]
    I am interested in infrastructure companies and enjoyed reading your article about Macquarie. Some background checking in a SA portfolio and on FastGraphs leaves me unlikely to buy MIC shares in spite of several good things that you have noted. My biggest concerns are debt (20 times more debt than cash and equivalents), negative free cash flow, a "normal" P/E of 58.3, and a PEG ratio of 71.58. I wish you well in your investing and realize that I might be passing up a good, long-term holding.
    Jun 5, 2015. 12:07 PM | 2 Likes Like |Link to Comment
  • Margin Debt: What Does History Say About New Highs And Stock Returns?  [View article]
    I appreciate the work and clearness of expression that characterize this interesting and helpful posting that argues against quick and simplistic judgments of market dynamics. Because the United States in particular and the world in general face unique issues and pressures, it is challenging to assess market stability using some traditional standards.
    Jun 3, 2015. 11:48 AM | 3 Likes Like |Link to Comment
  • Bank Of Nova Scotia: Domestic Shines But Execution Needed On International  [View article]
    "I would get more positive on the story once there is evidence of stabilization in Latin America." I hope that you're patient. Many good things have happened in Latin America during my lifetime, but "stabilization" hasn't taken place and seems unlikely to occur. BNS has done beautifully in challenging circumstances even if it has not reached your lofty and amusing standards.
    Jun 1, 2015. 06:03 AM | 6 Likes Like |Link to Comment
  • Investment Strategy Outlook May 2015  [View article]
    By many measures, there is substantial pessimism and relatively muted optimism. Thus, one of the article's postulates, "Lack of pessimism is morphing into outright investor optimism" is invalid -- undermining the thrust of the whole piece.
    May 31, 2015. 12:26 PM | Likes Like |Link to Comment
  • CIBC: Wholesale Saved The Day  [View article]
    Canadian banks have come through a challenging period surprisingly well this quarter and their outlook, in my opinion, is good. I disagree with your pessimistic outlook and do not understand your conclusion's bizarre metaphor: "As the Canadian economy continues to grind through a weak resource tape ..."

    May 31, 2015. 05:50 AM | 1 Like Like |Link to Comment
  • National Bank Of Canada Beat On Strong Capital Market  [View article]
    it seems odd to post an article stating in which Canadian banks someone would prefer to invest when he states that he has not invested in them and has no plans to do so. Perhaps Seeking Alpha could post such a disclaimer at the top of the article to give the reader fair warning.
    May 30, 2015. 01:44 PM | Likes Like |Link to Comment