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"We should wish for IMB's stock to languish throughout the next 5 years." - Warren Buffett from his recent annual letter. Buffett wins because he understands this concept from the core of his being. I'm trying my best, but it's really quite tough. If you own good companies over a long time...

I'd rather be governed by the first 100 names in the Boston phone directory than 100 graduates of Harvard (or Yale!)

Hussman this morning ... All job growth since 2009 has been from seniors. Jobs to those 55 and under continue to shrink. The entire essay a great takedown of the current and previous sociopaths running monetary policy in the country. What we've observed in the employment figures is not...

A butterfly flaps its wings in Syntagma ... http://www.athensnews.gr/portal/1/54580

Everything is completely dependent on the next datapoint with this crowd. A couple of weak numbers and/or the smallest selloff in shares and QE is right back on. Borderline sociopaths.

AMZN downgrade this morning. I expect stock will open up a down a few percent. I'll cover some of my puts and have a freeroll with the rest of them.

ZH does non-subscribers (to Grant's) a favor and publishes (I don't know how they do it!) a recent piece of Jim Grant's. He was asked to come the the FRBNY and criticize them, which he did ... brilliantly...

BTW, AMZN is not a momo stock. Shares have had a big month, yet still remain 20% below all-time high. Stock is up just 13% Y/Y (with all the gain and more this month). It's hardly Netflix circa summer 2011.

Stick to top-ticking TLT then. PE ratio means about zero to my short thesis. P means everything, and the company makes little of it (and if revenue growth starts to show signs of slowing more, you might as well put a $60 handle on the stock).

Upper hands fade quickly. They had the upper hand last year until they didn't and the stock dumped 30% in a few weeks while the rest of the market screamed higher.

Amazon - they lose money on everything, but make up for it with volume. Might as well value the stock on "eyeballs" like those Internet co's of the late 90s. http://seekingalpha.com/article/465111-amazondeal-does-it-again?source=kizur :p

You're buying businesses, not stocks, so the price of a share is irrelevant. Apple would be the same exact company if it did a 6000:1 stock split and traded at $0.10 instead of $600. Now if we're talking about penny stocks that are priced that way just to draw the attention of the speculators...

For the love of god, cliff's notes please. J/K a bit, I have no qualms with setting up for a short-term reversal of China-going-down plays.

Getting uglier in China .... http://www.reuters.com/article/2012/03/29/markets-ratings-renhe-idUSWNA372820120329

It's not THE China play, but it is A China play. Their reliance on Australian (moving commodities, hence China) activity has surged over the past couple of years. It is this that is fueling revenue and earnings growth and this that will fuel their revenue and earnings slowdown. Plus, it sells at...

Just picked up a few puts on AMZN and SPY. Getting a little uncomfortable with stocks up so much this year and this is cheap, cheap, cheap insurance. Will look for the smallest of bounces to add to GWR short as well. Things really getting ugly in China.

Move?

It's an election year and his days as Fed chief are numbered if Obama is defeated. I'm pretty sure this explains every action the man takes.

QE3 Hello!

You made me go back and resurf the report. :) Page 100 shows a choppy, but mostly weaker HKD over time, with the peg in the mid-80s locking the HKD in at its weakest value of the century (though I believe it was weaker for a short period right before the peg). There's nothing wrong with...