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  • Is Inflation Next? [View article]

    Regarding the Fed's "free trades with willing counterparties", I doubt that the counterparties are really willing all the time. I don't think the commercial banks have the freedom to reject the reserve the Fed creates, nor have any say about the interest rate the Fed pays on excess reserve.
    Apr 18 04:01 AM | 1 Like Like |Link to Comment
  • Same Stuff, Different Year: Should Shareholders Stick With IBM? [View article]

    If the business is not going to recover, it does not matter how much cash it has. e.g. if Apple is not going to sell enough iPhones, it does not matter how much cash it has. Its value will be 0 eventually.

    Even with reduced R&D, IBM still spends significant amount on R&D. Investors have to lower their expectation that IBM will always stand in front of every technology breakthrough. The time has changed.
    Apr 17 09:07 AM | Likes Like |Link to Comment
  • Same Stuff, Different Year: Should Shareholders Stick With IBM? [View article]
    What's wrong with share repurchase? Maybe you think the share price is expensive, apparently, quite some people disagree with you.

    Maybe current profit is not the bottom. Let's assume it's half way. So is it really expensive for share repurchase?

    Unless someone is predicting the end of IBM, the share repurchase is not as bad as a lot of people claimed.
    Apr 17 05:53 AM | Likes Like |Link to Comment
  • Vale - Iron Ore Expectations Will Not Shape Its Performance [View article]
    Recent surge in the price of nickel should help too. If I am not wrong, Value is the second largest nickel producer in the world.

    For a long term investor, the short term volatility is not that significant. The rebels issue will pass, so will the president election.

    In the longer term, everything will be better instead of worse.
    Apr 14 10:28 PM | Likes Like |Link to Comment
  • China: Minsky Moment Or More Stimulus? [View article]
    What's excessive? Please define it first.

    Is 1 trillion excessive? Or is 10 trillion excessive? Or is 100 trillion excessive? What's exactly excessive?
    Mar 26 06:01 AM | 1 Like Like |Link to Comment
  • IBM's Shares Finally Break Out: Are We In For Further Gains? [View article]
    Is it possible for IBM to acquire Symantec? Currently Symantec is valued less than 15 billion, which is not a big acquisition for IBM with almost 200 billion market cap. No doubt that Symantec has a great software portfolio which is deployed in almost every large enterprise in the world. The cost of software sales and marketing is too high in Symantec, IBM can certainly help it reduce the cost with its existing software sale force.
    Mar 26 05:15 AM | Likes Like |Link to Comment
  • Staples Disaster Offers At Least The Potential For Competing Explanations [View article]
    exactly. I guess that the author ignores it because it does not serve his purpose.
    Mar 6 09:32 PM | Likes Like |Link to Comment
  • Hey, Cisco, First Things First [View article]
    Since Cisco is no longer a high-growth technology stock, it can stop giving out huge stock options for compensation. I doubt that many employees are happy when receiving those stock options.

    On the other hand, I hope Cisco issues more debt to buy back more shares at current level. Cisco does not need that much cash on its balance sheet for nothing. It would be better to return to its shareholders.
    Mar 3 03:29 AM | Likes Like |Link to Comment
  • Thoughts On Buffett's Annual Letter [View article]
    I believe that you don't understand the mechanism behind high frequency trading. It is exploiting the small misprice in different markets rather than from a value investment philosophy. High frequency trading does not compete with value investors in finding the best value in the market.

    Maybe one day when US stops behave rationally, Buffett will worry about macro in the US economy. But so far, US has been the best large economy in the world.
    Mar 2 07:26 AM | 2 Likes Like |Link to Comment
  • Best Buy: Target Price $35 For 2014 [View article]

    If I am not wrong, you were an employee of Best Buy. How do you think of it now? Do you still think it would go the way of Circuit City something you thought about before Hubert Jolly coming in?
    Mar 1 10:20 PM | Likes Like |Link to Comment
  • Best Buy: Target Price $35 For 2014 [View article]
    The inventory management in Best Buy is much better now. It is good for cash flow management and future profitability.
    Feb 28 03:03 AM | Likes Like |Link to Comment
  • eBay leads $133.7M round in Indian site, tells Icahn to "stick to the facts" [View news story]
    Maybe EBay can show the world the minutes that Marc Andreessen defended the future worth of Skype against the rest of the board before Skype was sold to Silver Lake led private equity consortium including Marc Andreessen's private company.
    Feb 27 04:15 AM | 1 Like Like |Link to Comment
  • J.C. Penney Company Inc. beats by $0.17, misses on revenue [View news story]
    The cash flow is not going to be a big problem if JCP can be profitable soon. They have lost quite some vendor financing. If it is profitable soon again, the vendor financing will be back. All of the cash flow problem will be gone as well.
    Feb 27 04:05 AM | Likes Like |Link to Comment
  • Sales strong and pricing weaker at SodaStream [View news story]
    Supply chain and inventory management look like the big problem for SodaStream.
    Feb 27 03:56 AM | Likes Like |Link to Comment
  • Why Payments Can't Save EBay [View article]

    It is not that Ebay is dragging down Paypal, but Ebay limits the adoption of Paypal in other eCommerce venue.

    No one can deny that Ebay contributes greatly to the early success of Paypal. But it's about time for Paypal to take on its own journey.
    Feb 24 09:26 PM | 1 Like Like |Link to Comment