Patrick Farnsley's Comments Patrick Farnsley's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/655209/comments Pimco High Income Fund (PHK): Q2 net investment income of $0.24/share, down from $0.27 a year ago (current monthly distribution is $0.12, or $0.36/quarter). Net asset value/share of $7.80, down from $9.09 a year ago. The stock (on June 30) trades at a premium to NAV of 73.6%, up from 49.8% a year ago. (PR) http://seekingalpha.com/currents/post/513911?source=feed#comment-8914631 8914631 Wed, 29 Aug 2012 16:39:40 -0400 His growth fund underperforming the S&P 500 by about 2500 basis points YTD, John Hussman sounds frustrated, comparing today's investor confidence and enthusiasm to that of Nasdaq 2000 or housing/debt 2007 (perhaps he's not following the continuing flow of money out of equity funds and into fixed income). http://seekingalpha.com/currents/post/498951?source=feed#comment-8623471 8623471 Tue, 21 Aug 2012 14:51:26 -0400 There's no drought in California, but a scarcity of workers in the high unemployment state could send fruit and vegetable prices higher. "We just left them in the ground," says a farmer of some of his crops after being unable to find pickers. How about local residents instead of illegals? "None. Absolutely none (are interested)," he says, even for semi-skilled work paying $12-18/hour. http://seekingalpha.com/currents/post/496601?source=feed#comment-8587981 8587981 Mon, 20 Aug 2012 15:27:23 -0400 U.S. drivers are paying an average of $3.72/gallon today for gasoline, the highest price ever on this date and even higher than the $3.717 average on Aug. 20, 2008, AAA reports. Prices range from a low of $3.43 in South Carolina to $4.32 in Hawaii. Arizona, Mississippi and New Mexico also have average prices below $3.50; California and Illinois are above $4/gallon. http://seekingalpha.com/currents/post/496911?source=feed#comment-8587741 8587741 Mon, 20 Aug 2012 15:21:31 -0400 The Consumer Financial Protection Bureau opens for comment a proposal to force lenders to offer no-fee, no-point mortgages, so as to make it easier for prospective borrowers to comparison shop. It would also force lenders to offer rate reductions if consumers elected to pay points. Is anyone aware of a mortgage lender that doesn't already offer all of this? http://seekingalpha.com/currents/post/494271?source=feed#comment-8513681 8513681 Fri, 17 Aug 2012 16:02:48 -0400 Congressmen Elijah Cummings and Henry Waxman warn Wal-Mart (WMT +0.3%) in a letter that they hold evidence of wrongdoing at the company's Mexico affiliate including tax evasion and money laundering. The finding from the pair of lawmakers is unrelated to any conclusions the DOJ may be making on the issue. On tap for Wal-Mart: Q2 results (earnings preview) http://seekingalpha.com/currents/post/488981?source=feed#comment-8499811 8499811 Fri, 17 Aug 2012 10:11:57 -0400 This Airline Is Controlling Fuel Costs By Buying Its Own Refinery http://seekingalpha.com/article/556321/comments?source=feed#comment-5069261 5069261 Thu, 03 May 2012 14:37:50 -0400 So it's come to this: Investment banks are making their earnings by betting against themselves, as ~25% of JPMorgan Chase's (JPM +0.2%) Q3 profit resulted from debt valuation adjustments. DVA gains of $1B for MS (-1.2%) and $300M for GS (-0.7%) were already forecast; because they faced more severe bond market stress than JPM, they may report even larger DVA figures. http://seekingalpha.com/currents/post/95885?source=feed#comment-1974115 1974115 Fri, 14 Oct 2011 14:57:26 -0400 Obama-Era Financial Reforms Would Work if Agencies Implementing Them Were Properly Funded http://seekingalpha.com/article/262582/comments?source=feed#comment-1578294 1578294 Fri, 08 Apr 2011 10:47:49 -0400 Saying "the government has violated the rights of its people," the State Department supports expelling Libya from the U.N. Human Rights Council. The Council meets in Geneva this weekend to discuss ways of stopping the violence. Sounds like a censure of Israel is coming. http://seekingalpha.com/currents/post/69551?source=feed#comment-1490533 1490533 Thu, 24 Feb 2011 14:31:14 -0500 Social Security is beginning to pay out more than it takes in, but Robert Reich says there's an easy fix: Raise the ceiling on earnings that apply to the payroll tax. There’s no reason even to consider reducing Social Security benefits or raising the age of eligibility. http://seekingalpha.com/currents/post/69001?source=feed#comment-1476520 1476520 Thu, 17 Feb 2011 11:51:10 -0500 The Trouble With Regional Banks http://seekingalpha.com/article/246616/comments?source=feed#comment-1406247 1406247 Fri, 14 Jan 2011 11:50:50 -0500 The Muni-Bond Meltdown: Sell First, Ask Questions Later http://seekingalpha.com/article/238151/comments?source=feed#comment-1318949 1318949 Mon, 22 Nov 2010 17:16:35 -0500 The Obama administration says its top health official will "exercise her discretion" in enforcing a new health law requirement, a move that could prevent McDonald's (MCD) and other employers from disrupting their health care policies. (earlier) http://seekingalpha.com/currents/post/57595?source=feed#comment-1236746 1236746 Fri, 01 Oct 2010 10:32:34 -0400 Our "dysfunctional and corrupt political culture" may extend the Bush tax cuts for the wealthy, Paul Krugman writes, even though "it’s hard to think of a less cost-effective way to help the economy than giving money to people who already have plenty." But a new BofA (BAC) research note says allowing the cuts to expire could trigger a double-dip. http://seekingalpha.com/currents/post/55244?source=feed#comment-1178015 1178015 It's time to flush the Krugman's of the world away and with
them all of their 1984 doublespeak.]]> Mon, 23 Aug 2010 14:23:28 -0400 It's time to flush the Krugman's of the world away and with
them all of their 1984 doublespeak.]]>