Seeking Alpha

runyontr

runyontr
Send Message
View as an RSS Feed
View runyontr's Comments BY TICKER:
Latest  |  Highest rated
  • Asus is unveiling the ZenBook Infinity, the first notebook sporting a Gorilla Glass 3 lid, as the Computex trade show gets underway. Asus claims its use of Gorilla Glass 3, which Corning (GLW) asserts is 3x more scratch-resistant than its predecessor, allows the Infinity to have a maximum thickness of just 15.5mm, 14% less than that of prior Zenbooks. [View news story]
    Vanity. To be sure. Haha
    Jun 3 07:57 PM | Likes Like |Link to Comment
  • Asus is unveiling the ZenBook Infinity, the first notebook sporting a Gorilla Glass 3 lid, as the Computex trade show gets underway. Asus claims its use of Gorilla Glass 3, which Corning (GLW) asserts is 3x more scratch-resistant than its predecessor, allows the Infinity to have a maximum thickness of just 15.5mm, 14% less than that of prior Zenbooks. [View news story]
    Plastic and cases don't look nearly as nice as clean glass. I think this has either the potential to look newer for longer, or to attract smudges and fingerprints to make it ugly. I hope for the former.

    In the mean time, I love the volume of glass that will be sold for this purpose. I'm long GLW and there's at least 10 cell phones worth of glass being sold for each laptop. Great increase in volume if this can catch on.
    Jun 3 07:45 PM | 1 Like Like |Link to Comment
  • Prospect Capital (PSEC): FQ3 NII of $0.26 misses by $0.05. (PR[View news story]
    Guidance is normally based on analysts not the company. Apple would beat every earnings if they did it on company guidance. I'm not sure where SA gets the specifics on what the expected analyst earnings are, however.
    May 6 06:34 PM | Likes Like |Link to Comment
  • More from Omaha: Andrew Ross Sorkin asks if Dodd-Frank banking rules will affect the profitability of Berkshire Hathaway's (BRK.B) investments. Buffett says investments in US Bancorp (USB), M&T Bank (MTB), and similar holdings are not likely to be disproportionately affected, although returns on tangible equity at some holdings will be lower going forward. Buffett also opines on speculation, saying subsequent bubbles will not likely be the fault of the financial sector. Munger: "I do not see why massive derivative books should be mixed up with insured deposits ... [I don't like] bankers acting like investment bankers." (NY Times, WSJ[View news story]
    Philip,
    Thanks for pointing that out. I misread "investment" as "insurance".

    I think I understand the difference:

    Banker: Makes money on the difference between the interest rates on the money people put in the bank and the rate they get on their loan. I.e. valued based on their earning power.

    Investment Banker: Makes money on finding buyers for a corporations issuing of debt, selling bonds above par, trading derivatives. i.e. valued based upon their assets.

    It explains why he like WFC (trading above book value).


    The quote is basically saying "Don't buy stocks/equity with people's deposits in banks".
    May 4 04:48 PM | Likes Like |Link to Comment
  • More from Omaha: Andrew Ross Sorkin asks if Dodd-Frank banking rules will affect the profitability of Berkshire Hathaway's (BRK.B) investments. Buffett says investments in US Bancorp (USB), M&T Bank (MTB), and similar holdings are not likely to be disproportionately affected, although returns on tangible equity at some holdings will be lower going forward. Buffett also opines on speculation, saying subsequent bubbles will not likely be the fault of the financial sector. Munger: "I do not see why massive derivative books should be mixed up with insured deposits ... [I don't like] bankers acting like investment bankers." (NY Times, WSJ[View news story]
    Can someone fill me in on his views on what a banker should be investing in and what an insurance banker should be investing in?
    May 4 02:33 PM | Likes Like |Link to Comment
  • Apple Bonds Are Good For The Economy [View article]
    Book value is rarely a good indicator of a tech company's worth. OTOH, they're buying stock that yields 10% ($44 EPS on $440 pps), which is much better than the 2-3% they're paying on it.

    I do like and own GLW, which has the best of both worlds: P/BV < 1 and PE ~ 10.
    May 3 03:20 PM | Likes Like |Link to Comment
  • Apple Bonds Are Good For The Economy [View article]
    I think you're trying to say that $9B to the US Goverment would be BETTER for the economy than issuing these bonds.

    What the author is trying to say is that issuing these bonds are better than not issuing the bonds.
    May 3 03:11 PM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    I assure you, I'm no expert in MLPs.

