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  • House, Senate agree on long-term highway bill, reauthorizing Ex-Im Bank  [View news story]

    Dec 4, 2015. 09:30 PM | Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]
    ken ff

    While the US is crazy from the point of our national debt.

    We have two main things going for the USA.

    1] The land the US government owns can clearly be sold to cover the whole debt.

    Now some loonies on SA will complain I want to sell old faithful.

    2] there are not many places on the planet where the USD is not taken.
    When I was in high school my classmate asked why everyone in the world wanted the dollar.
    The teacher who was an immigrant said
    "Because this is the only country in the world where The flag is guaranteed to go up the flag pole tomorrow morning" he then said " Gentlemen many of you will travel to foreign countries and I will assure that upon return you will want to get on your knees and kiss the ground"
    Dec 4, 2015. 04:50 PM | 3 Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]
    Jason B

    The problem is they never made any rules or regulations to address the problem.
    The funny thing is that 250k of people did wire/fraud by signing documents with ghost assets and they actual committed a crime and the AGs looked the other way.

    People ask why then did the banks pay 130bil in fines. I will use an example from a class at NYIF, look at a check the banks were required to
    look at the endorsement both front or back depending on whether the customer was the depositor or the payer.
    The head of manufactures trust paying and receiving said for the bank to follow the rules it would cost 200 million to follow the law. It only cost him 85 million in check fraud. So they never followed the letter of the law.
    It was a monetary decision.
    Dec 4, 2015. 02:36 PM | Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]

    I know you know it but don't look at the percentage of the preferred look at the yield number to call and to maturity. Again look at his pfd. it has a rate of 6.65% but if bought today it's yield in under 4%.

    I wonder how many people voted for Obama because he said he would get the ACA passed. I also wonder how many like yourself is being screwed by it. The only good that came out of it are the people with previous problems
    and could not get reasonable insurance.

    I always had insurance but in 1996 I had malignant cancer that Cigna paid 350k for. I was told at that time the coverage would cost me 1500 a month just for me and that's 20 years ago so for those folks it's a win

    Dec 4, 2015. 02:22 PM | 1 Like Like |Link to Comment
  • Regulators set out new rules for SIFIs  [View news story]
    hopeful 17

    one thing I did well was, I took care of my men. With that, they took care of me.,
    that shows you new how to lead.

    The incident you mentioned was shameful and criminal. Folks can have strong disagreements, and they may not appreciate their Commanding Officer for good reason, but they need to find another method to "out" him

    As I was told he was reported to the Major and nothing was done.
    I usually do not condone violence however when the authorities have been told and do nothing then you fix the problem. Being of part Irish decent I would have voted for the sticks as they say in Ireland. You blow out a knee cap and he gets a one way ticket to the VA.

    You might also get a chuckle of this. My cousin who was also a medic got called back to serve 2 weeks of reserve duty in 1972 up at camp drum. Why he got called up I have no clue but to say he was p/o is an understatement.
    They put him as the front man of the dispensary. In walks two guys one in uniform an e7 and one in civvies and both were armed. He told them to either leave or relinquish their weapons. The though him to be a reservist and not someone who did three years active duty. they blew him off. He called the MPs and told them to arrest the two. The MP's know these two guys so they call the provost marshal office for help. In walks a Lt. Col. who also is a lieutenant in the NYPD. He tells the MPS to lock up the two guys and then called the JAG office.
    My cousin goes over to see both the Post provost marshal and the Head Jag officer who are both colonels. He says to them under military regulations a member of the medical corps out ranks everyone while in the medical facility and as such these two men did not follow a lawful order. he then says. If they get his orders changed to leave tomorrow instead of 10 days from then when his reserve tour is over he will drop the charges. The next day he was on the bus for Syracuse and a plane to NYC.
    What was really funny was the Lt Col was also our cousin but from the older generation. He was also Popeye Doyle commanding officer of French Connection fame.

    I read Thorp's "Beat The Dealer" in the summer of 63 while in college.
    I was told about the theory of Thorp in 1967 during calculus class at Baruch.
    I had no real interest at that time. Later I realized some of his number ideas can be applied to trading in a weird way both in arbitrage and short positions.

    You said you had a roth therefore you a not subject to tax holding requirements.
    If you apply your trading to a hand of cards mentality you notice that for certain stocks you could day trade (under 5 DAYS holding the security) with minimal risk
    and make $50-100 per round trip
    I will use GE and Schwab commission schedule as an example
    Assume you bought 300 GE on the opening today at 30.07 your cost would be $9030
    you just sold it at 30.44 the present bid price as I type you would receive $9120 or $90 for doing the day trade. Now the $90 equal roughly 1% do that and you could make 25%+ on your money.

