Seeking Alpha


Send Message
View as an RSS Feed
View Hammer1's Comments BY TICKER:

Latest  |  Highest rated
  • Krugman Says Raise Inflation [View article]
    Then there is the "dirty little secret" about the call for higher inflation: it will help mitigate the impact of our increased national debt burden. Higher inflation means paying back in cheaper dollars. This looks like the only alternative absent fiscal discipline which seems increasingly impossible.
    Nov 3, 2015. 02:24 PM | 2 Likes Like |Link to Comment
  • Bill Gross: A Sense Of An Ending [View article]
    As an old bond guy from the 70's and 80's, your comments hit home. It seemed to me that the rules of the game flipped about 5 years ago and nothing has made much sense since then. I understood the investment positions your took back then and empathized with the underperformance. Thanks for doing such an intelligent job of putting all of this in perspective. Almost everyone I know from our vintage has capitulated to the new normal in capital markets. But, they are wondering if it really is different this time or, if things will be different until, all of a sudden, they aren't. This seems to be what you are saying. They remain cautious, underinvested. Do the "bond vigilantes" still exist?
    May 4, 2015. 11:58 AM | 5 Likes Like |Link to Comment
  • Can EOG Resources Grow At 25% With Oil At $65? [View article]
    There are some similarities here to the 2007-09 period when E&P stocks were last under severe pressure. Some investors took it on the chin back then when they bought decent smid cap companies that were down 50-60% only to watch them decline another 50%. A good example of that in today's market is SN. So, It is just about time to be sifting through the proverbial rubble to find the survivors, doing the doomsday analysis. Right now there is little differentiation. But, the good ones wil be 2-4 baggers over the next several years. Richard, you are helping. Thanks again.
    Dec 10, 2014. 07:27 PM | 1 Like Like |Link to Comment
  • Can EOG Resources Grow At 25% With Oil At $65? [View article]
    Richard, I always enjoy your articles. They are well researched and presented concisely. This one is no exception, confirming that EOG is a premier player in the sector.....with one glaring talk about probabilities of production growth but fail to discuss the projected decline in EPS, CFPS and EBItDA. It is also a given that the entire sector will get slammed on NAV early next year following new reserve and PV-10 numbers calculated on the 12/31 price of crude. These are the primary valuation metrics, historically, for the E&P sector, as you know. Some what/if scenarios would be very helpful in this regard. Thanks again
    Dec 10, 2014. 12:36 PM | 2 Likes Like |Link to Comment
  • New Zealand Oil & Gas: Reap A 7.6% Dividend Yield While You Wait For Stock To Double [View article]
    Michael, by chance did you do a cross-check on the auditors to make sure investors are getting quality financials? Thanks again for the fresh idea.
    Aug 11, 2014. 05:05 PM | Likes Like |Link to Comment
  • Good News: Risk Aversion Is Declining [View article]
    Thanks for the thoughtful analysis. Re household de-leveraging....what happens to the chart when you factor in every household's share of the exploding national debt? The dramatic increase in Government borrowings and fear of the resulting increased cost to taxpayers, at normalized interest rates in the future, could be the "sub-rosa" reason behind the de-leveraging. Your thoughts on this?
    Jul 8, 2014. 10:22 AM | 1 Like Like |Link to Comment
  • Energy XXI: Positives Mounting For Gulf Oil Play [View article]
    Having followed both of these companies closely for the past 8 years and been long EXXI and then EPL, my view is that this merger is positive for shareholders long term. There are significant synergies, both operationally and strategically. Here's a different way to look at it: EXXI/EPL will be doing in the shallow water GOM what PXD and others are now doing in the Permian.....enhancing development of and breathing new life into older, prolific oil deposits using new technology and production techniques. EPL has built their company on this expertise. Shiller is known for his operational prowess. This has a chance to be very good. In addition, the combined company still offers optionality in natural gas. Both have gas acreage that is being neglected for obvious reasons. EXXI is still involved with FCX and Jim Bob Moffett in the Blackbeard projects, deep gas potential, with flow tests possibly coming this summer. Raymond James analyst gets it. Upgraded EXXI today.
    May 20, 2014. 07:34 PM | 1 Like Like |Link to Comment
  • Willbros Group: A Turnaround In The Making [View article]
    I have a good basic understanding of how WG works and am a past owner of the stock. You have done a commendable job of presenting recent problems being solved and business opportunities going forward. Management has turned positive, not for the first time. We have heard that tune before. Why should we be believing them now? Thanks
    Dec 1, 2013. 09:26 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    deer creek...thoughtful comment, and you are to be commended. The pressure on Corzine should be sustained until he is held accountable. You are the only I see trying to do this on this sight.
