IanBezek
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Posts posted by IanBezek
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I thought this was a compelling argument that UNP is overearning perhaps due to underinvesting in their business at least according to the outgoing BNSF executive chairman and ex-CEO. I just sold my UNP stock (acquired in 2016) and will wait to pick it up much cheaper again if the economic cycle turns down soon.
https://www.railwayage.com/freight/class-i/matt-rose-less-is-not-better/
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Migrants typically pay 10%+ of their weekly remittances in fees,
simply for a Wells Fargo to take their cash and wire the proceeds to their home country. Yet we can routinely do the same thing by any one of a number of smartphone apps at a fraction of the cost; we just need an account to deposit the cash into. But according to Wall Street, that isn't a threat; and we continue to systematically over-value Wells Fargo, and under-value the smart app competitors.
Is this is a major source of revenues for Wells and other banks? I was under the impression that most migrants used something like Western Union or Moneygram. I will note, due to weird circumstances, I've been having to send myself money - I'm currently in South America and can't mail myself a new debit card yet - and I can send myself cash through a service like Worldremit for ~1% of my remittance (including both fee and FX charge) and pick up directly at a local bank five minutes later. That is going to put a lot of people out of business over time.
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A bunch of regional banks in a basket.
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For October near the money, say 230/240, it costs about $8 to make $2 if you get a fill at the midpoint. Not much reward.
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Shorting these sorts of manias is one of the fastest ways to blow up an account. If you do want to short calls, please use spreads, otherwise this sort of move can lead to ruin.
Sound advice here! Ian I remember you from several years ago when you authored an article on Yongye International - I think you were pretty young at the time. I had investigated that company, including on the ground in China. It was shady. Went private at $7.10.
I think they bought a zero, but we'll probably never know. As for my age, I'm 29 now, so I was quite young back in 2011.
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Shorting these sorts of manias is one of the fastest ways to blow up an account. If you do want to short calls, please use spreads, otherwise this sort of move can lead to ruin.
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My recents adds were BLX, CUERVO.MX, TI A and FB.
I own all four of these... do we know each other? ;) BLX in particular very interesting here.
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"Zero percent of our current assets are in the US. Which has never happened in the 19 years of running the fund. We always had a very large portion of assets in the US. I would have never guessed that we would get to the point where we would be at zero - but here I am. "
Pretty amazing.
Good Industries That Are Misunderstood By Wall Street Analysts
in General Discussion
Posted
Thanks Spekulatius. My understanding is that Zelle requires the receiver of the remittance to have a debit or credit card, which makes it useless for many people in emerging markets. Banking penetration outside of the upper class remains shockingly low in Latin America where I live, though perhaps it is a little higher for Asia.