    If after you buy you see something that will lower the market you fold and look at a new hand possibility.

    If you have the time + risk tolerance+ do the math + the cash + discipline. you will always win long term.
    Dec 4, 2015. 01:29 PM | Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]
    ri Jensen

    The theory is as rates rise the price of pfd goes down.
    take the pfd that 22960481 owns .
    He has a 10/1/17 call date which we know the price will be 25
    assuming no rate increases he will lose $180between now and 10/1/17.
    he is comforted by the fact he will receive $290 dividends
    As rates rise his premium will decrease faster.
    if you bought this pfd today you would be getting less than 4% as you would lose an additional 180 when its called in 10/17.
    The other possible problem is that some indentures have an immediate call feature should taxes treatment changes.
    In the worse case scenario you buy today at 26.89 and receive 25 on 1/15/16 because congress passed a change that be came effective 12/31/15.
    Now that's far fetched with our congress however you need to know what
    your buying when it come to debt instruments.

    Dec 4, 2015. 12:15 PM | Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]

    I can see that you did well.
    Just doing ball park figures if you hold till 10 1/17 with 100 shares
    you receive about 290 in dividends + 100 capital gain.
    you would have 2500 par + 290 div + any interest earned on the 290 div.
    basically 2790 or say 2800
    your other choice is sell today get 2689- commission I use Schwab as an example $9commission your net would be 2680.
    the difference is 120
    Since you have 7 dividend period ahead for the new stock you would need only 4% div to win.
    the risk reward is in your favor as the new stock has a potential of capital gains over the next two years which you do not have holding the pfd.
    it all depends on your risk tolerance
    good luck in either case.
    Dec 4, 2015. 10:20 AM | 1 Like Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]
    fun fun

    When I saw the title of this article I thought of you. I decided to read the article to see if you made a comment. I see you are still cutting and pasting old comments. I also notice that next year the 5 year gains will have BAC near the top of the list.
    Dec 4, 2015. 09:13 AM | 11 Likes Like |Link to Comment
  • Bank Of America: Trust The Numbers, Not The Fools  [View article]
    the 777
    Do you think the counterparty rating effects the stock price?
    Dec 4, 2015. 09:05 AM | 1 Like Like |Link to Comment
  • Immelt: GE focused, balanced, a good bet for investors  [View news story]

    I make over 50k a year trading GE and have for many years.
    My portfolios have on average 8000 shares.

    If you bought GE in 2005 you are underwater while if you bought 2010 you are up 100%. If you buy today and hold to 2020 you have a better chance of being underwater rather than above.

    The industrial sector is one of the most riskiest versus the world economy.
    You can make the best products but you need entities to be able to buy them.

    Immelt has negative numbers since he was promoted in 2001. That's why
    I said he's the poster boy. That you have made money on GE is good and I wish everybody did.

    I also own 3M and Honeywell and Baker Hughes and 200+ additional
    Dec 4, 2015. 08:44 AM | Likes Like |Link to Comment
  • Should General Electric Shareholders Swap For Synchrony?  [View article]

    I have been very lucky in life that I was able to go from a $20 a week part timer at Chase in HS to the point of being very comfortable. For me its the mental challenge today. I try to find the needle in the haystack not to brag but for the self satisfaction. True the money came with it and allowed me to invest in other areas.
    It's like a game, of course you always want to win but you know that is not going to happen. I played basketball and every game was a win for me if the guy I was assigned to didn't score his average number of points regardless of what the scoreboard said.
    Dec 4, 2015. 07:56 AM | Likes Like |Link to Comment
  • Regulators set out new rules for SIFIs  [View news story]
    hopeful 17

    I will finish answering your comment but first.
    you did not answer my questions point by point like I did yours
    second here is an example of dementia
    your question
    Have you learned yet that Texas fought on the side of the South
    where was that referenced in any comment
    did you think you mentioned it before?

    Here is another reference
    14. Where did your sudden interest in Arlene come from?
    You were the one with the interest I only mentioned what I was aware of.

    I can not prove I got 800 but if you looked at my title in banking your friend with the PHD. will tell you it's a job that requires great math skills.
    Also I previously mentioned I went to the US Treasury for my computer skills.

    As to your daughter and your comment of statistics.
    You can look it up and you should
    but neither the generation before the boomers nor the two generations after the boomers had the SAT scores that the boomers had.
    You also know that the math and science grades have been in decline for 35 years.

