DTEJD1997

There is absolutely nothing wrong with that by itself. Undergraduate for me was the best time of my life. The PROBLEM is that skool is being SOLD to people now as a way to get ahead in life and being a solid investment. It has to be because it is getting so expensive. Many people are taking on life altering debt in order to do that. That is a problem. Many people are going to skool because they believe it will allow them to enter "middle class". That is a problem. All of these problems are magnified greatly at graduate skool level. Many, many, many people in the USA are going to be living lower class standards of living and will be relegated to poverty because of their educations...

That is a good point! Too much debt is a bad thing, which leads to other bad things resulting in a cascade of problems. Just wait till the attitude of we don't want workers with large amounts of student debt starts spreading...going to have a LOT of disgruntled graduates...

I'm not sure if they will, but they should. Government policy allowed banks to lend absurd amounts to anyone, because borrowers can't default on it. So the banks lent. And schools raised their prices in turn. Allowing more of a free market would have created a totally different landscape than what we have now. Everyone wanting to study 19th century poetry could still do it, just without 150K of debt. The government failed. I might have agreed with you until a few weeks ago... The "youngsters" (very late 20's & early 30's) I work with are almost ALL on IBR (income based repayment) plans for their student loans. They pay between $0 & $200 a month on their loans. This isn't even covering interest payments. Another eye opening thing was that I was playing poker in Greektown Casino with a rough crew of characters. Surprisingly, the subject of student loans came up & started grousing about them. Several players openly laughed at me for paying them back. They said that student loans are "paper" bills. They are ACTIVELY gaming the system, and paying back nothing or nominal amounts. Several people at the table said this! One even had a son at the next table...his son was doing the same thing. Like father, like son! There were six people who had similar stories. One guy was paying his in full. These guys LOUDLY & EXPLICITLY expressed their contempt for their educations and the chances that the government will get paid back. I was shocked at how many people in that group of people had student loans...and their attitudes. I suspect this is fairly common... Thus, the government is going to take a huge bath. You've got a (large?) group of people with open contempt & a large group of people (co-workers) who want to pay back the loans, but simply don't have the capability and likely never will.

Hey all: I've got some beliefs that are the opposite of what most people think. The first is the value of an "education". When I was growing up, it was expected that EVERYONE will get at least a 4 year degree. Most of my friends did indeed get a 4 year degree. Some of them are doing OK, a couple are doing pretty good, and a bunch are struggling. What is even more interesting, is when I went to graduate skool. MOST of the people I graduated with are struggling, YEARS out of skool. The jobs simply weren't there. Most of what jobs WERE there did not pay ANYTHING close to justify the cost & effort required to get them. All but one person who is doing well, had SUBSTANTIAL family wealth & connections and didn't have to borrow anything for skool. The common thread to failure is student debt. Almost everybody who has significant amounts of it is struggling or just blown out. I sometimes work with recent graduates and it is an absolute catastrophe for them. Some of them have $200k in student loan debt... Education is increasingly becoming a very downwardly mobile path for people partaking of it. The government is going to eat the cost on TRILLIONS of student loan debt.

Hey all: Anybody else still looking at gold miners? I've made some money in this space... I'm actually contemplating a new strategy.... I've got some miners that are paying some pretty high dividends! They are also profitable AND are on the brink of producing substantially more gold in the upcoming years. So the strategy is this.... Buy puts on GLD for 2 years. The dividends I receive will more than pay for this, as slightly out of the money puts on GLD for 2 years are trading for a surprisingly low premium. This will protect me from gold going down more than $65 an ounce. So if gold goes down another $200/oz in two years, I'm covered there. If gold stays the same or goes up I'm good. The dividends MORE than pay for the protection for 2 years. Any thoughts?

I have thought briefly about my 2016 goals. I guess I have several.... 1). Have a positive return for the year. 2015 was probably my WORST year of investing ever... 2). Contribute more to this board. 3). Write more articles. Get more on Seeking Alpha and become a member of the "VIC" 4). Re-establish my contacts and become more active with management in positions that I have. I used to ask a lot of questions of management, attend annual meetings & get on conference calls. Need to start doing that again. 5). GET SOME GREAT BARGAINS!n I know they are out there somewhere...

