Portrait of Becky Quick

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On Tuesday, July 2, 2013 at 9:16pm, David wrote:

You know, Beck, in the past I've written you long messages and we've talked about everything under the sun, business, my personal problems with Rhonda, your marriage to Matt and Kayla, Kyle, forgot the other one's name. But I don't know, we've become friends haven't we? Until I hear you make fun of me on the air or send me an email saying you never want to hear from me again I'm going to assume we are. It's been 3 yrs, remember my first message, I said right off the bat I was going to try to befriend you. Bet you knew that day you'd be hearing from me on a regular basis. But I don't know, we've grown older now you know? I'm 40, you turn 41 this mo (got to get a card). You ever wonder, one day you wake up and you're not young anymore. I mean when I was in my 30s I thought I was still young, didn't you? Now we're in our 40's, things are changing. I've been under so much stress lately, I may be headed for a midlife crisis, smoking way too much and I know you don't approve of that. That goes back, way before I met you, when I was 20 and friends with January. She inadvertently left a pack of cigarrettes in my old Geo, I tried and never looked back. It's hereditay though, both my parents were heavy smokers back when it was cheaper and that's one of the reasons my mom is no longer alive. I wish I could say you would have lided my mom but I wasn't crazy about her myself. She was bipolar and when she went into her lows, watch out. I still think about her though. Now dad's on a wheelchair, God knows how long he has left. You know he's on dialysis, and we had another elderly resident in the bldg that was and didn't make it very long. But you know I think about my inheritance, maybe it's a blessing in disguise. Oh yeah, I made that $50 I was talking about, but in the mkt. I still feel I deserve at least $500 a mo for the letter. It's a good letter, you know the rejection hurts. Anyway, I've been up studying all nt getting ready to write it tomorrow. I like how it never comes back spam from CNBC. Well I was told by a broker and hedge fund guy they don't accept outside rsch. What, can't even give it away, you know? But our beloved network can accept outside rsch, you guys probably think of it as harmless. Now put me on the payroll for 50gs so I can acheive fncl independence and get married, lol. No, seriously, Becky, I put a lot of work into it and I'm looking for paying work as well. My plan is to move Rhonda back in to a smaller p;lace by Sep, we'll be making $2300 a mo hopefully, enough to pay bills and have a car, hopefully. Oh yeah, I called soc sec, they told me forget about the 2k rule, since my disability is work related, I can have as much as I want. I should ask my dad to transfer my money into my name, what do you think? You know its over 25k, my part, nice safety net to supplement a part time job, keep my head above water and yes, back to the car. Well I was in a lot of pain when I wasn't driving before this yr, trapped in a group home seeing my baby (Ford Fusion) about once a week from the backseat while his aide drove. I flet so helpless with all the other cars whizzing by me. It hurt, you know? You know, both of us are churchgoing Christians but lately I've been swearing at the Lord out of frustration. I can't see Rhonda for another mo, stuck down here with the bugs and heat. We've got African dust like last yr I told you, it makes it feel like 100 with humidity. And don't forget, it never ends down here, we get a total of maybe one mo where it's 70's. No word of a lie, people drive down here with their ac on in Jan., I was refusing to do it but it got so hot I even had to do it. I was just thinking today of the last time I saw snow. You know, I have a separate bank acct from Merrill no one knows about, well accept for you now, if I land a job I'm putting my first few paychecks in there, pay rent and bills out of my Merrill acct. I can grow the other acct to 2k by Oct, because wish me luck, that's when I'm getting married. I'm sick of being 40 and single, I can't wait for my dad to die. Even if he cuts me down to 2k at Merrill, I'll have 4k for a couple of wedding rings and say a trip to Busch Gardens up in Tampa. Then after he goes, Paris. You know, I can't believe he's still got my sister Gayle in there for 50. She's the one I told you about last summer with the house falling down from neglect. Welkl, anyway, she stole $2600 from my dad. She was trying to send her kids to college and he was footing the bill. Now as a fncl person, you of course realize there's a tax credit involved in doing that, she kept the refund. But still, as I look across my base of assets, the house shoudl sell for close to 200k, with all the work we've put into it, hopefully. Then theres' the 600 in the acct, that's 800-50,750k. Rhonda and I will need approx 25-30k to live off of. So let's do the math, I assume just a 6% return over the long term even though I know how to find better opportunities. Guess what it comes to, 45. So, anyway, you know I'll be downsizing soon, I find apts down here go for about $1 per sq foot. I'd like 850, right now I'm at 1200. So you take off 350. I probably won't even miss it, see I've got 2 bathrooms here which to me is totally unnecessary. That's got to account for 200 of it and what's 150, you know? I'll tell you what it is, a $500 a mo rent savings. It's 150 more than we had before. But you know Becky, you may have noticed the lateness of the hour, midnight. Does Kykle still cry through the nt or is he over that? If you're sleeping, lucky, I've been under a lot of stress and haven't been lately. I hope you are, you guys get up at 3:30 or something don't you? I let myself up at 7, afterthe show has already started. I come in here and read the Journal, listen to Squawk and Squawk on the Street. Tomorrow I'm calling McD, got to find out what happened to my application. I put in to a couple of other places too. The basic reason I need the money is to get married. You know I have no friends down here, would Matt be my best man, you could be Rhonda's maid of honor, lol. No, seriously, I think even if you elope you need those people or at least someone to witness it. She called me today, she's in the hospital, not for more psuch care, mind you. She had strep throat, difficulty peeing, so they admitted her. I remember she used to take a water pill which was a little embarassing. You'd take her into Denny's and she would repeatedly go to the bathroom. You know she's older than we are, 57. Hopefully I've got a few good yrs left with her before something happens to her, God forbid. Chances are though, unless I get hit by a bus or something she will die first. Dad blames her for me being kicked out of the bldg too, real nice to hear the other day wehn we were driving, you know the woman I'm trying to marry. I still love finance though, got Meredith's book the other day and then I'm going to try The Modern Securities Analysis. I read the origianl Graham/Dodd work, I guess this explains it. Graham taught your mentor you know, Buffett at Columbia. Hey listen, I'm going to smaoke anothjer cigarrette (I know you don't approve), but then I'm taking another sleeping pill, gotta crash sometime. Your protege and fellow CNBC contributor, Dave


On Tuesday, July 2, 2013 at 5:03am, Marty wrote:

I follow you on Squak you are the smartest one of the bunch, and today you looked absolutely gorgeous with your hair up!


On Friday, June 28, 2013 at 4:50pm, David wrote:

At least our acct came back this week, we're back above 600k. And my part came back by 2k but I've got transactions pending against it. If I had sold things would be worse


On Friday, June 28, 2013 at 4:49pm, David wrote:

I was going through the Journal today and I noticed that William Dudley tried to convince markets they had misinterpreted Bernanke's comments over the last few weeks. He stressed that qe could also be increased, something I brought out in my letter. He also stressed that the fed funds rate would remain at 0-1/4% at least until 2015 and possibly longer if inflation remains at bay and even if the unemployment rate goes down to 6 1/2% if the participation rate remains high. So I was thinking, you know what's the difference? The WSJ defines the labor force participation rate as those either working or seeking work as a percentage of the adult population. But this rate is below 70% implying the job mkt is so tough that unemployment is really over 30% nationwide. I think this fact really rendurs the unemployment rat moot as it only counts those actually working. Ubemployment is certainly much worse than what the govt reports. Did you see where consumer spending rose in May over April and incomes went up .5%, well for those working I guess, it implies annual growth of 6%. This could be a fluke because the trend has been for 2-3% income growth. And did you see Case-Shiller with housing prices well into the double digits, especially in CA where they increased 32%. We're still 27% off 2006 levels but home ownership affordability is way above economic growth, leading one to wonder how sustainable it all really is. See, because I was studying the homebuilders this week and I got really confused by the fundamentals. And it's not just that we've seen such an increase in mortgage rates, homebuilders are intentionally holding back supply. And there is a lot of pent up demand as seen in the backlogs but these purchases can be cancelled. It seems sustainable over the short term because homebuyers will rush in befoer it gets a lot worse, mortgage rates are expected to almost normalize a year out I was reading. But in the long end, we'll still be growing at 2 1/2% at best holding back income growth you know? I decided to let the street decide and they had earnings growing a lot at Pulte, way down at Lennar so I sold Lennar. And did you see where banks are now going to have to put up 5-6% in equity against their assets? This is something the FDIC wanted and they mentioned Tom Hoenig and someone else, I remember Hoening being the president of the KC Fed as being members of the FDIC that wanted equity buffers raised. The FDIC used them as leverage against the Fed who wanted the lower equity cushions. The rules don't kick in until 2019 and the international rules have always been tougher. But this will bring us closer to compliance with the Basel accords. The other week I was reading the banks introduced measures they thought would further the rules but make it easier on them, including increasing long term debt. So if systemic risk presents itself again, the creditholders will pay instead of the taxpayers, we'll have bailins you know? Oh yeah, I'm going to be down another week at the begining of Sep. I'm moving to a cheaper place and it takes a week to set up the internet. I had an apt all set up for Rhonda and she told me she needs to give her group home a month's notice, tough break. It was a good deal too, hopefully I will find another one for her next mo. I need to find a way to make another $500 a mo and downsize but there's plenty of 2 bedrooms for $800. I'll have to ask the landlord if I can stay an extra mo which I already had to pay to get in here but I have to break the lease too. I'll probably still be in the hole by $100 a mo but at least I'll be dating. Rhonda and I had all these plans, including getting married last xmas, it broke my heart that we didn't. Well, I'm going back to work. Dave


