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Comments
Whatever I make on QLIK will replace the fund I allocated for the LFA. It'll be a cash purchase as required by Lexus. Therefore it would have been silly to count on any return on investments, especially high risk one.
This is a very impressive day for the stock market considering the huge move up yesterday. Obviously there has been no profit taking. The jobs number will be the key tomorrow.
If you are not careful, a bunch of us will be visiting you in Canada after your LFA arrives.
Love that LFA !!
2013 LX 570 2016 LS 460
I'm a subchapter S (most are that or LLC's, which except for ever so slight legal differences are the same thing with respect to tax) so the income passes directly to me as an individual. So whatever he's talking about, and it seems like a lot of political BS to me, I have no clue. What he needs to do pure and siomple is let folks know what taxes will be over the long-term. Without that foundation everyone who is in business and is taxed at an individual basis (and that's every business I know of that wants to avoid double taxation) is frozen. If he's really pro-business and job creation he'd, at a minimum make the Bush tax cuts permanent. I've read so many stories about how lower taxes creates jobs, and I've also read a few about how they d'ont solve the job problem, so why not just raise taxes. But the problem I've had with the latter is that none of them dealt with raising taxes in a climate that featured such a severe credit squeeze and lack of bank lending to small business.
Obama has an unsolvable problem that he himself has created. He wants the worker to get wealthier while the owner gets poorer. Isn't taht what 'spreading it around means" . Short of seizing the business assets that folks own, I know of no way for Obama to achieve his objective in a capatilistic society.
I know exactly what you are saying. My friends with small business do not want to take a chance expanding and get shot down by higher taxes. Or worse the Cap n Trade tax that will be open season on many small and large businesses. This is the most anti business Congress and President in my 67 years in the USA. And there have been some bad ones in the late 1970s.
Gary, this is the worst I've ever seen and the guy in charge is a bookworm with no experience and no know-how. Isn't it amazing how Europe is taking the exact opposite approach and doing almost to a letter what the republicans want to do. The European leaders think Obama is a joke.
THANK YOU. St. Regis is the name of a hotel in NYC that I stayed at several years ago. One of those things where I have a mental block and could not remember that name to save my life!!
2013 LX 570 2016 LS 460
I've found that a lot of American companies tend to ignore the GTA as a potential market, in spite the fact that it is roughly the same size as Chicago in population. You've probably found that too when you had your clients here? So my business partner and I are planning to dominate the area, and Canada too if possible.
Regarding Taxes and Businesses, while I don't follow what's going on south of the border, I do know that we have had some of the highest taxes coming out of the 1989-1991 recession. That lasted a decade while being hit with the NAFTA double whammy where cheap labor were found in Mexico and elsewhere, but businesses and people here had found ways to survive and prosper. Therefore, perhaps your President is borrowing that formula to bring the country out of this lingering recession.
All of which gets back to the jittery market in the USA. Our unemployment does not look to improve with this political climate. Borrowing from the future to insure votes is the policy du jour. We are in an unsustainable situation that continues to worsen with every piece of legislation.
By the way about 1/3rd of my IRA is invested in a Canadian fund FICDX. It is a 5 star fund. Though it has been marginal as I bought in fairly high.
Obama was voted in via desperation about a GOP that had derailed and was unable to offer anything superior, combined with bitter feelings about the chickenhawk war criminal element of the previous regime. The onus is on the GOP and they alone to craft and promote a superior candidate for the next big day. It shouldn't be too tough, given the cluelessness and ineptitude of the Obama regime....but still, I won't hold my breath.
If they put Sarah up to the task, B.O. is a shoe-in for four more years.
When Uncle Sam unloads its shares, I do believe that in several years time, we will see Citi shares approaching a double, again due in large part to its unique international business. I do not see it returning more than that, however (as I once did), but that is still an excellent return, IMHO. I don't believe there are many stocks that offer the opportunity to return a double in that amount of time, or even offer a 50% return. Certainly stocks like QLIK can do so, but again, those are rare. The stock market gives and takes away, and over time, it is nice to find a stock that has a reasonable upside potential in comparison to its downside potential. The most likely risk is that the stock simply doesn't do much at all for a while.
All that said, I don't own a ton of Citi, but I am very glad that I have some in my very diversified portfolio, which is now being handled mostly by my broker nowadays. I really needed a rest from all the daily trading for a while, but he and I still discuss the portfolio enough that I am satisfied with what he's doing. So far, he's doing very well for me in a very short time.
Of course, political interference and global events can ruin any well-intentioned investment plans, so just being in the market itself is a bit riskly these days. However, the last few days proved what I've been saying... the market is poised for a rally. Unfortunately, the recent news isn't the kind that will sustain a genuine long-term rally, but it clearly shows just how anxious traders and investors are for any excuse to run the market up in a big way.
So, if/when we get genuine significant positive data, the stock market will go to the moon.
Now, back to the Labor Day festivities!
TM
FWIW... Here's another positive perspective on Citigroup as recent as Friday. And there are many, many positive views from analysyts regarding Citi out there.
Banks Are ‘Really Cheap’—Buy These Names Now: Strategist
Published: Friday, 3 Sep 2010 | 3:39 PM ET By: JeeYeon Park
CNBC News Associate
Financial stocks have taken a hit over the summer: the KBW Bank index tumbled almost 10 percent since the beginning of May. So will the industry see a rebound in the fall—and should investors get in now? Anton Schutz, president of Mendon Capital, and Paul Miller, group head of financial services at FBR Capital Markets, shared their insights.
“They’re really cheap versus P/E, versus book value,” Schutz told CNBC.
"We’re going to see some return of capital to shareholders and companies like Citigroup [C 3.91 +0.03 (+0.77%) ] and JPMorgan [JPM 39.17 +1.01 (+2.65%) ] have huge tangible common equity ratios,” he continued.
