Vitaliy Katsenelson
How Rising Stocks Lift the Economy
We often talk about how developments in the economy will impact the stock market, but we rarely discuss the other side of the relationship.
Microsoft’s best week in quite a while
Call it the wishful thinking of the guy who owns stock, but the news flow from the company this week was excellent: Microsoft (MSFT).
Susan Boyle of Software or Microsoft’s Got Talent
When I think of Microsoft stock, images of Susan Boyle in "Britain’s Got Talent" come to mind. The Scottish woman appeared and expectations of her singing were in line with her appearance.
What Future Holds?
A friend asked: What do you make of this rally? Is this May 2003 [beginning of four year cyclical bull market], or May 2008? [beginning of dramatic stock market declines]
China Growth – No Miracle
One should not confuse China's latest economic growth with sustainable growth.
Will China stay the capitalist course?
That public will becomes even stronger when a country’s past is ridden with political and economic misery. Think of Germany and Japan after World War II.
How stealing Chrysler threatens our markets
Wielding the public's empathy as a weapon, President Obama took Chrysler from its rightful owners: secured loan holders.
The Danger of Leveraged ETFs
There is a tremendous misconception that leveraged ETFs are to be used as long-term investments. On the surface they make a lot of sense.
Pricing Power
Got a letter from Bank of America (BAC) today that informed me that I am a great customer and also mentioned that B of A will be raising fees.
Mister Softie, are you serious?
I own Microsoft (MSFT) stock, and I do believe it is one of the steals of the century. But when I read that the code name for a phone, that is supposed to capture the days of glory from Apple's iPhone.
Obama’s First Econ Lesson
Education is expensive, consumes a lot of time and the payoff is not worth the trouble. This is a very early wake up call on socializing medical care in the US.
The Next Great Bubble: China
After the bubbles in technology, housing, and commodities, we saw the mother of all bubbles: the one in global liquidity. The world economy seemed to require bubbles for its continued functioning.
South Africa’s Heartbreak And Hope
When I was invited to give a presentation in March about my book to South African CFA Society members in Cape Town and Johannesburg, to say that my expectations for South Africa were low is a tremendous understatement.
Econ 101: Credit Card Fees
Banks opened a dirty, ugly Pandora's box when they destroyed their balance sheets to the point that the Federal government HAD to bail them out.
Citi really earn money?
If you thought banks like Citigroup (C) made money in the first quarter, think again. Its business just deteriorated and bonds declined so much.
Who’s going to buy gold?
Gold is one of those weird assets where nobody knows what it is really worth. You cannot run discounted cash flow analysis to value it.
Question to Readers
The economic picture has changed dramatically since Active Value Investing came out. Over the last six months I’ve been getting a lot of questions from readers.
Stock Prices, Consumer Confidence, CEOs — Self-Fulfiling
I'll not make a prediction if this latest rally in stocks is sustainable or not. I don't know. But it is self-fulfilling.
See You In Omaha
I’ll be attending Berkshire Hathaway’s annual meeting at the beginning of May. After attending it last year, I had serious doubts about returning.
Petrochemicals story continued
Basically, global consumption of goods decline, fewer goods manufactured, and fewer ships are needed to cross the Atlantic. Simply, less petrochemicals used.
The slippery slope of petrochemicals
I am back from South Africa where I spoke about my range-bound market thesis to South African Society of CFA in both Johannesburg and Cape Town.
