Antonio Carradinha's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/6899671/comments http://seekingalpha.com/article/1453271/comments?source=feed#comment-19153831 19153831 I have taken good note of your statements on this subject.

Regards,
Antonio]]> Thu, 23 May 2013 07:10:38 -0400 I have taken good note of your statements on this subject.

Regards,
Antonio]]> http://seekingalpha.com/article/1174361/comments?source=feed#comment-19136401 19136401
I'm sorry about your earlier experience with this "gem".

Now is a completely new story. Have you any stocks yet?

Regards,
Antonio]]> Wed, 22 May 2013 17:14:05 -0400
I'm sorry about your earlier experience with this "gem".

Now is a completely new story. Have you any stocks yet?

Regards,
Antonio]]> http://seekingalpha.com/article/1453271/comments?source=feed#comment-19132071 19132071
Many problems can appear without warning.

Regards,
Antonio]]> Wed, 22 May 2013 16:14:29 -0400
Many problems can appear without warning.

Regards,
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18888061 18888061
This is an important point. However, the very long-term may mean 8-10 years as well as much more in view of the investment style of each investor. The base work is practically the same for 10 years or 30 years. We can hold shares for a lifetime making a moderate or active management or we can decide replacements. Warren Buffett has positions for life and their successors may decide to keep them for much longer. The strategy of the multi-generational Norwegian Oil Fund may not be very different from that of individuals.

Regards,
Antonio]]> Thu, 16 May 2013 07:29:03 -0400
This is an important point. However, the very long-term may mean 8-10 years as well as much more in view of the investment style of each investor. The base work is practically the same for 10 years or 30 years. We can hold shares for a lifetime making a moderate or active management or we can decide replacements. Warren Buffett has positions for life and their successors may decide to keep them for much longer. The strategy of the multi-generational Norwegian Oil Fund may not be very different from that of individuals.

Regards,
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18868001 18868001
I agree that ETF's have a wide application field for many investors. Even so, some of the key principles explained can be applied according to the ETF's chosen.

Regards,
Antonio]]> Wed, 15 May 2013 16:57:13 -0400
I agree that ETF's have a wide application field for many investors. Even so, some of the key principles explained can be applied according to the ETF's chosen.

Regards,
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18867401 18867401
Regards,
Antonio]]> Wed, 15 May 2013 16:47:06 -0400
Regards,
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18859581 18859581
Regards,
Antonio]]> Wed, 15 May 2013 14:16:12 -0400
Regards,
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18859461 18859461
Antonio]]> Wed, 15 May 2013 14:13:14 -0400
Antonio]]> http://seekingalpha.com/article/1433181/comments?source=feed#comment-18859321 18859321
I know that discipline and patience are the two greatest qualities of an investor in connection with appropriate study and research. I've already gotten gains in the markets which I find very reasonable. Currently, my analysi
s and studies (hopefully) will be useful for my readers as they are for my family.
The long-term focus seems simple but it is a strategy that requires a tremendous commitment. The choice of investment opportunities for the future is a debatable topic and changeable over time.
Regards,
Antonio]]> Wed, 15 May 2013 14:10:31 -0400
I know that discipline and patience are the two greatest qualities of an investor in connection with appropriate study and research. I've already gotten gains in the markets which I find very reasonable. Currently, my analysi
s and studies (hopefully) will be useful for my readers as they are for my family.
The long-term focus seems simple but it is a strategy that requires a tremendous commitment. The choice of investment opportunities for the future is a debatable topic and changeable over time.
Regards,
Antonio]]> http://seekingalpha.com/article/1339801/comments?source=feed#comment-18472771 18472771
All depends on the fourth and first fiscal quarters ending in May and August, respectively, in which CALM usually experiences lower sales and net income.

Regards,
Antonio]]> Sun, 05 May 2013 19:35:18 -0400
All depends on the fourth and first fiscal quarters ending in May and August, respectively, in which CALM usually experiences lower sales and net income.