On Sunday, June 23, 2013 at 2:09pm, David wrote:

You must be getting sick of me, I've given you messages galore this weekend, just remember when I sign it your friend it's because I really do consider you a friend. I forgot to tell you, the other one I'm stuck on is AbbVie. I got it on the spinoff but I've never studied it, that's another one I need to work on. Let's see, I've got consumer coming up, volume's going to be light this q. Traditionally, I've started each new quarter with tech. I was thinking this time I may just continue the current cycle when the new quarter starts but just skip to Q2. That way I've got a good chance to get to everything next quarter. Oh yeah, and I'm calling DCF this week to look into group homes down here for Rhonda, we could be together again as soon as July1. I've been slumping in the sleep dept, this week, didn't get any sleep last nt either but I have a feeling my life is about to get a lot better.


On Sunday, June 23, 2013 at 1:52pm, David wrote:

hey Becky, Turns out I'm not the only one writing to you this weekend, I was just reading online that some honcho sent you an email wanting to discuss the Fed, hopefully you actually resp9onded to him. You should read my letter, I quoted you in it. I was saying how you said a signal that qe3 would be ending is really a signal that qe infinity is over. That was kind of a key piece because by this the Fed is signaling that it wants to dial back all stimulus or atleast begin to and that's what mkts are discounting, since the stock mkt siscounts the future. It's definitely a first step back toward Fed normalcy. Hey, guess what, $600 a mo just landed in my hand. There was this guy that came by wanting to rent one of my rooms for $600 a mo. He's black but his money's green, at least hopefully. He said $150 a week. That's a load off because my rent is now $750. I asked him to pay half of all expenses which would be $800 but he said he couldn't afford it. I don't know, it's hard for me to say no but see he's taking the smaller room for one thing and $600 a mo is a lot better than nothing. I guess the only other thing I could have done is put an ad in the paper and wait for someone to come along with $800., You know there's still the matter of about $300 in bills so my total living expenses are still running at around a grand. I could plug that if my dad gives me $500 for working on the letter then I'd be breaking even or have a surplus. You know I shouldn't say I haven't gotten anything for my work either, my dad gave me a car and all I have to do is put gas in it. You know what would be nice Becky, is if I could start making $500 a mo on a consistent basis in the mkt. I'm probablyh asking too much though, based on what I have left, that works out to 20%. But I'm so happy I'm going to be subletting now as it will save me from having to continue to liquidate positions. I'm seeing more opportunities so I'll just set that as a goal, to make 20% in the mkt. I have trades I want to do this week. I'm going to buy Oxy and Constellaation Brands, just haven't figured out what I want to sell. I could cut losses on the homebuilders but I fail to see the negativity there. Bernanke said he was leaving the mortgage program intact but you know what, yields on mortgage bonds have crept up anyway, by 1% I was reading, meaning home ownership affordabiltiy just dropped 10%. The bulls will argue that housig starts just reported were up 27% and existing home sales have climbed to the highest since 2009. I'd love your take on what I just said because I'm really confused on the homebuilders. Oh well, I'll rsch them before I make any moves. He just came back and gave me $150 just like that, moves in next Sat. You don't know how much this takes off the burden, I'M HAPPY111


On Saturday, June 22, 2013 at 6:58pm, David wrote:

Becky, Forget what I said earlier about being in a bind financially, I was just telling Rhonda about the wonderful futures we have to look forward to. You know when my dad dies, it's going to tear me apart but see that's when things get easier for she and I. I figure this apt I live in, it's not a house but I'm comfortable here. In fact I'm sure together we could live at least a somewhat comfortable lifestyle for 26k a yr. Now you look at the account, sure it's dipped now all the way to 600k even but you can make 5% a yr in fixed income. There's the 30k you need to live, the 600 remains intact. The more I master my trade, the more opportunities I have to make more but 30k is a pretty good margin of safety. I mean sure, I've seen the other side, at the last group home I was at there was this guy, my heart went out to him, the group leader had taken all his money and food stamps, he was sitting there with a wallet with nothing in it. You may have a bachelor's degree but stuff like that scares me, you know? I was going through my life there thinking I'd never get out, seeing the car about once a week with my dad's aide driving it, you know? But things have gotten better and I'd rather be on my own like this trying to make it than the rather sheltered lifestyle I had before. I mean, flip side of the coin, who wants to overboard either? When we first came down here, S Fl is a bug infestered sauna but when we first moved down here my dad spent 40 grand on his place that now we don't even know if we can get back, you know excessive. I'm not going to put anything in this place, nor do I have to, it's owned by someone else. The most I'll do when I get around to it, there aren't any rungs on any of the floors I may take the rug that's in the bathroom and put in the living room. But to say I'm worried, no I don't think you can really say that. I mean after he blew that money my dad's strategy became listening to Joe, who told me he didn't even consider our account a growth portolio yesterday by the way, getting into ultrasafe investments to cover his lifestyle and keeping the 600k although it was more back then, intact. No9w when I say he said that, it's not like I'm saying he's not trying, my dad told him to manage it that way. But you know and I know you're ocompensated on Wall Street by the risk you take and someone like me who has spent all kinds of time learning the mkt why not take on a little risk? Best part of all, we own that condo outright, meaning no mattter what happens a fairly comfortable lifestyle can be had for around 30k, I could actually leave a legacy although I don't plan on ever having kids, I'm 49 and Rhonda's 57. Sometimes Beck, I think if I was running it I could turn it into a mil someday. But under my special needs trust, Joe remains in charge even after my dad's passing. Now in my earlier message I may have sounded worried, my soc sec ck makes me feel dirt poor and I've got $1350 in rent to pay. You know when I saw we were down 12k the other day I started to cry but when I told my dad he just shrugged it off, saying you haven't lost until you've sold. I mean I worry I'll have a bit of a cash squeeze coming in a couple of yrs but it's possible as long as I inherit before then I could make 10% off the stuff I'm studying. Well you know the pros say you should expect 6-8% over time in equities. At any rate I've got much work to do with Joe both now and after he goes. I don't know, I'm a worry wort Becky, I've got a nervous problem you wouldn't believe, keeps me up at night sometimes. I'm obsessed with money but isn't everyone who works for or contributes to CNBC, I mean we're supposed to be. I think I could do better than Joe if it were left to me but I'm not really in danger of running out of money. Heck, if I could get 10% a yr I'd have more money than I'd know what to do with. Dave


On Saturday, June 22, 2013 at 8:48am, David wrote:

You know I was thinking, usually when I write to you I have a tendency to go overboard, I'll try to keep this short and sweet. I'm looking at apts down here for Rhonda but then I thought, what if she has to furnish the place, she can't afford that and needs more help anyway, why not look into group homes? She's been attending AA and that could continue while I'd at long last be able to see her again, possibly even on a daily basis. My rent remains high and I did get an email form McD saying if they were going to hire me they'd be in touch. But I spend more than 40 hrs a week trying to keep up with the WSJ, Dow Theory Forecasts, stock rsch six days a week and writing the letter, why let myself be ousted from my own business? Would I even have 20 hrs a week for McD? Then I thought, I don't really want the job anyway, why not try to get something out of my dad for my efforts on the letter. Like I say, his recommendations have come from Joe so this week I took a look at what he had in there and noticed right off the bat he had made at least 2 errors, holding munis and gold. I mean not that I'm perfect, I've held the homebuilders and have failed to put adequate capital behind winning trades. I would not be able to advise my dad on some of the stuff Joe has bought for him because I don't understand them but I intend to express my negative views on munis in this week's letter. You know $2.2 billion was taken out of muni mutual funds and ETFs last week, the biggest decline since Dec, it means even the safe stuff is getting hurt. We lost 12k last week. I'm going to tell him about his losses today then sometime before I pay my rent next Fri I'm going to ask him for the $600 a mo I would have made at McD. I'll stress the detailed rsch I've provided and how hard I've been working to keep up with everything, quit frankly it's been taxing on the eyes. I'm already wearing glasses and my eyesight is deteriorating. I don't know, before I moved here I didn't have fncl problems but I can't see making that rent payment without at least getting something for my efforts. Your friend, Dave


