Place your bets on the Mohegan Tribal Gaming Authority

August 31, 2010

As I seem to be in a mood to find junk bonds lately, I am pleased to present you with the bonds of the Mohegan Tribal Gaming Authority. The Mohegan Tribe operates a massive casino in Connecticut, one of only two casinos in New England, as well as several other ventures. The company has been […]


How badly do taxes stifle GDP growth?

August 28, 2010
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I noticed on Yahoo! finance a couple of days ago that Paul Otellini, CEO of Intel, publicly complained that, owing to high taxes and regulatory uncertainty, innovation and growth in the US would be stifled and, of course, Obama is to blame. Of course, this would be the same Intel that paid AMD a $1.25 […]


Amkor Technologies (AMKR) – The cheapest packager in town

August 23, 2010

I find that the stocks I like seem to come in pairs. I liked oil and gas producers Linn Energy and Breitburn; I liked phone companies Windstream and Qwest, and now in the contract manufacturing sectors, I liked Keytronic and now I like Amkor Technology (AMKR). Amkor produces semiconductor packaging for other manufacturers, and also […]


Western Refining’s (WNR) junk bonds are worth the risk

August 16, 2010

I have a certain weakness in my heart for junk bonds. Junk bonds, of course, are bonds with a sub-investment grade credit rating, and they can range from just barely on the cusp of investment grade to the point where the purchaser would have to be crazy to consider them. As Ben Graham wrote, an […]


United Online needs some traction

August 9, 2010

The below post was a foray into the world of macroeconomics, a matter which I have no formal and little informal education in but I nonetheless feel perfectly qualified to give my opinion, just like everyone else. Now I would like to talk about issues in valuing United Online, a matter with which I have […]


Hyperinflation – Cheer up world, it may never happen

August 8, 2010

I should make it clear at the outset of this article that I’m not an economist. But, like many people who begin their speeches with those words, I won’t let it affect what I have to say. I have made it clear in the past that I take a sanguine view of the possibility of […]


Be very very quiet. It’s earnings season (Chiquita Brands and Linn Energy)

August 1, 2010

Benjamin Graham gave two useful pieces of advice that are applicable during earnings season. First, don’t pay too much attention to the results of a single quarter. Second, when paying too much attention to the results of a single quarter, make sure that you strip out the nonrecurring events in order to get a better […]


Earnings season part 2 – Linn Energy

August 1, 2010

Linn Energy (LINE), the other company I wanted to discuss, has a more opaque set of figures, and this may be due to the fact that their derivatives strategy is more integral to their business. But on the other hand, Warren Buffett has stated that if a company wants you to understand its financial statements, […]