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  • 3D Systems Is The Phil Ivey Of 3-D Printing, Versatile And Smarter Than $26 Bears [View article]
    At the end of the day, DDD is still the 500 pound Gorilla in its industry.
    Mar 24 09:25 PM | 2 Likes Like |Link to Comment
  • Russia's Gazprom, European Energy And U.S. Oil And Shale Gas: Shorting Russia? [View article]
    "An insane proposition from the risk/return profile."

    From a longer term perspective, do you really believe the West can resolve its differences with Russia? Even though Gazprom looks attractive on paper right now, will it remain this way down the road after a significant amount of effort is put into weaning Europe off Russian gas? Of course this will take time but it will be inevitable as long as the West remains in conflict with Russia. All of a sudden, this isn't such an insane proposition is it?
    Mar 24 09:17 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "it's difficult to comprehend the amount of materials and personnel required to support the troops and ongoing operations."

    I'm seeing expense here, not value creation. As for war being "big business", this doesn't mean much at all when it doesn't benefit the US. Just look at how much of the business are outsourced.
    Mar 24 08:54 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I'd also consider Windows 7 to be fairly successful. Vista and Windows 8 on the other hand were clearly just cash cows. The ol' pump and dump.
    Mar 24 08:48 PM | 1 Like Like |Link to Comment
  • India Set To Import Twice As Much Gold [View article]
    "Premiums have soared to more than 20%. But I expect these premiums to come back down to the 10% level as imports double from the current level."

    If the premiums soared to more than 20% due to the artificially depressed prices by ETF selling, why would the premiums decline from an increase in imports? And no, I don't think I'll be bracing myself for a rise in the questionable paper gold fund, GLD. I'd much rather directly invest in physical gold.

    “Did anyone try calling the GLD hotline at 866-320-4053 and asking for any numerical details on GLD's insurance? I reached a State Street representative that told me to look at the prospectus but I am sure the prospectus doesn't give any numbers or percentages to how much of GLD's physical gold is insured.

    The prospectus only vaguely mentions HSBC holding some kind of insurance policy for GLD. This State Street representative proceeded to feign ignorance when informed of this and said they were just the "marketing agent" for GLD. What kind of marketing agent doesn't know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors.

    There are not many ways for the average investor to verify GLD's physical assets since most retail investors won't even have the right to redeem their shares for physical bullions. The prospectus is full of legal writing protecting GLD organizations from any liabilities but not a single clause to protect investors from bullion lending.

    On top of everything, the GLD manager - State Street, has been shown to be less than trustworthy (Carina CDO, multiple instances of forex fraud). Where is the credibility in GLD?"
    Mar 24 08:38 PM | 3 Likes Like |Link to Comment
  • After The Sell-Off: A Bright Spot For Gold [View article]
    I'd keep an eye on the physical premiums as they go against the prices set in the West.
    Mar 24 08:03 PM | Likes Like |Link to Comment
  • James River Coal Fighting A Losing Battle With Time [View article]
    Unfortunately, if coal prices don't recovery in times like this, I feel the prices don't have much of a chance at recovery in 2015/2016. JRCC will need to do more than pull out a few rabbits out of its hat at this point.
    Jan 9 08:51 PM | 1 Like Like |Link to Comment
  • 2014 Biotechnology Catalysts [View article]
    Hetlioz is absolutely critical for VNDA and the FDA. I'll be keeping my ears close to the ground for this one.
    Jan 9 08:47 PM | Likes Like |Link to Comment
  • 3 Lessons Learned In 2013 From ETF Fund Flows [View article]
    "but strong evidence of the stability of the ETP structure was provided in 2013."

    There have also been strong evidence to the contrary. Namely when CNBC had Bob Pisani visit the GLD vaults to prove gold was actually there. This visit turned out to be a huge red flag when the gold bar held up by Bob Pisani had the serial number ZJ6752 and did not appear on the most recent bar list at that time (dated Aug 31). Zero Hedge who first noticed this also mentioned that the GLD tonnage was relatively flat over the previous weeks so its very unlikely that many bars have been removed up to the time of the visit.

