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  • U.S. drivers are paying an average of $3.72/gallon today for gasoline, the highest price ever on this date and even higher than the $3.717 average on Aug. 20, 2008, AAA reports. Prices range from a low of $3.43 in South Carolina to $4.32 in Hawaii. Arizona, Mississippi and New Mexico also have average prices below $3.50; California and Illinois are above $4/gallon. [View news story]
    Heres a recent ranking of gasoline prices by country: The high prices in many places are more influenced by taxes than by the fuel cost.
    Aug 20 03:42 PM | 4 Likes Like |Link to Comment
  • Goldman Sachs (GS) cut its holdings of Italian sovereign debt by 92% in Q2, according to its 10-Q, with credit-derivative positions actaully giving the firm a near-$1B short exposure. Caveat emptor - as Goldman was getting short, the sales team was busy recommending Italian paper to clients. [View news story]
    And you are surprised that they were recommending the position they were actively shorting? Business as usual at Goldman Sachs.
    Aug 9 01:33 PM | 1 Like Like |Link to Comment
  • How To Buy A Great Canadian Oil Company At A 34% Discount [View article]
    Your broker should be able to buy shares on the TSX. Better than using pink sheets.
    Aug 8 06:34 PM | 1 Like Like |Link to Comment
  • An International Bank Actually Worth Owning [View article]
    High inflation for the peso and capital controls are already in place. Foreign investment has all but dried up and Cristina wonders why.

    I wouldn't invest in Argentina now. After they collapse again, maybe land in the pampas.
    Aug 6 05:58 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    They trade in the U.S. and so are subject to the SEC regulations.
    Aug 6 12:12 PM | Likes Like |Link to Comment
  • Income Investors Should Still Be Buying Equities [View article]
    I agree, its better to file in his case. Even if he owes nothing.
    Aug 2 09:23 AM | Likes Like |Link to Comment
  • Income Investors Should Still Be Buying Equities [View article]
    If you are 54 and this is the first year you haven't filed in a long time you may trigger an IRS audit.
    Jul 31 05:08 PM | Likes Like |Link to Comment
  • Intelligent REITs Qualifying As Dividend Aristocrats [View article]
    WRE just cut its dividend by 31%. So much for it being in the "dividend aristocrat" category.
    Jul 27 01:28 PM | Likes Like |Link to Comment
  • During a lively Q2 earnings call (live blog), Zynga (ZNGA) partly attributed its poor results/guidance to changes made to Facebook's app discovery platform that favor newer games. Those changes led to a 34% Y/Y drop in users for live games. Zynga was also quick to blame $210M acquisition Draw Something, and is hoping online gambling (international markets launch in 1H13) will give it a lift. CEO Mark Pincus is drawing heat for selling $200M in stock in March. ZNGA -37.8%. FB -8%.  [View news story]
    Seems like Pincus sold at the right time.
    Jul 25 06:52 PM | 1 Like Like |Link to Comment
  • Cisco (CSCO) announces across-the-board layoffs of 6,500 employees, representing 9% of its regular full-time workforce. The cuts include a 15% reduction at the VP level and above, plus an additional 2,100 employees who elected to participate in a voluntary early retirement program. Shares -0.1% AH.  [View news story]
    About $38 million last year. Places him in the top-10 CEOs:
    Jul 23 06:17 PM | Likes Like |Link to Comment
  • Implications Of A Summer Drought [View article]
    For the affected farmers this is a losing situation. If you don't have product to sell, the price doesn't matter to you.
    Jul 19 12:32 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    But interestingly, China continues to have corruption problems despite the application of the death penalty. I guess its like the illegal drug trade, very high risk but very high reward and someone is always willing to "go all-in."
    Jul 19 08:57 AM | Likes Like |Link to Comment
  • American Capital Agency (AGNC) announces a secondary offering of 32M shares. The firm joins a rush of mortgage REITs taking advantage of a nice run in their stock prices to well above book value. Shares -2.2% AH. (PR)  [View news story]
    Clearly, I am wrong about the pricing. Demand will keep a premium in place over book value. I wouldn't be surprised to see the price drop a little from here though.
    Jul 18 12:03 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Holed up in the Ecuador Embassy last I heard. Looking for asylum from President Correa.

    We all know Correa is a great friend of freedom of expression (thats sarcasm).
    Jul 18 09:32 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    From North Las Vegas:
    Jul 18 08:39 AM | 5 Likes Like |Link to Comment