DTEJD: why can't a small investor invest in junk bond funds? A small investor can invest in a lot of different things...junk bonds included. HOWEVER, my brokers have all thrown fits when I tried to buy some in the distant past. Most retail brokers simply don't handle many junk bond trades. The fees (commission & bid/ask)were also disadvantageous unless you were buying something like 10 bonds at a minimum. I guess it also depends on what your definition of small is. When I got started, I was indeed very small, investing something like $1k or so at a time, with maybe $10k total portfolio. Trading bonds with that amount of capital is difficult. As to high yield funds, that is most likely the better way to go unless you've got some lead pipe cinch on an individual bond.

FJM222: I suspect that you are on to something.... HOWEVER, unless you are an expert AND have lots of capital, buying individual junk bonds probably isn't going to work. I would suggest HY funds and perhaps BDC's. BDC's are some very interesting creatures...you can get some incredible income AND a huge discount to NAV. I definitely think the market is mispricing some of them. You've got to pick & choose, as some of them are real turkeys.

hey all: I'm raising cash generally...but am nibbling at some things... I feel that the "ground is shaky" or perhaps it is my footing is shaky? This has been a rough year for me, but I'm initiating some positions. One that I got some shares Friday was BDCO at $4.10/share. I will start a thread on this and share my thoughts.

Hey all: Something I've been thinking about lately is the increase in the cost of education...vs...deflation in wages in many professions. Another "inflationary" aspect of education is the increase in people who hold degrees. All the while, students are taking out larger & larger amounts of debt for an asset that is worth less & less as time goes by...

I can assure you that FIZZ is no fraud...not at all. I live a few miles from one of their large factories. I also see their product EVERYWHERE. I have had many, many, many gallons of their product over the years. My life would also be DRASTICALLY different today if I held onto their stock that I bought in the very early 90's. FIZZ has been one of the very best stocks to own through the years. Look at their splits & dividends. FIZZ is no joke, and they earn incredible returns, and have done this for years.

This doesn't worry me too much. I doubt that was pulled off by Syrian refugees. To me it sounds like an inside job by someone who knew that the alarms were disabled. There are plenty of guns in the US already, a dozen more aren't going to make a difference, and I'd much rather the guns be in the hands of civilians than the government anyway. If you buy guns legally, you have to register with FBI background check. Since you know that FBI knows you have guns, you will be more careful when you use it, and I don't think you can buy M4 assault rifles? If you steal guns, you don't need to go through any checks. That's day and night's difference. Muscleman: Yes, a "civilian" can buy M4 assault rifles....You can also buy them WITHOUT ID or any government check/regulation. You must pass a background check WHEN PURCHASING FROM A FFL DEALER. If you are buying from an individual "second hand", the only check is that they ask you if you are felon/criminal. If you are not, you are good to go...If you are a felon/criminal, the seller can't sell, and you can't buy. Another way to purchase rifles is to buy "partially assembled" "lowers". These are not fully formed guns...but they simply require drilling of a hole to complete them. This is also a very inexpensive way. Please see: http://aresarmor.com/store/Category/hmgar15 An individual can also purchase fully automatic machine guns and silencers. These are "class III" weapons, and are heavily regulated. Both the purchaser & seller have to have a "tax stamp" & other paper work. They are also heavily regulated in their movement...I know people who have done this. It is expensive and heavily regulated. Machine guns will sell for $10k, sometimes even more, depending on the model. Almost no crime is committed with these weapons... If you don't want to pay $10k + and still want an "automatic" rifle...you can simply buy a "bumpfire" kit. These cost about $75 or so. I think they only work with AR-15's & AKs...Very odd item, please see: https://www.youtube.com/watch?v=U7DTjSla-O8 There is NO central FEDERAL registry of who owns what weapons. The background check simply checks to make sure you are eligible to purchase and that you are not buying 30 rifles (at one time) or other unusual activity. These records are also supposedly not held on the federal level for longer than 24 hrs. Depending on where you live (state level), you may be required to register pistols/handguns. Of course, most enlightened states don't do this. On a different note, I am concerned on MANY different levels about immigration...but that is a different response...

