The Sleazy Side Of Wall Street: I Interview A Stock Promoter
In this business, you’re only as good as your last deal. There are people that might give you some ticker symbol on a deal they did last year. But they can burn their list very quickly. A list that was hot in September might mean absolutely nothing in December. In fact, if you were to … Read more
BVSN: Massive Short Squeeze
If this were optionable, I would be selling calls here. This is another successful stock promotion by Jonathan Lebed. This week I should be getting a “hot” list from a stock promoter.
IDCC: Who Is Selling?
Certainly not value buyers who bought this much higher. IDCC has $10 of net cash and more than $2.50 EPS. Any value investor would buy this at 10X earnings. Traders will keep buying this as long as it holds $35, which it appears to be doing. This is an unusually low-uncertainty situation. Everyone knows that … Read more
George Soros Comments On Graham Dodd
http://link.brightcove.com/services/player/bcpid607698505?bctid=28217116001 We used to have security analysis based on Graham and Dodd. Shares were supposed to reflect the underlying earning power… discounted earning power of the companies concerned. I mean… people who run hedge funds know that that’s not what it’s about. It’s about are the stocks going to go up or down? It doesn’t … Read more
Is There Another Bidder For Talbots? TLB Spikes.
What is going on? http://finance.yahoo.com/q?d=t&s=TLB
The Video Paul Tudor Jones Doesn’t Want Us To See
http://www.tudou.com/programs/view/XH5W4vffBbY/
Interesting Quotes From RenTec’s Jim Simons
“Speculation comes in and destroys trends. I am a speculator. It accelerates the trend. It gets you closer to the truth faster.” “We decided that systematic trading was best. Fundamental trading gave me ulcers.” “It took us six years to learn how to trade stocks.” “Trend-following is not such a good model. It’s simply eroded.” … Read more
Tales From A Floor Trader, Or Why The Fundamentals ARE IN The Technicals.
Me: “When you were a floor trader, did you use technical analysis much?” Nick: “Not really. You couldn’t really look at a chart and trade off that reliably. A lot of it was momentum, though. When it was going up, you had to buy it. We did a lot of spreads. We’d check open interest … Read more
Update On Apple: It’s A Myth That Apple’s OS Is “Closed” While Android Is “Open”: Evidence From Jailbreaking
The Apple Meme Is Still Strong This is self evident unless you live in a cave. Even among people not remotely interested in technology, Apple comes up in conversation. I hear Apple mentioned on random commercials. Whenever a computer is depicted, it tends to be a Mac. This weekend I saw John Oliver’s standup routine. … Read more
The Efficiency Of The Indian Market And Foreign Investor Inflows/Outflows; Jubilant Foodworks Has 1/2 The Market Cap Of DPZ, Despite Having Less Than 1/8 Of The Franchises: “Bingo” In Poker
Last week I got a primer on investing in India from a local. I like looking at things that are off the map, and India definitely qualifies. I could only find two academic papers on whether their stock market is efficient! It isn’t. For one thing, there appear to be day-of-the-week effects! Now I am … Read more
Apple Discloses 97% Of Suppliers
Apple just released a list of some of its major suppliers. Interestingly not one of the publicly traded companies has performed well in the market (except Samsung Electronics). Foxconn is back to where it was in early 2009, AU Optronics (the screen supplier for Macs) is near five-year lows, Vishay had a bad 2011, TriQuint … Read more
Eddie Lampert Raises; Then CIT Stops Factoring Sears’ Receivables
This weekend, an old acquaintance of mine was kind enough to tell me how stupid it was to have any long position in Sears Holdings. He is very good at analyzing retailers, among other things–and he has a great track record in all things short. He warned me that Sears might experience a supplier run. … Read more
More Evidence That The Apple Long Thesis Is Alive And Well: Motorola Sucks
http://www.businessweek.com/news/2012-01-10/google-falls-most-since-august-after-motorola-results.html Yesterday’s news. I apologize. There’s one company left on Earth I can think of whose stock price doesn’t reflect the rise of Apple. It is priced by absolute lunatics. It’s like Logitech. I’ll write something about it later. Sorry.
Urbana Corp. Trades At 55% Of “Readily Ascertainable” NAV
DISCLOSURE: I hold a long position in Urbana Corp. I don’t go around looking for things trading at big discounts to NAV. Obvious “bargains” are usually cheap for a reason, not just stocks. Besides, buying cheap stocks is worse than watching paint dry. They tend to stay cheap because no one ever finds them exciting. … Read more
Bill Browder: The Type Of Innovator The Fund Industry Needs
“What’s my unique comparative advantage with all these other people that are all so smart, and all so good, and all so ambitious… and I thought, ‘Well I’m a businessman. But I am also the grandson of the head of the Communist Party.’ And it just so happened that 1989 was the year that the … Read more
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