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  • American Realty Capital: Death By A Thousand Cuts [View article]
    Class action lawsuits, by shareholders suing the company, are pointless. You are suing yourself. It's the same as if 90% of Americans were to sue the US Government. The only result is that lawyers make money.

    Suing executives personally is a different story however.
    Dec 19, 2014. 12:29 PM | 29 Likes Like |Link to Comment
  • Busting Medbox [View article]
    I should warn you against short selling even if you believe a stock is doomed. For day trading it is okay if you can borrow shares for free or cheap, but overnight shorts charge you borrowing fees that can easily exceed 25% APR. Also most of these scam companies are familiar with how to squeeze short positions using market manipulation strategies like pump and dump or announcing huge stock dividends. Would you have wanted to be short MDBX Jan 6-7, 2014 when the price doubled? I'm sure Citron knew it was a scam before that, but shorting would have been a disaster.

    It is much more difficult to make a profitable short trade with 1 month hold time than a long trade. The odds are stacked against short traders. It is better to just avoid scam companies.
    Feb 19, 2014. 01:48 PM | 5 Likes Like |Link to Comment
  • StoneMor: With Dividend At Risk, Shares Could Fall Sharply [View article]
    Yes totally different business models, but WHX and STON do share one characteristic; they both have a dividend that is unsustainable.

    With WHX the realization that the dividend would eventually be cut caused the price drop.
    With STON a large price drop could actually cause the dividend cut since STON relies on the issuance of new equity (and debt) to fund the dividend.

    But the author's point is the price drop can (and probably will) precede the cut.
    Aug 12, 2013. 12:58 PM | 3 Likes Like |Link to Comment
  • American Realty Capital Properties: What To Do About Cole Capital... [View article]
    "the only reason Cole was successful with aggregating assets and completing fill liquidity events was because ARCP was always there waiting."

    I'm not sure what you mean by this statement. To my knowledge Cole has never had a liquidity event selling to ARCP.
    Cole Credit Property Trust II -- Spirit Realty (SRC)
    Cole Credit Property Trust III became publicly listed as COLE.
    Cole Corporate Income Trust -- Select Income REIT (SIR)

    The COLE listing was often mistakenly referred to as an IPO, but really it was just a listing. It was later acquired by ARCP, but that was not a liquidity event, as it was already liquid.
    Jan 12, 2015. 10:43 AM | 2 Likes Like |Link to Comment
  • StoneMor Partners: My Reason For Selling This 10% Payout MLP [View article]
    Have you not been following Stonemor for the last few years? Articles exactly like this one have existed for many years. Please read some more articles on MLP's to understand. Stonemor, like all MLP's, can continue to pay dividends greater than free cash flows for as long as the capital markets are willing to buy more shares, which is indefinitely.

    That having been said, I wouldn't own STON either. But you are wrong about, "At some time in the near future, cash flow and unit payout must meet."

    This statement should read:
    "At some time in the far distant future, cash flow and unit payout must meet. But if STON loses popularity with capital markets, that could happen in a matter of just a few months."
    Jun 19, 2014. 07:05 PM | 2 Likes Like |Link to Comment
  • The Fed's got it right. Data going back to 1962 shows the 10-year Treasury yield is far more correlated with core CPI than it is with the headline rate, notes Matt Busigin. Since 1986, the Treasury/core rate correlation is even higher, getting pretty close to 1. The data also gives truth to the argument that energy and food price shocks (which affect the headline) are deflationary[View news story]
    Inflation is deflationary! You are blowing my mind...

    Are you saying that price increases in energy and food are a leading indicator to deflation or what?
    Aug 20, 2012. 03:21 PM | 2 Likes Like |Link to Comment
  • Tesla's Troubling Risk-Reward Profile [View article]
    "coal smoke and mirrors" -- Hahahaha, nice jab at EV. John, it's amazing you have the fortitude to continue writing intellectual articles with 80% of the comments completely ignoring your analysis... or analysis in general.

