Monthly Archives: July 2011

People are starting to catch on regarding “Dead” stocks.

A few weeks ago I spoke about “dead money” stocks that have been trading flat over the past decade.  The reason they have traded flat for so long is that their valuations in 2000 were ridiculously high.  Whenever you invest … Continue reading

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Andrew Lyon on total amount of corporate deferred taxes: “We have not looked at that data.”

Well, I have.  And it’s not pretty. [You would think a former treasury secretary and current PwC employee would have actually considered this “data” to be a little important.  Evidently not.] Corporations paid roughly $190B in federal taxes in 2010 … Continue reading

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Deferred Taxes – a Sneaky Form of Cheap Financing

One of my latest engagements has been to dig a little deeper with deferred tax liabilities.  The initial spark for this study was my noticing that Intel’s deferred tax liabilities jumped by $850M during their most recent quarter, on earnings … Continue reading

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Notes from “How Quickly they Forget” – Howard Marks

Howard Marks from Oaktree Capital occasionally puts out a letter to his investors.  Marks, and his fund, are very value oriented.  Here are several notes from his latest letter: Rather than balancing greed against fear, euphoria against depression, and risk … Continue reading

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