No Random Walking!

... and its stock jumped another 10%+ in after hour.

Sigma Design (SIGM) has turned out to be the greatest story that, for almost a year, I've followed but completely missed out! In spite of the gain this year in share price, it still look awfully cheap!

The irony is that I said exactly the same thing three months ago when it reported blow-out quarterly earning and the stock price was at $40. Besides, SIGM is exactly the kind of companies that fit my investment strategy.

In case you don't know what Sigma does, it makes the chip for IPTV and is said to owe 70% of the market! It's also the inventor(?) of the DVD-like file format for storing IPTV contents. 

Link to Sigma Designs 3Q Profit Surges: Financial News - Yahoo! Finance

On a positive note, it looks that my "gamble" with E*trade (ETFC)yesterday will pay off nicely today as it has reached agreement with Citadell which will infuse $2.5 bn into E*Trade and, potentially, save it from bankruptcy. Realizing that anything could happen including the possibility of total collapse in share price, the unique trading pattern nonetheless suggested a money flow model that was too tempting for me to not make a gamble.  

Whether or not I will sell my E*trade shares for a quick profit will depend on what's in that agreement. If this deal means the mortgage business is sold and the possibility of insolvancy is gone, ETFC becomes an attactive long-term play, irregardless of the dilusion and the price Cidadell pays. Past examples? AMR Corp. and Dynegy.

Yesterday may mark the beginning of the much-anticipated Olympic hype, stock-wise.  Ride on it!

... at least that's what this Blog Readability Test says.

I would say the test is darn accurate! 

Since some of the blogs I often read have a rank of "genius reading level", I guess I am a genius! :=)

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It's been obvious to me that Rentech's shares (RTK) have been accumulated during last three months in spite of the gradual decline in share price (see chart below). Today's news may explain this odd phenomenon. According to the news, Sherwood Investments Overseas, which is said to own 4.675 million shares, or 2.86%, of Rentech, has proposed to bid for the company at $2.7 per share and to take it private. Now my concern is: is it possible that it's a scam for the investor to dump his shares?

2:48PM Rentech investor to propose $2.70 per share bid (RTK) 2.18 +0.42 : Sherwood Investments Overseas, a stockholder in Rentech, (RTK), has sent a letter to Rentech President/CEO Hunt Ramsbottom and copied the Board of Directors suggesting a buyout at $2.70 per share. The text of the letter follows: "... While oil prices continue to flirt with their all time highs, Rentech, through its patents, owns the technology to produce ultra clean diesel and aviation fuels... In addition to the fuel technology outlined above, Rentech owns a fertilizer plant in East Dubuque Illinois... In the last 10-Q Rentech reported cash and marketable securities in excess of $63 million and it had no borrowings on its credit line. You have announced that Peabody has a $10 million option to partner with you on some fuel production facilities and the state of Mississippi has granted preliminary approval for the issue of up to $2.75 billion of bonds for your planned plant at Natchez... It appears that Rentech has the benefit of owning tremendous assets at a time when they are critically needed in the United States (and elsewhere). We are concerned that your weak share price may hinder your ability to execute your business plan and suggest that you should consider either taking the company private or spinning off the fertilizer operation. While not wanting to distract management from the important tasks at hand, we would be willing to put together a proposal at $2.70 per share to take the company private."

Link to In Play ® - Yahoo! Finance - The basics of investing.

Petrobras announced Nov. 8 it has found between 5 billion and 8 billion barrels of light oil and gas at the Tupi field, 155 miles offshore southern Brazil in an area it shares with Britain's BG Group and Portugal's Galp Energy. Tupi is the world's biggest oil find since a 12 billion-barrel Kazakh field was discovered in 2000, and the largest ever in deep waters. Perhaps more important, Petrobras believes Tupi may be Brazil's first of several new "elephants," an industry term for outsize fields of more than 1 billion barrels.

... ... the oil lies some 4.5 miles beneath the ocean's surface. To reach it, Petrobras will have to run lines through 7,000 feet of water and then drill up to 17,000 feet through sand, rock, and a massive salt layer. A decade ago, geologists lacked the tools to glimpse beneath these salt layers, which can be more than a mile thick offshore Brazil. Today, with the help of data-crunching supercomputers, 3D imaging of ultradeep subsalt layers is illuminating billions of barrels of new oil. Geologists say the discoveries challenge one of the notions of the peak oil theory, which claims oil companies already have found nearly all of the world's usable oil.

Link to Brazil, the New Oil Superpower

Source: Sohu IT

Link to 2007????????????-??IT

The stock price for E*Trade gets slashed in half after the online brokerage says it can't predict new credit losses and an analyst mentions the possibility of bankruptcy. See the story at BusinessWeek. 

As an E*trade customer, I am really not sure what it really means for me in case the company goes under. Hopefully, the following comment is true.

Your brokerage holdings at E*Trade are completely safe. The stocks you own are YOURS, not Etrade's. Even if the company goes bankrupt you own the stocks in your account and they get transferred to wherever you want. Also the SPIC insures your account up to $500,000 in the case that something happens (e.g. fraud) and you can't get your brokerage holdings. The only people who should worry are people who have over $100,000 in their Etrade BANKING accounts (e.g. savings, checking). The FDIC insurance covers them up to $100,000 and in the worst case scenario if the company does go bankrupt anything over $100,000 in your savings account may not come back to you. However the chances of this happening are very slim. This stock was pushed down by sensational comments from ONE analyst. No other analyst's statements came close to being that bad. This Citi analyst will probably get fired. I've been in this business for over 10 years and have seen people get fired for a lot less.

A funny one on how investment bankers make money from subprime loan packages ...

FXP is the symbol for the UltraShort FTSE/Xinhua China 25. It's the counterpart of FXI, which has returned 600% in the last five years.

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