Who needs reality TV? I’m sure readers have read tomes on the bailout and probably have pretty strong negative positions on it already. It’s sickening all the way around — everyone agrees on that. I’m less sure that readers truly know what the stakes are. After all, constant cries of “economic crisis” doesn’t really say much about what specifically is going on. My take is as follows: Michael “Mish” Shedlock has been ringing the alarm [...]
2008 Q2 highlights (all figures C$ unless otherwise noted): Due to the acquisitions, YOY comparisons may be misleading so I will be focusing on changes from Q1 2008. Keep in mind the big spike in oil prices during the quarter (and the big drop since). Operating cash flow improved markedly in Q2 2008 to $671M, [...]
Most readers (at least the stock-watchers among you) should be aware of the conflict in Georgia by now. Inexplicably, news of Russia opening a 2nd front has not prevented oil from falling 2% and gold 4% on the day. Perhaps I don’t pay enough respect to the power of technicals to move markets (sentiment is [...]
On the eve of Cryptologic’s (CRYP) earnings release, I am posting my report on the company. In the end, I just chalked this one up to the “too hard” basket. I just can’t get a comfortable handle on their future business prospects and that combined with the illiquidity of the stock means I’m taking a [...]
Click here to view the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +9.6% YTD (including dividends) DJIA: -14.2% Nasdaq: -12.3% S&P 500: -13.7% DJ WIlshire 5000: -12.6% Reuters 2000 (smallcap): -6.7% Due to the commodities correction currently underway, [...]
As a value investor, I am used to buying stocks as they go down and averaging into a position. While I believe that markets are not totally efficient, they are fairly efficient and so when Mr. Market marks down 40% a position that I already believed to be heavily discounted, I do not subscribe to [...]
