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  • Quitting the Hedge Fund Game - Mark Sellers
    Oh felix, you couldn't be more wrong!! what a poor artcile that reads like someone who jubilates about another one's pain. perhaps you simply can't stand seller's long time success, can you?

    the rule#1 means not to lose money - in the sense of a permanent impairment of capital. it does not at all mean that you only buy things that go up in value immediately!

    so sellers closing the fund simply means he does not want redemptions to force him to realize losses on sound investments. that's the big advantage of berkshire: it 's investments can go down - and big, but people can't take their money (insurance premiums) out.

    and, btw., one of Seller's biggest positions is MCF. and boy, does this company sell very cheap compared to what it is actually worth!

    such artciles are below your level, felix - or may be, some other by you simply were positive exceptions? you decide.
    Oct 17 10:57 am |Rating: 0 0 |Link to Comment |View article
  • American Express Calls Investment Banks' Bluff
    remember what WFC said, did boost their earnings? a huge increase in their credit card business. Give me a break! it seems they generated lots of fees and profits there which will come home to roost over the coming quarters and years.
    and to all the V and MA-lovers who immediately react if their darlings are mentioned with axp: the author didn't state that V or MA were in trouble. he simply wanted to illustrate the point that axp has a higher net-worth and higher turnover-clientele than the two. and that therefore, a deterioration here is extremelx significant for the financial sector. so sit back and relax. nobody slapped your two darlings.
    funny. really.
    Jul 25 05:49 am |Rating: 0 0 |Link to Comment |View article
  • Why American Express Should Be Ignored
    @jake: they are different than axp. still, expectations of exponential growth more often than not do not materialize. europe is close to a recession now and the u.s. is already in one - except for the number massaging done by the govt. anyone who believes the emerging markets will be immune from that is just dreaming. the high oil price masks the decline in many commodities and by now oil is pure speculation. a year from now it will be back to 80$/bl, asia and brazil will have tanked big and people will wonder how all that 'growth' could disappear so quickly. well, it hasn't . it has never been there in the first place - only in the expectations of people who extrapolate past trends indefinitely into the future
    Jul 15 09:23 am |Rating: 0 0 |Link to Comment |View article
  • Why American Express Should Be Ignored
    counterintuitive as it may seem. axp probably is the better deal compared to MA andV here. why? simply because the expectations diverge so massively. on one side, axp, where people fear for something pretty short of armageddon. on the other, v and ma where people - absurdly- think that they were immune from global economic slowdowns and are willing to pay up big time for a perceived growth that may or may not materialize. the former, axp is exposed to positive suprises from here - while the opposite holds true for v and ma.
    as for me, i to ignore all three of them at this time
    Jul 15 06:57 am |Rating: 0 0