Steindel gets the axe

From NJBIZ:

Report: Amid overly optimistic revenue projections, Christie’s chief economist resigns

Charles Steindel, chief economist of the New Jersey Department of Treasury, has resigned from his post to pursue a college teaching position, according to a report this morning from Bloomberg News.

Bloomberg reports that Steindel, who joined the Treasury in 2010, informed Gov. Chris Christie’s administration months ago that he would be resigning at the end of August to accept a position as a resident scholar at Ramapo College in Mahwah.

The department has subsequently put out a job posting for Steindel’s position, which existed under a different title in prior administrations. The state is seeking applicants by a July 30 deadline, the report said.

According to Bloomberg, Steindel’s overly optimistic revenue projections in four out of the last five years have been off target by a total of $3.5 billion.

New Jersey faces a projected budget revenue shortfall of $1.7 billion in the current fiscal year alone.

The forecasts have been often cited in downgrades to the state’s debt by Wall Street credit rating agencies over the years.

Prior to his work in Trenton, Steindel served as a senior vice president at the Federal Reserve Bank of New York.

This entry was posted in Economics, New Jersey Real Estate, Politics. Bookmark the permalink.

64 Responses to Steindel gets the axe

  1. Mike says:

    Good Morning New Jersey

  2. Comrade Nom Deplume, a.k.a. Captain Justice says:

    JJ: looking forward to hearing about you subbing for a batting tee at Citi Field

    https://www.facebook.com/topic/Tyler-Seguin/105518009480605?source=whfrt&position=3&trqid=6037755919725242402

  3. grim says:

    Guess I was wrong…

    grim says:
    July 16, 2014 at 7:54 am
    If I estimated in my budget a revenue number of $200 million, and only realized $63 million, I’d be fired. What happens in the public sector? You get a pension! The amount of revenue that should have been budgeted is $0, because that is where it’ll be in a year. Oh, at one point Christie and the Treasury Clowns estimated a billion dollars. We should have legalized pot instead.

  4. Fast Eddie says:

    …accept a position as a resident scholar at Ramapo College in Mahwah.

    Resident scholar?

  5. Sima says:

    I betcha pot gets legalized in NJ . Think of all the tax revenues….

  6. Fast Eddie says:

    What a f.ucked up house. I can “smell” the myriad of problems with this place. $660,000 and just under $16,000 in taxes for this hole. What a mess. I so wish we could do a field trip to these places just to unleash some buyer terr0rism.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1424934&dayssince=&countysearch=false

  7. Fast Eddie says:

    1.25 mil, 25 grand in taxes and no yard. That’s the least of the problems. And why is it empty? They moved to a bigger place (sarcasm intended)? A cavernous mess.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1425052&dayssince=&countysearch=false

  8. Juggalo4eva says:

    “resident scholar at Ramapo College in Mahwah…”

    …in the Department of Bong Loading Studies…

  9. Fast Eddie says:

    Almost 600K but don’t open the backdoor or you’ll get hit by a car:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1422105&dayssince=&countysearch=false

  10. Juggalo4eva says:

    gary (7)-

    The exterior looks like EIFS to me. Nothing more exciting than watching your house rot from the inside out.

  11. Juggalo4eva says:

    Any questions?

    “According to Bloomberg, Steindel’s overly optimistic revenue projections in four out of the last five years have been off target by a total of $3.5 billion.

    New Jersey faces a projected budget revenue shortfall of $1.7 billion in the current fiscal year alone.

    The forecasts have been often cited in downgrades to the state’s debt by Wall Street credit rating agencies over the years.

    Prior to his work in Trenton, Steindel served as a senior vice president at the Federal Reserve Bank of New York.”

  12. Fast Eddie says:

    I betcha pot gets legalized in NJ . Think of all the tax revenues….

    Why stop there? Throw in prost1tution and we pretty much have Rome, circa 38 AD.

  13. Fast Eddie says:

    Meat Cadaver [10],

    When I see that type of exterior, I immediately pass. I wanna meet the folks who sign the papers on that hole.

  14. 30 year realtor says:

    #9 – Sold one of the neighboring houses as an REO about 20 years ago. Crappy 1970’s bilevels with the Parkway screaming in the background. That price is just a tad ambitious.

