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  • Wall Street Breakfast: Must-Know News [View article]
    Exactly, Italian banks won't go to zero imo, but its down from here. Look at the large Spanish banks like Santander and BBVA over the last three years and the pattern of decline and then stabilization could be similar for the large Italian banks.
    Feb 21, 2013. 08:15 AM | 1 Like Like |Link to Comment
  • 3 Less-Known MLPs With Strong Growth Prospects [View article]
    He surely didn't have the 4Q results when the article was written. They are doing a good job of increasing pipelines and pipeline revenue. They also got a boost from being included in the S&P 500.

    Unfortunately for them, coal is hopeless. No recovery on the horizon for that part of their business. It could be worse though, at least they don't operate any coal mines.
    Feb 20, 2013. 11:11 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Kloppers leaves behind a legacy of failed merger attempts (POT, RIO), poorly implemented strategies (diamonds, coal, Petrohawk purchase, etc.) and mediocre operating results. Just my opinion of course.
    Feb 20, 2013. 10:20 AM | 1 Like Like |Link to Comment
  • 3 Less-Known MLPs With Strong Growth Prospects [View article]
    Unfortunate timing on PVR, its being hammered today due the report of results from the fourth quarter. Pipeline volumes are increasing, but coal tonnage & revenue are both down significantly. Here is the report:
    Feb 20, 2013. 09:52 AM | 1 Like Like |Link to Comment
  • 2013: Another False Start [View article]
    Here is Lynn Energy's response to the Barron's article:
    Feb 18, 2013. 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, 2013. 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, 2013. 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, 2013. 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 ( Isn't that similar to a "managed distribution?"
    Feb 17, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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:
    Feb 6, 2013. 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, 2013. 06:08 PM | Likes Like |Link to Comment