Monday, October 21, 2013
Accelerated Learning
I have the ability to learn ANY things I want to learn, to achieve ANY goals I want to achieve, and to become ANY person I want to become.
Tuesday, May 24, 2011
還是忍不住買了NIKON D5100
經過了幾番考慮之後,還是在5分鐘前按下了"PLACE ORDER"這個鈕:
收據:
Item(s) Subtotal: $1,083.83
Shipping & Handling: $0.00
Promotion Applied: -$100.00
-----
Total Before Tax: $983.83
Estimated Tax To Be Collected: $0.00
-----
Grand Total: $983.83
下定決心的因素就在於:
1)經過了幾年後,還是想比較看看NIKON,CANON的不同點在哪裏
2)AMAZON現有的優惠:如果之後賣了鏡頭和機身的話並不會虧太多.
3)最後還是想玩玩新的科技啦~ :)
4)D5100是一台非常輕巧的隨身單眼相機.希望能夠在平常的時候也能多帶它出去.
收據:
Item(s) Subtotal: $1,083.83
Shipping & Handling: $0.00
Promotion Applied: -$100.00
-----
Total Before Tax: $983.83
Estimated Tax To Be Collected: $0.00
-----
Grand Total: $983.83
下定決心的因素就在於:
1)經過了幾年後,還是想比較看看NIKON,CANON的不同點在哪裏
2)AMAZON現有的優惠:如果之後賣了鏡頭和機身的話並不會虧太多.
3)最後還是想玩玩新的科技啦~ :)
4)D5100是一台非常輕巧的隨身單眼相機.希望能夠在平常的時候也能多帶它出去.
Sunday, March 28, 2010
Using Non-Standard Port for SQL Server — DatabaseJournal.com
Using Non-Standard Port for SQL Server — DatabaseJournal.com: "ient to an instance that is using a specific non-standard port number."
Friday, March 5, 2010
高雄未必就是綠地／南方快報《陳茂雄專欄》
高雄未必就是綠地／南方快報《陳茂雄專欄》: "民進黨的支持者自主性較高，而中國國民黨的支持者跟著樁腳走" - 這句話就是重點了..國民黨支持者説穿了就是沒有大腦啦
Thursday, March 4, 2010
Wednesday, March 3, 2010
Canon EOS 550D vs. 7D - Which one is right for you? - DigitalRev.com
Canon EOS 550D vs. 7D - Which one is right for you? - DigitalRev.com
New camera keeps coming out every few months. I still love my 5D MKII !!
New camera keeps coming out every few months. I still love my 5D MKII !!
Thursday, June 25, 2009
Get Ready for Big Banks to Bounce Back
Source: Barron's Online (http://www.blogger.com/post-create.g?blogID=7577064437281603331)
Get Ready for Big Banks to Bounce Back
By AVI SALZMAN
Veteran bank analyst Richard Bove says Citi and Bank of America will surge in coming years.
RICHARD BOVE, KNOWN as the dean of the banking analysts, can explain how Andrew Jackson's promotion of wildcat banks in 1837 was similar to the subprime-lending boom of our era. He knows what Grover Cleveland did wrong during the crisis of 1893. But Bove is still kicking himself for failing to recognize just how hard the entire financial system would crash last year.
Nonetheless, Bove, now at Rochdale Securities, is optimistic again.
Fresh off a chat with executives at Citigroup (ticker: C), Bove stopped by the Barron's offices to talk about why profits at some big banks could quintuple; why former Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke, and Federal Deposit Insurance Corp. Chairman Sheila Bair are "legitimate American heroes"; and how Citi's loan losses in the next few quarters "are going to blow your mind."
Manager's Bio
Name: Richard Bove
Age: 68
Title: Bank analyst, vice president, Rochdale Securities
Education: BA, political science, Columbia University
Hobbies: Keeping up with 13 grandchildrenBarrons.com: If you buy Citigroup stock now, is it like buying Citi in the early '90s, when the business seemed doomed and the stock price was down around $2 a share?
Bove: I think so -- as long as Citigroup is going to do well in the next few quarters.
Q: And will they do better in the next four quarters?
A: Well it depends. If you think we are going into a depression, Citigroup is not going to do well, and the rest of the American banking system is not going to do well. If you think that the economy is going to turn around, which I believe is the case by the end of this year, then the profitability of the American banking industry is going to be explosive on the upside. If it turns around, banks are going to see a fivefold increase in their net income.
Q: So, your view of Citi is that this mess is almost all forgotten in five years? We will be looking at a stock that is trading in double digits?
A: Let me ask you, who the hell remembers what happened in 1990, '91? Nobody. And the stock from 1993 to 1998 exploded.
Q: You see that happening again.
A: I'm not going to tell you Citi is ready for it yet, because my sense is that Citi does not understand Citi yet. In other words, the board of directors of Citi has no confidence in the management of Citi for good reason.