  15. Fast Eddie says:

    Let’s be honest; for a lot of us, the next move is out of this state. What a f.ucking dump Jersey is bec0ming. I’ve never seen so many out-of-state plates, people driving like man1acs, sh1t all over, hearing languages I never knew existed and the book of etiquette nowhere to be found.

  16. Fast Eddie says:

    30 year,

    That one will sit for a while. How can you deal with the Parkway 24/7? By the way, emailed grim for your email but haven’t heard anything yet.

  17. Juggalo4eva says:

    My youngest is two years away from kolledge. The minute he graduates HS, we’re as far away from this festering state as we can get.

  18. grim says:

    Olde English Court? What the hell were they thinking.

  19. Phoenix says:

    Eddie, Did you ever go see 10 Princeton in Woodcliff Lake?

  20. Joyce would like this says:

    Joyce:

    As you probably know some loser shot and killed a Jersey City cop. The guy got shot. If JCPD had followed protocol, had followed what “professional” agencies including the FBI do, which is perpetrator is shot, called paramedics and remove to hospital. It would have been no problem. But they played “judge, jury, executioner” by leaving the guy on the scene for 5 hours. These of course left a bad taste in a city that has some underlying racial issues going back decades.

    In the past Los Angeles, Chicago, and Miami had this experience. Miami learned after a few riots to move the body to the hospital ASAP. Miami Beach PD had a crackhead cop that killed 2 people ( 1 likely innocent 1 car jack) in a 3 month period. A few month later his farm was raided from growing weed. With the innocent shooting Fire Rescue paramedics were there right away, and clearly seen in the video.

    Sometimes all is needed is a little discretion and good judgement. But Zimbardo’s jail guard experiment and Milgram’s deferrence to authority showed is hard.

    So now you got this, and is building tempo:

    http://www.nj.com/jjournal-news/index.ssf/2014/07/jersey_city_man_tried_to_cross.html

    http://www.nj.com/jjournal-news/index.ssf/2014/07/killings_intensify_discord_bet.html

  21. anon (the good one) says:

    @pourmecoffee: On this day in 2005 George W. Bush announced his choice of John Roberts for SCOTUS, yada yada yada, corporations are now people, my friend.

  22. joyce says:

    And obamacare is constitutional… retard

  23. Libturd at home says:

    Where’s the passion fruit?

  24. Juggalo4eva says:

    This JC cop killer and his crew make Bebo look like a statesman.

  25. Michael says:

    This guy gets it. Income growth is coming. You might not realize it, but right now it’s pretty hard to miss on real estate if you hold the property for at least 10 years. 2020’s will be the next rise the real estate market cycle.

    “But in terms of the growth outlook, the news is good. Goldman Sachs and many private-sector forecasters project a 3.3% growth rate for the remainder of 2014. The first half of 2014 saw the best job-creation rate in 15 years. Total household wealth and private employment surpassed 2008 levels last year. Bank loans to businesses exceeded previous highs this year. And income growth will soon improve too. America is finally returning to where it was seven years ago.”

    http://time.com/3000991/surprise-the-economy-isnt-as-bad-as-you-think/

  26. Ragnar says:

    EIFS is nothing that $150,000 can’t fix.

  27. Michael says:

    Exactly why I knew all the people shorting the stocks the past year or two were idiots. They claimed a 5 year run is taboo. It has to come to an bed because history said so. Keep on missing the big picture. When the economy is bad, is when the best investments are made. Keep on waiting for the economy to get better to buy that real estate or stock. I’ll be selling you mine that was purchased during the bad times at quite a nice profit.

    “As halting as the U.S. recovery has been, the economy is now leaner and more capable of healthy, sustained growth through 2016 and beyond. Our outlook shines compared with that of the rest of the industrialized world, as Europe and Japan are stagnant. The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy–not unlike a company gritting its teeth through a lifesaving bankruptcy. Manufacturing costs are down. The banking system has been recapitalized. The excess and abuse that defined the housing market are gone. And it’s all being turbocharged by an energy boom nobody saw coming.”

    http://time.com/3000991/surprise-the-economy-isnt-as-bad-as-you-think/

  28. Michael says:

    Anyone invest in plug? Stock is highly volatile but could be on the verge of some extreme growth in the coming years. Made some good money on this playing the highs and lows, but I actually believe in it long term.

