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Johann Galt

Johann Galt
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  • The view from China is that U.S. politicians miss the big picture as they prattle on about the impact of a Chinese company buying Smithfield Foods (SFD -0.2%). Despite the focus on the Smithfield deal, China still doesn't rank in the top 20 nations for foreign direct investment in the U.S. According to groups supporting China acquisitions, those investments help bring the cultures closer which can ultimately mean more sales for U.S. firms (Nike, McDonald's, Coca-Cola, etc.) in China. [View news story]
    . . . and in cyberattacks on US military/govt computer systems
    Jun 10, 2013. 10:37 AM | Likes Like |Link to Comment
  • Details are out on Tesla Motors' (TSLA +0.8%) Supercharger network. By the end of 2013 the network will extend from coast to coast, but for now California is the best place to take a Model S on an extended trip. A new version of the automaker's battery charging system will allow a Model S to charge at 120kW (3 hours of driving) in just over 20 minutes. Musk says the company can't wait for other automakers to agree with its strategy as he puts out a "copy us or join us" directive to the group. (interactive Supercharger map[View news story]
    I think I may initiate a position in some long puts, based solely on the zealotry of those bullish on the stock. Any negative analysis is greeted with disdain and vitriol. Gotta be a contrarian indicator.
    May 30, 2013. 02:48 PM | 4 Likes Like |Link to Comment
  • A new Harvard study shows that immigrants may not be as big a burden on the healthcare system as critics claim. Immigrants to the U.S., particularly those without citizenship, contributed $115.2B more to the Medicare Trust Fund during the past decade than they withdrew. The study looked at data from 2002 to 2009, showing for example that in 2009 alone, American-born citizens took $30.9B out of Medicare, while immigrants provided a surplus of $13.8B. The study concluded that policies which restrict immigration may in fact deplete Medicare’s financial resources. [View news story]
    Silly study. First, any immigrant that legally works here is forced to pay the Medicare tax. Those on temporary visas, or that return to their respective countries never draw from Medicare. Or, they become American citizens prior to 65, and fall out of the "immigrant" category, while their contributions as "immigrant" count in the study.

    Similarly, an illegal immigrant similarly pays, and a great portion of these folks return home prior to becoming Medicare-eligible.

    Moreover, the study compares apples to oranges. Medicare is not a valid proxy for the "burden on the healthcare system", which is obvious given that the majority of the population are not eligible.

    Lastly, anyone who works or has worked in an emergency room, virtually anywhere in this country can attest to the complete invalidity of this study.
    May 30, 2013. 02:42 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Bob123- correct. Thus, if you had $200,000 in capital gains last year, you paid taxes on the entire gain. Then if you lost $200,000 this year, and decided to change your risk profile to say, CDs, you can write $3000 off your ordinary income for the next 66 years, all the while paying full taxes on CD income.

    Think that happened to anyone in 2007-2008?

    Yep, that's fair.
    May 10, 2013. 10:25 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ignis:

    A further shame is that your Dad likely paid taxes on all of the gains he made until 2007. Great racket Uncle Sugar has set up- all the upside but very limited downside risk.
    May 10, 2013. 10:16 AM | 3 Likes Like |Link to Comment
  • Senator John McCain will introduce legislation shortly to overhaul the TV business by giving consumers the option to buy channels on an individual basis (a la carte) - instead of seeing only large bundles as options. The politician will face fierce resistance from broadcast (NWS, DIS, CMCSA, CBS, AMCX, SNI, OUTD, DISCA, VIAB) and cable companies (CVC, CHTR, TWC) but may have a friend in upstart Aereo which has been rankling a few feathers as well. (Aereo timeline[View news story]
    . . . because this subject is REALLY important, what else could our politicians concentrate on?
    May 9, 2013. 09:11 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    gggl: Bingo. It's impossible for a family farmer to pass his land to his kid(s), because of the estate tax- his kids would have to come up w/ cash to take the 50% hit. And despite their paper wealth, generally that's impossible.

