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Hey AD, It might be drier up on those hills. Anyway, like Newly posted I hope at least those floors made it ok.
BTW, DECK has been super strong. Even I won't short it. (yet!) Actually they really expanded their product line. Although it doesn't mean its not expensive.
I haven't been keeping up on the boards the way I used to, but it seems as though you haven't been around yourself. I hope everything is ok.
Thanks Damian (edit and Mountain Man), I was wondering how Joe is doing. I'm glad that the most important things are fine. And I'm sure everyone here is looking forward to his return.
Sounds adorable actually. Is this a gift for your honey? (getting the floors done while she is away)
With huge ranges between bid and ask on buildings, there are few transactions. When loans come due and technical defaults there is a lot a forbearance by lending institutions (What would they do with the real estate? Might as well have the owner still operate it.)
Charge off could be after a certain amount of time delinquent. Also, on a numbers game for earnings, if you pad the charge offs and then they aren't so bad you can make it seem as though the earnings are better in later quarters.
I believe I just read that Discover card had higher delinquencies with a rate closer to 10%!
Tinner posted on Zeev's board:
Discover Financial charge-offs rise, shares fall 09/15 08:41 AM
* U.S. charge-off rate goes up to 9.16 pct
* Shares fall 1.2 percent to $14.85
NEW YORK, Sept 15 (Reuters) - Discover Financial Services (DFS:$14.8294,$-0.2006,-1.33%) said credit card defaults and late payments rose in August from July as unemployment hit its highest level in 26 years, sending the company's shares down 1.3 percent.
The sixth-largest U.S. credit card issuer said on Tuesday its charge-off rate -- loans the company does not expect to be repaid -- rose to 9.16 percent in August from 8.43 percent in July.
I imagine it is difficult to justify laying off employees and then buying back stock....
Interesting. And thanks again.
<<The first trade is on GILD we call a Waterfall that does not work after that are the plays that were winners >>
landm, on GILD, does that mean the anticipated move is up?
Thanks!
Maine, I'm sorry for your loss. It sounds like you were a good son and I'm sure she loved you (that's why it hurts so much.) I lost my Mom, a great and funny lady, just over two years ago. Its just one day at a time.
And you are so right, you never know what tomorrow will bring.
I didn't know AAPL has an announcement coming on Weds. No wonder it is up strong.
Joe, you hit the nail on the head with my problems with bond funds, mutual funds and so called advisers. Depending on how much one has to invest though, folks with limited funds can not buy individual bonds and have enough to diversify, so the only choice are bond funds and you are at the mercy of the talent of the person at the helm.
I believe that no one watches your money than yourself, so it should be each individual's responsibility to pay attention to what is going on. They should do this even if they have an adviser.
75% equity for a retired person sounds like a lot to me unless she is a young one. It also helps to know what kind of equity. But as we well know even the good stuff got major haircuts in these downdrafts we have experienced. Time line is important here (not to mention each individual's appetite for risk. I fear that with a bond only portfolio, people have a greater chance of outliving their investments. And with the possibility of future inflation, a bond portfolio won't provide enough of those cheapened dollars. Some equity exposure attempts to prevent that. That is why I appreciate your work on dividend paying stocks and writing premium.
We agree more than we disagree. I was just picking a bone on the 100% part. (By the way I have the same discussions with my brother who just wants to hold bonds.)
I think 100% fixed income is risky too. Bonds lose value as well in the short term. But diversification has been drummed into my brain.
Zeev had a term for this....NLBNL
However, I must say I enjoyed the additional color you provided.
So off white and light gray are ok. I was envisioning green buttons for days you want the market to go up and red buttons for the down days.
Why would you want colored buttons anyway?
Oracle is buying them. (JAVA)
Great post fabian. Several pearls of wisdom there. I like your depiction of stock idea lists.
It has been pointed out to me that alternative energy is weak because of the weakness in natural gas. If you think natural gas is going higher then it could be another reason to step into alt energy.
I read or heard somewhere that CIT did not make any money the past 2 years. So if they couldn't make $ before you know what hit the fan, then I can't imagine they do it now. I have no position in the stock and haven't. Its just another sore subject for the American taxpayer. That said, I'd rather we "save" CIT than have this health care reform as currently proposed being jammed down. Plus, I want you to make money on your position!
From what I gathered, CIT was doing poorly even before the banking crisis hit. Shareholders were diluted on previous occasions but it still didn't help. Why should the taxpayers be on the hook for what appears to be a long-time poorly run company?
There will always be another play, Paul. I didn't do anything with USU either. I'm not familiar with how it trades and I didn't have a chance to check into it for a longer hold. I just thought you used to trade it and could make some coin.
I found your billboard. I couldn't make out a sponsor either. I think in the lower right it had the initials AIP with a shooting star logo. What I found that was odd, was that the billboard seems to be within the Interstate right of way.
OT, Newly, you miss Redding by taking 89 northbound. You might have to travel 44 East a little to pick up 89, and it is a little longer, but a much nicer route. If you have time, stop at Burney Falls. It is a short walk to the bottom of the falls and it will cool you off. If you have time there are other trails as well.
OT, This might be too late but Route 89 to Mt Shasta from Lassen is a nice ride. You can pick up I 5 again there.
I'll be going up that way soon. Maybe I can see who paid for that ad. It is a very conservative population in Upstate CA.
HITK up big today. Zeev followed this at one time.
zab, USU was a pick by one of the commentators on FastMoney yesterday after the close.
Hey Paul, something for you to take a look at when you get back - USU. Was a pick on FastMoney today. If I remember correctly, you used to like to play this one.
Opnion, question about Au, if you have a min, --do you see it going up much from here ($912) prior to your expected drop?
Thanks!
You don't have to apply the FIFO rules.
My understanding is you can do it either way. Just identify which shares go with which trade. The tougher question I think is if you use a software program to compile your schedule D. You have to see what their default would be and perhaps adjust the trades.
AFF is down big also. I sold that one a ways back at a small profit. I was surprised to see it move up as far as it did.
I believe IRAs are a great place to do covered calls. If the call you write is in danger of being exercised and you don't want to buy the calls back, then when you have to sell the stock you don't have to worry about if the gain is long term versus short term (and possibly starting the clock again on a new buy should you choose to buy new shares.) I hope this makes sense.
Newly, I owe you a reply on an older post. I hope to get to it tonight.
Newly, if things are that bad here, then I would expect them to be worse in Brazil, especially if I was a recent arrival.
Maybe the interior is trashed. Appliances gone? I would imagine these sales are "as is".
Newly, are you sure it wasn't your eyes playing tricks on you with all that road buzz?
OT I am not a Lemurian, but their representatives have been known to participate in the town's 4th of July parade.
OT I heard the Lemurians are alive and well up in Mt Shasta, CA. ;)