Regards,
Antonio]]> http://seekingalpha.com/article/1174361/comments?source=feed#comment-18261661 18261661
I completely agree with you. In my opinion, Horta-Osorio should continue the time needed to complete his work. Shareholders certainly will demand it.

Lloyd's good profits in the short term will mean relevant upside potential for the long term.

Regards,
Antonio]]> Tue, 30 Apr 2013 08:02:19 -0400
I completely agree with you. In my opinion, Horta-Osorio should continue the time needed to complete his work. Shareholders certainly will demand it.

Lloyd's good profits in the short term will mean relevant upside potential for the long term.

Regards,
Antonio]]> http://seekingalpha.com/article/1339801/comments?source=feed#comment-18144861 18144861
Since 3rd Quarter 2008, CALM has approved the adoption of a variable dividend policy:

"Commencing with the third quarter of fiscal 2008 Cal-Maine began to pay a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income computed in accordance with generally accepted accounting principles in an amount equal to one-third (1/3) of such quarterly income. Following a quarter for which the Company does not report net income, the Company shall not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the last quarter for which a dividend was paid."

Variable dividends paid in 2013:

$0.130 per common share for the 1st Q Fiscal 2013
$0.199 per common share for the 2nd Q Fiscal 2013
$0.423 per common share for the 3rd Q Fiscal 2013

Regards,
Antonio]]> Fri, 26 Apr 2013 14:44:56 -0400
Since 3rd Quarter 2008, CALM has approved the adoption of a variable dividend policy:

"Commencing with the third quarter of fiscal 2008 Cal-Maine began to pay a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income computed in accordance with generally accepted accounting principles in an amount equal to one-third (1/3) of such quarterly income. Following a quarter for which the Company does not report net income, the Company shall not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the last quarter for which a dividend was paid."

Variable dividends paid in 2013:

$0.130 per common share for the 1st Q Fiscal 2013
$0.199 per common share for the 2nd Q Fiscal 2013
$0.423 per common share for the 3rd Q Fiscal 2013

Regards,
Antonio]]> http://seekingalpha.com/article/1174361/comments?source=feed#comment-18101741 18101741
Lloyds plans IPO for TSB branches. It is thought a stock market flotation of the TSB branches, known as Project Verde, could raise more than £1 billion for Lloyds. That would be higher than the reported £750 million the Co-op had been due to pay.

Mr
Antonio Horta-Osorio said: "The TSB Bank will be an attractive retail and commercial bank that will have around 630 branches across the UK, a strong management team and will be a real challenger on the high street."]]> Thu, 25 Apr 2013 17:26:12 -0400
Lloyds plans IPO for TSB branches. It is thought a stock market flotation of the TSB branches, known as Project Verde, could raise more than £1 billion for Lloyds. That would be higher than the reported £750 million the Co-op had been due to pay.

Mr
Antonio Horta-Osorio said: "The TSB Bank will be an attractive retail and commercial bank that will have around 630 branches across the UK, a strong management team and will be a real challenger on the high street."]]> http://seekingalpha.com/article/1357991/comments?source=feed#comment-17948701 17948701
I completely agree with you on that. Europe is really a tremendous problem (I know it and I live here), and US has known better days indeed. Let's hope that the world economy changes for the better.

Regards,
Antonio]]> Mon, 22 Apr 2013 16:41:08 -0400
I completely agree with you on that. Europe is really a tremendous problem (I know it and I live here), and US has known better days indeed. Let's hope that the world economy changes for the better.

Regards,
Antonio]]> http://seekingalpha.com/article/1357991/comments?source=feed#comment-17948061 17948061 If you take the trouble to read some of my other articles you will conclude that I'm also NOT in accordance with policies of monetary stimulus. However, what is being done in Japan is a complete package including steps of structural measures for the economy.
It seems that you did not read my entire article.

Now if you have shorted the market, it's a respectable move and good luck. But if the Japanese market will continue to rise you surely have to solve your problem.

