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  • Is It Time To Sell These PIMCO Closed-End Funds? [View article]

    You are comparing apples to oranges. AGG is a pure interest rate direction play. PDI and PCI are not.
    May 28, 2014. 03:00 PM | Likes Like |Link to Comment
  • Is It Time To Sell These PIMCO Closed-End Funds? [View article]
    There is not much room for corporate bond market to go higher due to the tight spread hence PCI return is limited to coupon payments.

    PDI, on the other hand, may have more room for appreciation in mortgage papers especially with ~50% leverage. Economy and housing market continue to heal raising value for those papers.

    PDI is still a better bet than PCI.
    May 28, 2014. 02:46 PM | 1 Like Like |Link to Comment
  • Why Tim Cook Wants Mom And Pop To Buy Apple [View article]
    APPL fans, what about saturated smart phone market? What about margin pressure from price competition? Samsung will not go down without a fight by cutting prices.
    May 13, 2014. 07:45 PM | Likes Like |Link to Comment
  • Forward Into Broad, Sunlit Uplands [View article]
    Please, also consider below developments to get the whole picture. Above is just a partial view.

    1. Small cap and momo stock divergence from rest of the market. Will the market follow small cap's decline?
    2. Pension funds buying long dated treasuries to lock in gains after equity market run last year and driving rates down.
    3. Retail investors coming back in to the equity market in droves. Bearish indicator.

    We've entered last stage of this business cycle. How long will it last before the next downturn starts?
    May 9, 2014. 02:42 PM | Likes Like |Link to Comment
  • Don't Buy FireEye [View article]
    g3, I disagree with you wholeheartedly. Mandiant is a service company which means it will not scale like a product oriented company. You need to pay high salaries to keep and retain the best security analysts. Goods ones are first ones to jump ship to better opportunities. This is why FEYE will have hard time turning a profit. Their cost of running the business to too high because they are not selling low maintenance products.

    Check out CEO's apology to wall street on the share price drop on CNBC. He sold ~500k shares in March and people are asking him why he bailed out if the future is so bright and promising.
    May 8, 2014. 01:05 PM | Likes Like |Link to Comment
  • A Market Correction Trigger? [View article]
    MOMO stock correction now underway signals shift in mentality back to earnings from revenue only growth. This shift will likely spread to rest of the market soon.
    May 7, 2014. 01:01 PM | Likes Like |Link to Comment
  • Don't Buy FireEye [View article]
    Nice article. This IPO was a classic pump and dump for the insiders. A quick secondary to raise cash while the hype was on. This reminds me of 2000 era dotcoms where most of them ended up with class action lawsuit from the shareholders. The investors who bought the secondary offering at $80 are in world of hurt. What were those investors thinking paying $80 a share? I guess they were sold on the sell side growth fantasy.

    With so many new employees now underwater at FEYE, the company's execution is at risk. With earnings back in focus, FEYE may need to lay people off and/or scale back hiring growth.

    It was fun while it lasted but this Gartner hype cycle was over and done with quick!

    Having said that, I'll buy when the multiple shrinks to 1 or 2x sales. ~$3 per share.
    May 7, 2014. 12:53 PM | 2 Likes Like |Link to Comment
  • More Evidence Of A Low-Return Equity Outlook [View article]
    Right on Cam! Fully agree...
    May 1, 2014. 03:29 PM | Likes Like |Link to Comment
  • PT hikes, upgrade follow Apple's FQ2 beat; is Dow inclusion next? [View news story]
    iPhone 6 will dominate the high end going forward. Samsung's only differentiator, larger screen size, is gone. With big screen iPhones out, only way to sell Android phones is lower cost. iPhone 6 will kill Samsung/LG's margins.

    AAPL to $1 trillion market cap!
    Apr 24, 2014. 05:01 PM | 1 Like Like |Link to Comment
  • Constructing A High-Income, Tax-Exempt Portfolio With CEFs [View article]
    Duration of 10 years and leverage based on short term rates is a deal breaker for me. As short term rates rise next year, cost of leverage goes up causing distribution cuts.

    I prefer high yield muni funds (OEF or ETF) with no leverage used.
    Apr 21, 2014. 03:14 PM | Likes Like |Link to Comment
  • Is It Time To Short Stocks? [View article]
    Cam, nice article. It is for articles such as this I keep coming back to SA. Market internals seem consistent and is aligned with the taper/QE exit. Fed is giving the market plenty of time to adjust to the world without QE.

    Where would the risk off money be rotating into? Large cap defensive names...
    Mar 31, 2014. 01:46 PM | Likes Like |Link to Comment
  • Plant A Tree Today, Sit In The Shade Tomorrow [View article]
    We are in for a very long period of ZIRP if the rates are tied to inflation.
    Mar 27, 2014. 07:41 PM | Likes Like |Link to Comment
  • How Bond ETFs Crushed Stock ETFs In The First Quarter Of 2014 [View article]
    Are we at a mid-point or near end of current business cycle? I would not be surprised if current expansion comes to an abrupt end with ZIRP still in place.
    Mar 27, 2014. 06:32 PM | Likes Like |Link to Comment
  • 3 Reasons Top Earners Should Favor High-Yield Muni ETFs [View article]
    I like SHYD but it is thinly traded. When will the fund gain in size like HYD?
    Mar 27, 2014. 06:25 PM | Likes Like |Link to Comment
  • From Russia With Love: Russian Ruble And Stocks Set To Soar [View article]
    It was too early to get in on RSX. I will limit in between $17 and $15.

    Also why go with RSXJ when RSX represents same value at higher quality and liquidity?
    Mar 13, 2014. 03:03 PM | Likes Like |Link to Comment