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  • Microsoft Remains A Sound Investment Following Its Latest Earnings [View article]
    clearly you have done your DD. Just trying to drum up some conversation. And thank you for the reply. But I would still like to know what you think MSFT will do with the $50 billion in cash?
    May 9, 2012. 11:01 AM | Likes Like |Link to Comment
  • Microsoft Remains A Sound Investment Following Its Latest Earnings [View article]
    Microsoft recently sold off some its patents. MSFT either thought these patents to be useless, or wanted the extra cash. Does anyone have an opinion of what the "rusting" tech giant can use that money to invest in?

    My thoughts would be geared toward its Bing search engine or the windows phones, but I really can't say.
    Apr 23, 2012. 10:46 PM | Likes Like |Link to Comment
  • PIMCO's CEFs Trading At High Premiums: Is There A PIMCO 'Put'? [View article]
    Great analysis of the PIMCO sponsored CEFs and the fixed income CEF universe for that matter. It would seem that PIMCO is trading at a high premium, and more importantly an undeservedly high premium. I do believe you hit the nail on the head when you speak of PIMCO "being a brand name just like Tide". To a logical investor the reason they would pay up for this fund would be the greater amount of leverage. But, being that the CEF universe has been assumed to be full of "unsophisticated" investors, the leverage factor does not seem the main reason.

    So, the real question is: is the premium sustainable? I would have to say YES baring some catastrophe in the bond market (getting bit by the leverage factor) or inside of PIMCO itself (deteriorating brand name).
    Apr 12, 2012. 02:20 PM | 2 Likes Like |Link to Comment
  • Transocean: A Covered Call Strategy For Generating Over 8% Synthetic Dividends [View article]
    Great article. Very nice job articulating how the gains and losses are actually made, and how to execute. I was wondering if there are any "special" tax considerations with this strategy that would be of concern.
    Would this tax concern factor into the strategy or is it a negligible and necessary occurrence.
    Apr 12, 2012. 02:02 PM | Likes Like |Link to Comment
  • Valero Energy: There Are Fundamental And Technical Reasons To Buy [View article]
    Do you think VLO and other refineries have hedged their position against this crack spread falling? I understand that VLO and others could easily buy the oil futures, but they still have to worry about the other side of the spread. On the opposite side they could write calls of the United States Gasoline Fund (UGA) or buy puts on them. This may involve too much volatility in the pricing of the options, but hey that is the game you play when you are a refinery. So, my question becomes do these refineries have the ability to control or at least manage the risk when the crack spread declines, or do they just have to hope for the best?

    On another note, even with the uncertainty involved in the changing spread VLO does look like a great buy purely because of their ability to use "sour crude"
    Mar 2, 2012. 02:28 PM | 1 Like Like |Link to Comment
  • The Role Of Ethics In Portfolio Construction [View article]
    The best bet for a portfolio manager would to have written guidelines into how you invest and why. If your clients are willing to accept your view of how things should be then they will fork over the cash. if not then you can go somewhere else. However, if these guidelines are not explicitly stated then you run the risk of violating your fiduciary duty and that is when we have a problem.
    Mar 2, 2012. 02:02 PM | 1 Like Like |Link to Comment
  • Greece's Bond Exchange: It's Official [View article]
    I think you may have hit that on the head right there. Your scaring me...but I kinda like it. Pointing out he CFTC is something I didn't even think of well done. #CrowdKnowsBest
    Feb 28, 2012. 06:04 PM | Likes Like |Link to Comment
  • Greece's Bond Exchange: It's Official [View article]
    You mention there will be an issue with the reference security. So, will there be a new batch of CDS hitting markets soon (if the bond tendering occurs)? Or will CDS that reference the current Greek debt be transferred to reference the "to be" newly issued bonds?
    Feb 26, 2012. 11:01 PM | Likes Like |Link to Comment
  • Dell Rallies 25% YTD Ahead Of Critical 4Q Earnings Release On Tuesday [View article]
    J.P Morgan clearly sees something other analysts don't. If Apple is taking a bite out of Dell's market share will the Server sales, cloud solutions, and enterprise market expansion be enough to offset the crunching retail margins? In the article by analysts mention "revenue pruning", does that mean they are trying to get away from retail? This certainly doesn't sound like they are adding much new business. If you are Dell should you leave your roots and bag the individual computer sales business, or fight back at Apple with low-cost cheaper products?
    Feb 21, 2012. 02:30 AM | Likes Like |Link to Comment
  • What Deflates And What Inflates? [View article]
    In the last graph "Motor Fuel", is that gasoline or light sweet crude? I would expect that fruits and vegetables to move more closely with motor fuel. Does anyone think this is because of Government subsidy on agriculture or just the slow turnover for plants and vegetables? In other words I would expect the volatile ups and downs of motor fuel would correlate directly with variability in fruits and vegetables considering motor fuel is an input into these products, one way or another.
    Feb 8, 2012. 12:51 PM | 1 Like Like |Link to Comment