Regards,
Antonio]]> Mon, 22 Apr 2013 16:27:01 -0400 If you take the trouble to read some of my other articles you will conclude that I'm also NOT in accordance with policies of monetary stimulus. However, what is being done in Japan is a complete package including steps of structural measures for the economy.
It seems that you did not read my entire article.

Now if you have shorted the market, it's a respectable move and good luck. But if the Japanese market will continue to rise you surely have to solve your problem.

Regards,
Antonio]]> http://seekingalpha.com/article/1357991/comments?source=feed#comment-17931751 17931751 Yes I agree, this phase can bring in complications. Nothing is straightforward in forex and traders have to know that.

Regards,
Antonio]]> Mon, 22 Apr 2013 10:47:00 -0400 Yes I agree, this phase can bring in complications. Nothing is straightforward in forex and traders have to know that.

Regards,
Antonio]]> http://seekingalpha.com/article/1327831/comments?source=feed#comment-17883501 17883501 The company will pay a dividend of €0.325 ($0.423) per share on 17 May. Dividend yield is 8.5%.
Antonio]]> Sat, 20 Apr 2013 19:28:13 -0400 The company will pay a dividend of €0.325 ($0.423) per share on 17 May. Dividend yield is 8.5%.
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17753581 17753581 I have already answered your question. I mention 15.4 CAGR following the forecast in a paragraph AFTER the table that stops in 2012. One thing has nothing to do directly with the other. It is very clear to everybody.

goodbye and good luck.
Antonio]]> Wed, 17 Apr 2013 16:33:40 -0400 I have already answered your question. I mention 15.4 CAGR following the forecast in a paragraph AFTER the table that stops in 2012. One thing has nothing to do directly with the other. It is very clear to everybody.

goodbye and good luck.
Antonio]]> http://seekingalpha.com/article/1339801/comments?source=feed#comment-17688161 17688161
Regards,
Antonio]]> Tue, 16 Apr 2013 10:18:56 -0400
Regards,
Antonio]]> http://seekingalpha.com/article/1343921/comments?source=feed#comment-17685041 17685041
Regards,
Antonio]]> Tue, 16 Apr 2013 09:04:41 -0400
Regards,
Antonio]]> http://seekingalpha.com/article/1339801/comments?source=feed#comment-17601741 17601741
Cal-Maine Foods is not a growth company so it can't have a high P/E. Besides, trailing P/E is 10.83 and forward P/E is 11.71. Past P/E are even lower. For CALM a standard P/E is more like 10.

Regards,
Antonio]]> Sun, 14 Apr 2013 11:48:51 -0400
Cal-Maine Foods is not a growth company so it can't have a high P/E. Besides, trailing P/E is 10.83 and forward P/E is 11.71. Past P/E are even lower. For CALM a standard P/E is more like 10.

Regards,
Antonio]]> http://seekingalpha.com/article/1288691/comments?source=feed#comment-17287331 17287331 In the near future, we will see the continued severe debt situation in Europe and the difficulties of global economic growth. Even in the US, the problems will remain very serious and Quantitative Easing policies will be helping Gold in its current bull market. In this context, in my opinion, the driving force will be on the investment side in 2013.

Regards,
Antonio]]> Fri, 05 Apr 2013 18:36:30 -0400 In the near future, we will see the continued severe debt situation in Europe and the difficulties of global economic growth. Even in the US, the problems will remain very serious and Quantitative Easing policies will be helping Gold in its current bull market. In this context, in my opinion, the driving force will be on the investment side in 2013.

Regards,
Antonio]]> http://seekingalpha.com/article/1147281/comments?source=feed#comment-17226231 17226231
Regards,
Antonio]]> Thu, 04 Apr 2013 14:48:14 -0400
Regards,
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17189351 17189351
Let's say there are many Amazon investors with excessive expectations. And yes, the Fed "helped" indirectly. But as HS said above and I agree, fundamentals always win, eventually.

Regards,
Antonio]]> Wed, 03 Apr 2013 18:33:27 -0400
Let's say there are many Amazon investors with excessive expectations. And yes, the Fed "helped" indirectly. But as HS said above and I agree, fundamentals always win, eventually.