Hey all: The worst hand in poker is the hand that you lose a lot of money with! As to 2-7, 8-3, J-4 and so on...I am not playing these unless I am in an un-raised big blind. Unless you hit it almost perfectly, I am certainly ditching these post flop. Some of the very biggest mistakes I've made in BOTH poker and investing is that I was TOO focused on my hand OR the company. In poker for example, some of my biggest mistakes/losses have been when I was too focused on my hand and that took away from my analysis of what was on the board AND WHAT OTHER PLAYERS MIGHT HAVE. For example, flopping trips and then being vulnerable to a straight/flush. With investing, I've made HUGE mistakes and HUGE losses with companies that were well run, well capitalized, well managed, etc BUT WERE FACING poor industry trends. My mistake was in being too focused on the company/management and NOT ON THEIR threats/industry. For example, I own several well run oil service companies. Excellent companies! Very neat, very compelling investments! HOWEVER, the mistake I made was in thinking that their management/position would be able to offset a decline in oil prices. That thinking is absolutely correct, up to a point. With oil down over 1/2 from it's peaks, it just doesn't matter how well run they are...they are going to hit. Sort of like flopping trip aces with 3 suited cards...then on the turn it is 4 suited cards! I've got trip ACES! a great hand! but it is terribly vulnerable in this circumstance.... Very interesting how poker & investing share so many things.

Hey all: Mr. Trump is EXTREMELY competent compared to some of the candidates running for higher office. I bet he would have a secure server! I would also wager he knows that you don't wipe one down with a cloth... I find Mrs. Clinton attitude extremely arrogant. Maybe she is absolutely right though...laws apply to us plebes not somebody like her. That is certainly what it looks like.

I would add two names to this.... Nam Tai properties is a potential multibagger. Their balance sheet is like Ft. Knox. Ticker is NTP Another is Emperor Entertainment. They are casino operator in Macau. HK ticker is 0296, US OTC is EPETF. They have an excellent balance sheet, pay a healthy dividend, have hidden assets, AND have a 3.8 P/E. I am sure others can easily add to this...

Hey all: I work as an attorney in an affluent suburb of Detroit... I am AMAZED at the number of satellite campuses for schools. I am also amazed at the billboards & radio ads for schools, especially MBA programs. I also have to question how many of these are really needed. It seems that every 10th person is going for a GRADUATE degree in this area. It is literally a gold rush for the schools. They are opening branches everywhere and taking any student who can sign the paperwork for the student loans. University of Michigan MBA? OK, sounds good. Lady of the Lakes night & weekend MBA? Whut, whut? Eastern Michigan at Schoolcraft college executive MBA on weekends? Wayne State in Oakland county? Who has heard of these schools? Are these diplomas even worth the paper they are written on? Maybe...maybe not. One thing is clear. The value of credentialed education is being tremendously debased. The market is flooded. The very top tier schools are probably worth it. Every other skewl? almost assuredly not.

Hey all: Bought a full position in PNNT at $6.76/share. market is acting silly again.

Hey all: As a child I collected coins...Nothing serious of course, but I've always enjoyed them. When I had some success in life & business I started seriously buying silver coins. A few years later, the price of silver & gold went up & I fell upon hard times. I started liquidating my collection. At first I was dismayed by the prices offered by buyers. I quickly learned how to sell & market my collection. As I neared the end of my collection I came to the realization that I could actually make money buying & selling. Fast forward a few years and now I have a thriving side business. I am hoping to expand it significantly in the near future. I have cultivated good relations with several suppliers. Perhaps even more importantly, I now have a book of happy, repeat customers. I have several now who buy from me on a periodic basis (usually monthly). Margins are thin, and you have to know EXACTLY what you are doing...but you can easily do several thousands of $ in sales in one day. You also only need a few things: A). computer B). Camera C). Printer D). Shipping supplies E). Desk & cabinet F). safe deposit box & home safe G). high speed internet connection H). local post office This is also a business that has tremendous scale. I have no doubt that a good, organized, motivated individual could do $1MM+ in sales yearly. Another business that shares many of the same characteristics is selling of used, high end watches (Rolexes).

