Frank Rong1's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/227306/comments http://seekingalpha.com/article/91616-financials-and-housing-the-outlook-remains-ugly?source=feed#comment-234544 234544
Just like any industry, when prices of a commidity goods(housing this case)move up, more competition come in, thus more of the commodity being produced, eventually prices felt back.

American consumers go best of the deal, since many of them bought prices high with no money down, how much will they lose? Nothing

]]> Wed, 20 Aug 2008 07:00:03 -0400
Just like any industry, when prices of a commidity goods(housing this case)move up, more competition come in, thus more of the commodity being produced, eventually prices felt back.

American consumers go best of the deal, since many of them bought prices high with no money down, how much will they lose? Nothing

]]> http://seekingalpha.com/article/91641-interview-with-jim-rogers-part-i-bigger-financial-shocks-loom?source=feed#comment-234387 234387 ]]> Tue, 19 Aug 2008 22:08:58 -0400 ]]> http://seekingalpha.com/article/90892-the-great-consumer-crash-of-2009?source=feed#comment-234385 234385 Saving rates are flawed due to government calculation.
real estate mess is another perfect example of free market system. As home prices moved up, more competitions moved in, more homes being built and prices will eventually fall. nothing worng with that. I am surprised so many people are so shocked with the fall in prices.

asset= liability + equity.

Yes, Liabilities in this nation on the rise, primarily due to home mortgage debts, but so what, we have plenty of asset and equity to pay off debts.

Relax. You live in a best country in the world. American stocks are very cheap. A big bull market has already begun,]]> Tue, 19 Aug 2008 22:04:39 -0400 Saving rates are flawed due to government calculation.
real estate mess is another perfect example of free market system. As home prices moved up, more competitions moved in, more homes being built and prices will eventually fall. nothing worng with that. I am surprised so many people are so shocked with the fall in prices.

asset= liability + equity.

Yes, Liabilities in this nation on the rise, primarily due to home mortgage debts, but so what, we have plenty of asset and equity to pay off debts.

Relax. You live in a best country in the world. American stocks are very cheap. A big bull market has already begun,]]> http://seekingalpha.com/article/90727-financials-to-resume-meltdown-momentarily?source=feed#comment-232043 232043
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Mortgage messes are expected. rising home prices made homebuilders rish, then they build more until we had too much inventory, then the bottom felt out.

Credit card business are entirely different. few large rational players. During last two recessions, profits in industry did not get affected.

Your linear thinking is absurds]]> Thu, 14 Aug 2008 08:26:19 -0400
Mortgage messes are expected. rising home prices made homebuilders rish, then they build more until we had too much inventory, then the bottom felt out.

Credit card business are entirely different. few large rational players. During last two recessions, profits in industry did not get affected.

Your linear thinking is absurds]]> http://seekingalpha.com/article/90613-market-outlook-it-s-still-all-about-housing?source=feed#comment-228921 228921
It's Frank, your Edward Jones Buddy.

I think the most financial stocks have bottomed. The best time to buy financial stocks are during the credit crunch. i.e. lot less competitions in lending business, thus higher net interest margins, and better quality clients.

I think we entered a recession in December 2007 and we are approaching a recovery phase now.

Many financial stocks are on sale right now. It's time to be very very bullish. This is a "once lifetime" opportunity to buy many high quality finanical stocks cheap

Commodity bubble is bursting. Jim Rogers is the next Angelo Mazilo. ]]> Tue, 12 Aug 2008 18:11:56 -0400
It's Frank, your Edward Jones Buddy.

I think the most financial stocks have bottomed. The best time to buy financial stocks are during the credit crunch. i.e. lot less competitions in lending business, thus higher net interest margins, and better quality clients.

I think we entered a recession in December 2007 and we are approaching a recovery phase now.

Many financial stocks are on sale right now. It's time to be very very bullish. This is a "once lifetime" opportunity to buy many high quality finanical stocks cheap

Commodity bubble is bursting. Jim Rogers is the next Angelo Mazilo. ]]> http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-227721 227721 Mon, 11 Aug 2008 10:24:31 -0400 http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-227718 227718
I have nothing to hide, I am not greencapital, nor MA trader]]> Mon, 11 Aug 2008 10:21:45 -0400
I have nothing to hide, I am not greencapital, nor MA trader]]> http://seekingalpha.com/article/90057-u-s-savings-rate-to-increase-finally?source=feed#comment-226514 226514
In fact, American consumers are the biggest savers in the world.

