Although I always like your posts, Mark, I had sort of written you off as a sort of cranky superbear. But this time, I think you might be right. There seems to be a lot of sentiment for a bounce right here, it would be odd if such a consensus were right. I'm ready to buy some VGK, but I didn't buy any yesterday and I plan to wait a bit longer. Still, it's starting to look like pretty good value, on the currency play alone.
Musk is starting to look like a latter day John Fredericksen, wheeling and dealing with a web of interrelated companies, most of them losing money most of the time. JF's fish farming operation, which is supposedly quite profitable, is privately held. We'll see if that sort of thing happens with Musk.
A while ago you posted that you had sold everything, but since then your posts have suggested that you have some stocks in your portfolio. How much do you have in stocks? For me it is about 60% stock, 40% cash.
SFL owns more than 20% of FRO, and as such, FRO should be treated as an affiliate and FRO earnings included in SFLs. With these offshore companies accounting is always a roll of the dice, but I think the FRO earnings are includied in SFLs results.
That may influence SFLs decision to sell those FRO shares.
It also means the company is susceptible to a rise in interest rates. I am holding the SFL I bought late last year and early this year, but SFL has a lot of LIBOR debt.
Isn't it JF's style to just get his companies more and more entangled with one another? I would like a simpler capital structure for SFL, too, but I'm not holding my breath.
I think GSL is another one (like SSW, discussed in another thread) with these strange "failure to redeem" and other features in their preferreds. I don't know. But if they have clauses like these, it could mean some big financing costs in the near future.
Yahoo won't let you post non-Yahoo web sites, but if you go to the federal reserve official web site, there is a wealth of data there, including the Fed's own balance sheet, which answers the question you asked.
Yeah, one of the things I don't like about Berkshire. But I have always sold insurance companies too soon, so I'm going to hang onto this one a while longer.
Fairfax Financial. Watsa has his own issues, but even with his Blackberry disaster I think the portfolio is far better positioned going forward than Berkshire. And it pays a dividend.
I've bought 3 times since August. I am ready to buy another time, but maybe not for several months. Do not chase SFL. Wait, buy when SDRL misses an interest payment or something like that.
Historically, utilities are weak early in a bull market and strengthen later. I haven't looked at it in years, but the the ratio DJT/DJU used to be a very reliable leading indicator for DJI.
axp, do you agree with me that STX is a dying company, albeit one that is going gracefully? Not a place to keep doubling down, I would think.
3X ETFs all do great when times are good, but in the long run they eat you alive, like our friend TVIX.
If you want a relatively safe (emphasis on "relative") gold stock, I recommend SAND. If you want a crazy speculation, look at AUQ.