  29. Michael says:

    Yes sir!!

    “It’s not just economic trends that are looking up: crime rates, teen pregnancy and carbon emissions are down; public-education outcomes are improving dramatically; inflation in health care costs is at a half-century low. That points to something I did not foresee last year: that the social health of America seems to be mending. Americans may still feel discontented, but winter is finally over.”

    http://time.com/3000991/surprise-the-economy-isnt-as-bad-as-you-think/

  30. joyce says:

    Passion Fruit,
    Maybe read the whole article before posting next time.

  31. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [21] not Joyce

    The fact that the ACLU has weighed in tells you everything you need to know about it. While it once had a laudable goal, it has become an advocacy organization for new Democratic party constituencies, and not just about protecting their rights but expanding them.

    This I know firsthand. I have had a run-in with the ACLU on behalf of a client. The ACLU admitted that the law wasn’t on their side (e.g., their client had no rights violated and wasn’t really “entitled” to what they were asking for) but threatened to “name and shame” my client if they did not revise its policy to favor a class that the ACLU wanted to protect.

    In this case, it wasn’t about protecting their client’s rights since they admitted no rights were violated. It wasn’t even an attempt to expand rights for this class since there was no broader group to be served. It was merely an effort to expand the privileges for their client and advance their agenda one adversary at a time.

    At that moment, and many others to be sure, ACLU crossed over from being a protector of civil rights to a political advocacy group trying to impose its vision of how American society should function.

  32. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [30] michael

    Altman isn’t reading the same data that many other pundits are reading. In fact, there are rumblings that the consumer is weak, housing is back to a degree but threatens to falter, and the lowest rungs are just as bad off as before. Further, some of the “progress” he cites has little to do with the economy and is explained by trends that have been decades in the making. For example, car thefts have been declining for many years now because cars have simply become harder to steal. This is a technological innovation. Improvements in the environment have been occurring steadily for a long time as well, attributable in no small measure to the near eradication of our “smokestack” industries, and diminished fuel consumption caused in part by an increase in its price. I don’t know if those are effects anyone is willing to take credit for. And the fact that the cost differential for Made in America has diminished is potentially fleeting as it was possible only because the rest of the world got more expensive but we didn’t. Again, want to take credit for that? I don’t.

    It’s a good thing he didn’t get overtly political because to suggest that these improvements (and there are some) can be attributed to the current administration would be laughable.

  33. Michael says:

    Good points. Makes sense.

    It’s nice to hear some good news. The majority of people def have a negative outlook on the economy right now, hard to find positive news these days.

    Comrade Nom Deplume, a.k.a. Captain Justice says:
    July 19, 2014 at 3:16 pm
    [30] michael

    Altman isn’t reading the same data that many other pundits are reading. In fact, there are rumblings that the consumer is weak, housing is back to a degree but threatens to falter, and the lowest rungs are just as bad off as before. Further, some of the “progress” he cites has little to do with the economy and is explained by trends that have been decades in the making. For example, car thefts have been declining for many years now because cars have simply become harder to steal. This is a technological innovation. Improvements in the environment have been occurring steadily for a long time as well, attributable in no small measure to the near eradication of our “smokestack” industries, and diminished fuel consumption caused in part by an increase in its price. I don’t know if those are effects anyone is willing to take credit for. And the fact that the cost differential for Made in America has diminished is potentially fleeting as it was possible only because the rest of the world got more expensive but we didn’t. Again, want to take credit for that? I don’t.

    It’s a good thing he didn’t get overtly political because to suggest that these improvements (and there are some) can be attributed to the current administration would be laughable.

  34. Juggalo4eva says:

    I’ve been around this board long enough to know that when our previous versions of Passion Fruit began the inane cheerleading, it’s a sure tell that everything’s about to turn to shit.

  35. NJGator says:

    Vigoda > James Garner

  36. Michael says:

    Call me a cheerleader, but things are getting better. This article shows what I have been saying, wage inflation is coming. It’s hitting the low wage areas first (meaning the bottom of the wage scale) and it will, by the end of the decade, hit all wages. I’ve said before that the minimum wage debate is the obvious clue that we are at the beginning of a wage inflation cycle. The problem I see accompanying this wage growth will be higher than normal inflation and the creation of some massive bubbles.

