R. Richard Schweitzer

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152 Comments

    • Fri Apr 25th 08:42 AM | Rating: 0 0
      Commented on:
      Not All Commodities Are Created Equal: A Look At Agriculture
      It does appear that you are saying that "food cost price increases" are not the way to evaluate the trends in prices for foodstuff commodities.

      Omitted are reference to "stockpiles,"... rates of variable consumption (and substitution) as compared to rates of potential increases in production (covered). Still, all in all a very useful discourse - stored for future reference.

      No one seems to follow through on the possibilities of (or opportunities for) investments in land - arable land - in relatively developed productive areas, or in areas that may be re-developed (Kenya, Ghana, etc.) Which are the remaining "Plantation Companies?"
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    • Thu Apr 24th 10:51 AM | Rating: 0 0
      Commented on:
      Bill Miller: Credit Panic Ended With Bear Stearns
      While he may do so for his own functions, as no doubt does Soros, Miller does not publically differentiate those "commodities"... into classes that are affected by distribution (and politics) from those affected by goods produced for consumption (copper, steel, etc.).

      Why Gold is still looked on as a commodity as opposed to its role in monetary matters remains a mystery. Habit?
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    • Wed Apr 23rd 11:33 AM | Rating: 0 0
      Commented on:
      Rail Carrier Trinity Appears Undervalued
      Oh, yes, one should also be aware of RailCar America (RAIL), and the excellent analysis recently by Phillips at 10Q detective.
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    • Wed Apr 23rd 11:31 AM | Rating: 0 0
      Commented on:
      Rail Carrier Trinity Appears Undervalued
      It would be worthwhile to reflect on Peter Drucker's observation back in the 70's that P/E ratios may very well reflect the effects of cost of capital (and the potential for its recovery) to any particular enterprise.

      Drucker wrote that in a critique of "Earning per share."

      The cost of capital varies to every distinct enterprise, affected inter alai by the use (long term depreciable assets, e.g.) to which put, competitive factors (moat width), etc., etc.

      As to Buffett and rails, the "exactly why" may be incomplete. One must consider the particular selection and how it may differ from some of the B-H criteria. Example: What does the rail line haul, to where, for whom, is it changing, and if so, how has it changed its coverages of its cost of capital (vital in rails). In B-H, nothing is as simple as it is pronounced, or perceived, the internal understandings run quite deep.
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    • Wed Apr 23rd 11:14 AM | Rating: 0 0
      Commented on:
      UnitedHealth Group: An Unsustainable Model
      You are right, I think, on the difficulty of combining too many functions to achieve a particular "profit" goal - which is to attain a better than average recovery of "cost of capital." People lose sight of that goal when investing in this type of business.

      This is an activity "without a core," despite Buffett's blessing.
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    • Wed Apr 23rd 11:06 AM | Rating: 0 0
      Commented on:
      Wall Street Breakfast: Must-Know News
      We have to keep in mind, these are summaries, and not analytical reports. He reports on opinions rather opines However, he should be free to opine on the quality of those opinions.
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    • Tue Apr 22nd 09:24 AM | Rating: 0 0
      Commented on:
      Robert Half Int'l: Is It Time To Go 'Half' Way?
      The other one to look at is ASF.

      They are both specialists in staffing, tho RHI is more "diverse" in its offerings.

      ASF has been a "Lab Coats" provider.
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    • Tue Apr 22nd 09:03 AM | Rating: 0 0
      Commented on:
      Arch Coal's Earnings Signal a Silent Bull Market
      And the coal haulers?
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    • Mon Apr 21st 09:04 AM | Rating: 0 0
      Commented on:
      China: More Evidence of Increasing Risks
      Perhaps it has been dealt with elsewhere in this Blogger's writings, but it would help to have some notation or reference to the cost of capital aspect, including in respect to state controlled enterprises (rather than GDP references).

      A comparison of cost of capital to various forms of enterprises with varying ties to the state to the cost of capital in western economies might be quite enlightening.

      This is not a very "transparent"... area. But, from what does show through, it does seem that the cost of capital continues to be lower in China than in the west. As the flow of "new" labor into the markets slackens, and output costs rise (as indicated) that advantage may decline, though not precipitously.
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    • Mon Apr 21st 08:08 AM | Rating: 0 0
      Commented on:
      Zales vs. Peers: Possible Difficulties Ahead
      You write:

      "Investors should note that the to a sale of bloated inventory accounted for 13% of the net income applicable to common shares for 2007."

      What does that mean or intend?

      How inventory and inventory sales are dealt with can be crucial to the Quality of "earnings" concept
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    • Mon Apr 21st 07:57 AM | Rating: 0 0
      Commented on:
      YRC Worldwide: A Compelling Short Idea
      And what about ABFS?
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    • Sat Apr 19th 14:35 PM | Rating: 0 0
      Commented on:
      Positioning For Further Dollar Weakness
      One of the great "plays" is AFLAC (AFL -nyse) which holds principally Yen, earns mostly in Yen (whilst building a U.S supplemental book of business).

      Disclosure: Writer holds, and has held since 1962, large position in AFL.
      View article »
    • Thu Apr 17th 10:07 AM | Rating: 0 0
      Commented on:
      'SuperREIT' CapitalSource Swoops Up Fremont's Branches
      A good heads up!
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    • Thu Apr 17th 10:01 AM | Rating: 0 0
      Commented on:
      Oil Would Be $65 if the Dollar Had Stayed Strong - AGI
      Now lets do that with Corn, wheat, rice and soy. Then, Steel, iron, etc.

      As always, there is NOT just ONE factor in play (the writer does not imply that, of course). But, investors ( and speculators) must watch not only "trends," but "convergences&quo... as well.
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    • Thu Apr 17th 09:53 AM | Rating: 0 0
      Commented on:
      12 Potash Companies Sprinting Ahead
      Hey, The source is great. This is what S A is all about; rounding up sources. S A has taken me to many watering holes worth a visit.
      View article »
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