On Monday, June 17, 2013 at 5:28pm, David wrote:

hey Becky, I don't know why I didn't leave you a message this weekend like I usually do, guess it's because you don't write back.It's tough to write to someone who doesn't write back,especially the way I've sent you gifts and everything, I've gone to the ends of the earth to try to be friends with you but it seems like you're not interested. Then I thought, well at least she listens. I've been making plans to get Rhonda back in S fl. I got the Sun Sentinel, our paper down here and I was looking through, I found an apt she can share for $500 and gave her the number. Today I called her and told her how depressed I was that we're not still together, with her up in Tampa and everything. I feel like it's my fault, because back in Jan when we were both off our medicine and much sicker I left the apt we were living in together, now I'll be lucky if I can even get her back, oh I miss her so much, like I was telling you in my last message. I've also been trying to get a job. While I enjoy writing Streetview and sending it to you guys every week, I need something I can earn money at so I applied online at WalMart and McDonald's. If I don't hear anything I'm going to try BK, Dunkin Donuts, but it's been like 10 yrs since I worked full time at my dad's practice so that may hurt me. Well see my dad has so much money I thought I would never have to really work again, just do stock rsch and stuff, you know make sure he has the letter every week so I can help him manage his money. Then I was living at home saving my soc sec ck, you know, so I compiled quite a bit of money. That part you must keep secret though, it's illegal for me to have more than 2k. Well I'll eventually inherit my dad's money which is legal because it's sheltered under a special needs trust. I mean I don't even know what the point is in giving him the letter, he doesn't heed any of the advice, he always does what Joe wants him to do. But it was different because I had my own money so I put that in the mkt and started managing it, now with this $1350 in rent I'm running out so I need at least a part time job. I'm scared Becky, I keep liquidating positions left and right, I'm all the way down to 27k. I'm spending at least a grand a mo I'm not making. And Rhonda can't come here to help out because my dad has forbidden it, he said I would lose the car. You know the place I was living with her before wasn't very nice, I mean we were the only whites. I'm not saying I don't like colored people, well I'm a little racist. It's just, I don't know, a tough situation. I was thinking of moving, you know if I get a job and she comes back it's possible we could get something a little nicer in the $900 range, you know independent of my dad. But then would I even get my sec deposit back, I mean I'm not the best of housekeepers, the landlord may think I've destroyed the place or something and not give it back. I mean I've got enough of a cushion, if I was overspending by $300 a mo or something I could see it because I'd inherit my dad's money way before I run out you know? Lately I've been thinking of finding a way to get enough independence from my dad where I had a car, could live with Rhonda and still keep from getting written out of the will. You know he really disapproves of Rhonda. Sorry this messsage has been so long, I've just got a lot on my mind. I just hope there's a way, to get her back because i really think we're soulmates. Dave


On Wednesday, June 12, 2013 at 11:29am, David wrote:

Becky, I just had one more point, hope you don't mind. You know how they say the mkt is a discounting mechanism, in other words it discounts the future? Well, could it be possible what we've seen could be a result of the mkt taking into account a complete withdrwawal of accomodative policy? I know you guys have raised this issue before. More clarity from the Fed would help. Remember last time Bernanke said they would start to taper in the next few meetings, then the FOMC minutes made it seem like the tapering was imminent, possibly even this month? Maybe we'll get more clarity next week when they meet. See ya, Dave


On Wednesday, June 12, 2013 at 10:35am, David wrote:

hey Becky, How's Vegas, wish I was traveling like that. Anyway, just wanted to give you a midweek message to tell you how my week is going back here in boring s Fl. Rhonda had to move because she was bringing everyone down in her grouphome. Remember how I told you all she does is sleep and smoke? Well, she had to find a new place because it was making her grouphome, which is probably a very depressed place to begin with even more depressing. I'm already to write tomorrow's letter. I've got 2 stories lined up, the cybersecurity story about the NSA and that guy Snowden. I didn't know too much about it so I highlighted some things out of the Journal. I'm not going to copy the Journal direct, mind you, but if I need help or forget something I'll have it. Everything Obama does is being backed by Congress and the judicial system so I guess we need to compromise between security and privacy. Larry Kudlow said he was a traitor though, did you see the other nt when Meredith was on. I don't usually watch Kudlow but she's my favorite analyst, supersmart. I was thinking of getting her book, Fate of the States so I can really ck out her work, probably very interesting. She said something I didn't understand, though. See, the PCE deflator is only one percent but she's for a tapering because she fears future inflation. She said the only reason we don't have it now is that it hasn't hit wages yet. But if things like the PCE deflator or cpi are showing tame inflation, aren't they measures of spending so wouldn't they be higher if prices were higher despite what's going on in wages. Because Kudlow said we didn't have inflation so he took the other side of the argument. You would probably know, I don't pretend to be as smart as you anyway. I've got 3 stocks too. I hope I don't hit any more buys today because that would just make the letter longer. Last week it was so long my dad didn't even want to read it all. I just had Peabody Energy, but they kept talking about cost containment, turnarounds, and deleveraging. But they said that with the price of nat gas more than doubling YOY there would be more demand for the coal they sell. They cited stockpile drawdowns in places like the Powder River and Illinois basins and how things would be returning to normal later in the yr. They said they could recover up to 75% of lost US demand. But analysts don't believe in the story yet, they've set their estimates at only .10 EPS for the entire yr and the stock sells at $19, that's 190X earnings so I slapped a sell rating on it. I was just going through their earnings release for about an hour and a quarter. Well, you know how rsch is, one detail looks important and then that leads to another detail and before you know it, you've got 2 full pages of notes. I know you work mostly on the macro side but you must have had to rsch stocks when you were at the Journal, huh? I've decided instead of copying all the notes and putting everyone to sleep, I'm going to go through it and just put down the most important things. I have one stock, the analyst I read thinks it can go up 56% this yr so I'm putting it in the top ten. You know what I don't understand is when they start talking about discounting. I was reading one analyst and he had a weak, medium and strong outlook on a stock all based on discount factors. I don't understand that stuff so I always do straight P/E projections. What do you think of all the emerging mkt currencies selling off on the mere hint of a Fed pullback? I made a good point the other day when I was talking to you, if the Fed just hints that it's going to pull back and the mkts take it this hard what will happen when it has to sell all those securities it's been buying over the last 5 yrs? I heard you say how Greenspan was saying at any time the credit markets could force the Fed's hand, that it's not qe infinity, you know with the bond vigilantes and all. What do we have now, 3,4 trillion on the Fed's balance sheet? It's smaller as a percentage of GDP than it is in Europe, but you've got to wonder if they're overextending themselves. I mean do they really have an exit strategy, because Carlos Slim said they didn't. It sounds like a great deal of moral hazard, to be monetizing the debt as long as we have. I don't know, I could go on and give you my outlook on fiscal policy too but I've got to get back to my rsch. Enjoy Vegas, maybe you can read this between naps on the flight home. Your friend, Dave


On Sunday, June 9, 2013 at 11:16am, David wrote:

hey Becky, Today is father's day, doing anything special with your dad? I was supposed to take mine to Beal's. Have you ever heard of Beall's, they're a clothing store but I think they're just down here. Well, anyway, I was going to take him there and get him something but I called and there was no answer. How's the weather up in Jersey, now? Are you warming up into the 80's, that's what it is down here. We haven't warmed to our top summer temps yet, usually it's 90's everyday through July and Aug. I was actually jealous of you guys this winter when they showed you going outside dressed in winter jackets. I know, it sounds silly but when it's summer all the time it gets boring, I'd like to see a litle snow, feel the extreme cool air again. I haven't seen snow in nearly a decade ever since we came down here. I'm doing the laundry today. Last time I did it, my clothes ended up with spots all over them because I accidentally put a dark in with the whites. Enough small talk, what did you think of the jobs report? We got 175,000, 6,000 above estimates but the rate ticked higher from 7.5 to 7.6 because more people entered the workforce. The whisper number was more like 140,000 with ADP coming in lower. But if it was above 200,000 you would wonder if good news was bad news since it would have made it more likely the Fed would pull back. I heard that debate you guys were having about good news being bad news. You said we'd either get bad news or good news that meant bad news but you weren't looking for much in the middle, bet you were surprised when we rallied 200 points? I mean, even if the Fed does pull back they'll do it carefully and they'll do it because in their judgment, the economy is strong enough to stand on its own. But there will be withdrawal symptoms, like a drug addict coming off a drug, like Greenspan said the Fed's balance sheet is stuffed to excess. That means the credit markets could face oversupply issues when they do pull back, rates could climb. Did you hear what Mohamed El Erian said say about qe being a medicine that comes with a warning, don't use in excess. Now markets get spooked by the hint of it going away, you've got to wonder what will happen when they start selling all that stuff? Plus, I read in the Journal that the dollar has strenghtned just because they've hinted at a pullback and the once booming Asian bond markets have been losing inflows. I think we've used it in excess. But a healthy pullback in a bull mkt is a good thing and cheap stoks can be found in multitude. I found one, refiner Phillips 66, it's come a long way, still trades at just 8X earnings and analysts expect a 23% jump in earnings this yr. Some investors worry about the effect the compression of the WTI/Brent spread will have on refiners but PSX has been using unconventional inputs based on WTI and selling at Brent. This will improve their crack spread. Aren't you glad I come to you with all these stock ideas, too bad you can't buy any. You guys are only allowed to own GE and Comcast, huh? Well, see you Mon. Your friend, Dave