    You have to remember that humans carry a herd mentality. Right now, not many millenials are buying real estate, but when they do, they will come in droves to setup big price increases and eventually create the next bubble in the housing market.

    Btw, this article even points what bystander and fast Eddie have been saying about the financial industry.

    “However, not all sectors had positive wage growth over this period. Most notably, wages in the financial services sector shrank by 2.6%, largely due to a contraction in the securities industry. Most of the national decline in financial sector wages can be explained by firms reshuffling bonuses such that large bonuses showed up at the end of 2012 and, by contrast, were relatively modest in 2013, according to Kohli. In most of the metro areas where wages are declining, however, financial services make up a large part of the economy, perhaps bringing down wages. Metro areas with rising wages, on the other hand, did not have large financial sectors.”

    http://www.usatoday.com/story/money/personalfinance/2014/07/20/cities-where-wages-soaring/12690849/

  37. Juggalo4eva says:

    USA Today, obviously a top-notch source…

  38. Juggalo4eva says:

    Passion Fruit want a biscuit?

  39. Michael says:

    Trying to post a good article on AC, but this filter blows!!!

  40. Libturd at Firestone says:

    PF…I owned Plug Power in 2002 around 10. I see it’s at 5 and still losing money over a decade later. Day trading is for people who like paying commissions.

  41. Michael says:

    They might have finally turned the corner. They have been picking up a lot of new contracts from big boys like Walmart. Now might be the time to jump back in. Read their hyrdogen fuel cells can recharge in 2 min now. Let me see if I can find what I read.

    Libturd at Firestone says:
    July 20, 2014 at 8:45 am
    PF…I owned Plug Power in 2002 around 10. I see it’s at 5 and still losing money over a decade later. Day trading is for people who like paying commissions.

  42. Libturd at Firestone says:

    What is their collective debt?

  43. Michael says:

    “Inescapable fate
    Raising capital through equity is an inescapable fate for Plug Power. Despite Plug Power going public fifteen years ago and fuel cell technology being around for a while, commercialization of the technology is still in its infancy stage. This means that the market is not sufficiently big to bring in revenues that can support the kind of growth and scale that Plug Power is targeting. This further implies that the only meaningful sources of capital right now that can support Plug Power’s appetite for expansion are external sources, which are debt and equity.

    The discussion therefore shouldn’t exclusively focus on Plug Power issuing more shares to finance its expansion drive, as put forth by the majority of the dilution bears, but rather what Plug Power will do with the money. The dilution bears are essentially missing the forest for the trees here.”

    http://www.fool.com/investing/general/2014/07/15/plug-power-dilution-bears-missing-the-point.aspx

  44. Michael says:

    Plug PLUG +9.83% is in its early stages of growth but catalysts include new orders in the U.S., a potential expansion in Europe, and the rollout of hydrogen deliveries, the analysts said.

    PLUG 5.03, +0.45, +9.83%

    151050
    ASON14FMAMJJ
    “We also view the risk/reward profile as attractive at current levels, and our blue sky scenario could result in meaningful upside,” they added. They have an $8 price target on the stock.

    As shares were trading at $4.64 mid-morning, that forecasts a gain of more than 70%. The company has successfully transitioned from the early introduction of fuel-cell power packs for forklifts and other warehouse equipment to offering a wide range of products and applications, the analysts said.

    Shares of Plug have gained 1,154% in the past 12 months, and 201% so far this year. Shares are up 22% in the past three months.

    This breakneck pace of gains started in late 2013 on the heels of high-profile deals with FedEx Corp. FDX +0.64% and Wal-Mart Stores Inc. WMT +0.63% distribution centers. Earlier this month, it announced deals with Ace Hardware warehouses.

    Plug Power’s rally has boosted shares of other fuel-cell companies. FuelCell Energy Inc. FCEL +3.41% rose 3.3%, and Ballard Power Systems CA:BLD +5.25% added 8.6%.

