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Ted Basset

Ted Basset
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  • AIG's huge run is halted for the moment as Goldman has seen enough, downgrading the stock to Hold. Still bullish on the AIG's business prospects, analyst Michael Nannizzi says it's priced into the stock. Further gains would need to come from a big dividend or buyback announcement, and he's not convinced AIG is ready to go there for just yet. Shares -2.9% permarket. [View news story]
    Confirms what we know...Brokers are more interested in trading than investing, and their time horizons are that of a fruit fly.
    May 7, 2013. 08:53 AM | 2 Likes Like |Link to Comment
  • The Paper World Of Brookfield Asset Management [View article]
    Marty and Lou, and that Markel guy, are probably very good at what they do. However, I suspect they would be the first to admit that not everything they buy works out as expected.If it were so, they would all own just one stock. Hey, and how about AAPL being the most widely-owned hedge fund favorite in 2012, as it swooned. Those were smart guys, too, weren't they? Oh well.
    Mar 13, 2013. 10:25 PM | 1 Like Like |Link to Comment
  • The Paper World Of Brookfield Asset Management [View article]
    Went from $20 in mid-1981 to $1 a year later. Heavy debt, assets overly-pledged, creative accounting that exaggerated cash flow and oil discoveries less than economic, still sitting in the Beaufort Sea 30-plus years later.
    Mar 12, 2013. 09:10 PM | Likes Like |Link to Comment
  • The Paper World Of Brookfield Asset Management [View article]
    Whether the author is right or wrong, longwinded or short, the questions he raises will NEVER be objectively addressed by the Canadian brokerage community who are too beholden to BAM for all the underwriting fees they are paid by these various issuers under the BAM umbrella. These are the same broker research departments who failed to see the collapse of Nortel, Dome Petroleum or the frauds of Bre-X or Sino Forest. Once the buzzards start circling, I wouldn't bet on the carcass.
    Mar 12, 2013. 08:50 PM | 1 Like Like |Link to Comment
  • TD Ameritrade (AMTD) plans to list shares on the NYSE instead of the Nasdaq beginning on April 25.  [View news story]
    A leveraged play on rising markets (volumes are always better), rising interest rates (make wider spreads on those idle client cash balances), the prospective return of the retail investor, and the comfort of a well-heeled 45% shareholder, TD Bank, Canada's best-managed.
    Apr 11, 2012. 09:34 AM | Likes Like |Link to Comment
  • Goldman Sachs (GS) would have you believe that all the government did was inject a little capital, so what's the big deal about $20B in bonuses? Joe Nocera freshens memories and counts the ways that taxpayers helped.  [View news story]
    The error was made by both the Bush and Obama administrations. Rather than clamp down on bonuses after the fact, a questionable move at best, the preferred route should have been as follows. To wit: In saving the financial system and the economy, beneficiary institutions have been force fed back to profitablility through the largesse of government programs. Above a certain ROE, based on historical norms, windfall corporate tax rates should have been imposed on the recipients. The bonuses accruing to the "fortunate to be there" executives would be kept by the taxpayer. This would have avoided the spectre of clawing back now going on.
    Oct 24, 2009. 01:02 PM | Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    A liar can usually spot a liar, so we'll call this a draw. Reminiscent of JFK's bullying U.S. Steel, Obama should be bigger than this. It's easy to take on Fox News and health insurers. Iran, Putin, the Israelis and Palestinians...that's quite another story. They simply ignore him, with impunity it seems.
    Oct 17, 2009. 08:54 PM | 9 Likes Like |Link to Comment