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marpy

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  • Update: SouthGobi Resources Fined $18 Million [View article]
    IMO - South Gobi is just a puppet in the GOM's dispute with Rio Tinto and Turquoise Hill resources. They can not pick on Tinto or TRQ directly and so they pick on the subsidiary SGQ. Prosecutors sent the case back 3 times due to lack of evidence before finally caving to the politicians and moving forward in Mongolias corrupt courts. Rio Tinto and TRQ have an Iron clad contract enforceable in world courts and this is why the GOM chooses to dance around them picking on the weaker subsidiaries like South Gobi.
    Feb 2, 2015. 10:19 AM | 4 Likes Like |Link to Comment
  • How Canadian Banking Stocks May Act As A Defensive Play During Rough Periods [View article]
    Even during the great depression, Canadian banks did not cut dividends. CMHC insures a huge pool of mortgages but even in housing correction which is coming one of these days, the vast majority of owners will keep paying their bills. No NINJA loans in Canada. The Canadian dollar will follow oil prices and so most of the slide should IMO be over although some risk does remain for foriegn buyers. Note that BMO, RBC also have large US Divisions. JMO
    Jan 31, 2015. 10:13 AM | Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    tap water = .007 cents a gallon. Their is no comparison between the 2. water you get every time it rains and is the most abundant resource on the planet (ya I know most of it is salt and a lot of areas are desert - but it does not change the fact that it is the most abundant resource and salt water can be desalinated for zero dollars if you set up your own solar desalination.) Oil is a finite commodity that keeps getting more and more expensive to find.
    No Comparison
    Jan 31, 2015. 10:07 AM | Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    You need to look at what would happen if the Saudis did not maintain production. In 1985 they choose to support price over volume and the end result was that every one else kept producing more while they kept producing less. Their production dropped from over 10 million barrels per day to around 3. The end result was that oil dropped to $10 per barrel and took 20 years to recover. The biggest looser in all of this was the American producers as in the gulf states being the low cost producers were able to recover production first even if at lower prices. So IMO - they are doing the American producers a big favor by driving some discipline into this market. JMO
    Jan 31, 2015. 09:58 AM | Likes Like |Link to Comment
  • Canadian lenders give more ground as Barclays downgrades [View news story]
    Right now, everything that the banks have lent related to mortgages is protected by CMHC or private insurance. In other words - they are protected. If the rules change going forward, then I am sure that the lending practices will be adjusted accordingly.
    Also most of the guys that were working the big overtime and that are getting cut back and laid off are from out of province (East coast and other depressed areas). They will be going back to these areas. Real estate in these areas never went up much and so its not going down much either. They were not from Vancouver, Toronto, Calgary or Edmonton (the real estate boom areas.
    Jan 30, 2015. 03:29 PM | 1 Like Like |Link to Comment
  • Canadian lenders give more ground as Barclays downgrades [View news story]
    Yes the 80% is correct, my mistake - They are still very well protected from a correction. Buyers that do not have adequate funds for a down payment have to buy additional non government insurance. Also the bad risks that the banks will not lend to end up going to the secondary lenders that specialize in the higher risk lending (they are the ones headed for trouble).
    Jan 30, 2015. 03:22 PM | Likes Like |Link to Comment
  • Crude oil soars nearly 8% [View news story]
    Market manipulated down! market manipulated up! News that's not public yet? Its always a game that in the short run always leaves the little guy sucking at the rear end of things!!!!!!!!
    Jan 30, 2015. 03:18 PM | 5 Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    Batten down the hatches and save your cash boys!! No use wasting money on drilling uneconomic wells!!!Saudis and allies have made it quite clear that they will keep pumping as long as they have to. The sooner supply and demand gets into balance, the sooner we can see stability followed by a gradual price rise. And when things start to improve - Remember the Saudi's and their allies are watching!!!!

    JMO
    Jan 30, 2015. 03:14 PM | 1 Like Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    A lot of the gas was coming from oil and liquids wells. If you cut back on oil and liquids wells, you will have to drill for gas to meet any shortages for supply contracts.
    Jan 30, 2015. 03:09 PM | 6 Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    Shale well decline rates tell you output will be crashing a lot sooner than later!!!! JMO
    Jan 30, 2015. 03:07 PM | 5 Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    Oil up $3!!! Get ready for Saudis to land a few more large tankers full in Texas this weekend!!!! They want to keep the price lower for a while yet!!!!!

    Just entertainment as the real big market manipulators have their way with everyone else!!!!!!!!!!!!
    ;-)
    Jan 30, 2015. 03:06 PM | 5 Likes Like |Link to Comment
  • Canadian lenders give more ground as Barclays downgrades [View news story]
    A lot of the big Canadian banks are not that exposed to oil as they have already stress tested their balance sheets a number of times. Where they do have exposure, a lot of the exposure is to the big companies (those who have survived oil busts before and will survive this one). Even in real estate, Canadian banks do not lend beyond 75% of value and amortizations are 25 year maximum. This means that they have lots of leeway in dealing with a sagging Canadian economy till oil prices do recover. No NINJA loans or other stupidity present in the Canadian banking industry means that these guys will survive just fine. IMO also IMO -Buying opportunity approaching!
    Jan 30, 2015. 09:54 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: Amazon Shares Surge After Profit Beat [View article]
    When the EEC let economic garbage like Greece in, they wrote their own not so pleasant future. ;-) And now we approach the dog fight phase - The EEC can not give in to the majority of Greek demands as they would soon have Spain, Portugal and Italy lining up to collect if they did.

    It will be an Interesting and entertaining time for the next little while! ;-)

    JMO
    Jan 30, 2015. 09:46 AM | 2 Likes Like |Link to Comment
  • Amazon Can Make Money When It Wants [View article]
    Its actually amazing that Amazon survives in the online business. I have ordered from both e-bay and amazon and e-bay wins hands down. Easier to use, better quality merchants, focused on the customer service experience, far superior web site, better complaints resolution - just to name a few. I have ordered 10 times more on e-bay than i have on Amazon and have had no problems on e-bay and multiple problems on Amazon. I do not own either stock and do not buy books or music. JMO based on my experience.
    Jan 30, 2015. 09:37 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: The Heavy Earnings Week Continues [View article]
    My understanding is that something like a million barrels a day of this excess oil supply is due to refinery down time and maintenance. It will go away when they start up.
    Jan 29, 2015. 09:39 AM | 1 Like Like |Link to Comment
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