Wednesday, 13 August 2008 01:00

Some pleasant emails

Since I don't get paid to do this it can be a bit laborious at times, but the uplifiting emails that I get (most of them, anyway) make it all worth the while. Some of you guys and gals have some pretty positive things to say. I just want to say thank you for the support. Here is a smattering of comments that I gathered while cleaning out my inbox:

regg, i have been a member since january 2008, i just want to thank you for all that u do, may the LORD continue to bless you and your family


Hi Reggie,

We have been working towards securing our financial future for 25 years. With no pensions we must plan carefully and do lots of homework. Over those years NOTHING in the financial press can compare to what we have found on your blog-nothing! The honesty, in-depth research along with a touch of good humor has been an eye opener after all these years and many thousands of hours spent pouring over what we now recognize was often very marginal work. We now see the Street has often not been straight with us. Many, many thanks Reggie, for what you have done here for those of outside the loop now looking in much more clearly....

Best regards,


What can I say, other than "Wow!". Wait--I know what else I can say: "Thank you!".

Your blogsite has completely blown me away. Every time I read a page of your blog, I am learning and growing as an investor. I have always leaned on technicals and charting, because frankly I would just get overwhelmed and frustrated when trying to analyze a financial services company. Your analysis breaks everything down so cleanly, and your presentation style is top notch--informative and even witty. As I follow your examples, I am finding it a tad easier when I want to look at the fundamentals on my own.

So thank you, Reggie. Thanks for sharing your knowledge and expertise. It is GREATLY appreciated!

Kind regards,


Just wanted to thank you for putting together the event at Buddakhan. Had a wonderful and most importantly enlightening time with you.

I know you have your motives for putting together the blog and what not...but I have to say what you are doing in truely appricated....looking foward to hopefully listening in again


I have been following you since Oct 07. I am sure I speak for the great, great majority of your readers (at least up to the 95th percentile)in saying that your high standards in research, your personal honesty, and your abundant and trenchant intelligence, are very much appreciated.

You certainly must realize that you have a following. I imagine that most of the time it is satisfying to have a forum for your views that is appreciated and validated. I hope that only occassional it is not!

Your following is different than that from a number of blogs I read. How? By the following: xxxxxxxxxxxxxxxxxx (several very popular financial and economic blogs) for example, get a great # of "comments" from people who like to make "air", "hear,see themslves blog", etc. They are comfortable with responding, en masse, to the posts. Why is that? Not to discredit xxxx or xxxxx or xxxxx, etal, but their blogs lack of market specificity (specific companies, issues, trends, problems, etc) lends itself to an ease of general reader response that is along the lines of the obvious: "You know xxxx, I am in total agreement",or "when will these idiots in DC learn"?,or "The man on the street knows more than Bernanke", etc. These are usually pablum responses that require little more than a few keystrokes.

How are you different? Because of the erudition of your posts, any comments from your readers are typically a question about how does Reggie think on another topic, often kudos on your post, or, only occasionally, a well reasoned, or insightful additive comment. Why is the latter most rare? I think simply the quality of what you offer is so high, that your standard reader (myself certainly included, though I also believe your readership is quite "above average!))will not venture an inane, immaterial or dumb reply. This is a compliment of the highest order.

You have been quiet recently. A burst of some activity, but a decided lessening of posts. I know and appreciate, tha you bear no moral responsibility for submitting material to the blog. Like it or not though, you have a following! There is an expectation to hear from you not only as pertains to your targeted research, but also as in a general view during the more difficult market circumstances. I know you are very careful, and properly so, to not dispense investment advice. As you do not dispense that, I am not asking for that, clearly.

In the face of todays seeming market irrationality, and the substantial and unnerving, 1-2% up and down days in the broader market indices recently, your readership wonders when we do not hear from you. Yes, we know that you are substantially a private investor, and as such, are spending much needed time on digesting all the information needed to make timely investment moves.