On Saturday, June 8, 2013 at 9:03am, David wrote:

hey Becky, Are you having a nice weekend? I'm not really, see Rhonda is in Tampa, 200 miles away and although I can talk to her on the phone, I don't know when I'm going to see her again. I told you my dad has forbidden me to see her because of her mental state. But it's not just her mental state that worries me, as I think she may be sick physically too. one of her roommates called me and said all she does is sleep and smoke. She told me she had all kinds of illnesses, like first stage polio and AIDS. But with her mental state, I wonder if it's for real or just more psychotic thinking, I don't know what to beleive, you know? She's only 57 and I really don't want to lose her. I've thought about going up there but I think my dad may get suspicious because he knows she's up there. I could tell him I'm going to Orlando and just make a day trip out of it but he still may get suspicious and if he catches me, he could ask for the car back and I would hate that. I don't know what I'm going to do, I feel like I'm having an affair but instead of hiding my secret relationship from another woman I have to hide it from my dad. I was going to try to get her into the grouphome I was living in before, at least that way she'd be down here and I could see her. I think the rent would be like $600, she doesn't have a car and gets foodstamps so it would be affordable to her. I don't know, I should probably look for someone else but we've been together so long and I really do love her. There was this other woman, Maria that was interested in me when I thouht I lost Rhonda's number but then Rhonda called and I stopped calling her. Still, there's something about Rhonda, I'd like to marry her someday. But then, her health is a big issue. I left my old grouphome and walked 9 miles to try to see her again. I didn't make it though, the group leader caught up with me halfway. I would have had to walk the entire distance of the county to see her though, because I was in Pompano which is northern Broward and she was still back there by Broward Blvd, southern Broward, it would have been 20 miles but I thought at the time she was worth it, you know? Then she had to go to the hospital, but in Tampa where her sister lives. I suggested she stay in S Fl but her sister is her guardian. If I couls juar find her a place down here, then I could see her again and if I can still keep it a secret from my dad I wouldn't lose the car. I just called her, here it is noon time, she was still asleep and I have to be very careful, I told her not to call after 1 because I'm going to be with my dad. I don't want to lose my dad either, but after he dies I can do whatever I want. We could get married, I told her I'd take her to Paris, not to mention the money I'd be inheriting. But that sounds selfish on my part because I love my dad too. I really miss Rhonda though. Thanks for listening, Dave


On Sunday, June 2, 2013 at 11:11am, David wrote:

hey Becky, I sure must have sounded depressed Fri, well just because it's frustrating, seems I can't find a job in my field. Anyway, today I'm feeling better, I'm talking to Rhonda. She's living up in Tampa now though so It's hard to see her unless I sneek away. Dad has forbidden me to have anything to do with her, since she's so pysychotic and all, love her anyway. Oh, she's back on her medicince so maybe that will help with her psychotic thinking. I was glad to hear that, that she's back on her medicine I mean. Anyway, dad, yeah I call him dad to you, he's not your dad, he's old enough to be your dad though. How's your dad doing, I think you mentioned him on the show once. You were on the road and said your dad was watching Kyle. But anyway, dad was threatening to take the car away but I don't think he's up to driving, being barely able to walk and all. Then today he just called and said I could keep it at my house as long as I pick him up for dialysis and doctors. Sometimes I have scheduling difficulties, because I'm busy working, see I read the Journal for an hr and then do, well it's supposed to be 6 hrs of stock rsch a day. I wouldn't have a problem with that if I could get an early jump on the morning. But I get up and watch you guys, I must confess sometimes it puts me to sleep, then I dilly dally and I don't get to the Journal until 10. I've got to work on getting a better start, get to the Journal by 8, then I can start my rsch at 9 and be off by 3, because even if I don't get off exactly at 3 I'll have no problem going to doctors and still getting my work done. Last nt, for example, I was working until 9:30 on Agilent Tech. I got some rsch on it form Yahoo Finance but it was very complicated from a technology standpoint, if I presented it, it would have seemed like I was bsing you because I didn't understand it myself. It was something about its repeater model library, retimes whatever they are. But it seemed revolutionary because they were talking about how computers have cecome so much faster these days in a multigigabit world then they were like rising and falling edges degrad after traveling only a few inches on production board materials like Fr4. In digital applications, it is cost prohibitive to use high-frequency laminate bound materials to solve the problem. And they were saying their new retimer, whatever, that is, solves the problem. But since I didn't understand any of that it makes no sense to recommend it as a catalyst. The stock didn't score well enough anyway. That's a compicated co. Nvidia is complicated too, they do graphics but I can never understand what they're talking about. I don't know, to me, Yahoo Finance needs to say it in english if they want people to understand why they should but the stocks, you know? I like retail, not as hard as tech. You just have to understand same store sales, inventories, price/mix stuff like that you know? I can see why tech analysts make the most, it's the hardest industry to understand. Especially if they get on key IPOs, like Friday's guest Jack Grubman, they were saying he made ten million in his prime. But he got banned from the industry for producing misleading rsch. Did you hear what he said, about how today's rsch is independent but you still have expert networks. You take an IPO like Facebook, I mean the rsch wasn't misleading but thry only gave it to priveledged clients. Well was it misleading rsch Grubman was suspended for or was it ourright insider trading, I didn't get that part. I found him difficult to understand, all that stuff about networks he was explaining and technology, definitely smarter than we are. Do you ever get guests you can't understand because I know you've made your share of bloopers too, like the time you didn't know what AGI was, I know I still heckle you over that. You're very smart, though, sometimes you say things I don't understand, like Fed policy, you seem to be very good at that, then again you're a poli sci major why wouldn't you be? You know who's difficult to understand, Rick Santelli, did you ever try to understand that Santelli exchange they do, I always get lost. Anyway, I've got to go back to work. I'm doing a stock screen for next week's letter. I want to see if I can find cos with good dividends and low payout ratios. I'll explain more Thurs. Your frind, Dave p.s. I think EA has a good chance of making it this week, earnings estimates are forecast up over 40%


On Friday, May 31, 2013 at 4:15am, David wrote:

hey Bcky, I know I'm breaking my rule about not writing to you the day after the letter and you're on the air right now. I don't know, woke up early and you were on my mind, maybe you'll read this at 9. What did you think of my letter, or did you read it yet? I think you're going to like it. I was very proud of it, the flow was correct, the stories complete. I felt bad though because Kayla townshea did a better job reporting on the Facebook story than I did. Well, see all I said was that investors had to wait for hours to find out if their trades had been confirmed which everyone already knew. She said how the CEO of Nasdaq, and I think she even named him, said any company would have struggled that day because the problems were unprecedented. I meant to say that, I don't know to me it was just better reporting. Who is the CEO of Nasdaq anyway, Bob Griefeld right? Well, what are you going to do, she's drafted. I think they should make room for her on a show on a regular basis. You were like that when you first started too, huh, a field reporter I mean. Then you got your big break on Squawk. I think Kayla is smart but maybe not as smart as Kelly Evans. I'm glad they moved her to the states, now you don't have to get up in the middle of the night to see her. I think she's at least as smart as you, she could probably be on any show she wanted. See, I think I'm smart enough to write for CNBC. Well, I know I do write for CNBC, but I mean to be paid for it. It's not like I'm asking to go in front of the camera, I don't think I could do that anyway, but just to be in the background writing. I enjoy writing, you must too considering you were on the Journal's retial beat for 7 yrs. I haven't got 7 yrs yet, this is my fifth yr. But still, I don't see how you could have gotten that far ahead of me. I was in tax/bookkeeping for like 20 yrs before I took up analyst/journalism. We're both the same age, I guess you could say we've both been in the business all our lives. Yeah, then I listen to you and I'm like, yeah right, she's way ahead of me. I would be more well rounded if I had college like you. Joe challenges you intellectually and you pass every time. You know what impresses me about you, all the people you know. Do you know the names of all the Fed presidents? I don't. Well, I know the major ones, Lacker, Fisher, Bullard because he's been on the show so much. But you really blend in so well on Squawk. I suppose I would know all those people if I were around them like you. Don't get me wrong, I'm not jealous, just respectful. Well, you know how I am on the Bible, I don't read it but I go to church every week like you. Emvy is a sin. Oh, I could say look at her, she gets to travel to Omaha and knows Warren Buffett and they won't even let me join the news desk as a writer. Then what, cry? You can't lose the faith though. To me, you knew what you wanted in journalism and went and got it, I'll never take that away from you Becky. Your friend, Dave


