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  • Gold: On The Edge Of A Steep Cliff [View article]

    Your mom was right as my father was , but the property tax on raw land is very low , even in NYS , where I am.

    If I had put the same dollars into land as I did gold and held for the same time, even with the property tax ( which is deductible ). I would have seen a thousand times better return.
    Nov 16, 2015. 01:49 PM | 1 Like Like |Link to Comment
  • Gold: On The Edge Of A Steep Cliff [View article]
    You are absolutely right. Gold has become a joke as a long term investment , I currently own gold & gold miners and have for 30 years. I am barely even and if you take inflation into account I am underwater.

    It is not hedge against anything , if it was it would be at least twice what it is, given the way every country in the world is printing money and turmoil currently in the world.

    Over the next year I will be liquidating all of my gold positions. I should have listened to my father and bought land instead of gold. As he used to say "buy land , they are not making any more of it."

    They only way to play any commodity is short term both using both long and short strategies.
    Nov 16, 2015. 01:23 PM | 1 Like Like |Link to Comment
  • Reviewing CVR Partners LP: What Caused The 25% Price Decline? [View article]

    Nice well written piece on UAN. I am a 64 year old , that has a 5 figure position in this stock in his only retirement account , which is now down 5 figures. So, I guess I am probably allowed to comment.

    Like probably most of the folks my age or closer bought this for the distribution return , which was very nice.

    I just think at this point it would be foolish to sell , my wife grew up on a dairy farm , and cows eat a lot . So feed corn, the primary food in dairy, is the primary use of the fertilizer UAN produces.

    I think the Renetek Nitrogen acquisition is a smart move, acretive & scale. I do think they will reinstate the distribution soon, this is the only one they have ever missed, based on my conversation with their investor relations manager.

    I wish all of the current holders , including me the best.
    Nov 11, 2015. 02:20 PM | 5 Likes Like |Link to Comment
  • Why I Sold Berkshire Hathaway And Added Quality To My Portfolio [View article]
    Left Banker,

    Very nice straight forward & clear analysis and comparison. Your research background clearly shows here. I currently own 5 of the top 10 QUAL holdings. I am a semi -retired 64 year old former CEO , now adjunct college prof.

    I have been for a while considering doing the same thing you are doing with your portfolio , selling the individual stocks and using ETF's for a broader diversification and less volatility as you are.

    I have also come to the hard conclusion that I am a lousy trader and have traded in many different markets in my over 40 years of trading. Overall I am up a little but could have spent much less time, money and aggravation , if I traded less and held quality companies over a longer periods.

    I only follow a couple of SA contributors , but I will follow you now. Hopefully you will share more of your thoughts like this and your portfolio with your followers.

    Thanks again for your efforts.

    Oct 26, 2015. 03:32 PM | 6 Likes Like |Link to Comment
  • Why Blackstone Group LP May Have Further To Fall [View article]

    Excellent well thought out piece , probably the best I have read on SA regarding BX.

    BX is a very difficult complex company to value, I have owned significant positions in the company twice now, just sold my last position prior to the last earnings announcement , I thought the stock would sell off, I was right about the magnitude of the loss , but wrong on the reaction. Overall I have a negative total return.

    It is getting a little old reading on SA how smart Steve S. is , I get it, I am sure he is very smart. He earned about 600M last year for being smart , while most of his stockholders did not do so well, yes I know the majority of that comes from his dividends on BX.

    I think you are dead on, and for reasons you sight, the stock will probably fall further it may break the $30 mark. I think there is also some risk they will cut the dividend.

    I do not live far from Keuka Lake ( Ithaca ) and have relative that owns homes on the lake , beautiful place to live.

    Thanks for the time and effort on the article.

    Be well,
    Oct 20, 2015. 05:17 PM | 3 Likes Like |Link to Comment
  • My Thoughts On Gilead Sciences' Capital Raise [View article]
    Thanks for the response.
    Sep 16, 2015. 02:27 PM | 2 Likes Like |Link to Comment
  • My Thoughts On Gilead Sciences' Capital Raise [View article]

    As usual well written and thought out article.

    GILD was smart to do a bond offering at this time , buying stock back at this time would send a negative message.

    I think the management of the company is very solid and will deploy the capital wisely. I currently have a substantial position in the stock , with out of the money covered calls written against the position. It is the only pure biotech I currently own.

    I am watching Quintiles ( Q ) and Amgen for potential entry points , do you have any thought on either of these.