“I think dividends and buybacks will be something we’ll be talking about, as soon as a quarter or two from now.”
Schutz said he also likes the regionals, as he expects to see a wave of M&A activity in the sector.
Miller: 'Tons of Money'
In the meantime, Miller said he favors big and medium-big banks such as Bank of America [BAC 13.50 +0.22 (+1.66%) ] and PNC Financial [PNC 54.93 +0.82 (+1.52%) ].
“We started reserving tons of money over the last 3 to 4 years in these banks, so the reserves are there, credits are improving We have another refi boom going on and the gain on sale margins and the mortgage banking space is very strong. And it's going to help earnings into the quarter,” he explained.
TM
Economists: Gloom and Doom Ahead—Especially for the US
Published: Friday, 3 Sep 2010 | 11:28 AM ET
By: Associated Press
Is the global economy out of the woods?
Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world.
Here's the whole story... Read it if you don't mind being depressed about the economic outlook.
link title
TM
TM
But anyway, I don't think the financial world is coming to an end. I don't have a doctorate in econ or anything, but I think there's enough intelligence and ability out there to keep the ship afloat. Growth is just going to be slower, which in the long run IMO will be a positive ideal. Lending is a big part of it, maybe the driver, along with the idea of "animal spirits" controlling everything.
I totally agree with your assessment.
Tony, good to see you back.
He cited at least 5 reasons why he believes the market is about to "go to the moon": These include compromises in Congress on the tax cuts, Obama becoming more pro business, an improving European business outlook, China continuing to have a booming economy, and last but not least, the media being SO negative on the market. He is rather fun to listen to. I think he makes some very good points on the state of the economy and the stock market. I LOVE his last reason for a very bullish scenario.
GS, I did not realize the QLIK closed SO strong today. I knew it was higher but wow! Almost to $21. Fantastic!
Finally, did I miss something recently? Did Tony get sick or something? Tony, I hope you are feeling great.
Regards,
OW
I'm right here... just been a bit busy lately.
As you know, I've stated clearly and emphatically in several recent posts that the market is poised to "go to the moon", and that all it needs are some solid reasons to do so. I find it interesting that Charlie is quoting Cramer today. Seems Mr. Cramer agrees with me and is saying much of the exact same thing, although I said it first right here on this forum! Maybe I should be one of Cramer's writers on his show... LOL.
Anyway, the picture on the financials is legitimate, IMO... but I'll feel better once they get through October.
I'm liking this market!
TM
As for the market, I am still leery of it, although I am hoping that it will continue to rise and I can sell my C and WFC and then re enter at a lower price
I feel the same way.
TM
I got a question. With Citi the highest volume so far today, do you think the Feds are dumping some of their "C" stock?
The fed doesn't sell the shares directly. I believe that Morgan Stanley was given authority by the feds to oversee the sale of Citi shares, and I have seen no reports of any large-scale sale today, which would typically be newsworthy.
While sales of government-owned shares is a possibility, the volume is more likely larger investors coming to the table and getting interested in Citi. IMO, the slight retreat today is natural after the recent gains, and the financial sector's behavior in general.
It's my understanding that there will be a blackout affecting the sale of government-owned shares coming up in October, and also there are many analysts that think the government will not be able to meet its target of selling all its Citi shares by the end of this year. That said, I am still very confident regarding Citi for the loooooong run. Patience is required.
TM
Regards,
Jose
Yes, you did mention that the market would go "to the moon" if given a good reason. To me however, I really don't see anything that looks very different now as opposed to back in May and June. I was of the strong opinion then as I am now that the doom and gloom people are full of skata (that's Greek for you know what). We will not see a repeat of of 2008 and early 2009. That is why I have held on to basically all my stocks I have been accumulating (taking some partial profits once in a while and buying back on dips) since the spring of 2009. Even my Amazon has made a tremendous recovery the past few weeks after getting hammered. AAPL and QLIK (thanks again GS!) are my biggest winners.
GS, did you state a couple weeks ago that the near term upside potential for QLIK was about 22? If so, we are there. Should I take profits?
I have spent a while over on my home page and I don`t know how to do anything there nor does it show any message from you --that I can tell
That was the opinion of the Analyst at one of the big investment firms, not mine. I am still waiting for something better.
Unfortunately, by the time I realized it was him, I missed the whole discussion.
I can see the potential for many companies to use QLIK's software, so the sales territory for QLIK is still wide open, which makes me believe that there is plenty of growth potential for the company.
I do hope however, that QLIK isn't a one-act company. They will benefit from expansion, plug-in software, and upgrades for the existing product, and most importantly they will need something new and innovative in their pipeline. If they can pull it off, they could be a monster of a company, and their stock could go up 500 - 1000 %. It happens... and it will be fascinating to see if QLIK is one of those terrific success stories.
I am so glad I own shares of the stock, even though I don't own the massive amount I previously owned, but they served me well. I only purchased 500 shares on the last round, but nonetheless I am with GS on this... I'm in it for the looooong run, and if it takes a noteworthy dip, I might consider buying some more.
Always a big thanks to GS for this exciting stock that he has brought to all of us and to this forum.
TM
I don't know if they have any plan for other product, but I do know a lot of people developed apps using QV and sell them as their own products.
Look at Cognos and Business Objects that were essentially one-act company. I think the share holders there did just fine.
But if not working, try to send it to this other address:
944607970@telefonica.net
This comment is answering also that of Tony and valid for any other fellow in this thread in case of wishing to communicate with me out of CarSpace net.
Out of 'office' for a week. I'll read you later.
Regards,
Jose
I sent a message to that address, so I hope it works..Let me know. Tony