    "When you see men get rich more easily by graft than work; and your laws no longer protect you against them, but protect them against you; your society is doomed." -Ayn Rand (Atlas Shrugged)
    Nov 29, 2013. 08:58 AM | 5 Likes Like |Link to Comment
  • Daily State Of The Markets: Understanding The Romp Higher [View article]
    Jack - "My question is: what happens when interest rates return to norms?
    The average family today owes roughly $4,000/yr to service interest on their share of our national debt. At normal interest rates, that number easily goes to between $8-12,000. Totally unworkable because it implies a huge rise in income tax rates or unacceptable cuts in the Federal budget. THIS IS THE ELEPHANT IN THE ROOM.
    Politicians and the media have totally failed the public in explaining this situation. IMO there will be no political or social will to endure a period of austerity, one of the two solutions. The second choice, monetization of the debt, is the easy way out but is a slow death.
    With other countries choosing the same monetary path, it could be a race to the bottom.
    Nov 15, 2013. 09:27 AM | Likes Like |Link to Comment
  • Is Obama Right To Deny Keystone XL? The Advantages Of Oil By Rail [View article]
    Let's keep it simple and focus on the big picture folks. We should be looking at the situation in terms of North America (U.S., Canada, Mexico). Building the new pipeline captures oil from our Canadian friends and keeps it in N. America. By dissing Canadian oil, it will ultimately end up overseas, likely in the Far East. That can only mean higher prices for consumers and diminished energy independence. Objections to the pipeline have bordered on the hysterical, with no logical conclusions. The pipeline will provide much needed jobs (with no government assistance), lower energy costs, and will be environmentally safe. Those are the facts. The President's obstinance can be traced to two things high on his agenda: his obligations to the "greens"; and his desire to maintain higher fuel prices so as to curtail consumption and promote hybrid/electric transportation. But, that's another discussion....
    Nov 14, 2013. 11:46 AM | 5 Likes Like |Link to Comment
  • CEF Investors: Your Window Of Opportunity Is Beginning To Close [View article]
    Author, LB and others. Useful article and thanks for the comments.
    Oct 19, 2013. 11:59 AM | 2 Likes Like |Link to Comment
  • CEF Investors: Your Window Of Opportunity Is Beginning To Close [View article]
    "The overlay of seasonality with these funds as it relates to tax selling is paramount. " Could you please comment briefly on this? Tax season is soon to be upon us and a number of these funds seem to be down for the year. Thanks
    Oct 19, 2013. 11:14 AM | Likes Like |Link to Comment
  • Daily State Of The Markets: The New Inflation Problem [View article]
    Everyone shouldn't forget that monetizing our increasing federal debt burden is the only politically acceptable way out of our mess. Of course that means heightened inflation. But, these well meaning economic "experts" will be long gone when that happens. To paraphrase an old quote....things are never the same until, all of a sudden, they are (referring to a lack of inflation concerns). A stunning reminder of this is what the bond vigilantes did to Treasury yields over the past 60 days.
    Aug 16, 2013. 09:08 AM | 1 Like Like |Link to Comment
  • It's shaping up as another difficult day for Linn Energy (LINE -9.3%) and LinnCo (LNCO -8%) after yesterday's selloff. After a round of downgrades, Stifel Nicolaus today cut its price target on both to $33 from $48. Selling the put portfolio would not be a wise option, the firm says; Linn would shed some controversy but sacrifice possible future cash flow. Baird cautions broadly on upstream MLPs; BBEP -9%, ARP -7.1%, VNR -6.3%, QRE -6.2%, EVEP -3.2%[View news story]
    Can we please focus on the basics and see if anything has changed......LINE has a policy of hedging its production out 5 years to smooth out and add predictability to cash flow......right? Isn't booking profits on these hedges when realizations drop in order to maintain distributions what they are supposed to do? Isn't this reduced exposure to oil and gas price fluctuations one of the attractive features of the stock? Isn't sophisticated hedging one of the core competencies of LINE? Doesn't the company have a competent accounting firm certifying their financials? Can't we shelve the hysteria, take a deep breath and not jump to unwarranted conclusions? What am I missing here?
    Jul 3, 2013. 12:44 PM | 12 Likes Like |Link to Comment