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David Sebastian

David Sebastian
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  • The Perfect Storm: Underfunded Pensions And Feeble Returns [View article]
    Thank You for this response.

    However, first, I work with a lot of professional business owners who have both Defined Contribution and Defined Benefit Plans and when combined together allow for very aggressive contributions. Even with low assumed crediting rates.

    Second, I have had many luncheons with a member of my states pension board. We are currently underfunded by about $50 billion. The assumbed crediting rate is about 8%. Tell me how the ever growing shortfall will be filled over the next 10-20 years if mandatory contributions are skipped, state income taxes cannot be raised for fear of loosing income (rich people can move and do), you can't renegotiate contracts and with the base fixed income rate is held down at around 2.10%. You will be hard pressed to achieve the 8% bogey.

    Finally, why can't we all just stand up and acknowledge that the math doesn't work. Let me say that again, the math doesn't work! To quote Gordon Geiko, finance is a zero sum game!
    Oct 22, 2015. 01:50 PM | 1 Like Like |Link to Comment
  • The Perfect Storm: Underfunded Pensions And Feeble Returns [View article]
    Thank You for identifying this problem. Please understand that in order to fix this problem Central Bankers the world over will have to reward the savers and raise rates. It can't be solved long-term by paying more for already expensive risk assets. What the Fed and other have to understand is that every coin has two sides. Time to start focusing on the other side!
    Oct 22, 2015. 11:55 AM | 1 Like Like |Link to Comment
  • Oil skies 10% as Venezuela reportedly asks for emergency OPEC meeting [View news story]
    Wait for Venezuela to default and maybe a big commodity trader / hedge fund to blow up and you will know this rout is over. Too soon!
    Aug 27, 2015. 03:03 PM | 8 Likes Like |Link to Comment
  • RBS Chief U.S. Economist Michelle Girard: H2 May Grow 4% Despite September Rate Hike [View article]
    Guys, please change the title. I actually read the articles and do the math. No way H2 GDP is going to approach 4%.
    Aug 17, 2015. 01:00 PM | Likes Like |Link to Comment
  • Skeptical Sentiment In A Sideways Market: Bullish Or Bearish For Stocks? [View article]
    Chris, in general I like your work and thoughtful process, but "valuations" are a lot different now than in 2003! I guess the question every investor has to ask right now is: "am I a fundamental investor or a price speculator."
    Jun 22, 2015. 03:47 PM | 1 Like Like |Link to Comment
  • SF Fed's Williams awaits higher inflation before rate hike [View news story]
    Thank You Anon for your accuracy. Difficult to find in today's world
    Jun 19, 2015. 01:39 PM | Likes Like |Link to Comment
  • Now Is The Time To Double The Strategic Petroleum Reserve [View article]
    Quick Question: How is this going to help "little ole me"?
    Jun 9, 2015. 03:02 PM | 2 Likes Like |Link to Comment
  • International Business Machines declares $1.30 dividend [View news story]
    Total BS! Leveraging Up to pay out dividends that they don't have. Sounds like a wonderful plan.
    Apr 28, 2015. 12:09 PM | 2 Likes Like |Link to Comment
  • Bill Gross: Games People Play [View article]
    What can I say! Bravo Bill. I like it.
    Jan 29, 2015. 09:09 AM | 32 Likes Like |Link to Comment
  • The New Battle Cry: Inflation Or Bust [View article]
    "Never say never" quote was taken out of context. You should actually go and listen of how it was stated.
    Oct 31, 2014. 04:03 PM | Likes Like |Link to Comment
  • The No. 1 Force Driving The Markets Today: Fear [View article]
    I am sorry, but how can it be that price never matters. And that global monetary policy is irrelevant. Markets like trees don't grow to the sky!
    Oct 24, 2014. 04:02 PM | Likes Like |Link to Comment
  • Apple event kicked off, iPhone 6 introduced [View news story]
    who cares! What does the "new gadget cost"?
    Sep 9, 2014. 01:56 PM | Likes Like |Link to Comment
  • Sell-side weighs in on Starbucks [View news story]
    Bottom line, and I know it is trite, but I am not going to pay $2.25 for a grande coffee. ($2.25 x 20 x 12 = - $540 per year) It's not that I can't afford it, l'll just do without. And I was frequenting one of their top stores in Summit, NJ. I still drink Starbucks coffee, but I make it at home.
    Jul 25, 2014. 12:19 PM | Likes Like |Link to Comment
  • Market Timing Report: Risk Soars As Bond Spreads Collapse [View article]
    70% of 1950 equals 1365. Ouch! When will folks learn that investment returns are not linear?
    Jun 16, 2014. 01:22 PM | Likes Like |Link to Comment
  • Trulia rises following positive traffic data; Zillow also up [View news story]
    I am sorry, tell me again how they make money?
    Jun 13, 2014. 11:42 AM | Likes Like |Link to Comment