    "In any event, shortly afterwards people noticed that the gold bar he held up on air actually wasn’t even on GLD’s gold bar list. But wait it gets even better. It seems that Ned Naylor-Leyland of Cheviot Asset Management has discovered that the famous Pisani GLD bar was actually owned by another gold ETF! Yes folks, fractional reserve gold investing. I’ve said it before and I’ll say it again. You’d have to be a complete fool or totally irresponsible to own GLD as a money manager or investor."

    "17,766,650 ounces of gold exited the vaults of GLD in 2013. In just one week in April, 1,503,272 ounces was pulled out. All the while GLD traded without interruption or a significant premium or discount."

    At these levels, hard to imagine why there would be a significant premium or discount. As for the interruption, I would like to point towards who would have the authority to interrupt GLD trading and if this is beneficial to that party.
    Jan 9 08:42 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    There is no excuse for the underlying fiscal mismanagement that brought Detroit to where it is today but overall, you're right. The whole thing was dramatized for political points from day 1. Eventually, Detroit will recover.
    Dec 16 09:00 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I was surprised that the Heinz layoffs didn't make it on the list. It was the first thing that caught my eye this morning.
    Aug 14 08:25 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I don't see how BBRY going private will solve any of their problems. Their problem is how they cannot offer anything over their entrenched competitors. If they can't fix this now, they won't be able to fix it when they go private.
    Aug 9 10:34 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I'm convinced none of these 'investigations' will actually go anywhere as they never have in the past. They are just for show to appease the public. Money talks and crime pays.
    Aug 9 10:31 AM | 3 Likes Like |Link to Comment
  • What Buffett Premium? [View article]
    Yes, this is the crux of why many including myself are hesitant to dive into BRK. I still feel BRK's success is heavily tied to Buffet regardless of everything stated in this article.
    Aug 9 10:28 AM | Likes Like |Link to Comment
  • Is Gold Just Another Metals ETF? [View article]
    "would a gold ETF be more desirable or less desirable?"

    How about a third option: neither. Physical gold has thousands of years of history to pad its credibility. What does a mystery paper fund like GLD have? No options of redemption for retail investors and some very sketchy insurance:

    “Did anyone try reaching out to State Street Global Advisors to ask if GLD's physical assets are insured? I've personally called them at 866-320-4053 and asked about the state of GLD's insurance. They said that there is no insurance but also claimed that HSBC bank do have insurance policies for GLD. I could not get them to elaborate on this 'claim'.

    There are not many ways for the average investor to validate GLD's physical assets. Even the prospectus is full of legal writing removing liability. On top of everything, the GLD manager - State Street, has been shown to be less than trustworthy (Carina CDO, multiple instances of forex fraud). Where is the credibility in GLD?"

    Insurance is just one of its weaknesses. I doubt that there is insurance on the gold stash, for it would open a can of worms that State Street would avoid. The insurer, of course, would want to know about safety, access, audits, claims on it, etc to even come up with a premium for the insurance. Now, State Street would never accept such intrusion, in part because the gold stash is probably used for all kinds of shady purposes, including backing shorts.

    Just read the part in GLD's prospectus where the custodian subcontracts to subcustodians but has no right to audit or visit the subcustodians' vaults. It then requires third-party audits. So we can have the custodian own or pay off the third-party auditor to give a clean audit, while knowing that the subcustodian leases out the gold into the market.

    If GLD shareholders suspect so and ask custodian to prove otherwise, custodian can simply say "we have no right to check the subcustodians, see the pospectus, but here is a clean audit result" however laughably compromised.

    If GLD or State Street goes bust, no holder of GLD has any claim to any gold. GLD holders simply become unsecured creditors along with all other creditors, with no precedence in bankruptcy court.
    Aug 9 10:14 AM | 1 Like Like |Link to Comment
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87 Comments
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