Regards,
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17182871 17182871
Of course each year starts with $0 sales. :) And at the end of each year the company arrives to a sales amount which is x% higher (or not...) than the previous year. And so on. I don't see why you can't understand this.

I have no problem, if you still need some clarification I'm here to help you.

Regards,
Antonio]]> Wed, 03 Apr 2013 16:21:51 -0400
Of course each year starts with $0 sales. :) And at the end of each year the company arrives to a sales amount which is x% higher (or not...) than the previous year. And so on. I don't see why you can't understand this.

I have no problem, if you still need some clarification I'm here to help you.

Regards,
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17124961 17124961
CAGR is the Compound Annual Growth Rate and is the number that defines the growth rate of an investment (or a share, etc) if it grew at a steady rate. Suppose you have a portfolio of $105 on Year 0 and it grows to $137 by Year 1 and finally end up at $162 by Year 2.
Your CAGR would be the ratio of $162/$105 raised to the power of 1/2 (1/# of years), then subtracting 1 from the resulting number.
By this example CAGR is 24.21%.

Regards
Antonio]]> Tue, 02 Apr 2013 14:51:56 -0400
CAGR is the Compound Annual Growth Rate and is the number that defines the growth rate of an investment (or a share, etc) if it grew at a steady rate. Suppose you have a portfolio of $105 on Year 0 and it grows to $137 by Year 1 and finally end up at $162 by Year 2.
Your CAGR would be the ratio of $162/$105 raised to the power of 1/2 (1/# of years), then subtracting 1 from the resulting number.
By this example CAGR is 24.21%.

Regards
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17114811 17114811
When we know that a nice Free Cash Flow includes relevant profits, the company focused on the long term must be analyzed and evaluated based on FCF. But when we have enough information that tells us that the company has tiny margins and therefore very low or nonexistent profits, we will have to do a realistic analysis at some point in the future about whether or not there is adequate return on investment. That's what I did, pointing to the end of 2019. We have to deal with realities and not with utopia.

Regards,
Antonio]]> Tue, 02 Apr 2013 11:52:15 -0400
When we know that a nice Free Cash Flow includes relevant profits, the company focused on the long term must be analyzed and evaluated based on FCF. But when we have enough information that tells us that the company has tiny margins and therefore very low or nonexistent profits, we will have to do a realistic analysis at some point in the future about whether or not there is adequate return on investment. That's what I did, pointing to the end of 2019. We have to deal with realities and not with utopia.

Regards,
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17112411 17112411
Antonio]]> Tue, 02 Apr 2013 11:00:27 -0400
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17110931 17110931 Thank you for reading my article.

In February, both chambers took up identical bills that would clear the way for states to collect the so-called "Amazon tax." The Senate debated incorporating the legislation as an amendment to its budget resolution. The amendment has passed, though, the resolution is non-binding. The budget blueprint will likely serve as a starting point for fiscal negotiations later this year.

Regards,
Antonio]]> Tue, 02 Apr 2013 10:33:29 -0400 Thank you for reading my article.

In February, both chambers took up identical bills that would clear the way for states to collect the so-called "Amazon tax." The Senate debated incorporating the legislation as an amendment to its budget resolution. The amendment has passed, though, the resolution is non-binding. The budget blueprint will likely serve as a starting point for fiscal negotiations later this year.

Regards,
Antonio]]> http://seekingalpha.com/article/1313821/comments?source=feed#comment-17103401 17103401 Thanks for your kind words. Your comments are very important and I agree with them. Regarding the number of shares it is obvious that you are right but it would not change the outcome much. However, I could have made reference to it.
I also think that the fundamentals always win in the medium term at least.
Regards,
Antonio]]> Tue, 02 Apr 2013 07:55:28 -0400 Thanks for your kind words. Your comments are very important and I agree with them. Regarding the number of shares it is obvious that you are right but it would not change the outcome much. However, I could have made reference to it.
I also think that the fundamentals always win in the medium term at least.
Regards,
Antonio]]>