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Qniform

Qniform
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  • Added To The Permanent Portfolio (PRPFX) Mutual Fund [View article]
    Looking back at the great depression, I'd think that some utility stocks would be on the list as well. Of course, ATT is off the list now. Maybe staple food producers?
    Jan 16, 2015. 12:30 AM | Likes Like |Link to Comment
  • The Energy Sector - Risk Or Opportunity? The S&P 500 2015: Part 2 [View article]
    Dave, eight or nine repetitive paragraphs (when one or two would suffice) is rather over the top. Not to mention that the impression might be left that actual quantities of oil in the ground appear and disappear based on human opinions. If the purpose of an SA article is communication, then the connecting the term "proven reserves" with economically recoverable oil could be much more succinctly done. Of course, if the entertainment value of a rather Victorian style appeals to you, that's another matter.
    Jan 15, 2015. 11:16 PM | 11 Likes Like |Link to Comment
  • Added To The Permanent Portfolio (PRPFX) Mutual Fund [View article]
    Welcome to the neighborhood. Can you say "deflation?"

    Back in 2009-10 I thought that deflation was a possibility since nothing the FRB did seemed to increase the velocity of money. After the apparent diminishment of that possibility, it seems to be on the table again.

    Is there any strategy for deflation other than cash (and sterling quality bonds)?
    Jan 15, 2015. 11:02 PM | Likes Like |Link to Comment
  • The Energy Sector - Risk Or Opportunity? The S&P 500 2015: Part 2 [View article]
    I have to say that I simply could not make it through the incredible verbose attempt at a description of economically recoverable oil. It really isn't that hard to describe is it? I can't wait for the corollary article that maintains that the supply of widgets is infinite at the right price.
    Jan 15, 2015. 04:51 PM | 8 Likes Like |Link to Comment
  • Added To The Permanent Portfolio (PRPFX) Mutual Fund [View article]
    Nice article. The Talmudic Rabbis strayed far from their source. Eccl 11:1 recommends investing (cast your bread upon waters) and 11:2 recommends diversification (7 or even 8 parts). As I recall, you're rather more diversified than that... :))

    I'm also long PRPFX.
    Jan 14, 2015. 09:51 PM | Likes Like |Link to Comment
  • American Realty Capital Properties: Activist Investor Implications [View article]
    Thx NS. It's certainly odd. Like there were discussions (with someone or other) that went another way after a month or so...
    Jan 14, 2015. 08:28 PM | Likes Like |Link to Comment
  • American Realty Capital Properties: Activist Investor Implications [View article]
    I'm only seeing the one purchase here http://bit.ly/17IWLVR.

    Did you look directly at sec.gov or something?
    Jan 14, 2015. 06:14 PM | Likes Like |Link to Comment
  • U.S. Shale Oil: What Doesn't Kill Me Makes Me Stronger [View article]
    It's very hard to credit that CLR slide absent further information. It doesn't seem possible that Bakken numbers could be correct given the transport cost. And if these are well head costs, then they're meaningless.
    Jan 14, 2015. 12:02 AM | 1 Like Like |Link to Comment
  • American Realty Capital Properties: Activist Investor Implications [View article]
    You're right. But As you pointed out, there may be major stockholders who are involved and/or talking with Corvex. There's ARCP, RCAP, NYRT, and/or any of the Cole non-traded stuff, which may influence Schorsch or other holders.

    I don't have a specific thesis, I'm just thinking out loud (or in print). There are a couple pretty expert commenters here, and my stupid ideas might get them to consider the next shoes that could drop. There's no doubt that ARCP history provides plenty of examples of unexpected events.
    Jan 13, 2015. 03:20 PM | Likes Like |Link to Comment
  • American Realty Capital Properties: Activist Investor Implications [View article]
    Re: the Corvex history with Commonwealth and the Portnoys, through their control of Commonwealth they also had a position in SIR, another Portnoy controlled REIT. It appears to me that they ultimately reached a deal where they walked away from any similar contest over SIR in exchange for the Portnoys walking away from Commonwealth.

    Since we have similar interrelationships with ARCP entities it would be wise to consider the potential circumstances where Corvex interests might diverge from other ARCP shareholders.
    Jan 13, 2015. 01:46 PM | 1 Like Like |Link to Comment
  • A Rational Valuation For American Realty [View article]
    Thanks nsolot. That info seems par for the course with ARCP (re: the reality check on that portfolio). I'm not really trying to figure these guys out too deeply, since others with far more expertise find the financials very difficult to decipher due to the rapid pace of deals. ARCP common is certainly not something I am buying for the long term.

    I only have a place holder position in the common, and rather more in the preferred shares. While both have turned in nice trading profits, I consider this company a speculative trading play. Not very attractive at this time even for that.

    Thank you again for the info.
    Jan 12, 2015. 12:27 AM | 1 Like Like |Link to Comment
  • The Corvex Bump [View article]
    Feel free to offer something new then. That is constructive criticism. Assuming that all potential readers of this article share your (alleged) understanding of the current situation with ARCP might just be an unwarranted assumption, don't you think? Do you think it might not be inconceivable that someone might find some benefit if they were beginning to look at the firm for the first time?

    Personally, I didn't find too much to applaud either - but it's a different matter to assume that my needs/wishes are the standard by which the world must operate.
    Jan 11, 2015. 06:24 PM | 5 Likes Like |Link to Comment
  • Dividend Payers Underperformed Non-Payers In 2014 And Equal Weighted Risk [View article]
    Ah, Cranky, great comments - as usual.
    Jan 11, 2015. 06:18 PM | Likes Like |Link to Comment
  • Why J.C. Penney's Strong Comps Aren't Yet A Game Changer For The Stock [View article]
    Put in perspective, the two good months were what the retail sector experienced in general. http://seekingalpha.co.... It's not really a good reason for the burst of euphoria over a "comeback."
    Jan 11, 2015. 02:05 PM | Likes Like |Link to Comment
  • The Corvex Bump [View article]
    As a follow up, is the drastic valuation change referred to in this article what actually happened earlier in 2014?

    This article link has an estimated $2.2 Billion for the proposed spin-off of 69 properties into a new entity (American Realty Capital Centers). http://bloom.bg/1AF4FsP

    Then in this article link we see what actually happened was a sale of 76 properties for $1.98 Billion. http://bit.ly/1AF4I7W

    Note that while the purchase price decreased by 10%, the property count increased by about that percentage. I haven't tried to find the lists of properties to compare (if they exist), but this is a rather wide valuation change within 2-3 months.
    Jan 11, 2015. 01:43 PM | Likes Like |Link to Comment
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