News media is the most stupid segment of our economy, many reporters are retarded socialists. ]]> Fri, 08 Aug 2008 18:37:06 -0400
In fact, American consumers are the biggest savers in the world.

News media is the most stupid segment of our economy, many reporters are retarded socialists. ]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-225556 225556
Thanks]]> Thu, 07 Aug 2008 18:43:31 -0400
Thanks]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-225492 225492
You are very good, Tell me what you do for living and how do you so much about China?]]> Thu, 07 Aug 2008 17:03:37 -0400
You are very good, Tell me what you do for living and how do you so much about China?]]> http://seekingalpha.com/article/89729-24-fundamentals-of-market-bottoms?source=feed#comment-225381 225381
Your article is pointless. You only know we had a bottom long after it happened. It's completely useless to "time" a market bottom.

There are many financials stocks are selling for less than 50 cents on a dollar. It's time to buy and forget. I don't need Mr. Market's opinion. Mr. Market is here to serve you, not to guide you. Stocks are cheap

]]> Thu, 07 Aug 2008 14:58:20 -0400
Your article is pointless. You only know we had a bottom long after it happened. It's completely useless to "time" a market bottom.

There are many financials stocks are selling for less than 50 cents on a dollar. It's time to buy and forget. I don't need Mr. Market's opinion. Mr. Market is here to serve you, not to guide you. Stocks are cheap

]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-225108 225108
Thank you for your input. I sent this articel to Jim rogers first, I got a very nasty reply from him, He called me an idiot.

Anyway, let's watch the Chinese trainwreck to unfold, it may take a year or two]]> Thu, 07 Aug 2008 11:19:49 -0400
Thank you for your input. I sent this articel to Jim rogers first, I got a very nasty reply from him, He called me an idiot.

Anyway, let's watch the Chinese trainwreck to unfold, it may take a year or two]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-224804 224804 I expect a big bull market for US stocks ahead, from money flow back into US]]> Thu, 07 Aug 2008 08:25:32 -0400 I expect a big bull market for US stocks ahead, from money flow back into US]]> http://seekingalpha.com/article/89417-five-great-businesses-currently-on-sale?source=feed#comment-224130 224130
Read it here on AmEX
seekingalpha.com/artic...]]> Wed, 06 Aug 2008 12:31:29 -0400
Read it here on AmEX
seekingalpha.com/artic...]]> http://seekingalpha.com/article/89417-five-great-businesses-currently-on-sale?source=feed#comment-224128 224128
Let's say, every mortgage defaulted, and LM can recover 50 cents on a dollar, I expect the max amount of money Legg can lose is 1 Billion, or one year worth of earning. ]]> Wed, 06 Aug 2008 12:29:09 -0400
Let's say, every mortgage defaulted, and LM can recover 50 cents on a dollar, I expect the max amount of money Legg can lose is 1 Billion, or one year worth of earning. ]]> http://seekingalpha.com/article/89417-five-great-businesses-currently-on-sale?source=feed#comment-223881 223881 Wed, 06 Aug 2008 09:07:16 -0400 http://seekingalpha.com/article/89417-five-great-businesses-currently-on-sale?source=feed#comment-223879 223879
China and India are not free market, they are socialist-like woth some market based economy.

China is absolutely a bubble, I have not met a single person who is not bearish on China. ]]> Wed, 06 Aug 2008 09:06:05 -0400
China and India are not free market, they are socialist-like woth some market based economy.

China is absolutely a bubble, I have not met a single person who is not bearish on China. ]]> http://seekingalpha.com/article/89243-two-types-of-speculation-one-harmful-one-not?source=feed#comment-223788 223788
Mark Thoma thinks he's smart, and thinks Obama is right. Obama is a socialist. Your inflating tires analysis is simply wrong. Here's why

We consume 20.4 million barrels of oil per day, out of that amount, 9.3 million is gasoline. Oils are used for heating and other industrial uses. Now, many driver, including me, properly inflating tires, we rotate tirew every 5000 miles, let's say 65% of us properly inflate our tires, and 35% don't. Those don't use 35% of 9.3 Million = 3.26%, let's say 3% savings from tire inflation = less than 100,000 barrels per day saving. 100,000/20,400,000= .5%, very little impact on energy consumption.

