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  • Intel Overshadowed By Samsung At Mobile World Congress [View article]
    Samsung's accomplishments get dissed regularly by Apple bulls, but the tech in this phone is extremely impressive imo. 64 bit, 8 core, with their 14nm finfet process. They are saying ~20% better performance and ~35% better efficiency than the 20nm part. They are saying better battery performance than the iP6, and the battery is smaller than the G5. The leaked geekbench scores are very strong at about 1500 single/5500 multi (multi is almost twice the iP6). 3Gbs of LPDDR4 and UFS make this phone very much like my dual core Sandy Bridge Macbook from four years ago, but it is all in the palm of your hand, and the G6 has much better resolution. This chip appears to be a monster that will easily run a very cheap chromebook. It looks like Samsung hit it out of the park. I doubt they will take over because of other issues they have, but the SOC war appears to have gone thermonuclear.
    Mar 3, 2015. 10:44 AM | 7 Likes Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    >>For most of the past 10+ years, CBI has traded below $40 with two spikes, up to $62 in 2007 before the financial crisis (when many stocks were overvalued) and the period 2011-2014 when shares reached as high as $87. i believe the latter run-up was strongly influenced by Buffett establishing a sizable position<<

    While that could be somewhat true, we can't forget that CBI has experienced explosive growth during that period. CBI has roughly doubled revenue and profits in the last three years! The growing stock price is because of growing earnings. We have to look at the fundamentals, and that is why I believe it is so cheap now--the price does not reflect the new reality. CBI's earnings estimates are selling at less than 50% of the major averages. So, the average company on the index is about twice as expensive as CBI. The key is understanding how to establish a value for a company and then finding great companies that are either fairly priced or cheap. Finding a great company like CBI that is this cheap is rare imo. Now, it is possible the fundamentals will change at some point in the future, but the earnings call completed refuted that thesis. GLTA.
    Mar 3, 2015. 08:29 AM | 1 Like Like |Link to Comment
  • Samsung launches S6 with metal/glass body, 2K display, new fingerprint sensor [View news story]
    Lo, the problem is that on an iPhone if you are having trouble they have software to test your battery. If it is weak they will put a new one in. If it is out of warranty you can still pay to get a new one at the Apple store. What are you going to do when a Galaxy S6 goes bad?
    Mar 2, 2015. 09:04 PM | 1 Like Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    Well, the point is that if you own a business and you are making back your total investment in eight years, you generally have a great investment, especially when everything else is selling for 20 times earnings. It isn't so much about libido and sparks imo; it is about earnings. A company might be able to return as much as 5% of the earnings through buybacks each year when the price stays at 8 times earnings; if it drops to four times earnings, they might be able to purchase 10% per year because of the earnings to price ratio! After 15 years of purchasing 5% a year, assuming zero growth, your stock price would roughly double. That is why it is a great investment--compounding. Throw in some growth, and you have a leader. Fundamental guidance is forward looking and CBI's is outstanding--one of the best values anywhere. You might have argued Apple wasn't at the bottom in early '13, too, but fundamentals said it would head much higher in time and sure enough it has doubled in the last two years. Finding fundamental bargains is the key to great investing imo, but it might take some patience. BTW, CBI is booming growth-wise. They are buying back stock because it is cheap.
    Mar 2, 2015. 08:55 PM | 1 Like Like |Link to Comment
  • Asure Software Presents Complimentary Live Demonstration on Workspace Scheduling Solutions for Mobile Workforces [View article]
    Complementary!
    Mar 2, 2015. 05:37 PM | Likes Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    >>In truth, fundamentals are a kind of (rationalized) herd instinct.<<

    Funny, Michael, that is exactly how many see TA! The movement is irrational, but other members of the herd join in the irrational move simply because of the movement. If a company like CBI is selling for 8 times earnings, that is concrete. The company is so cheap, management can buy back massive amounts of the stock because the herd is irrationally giving shares away. I had this same discussion many times as Apple was floundering in '13. What could change the picture is if fundamentals change and they aren't making money any more. It really doesn't matter if we are talking pizza joints, car washes, or some of the most complicated engineering in the world, 8 times earnings won't last.
    Mar 2, 2015. 05:02 PM | 4 Likes Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    I'm a little surprised that the 13Fs didn't move it more. BRK sold 3-4Bn in Exxon last qtr, but they kept all of their CBI. They know how to hit the sell button. Quite a vote of confidence, and the results seem to validate the decision. Einhorn also bought several million shares. One would think that might generate some strength, but here CBI sits at 8 times the midpoint of reaffirmed earnings!
    Mar 2, 2015. 02:37 PM | 2 Likes Like |Link to Comment
  • Genworth tumbles after disclosing accounting "material weakness" [View news story]
    >>"concluded that we did not have adequate controls designed and in place to ensure that we correctly implemented changes made to one of our methodologies as part of our comprehensive long-term care insurance claim reserves review completed in the third quarter of 2014,"<<
    Who makes up a sentence like that? Sell?
    Mar 2, 2015. 02:15 PM | 2 Likes Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    From the ER:
    >>Awards included strong bookings in the United States such as the engineering and construction of a three train LNG export terminal; two combined cycle gas turbine power projects; an ammonia storage tank; pipe fabrication for a propane dehydrogenation unit; nuclear and petrochemical facility maintenance work; as well as various decommissioning and decontamination, environmental remediation and government services awards. Globally, we booked noteworthy awards for engineering and procurement for a clean fuels project; structural, mechanical and piping construction for an LNG project; construction of petroleum storage tanks; licensing for a grassroots ethylene plant; engineered products for refining, petrochemicals and gas processing facilities; strategic technology licenses; and numerous additional steel plate storage and fabrication awards<<
    >> Cash from operating activities for the fourth quarter was $613.3 million<<
    Hard to see why they deserve to be selling at less than 50% of the PE of the major indexes.
