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  • Has CEFL Done As Badly As It Looks? [View article]
    Well, if just 10% of CEFL holders to that, the same event will repeat, since CEFL will be unloading CEFs in large quantities. So unless UBS fixes this, this is a broken product.
    Jul 1, 2015. 03:48 PM | 5 Likes Like |Link to Comment
  • Global shares rise as Tsipras backs down [View news story]
    Greece default, real or practical, with Rico debt trouble will start different narrative for the market. It may very well be all about debt.
    Jul 1, 2015. 02:15 PM | Likes Like |Link to Comment
  • White flag from Greece has stocks on the move higher [View news story]
    I wonder how social order will be enforced in AL and MS when hand outs start shrinking ala pensions in Greece. Especially when police won't be able to stop, search or unrest anyone - that disparate equality has to be enforced;).
    Jul 1, 2015. 02:07 PM | Likes Like |Link to Comment
  • ETN Showdown: MLPL, A Great Play For An Oil Rebound [View article]
    It's high expense ratios related to K1 process and necessity of having to pay taxes on shares sold when ETF makes profit. MLP ETFs are double taxed entities - at the level of ETF and the level of shareholder - not good.
    Jul 1, 2015. 10:34 AM | 2 Likes Like |Link to Comment
  • NOVX21: The 'Clean' Way To Invest In The Coming PGM Boom [View article]
    Private equity will take this company private at 0.6 a share, great bargain for them, carp for current shareholders. Previous CEO made out like bandits, I imagine. Such is small cap investing - most of the time.
    Jul 1, 2015. 12:26 AM | Likes Like |Link to Comment
  • Greece bailout expires as deadline passes [View news story]
    KMI, I think effect of Greek default and upcoming Puerto Rican default/debt write down will shift market's attention to debt. It's entirely possible that debt and its ability to be paid down becomes the new theme. That would have quite drastic effect on the market and allocation of investor capital.
    Jun 30, 2015. 11:55 PM | Likes Like |Link to Comment
  • Greece bailout expires as deadline passes [View news story]
    QE may be getting debunked few years from now. Liquidity without reforms will be proven useless in time, look at economic leadership coming out of Washington DC currently.
    Jun 30, 2015. 11:53 PM | Likes Like |Link to Comment
  • Greece bailout expires as deadline passes [View news story]
    At this point, doesn't matter whether Greeks vote yes or no - voting process will take too long. Capital controls and non-functioning banking system will cripple tourism and home industries - as little as 10% drop in tourism tips the boat in the wrong direction. Greece has defaulted, even if the bell hasn't been rung yet.
    Jun 30, 2015. 11:50 PM | 1 Like Like |Link to Comment
  • Greece threatens to sue Europe [View news story]
    No, that's not default - at least not to IMF.
    Jun 29, 2015. 07:29 PM | Likes Like |Link to Comment
  • PBOC cuts rates [View news story]
    Piketty is also wrong on extent of inequality - it's always been there and was larger before, including in US in late 1800s. Piketty is elevated on pedestal because that's what left needs to increase taxes on upper echelons of society to 'equalize' things. Of course, such course of action will equalize things by removing wealthy via emigration or decreased overall economic wealth/growth, but things won't get better for average fool.
    Jun 28, 2015. 12:47 AM | 4 Likes Like |Link to Comment
  • A Portfolio Manager's Report From Greece [View article]
    Greece hasn't been great since time of Alexander the Great. That's roughly 23 centuries, take or leave a few years here and there. No reason to exaggerate.
    Jun 28, 2015. 12:37 AM | Likes Like |Link to Comment
  • With New Threats, It's Hard To See How One Can Invest In Coal Currently [View article]
    No, it's not well established as existence of gravity. By the way, we don't understand gravity. And we don't understand temperature changes.

    How about this peer reviewed article from 1970s from Science:

    'Schneider S. & Rasool S., “Atmospheric Carbon Dioxide and Aerosols – Effects of Large Increases on Global Climate”, Science, vol.173, 9 July 1971, p.138-141

    We report here on the first results of a calculation in which separate estimates were made of the effects on global temperature of large increases in the amount of CO2 and dust in the atmosphere. It is found that even an increase by a factor of 8 in the amount of CO2, which is highly unlikely in the next several thousand years, will produce an increase in the surface temperature of less than 2 deg. K.

    However, the effect on surface temperature of an increase in the aerosol content of the atmosphere is found to be quite significant. An increase by a factor of 4 in the equilibrium dust concentration in the global atmosphere, which cannot be ruled out as a possibility within the next century, could decrease the mean surface temperature by as much as 3.5 deg. K. If sustained over a period of several years, such a temperature decrease could be sufficient to trigger an ice age.'
    Jun 25, 2015. 12:20 AM | Likes Like |Link to Comment
  • No Institutional Path To Contraction [View article]
    Brilliant. Currently published details of the Greek agreement just favor the path of Greek GDP contraction, with higher taxes on businesses and higher VATs. How is that pro-growth?

    Greece has already defaulted, it just forgot to tell anyone about it.
    Jun 24, 2015. 11:05 AM | 2 Likes Like |Link to Comment
  • Renegotiating Greek's Debt [View article]
    So what you are saying Greece has become a political bailout, since from economic point of view, Greece has already defaulted. Don't count your chickens for political bailouts, since neither populace of US or Western Europe are particularly interested in political or military involvement right now - hence Ukraine, Syria, and Iraq looking the way they are.
    Jun 22, 2015. 10:14 AM | 1 Like Like |Link to Comment
  • How Greece Could Force Germany Off The Euro [View article]
    How about 25-30% of GREK is Greek banks, which will certainly be nationalized in case of Greexit - expect at least a 30% haircut of GREK ETF in case of exit.
    Jun 20, 2015. 10:20 AM | Likes Like |Link to Comment