The issue is that over a period of three and a half decades [top Citi executives] have destroyed the efficient use of capital, and they have destroyed the whole management crew of that company…. Now people take a look at [Chief Executive Officer] Vikram Pandit, and they say this guy is not moving fast enough. He is not turning this company around. How can you turn around 35 years of mismanagement and inappropriate use of capital in less than a decade? You can't do it. I think Vikram Pandit is doing everything right, personally. But I don't think that he has come to grips with these two issues -- personnel and capital -- because he is spending too much time putting out fires. The government wants him fired. They have got all these loan losses in the next couple of quarters at Citigroup -- are going to blow your mind they are going to be so big.
Q: But your sense is that after that, the business will improve dramatically?
A: If the U.S. government says we are not going to let it go bankrupt, it is not going to go bankrupt. So if it is not going to go bankrupt, ultimately, it is going to be fixed. Ultimately, you are going to figure out how to do it right, and when you figure out how to do it right Citigroup comes out of it in a really strong position. Now what does it have that would make it come out of this thing, and what are the things that Pandit can do when he has a chance to look beyond these political issues? No. 1, Citigroup is in 140 countries. There is no other bank in the world in 140 countries. What if you are the U.S. government and you have a need to function at some point in one or other of these countries. Who are you going to go to, to handle the transmission of cash, to help in placing people? You go to Citigroup. Who do you think is funding Iraq for the U.S. government? Citigroup is.
The wealthy, the powerful in every one of the major countries in the world have accounts at Citigroup. So Citigroup does perform a vital need. Plus, Citigroup has certain businesses that actually do pretty well. Credit cards are a business that they still seem to do reasonably well. They still have corporate services of a wide variety, which they do better than anybody else. So there is a need for Citigroup. And they'll eventually buy back all the excess stock that was issued recently.
Q: Who else right now has the brightest future, particularly in terms of stock price?
A: Bank of America (BAC). Think about this. In 2006 Bank of America wrote off about $5 billion of bad loans. In 2007 I think they wrote off $8 billion, and in 2008 they wrote off $24 billion. This year they'll write off -- I'm estimating $46 billion. Again, in a decent economy you are not going to be writing off $46 billion. That number will go back down to somewhere around $4 billion or $5 billion a quarter. That's $41 billion in loan losses which go from loan losses to pretax income, and triples, quadruples Bank of America's earnings. The stock is going to go back to $35 a share as far as I'm concerned.
Q: Has the government handled the crisis effectively? Was it right to put a gun to the heads of some of these bank executives to basically force them to make acquisitions?
A: The government had to take extraordinary steps. And I think Paulson, Bernanke and Shelia Bair were legitimate American heroes. Why? Because they acted. They saw that the American financial system was going to collapse and they acted. They took the steps necessary to prevent that from happening.
So, now the crisis was resolved. In other words…you have shored up confidence in the banking system, so we'll go on to the next mania or the next panic. But the point is this: [It] seems to have been resolved for the big banks, and now what is going to happen is you are going to see different regulators go out to the small banks and shut down maybe 150 to 200 of them.
Q: You mean the much smaller banks, not the regional banks?
A: Yes. You have 50% of the assets in the American banking system in four banks. If you take the banks that have over $20 billion in assets, that's 73% of the assets of the American banking system. So, you subtract 30 banks from 8,246 and you come up with, like, 8,215 banks that have the other 26% or so of the assets of the American banking system. You know there are a lot of them that should be gone.
Q: And they should be gone because they have solvency issues?
A: Because they are unprofitable. Essentially these banks are one-trick ponies. But those 8,200 banks take in deposits and make loans on residential real estate. They make construction loans, they make mortgage loans, they make home-equity loans but that's all they do, they don't do anything else. So if residential real estate is in terrible trouble, then these guys have no other options but to live with the cycle. And if the cycle is bad enough -- and this one certainly is -- then these banks start losing a lot of money.
Q: Thanks.
Get Ready for Big Banks to Bounce Back
By AVI SALZMAN
Veteran bank analyst Richard Bove says Citi and Bank of America will surge in coming years.
RICHARD BOVE, KNOWN as the dean of the banking analysts, can explain how Andrew Jackson's promotion of wildcat banks in 1837 was similar to the subprime-lending boom of our era. He knows what Grover Cleveland did wrong during the crisis of 1893. But Bove is still kicking himself for failing to recognize just how hard the entire financial system would crash last year.
Nonetheless, Bove, now at Rochdale Securities, is optimistic again.
Fresh off a chat with executives at Citigroup (ticker: C), Bove stopped by the Barron's offices to talk about why profits at some big banks could quintuple; why former Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke, and Federal Deposit Insurance Corp. Chairman Sheila Bair are "legitimate American heroes"; and how Citi's loan losses in the next few quarters "are going to blow your mind."
Manager's Bio
Name: Richard Bove
Age: 68
Title: Bank analyst, vice president, Rochdale Securities
Education: BA, political science, Columbia University
Hobbies: Keeping up with 13 grandchildrenBarrons.com: If you buy Citigroup stock now, is it like buying Citi in the early '90s, when the business seemed doomed and the stock price was down around $2 a share?