On Sunday, May 26, 2013 at 4:39am, David wrote:

hey Becky, I'm so happy today. Well, you remember how I told you I needed an eye operation in order to drive, right? Well, my dad's aide likes to take weekends off so yesterday I took him to church. It was the lesser of 2 evils I guess, he was in no shape to drive coming out of a wheelchair. But here's the thing, he thought I did such a good job driving he's agreed to give me back the keys. This still doesn't mean I'm going to be traveleing the country anytime soon like you do, but it sure makes getting around S. Fl. a lot easier. The only thing is I'm going to have to start putting $50 a week into the tank which is going to add to expenses. I've been doing bad on that front lately. Well, you remember I told you I had 35k, make it 31, had to pay 4k to get into this place. Then there's the furniture so I know my credit card bill is going to be high, $1350 in rent due next week, not to mention the power, cable and internet. After all that, think I'm looking at about 28k. See, my problem is getting a job. I can't get a real job in my field, my broker says you need an MBA from a top 50 school to become an analyst at Merrill. I'm not selling a single newsletter and I don't want to go begging at BK. If worse comes to worse, I'll ask my dad for an extra $600 a month. See, Eddie, my dad's aide was the one that suggested I move here. Everything this side or route 1 (the beach side) is nice and everything west is a ghetto he said. There were apts on the west side I could have had for $850. That was a real bad area where I was living with Rhonda though, down by Broward Blvd but at least it was affordable. Who needs 2 bathrooms anyway, you know? Going to any cookouts today or tomorrow, happy Memorial Day. You know it's one thing to brag, oh my dad has over 600k, but all that's coming in is that $700 a mo soc sec ck. And it's not like I'm not working, I work very hard but on my own thing, you know, stock rsch. I even work Sat, just won't pay the bills. I've got to do something before my whole portfolio is gone.


On Saturday, May 25, 2013 at 6:20am, David wrote:

Good morning Becky, Can I ask you a question? Would you write back to me if it weren't for Comcast's rule about not communicating with fans? See, this is the thing, Rhonda keeps accusing me of stalking you. But I tell her, no, Becky and I are friends and we go back quite aways. Then she asked why you never write back and I told her it's because you're contractually obligated not to and they take the rule very seriously. But then I said, it sure would be nice to meet her someday. But if I never hear from you, I don't know if you like me or not or would even want to meet. I mean I know you must like me a little, you post almost every message I send you. But then you go away for awhile I guess, must be busy on Twitter. I'm going on there this weekend if I have time. I think you know me by now, I've sent you cards and gifts and all I want to do is be your friend, not hurt you. Watch, one of these days you're going to pull up to work and I'm going to be sitting next to you, or would that be stalking? We have a very one way internet relationship and it's been that way for 3 yrs. If we did meet I would just want an autograph and then we could either become seeing friends or I would go away if you said to, but depressed. But like I say, where I never hear from you, you're a difficult one to figure out. You must know I like more than your brain at this point, I mean who do you think I'd rather go out with psycho lady or you? But at the same time, I do respect that you're married to Matt and so maybe if we did meet I would settle for just a hug and a peck on the cheek. That institution of marriage is very sacred and I'm not the kind of guy that would try to come between it, you know? How are your kids doing, Kyle looked so cute the day you had him on. Oh yeah, I understood what you were saying yesterday, that you didn't like the idea that QE was indexed to targets like the 6 1/2% unemployment rate. Your thinking must have been that you were afraid it would cause inflation but it hasn't. Have you ever read FDR's Folly by Jim Powell? I don't remember all of it but the Fed kept raising interest rates and they caused a contraction in the money supply that led to the Depression. See, back in those days the Fed was new and they didn't realize how it took the market awhile to adjust to Fed moves. So without giving things a chance to settle, they raised interest rates again. It caused massive deflation, which is more likely to lead to recession than inflation. Then the govt got overburdensome and wouldn't let the private sector function. For example, price ontrols were set by Roosevelt and all the people that were hurting and didn't have jobs couldn't afford to pay the high prices. See, he thought, since it was the time of Marxism, that if someone in the private sector became rich he was involved in monopoly but the truth of the matter was that all the monopolies were public sector monopolies. But it all started with bad Fed moves. You know, yesterday, I was working on AMD and Intel. Amd is a more formidable compeititor. I was looking at Yahoo Finance and they were using abbreviations like SKU and APU, you're probably tech savvy enough to know what they mean but the jist of the article was that Thurs AMD introduced 2 new chips, Richland and Kabini/Temash that Intel supposedly can't match by power or price point. But have you looked at AMD, a sea of red ink. But Intel pays a nice dividend which is just what the mkt is craving. I say Intel goes higher. Then I've got Qualcomm with a 22% expected increase in earnings this year. OH yeah, now that I look at it, I forgot to project price targets on Qualcomm. I gave it a 78. Let's see, start with margins, Qcom has a 50% operating margin, 30% free cash flow margin, reasonable debt levels by most measures and pays a 1 1/2% dividend. So projecting multiple expansion, take it from 14 to 16, price target becomes $73, 12% growth. No, let's try 18, price target $82, 26% growth. Then in 2014 things are expected to slow, 8% growth to $4.91. Apply 19X to get $93, 13% growth. This one has all the ingredients for the top ten. Wish I was a real analyst, the price would already be moving up, Streetview upgrades Qualcomm to buy lol. Well, have a nice Memorial Day. Dave


On Tuesday, May 21, 2013 at 12:39pm, David wrote:

Oh yeah, I forgot to tell you the status update on dad. He was in the hospital for awhile. Then he went to a rehab place. He kept falling (8 times) because he wouln't listen to his aide when he told him to keep seated and be careful. See, he needs a wheelchair but he's getting better. He got out yesterday. He started dialysis too. Right now, I'm trying to figure out how to cook hamburgers, don't know the first thing about cooking in my new place heee. I'll probably end up going to McDonald's. Does Matt know anything about cooking, most men don't. Unfortunately, I was brought up thinking it was women's work ( no offense). Then when Rhonda was aroung, we used to try to make her do i6t, and the laundry. Now I have to do my own laundry. I'm a little scared, see I have a pretty nice place (2 and 2) but it's $1350. Plus I have to pay lights and cable. I have around 35k in my own part of our bank account. I'm afraid I'm going to blow tbrough it. That's why I tried to get food to cook at home because I get food stamps. But you can't pay $1350 on $700 a mo for long, you know? I'm going to have to call soc sec one of these days and tell them my address has changed. I think you have one mo to tell them. I want to play it straight because I heard of a program that pays 80% of your rent for you if you're on soc sec. That would help a lot. You know I found out when I inherit my dad's money, it's set up as a special needs trust. That means there will still be a broker running everything but I'll get an allowance. That's too bad, I guess it will be mine but with strings attached. If I get married, I've got to get the woman to sign a prenup you know? Pleasure talking to you today Becky.


On Tuesday, May 21, 2013 at 12:11pm, David wrote:

Guess who called me out of the blue last nt, Rhonda. Remember, I thought she changed her number on me. I had it programmed wrong. So I was talking to her, she's out of the hospital living in a group home now like I was. She's still having her psychotic thoughts though. I don't know if I told you how bad it got? See, she hadn't talken her pills since Oct. She, now this is just between you and I, don't post this. She thought she saw a severed hand in the barrel and that she had been shot by a gun but it didn't have any effect on her, just that she was retaining the bullets. She told my dad that and he insisted we break up, but we still communicate secretly. But this is the thing Becky, she still believes those things happened. So they weren't able to do anything about her psychotic thinking. And then, I can't drive. My dad won't let me drive until I have an operation to open my eyes wider. After I do though, I'm planning to go to Tampa secretly to see her, take her to Busch Gardens. She's up there now. It's nice to talk to her but I don't know when I'm going to see her. As far as marriage, my dad told me to wait until after he's dead. I promised her I'd take her to Paris for our honeymoon, I'm going to inherit a lot of money after all. What do you think, because it sounds like I'm chasing a woman a little off her rocker doesn't it? I love her though.


