Island economics, arbitrage and green markers

We have been down in the Keys this week in Islamorada. Once upon a time my favorite place on the planet was Key West but as I have mellowed some with age that spot has shifted a bit north to Islamorada. It is gorgeous here and if we choose ot get a little rowdy there’s still plenty of spots to do that when the mood strikes. In fact as it is our last night here for this trip I can see a trip to the Zane Grey Grill sunset at Lorelei’s and Hog Heaven late night in my future. Or maybe we will just down rumrunners at the Holiday Isle Tiki bar since it is on our hotel grounds. So may choices so little time!

Anytime I drive travel around the country I like to take collect anecdotal evidence about the world and the economy that might help us make some money. This trip down we were looking at property as it is not going to be too terribly much longer before I decide I need to live here and visit other places. What we found is a real estate market that still has a few foreclosure and distressed sales but has improved since 2010. Back then it seemed that every house in the Keys was for sale and most of them were distressed sales. In hindsight we should have jumped on one of those bargains but I had not yet even convinced the wife of the merits of Florida yet. Since then I have knocked about 900 miles off the move and just need to tack on another 300 or so to land in our eventual destination. There is a lot of inventory and most of it is reasonably priced.

The commercial sites are filling back up. I am ...

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Frustration, Impatience and Madness

It has been an interesting week for the markets to say the least. Yesterday we saw a 350 point swing in prices after the fed released its statement removing the word patient as far as interest rate increases. I could ...

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Weddings, MBAs and Baseball

This time last week I was trapped in a hotel room north of Baltimore waiting for snowstorm to subside. Nothing in the area was open. not even the local Starbucks. We were trapped eating really bad hotel food but fortunately ...

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The Evidence is Overwhelming and the Potential Profits are Enormous

I talk a lot about the opportunity in small banks and I am huge believer in it. We have already been profiting from the bank merger trend for a few years now in the aftermath of the credit crisis and ...

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Buying Banks, Mad Greeks and Talking Baseball

The 13F filings are in and I have spent hours going through them this week. After sorting through the buying and selling activities of my favorite value and activist managers I have reached some anecdotal conclusions about  the quarter. There ...

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Talking Banks on the Value Investing Show

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Shrinking banks, expensive liquidity and the blues

I had a nice discussion earlier this week with the former CEO of Bryn Mawr Bank Corp (BMTC) earlier this week. Under the leadership of Ted Peters Bryn Mawr has been a consistently high performing bank and even in the ...

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Shrinking banks, expensive liquidity and the blues

I had a nice discussion earlier this week with the former CEO of Bryn Mawr Bank Corp (BMTC) earlier this week. Under the leadership of Ted Peters Bryn Mawr has been a consistently high performing bank and even in the ...

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Reading List

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Volatility,Drinks and Happiness

It is getting crazy out there. Most of the trading days so far this year have had at least a 200 point swing on the Dow during the day. Traders are scrambling to react to each and every bit of ...

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Coverage of Acquire or be Acquired Conference Today

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QE, oil and don't let the truth get in the way of a good staory

After many years of falling short of expectations Mario Draghi and the European Central Bank stepped up big today. Going into the announcement today the consensus expectation was for the ECB to announce a plan to buy back bonds worth ...

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