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  • Cuba: A New Economic Opportunity [View article]
    Couldn't agree more, sphereless. Entire continents, North America, Australia etc stolen and history books eulogise licensed land grabbers. Are historians paid to write the story ?
    Mar 11, 2015. 07:15 PM | Likes Like |Link to Comment
  • Royal Bank Of Canada: 3 Strong Reasons To Buy [View article]
    Whether CMHC covered loans are sub-prime or otherwise is a matter of perspective. I believe they are since CMHC is basically telling the banks to dilute their lending standards and collect the cheque if the borrower defaults, turning what is a risk based asset into a certificate of deposit for the banks.The big question is political. If push comes to shove, will the financial damage be borne wholly by the taxpayer or will the banks, having been beneficiaries of these loans, asked to share the burden of default.
    Jan 24, 2015. 09:04 PM | 1 Like Like |Link to Comment
  • Paulson & Co.'s Ideas That Are Most And Least Likely To Outperform [View article]
    Insightful piece. Look forward to more contributions.
    Sep 27, 2014. 11:43 AM | Likes Like |Link to Comment
  • The Greatest Danger For Stock Investors Today [View article]
    Brilliant piece Eric, as always.

    Read in conjunction with Lawrence's equally valuable insights, I would say the Fed is signalling a key message: taper your equity exposure. Monetary stimulus did not produce the classical response, ie declining interest rates failed to generate investment into productive assets since what afflicts the economy is structural and not cyclical. The extreme concentration of liquidity into equities flowing from monetary intervention should now reverse and market forces will re-balance investment flows into asset classes based on risk-return trade-offs and sustainability. For myself, the upside from here offers modest gains versus the potential damage from a sharp or moderate correction, I am keeping my portfolio at 50% cash since I can accept the loss of a 10% upside against a potential 30% hit to my savings.
    Mar 23, 2014. 08:28 AM | Likes Like |Link to Comment
  • DryShips: I'm Going From Bearish To Bullish [View article]
    Quite a departure from a recommended entry price of about 2.75 in an earlier article. Does that represent increased confidence in management or a play leveraged on the Baltic index ?
    Mar 21, 2014. 07:08 PM | 1 Like Like |Link to Comment
  • Emerging Market Banking Crises Are Next [View article]
    Superb analysis.
    So, China is forced to sink the yuan to sustain exports partly in response to improving US competitiveness which triggers a currency war between EM as they scramble to protect market shares in global trade and stabilize their external accounts.
    Shouldn't US equity markets, among other asset classes, become collateral beneficiaries of capital flight to the US$ with any systemic risks offset by the Fed's capacity to manipulate monetary policy to stave off the day of reckoning ?
    Mar 3, 2014. 01:32 AM | Likes Like |Link to Comment
  • I'll Buy DryShips At $2.80 Or Lower [View article]
    Since shareholders have been shafted historically, valuation is of little use in predicting price bands. I concur with the Raven's deep discount to market stance; at least the hit, if any, will be contained while gains can only be a bonus.
    Jan 30, 2014. 06:14 PM | 2 Likes Like |Link to Comment