On Monday, May 20, 2013 at 2:55pm, Richard wrote:

Becky is married to the producer of Squakbox. That is why the "voice" always teases her in the am


On Monday, May 20, 2013 at 2:53pm, Richard wrote:

I agree with the Chilean guy at the gym who looks at the tv every morning and in a Ricky Ricardo accent says "Becky I luv you" I could agree more. "Becky I love you too" as I drool doing squats & deadlifts looking at you on the tv


On Saturday, May 18, 2013 at 9:28am, David wrote:

hey Becky, What did you think of my letter this week? I send it to CNBC membership services for you and Jim. I guess that makes me a member, even if not a drafted one. Anywat, I regrettted I didn't go more into Jamie Dimon's legacy when I talked about him, I could have mentioned he managed the best bank to make it through the crisis with profits every quarter. I could have mentioned the proxy advisory firms ISS and Glass Lewis recommending the roles be separated. This week I'm following up on the IRS story, but with notes so it should be better. I'm not the only one who makes mistakes. Do you use Yahoo Finance? Cramer is quoted on there all the time. He said, about Adobe, that its strengths were margins, cash flow generation and reasonable debt levels but i6 can't grow its earnings. How do you expect multiples to expand without earnings growth? I mean what good are margins and the other stuff if the co can't grow its earnings? My broker always says, it all comes back to earnings. Then I noticed in another place he sqid a co had reasonable debt levels and I was looking, debt ratio was 7, assets to capital was in the high twos and current and quick were nothing to write home about. I know he doesn't actually write that stuff but i think some of his staff has it wrong. I like JCI because according to what analysts are expecting, 46% growth in earnings this y5, 20% next, you don't even need multiple expansion. If multiples just hold constant, you will have a 20% gainer. Add this to the fact the co is making inroads to lithium ion batteries and plans to increase energy capacity in bldgs which right now is only 40%, and they've already established a track record in China and there's 3 reasons right there to buy the stock. I found some of the fncl strength things to be weak, negative cash flow, low margins but I read a bunch of articles on it. Did you know the president is planning on putting in $200 million to make bldgs less pollutive, to control global warming you know, JCI should be a definite player. But the aarticle cautioned you better be early because the field is competitive. As of now, waiting for a pullback as JCI is at a 52 week high. Dave


On Sunday, May 12, 2013 at 9:13am, David wrote:

hey Becky, Bet you were wondering what happened to me. I ended up having a big fight with the leader of the groyp home I was staying at so I ran away. She caught up with me after I had walked 9 miles and I had to spend 5 days in the hospital. After that, I went to another group home wher I coulnn't use the computer but had a lighter environment. I saw Rhonda and had her number back for a few days until she changed it again. She had to be institutionalized too over in Tampa. I have another one, Maria, calling me telling me she wants to go out and do something. Now I have a nice apt but I'm living by myself. I saw you on tv but missed writing to you. I just got my internet set up but obviously I'm way behind in my work. I'm going to start sending you guys investment letters again starting Thurs. I've been keeping yp with the Journal. The hardest part was having weeks where I had 3 stories ready to go, you know gfor "in the news" in Streetview but couldn't write them. So what's been going on, busine4ssswise I mean. You must have noticed we notched 15,000 just as Siegel predicted. Oh yeah, I was watching the day he was on. Icahn and Southeastern want to buy Dell for $12 a share saying after an equity stump was left it was superior to Michael Dell and Silver Lake's $13.65 privatization plan. I read that if Dell wins, Icahn is going to try to oust him at the board meeting. Did you read it, they were saying that Icahn wants to have the vote on the deal the same day as the board meeting. Icahn was on saying, "I know this is PC's but I've been known to buy out of favor cos and do quite well." Then Jamie Dimon may have his roles split and the Journal said if this happens he may leave. Hope you're doing good, 41 in 2 mos huh? I'm going to send you a card but I'll think twice befoer I send flowers again seeing how I never got my souvenir. Don't want to cvlose on a sour note, but I thought we had a deal. Oh yeah, I dropped and broke the coffee cup with your pic on it, too bad. Yeah, just looking at what's ahead, starting with tech, looks like Oracle, Analog Devices, Google, Apple. Have a good rest of the weekend, got to get to work. Dave


On Thursday, April 25, 2013 at 3:07pm, Dave wrote:

Becky, I watch CNBC all the time and have a great respect for the network and its people. I am an air traffic controller and wanted report to you what's going on. We are getting lambasted in the media for slowing down the system. Its simply not true. The system is operaring on fumes right now. Nobody told us to slow things down. There is no attempt by the employess to take there furlough days together. The effects of the furlough are much more far reaching than the current flight delays. All the new people that are in the training process have been told that the offsite training they receive is put on hold until further notice. No chance for them to become CPC (certified professional Controllers. The people that are eligible to retire are considering leaving if the sequester stays in place, because the money will be almost the same with the pay cut from the furlough. New equipment that was slowly being installed nationwide to make the system safer has been cancelled until further notice. I feel bad for the flying public, but we are just getting by at the current staffing levels. If we want the new people to advance, better equipment, and retention of an ever dwindling experienced workforce. We need to end this nonsense and move on. Maybe you or someone from the network could take a tour of one of the Major Air Traffic Control Facilities and see for yourself. Thanks for your time.


On Saturday, March 30, 2013 at 3:15pm, David wrote:

Becky, It's too bad we know each other online because if I lived up there where you live we could just meet up and tell them I'm your new friend or neighbor or something you know? I mean I'm sure your contract doesn't forbid you totally from having friendships with civies you know? I mean I'm more than a civie too, I read the Journal everyday, I've learned a lot. Someday I'm going to inherit all that money and turn it into millions you know? I still think you may interview me someday if you stay there long enough. I mean, well maybe not, Warren Buffett and Boone Pickens against this guy that just became a millionaire? Maybe not, but we'll certainly meet someday, even if I have to go there. I mean there's nothing to fear but fear itself, I know you'll talk to me. Maybe once I get up there, you can help me get a girlfriend. Truthfully, I didn't like being with Rhonda that much anyway, no ambition, slept all day. I want someone from up there, that wants to be in the action. Someone from the Journal like, around 40, maybe younger so our knowledge levels will be more compatible, because I mean you're 40 and well balanced. I can tell Rutgers did a good job with you because you're so well rounded. I'm all stock picking ability, but it's like all I really know. If chicks on Wall Street that are 40 are all as smart as you, I'm going need to go down in age, maybe 35, know anyone? A lot to look forward too, bringing my practice up there and all, at least I'll be financially stable. Your friend, Dave


On Saturday, March 30, 2013 at 3:04pm, David wrote:

hey Becky, Today was the big day, still no card from Becky. You know I'm not stalking you right, that we're still friends and everything right? I mean I've known you longer than I've known my last 2 girlfriends. You've seen me through my last 2 relationships you know? I mean sometimes it seems like you don't want to be friends anymore, but that's just because you're contractually obligated not to write back to fans. See, I know that, that's why it doesn't hurt anymore. I get too personal with you too at times you know? Well, I'll close for now, now that we're the aame age again. I'm afraid if I write too much it might not go through so I'll just send a second message ok


On Friday, March 29, 2013 at 10:22am, David wrote:

hey Becky, If you go to the last part of my letter you'll see we're about to become the same age. My birthday (40th) is Sat. This yr was a pretty tough one though, losing Rhonda and all. I'm trying to get over it, a bday card from you sure would be nice, would make my day in fact. I didn't want to really get into it when I sent my letter, you know because that's really my contribution to CNBC, try to make it as professional as possible. My dad got out of the nursing home and went home today so you know I'll see him tomorrow. I still call Cramer but not to get as personal as I do with you. Mostly, like today I was telling him how I'm up on all positions but one in my portfolio, you know mostly stocks and stuff like that. So do you have any last minute 40 advice for me? I just did a stock screen too, see it was about the PEG ratio which, I don't know if you're familiar with that one, P/E divided by next yr's growth rate. See. Cramer likes to buy only stocks that get PEGs below 2. He says don't buy at more than twice the growth rate. I was even more restrictive because I wanted to narrow down my list so I only took the ones under 1. I went way past my quota of 125 this quarter too, all the way to 131 and I'm still not done. I added the airlines as transports whereas I usually just do the rails. In fact, I had to hunt through the Journal for even more names. Looking forward to many more Squawk episodes as a 40 yr old, will probably keep up with you better now that we're going to be the same age (hopefully), well I know our vocabulary will never be the same and I'm sure yours wasn't much different 9 mos ago but vocab will never make you money lol Dave p.s. instead of keeping up with you my goal should just be to make money, going to be managing enough of it someday


On Tuesday, March 26, 2013 at 2:48pm, David wrote:

hey Becky, Feeling much better today, went to the nursing home and saw dad. He was feeling a little bit better. Getting ready for Thursday's letter, got a couple of ideas together, Eli Lilly and Walgreen and am studying the transports at present. Sorry I made your website the other day as my personal place to sob, feel bad for myself and get that personal with you. How's Jersey up there anyway, will the snow be melting soon. We used to get it in April sometimes when I lived in NE. Dave


On Saturday, March 23, 2013 at 5:21am, David wrote:

Becky, Rhonda has changed her phone number on me. You know, remember how you blocked me on fb, I suppose that's one thing. But there's 2 yrs of my life walking out the door. It felt like a knife cutting right through my heart. It's difficult for me to talk about it. See, I wanted to take her up to Wall Street. I mean here's a woman without our education who is 57 yrs old and has spent her entire life at BK and WalMart. I was trying to make her you but she has lived her life and never made it, I must have seemed too young spirited to her. She didn't have a life to start over, which thanks to my dad's money I do. She just wanted to stay down here and sleep. You know she was off her medicine for four mos and had not been to the psychologist so you know she started this whole thing that has landed me up here. I couldn't understand what she was saying, one day she told me that she had been to the hospital and lyed down on one of their beds off the unit. They actually asked her if she wanted to go on the unit and she said no. This is a day, I don't know, late Dec. I can't believe they actually gave her that choice. Usually when you haven't been on your meds, they don't give you that option. Now she's at that spt. with only $700 a mo coming in, and that's her rent. The only place she can go now is a shelter. My dad psid the last mn's rent so of course she's on the phone asking for this mo's too. He told her she belonged in a group home as her family has all rejected her. I don't know if she was any good for me, she really did encourage me not to take my medicine. This is really hard to talk about, I was balling like Niagara Falls when I first learned what she had done. She wasn't the right age to have kids by anyway. I don't think I'm going to look for anyone else until after my dad dies. He's in a nursing home right now. I know, double wammy. The tears aren't controllable and I feel them coming on now. You know, Rhonda was complaining of having diseases like breast cancer and onset polio, she may not be around very much longer either. I know, how's the basketball game right? I don't know Becky, very hard to talk about so I'm going into my own little world and not saying anything. All I'm doing is fogging up my glasses. Oh yeah, I'm working today. I've got 3 to go to get to 125 and that will be a quarter of the S&P. I question my ability to pick the industry leaders though as an index fund would have beaten the performance especially last yr (the S&P was up 12% last yr). You know I pick them with my scoring metrics but that is very subjective as you know. I want to get 12% a yr compounded, it's hard even for the index to get that. Throw reinvested dividends on top and that breaks down to what, say 15%? Then I go sell the condo, live in an apt paying about 24k to get by. I can take the 850, make about 100k off it and that's without compounding. Did I just confuse you. Good, you do enough of that to me on Squawk. Dave


On Thursday, March 21, 2013 at 3:05am, Amy wrote:

Your dress today is beautiful, perfect for my mother of the groom. Can you tell me where I can find it. Thanks


On Tuesday, March 19, 2013 at 8:52pm, gms wrote:

the morning show needs you keep up the good work ps how about this idea do more remote locations like you did with buffet in nebraska


On Tuesday, March 19, 2013 at 1:00pm, David wrote:

Becky, Be sure to read Streetview this week. There is a guy here who doesn't know currencies and he wouldn't even read the Journal's piece on the yen this morn. I was trying to tell him how Japan had a lost 20 yrs due to deflation, not inflation while he kept insisting Japan's prices were high. Sort of reminded me of Rhonda, remember she couldn't figure out what a currency manipulator was? Anyway, got a full slate this week, Cyprus, mkt sentiment, the sequestra, and I don't know how many stocks mostly from pharma. I just had a stock and I couldn't believe it scored an 81, BMY, Cramer fave. He still believes in it even though the P/E has gotten stretched (18X earnings). Well maybe not when you've got a 19% profit margin, St. Jude too for the same thing. I mean it would be profitable growth (If there was any growth). Earn ests expected to be down 7.5% in '13 and that was the whole reason I couldn't figure out why he liked it or why it came up an 81. But see, its a very strong co, 36% free cash flow margin, almost 4% div, you know on top of the margins. The co generated over 6bln in free cash flow. But that's not the best part, payout ratio was just 13%. Now they need to apply that to growing the bus. That's the one thing Becky, it all comes back to those down earn ests, well, going to say they were conservative anyway. But certainly 18X mult can't be justified by down ests no matter what the margins for long, so asy I'm piggybacking. Dave


On Sunday, March 17, 2013 at 9:14am, David wrote:

Becky, It seems the only messages you post are from me. That's why I told you not to post the one with all the typos, I must have a few fans now too, people logging in to see what I'm going to say to you next. As far as my eyes, yeah I need an operation. I have eyes that they have a lot of trouble examining because I'm so resistant. You wear contacts right, see mine are way too sensitive for that. Well, they want to do a couple of blood tests to determine if I need the operation first. If you look at my pic, which I expect to find on your mantle should we ever meet by the way, you see my eyes look barely open. This operation would widen them. Don't worry, its not like I'm about to go blind or something but would you guys want someone behind the camera that looks like he's on drugs? But don't worry, my tenth anniversary is June 25. Wow, so I haven't seen Rocky in over ten yrs. He was like my best friend at the time. See, he loved weed but had ambitions of becoming bigger, started selling acid and crack, things he wasn't even touching before. Wow, I can't believe I'm telling you this, an intellectual, now you're going to lose respect for me (well, you already know about Jan). Jan used to keep the courthouse busy. You know what her uncle told me, that if you ever get in trouble just diss court, they have to catch up with you on the street. Now with the lifestyle Jan was living, when was that likely to happen, tomorrow lol Listen to this, you could be talking to a billionaire and I'm telling you about drugs. Don't worry, I used to go to work and try to be an accountnat during the day, just had a double life at nt. Did you know I never gave Jan flowers, she wasn't that kind of woman. She was moer a prostitute who would want a bag of dope for a gift instead. But then I met you, a true lady who was so smart. Well, you're not the reason I gave up drugs, I did it yrs before I met you, prohably while you were still at the Journal. Then I remember when you were a field reporter, you know I think it was about 2002/3, the first time I heard your name. I had heard how good you were. I remember Fri's trivia, about Bear, you broke that story huh? Becky, the only problem I have with you is your absentessism. You took something like five travel days the last time when you went to Pebble Beach. What if you were a broker and had clients that needed something? Because our old broker in Boston was like that. And you know, we were looking for a broker when we came down here, my dad was like, oh, we're not using that guy. I'm not out as much as you these days, first I want to get to 125 cos, at like 110 now and second, I bill my hrs out and try to earn what's in the will. I hate to lose billables. Don't get me wrong, I miss the show sometimes but that's far from being the only thing I do. Well, enough about me lecturing you over missed days, you should be lecturing me over drugs and their dangers as with a few more brain cells, I could be occupying the chair next to you. Dave


On Saturday, March 16, 2013 at 8:51am, David wrote:

p.s. I was right when I compared Keynes to Roubini. Keynes said you could spend your way out of recession which we've done as the banks and homebuilders are doing well as their leverage now belongs to the govt/. Roubini was right in saying that the leverage is still there, I remember him saying distinctly in Crisis Economics tbe legerage would still he there or at least half of it and pointing out economists from the past who disagreed with Keynes. You know as much as I've watched Larry Kudlow's show, I still can't define supply side economics, bet you can huh? To me, its something that comes on after Crame, most of the time I don't watcj ot a;;. So I gpt tte idea right. I've been saying that for awhile though. We've taken the problems that caused the crisis and made them the govt's problem. sO i KNOW NOW WITH me its bus, what's on with Matt later, basketbsll? The Heat have won 20 in a row. You're a very smart, worthwhile friend


On Saturday, March 16, 2013 at 8:20am, David wrote:

I finally got through to Cramer but a;; they semt me back was a disclaimer saying he might not be ab;e to answer every one and how the opinions are his, not necessarily those of CNBC. So I guess I have to be careful and just talk about stovkd, unlike you where I can talk about anything. Speaking of things unrelated to stoks, I sure miss Rhonda, been cryin about it lately, well you know me, can't hold back tears. I wasn't serious that day I told you I wanted to be a woman. I'm just saying if a guy were gay wouldn't you have more respect for him if he went through with the pain of the operation instead of just staying a man? It's a little like tattoos, you respect the pain it took for the guy to get that. I'd imagine a woman as smart as you has never had a tattoo, I haven't either. I mean how could they present you on Squawk as a professional journalist if you were all tatted up, you know? See, it doesn't have to be bisomess Becky, could talk to you all day about anything, still think it was improper of you to take the flowers without returning your gift for me though. Hey, did you see my letter this week? Using the word Keynesniasm and comparing the thought correctly to Roubini. I did make 2 mistakes, I called Ally Financial Allied Bank and that thing involving Martha Stewart is a royalty dispute not over profits, so give it a B. Although I noticed when you called Kayla to the table yesterday morn and had your Squawk wrap, there's no way I could have made it, good AAA though. I call myself your colleague because I've got 4 yrs now, maybe I won't do it today. Your protege, Dave


On Saturday, March 9, 2013 at 6:20am, David wrote:

Necky. Didn't forget about you, just giving you a little tie to ahsorb my last Streetview letter. Gee, politics made it this week, huh? Did you see me lay it on Obama? I really am an independant though. See, there are some republioan ideas I don't agree with, such as austerity and entitlement cuts. Well, for one thing it was tried in Greece and a yr later they were begging for growth. i mean you take a person. it's not their fault they can't work. Now that we're not togethe anymoe, Rhonda's rent has become as much as her ck. And say the person does go to work, there will always be discrimination they will be up against. Most cos aren't willing to promote through the ranks someoe with a disabi;ity. See, I know this is the case because it happened to me at the supermarket. Then when I went to work for my dad, he was handing clients my work and I was doing a good job. I could do a decent job writiing for Squawk but family is family you know? All I'm saying is, it's not 30k like Joe makes it out to be and for some folks (Rhonda) they really can't work. Well, see you Beck. Your new colleague (protege), Dave