    Sep 16, 2015. 09:57 AM | Likes Like |Link to Comment
  • Bears Maul Alibaba, No Escape In Sight [View article]
    This article really adds nothing to the narrative. The fact that China is slowing down is nothing new to any intelligent investor in China, it has been slowing for quite a while.

    China is still growing faster than almost any other large economy in the world and represents a huge untapped market for the types of products that BABA sells to consumers.

    Does BABA have strong competition ? Could they be painting some lipstick on the pig ? Could the stock price fall further ? The answer to all these questions is yes.
    And how is that different than any other American company in a highly competitive retail market ?

    The closest American competitor to BABA is Amazon IMO. Have you taken a look at Amazon's multiple as compared to BABA ? So BABA is no more risky than many other large multinational retailers especially at it's current level.

    I currently have a position in BABA stock and hedged the position by selling calls against it outside the money.
    Sep 15, 2015. 04:59 PM | 4 Likes Like |Link to Comment
  • 5 Counterpoints To The Puzzling Attack On Alibaba [View article]
    BABA's reply to the Barons article is right on target , sloppy inaccurate journalism.

    Barons has really gone downhill , if I did the opposite of what they recommend most of the time . I would have done much better in my investing.

    I was a long time subscriber , cancelled my subscription a couple of years ago.
    Sep 14, 2015. 05:12 PM | 15 Likes Like |Link to Comment
  • Selling Apple To Avoid Stagnation And Boost Income [View article]
    If you believe Apple's price will be stagnant for a while , you should go out a couple of months and write an out of the money covered call against the full position you have.

    That will generate some additional income for you, without having to sell the position and also give you a little downside protection. I do this on all my current positions where it makes sense, including my current position in Apple.

    Be well,
    Aug 17, 2015. 11:40 AM | Likes Like |Link to Comment
  • Individual Consumption And The Irish Crisis [View article]

    It is not about individual consumption as a motivator to invest in Ireland , it is all about the reduced value of the EURO and the strong companies in Ireland that do a large portion of their business in exports.

    Be well,
    Aug 14, 2015. 01:35 PM | Likes Like |Link to Comment
  • Today's Fundamentally-Absurd Gold Stock Levels Aren't Sustainable [View article]
    If you want to stick your investment toe the gold miners very difficult world right now.

    I would respectfully suggest you do not buy the miners index but instead purchase GGN . This fund invest in gold miners , silver miners and some energy companies.

    It also pays an extremely attractive monthly dividend at the current time , it is able to pay such a high dividend by writing covered calls against most of it's positions.

    The dividend and diversification offer some downside protection.

    I am currently long GGN and some Canadian Mapleleafs & silver coins. I am underwater on my GGN position , but have no plans to sell as long as they continue to pay a very good dividend.

    Hope this helps those of you thinking of getting into gold miners.
    Jul 26, 2015. 04:26 PM | 6 Likes Like |Link to Comment
  • The REIT Bloodbath: Game Plan For 2nd Half [View article]

    Well written informative piece, what is your current position on international REITS , such as VNQI , thanks.

    Be well,
    Jul 7, 2015. 08:48 AM | Likes Like |Link to Comment
  • Profit From The Pharma Craze: Sell Gilead, Buy Taro [View article]

    Excellent piece on Taro , you make some extremely valid arguments for owning Taro. I am very long Gilead, which I believe has some upside at this point . I have no way of knowing how much and neither does anyone else.

    If I might suggest not selling Gilead at this point , but still begin to scale into Taro. You should protect the downside on both positions through trailing stops. Taro could just as easily fall with all the other biotech stocks , in many cases it has nothing to do with the company performance as much as the overall market.

    Again thanks for your excellent work on Taro.

    Be well,
    Jun 24, 2015. 11:25 AM | Likes Like |Link to Comment
  • CVR Partners: A High Yield Fertilizer Play Now On Sale [View article]

    I think you are dead right, I have been "very long" UAN for a significant time and have just added a little bit more to my significant position.

    They enjoy a very high level of comparative advantage over other producers. In addition they currently pay a very nice dividend.

    I , like you , believe the concerns are way overblown and certainly do not justify the recent drop in the share price. The US demand for nitrogen based fertilizer , still exceeds the supply, that is why we are still net importers.

    This comment is not based on some "confirmation bias " on my part . My wife comes from a long line of farmers , who very much understand the use and supply / demand issues regarding fertilizer.

    Thanks for your always good work on UAN and other stocks you cover.

    Be well,
    Jun 18, 2015. 02:00 PM | 6 Likes Like |Link to Comment