Seeking Alpha


Send Message
View as an RSS Feed
View davidingeorgia's Comments BY TICKER:

Latest comments  |  Highest rated
  • The Guardian of London has posted a copy of a "top secret" court order instructing Verizon (VZ) to provide the U.S. National Security Agency (NSA) with records of all calls made within the U.S. or originating in the U.S., through July 19, 2013. The accompanying article says the order went into effect on April 25 affecting millions of Verizon customers. In the exclusive article, the Guardian says that it is likely, though unknown, that other U.S. carriers are also affected. [View news story]
    Sure they still do investigative reporting here...if the target of the investigation has an "R" after his name or if someone donates money to something/someone that's not Barky-approved. Otherwise, it's Soviet-era Pravda 24/7.
    Jun 6, 2013. 05:08 AM | 6 Likes Like |Link to Comment
  • DirecTV (DTV) buys LifeShield Home Security in what looks like a bid by the company to enter the home security business. Terms of the deal weren't disclosed. DTV -0.9% premarket. [View news story]
    Now I'll get spammed by DTV about buying a home security service plan along with all the other stuff they already spam me about. Lovely.
    Jun 5, 2013. 09:21 AM | Likes Like |Link to Comment
  • Resource Capital: A Commercial mREIT With A 12.80% Yield [View article]
    It wasn't a good quarter, for sure, but I think some (a lot?) of that is from the ongoing process of improving the quality of the stuff that they hold. If so, that should turn into a long-term positive for them. But, as Albert says in the article, it is a (relatively) high-risk investment.
    Jun 5, 2013. 08:44 AM | Likes Like |Link to Comment
  • Resource Capital: A Commercial mREIT With A 12.80% Yield [View article]
    I like this one as well. They seem to definitely be heading in the right direction with their assets, etc. Thanks for the review of the business, Albert. Much appreciated.

    Disclosure: long RSO and RSOpB
    Jun 5, 2013. 08:30 AM | Likes Like |Link to Comment
  • MF Global Holdings' (MFGLQ.PK) trustee, Louis Freeh, yesterday stepped down and handed the job of liquidating the firm's estate to a three-member board, essentially ending the company's bankruptcy process. While the plan was approved in April, it could only go into effect when certain conditions were met, with one being that the estate would have enough money to pay its liabilities. Customers at MF Global's brokerage are expected to receive a full pay out. [View news story]
    A just resolution to the MF Global Holdings mess would have involved Jon Corzine getting to wear an orange jump suit for a few years.
    Jun 5, 2013. 05:58 AM | 1 Like Like |Link to Comment
  • Argentina's Supreme Court has overturned a judge's order to freeze Chevron (CVX) owned assets in the country, opening the way for the company to proceed with a $1.5B venture with YPF (YPF) to develop shale oil and gas. Chevron's assets were initially frozen at the request of Ecuadorean plaintiffs who are trying to enforce a $19B award against the oil major over toxic waste in the Amazon. [View news story]
    I hope the CVX lawyers read the fine print at the bottom of this ruling:

    "This ruling is binding only until Madam President once again decides she needs to gin up public support for her continued rule."
    Jun 5, 2013. 05:55 AM | 2 Likes Like |Link to Comment
  • The Mortgage REIT Bloodbath: How To Protect Your Portfolio [View article]
    Great stuff, Kid. Thanks for putting this together and publishing it.
    Jun 4, 2013. 06:11 AM | 2 Likes Like |Link to Comment
  • Business development companies (BDCS -1.1%) see some selling as higher interest rates threaten to offer at least minor competition to their fat dividends. The drop in junk bond prices - a decent proxy for the assets on their books - isn't helping either. Leading on the downside today: Main Street (MAIN -4.5%), American Capital (ACAS -2.4%), Prospect Capital (PSEC -1.4%), Ares Capital (ARCC -1.1%), Blackrock Kelso (BKCC -1.1%). [View news story]
    I got back into MAIN and started a new position (for me) in MCC today. This sell-off, as usual, seems a bit overdone.
    Jun 3, 2013. 01:07 PM | 2 Likes Like |Link to Comment
  • BDC Risk Profiles: Part 8 - Credit Quality [View article]
    ARCC did an increase (37 cents to 38 per quarter) and paid a 5 cent supplemental dividend in September of '12, and then paid another 5 cent supplemental along with the December 2012 dividend. You might get another raise in December, but I think the first quarter or two of '14 is more likely.

    Thanks again for the articles, Buzz. They've been great.

    Disclosure: long ARCC (and several other BDCs)
    Jun 1, 2013. 07:09 AM | Likes Like |Link to Comment
  • Youth unemployment (a growing concern in Europe) hits disturbing levels across the eurozone periphery: Italy, 40.5% (previous); Portugal, 42.5%; Spain 58.2%, Greece, 62.5%. Spain has gone nearly three and a half years without a monthly drop in the metric. A sure sign of "dis"union: Germany's youth unemployment rate is at a 20-year low. [View news story]
    This would normally be a sure sign of a coming revolution, but I doubt most of the current "youth" in those countries has the self-motivation or organizational skills to carry one out; probably not enough of either to even attempt one.
    May 31, 2013. 03:11 PM | 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]
    Ah, yes, that shiny new Harvard's a dose of reality to wash it down with...
    May 30, 2013. 02:14 PM | 1 Like Like |Link to Comment
  • Wait For Occidental Petroleum's Plans Before Jumping In [View article]
    That's how I read it, too. Which means, of course, you'll pay more per share after the plan is announced if things turn out that way. (shrug) I'm adding more here and there now, on dips back below $90/share, a small batch at a time.

    Disclosure: long OXY
    May 30, 2013. 01:05 PM | 2 Likes Like |Link to Comment
  • Japan has canceled an offer to buy U.S. grain after authorities found an unauthorized strain of genetically engineered wheat on a farm in Oregon, with South Korea, China and the Philippines monitoring the situation. The wheat was developed by Monsanto (MON), which could face a hefty compensation bill if the boycott spreads - Bayer CropScience had to pay $750M to crop growers in 2011 over contaminated rice. Wheat futures are -0.6%[View news story]
    Luddites unite! And starve!
    May 30, 2013. 06:28 AM | 2 Likes Like |Link to Comment
  • Can't make this stuff up. Moody's upgrades its outlook on the U.S. banking system (XLF) to Stable from Negative, citing "continued improvement in the operating environment and reduced downside risks to the banks from a faltering economy." The outlook had been Negative since 2008. [View news story]
    Well, just in case there were still 5 or 6 people out there who didn't know how utterly useless the ratings agencies were and are, Moody's wanted to make sure those few got the message, too. It's like a public service of sorts.
    May 28, 2013. 11:26 AM | 3 Likes Like |Link to Comment
  • Earlier this month, ISI's Greg Gordon flagged Sen. Barbara Boxer as a potential stumbling block for Edison International (EIX) in its bid to restart the idle San Onofre nuclear power plant. That warning wasn't unfounded. Boxer is now calling for a Justice Department investigation based on a 2004 letter she says leads her to believe "that EIX internationally misled the public and regulators" about equipment issues prior to a radiation leak. EIX says the documents are proof of its "careful oversight." (AP[View news story]
    Gordon predicting that sort of behavior out of Boxer is like predicting the sun will rise the next morning. Not a whole lot of skill or insight required there.
    May 28, 2013. 07:18 AM | Likes Like |Link to Comment