Hey all: I bought some PNNT. I am only starting to research it. I pulled the trigger a little early as markets were moving so fast today... I really don't like BDC's, but this one appears to be one of the higher quality ones. Selling at a big discount, nice dividend, good track record. Looks promising.

So what are the numbers on this? Cash flow, mkt cap, debt level etc. Valuation? Replacement cost? Any hidden assets? Wow: How could I have forgot this? Working too many hours I suppose.... The numbers are the prime thing that makes this attractive: Trailing P/E is 3.67 P/B is 1.3 Market cap is $44 million EBITDA is 10.04 million P/S is .15 EV/EBIDTA is about 7 Another interesting thing is that they've got physical plant and equipment that they got out of mothballs for literally pennies on the dollar. They also kind of operate in a protected niche...they get oil at a discount as they save on transportation costs and use different feedstock than the gulf refiners. They have borrowed a lot of money compared to their market cap to buy more physical plant and expand their operations. They also refinanced some existing debt. Thus they have had a LOT of capital expenditures. They also had 4 more days of downtime compared to a year ago period. This certainly impacted operations to some degree. So here is how I can see things working out: A). Management expands their plant, allowing them to increase diesel output, and other higher value products. They also improve capacity & reliability somewhat. B). They get a year or so of decent to "good" operations. Use that cash flow to expand & improve operations. They also use a chunk of that to pay down debt & solidify the balance sheet. C). After a couple of decent years, they could either sell to a larger player OR maybe start paying a dividend. If the stock has solidified the balance sheet, improved operations and is earning $2/share, the stock is certainly NOT going to trade for $4. THUS THIS IS A POSSIBLE MULTI-BAGGER POSSIBILITY

my goodness! The market is starting to get interesting... I'll throw out a speculative name (BDCO) Blue Dolphin Energy. Pluses: Good location Off the radar Could be "silly" cheap Assets selling for WAY less than replacement cost Negatives: Potentially bad "marketing" relationships Just released bad earnings A microcap in an industry dominated by "big" players Might have to invest a LOT more in physical plant BDCO owns a very small refinery in TX. It is in the Eagle Ford shale area and gets a good deal on oil as it does not have to be transported. The refinery was built in late 70's? and was mothballed for 30 years. They have been operating for a while and have MOST of the kinks worked out. Have been making a LOT of money relative to share price. Any thoughts on this one?

We need somebody like Trump in the political process. People are fed up with milqetoast, groomed politicians. Look at Hillary! She wasn't taking any questions from reporters for a couple of months! Why should she? She is almost certainly going to get the Democrat nomination....so why risk it? She is playing "not to lose". People are fed up with it. Most of the republicans are just standard politicians. They won't say anything to alienate any potential voter. The end result is that they are just talking but not saying anything. Trump will at least shake things up. Lots of people may not agree with what he says, but they respect/admire him for saying it. There is a HUGE problem with illegal immigration in this country. Most politicians don't want to do anything about it because they don't want to alienate any potential voter block...so the problem goes on. Another problem with American politics is money. Strangely, Trump is less susceptible to this problem than Hillary. Look at the amount of foreign money she has been getting. Look at the scandals/disgraces at her & Bill's charity. All the people who donated money to her are going to want a payback. If Trump is willing to largely self fund his campaign, he won't be tied down to donors... As many problems as Trump has, Hillary might have even more...

Hey all: I forgot to mention that the amount being spent on the search for radio contact is about the amount being spent on ONE new generation fighter plane. Additionally, construction of the world's largest radio telescope is well under way in China. Kind of makes one think.

Hey all: It could be that most advanced civilizations are NOT transmitting via radio waves. Think about our society over the last 80 years. At first almost everything was broadcast via radio (shortwave, AM), As time progresses we went to cable, direct satellite, and of course the internet. I imagine that in 20 years, most communication will be through the internet and will have very little leakage that could be picked up. A society 500+ years more advanced than we are might have virtually no radio waves or EM leakage. It could also be that we've listened to well less than 1% of the available spectrum. With the new initiative by Yuri Milner, we might know a lot more in a few years. It certainly will be exciting...

Hmmm: This is a great idea! I am not aware of any site that puts this together... Perhaps this might be a business opportunity for someone?