    My oldest is also a teacher in NY.

    Have you read Fortune's Formula by Poundstone yet? Why Not? Afraid to learn something


    1] In 2005 William Poundstone published Fortune's Formula, a book that took creative license with the name since although the book briefly mentioned Thorp's original paper on blackjack.
    That's the political correct way to say he plagiarized.
    Now I did a stint with Lucent Technology where I read the papers of
    Claude Shannon and John Kelly You do know who they were from Bell Labs
    part of Lucent.
    I also read the papers Edward O Thorp.

    The Army - I previously gave you my MOS however I will expand
    Other than barracks sgt I had no supervisor authority. At my work station
    I was a team member. I assume you know in the Medical Corps. we do no work based on rank just specialty.
    I was at WRAMC and was assigned to EM Team 2 now you can ask your old buddies if you are not aware of it. Now you know how the army works so here is the question why would a draftee be sent to 2 schools and placed on EM Team 2 and promote to staff sgt. all in with in my 24 month tour.

    While I am not a fan of bush2 I think you might go back and re-read the record you might remember Dan Rather was fired for the incorrect statement which you just made.

    I will now give you some history of why my opinion of officers is tainted
    First I do not paint all officers like you do bankers however think of WESTMORELAND. He ordered three the separate search and destroy mission on the a sau valley we took over a thousand casualties and basically got nothing out of it. Now if you read the art of war, Lee's rules of battle or Patton's papers. You never GIVE UP land that you paid for in blood. That was the norm back then. I asked a couple of West Pointers why this was done, when they were taught that was not the way to fight.
    They said you follow orders which I agree however I wish the military had a pair some time.
    You mentioned favorite treatment
    Try this. Look at what the charges were made against both the General and Admiral that were in charge of Pearl Harbor. Then look at what happened 4/5 days later in the Philippines with MacArthur. Who did the exact same thing with different results

    Another question While you were in the Army in early 69 a Captain was "fragged" at Camp Bullis ,TX . have you heard the story?

    He was a southerner and made a group of guys from NYC do extra PT and other jobs because He said they were soft. Well it seems when he got in his car to leave the doors locked so he could not get out and 2 CS gas grenades went off under the seats. He had to break his windshield with his steel pot to get out of the car and spent 6 weeks at Brooke with scorched lungs.
    CID went crazy and to add insult to injury on the day the class left on orders a don't mess with Texas metal sign was placed on the office door
    with Texas crossed out and NYC above.

    Dec 3, 2015. 09:29 PM | Likes Like |Link to Comment
  • Regulators set out new rules for SIFIs  [View news story]

    I can see why you were a captain in the army
    The point of the comment was
    the employee does not have a clue

    Most people have no clue that many small businesses have loan agreements that pays there employees year round

    when I was in the army for a month it was pouring rain and there were 6 to 10 guys out in it with hoses watering the grass.
    I asked the Captain what had those guys done to be out in the rain during
    the heavy rain. He said it was one of the orders of the day. I asked why wasn't the order cancelled to which I was informed you do not countermand the order of the day.
    At that point I realized that many of the officers I would meet never should have gotten out of High School.
    One of the principals I was taught is you see something stupid correct it.
    Dec 3, 2015. 05:30 PM | Likes Like |Link to Comment
  • Regulators set out new rules for SIFIs  [View news story]

    I have to run but I wanted to impart 2 items(I'll answer the rest later)
    1 Are you aware that Bill Russell was and is the greatest Winner and team Player in the 4 major sports in America?

    Russell wins 11 championships
    Y Berra wins 13 world series
    I did comment He was a great player however until you describe the criteria for the other sport I could not agree
    you gave no criteria so I will number of championship
    therefore you were WRONG.

    It's funny your asking about the army as today 12/3 was my exit day in 1970

    E1 upon drafted
    E2 upon finishing basic
    E3 during AIT
    E4 upon graduation from Ft Sam medic
    E5 upon graduation orthopedic/surgery at WRAMC
    E6 upon 1 year anniversary

    As to WWII anyone who replaced Roosevelt and had a pair would have nuked who ever was standing. Yes you are correct that some of the presidents during our lifetime do not have a pair so its a toss up
    Dec 3, 2015. 05:15 PM | Likes Like |Link to Comment
  • Immelt: GE focused, balanced, a good bet for investors  [View news story]

    At this moment Honeywell
    Dec 3, 2015. 04:49 PM | 1 Like Like |Link to Comment