    Meanwhile, shares of most solar-power companies were mixed, with installer SolarCity Corp. SCTY +4.19% down 2.6%. First Solar Inc. shares declined 0.7%, while U.S.-listed shares of Trina Solar Ltd. TSL +2.62% advanced 0.6% and U.S.-listed shares of Yingli Green Energy Holding YGE +1.56% rose 1.7%.

  45. Michael says:

    July 18, 2014
    10:15 EDT PLUG, FCEL, BLDP Plug Power advances after analyst says outlook has improved
    Shares of fuel cell systems developer Plug Power (PLUG) are climbing after research firm Roth Capital said it was more confident that the company could meet its revenue guidance. WHAT’S NEW: After meeting with Plug Power’s CEO, Roth Capital analyst Matt Koranda wrote that he is more confident that the company can meet its 2014 revenue guidance. Koranda is also more confident that the company can meet its 2014 bookings target. Plug Power appears to be looking to deploy its products at four locations during the current quarter, leaving it well-positioned to ship more units than expected, the analyst explained. An increase in the company’s shipments will also raise its product gross margins, added Koranda. Moreover, Plug Power appears to be reaching a positive turning point with its large customers, the analyst believes. However, Koranda is still concerned about the stock’s valuation and kept a Neutral rating on the shares. WHAT’S NOTABLE: On July 15, research firm FBR Capital initiated coverage of Plug Power with an Outperform rating. Plug Power’s recent contracts with large companies are likely to enable it to land more such transactions, FBR Capital analyst Aditya Satghare indicated. Additionally, its current customers are likely to adopt more hydrogen powered forklifts, the analyst predicted. PRICE ACTION: In early trading, Plug Power rose 17c, or 3.6%, to $4.75. Other fuel cell companies also advanced, with FuelCell Energy (FCEL) rising 1.5% to $2.10 and Ballard Power (BLDP) climbing 2.5% to $3.80.

  46. Michael says:

    On Jul 15, 2014, the share price of Plug Power Inc. (PLUG) closed at $4.85, reflecting a jump of 16.03% from the previous day’s closing. The publication of an initiation report on Plug Power with Outperform rating by Arlington, VA-based firm FBR & Co. (FBRC), previously known as FBR Capital Markets Corporation, boosted its share price. FBR & Co. projected a 12-month price target of $8 per share.

    Factors for Outperformance Rating

    FBR & Co. has pointed out several growth indicators including transformation of business model, diversified customer base, winning of new orders in the U.S., expansion plan in the European market and the roll-out of a hydrogen delivery solution, which could act as catalysts for Plug Power’s future growth.

    FBR & Co. believes that Plug Power has successfully transformed its operations from the introduction of fuel cell power packs in material handling systems to offering hydrogen-based solutions for a broad array of material handling applications.

    Plug Power has showcased its comprehensive GenKey hydrogen fuel cell solution during the MODEX 2014 tradeshow in Atlanta and the 2014 Warehousing Education and Research Council tradeshow and conference in Chicago.

    GenKey solution consists of three separate elements: GenDrive fuel cell units, GenFuel hydrogen fuel and infrastructure, and GenCare maintenance service. Plug Power offers full integration and utilization of the whole GenKey package for customers to ensure flawless conversion to hydrogen fuel cell-based power for their material handling functions. Introduction of GenKey solution makes the material handling process easier.

    For the Genkey solution, Plug Power has already received order from Wal-Mart Stores Inc. (WMT). Another retail firm, The Kroger Co. (KR), will also deploy the GenKey solutions at its two sites.

    In Mar 2014, Plug Power received a multi-site GenKey purchase contract from Wal-Mart Stores. Per the agreement, Plug Power will supply 1,738 GenDrive fuel cell units, which will be deployed at Wal-Mart’s six North America distribution centers over the next two years. Plug Power will provide service to these units for six years.

    Introduction of the new solution and strong existing product line are expected to help Plug Power win more contracts from the existing customers or add new ones. The company’s customers range from food distribution companies to industrial manufacturing firms.

    It is evident from past records that Plug Power often receives orders from domestic and foreign customers. In May 2014, Plug Power obtained an order from Central Grocers to provide 182 next-generation GenDrive fuel cell units to operate its electric lift truck fleet in Joliet, IL. In addition, Plug Power entered into a 5-year GenCare service agreement with Central Grocers for the latter’s GenDrive fleet.

