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  • "For the past decade, Wal-Mart (WMT) and other nonfinancial firms have been rebuffed in their efforts to enter the banking business," NYU professor Larry White writes (.pdf). "And – no surprise – the regulators have been congratulated by incumbent banks, which don’t relish the prospect of competition from brandname retailers. I believe that preventing entry into banking by an otherwise successful company prepared to meet prudential standards is always a mistake. The error is particularly egregious in the case of Wal-Mart, because the giant retailer caters to moderate-income households – precisely the households poorly served by the banking establishment."  [View news story]
    Would WMT have been susceptible to the same rapacious greed which felled Wall St and the big banks? Probably so. Imagine how much worse off we'd be if that had happened....
    Apr 29, 2009. 02:52 PM | 2 Likes Like |Link to Comment
  • Peculiarities of the Current Rally: Where Do We Go from Here? [View article]
    Interesting thoughts, thanks.
    Apr 29, 2009. 08:23 AM | 2 Likes Like |Link to Comment
  • Sell Bonds and Buy Gold [View article]

    I was curious myself. Follow the link for a definition of 'iron condors':
    Apr 28, 2009. 08:56 PM | Likes Like |Link to Comment
  • Railroad Companies: Good, Better, Best [View article]
    Agree with CNI comments above.
    Apr 27, 2009. 01:33 PM | 1 Like Like |Link to Comment
  • FAA says plane circling Lower Manhattan is part of "photo op." (WSJ) Idiotic.  [View news story]
    Early reports indicate it was a plane full of Chinese government officials getting a "better look" at some of the property they'll soon be owning....

    Apr 27, 2009. 10:28 AM | 5 Likes Like |Link to Comment
  • Sustainable Bull Market Unlikely [View article]
    "Successful investors always focus on probabilities. Inexperienced investors are always looking for forecasts and predictions."

    Good article and sage advice, Chris. I wish I had heard this sentiment when I started investing several years ago, it would have saved me some losses and a great deal of anguish.
    Apr 8, 2009. 08:00 AM | 1 Like Like |Link to Comment
  • "Since 1987 we have seen the stock market crash, savings and loan debacle, Mexican financial crisis, Asian financial crisis, Nasdaq bubble, Enron collapse and now this," Larry Summers tells bankers this morning, urging them to cooperate with lawmakers in forging a healthier, bubble-resistant system.  [View news story]
    As long as we have humans creating and participating in the system, we will have bubbles. The key will be investors' ability to spot opportunity amidst the bubbles.
    Apr 1, 2009. 12:33 PM | Likes Like |Link to Comment
  • The Days of Buy and Hold Are Over [View article]
    Sean is correct. While 'buy and hold' may not be dead, it's been on holiday for awhile and may not come back soon. According to what I've heard from Wall Street for the last 20 years, the traditional 'buy and hold' phrase translated into the long term (eg, ~10 or more years and I suspect most folks have the same definition). That strategy doesn't seem appropriate for current market conditions, does it?

    Mar 31, 2009. 09:44 AM | 1 Like Like |Link to Comment
  • 5 10-K Themes for the Recession [View article]
    Thanks, Sean. Good read.
    Mar 26, 2009. 01:24 PM | 1 Like Like |Link to Comment
  • Reflation: Like Déjà Vu All Over Again? [View article]
    Thanks, Chris. Good stuff.
    Mar 25, 2009. 08:29 PM | Likes Like |Link to Comment
  • Time to Prepare for a Rally? [View article]
    Only two possible choices? I eagerly await your next update....

    "At this point, only two possible outcomes remain. Either the market stages a sharp rebound from these levels where those aggressively short realize large losses, or the rubber band breaks."
    Mar 10, 2009. 08:06 AM | Likes Like |Link to Comment
  • Ray Dalio: A Long and Painful Depression - Barron's Interview [View article]
    Wasn't there a big dust-up recently about whether a "buy-and-hold" strategy is dead? :-)

    Looks like it might be for the next 12-24 months. A trading strategy, riding the 20% up and then riding it back down might be the best approach.
    Feb 8, 2009. 09:25 PM | Likes Like |Link to Comment
  • Now's the Time for Buy-and-Hold [View article]
    Grand proclamations (eg, "buy and hold is dead") offer little value. My guiding principle has been to use the strategy that best suits the situation. In volatile times, with little short-term clarity available (the last 14-15 months for example), a trading strategy (or even an all- or majority-cash position) would be most appropriate. Once a bottom has been established (and good luck calling the bottom), a buy-and-hold strategy is most successful. To lock yourself into one or the other strategy is unnecessarily limiting.

    Have I made the right choices in every case? No, I haven't. But I've done much better than letting my money slowly disappear with a buy-and-hold approach over the last year.
    Feb 6, 2009. 12:59 AM | 1 Like Like |Link to Comment
  • Have We Reached an Historic Buying Opportunity? [View article]
    I was mildly annoyed, until I realized I was on ""

    Feb 3, 2009. 05:43 PM | 5 Likes Like |Link to Comment
  • Wednesday Outlook: Commodities, Emerging Markets [View article]
    I've seen you (and some others) mention "Da Boyz" who step in and buy whenever the Dow approaches 8000. Can you elaborate on this? Thanks.
    Jan 28, 2009. 07:46 AM | Likes Like |Link to Comment