    I would be happy to leave Tesla alone, except they're part of the faux-environmentalism corporate lobby that is draining tax dollars to pay for toys for the ultra rich.

    Stop the tax credits and incentives, and I will be happy to let Tesla (and the solar companies) live in peace for as long as they can delude themselves.
    Jun 7, 2012. 04:51 PM | 2 Likes Like |Link to Comment
  • A Scandal That Should Shock Nobody [View article]
    I would invite you to compare Cole 3 to a publicly traded competitor from 2011-2013, investing in the same types of triple-net properties. Also look at WP Carey's track record on their non-traded REITs. I believe it beats out whatever REIT index you compare it to.

    But to your credit, the upfront 10%-13% load is too high. (I haven't seen any at 15%.) FINRA and the non-traded REIT players are working on a more transparent and more level-load investment vehicle, which should be better for clients going forward, 2016 and beyond.
    Nov 21, 2014. 11:47 PM | 1 Like Like |Link to Comment
  • Why Cisco Is Ridiculously Underpriced [View article]
    Why are people impressed with 3% dividends?
    Apr 1, 2014. 10:33 AM | 1 Like Like |Link to Comment
  • Will The U.S. Default? An Introduction To Sovereign Default Risk [View article]
    Would you explain this comment in laymen terms? Also would you explain why Taiwan and Singapore are not suitable counterparties for China risk? Is it the geographical closeness, or related to China's desire to take over Taiwan or what? Thanks.
    Sep 13, 2013. 12:26 PM | 1 Like Like |Link to Comment
  • Bill Gross's Dreadful Analysis Of The U.S. Economy's 'Wounded Heart' [View article]
    I have to agree strongly with point #1. The complaint banks are making is not the lack of risk premium, but the lack of RISK-FREE PREMIUM. They are used to buying 3-12 month T-bills and paying deposits 25 basis points lower. They can't do that anymore since 3-month T-bills are yielding 5 basis points and 12 months are yielding 14 bp. So their risk-free spread is approximately nothing. Now they have to actually make loans or buy riskfull bonds to make a spread.
    Jun 19, 2013. 01:04 PM | 1 Like Like |Link to Comment
  • More from Grantham: Courtesy of the donkey-beatings, all global assets are once again becoming overpriced, but not uniformly so. Pockets of value can be found in emerging markets (EEM) and Japan (DXJ), and the great global franchise companies. Much of everything else is "brutally overpriced," with U.S. stocks selling at an implied negative 7-year imputed return ... As for fixed income - fugetaboutit!." [View news story]
    Would you explain what a "implied negative 7-year imputed return" on stocks means?
    Feb 7, 2013. 11:11 AM | 1 Like Like |Link to Comment
  • Annaly Capital - The Slippery Slope Continues [View article]
    Even someone who types with CAP-LOCK on can be clever in online forums.
    Nov 16, 2012. 12:46 PM | 1 Like Like |Link to Comment
  • At The Fed, Will Pride Precede A Fall (In Treasury Bonds)? [View article]
    If you put on a short trade of TLT for years, you're pretty much guaranteed to get your borrowed shares pulled before you want to cover. You need to think of a better way to short treasuries than shorting TLT. An article that was written about the same time as yours suggests buying gold or silver, which I don't love, but at least you can't get a forced buy-in. Buying a put on TLT will rock your wallet (in a bad way) if you get the time frame wrong. Shorting a call might work but will require huge margin and very limited gains. So I'm inclined to say that buying inflation hedges may be a better long-term trade than shorting anything indefinitely.
    Nov 9, 2012. 12:27 AM | 1 Like Like |Link to Comment
  • Enduro Royalty Trust Should Be In Your Portfolio [View article]
    Anybody know if NDRO will be able to recover if oil prices come back to 60+ ?
    Jan 29, 2015. 11:01 AM | Likes Like |Link to Comment