Every so often in this space I’ve suggested putting a small speculative bet on Russia. For example, a little over a year ago, May 2, 1997, I noted that the entire Russian stock market, though way up, still seemed to be valued at only about one third the value the market was placing on […]
Some market truisms seem positively antique they’re so deeply woven into the fabric of Wall Street. For example, “Don’t fight the tape.” They haven’t used actual tape for decades – the market ticker has long been a digital display. But everyone knows what “don’t fight the tape” means. (It means that if a stock or […]
Joey has given us permission to buy the tobacco stocks, which to him, at these prices and dividend yields (remember dividends?), represent the perfect hedge.
“Joey!” I cried in the same tone I imagine Caesar used when last he spoke with Brutus – “How could you be buying Philip Morris?!?!” Joey works harder against […]
“A humble question: How many pennies should one be allowed to use from the penny jar at the local gas station? Recently I filled up my gas tank and was 6 cents over $15 and without a credit card. I went inside to the cashier — a surly woman of modest pretense — and set […]
From Ed Shoben: “I know you are interested in closed-end funds, and I share your view that there may sometimes be opportunities in this sector. Buying $1 worth of assets for 80 cents is always an interesting idea.”
A.T.: Seems Ed owns some First Australia Fund (IAF), which he says hasn’t done particularly well. He […]
Yesterday, I made a case for considering placing a speculative bet or two in Asia. Does this make sense for a an investor with $25,000 in stocks and a 10% car loan? No. As I have argued before, that investor is effectively in the market on margin. He should first pay off the car […]
Perhaps the saddest-but-true Wall Street maxim is to buy "when there’s blood in the streets." Under this rule, the drop in the U.S. crime rate, especially in New York, could be seen as an ominous sign. Not enough blood. More to the point, the scary goings-on in Indonesia suggest it could be time for large, […]
Yesterday I told you what my full-service broker says he first learned when he came to Wall Street. “I can’t use that,” I protested. “It’s too ethnic.” (I used it anyway.)
An hour passed.
My phone rings.
I am screening my calls, so he gets the machine.
It is obvious he has now put […]
“Perhaps you could explain to me something that sounds like a mystery to me (I am sure there are many more) but which may not be at all. I have owned a few Sony Corp shares (SNE) for the last couple of months. Yesterday, Friday 05/08, I receive a newswire saying that Sony hit record […]
“I’m starting to see a trend in the products and services mentioned in your column. They all have the same initials. ATCall, Auto-by-Tel, AmeriTrade, Andy Tobias. Have you noticed this? Do you own all of these companies?” – Joe Robinson
I had the same thought about Mobil when it acquired Marcor and Montgomery Ward a […]
Quote of the Day
If you think it's messy there, said Albert Einstein of his paper-strewn office, you should see it up here, he smiled, pointing to his head.~.
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