I believe your readership would find it helpful for an occassional macro view update, particularly when you cannot author your company specific posts. These would be helpful, (I am sure it is not just me Reggie!) And no, I do not mean a review of the Dow!, or prospects for tech stocks. I mean a macro view of your investment world. During time consuming periods for you, a short simple posts that say: "I am busy digesting the broad issues"..."I am not posting company specifics because I am busy", "I am prceeding with caution", "I am committed to the intermediate view of a continued declining financial stock environment", etc.

Reggie: I hope i have communicated clearly.

I thank you for the excellence of your (and your staffs) work

Best Regards,


Reggie,

I believe you should charge upwards of $5000 yearly. I price myself out of subscribing but know there are many who could and would gladly pay this for what amounts to some of the very best research to be found. Most of what passes for research on the Street amounts to nothing more than a footnote alongside your work.

Regards,


What a wonderful source for some amazing information and insight. Thanks so much Reggie - all I can say is "wow".


Reggie,rnrnI wanted to thank you for your blog; it is a blessing!

rnrnIs there a subscription service that offers more of your research/insight that could be purchased? rnrnThanks again.


Dear Reggie,

I just have to take the opportunity today to thank you again for your blog and congratulate you regarding your spare time social activities.

As for the negativity from some that touched you and put you in a negative mood.

Let them go, it is hard in the beginnig (once you decide that negativity is nothing for you) to avoid the rush and anger of being unfairly attacked, but if that is your decision it will come and can be felt as some sort of mildness, wish them that they loose their negativity (in your thoughts that's enough) and move on, I experienced this (I am not perfect yet) and you sure can do it, too. Nobody should pull us down!

Best regards,


Hello Reggie,

I understand your reaction to the comment posted by a reader in connection with the boat ride. Please pay no attention to that individual. Whatever his or her motives were, do not let it detract from your desire to continue to share your insightful personal opinions. Disregard the silly remark and please keep up the good work.

Regards,


Hi Reggie

It is interesting that your offer of a boat trip could cause so much "noise". I have been reading your blog for about 8 months as I was having a difficult time finding any views that supported what I believed. What you have provided "free" to your members has been outstanding and a large group of us thank you very much.

Hopefully you wont let a few bad apples spoil it for those who enjoy and respect your views as I believe as the site becomes more popular it will happen on a more regular basis.

On a side note I would love to hear your views and join you on the boat ride but it is my daughters bday that weekend. I have a networth of 1.5M and liquid of 1.2M so I think I would just sneak in :-)

Thanks again for all your hard work and I like many others would be willing to pay for your research/effort if you ever go to that type of model.


Hi Reggie,

I came across you @ Seeking Alpha ever since your Nov 5, 2007 post there about Ryland & have been an avid

follower of your blog ever since.

I noted that when you moved from http://reggiemiddleton.typepad.com/ to http://boombustblog.com/ , you had

mentioned that you were considering higher end subscription services as well.

I have been following the latter blog site & was wondering that by now you might have got such a service up & running.

Have you ?

If so, could you let me know the rates, procedure etc..... I would love to sign up, if its available.

Keep up the great work.

Looking forward to your reply.


Reggie:

Read an article on Seeking Alpha about Wells Fargo (Doo-doo). I thought it was outstanding so decided to check out your site.

I'm impressed by your ability to do all this yourself--analysis for one, but the website too!

Great job,


Dear Reggie:

This has to be an exciting time for you. I am a physician, still in practice, and a devotee of your blog. If you have not had a thorough physical in the last year or so, please take the time to get one. Stuff creeps up, and nothing is as precious as your health. Just because you are good at running on empty doesn't mean it is good for you. I have been an ER doc for 35 years, and I know whereof I speak.

Take care of you.


I am a CFA and do analysis work myself. I find your work to be the best I have ever read. Spot on, no holding back. One of the first things that needs to be done by the Regulators is fix the sell side analyst's conflict of interest. Their reports are absolute jokes.

If you are ever in our beautiful city of Asheville, NC, I would love to take you out to dinner.


