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Philo Beddoe

Philo Beddoe
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  • 6 Scary Charts On The Hyperinflationary Cliff [View article]

    I agree with everything you have said. For the few people who were listening the taxing/spending argument was made during the election that ended six weeks ago. You see how that worked out. You can't beat Santa Claus and his free stuff. Class warfare has always worked and it always will until it's too late and people realize that there is no Santa Claus. By that time the one who conned you into believing he was Santa will be retired and living like a king on a fat government pension. Isn't politics wonderful.
    Dec 16 10:02 AM | 7 Likes Like |Link to Comment
  • Pronouncing itself "unapologetically bullish," Merrill Lynch has a 1600 target on the S&P 500 next year. The key will be a strengthening economy once the U.S. gets past the cliff worries. Combine better growth with a still-easy Fed, and you'll also get $2k gold, says Merrill's commodity team. [View news story]
    Merrill Lynch says 1600 on the S&P. Maybe, however their crystal ball didn't work good enough for them to avoid going down the tubes. I'll take anything Merrill says with a grain ( or two ) of salt.
    Dec 12 04:35 PM | 2 Likes Like |Link to Comment
  • A Rare Buying Opportunity: S&P 500 Return Forecast Is Up To 19.2% [View article]
    I guess that's what makes a market because I'm taking the other side of that bet. Headline numbers today, unemployment drops to 7.7%, 146,000 jobs created, 540,000 dropped out of the workforce. If we could just get another 30-40 million people to stop looking for work we would have unemployment down to what???, 3-4%. I bought a boatload of SPY puts today near the close.
    Dec 7 04:39 PM | 17 Likes Like |Link to Comment
  • PIMCO's Gross Again Recommends Gold [View article]
    Could it be that Bill Gross has finally realized that the paper he has traded for "oh! so many years" and made him a billionaire will soon have more value as a wall covering in his house? Well, better late than never.
    Dec 4 06:39 PM | 2 Likes Like |Link to Comment
  • 3 Fearful Stocks For The Greedy Investor [View article]
    Buy BTU Leaps, go golfing and come back filthy rich in 18 months under president Romney.
    Jul 28 09:19 PM | 2 Likes Like |Link to Comment
  • The Myths Of The Silver / Gold Ratio: Don't Buy Into It [View article]
    I'm not well versed enough to get into a debate on the gold/silver ratio with you. However, I do know of someone who has forgotten more about this than either one of us ever knew and would love to debate you and that person is Eric Sprott.
    Mar 14 06:44 PM | 6 Likes Like |Link to Comment
  • Welcome To The Drunken Chicken Market [View article]
    As usual, great food for thought Joe,

    I'm trying to keep what powder I have left dry, I've been in and out of short term SLV options this past summer with reasonable success. For the past month or so I've been buying MRO JAN 2013... 35 calls in the high .80's to low .90's. Fair value estimates make them appear to be very, very cheap. The same can be said for long term calls on Suncor. I will become more aggressive as it becomes more and more evident that Obama will be a one term president.
    Best of luck to all of you that have been fortunate to discover Joe and the vast knowledge he freely gives on this site.
    Oct 14 05:46 PM | 3 Likes Like |Link to Comment
  • More Signs of a Top in the Rare Earth Stock Bubble [View article]
    MCP, the quintessential "greater fool" play of 2011
    May 11 06:51 PM | 2 Likes Like |Link to Comment
  • More Signs of a Top in the Rare Earth Stock Bubble [View article]
    I have some May 60 MCP puts which, after today's earnings announcement or should I say earnings shortfall, will hopefully treat me very nice in the next day or two.
    May 10 04:54 PM | 1 Like Like |Link to Comment
  • Molycorp Moving From Miner to Manufacturer [View article]
    "The company today said that it would buy Santoku America, a subsidiary of a Japanese company, through one of its own subsidiaries, called Molycorp Minerals, for $17 million"

    Well, this $17 million purchase should add about $600-700 million to Molycorp's market cap by noon tomorrow if past performance is any indication. LOL!!
    Apr 18 08:35 PM | 3 Likes Like |Link to Comment
  • Rare Earth Sector Sees Major Developments This Week [View article]
    Jack Lifton has a number of thoughtful questions about the Estonia purchase. The one question I keep asking is how does buying a 90% interest for 89 million dollars in a virtually unknown processor justify an increase of about 800 million dollars in Molycorp's market cap. Especially when they aren't expected to begin any meaningful production until sometime in 2012. Things are getting a little frothy here.
    Apr 8 09:12 AM | 11 Likes Like |Link to Comment
  • Rare Earth Miner Molycorp Acquires European Front [View article]
    I own a boat load of "rare earth" stocks. Most are EXTREMELY undervalued. As a one man hedgefund I short the overvalued, mania stocks like MCP. I increased my short position today by buying more long term puts on MCP and will continue to so if it increases in price. I've learned after 40+ years of investing that patience is indeed a virtue.

    Good luck to the longs who are trying to time the "greater fool" theory.

    See you at the bottom if your wife hasn't already killed you!
    Apr 4 05:41 PM | 2 Likes Like |Link to Comment
  • Rare Earth Miner Molycorp Acquires European Front [View article]
    They buy a 90% interest in a company for 89 million dollars and the Market Cap goes up 500 million dollars in one day. Looks like the dot com mania has arrived in the metals market.
    Apr 4 01:58 PM | 3 Likes Like |Link to Comment
  • St. Joe: The Absurdity of the Leucadia Airport Comp [View article]
    From the earlier comments on this article I always think of the phrase: "Me thinks thou protests too much". I'll start buying puts this week as the action warrants. But WTFDIK, I've only been doing this since 1968!
    Apr 3 06:41 PM | Likes Like |Link to Comment
  • Imperial Oil: King of the Wild Frontier [View article]
    According to numerous reports today it appears that Harpo and Flathead ,aka Harper and Flaherty, the (two pieces of garbage that ruined Royalty Trusts, and cost me a six figure loss after they said they wouldn't touch them) , I mean the two leaders of the conservative party in Canada who did the exact opposite of what they said they would do regarding trusts in 2006 are about to become toast. I couldn't be happier with that, but, how will this affect your above scenario?
    Mar 23 06:54 PM | Likes Like |Link to Comment