14 km in a straight line from the city center, in Metro line 2 stop called Guanglan, there are some apartment houses and what looks like an abandoned part of the hightech park Zhangjiang, where I worked. I will present some pictures here that may help to prove my point about RE bubble, but this may… Read More »
After over 3 weeks in Shanghai I feel ready to tell my uneducated, see for yourself, personal point of view. I read many articles about China's RE bubble. During the passing three weeks I've bumped into a (awfully) silent reminders of it, standing here and there, reminding me of its existence. I've included some pictures… Read More »
I landed in Shanghai yesterday, as some of you know, I am going to spend a month here. It already feels like I've been here for a long time. The city is huge, much more than I expected. There is EVERYTHING here. I took the Maglev from the airport to the city center (Long Yang… Read More »
Stocks recovered much of their losses from yesterday. It may sound a little funny to most readers but the truth is that I am a little disappointed that I did not manage to buy everything I wanted. I thought declines will last a little longer… 🙂 I actually got some cash that I wanted to use but… Read More »
Feels like 2008 all over again. S&P Downgraded … the USA ! I still don't get it, how can you downgrade a country that prints its own debt denominated currency, how can you downgrade a country that cannot go bankrupt. Buffett commented that it was not a wise move. (EDIT: see first comment below) Ironically,… Read More »
Many of you probably recall the articles I wrote for Seeking Alpha (Article 1, Article 2, Article 3) a few months ago. Since then, the company's share price has declined by a more than 30%, but we'll get to this later on. Before reading, I recommend that you read the 3 articles above. As some… Read More »
During the last 3 days Wells Fargo TARP warrants exploded with 16.6% return, along with the stock, from a price of 8.4$ per warrant to 9.8$. WFC Warrants present an interesting opportunity since their expiration date is very far from now – October 28th 2018, or over 7 years. Their strike price is 34.01$ – each warrant can… Read More »
כבמטה קסם, שבועיים בערך לאחר שיניב פרסם בפוסט האורח שלו את מחשבותינו על שוק הדיור האמריקאי חלה קפיצה יפה בהתחלות הבניה. מספר חברים פנו אלי והביעו את הערכתם "שחזינו זאת מראש". כמובן שהערכה תמיד מתקבלת בביתנו בברכה, אך לא כאשר היא לא מגיעה לנו, או לפחות עדיין לא. לא חזינו את העתיד וגם אנחנו הופתענו… Read More »
The US market has "gone nowhere" during the last decade and even more. This "lost decade"* came only after the longest and the most magnificent bull market of all times that started in 1981 and lasted for 18 years, ending the most amazing 5 years, from 1995-1999, the only 5 years in history in which… Read More »
I got a question from a friend a few days ago that made me think and I wanted to share: Got a quick inventory valuation questions, hope you could help 🙂 below is a snippet from SVU's latest annual report, which puzzles me. They say 79% of inventories are valued using LIFO. I thought… Read More »