    This is an interesting article about another stock I own that explains how different companies have to account for income/expenses based on what percentage of the company they own:

    http://seekingalpha.co...

    From what I understand, it looks like since they will be a majority holder of the company, PSX has the MLP's revenue, expenses and income all added to that of PSX.

    This is different than the CPChem joint venture with Chevron, where we just see the $3,134 in "Equity in earnings of affiliates" on the income statement, but no cap-ex under chemicals.
    Mar 28 10:40 AM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    I think it the fact that MLP's are typically getting a higher P/E than refiners are. I was just looking at some MLPs and most are getting forward P/E's around 20+.

    Right now PSX is getting a forward earnings of ~10. If they can break off $0.50 /year in earnings and get a P/E of 20 on it, they can essentially increase the value for the share holder:

    $6.5 * 10 = $65

    $6*10 + $0.50 * 20 = 70


    Why did I chose $0.50? The midstream section of PSX's last 10k earned about $300 milllion (before a writeoff) which equates to about $0.50/share. In reality, all of that won't be spun off, but there should be a little growth, and 20 is a low P/E for MLPs right now.
    Mar 28 10:07 AM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    I was under the assumption that PSX would retain majority control of PSXP, similar to how SUN retains a large stake in SXL.

    Personally, I would rather PSX continue to own the shares. With the complications of K1 tax forms, I prefer not to invest in them directly. This would provide a pass through for those earnings. Additionally, it would provide some extra cash flow to the company.
    Mar 28 08:30 AM | 4 Likes Like |Link to Comment
  • Corning: What The Numbers Say [View article]
    Following this logic, why hold any individual company when you can own an ETF that holds it?

    Answer: You believe in its long term prospects more than the other holdings.
    Mar 18 03:06 PM | 1 Like Like |Link to Comment
  • Corning: What The Numbers Say [View article]
    This is a quote from their 4Q Earnings call: http://seekingalpha.co...


    As a reminder, our results move these changes in the yen to the U.S. dollar exchange rate. Our LCD glass is sold in the yen. When the yen weakens, it lowers our display results. On the other hand it improves panel makers results, because the panel industry [sales]. When the yen strengthens, the opposite happens. Specific to Corning, if the yen moves one point higher or lower in Q1, we estimate our sales would decrease or increase by $8 million.
    Mar 18 10:09 AM | 1 Like Like |Link to Comment
  • Which 10% Yielding BDC To Buy? [View article]
    Good comparison into these two high yielding BDCs.


    The dividend comparison chart is a little misleading. It suggests that PSEC cut its dividend from about $0.40 down to $.10 region. There was an effective cut of dividend, but that happened from going from a quarterly distribution to a monthly distribution. Maybe a metric like TTM dividends, or Div/Quarter might be more generic.

    Long PSEC.
    Mar 15 09:23 AM | 7 Likes Like |Link to Comment
  • More on Phillips 66's (PSXQ4 results: Strong realized refining and chemicals margins improved earnings, benefiting from improved feedstock advantage with stronger Gulf Coast and Canadian crude differentials, as well as higher gasoline and distillate market spreads. Processed 135K bbl/day of shale crude, up 97% Y/Y. Hikes dividend by 25%; grows stock repurchase by $1B. Shares +2.6% premarket. [View news story]
    Is this increase in addition to the already announced 25% increase to $1.25/year?


    For reference: http://seekingalpha.co...
    Jan 30 09:07 AM | Likes Like |Link to Comment
  • Dividends Vs. Growth, Part II [View article]
    Ryan,
    In your first piece you clearly outline why a person might pick each portfolio style (growth for appreciation of capital, dividend for growing income stream). Thus there exists a natural metric for each of the portfolio type.

    There is an inherent bias in then deciding to judge the results of both of the portfolios by the same metric. What if the Dividend portfolio has better appreciation in capital, but overall the dividends are cut? That sounds like a big failure to me. If I were retired (I'm not, I'm just 26) the stock value of my dividend portfolio wouldn't be nearly as relevant as the income stream I'm depending on.

    Unfortunately, I don't have a good solution for you either. It seems that you should be creating comparable portfolios and comparing those.

    Either way, it'll be interested to see how your stocks progress throughout the year. Good luck and keep us posted,

    Tom
    Jan 17 10:01 AM | Likes Like |Link to Comment
COMMENTS STATS
30 Comments
35 Likes