    Mar 2, 2015. 12:46 PM | 3 Likes Like |Link to Comment
  • Samsung launches S6 with metal/glass body, 2K display, new fingerprint sensor [View news story]
    BCB, exactly. I have owned Windows machines for many years. We got into the Android program a few years back, and different members had flavors from most of the major brands--Samsung, HTC, and LG. Being the family IT man, I dealt with the issues. Apple's customer service isn't outstanding by American standards of the last 50 years, but it is very good. Other tech firms have no customer service. In fact, the other companies are designed so that a customer can't get to them. They don't even get why Apple is so popular! You will hear the fanboy dismissal, and you will hear the cult mentioned. It really is a lot simpler: customers don't want to debug the software on their technology. If I never have to type in config.sys again, or read another KB article, I will be perfectly happy! Apple gets this, and Samsung doesn't. Neither does MSFT. So, I agree wholeheartedly that the customer service aspect of the stores is one of the big reasons Apple is out front by 12 miles. Imagine if you had a problem with your 15 month old Ford Mustang or pickup and you couldn't get it worked on for less than the value of the car!? You can plug in about any other product. Tech company customer service is just abysmally horrible, all except for Apple.
    Mar 2, 2015. 11:41 AM | 4 Likes Like |Link to Comment
  • Samsung launches S6 with metal/glass body, 2K display, new fingerprint sensor [View news story]
    Well, just like when Apple rolled the A7, the press and investors take a while to figure out what has happened. We are getting the usual comments about the how case looks. It looks like Samsung finally hit one out of the park. This phone really is a little laptop from a few years ago in every respect. Samsung can easily run chromebooks on this chip, so I would expect to see a bunch of cheap laptops available. The implications for Intel, NVDA, and QCOM are large. I am sure Apple will respond in a big way this fall. SOC competition is actually heating up and going thermonuclear...should be interesting to watch.
    Mar 2, 2015. 10:02 AM | 2 Likes Like |Link to Comment
  • Chicago Bridge & Iron - Does Recent Rebound Signify A Long-Term Trend Or Yet Another Value Trap For Investors? [View article]
    I agree Carl. It is also proof that Mr. Market doesn't price stocks correctly. Even today, CBI's price is completely irrational. If we assigned the same exact forward PE to the S&P 500 index today the market would *crash* to levels not seen since the Spring of 2009! That is on current fundamentals. There is so much disaster priced into CBI right now I can't believe people are arguing it is expensive. I guess they are short? If we simply apply the S&P 500s forward PE to the midpoint of the guidance they gave last week--$5.80, CBI is selling for over $100 a share today! So, Mr. Market is having another of his famous less than half price sales. CBI isn't out looking for oil. The funny thing is that the companies that are out looking for oil, like XOM, have forward PEs *higher* than the S&P 500! So, you can pay 25 X earnings for an oil company, or 7.5 X earnings for a company that engineers in a diversified portfolio. No brainer. I'm surprised Icahn hasn't pounced on this one yet. Einhorn already has.
    Mar 2, 2015. 09:48 AM | 6 Likes Like |Link to Comment
  • Samsung launches S6 with metal/glass body, 2K display, new fingerprint sensor [View news story]
    Matt, we will have to wait for complete testing, but that chip was 20nm planar and Samsung is using their 14nm Finfet process on this one. What they said, I think, was that it was 25% faster and 35% more efficient than the 20nm chip. You can correct if I am reading that wrong. The leaked Geekbench scores show it being slightly slower than the A8 on single thread and almost twice as fast multi. When you add in 3GBs of LPDDR4 and the UFS, ~twice as fast on multi-thread, Apple has a long way to go to catch up to Samsung on the 6S hardware performance. Knowing Apple they will catch up. Samsung should be congratulated on this phone. It is clearly ahead of everything else. It will be interesting to see what Intel says, but it had better be good. But, as I said above, that doesn't touch Apple's real advantages--customer service, and warranty work, along with software uniformity, security, integration and convenience.
    Mar 2, 2015. 07:45 AM | 2 Likes Like |Link to Comment
  • Samsung launches S6 with metal/glass body, 2K display, new fingerprint sensor [View news story]
    I agree. Samsung doesn't seem to understand what their customers want. They still have a TV mentality, and it doesn't work as well with cell phones. While this phone is definitely Samsung's best effort ever, I doubt they will do much damage with it. It is superior to the iP6/6+ on hardware by a pretty large margin. SOC, UFS, total memory, display, battery life, battery charging time, contact charging, curved glass--Samsung likely wins each of these hardware categories with this phone, so congrats to them for doing that. But, Apple still wins on customer service and that pretty much makes it game over imo. Customers can get their issues fixed at the Apple store and there is no corollary with Samsung. Better yet, Apple updates the software for free regularly. Samsung's biggest problem is that they are chained to Android, a fragmented security nightmare. Even though Samsung's phone is probably faster, customers will still stick with Apple.
    Mar 1, 2015. 11:39 PM | 11 Likes Like |Link to Comment
  • Intel: What The Company Will Show At Mobile World Congress [View article]
    Radios enable all of it though, Derrick. That is the biggest missing piece with the Apple watch--it isn't connected. If Intel can get radios on a watch chip(would work on other wearables, too), and they can get the battery life, particularly if they can announce a product, they will one-up Apple's media event. Having to be tethered to your phone is a huge drawback for Apple. They will try to gloss over that, but it is the elephant in the room imo.
    Feb 28, 2015. 12:33 PM | 4 Likes Like |Link to Comment
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