Mark, do you see the holes in your argument?]]> Wed, 06 Aug 2008 07:57:15 -0400
Mark Thoma thinks he's smart, and thinks Obama is right. Obama is a socialist. Your inflating tires analysis is simply wrong. Here's why

We consume 20.4 million barrels of oil per day, out of that amount, 9.3 million is gasoline. Oils are used for heating and other industrial uses. Now, many driver, including me, properly inflating tires, we rotate tirew every 5000 miles, let's say 65% of us properly inflate our tires, and 35% don't. Those don't use 35% of 9.3 Million = 3.26%, let's say 3% savings from tire inflation = less than 100,000 barrels per day saving. 100,000/20,400,000= .5%, very little impact on energy consumption.

Mark, do you see the holes in your argument?]]> http://seekingalpha.com/article/87530-the-fed-shouldn-t-act-rashly-over-inflation?source=feed#comment-223655 223655 Tue, 05 Aug 2008 23:03:36 -0400 http://seekingalpha.com/article/89243-two-types-of-speculation-one-harmful-one-not?source=feed#comment-223652 223652
The best solution for high oil price is high oil price. With the gloabl demand destruction from the high oil price, oil prices will eventually fall.

One thing I do agree with you is this, many news media reporters and writers are retards, they fabricate some news that's completely false.

High oil prices in the last few years are a reflection of strong global growth, and in many ways led by the global housing bubble. But now, gloabl housing and commodity bubbles start to unwind, That's very healthy for the US economy in the long run]]> Tue, 05 Aug 2008 23:00:30 -0400
The best solution for high oil price is high oil price. With the gloabl demand destruction from the high oil price, oil prices will eventually fall.

One thing I do agree with you is this, many news media reporters and writers are retards, they fabricate some news that's completely false.

High oil prices in the last few years are a reflection of strong global growth, and in many ways led by the global housing bubble. But now, gloabl housing and commodity bubbles start to unwind, That's very healthy for the US economy in the long run]]> http://seekingalpha.com/article/89138-citigroup-doing-well-despite-what-the-media-says?source=feed#comment-223479 223479 Tue, 05 Aug 2008 17:13:08 -0400 http://seekingalpha.com/article/88528-how-much-credit-is-too-much-where-amex-went-wrong?source=feed#comment-223467 223467 Tue, 05 Aug 2008 16:56:20 -0400 http://seekingalpha.com/article/88175-card-issuers-facts-and-fictions?source=feed#comment-223128 223128
Let's move on from this topic, and we can find out what happen to these four companies in two or three years.

I wrote two more articles I want to know how you think]]> Tue, 05 Aug 2008 10:40:34 -0400
Let's move on from this topic, and we can find out what happen to these four companies in two or three years.

I wrote two more articles I want to know how you think]]> http://seekingalpha.com/article/88528-how-much-credit-is-too-much-where-amex-went-wrong?source=feed#comment-221103 221103
Look, I careless about the trial, What I like about DFS has nothing to so with the lawsuit. As you know, the Visa bylaws was put in place in 1992, specifically against DFS. The problem DFS had over the years is acceptance, It was accepted far less places than Visa, the reason is simple, like I told you, Visa banned acquiring banks from doing business with DFS. That damage is huge. Who signs up merchant for acceptance? Acquiring banks, there are thousands of places that you can sign up to accept credit cards, but these places will not let you sign up for Discover. Why? because Visa told them, look, if you let merchants to take Discover, we will not let you do business with US again.

Forget about the past, let us look into the future, the truth are self-evident, the question is steve, can you handle the truth?

Discover has 18 million active users, Amex has about 23 millions. Discover card is not used as often as Visa for one simple reason, i.e. too many places did not take Discover Card. That's about to change for good. by early next year, Discover should reach parity, and it can partner up with merchants encourage more usages of Discover card, which means more money for DFS.