Reggie,

Just wanted to say thanks for your hard work! It is invaluable to have the information that you compile. Your research is right on the money.

If there was some way to pay a subscription for your research I would. I don't know the laws as far as providing advice, but you *should* be compensated for your work.


Your welcome,your advice has been laser focused ,and your knowledge 2nd to none.Thanks T


Reggie,

I find in the last year or so that I have narrowed my reading down to several financial writers to filter out a lot of the noise.I take Jim Willie's newsletter, Bob Chapman's, Ty Andros free newsletter, and visit Jim Sinclair's website almost daily. I have found that you do your homework very well, You are right about things time after time, and what you publish is now a must read for me. Oh, I made a couple of bucks shorting Bear Stearns. Thanks!!


THANK YOU FOR THINKING OF ME AND READ EVERYTHING HE WRITES. I THINK REGGIE IS ONE OF THE BEST. HIS BSC, MBI, AMB, LEN AND OTHER CALLS HAVE BEEN SPECTACULAR. OF COURSE, I HAVE MADE A FEW DOLLARS ON HIS ANALYSIS.


Not so, Reggie. I logged on a few times, but shortly after registering I discovered I could access most everything I needed without logging in. Be assured that I visit your site multiple times daily. I am greatly disappointed when there is nothing new; on the other hand, when there is something new, I know I will have to spend some time carefully reading it.

Yours and Mike Shedlock's sites are my two favorites.

Keep the analyses coming!


Great blog! I've gone back and read every single post from 2007 through today, you're quite prescient!


Hi Reggie,

I just wanted to thank you for such an incredible blog. I feel bad to be a freeloader right now, but unfortunately I'm just beginning in the markets and don't know enough to contribute anything about anything. Hopefully that will change soon, and if it does, it's mainly you that I'll have to thank, since I'm trying to use your analyses of various companies as a template to eventually be able to analyse them myself.

Anyway, thanks again--your blog is absolutely incredible, and it's the only thing I make sure to check every day.


Great stuff and I am making a killing on your recommendations and research! Unfortunately my fat wife and 9 kids prevent me from sharing my newfound wealth but thanks anyway!!


I stumbled upon your blog a few months ago and found it to be an excellent source of information that one would be difficult to aggregate on their own, much less offer the in depth analysis.

I just wanted to let you know that being a commercial appraiser and currently working on an appraisal for Regions, I've found that, at least in this case and from my own percepective, the commercial loan officers seem as eager to "take borrowers at their word" as the residential loan officers in the past. After all they are not lending their own money. I look forward to your continuing analysis of the doodoo 32.

i appreciate your passion for this blog


I just finished reading over your analysis of Wells Fargo, which I found quite interesting. It so happens that I worked at Wells Fargo Home Mortgage in xxxxx in 200x, and again for the same group in xxxxxxx in 200x and 200x. My work was as a technical person in support of their data warehouses, which fed their risk management and bond trading system. When I asked why the xxxxxxx organization was not held to the same technical standards as the rest of the company, I was told that the mortgage operation accounted for roughly 55% of Wells Fargo's annual profits, and that because of that nobody in senior management was willing to confront them on such issues. I have no way of knowing if the profit figure I was told is accurate, but even if it is 70% true, the implications are interesting.

For my own part, I have taken a position in the Proshares inverse financials fund rather than try to short individual bank stocks, but I certainly wish you luck on your investments -- bottom line is that the fuckers have it coming.


just wanted to let you know i finished the CFA exam level 2 and was wondering if you could still use a smart analyst willing to work for free in exchange for some learning?


Man, your timing on 32 worst banks was amazing! So funny, could have picked almost any one of them to short when you posted that article


Been reading up on your blog & seen the deepth of your insight. Helps to keep small ships from sinking/families when so many big ships/large financial are going down/under. We little guys in the slave quarters thank you for exposing some massive leaks so we don't drown down below. Alan


As a 66 year old engineer/investor, I wanted to express my deep appreciation for making your analysis available to people like me. I use options exclusively and have done very well using info from your research and blogs. Please keep it up.