    In addition to solidifying presence in the U.S., Plug Power is also expanding its European operations as the European market is roughly 100% larger than the U.S. market. Plug Power has taken several initiatives, including joint venture with Air Liquide, to tap the prospective European market and meet higher demand for the electric forklifts.

    Zacks Findings

    We have identified few positives, including an increase in sales force and reduction in operating costs through acquisition of ReliOn Inc., which can act as growth drivers for Plug Power.

    Plug Power’s strategic initiative includes deployment of higher number of sales force to deal with the increasing demand for products and services. This initiative will enable the company to frequently attend customers and respond quickly to their requirements. Steady follow up and meeting with clients will help Plug Power to renew the existing contracts and win new ones.

    On the other side, Plug Power is currently following inorganic route to expand its operations. On Apr 2, 2014, Plug Power has acquired the assets of ReliOn Inc. Spokane, WA-ReliOn Inc., a developer of hydrogen fuel cell stack technology and fuel cell systems.

    In addition, the company partnered with French company Axane, S.A. under the name HyPulsion, S.A.S., to develop and sell hydrogen fuel cell systems for the European market. In Apr 2014, the company has signed a memorandum of understanding with South Korean company Hyundai Hysco to form a joint venture to manufacture and sell hydrogen fuel cells in Asia. These initiatives will enable Plug Power to manufacture products at a lower price and reduce dependence on third party suppliers.

    In a Nutshell

    We expect Plug Power’s successful transformation of business model, a strong order book from U.S. clients, growth in sale force counts, increasing focus on the European operations and disciplined investment in inorganic growth strategies to boost its future performance.

    Zacks Rank

    Plug Power currently has a Zacks Rank #3 (Hold).

    Read the Full Research Report on PLUG
    Read the Full Research Report on FBRC
    Read the Full Research Report on WMT
    Read the Full Research Report on KR

    Zacks Investment Research

  47. Juggalo4eva says:

    Great. Now Passion Fruit is a stock tout.

  48. chicagofinance says:

    Hopefully he’ll lever up his real estate, buy that crap on margin and blow himself out…..then he won’t have money to pay for an internet connection and we are golden….

    Juggalo4eva says:
    July 20, 2014 at 10:52 am
    Great. Now Passion Fruit is a stock tout.

  49. Michael says:

    I don’t invest in only real estate. I’ll still take a good income property any day over stocks. I was sharing information on a stock that has made me a lot of money. I’m pretty sure it’s going to make people money in the next year or two. It’s highly volatile, which means people are day trading it aka constantly cashing in on their profits. You think it’s a crap stock then short it. Either way, there is money to made on this stock. I’m on the optimist side with this stock. If you think I’m an idiot, then short it. Guaranteed to make money if you truly believe I’m an idiot. My last buy-in was for 4.83 on Friday. I’m not a day trader, but on this stock I have treated it as a buy and sell because of the insane volatility. I think it goes up this week based on good news out of the conference. But like I said, if you truly think I’m an idiot, here is your chance to put your money where your mouth is and have the balls to short it.

    Juggalo4eva says:
    July 20, 2014 at 10:52 am
    Great. Now Passion Fruit is a stock tout.

  50. clotluva says:

    hydrogen infrastructure is expensive to develop and maintain (because the atoms are so tiny) and in the end, hydrogen power isn’t really “clean energy”, since hydrogen is not a naturally occurring fuel source (ergo, it is inefficient to create). so in terms of net benefit, it is similar to electric cars that are charged with electricity generated from burning coal.

    had a friend that worked for plug power 10 years ago or so…not much has changed with their technology…they will only go as far as the PR hungry companies (and zealous speculators) will be able to subsidize them.

    and hydrogen is way down on the DOE’s list of areas in which it wants to invest, so outlook for sustained federal subsidies/R&D is weak.

    enjoy the ride. but IMO, a better long term play would be to invest in CNG/LNG infrastructure.

  51. Ragnar says:

    Libturd cannot disagree with one forward/simultaneous economic indicator: rail volumes are performing pretty well. Some of this thanks to new energy production.