Visa on the other hand, will be looking at renew contracts with banks, Banks want to keep more of Visa's share of revenue, or they will move, no royalty there. Imagin sit down with Jamies Dimon or Ken Lewis, they will get very large concessions from them. Ken lewis even threaten to start a new network to compete against Visa.]]> Sat, 02 Aug 2008 14:50:26 -0400
Look, I careless about the trial, What I like about DFS has nothing to so with the lawsuit. As you know, the Visa bylaws was put in place in 1992, specifically against DFS. The problem DFS had over the years is acceptance, It was accepted far less places than Visa, the reason is simple, like I told you, Visa banned acquiring banks from doing business with DFS. That damage is huge. Who signs up merchant for acceptance? Acquiring banks, there are thousands of places that you can sign up to accept credit cards, but these places will not let you sign up for Discover. Why? because Visa told them, look, if you let merchants to take Discover, we will not let you do business with US again.

Forget about the past, let us look into the future, the truth are self-evident, the question is steve, can you handle the truth?

Discover has 18 million active users, Amex has about 23 millions. Discover card is not used as often as Visa for one simple reason, i.e. too many places did not take Discover Card. That's about to change for good. by early next year, Discover should reach parity, and it can partner up with merchants encourage more usages of Discover card, which means more money for DFS.

Visa on the other hand, will be looking at renew contracts with banks, Banks want to keep more of Visa's share of revenue, or they will move, no royalty there. Imagin sit down with Jamies Dimon or Ken Lewis, they will get very large concessions from them. Ken lewis even threaten to start a new network to compete against Visa.]]> http://seekingalpha.com/article/88528-how-much-credit-is-too-much-where-amex-went-wrong?source=feed#comment-220883 220883
I am a value investor, I am not a friend of "GC", I am long DFS since it's the cheapest stock, yet this a great business. I figure DFS can earn about $2.50 a year, so it sells for 6 times normalized earning. comparing to V and MA, they sell for 30 tmes earning.
]]> Sat, 02 Aug 2008 08:57:01 -0400
I am a value investor, I am not a friend of "GC", I am long DFS since it's the cheapest stock, yet this a great business. I figure DFS can earn about $2.50 a year, so it sells for 6 times normalized earning. comparing to V and MA, they sell for 30 tmes earning.
]]> http://seekingalpha.com/article/88528-how-much-credit-is-too-much-where-amex-went-wrong?source=feed#comment-220651 220651
Amex cardholders tend to like to show off. In fact I know many people really broke, wrote bounced checks and carry an Amex Card. Amex has 23 million active users in the US, and I don't think we have that many rich people in US.

Enjoy your weekend,

Frank]]> Fri, 01 Aug 2008 17:11:03 -0400
Amex cardholders tend to like to show off. In fact I know many people really broke, wrote bounced checks and carry an Amex Card. Amex has 23 million active users in the US, and I don't think we have that many rich people in US.

Enjoy your weekend,

Frank]]> http://seekingalpha.com/article/88528-how-much-credit-is-too-much-where-amex-went-wrong?source=feed#comment-219982 219982
2. Discover's credit limits are low because they are targeting the low FICO, high risk sorts of people? Discover has been the best underwriter in the last few years. Discover Card is the hardest one to get.

3. Amex is a still great business, it's a business even an idiot can run it.
]]> Fri, 01 Aug 2008 08:45:53 -0400
2. Discover's credit limits are low because they are targeting the low FICO, high risk sorts of people? Discover has been the best underwriter in the last few years. Discover Card is the hardest one to get.

3. Amex is a still great business, it's a business even an idiot can run it.
]]> http://seekingalpha.com/article/87347-why-visa-should-thrive?source=feed#comment-219550 219550
what do you think?]]> Thu, 31 Jul 2008 14:52:20 -0400
what do you think?]]> http://seekingalpha.com/article/87347-why-visa-should-thrive?source=feed#comment-218842 218842
Like I said earlier, rebates are going up , way up, by 58% in fact, from 175 Million to 274 million dollars

Visa faces a potential price war with MasterCard, which could lead to the defection of large clients]]> Wed, 30 Jul 2008 18:56:45 -0400
Like I said earlier, rebates are going up , way up, by 58% in fact, from 175 Million to 274 million dollars

Visa faces a potential price war with MasterCard, which could lead to the defection of large clients]]>