I came across your blog through the Mortgage Implode-o-meter website, which I have been cruising for the past couple of months. So I'm a late-comer to these credit crisis websites. Mostly, with low expectations such as making sure my family's deposits and brokerage accounts aren't tied to an FDIC insured deposit limit basket case institution in the making. You've obviously had a lot of success over the years, but I just wanted to tip my hat to you over your BSC succcess a couple of months ago. The obvious detail of your team's research made that a well-deserved win.


Hey, I am a fellow Seeking Alpha contributor and have found your work to be quite provocative. You are one smart dude!

The reason I am contacting you is to ask you a few questions: What are your thoughts on the duration of the strains on the financial system and how is it ultimately is resolved? What do you think is the least anticipated negative surprise that will occur over the next few months?

Thanks for your thoughts, and keep up your intensive efforts.


Hi Reggie, I just ran across your blog and must say that I find it simply amazing. How the heck do you find the time to do such detailed analysis! Your site is now at the top of my favorites list. I've been on it all day. Thanks for making it public!


I recently found your website, and I am already a huge fan. I also invest exclusively for myself as a living, and it is nice to see another smart investor who has recognized the "smoke and mirrors" accounting practices that is occurring in our financial markets. Like you, I am short many of the investment banks, as well as many of the REITs (primarily the ones specializing in commercial real estate). I have actually been short these sectors for quite some time now (18 months+), and I still have a few scars left over from being much too early! I, like you, believe that there is huge money to be made in shorting the coming collapse in commercial real estate.

In case you haven't seen them, there are other excellent websites published by some like-minded individuals. Check out these two for a start:

http://market-ticker.denninger.net/index.html

http://globaleconomicanalysis.blogspot.com/

The market ticker site also runs a very active message forum that is amazingly filled with some very smart investing minds (a far cry from the typical Yahoo message boards!). You should check it out sometime.

Lastly, have you ever run the numbers on shorting Moody's? It was a very successful short of mine for the second half of last year, and I rescaled back in after the recent pop on some mindless pump news. I feel that their huge profit margins made from rating structured finance is largely over, and going forward, they will probably have to face numerous lawsuits. In a worst case scenario for them, they could wind up with a ruined name, much like Arthur Anderson, and their executives might just be more worried about staying out of jail as opposed to preserving share prices. The recent "computer bug" excuse by them is probably step one in this legal defense process.

Anyway, I have gone on too long. Thanks again for sharing your hard work and effort on this site.


Last modified on Wednesday, 13 August 2008 01:00

3 comments

  • Comment Link shaun Thursday, 14 August 2008 18:50 posted by shaun

    haha! selling t shirts! i'll get a boombustblog.com tatoo if thats what it takes to keep getting this info, i also simply would not be able to afford 5K$ a year at this point in my career, even though its probably worth much more than that...

    Report
  • Comment Link steve stanek Thursday, 14 August 2008 18:04 posted by steve stanek

    Keep him a secret, and for the love of God, quit encouraging him to charge for this; not sure if I can afford five grand and I really love getting into the details Reggie goes after.

    Thanks agian Reggie! Sorry for not wanting to pay, but you seem like a nice guy and I'm really cheap; just ask my wife.

    What about selling t-shirts for a hundred or two each? You get a little something and we all get to wrap ourselves in the warmth that is Reggie.

    Report
  • Comment Link Ed Ryan Thursday, 14 August 2008 03:00 posted by Ed Ryan

    Many of the readers of this blog have seen the details that are missing from more popular blogs such as:

    http://globaleconomicanalysis.blogspot.com/
    http://www.rgemonitor.com/blog/roubini
    http://realestateandhousing2.blogspot.com/

    The question is: Should we share our insight by promoting this blog?

    Or

    Should we keep it a secret?

    Again, Reggie, You Are The Man!

    Report
Login to post comments