Let me tell you youngsters about the time back in my day, oh so far back in 2011, which was the last time that Gold had a massive rally. This was a time before Robinhood and Dave Portnoy. We didn't have any fancy apps to trade from and commissions sure as hell weren't free. Every… Continue reading Gold: Lighten Up Already
In 2018 I thought the second lien notes of Pyxus International Inc represented a good reward to risk ratio. 2 years later and it turns out I was completely wrong as Pyxus International Inc stock went to 11 cents per share and the second lien notes were offered 2 cents on the dollar in a prepackaged Chapter 11 bankruptcy.
There have been more and more articles popping up in the media talking about all the degenerate gamblers opening stock trading accounts and how it won't end well for them. Given the estimated $150B that's wagered in the United States every year it's possible there is enough new money coming into the market to move… Continue reading Welcome All Sports Bettors
Of all the things that happened in April, it had to be the crash in oil futures that best represents what keeps a trader up at night. On April 20th, crude oil futures for May delivery settled at NEGATIVE $37.63 per barrel. That's right, if you were on the hook to have a barrel of crude… Continue reading Trader Nightmares
One of the great things about the internet and social media is all the investing and trading greats sharing their views and opinions. And then there are random guys like me. As I was checking in on Tesla's results last month and reviewing the post I wrote a year ago regarding Tesla's stumbles, realizing that… Continue reading Perfect Trades vs Perfect Investments
'Tis the season for... stock market predictions! Back when I was a wee credit analyst, my boss would ask me if I got updated financial projections from the management teams of the companies in my portfolio and what I thought of them. When I was just starting out, I would struggle to answer that question… Continue reading Stock Market Predictions
August 15, 2019 was a rough day for General Electric's (GE) stock. Harry Markopolos, the guy who unraveled the Enron accounting fraud, released a 169-page report claiming that GE was a bigger fraud than Enron. The gist of the report was that GE was hiding a bunch of long-term care insurance liabilities and that if… Continue reading Will Legacy Liabilities Sink General Electric (GE)?
I know, I know: I apologize. That must be the most click-baity headline you've seen today. But stay with me because, with a little financial engineering, every blue-chip company out there that still has underfunded pension liabilities now has the opportunity of a generation. With a phone call to their favorite investment banker they can… Continue reading Now is the Time for Pension Liability Risk Transfer!
Now is as good as time as any to explain the difference between unaudited and audited personal financial statements that get submitted to a bank, how a banker looks at personal financial statements, and what crosses the line between normal and criminal. Personal Financial Statements A personal financial statement that an individual submits to a… Continue reading Submitting Financial Statements to a Bank: an Explainer