    But who cares about those people?
    May 7, 2013. 10:46 AM | 5 Likes Like |Link to Comment
  • Air traffic control operations are set to return to normal by this evening after the FAA ended the staff furloughs that had caused the delay of thousands of flights since coming into effect last Sunday. The FAA's move follows Congress' passing of legislation that allowed the agency to redirect up to $253M of its airport improvement budget to fund staffing and operations. [View news story]
    Lost in all this is that the "sequester" barely made any dent at all in fed spending. Why has no one asked how the FAA managed when the fed budget was under $1T?

    Crumbling infrastructure b/c of the sequester?

    Idiocy.
    Apr 28, 2013. 07:03 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Michael:

    In Germany, there is no tax break for home ownership, but a big one for rental property. Thus, there is no incentive to sell property, resulting in a concentrated property ownership. Most Germans rent, is my understanding.
    Apr 10, 2013. 10:10 AM | 3 Likes Like |Link to Comment
  • House Budget Committee Chairman Paul Ryan calls his latest budget proposal "an invitation to the president of the United States, to the Senate Democrats to come together to fix these problems." Democratic Representative Chris Van Hollen says it's a "total uncompromising" blueprint and dead on arrival. Hollen adds a warning to the markets as well, noting that despite the healthy performance of stocks recently, the impact from another stalemate will likely reverse those gains very quickly. [View news story]
    And to all of this criticism, the alternative? Oh, that's right, it's coming . . . so we're told.
    Mar 12, 2013. 09:52 PM | 1 Like Like |Link to Comment
  • Never, ever is a very, very long time.
    Mar 8, 2013. 12:44 PM | Likes Like |Link to Comment
  • Electric Vehicle Roundup: 1) Chevrolet Volt (GM) sales continue to fluctuate wildly, up 59% Y/Y and 43% M/M in Feb. to easily beat sales on Toyota's (TM) Prius. 2) Look for Ford (F) to include sales numbers on the Fusion Energi as the model hits dealerships this month. 3) Nissan (NSANY.OB) sold 636 Leafs in the U.S., +36.6 Y/Y, flat M/M, just ahead of the unveiling of a new model. 4) In Scotland, politicians issue campaign promises to install an EV charging point every 50 miles. 5) Tesla Motors (TSLA) trades in the mid-$30s post-earnings. On tap: Will revenue cover payments on a DOE loan and production costs or will Elon Musk need to float more stock? [View news story]
    The high end Tesla is over $100,000. So much for relatively cheap.
    Mar 4, 2013. 10:34 AM | Likes Like |Link to Comment
  • Electric Vehicle Roundup: 1) Chevrolet Volt (GM) sales continue to fluctuate wildly, up 59% Y/Y and 43% M/M in Feb. to easily beat sales on Toyota's (TM) Prius. 2) Look for Ford (F) to include sales numbers on the Fusion Energi as the model hits dealerships this month. 3) Nissan (NSANY.OB) sold 636 Leafs in the U.S., +36.6 Y/Y, flat M/M, just ahead of the unveiling of a new model. 4) In Scotland, politicians issue campaign promises to install an EV charging point every 50 miles. 5) Tesla Motors (TSLA) trades in the mid-$30s post-earnings. On tap: Will revenue cover payments on a DOE loan and production costs or will Elon Musk need to float more stock? [View news story]
    Yeah, at $52k a pop, it's gonna make a real difference.
    Mar 2, 2013. 01:47 PM | 8 Likes Like |Link to Comment
  • Apple (AAPL) has withdrawn proposal #2, preferred stock shareholder voting requirement and all, in response to the injunction placed earlier today at Greenlight Capital/David Einhorn's request. Apple: "We are disappointed with the court’s ruling. Proposal #2 is part of our efforts to further enhance corporate governance and serve our shareholders’ best interests." Greenlight on the injunction: "This is a significant win for all Apple shareholders and for good corporate governance." (court ruling[View news story]
    Has Apple ever won any court cases? Seems like everytime I hear about Apple and litigation its an explanation of how they got spanked in court.
    Feb 22, 2013. 09:47 PM | Likes Like |Link to Comment
  • February Philly Fed Business Outlook: -12.5 vs. +1.0 expected, -5.8 previous. [View news story]
    It's Hurricane Sandy related. I'm sure.
    Feb 21, 2013. 10:08 AM | 1 Like Like |Link to Comment
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