  52. chicagofinance says:

    You “idiot”….do you have any idea what the borrow is on that stock….the cost of carry would murder you even you were correct…..the short would have to instantaneously work to dramatic effect…..but why would you know anything about cost of carry….all you have ever done is collect a rent roll with a subsidized expense profile……

    Michael says:
    July 20, 2014 at 12:01 pm
    I don’t invest in only real estate. I’ll still take a good income property any day over stocks. I was sharing information on a stock that has made me a lot of money. I’m pretty sure it’s going to make people money in the next year or two. It’s highly volatile, which means people are day trading it aka constantly cashing in on their profits. You think it’s a crap stock then short it. Either way, there is money to made on this stock. I’m on the optimist side with this stock. If you think I’m an idiot, then short it. Guaranteed to make money if you truly believe I’m an idiot. My last buy-in was for 4.83 on Friday. I’m not a day trader, but on this stock I have treated it as a buy and sell because of the insane volatility. I think it goes up this week based on good news out of the conference. But like I said, if you truly think I’m an idiot, here is your chance to put your money where your mouth is and have the balls to short it.

  53. chicagofinance says:

    Also “idiot”….everyone is a stock expert trading mo-mo crap in a spec market with hyper-liquidity……if anything, your tout probably is prima facie evidence that we are due for the oft-mentioned dramatic market correction……

  54. Michael says:

    I understand that you know a lot more about the stock market than I do, and I respect that. All I’m saying is that if I’m an idiot, you most likely will win if you short the stock. I don’t short stocks, so I have no idea what the cost to borrow is on the stock. I understand the generalized “shorting” process, but don’t know the details.

    chicagofinance says:
    July 20, 2014 at 2:13 pm
    You “idiot”….do you have any idea what the borrow is on that stock….the cost of carry would murder you even you were correct…..the short would have to instantaneously work to dramatic effect…..but why would you know anything about cost of carry….all you have ever done is collect a rent roll with a subsidized expense profile……

    Michael says:
    July 20, 2014 at 12:01 pm
    I don’t invest in only real estate. I’ll still take a good income property any day over stocks. I was sharing information on a stock that has made me a lot of money. I’m pretty sure it’s going to make people money in the next year or two. It’s highly volatile, which means people are day trading it aka constantly cashing in on their profits. You think it’s a crap stock then short it. Either way, there is money to made on this stock. I’m on the optimist side with this stock. If you think I’m an idiot, then short it. Guaranteed to make money if you truly believe I’m an idiot. My last buy-in was for 4.83 on Friday. I’m not a day trader, but on this stock I have treated it as a buy and sell because of the insane volatility. I think it goes up this week based on good news out of the conference. But like I said, if you truly think I’m an idiot, here is your chance to put your money where your mouth is and have the balls to short it.

  55. Michael says:

    Thanks for the info and advice. Appreciate it.

    clotluva says:
    July 20, 2014 at 1:35 pm
    hydrogen infrastructure is expensive to develop and maintain (because the atoms are so tiny) and in the end, hydrogen power isn’t really “clean energy”, since hydrogen is not a naturally occurring fuel source (ergo, it is inefficient to create). so in terms of net benefit, it is similar to electric cars that are charged with electricity generated from burning coal.

    had a friend that worked for plug power 10 years ago or so…not much has changed with their technology…they will only go as far as the PR hungry companies (and zealous speculators) will be able to subsidize them.

    and hydrogen is way down on the DOE’s list of areas in which it wants to invest, so outlook for sustained federal subsidies/R&D is weak.

    enjoy the ride. but IMO, a better long term play would be to invest in CNG/LNG infrastructure.

  56. Juggalo4eva says:

    Passion Fruit is making me long for the good old days of SRS.

  57. Juggalo4eva says:

    Hey Passion Fruit- you ever go to dinner at Le Bernardin and discover you’re the only person in the room?

  58. Juggalo4eva says:

    That’s what happens when you short. Winning becomes losing. And, being the only person in the restaurant makes you feel like you’re what’s for dinner.

  59. grim says:

    57 – noted

  60. Libturd at home says:

    “And, being the only person in the restaurant makes you feel like you’re what’s for dinner.”

    Like going don’t on the craps table.

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