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Dave Remington

Dave Remington
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  • A Seriously Siri-Less Apple [View article]
    Siri was developed at Stanford Research Institute and patents were acquired by Apple, as I remember it. Suggest you are confusing speech recognition (Nuance) and natural language processing, which most definitely is not the same thing. The first is speech to text; the second is processing the text input to text output, which can then be converted back to speech. Nuance does not own Siri.
    Oct 1, 2014. 01:01 PM | 5 Likes Like |Link to Comment
  • 9.8% Dividend Payer Breitburn Energy Partners Turned In An Ugly Q1 - What's The Outlook? [View article]
    Anybody have any insights into what has been happening with BBEP's stock price this week? Big volume. Looks like shorts, but on what thesis?
    Jul 5, 2013. 09:48 AM | Likes Like |Link to Comment
  • The Devil In The Details: Eagle Bulk Shipping's Debt Restructuring [View article]
    So, why not short it, or sell calls, or buy puts?
    Aug 21, 2012. 03:37 AM | Likes Like |Link to Comment
  • Friday Charts: Hoarders, Housing And More Bullish Signs [View article]
    Not sure I share your optimism with regards to the % of cash and other liquid assets. The amount ot cash is only the result of past profitable operations. It does not say the base business will grow, in addition to being profitable at the current level of operations. One grows by reinvesting in the business or by acquiring other businesses. Yet, reinvestment is not happening enough to soak up the cash, and M&A activity is at a low. Seems that the cash and other liquid assets % shows that corporations are not finding sufficient good opportunities to spend the cash in their business, or to buy other businesses. If they cannot find opportunities to deploy cash at rates of return higher than their cost of capital, then there should be an increase in stockbuybacks, special dividends, etc. From what I have seen, this is exactly what has been happening. So, nice to have cash, but it may be an indicator that the future is not quite so rosy in terms of growth. Indeed, there are not many companies that are guiding higher, who are openly bullish on the future. They are more guarded than they have been in the past, although, like always, there are exceptions. TV talking heads have commented on this over the last two weeks. The coming earnings season will be interesting in this regard.
    Mar 30, 2012. 04:22 PM | 1 Like Like |Link to Comment
  • Dividend-Payers Vs. Dogs Of The Dow For February [View article]
    Why four months? Why not six or 12? What happens when you use other periods?
    Mar 4, 2012. 07:45 PM | Likes Like |Link to Comment
  • Atlas Pipeline Is A High-Yielding, Beneath The Radar Stock [View article]
    Suggest going to their website and reading their earnings release. Adjusted EBITDA forecast is $200-225M. Debt to capital ratio is not that high (30%). Cash on hand is not that important, and should not be much, as it does not earn one much, and much less than interest on debt. BTW, the cost of debt capital is lower than than that of equity capital -- to achieve the lowest possible weighted average cost of capital one should have some debt (just not too much, which implies a question that can be debated -- how much is too much -- which has to do with coverage ratios, worst case scenarios, etc.). Do not view corporate debt like one would personal debt.
    Mar 1, 2012. 10:54 PM | 1 Like Like |Link to Comment
  • The Baltic Dry Index pulls out of its death spiral to show a 1.9% gain. The move has all the earmarks of a dead cat bounce - instead of a confirmed market bottom - with shippers still willing to accept unprofitable charters due to an industry-wide oversupply of ships and weak demand. [View news story]
    Anybody notice that Blackrock has now gotten to over a 5% ownership in EGLE? Is the smart money really smart and are we missing something? Why the run-up to EGLE's stock recently? Do they know something all the doomsayers re: dry bulk shipping don't know?
    Feb 13, 2012. 10:45 PM | Likes Like |Link to Comment
  • Déjà Vu With A Vengeance [View article]
    Yes, this is possibly way out there, but what is wrong with old fashioned taking of deposits and making of loans -- only (except for capital market borrowing)? Why the need for CDS's? What portion are for true hedging? Isn't there a zero-sum game within the group of top providers, and therefore an unhedgeable net risk exposure across all, so that when very bad things happen, very bad things happen to at least some of those too big to fail? One cannot, I assume, completely hedge the aggregate book of all providers. Are not CDS's, looked at across the system and taken as an aggregate, not but an imprudent risk taken in the pursuit of fees?
    Separately, recommend "Endgame: The End of the Debt SuperCycle and How It Changes Everything" by John Mauldin, "This Time is Different: Eight Centuries of Financial Folly" by Reinhart and Rogoff, and "The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation" by A. Gary Shilling. There are no not-painful fixes, these all argue, for recovering from over-leveraging.
    Jan 16, 2012. 08:26 PM | 1 Like Like |Link to Comment
  • Adding Alcoa To My $100,000 Portfolio [View article]
    Alessandro,

    Please tell us more about why you went to the SEC and what the SEC did.

    Thanks,

    Dave
    Jan 6, 2012. 09:40 AM | Likes Like |Link to Comment
  • The DryShips Disconnect [View article]
    Comment on ORIG 75% stake being worth $15 x number of shares. That is about what they are paying for them ($11.25 + 0.52 shares of ORIG). Before the M&A announcement, ORIG was at ~$7/share. That is, what you pay for something is not necessarily what it is worth. I would not impute DRYS's worth from what it is paying for OCNF, or what the share price of OCNF is prior to acquisition, as it is driven by what DRYS's has offered, not necessarily by intrinsic value.
    Oct 6, 2011. 09:35 PM | Likes Like |Link to Comment
  • New Aluminum ETF: Supply vs. Demand [View article]
    Any word on timing of physical AL ETF?
    Jan 6, 2011. 11:54 AM | Likes Like |Link to Comment
  • Aluminum: A Market Out of Whack [View article]
    Private investor, retired investment banker and CFO.
    1. An AL physical holdings ETF is scheduled to be registered in Q1 next year by ETF Securities. AL ETFs could take 2-3mtons off the market according the UC Rusal.
    2. A number of new plant re-openings have recently been announced as the demand situation looks significantly better.
    3. Analysts have recently been revising their estimates of price/lb. up to as high as $3,000/mton in 2011, with $2,600 in Q1.
    4. The LME price is already much higher than in August, at about $2,300mton, with backwardation of $25 or so between cash and 3M. This usually is a sign of demand. Whether it comes from financial folks or producers, should I care?
    5. What most definitely has changed is that China has moved from an exporter to an importer, with this change having some near-term permanence, due to the closure of facilities upon orders from the government, in turn due to the need to ration electricity. UC Rusal thinks that Chinese demand go increase to by 2015.
    6. Another thing that has changed is that the high price of copper is likely to cause some substitution of AL for CU.
    7. Not only do we have growing Chinese demand for AL, but the developing world is showing increased demand.
    8. At $2,600/mton the stock prices of AA and CENX were much higher than they are now. Doesn't the possibility of $2,600/mton in Q1 mean the possibility of substantial gains in price of AA and CENX, as well as others? I think so. My conclusion is that things have indeed changed. Maybe this was not true in August, but I would argue that they are now. So, should you believe what Rio is saying about the AL market, or UC Rusal and AA. I have voted with the later two.
    Dec 16, 2010. 11:56 PM | Likes Like |Link to Comment
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