tag:blogger.com,1999:blog-1527840491496268397.post4694555476313155257..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: "Under Pressure From Uber, Taxi Medallion Prices are Plummeting"Unknownnoreply@blogger.comBlogger10125tag:blogger.com,1999:blog-1527840491496268397.post-64793155367915463692014-12-01T10:14:22.631-07:002014-12-01T10:14:22.631-07:00James, do you subscribe to VIC? I'd like to ge...<i>James, do you subscribe to VIC? I'd like to get someone to archive and send me the MCP thread and maybe some others.</i><br /><br />I'm just a guest at VIC, so a lot of the site isn't visible. In the MCP writeup, 2/3rds of the comments are members-only. The visible ones mostly make fun of a high school kid who wrote the stock up on Seeking Alpha.Jameshttps://www.blogger.com/profile/06597727760854955867noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-82256862343652624592014-11-29T20:11:03.765-07:002014-11-29T20:11:03.765-07:00CP,
Who is the "Mario Cuomo" who's ...CP,<br /><br /><i>Who is the "Mario Cuomo" who's a director of TAXI??:</i><br /><br />From my earlier link above:<br /><br /><i>Former New York governor Mario Cuomo, who sits on Medallion Financial's board of directors...</i>Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-73963621167335623462014-11-29T19:39:05.472-07:002014-11-29T19:39:05.472-07:00Who is the "Mario Cuomo" who's a dir...Who is the "Mario Cuomo" who's a director of TAXI??:<br /><br />http://finance.yahoo.com/q/ir?s=TAXI+Insider+RosterCPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-8829150132967637252014-11-29T19:38:49.789-07:002014-11-29T19:38:49.789-07:00Look at the chart of Taxi:
http://stockcharts.com...Look at the chart of Taxi:<br /><br />http://stockcharts.com/h-sc/ui?s=TAXI&p=D&yr=3&mn=0&dy=0&id=p25916544598<br /><br />Longer term:<br /><br />http://www.barchart.com/chart.php?sym=TAXI&t=BAR&size=M&v=1&g=1&p=MO&d=X&qb=1&style=technical&template=CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-2972222970494901842014-11-29T19:33:38.446-07:002014-11-29T19:33:38.446-07:00James, do you subscribe to VIC? I'd like to ge...James, do you subscribe to VIC? I'd like to get someone to archive and send me the MCP thread and maybe some others.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-88043821228284442912014-11-29T19:33:04.380-07:002014-11-29T19:33:04.380-07:00Also talked about the "VIC problem" here...Also talked about the "VIC problem" here and here:<br /><br />http://www.creditbubblestocks.com/2013/08/what-time-is-it.html<br /><br />http://www.creditbubblestocks.com/2014/09/young-money-why-value-investing-in-tech.htmlCPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-66158730983475128052014-11-29T19:32:14.150-07:002014-11-29T19:32:14.150-07:00James, that is a great point about VIC ideas. That...James, that is a great point about VIC ideas. That's something we've talked about a little bit before.<br /><br />http://www.creditbubblestocks.com/2014/05/review-of-cooked-natural-history-of.html<br /><br />Especially:<br /><br /><i>"Low-quality stocks have had an incredible 14-year run, and I think that's trained people to underestimate the risks inherent to emerging markets, low-P/E cyclicals, turnarounds, etc. A lot of VICers mistakenly think they're buying value when they're really betting on low-quality outperformance."</i>CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-57852601548268480662014-11-29T18:02:18.020-07:002014-11-29T18:02:18.020-07:00I proposed a crisis solution based on taxi medalli...I proposed a crisis solution based on taxi medallions. I don't know why I couldn't get anyone to take it seriously though, lol. Sigh.<br /><br /><b>January 22, 2011</b><br /><a href="http://illusionofprosperity.blogspot.com/2011/01/crisis-solution-tenderloin-medallions.html" rel="nofollow">Crisis Solution: Tenderloin Medallions</a><br /><br /><i>If it works for the taxi industry, then why can't we just apply it to the beef industry?</i>Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-49122728688676514222014-11-29T17:48:47.617-07:002014-11-29T17:48:47.617-07:00The most interesting part of the NYT article is it...The most interesting part of the NYT article is its description of how much medallion prices have risen in the past decade. <br /><br /><i>In November, Chicago medallion sale prices averaged $298,000, well below the $357,000 price that was typical this spring, but far up from the $50,000 price of a decade ago.</i><br /><br /><i>Not long ago, with demand for taxis rising and the supply fixed, medallions soared in value: A medallion that could be bought for $250,000 in New York a decade ago (or about $315,000 in inflation-adjusted dollars) was worth over $1 million last year.</i><br /><br />A 40% LTV sounds really conservative until you realize the collateral is >70-80% overvalued.Jameshttps://www.blogger.com/profile/06597727760854955867noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-24128300764419118352014-11-29T17:25:03.159-07:002014-11-29T17:25:03.159-07:00TAXI was written up on VIC as a long in 2012. As w...TAXI was written up on VIC as a long in 2012. As with the MUSA writeup, the author all but admitted it's a bad investment. A couple choice quotes:<br /><br /><i>Although taxicab medallions have appreciated in value over time, they are difficult justify as an income investment to new investors and non-industry participants. The argument for a medallion investment revolves around the regulated supply and recession-proof taxi-fare industry dynamics..."<br /><br />"The majority of [medallion] buyers are taxi insiders from Long Island who are using past investments and ownership as equity to finance additional medallion purchases."</i><br /><br />This could get ugly quick.Jameshttps://www.blogger.com/profile/06597727760854955867noreply@blogger.com