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losbronces

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  • 2013: Another False Start [View article]
    Here is Lynn Energy's response to the Barron's article: http://bit.ly/ZnLJzt
    Feb 18 09:17 PM | Likes Like |Link to Comment
  • Best Buy (BBY) is making its price-matching guarantee, initially a holiday season promotion, permanent. Starting on March 3, the company will match the prices of "all local retail competitors and 19 major online competitors in all product categories." The glass-half-full view: Best Buy will cut down on showrooming, rob online rivals of a major selling point, and change consumer perceptions. The glass-half-empty view: Best Buy can't afford to do this, given the extra overhead it has, and those who shop online on account of its convenience won't change their habits. [View news story]
    That is just about gone now. Sales taxes will be collected even for on-line sales.
    Feb 17 07:32 PM | Likes Like |Link to Comment
  • It's Gut Check Time For Gold And Silver [View article]
    Or not. These are the same banks that were selling gold at less than $300/oz levels in the 90s (those of Australia, England, Switzerland, Russia, etc.). Perhaps you don't remember that. Their argument was why hold an asset that pays nothing when you can rotate in and out of government bonds from various countries that pay interest. The CBs may be a contra-indicator.

    I don't think you should look to central banks for any kind of leadership on anything. They are political animals first and foremost.
    Feb 17 06:47 PM | 8 Likes Like |Link to Comment
  • Why You Must Change Your Strategy For 2013: Here's How... [View article]
    Thanks for your reply. It wasn't clear to me that they wouldn't support the policy of maintaining a 6% yield with some return of capital if required. Looking at the tax records (even for 2009), return of capital was not required to sustain an even higher payout given the long-term capital gains realized by the fund.
    Feb 17 12:41 PM | Likes Like |Link to Comment
  • Why You Must Change Your Strategy For 2013: Here's How... [View article]
    Doesn't PEO guarantee a minimum 6% payout based on the 12-month trailing stock price (http://bit.ly/YzwRHW)? Isn't that similar to a "managed distribution?"
    Feb 17 10:25 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    If his goal was to create a squeeze, he has already accomplished that.
    Feb 15 08:19 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I doubt anyone sees jail time over the options trades.

    Check the record, options activity exploded just prior to most of the major takeovers over the last three years. It was obvious to everyone but the SEC that information was released prior to being available to the general public. There were relatively few charges filed and those involved people who were incredibly arrogant (Using close relatives to make the transactions for example).
    I have WRE in my portfolio, its my only reit. I had been doing well with it writing OTM calls against those shares too, but now the premiums aren't there to justify that activity. So I haven't written any since the Jan 30s expired.
    Feb 15 08:18 AM | 4 Likes Like |Link to Comment
  • BlackBerry (BBRY) -6.1% after former chairman/co-CEO Jim Balsillie discloses he has completely liquidated his stake in the company. The stake was valued at $385M last March, when Balsillie resigned from BlackBerry's board after having already been removed from his other positions. Strategy disagreements reportedly played a role in his departure. Shares are now down 23% on the week. (13G) (yesterday[View news story]
    Maybe thats not a bad thing. Jim Balsillie wasn't exactly providing the leadership that BBRY needed over the last three years.

    Now he can focus on buying his NHL team (he has enough cash to do it on his own). But wait, the NHL doesn't want him as an owner. When you consider the history of NHL team owners that were approved (Jameson being the most recent example), I think that speaks volumes.
    Feb 14 09:23 AM | 2 Likes Like |Link to Comment
  • The Cream Of The Gold Crop [View article]
    With small exploration companies, you need to look at who is involved. That often will tell you all you need to know.

    The ratio of spending on advertising versus actual work is another indicator of the company's primary objective.

    Also, somehow this tremendous potential managed to escape the attention of any of the majors, mid-majors or established juniors who are looking for more reserves in politically stable areas. Truly amazing.
    Feb 8 08:58 AM | Likes Like |Link to Comment
  • The Cream Of The Gold Crop [View article]
    Just FYI, SLW also has streaming contracts with ABX, GG and Glencore AG. Those are not junior miners by any stretch of the imagination. And the ABX & GG operations are significant producers.

    Here are the current contracts: http://bit.ly/Pkdukr
    Feb 6 11:03 AM | 1 Like Like |Link to Comment
  • Barrick Gold (ABX) says it has started a process to sell its oil and gas unit, Barrick Energy, as the spread has grown between Alberta oil prices and the Texas crude price. Barrick Energy's sales are at Edmonton Par price, while the miner's energy costs are benchmarked against WTI. ABX does not say how much it expects to raise in the auction. [View news story]
    Not Canadian oil from Alberta, its down around $55/bbl. It sells at a huge discount to WTI crude because of the lack of transportation options.
    Feb 1 06:08 PM | Likes Like |Link to Comment
  • Barrick Gold (ABX) says it has started a process to sell its oil and gas unit, Barrick Energy, as the spread has grown between Alberta oil prices and the Texas crude price. Barrick Energy's sales are at Edmonton Par price, while the miner's energy costs are benchmarked against WTI. ABX does not say how much it expects to raise in the auction. [View news story]
    Seems like they are selling at the worst possible time. But then those project overruns have to be paid for.
    Feb 1 09:46 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I have had dealings in China while working for a Chinese company trying to recover money from a deal with another Chinese company (one with "Great Wall" in the name). Despite having all Chinese working on the problem, it was never resolved.

    Further to that Siwei no longer exists. In my opinion, CAT will only be able to recover money by going after the accounting firms that did the due diligence work. Just my opinion, but based on actual experience. We will see eventually.
    Jan 29 09:46 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    CAT is "aggressively looking into recovering losses from the $580M accounting fiasco at recently-acquired Siwei." The only way they will see any money is if they get it out of the two accounting firms involved. They will get nothing from Siwei, imo.
    Jan 29 09:02 AM | Likes Like |Link to Comment
  • Forget Herbalife. ViSalus is maybe a more impressive legal pyramid scheme and its majority-owner Blyth (BTH) the best value in the MLM sector, writes Akram's Razor. In addition to the more obvious reasons, weighing on the stock has been Blyth's required purchase of the rest of ViSalus, which - with the IPO market closed - the company doesn't have the resources for. That issue looks to have been resolved, and investors should now focus on ViSalus' rocket-like growth and its owner's low valuation. [View news story]
    I have no problem with someone making this type of presentation. It adds to the discussion of the merits of the company. Libel laws protect against outright fabrications.

    The performance of regulators in terms of catching frauds has not been very good over the entire history of the SEC. Many big frauds have been perpetrated for a long time. And when frauds are caught, its too late for the investors. So if someone wants to point out potential issues, more power to them. Even if they profit from those actions.

    People forget that Enron received praise from Alan Greenspan when he was still Fed Chairman as a model of the "new economy." Detractors were villified until the thing came undone.
    Jan 13 01:05 PM | Likes Like |Link to Comment
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