Bove: I think so -- as long as Citigroup is going to do well in the next few quarters.
Q: And will they do better in the next four quarters?
A: Well it depends. If you think we are going into a depression, Citigroup is not going to do well, and the rest of the American banking system is not going to do well. If you think that the economy is going to turn around, which I believe is the case by the end of this year, then the profitability of the American banking industry is going to be explosive on the upside. If it turns around, banks are going to see a fivefold increase in their net income.
Q: So, your view of Citi is that this mess is almost all forgotten in five years? We will be looking at a stock that is trading in double digits?
A: Let me ask you, who the hell remembers what happened in 1990, '91? Nobody. And the stock from 1993 to 1998 exploded.
Q: You see that happening again.
A: I'm not going to tell you Citi is ready for it yet, because my sense is that Citi does not understand Citi yet. In other words, the board of directors of Citi has no confidence in the management of Citi for good reason.
The issue is that over a period of three and a half decades [top Citi executives] have destroyed the efficient use of capital, and they have destroyed the whole management crew of that company…. Now people take a look at [Chief Executive Officer] Vikram Pandit, and they say this guy is not moving fast enough. He is not turning this company around. How can you turn around 35 years of mismanagement and inappropriate use of capital in less than a decade? You can't do it. I think Vikram Pandit is doing everything right, personally. But I don't think that he has come to grips with these two issues -- personnel and capital -- because he is spending too much time putting out fires. The government wants him fired. They have got all these loan losses in the next couple of quarters at Citigroup -- are going to blow your mind they are going to be so big.
Q: But your sense is that after that, the business will improve dramatically?
A: If the U.S. government says we are not going to let it go bankrupt, it is not going to go bankrupt. So if it is not going to go bankrupt, ultimately, it is going to be fixed. Ultimately, you are going to figure out how to do it right, and when you figure out how to do it right Citigroup comes out of it in a really strong position. Now what does it have that would make it come out of this thing, and what are the things that Pandit can do when he has a chance to look beyond these political issues? No. 1, Citigroup is in 140 countries. There is no other bank in the world in 140 countries. What if you are the U.S. government and you have a need to function at some point in one or other of these countries. Who are you going to go to, to handle the transmission of cash, to help in placing people? You go to Citigroup. Who do you think is funding Iraq for the U.S. government? Citigroup is.
The wealthy, the powerful in every one of the major countries in the world have accounts at Citigroup. So Citigroup does perform a vital need. Plus, Citigroup has certain businesses that actually do pretty well. Credit cards are a business that they still seem to do reasonably well. They still have corporate services of a wide variety, which they do better than anybody else. So there is a need for Citigroup. And they'll eventually buy back all the excess stock that was issued recently.
Q: Who else right now has the brightest future, particularly in terms of stock price?
A: Bank of America (BAC). Think about this. In 2006 Bank of America wrote off about $5 billion of bad loans. In 2007 I think they wrote off $8 billion, and in 2008 they wrote off $24 billion. This year they'll write off -- I'm estimating $46 billion. Again, in a decent economy you are not going to be writing off $46 billion. That number will go back down to somewhere around $4 billion or $5 billion a quarter. That's $41 billion in loan losses which go from loan losses to pretax income, and triples, quadruples Bank of America's earnings. The stock is going to go back to $35 a share as far as I'm concerned.
Q: Has the government handled the crisis effectively? Was it right to put a gun to the heads of some of these bank executives to basically force them to make acquisitions?
A: The government had to take extraordinary steps. And I think Paulson, Bernanke and Shelia Bair were legitimate American heroes. Why? Because they acted. They saw that the American financial system was going to collapse and they acted. They took the steps necessary to prevent that from happening.
So, now the crisis was resolved. In other words…you have shored up confidence in the banking system, so we'll go on to the next mania or the next panic. But the point is this: [It] seems to have been resolved for the big banks, and now what is going to happen is you are going to see different regulators go out to the small banks and shut down maybe 150 to 200 of them.
Q: You mean the much smaller banks, not the regional banks?
A: Yes. You have 50% of the assets in the American banking system in four banks. If you take the banks that have over $20 billion in assets, that's 73% of the assets of the American banking system. So, you subtract 30 banks from 8,246 and you come up with, like, 8,215 banks that have the other 26% or so of the assets of the American banking system. You know there are a lot of them that should be gone.
Q: And they should be gone because they have solvency issues?
A: Because they are unprofitable. Essentially these banks are one-trick ponies. But those 8,200 banks take in deposits and make loans on residential real estate. They make construction loans, they make mortgage loans, they make home-equity loans but that's all they do, they don't do anything else. So if residential real estate is in terrible trouble, then these guys have no other options but to live with the cycle. And if the cycle is bad enough -- and this one certainly is -- then these banks start losing a lot of money.
Q: Thanks.
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