On Sunday, March 3, 2013 at 1:33pm, David wrote:

Beclu, I left communication eith you on twitter today on twitter becaise O was afraid of the typos that are affectng my eyees amd a; I think you just read so much, and I've 6told you abou6t some of the autho5rs I've reaed you just reacju a point wjere pi meed am eyew operation. It's just like baseball, the guy goes and get an mri and comes back stronger. I'm sure that's what it is. ,u dpinb;e vocsp wo;; ne a p[rrpbn;;e,. Well, you've noticed it in my writings to you. You know how you miss daqs sometimesd? Well, I can't do that or I jeopardizre gettinh to 125 cos. Hey, if I missa few , tjere's alwqaus tie to ce me bac' strpmger of tjat s wjat ot tales bit ,u bpdu cp,es fprst upi lmpw? Hey, whjat did you thiml pf tje [pomts I made n mu ;etter abpit oir COLIs going to beuracrats in DX from XOM and GE? You know as well as IO dp that major tax refpr, os gpomg tp tale upwardspf 2 ys? Again, sorry for the typos. Plszs don't post this, I don't want my fans to have denegrated opinions of me. Dave


On Saturday, March 2, 2013 at 1:14am, David wrote:

I'm sory if my messages come out with a lot of tyos ,it's due to the deterioration of my eyes. I need to have an operation.


On Friday, March 1, 2013 at 8:12pm, David wrote:

It is with great regret that I on't be sending along my Stree6view newsletter. Becky, its been 2 1/2 yrs, still no takers. This won't affect our friendshipm business or social But I , gpomg tp be a consultant I'll ne spendlng one week with him teachng the mechanics of investng, maube I'll even get him to buy a stoclhe's a bnear thjat got hurt badly in the last recessio. I a;redy got to agtee with me to do this as soon as he feels better from dialysis. I alread told Cr5amer.


On Monday, February 25, 2013 at 6:01am, Jimi wrote:

Becky, you are the most intelligent and beautiful woman on Televison. Love seeing and listening to you.


On Wednesday, February 20, 2013 at 7:15am, misterbeal wrote:

Was your father by any chance in the U.S. Coast Guard in the 1950s?


On Monday, February 18, 2013 at 5:47am, David wrote:

Becky, Mkts closed today but I still have to work since i'm behind, not haveing the machine for awhile. I've been pushing out 4 day and after today I'll have 60 so I'm well on my way to that magic 125 number then it'll be earnings season and it will all start up again. The work never stops but niether do our paychececks. I have one follower on twitter, is it you? I really hope you do follow me on there. Oh yeagm I blew up Cramer's voicmail, well he is a friend (colleague after all. WAS BEGGING, i'LL WORKK FOR 50 JUST TEACH ME WHAT YOU KNOW. i'M A BIG FOLLOWER ON TWITTER. iT'S ONLY 50 DOWN HERE THIS MORN. sEE, i REALLY WANT TO WORK FOR THE STREET, IF THAT DOESN'T PAN OUT i COLD ALWAYS RUN MY OWN MONEY BUT THAT'S RISKIER THAN GETTTING A PAYCHECK EVERY WEEK. Dad has started dialysis, prat. After he goes I'll make my move to be a Street employee. It's really a stepping stone, see after he teaches me I'll be aualified to be a big investor. Do you think I'm dreaming, after all there is 631k at stake here. Well, back to my cos. Your protege and fan club member, Dave


On Sunday, February 17, 2013 at 8:52am, David wrote:

hey Yankee, Wasn't Matt Martoma the one who frontran Buffett on Lubrizol? Now he's in trouble sith the drug cos with SAC. I mean Steve Cohen is kind of in the clear because he was long when the drug results came iyt begatuve. Martoma we don't know about. A few yrs qgo, they made a law against investos from talking to us sellside analysts out of fear they would sway our opinion. So was the rise of expert networks and the black mkt. These should really be outlawed because they encourage insider trading. They even have ways of hiding your name from the order book but the SEC has its ways. Now, what do you think of computerized trading? Does the retail investor even have a shot, you and me? Did you notice on the Comcast deal the other day, it5 was in the price of bot6h stocks as it was announcded, is that fair to us? Dave


On Sunday, February 10, 2013 at 1:25pm, David wrote:

Becky, Here I am writing to you just like old times. Plus I found the perfect way to communicate with Cramer. I was upset about the autographe for awhile but hey, I;m one of you, what do I need an autograph for? An autobraph is something you pick up at the ballpar, you know? Oh yeah, did you get in from Cali okay? Back on twitter, that's how I'm writing to Jim. Plus I call him profusely. Wonder how I get on the air, bet you have to call at 6 or 11, still a little bashful. I don't know, just too bad I don't have a pic of you that's not on a coffee mug. I think it's time to tell you why i'M where I am. See, that bum I was advising, he owed me a gaand so I threatened him. You know, I can get a big nigga after you, pay him a grand to have you put in the hosputal. They kicked me out of the bldg. Now I live with a Jewish family until I get my own place next month. It's just, well its not the hospital but it's a little program my dad insists I stay in til March. Then I'm going to use my savings to get a car and another apt. Don't worry, I won't be writing to you profusely to tell you about it like last time. Jeez, you'd think it was your apt. Why, do you want to get an apt with me, now I'm just being fresh, don't tell Matt. Anywat, next time I'll write you more about bus like yesteeday, promise not to make it an everyday event. Dave


On Saturday, February 9, 2013 at 4:15am, David wrote:

hey honey, hey are ou still a bear Becky? Your freind Jeremy Siegel was on Squawk yesterday, remember how you held his feet to the fire? Still says mkt will go to at least 15,000 this yr. Says it will be through multiple expansion, well how else? Have you head about all the growth in tech thoughj? 28X trailing earnings, 16X forward, well at least the 40 I cover. Did you know I've read Heremy's book twice? It's really not that difficult, probably grad school work, huh, well not to brag but I am your newly minted colleague and protege. How do I write to Cramer though, it keeps coming back failure daemon on my machine. So glad its here now though, up to 41 so far this quarter but I think I can do 125+, almost made it there last Q. Cramer is so challenging, bet he adds 10a nt to what I follow. He gave me the ideas for Celgene and Symantec which is up 20% for me. Why didn't you use your retail job with the Journal for a runup to an analyst career, bet you would have made more money. I mdzn you'df xo booc on Squawk, you could have made analyst if you wanted to or did you not like writing? You know what my problem is? I try to write everything in my own words but it alwaays ends up looking like a copy of the earnings release, so envious of the guys who can sell to Yahoo Finance. Well, for one thing, I think they write from their heads not their notes, got a lot to accompish over the next 2 yrs. Wow, you had 3 yrs over me in retail and 12 on Squawk, startint to see why you may have more than 2 yrs over me (really). What do you think, because I can see in your legs you're not that mechanical and this is where all my experience lies. I mean I'll bet I could teach you a few things about rating systems. Doesn't matter I suppose, you're still the better writer among the 2 of us, you're still the one that gets to talk to CEO's. Your newly minted colleague (protege), Dave p.s. whatever I've ;earned from you my school still doesn't think it's worth a bachelor's, I tried what do you think now that you know what I look like, see how mechanical the way I hold my watch


On Friday, February 8, 2013 at 12:23am, David wrote:

hey Becky, The reason the leters have stopped is I didn't have my machine for awhile. See, one week after I moved back, my dad put me in a group home. Now I've really been relegated butis due o the fact that I threatened that sec guard downstairs that owed me money that I used to advixd. I was thinking of going back on my Tues sohedule starting this week. See, I've met somebody too. His name is Tony as I told you, I'm done with women. This is really too bad as Rhonda and I could have gotten married od je hadnt stood in the way. There is just elderly people here so Tony is a nurse. I hope to be living in either Patterson or outright Englewood Cliffs soon sort of like May because this is when Tony's semester ends and I will have my meds straightened out. If I show up at the studio hopefully you will not think I am stalking you because perhaps we can meet. Dave


On Monday, February 4, 2013 at 9:31pm, Joe Bianco wrote:

You are very professional and I enjoy listing to your views. Keep up the good show in the morning.


On Monday, January 21, 2013 at 3:17pm, David wrote:

Alread for tomorrow's letter? I sent you guys a resume but I think the salary demand may have been a bit on the high side, the onlh reason I asked for it is due to my 20 yrs experience, same as you. Do you still think you're way ahead of me in knowledge or am I destined in 2 yrs? I know one area you're lacking, fncl statements and taxds despite the way you've taught me so much about the news. But let's face it, acctg is boring even for brokrs. Know waht is exciting, the lightning round. Oh yaeh, that show is on right now or is it cancelled due to the holidayh because I know mkts were closed today. So what do you knowa about me? You know I'm sesnsitive, caring to friends and have now given up on women. See, Rhonda was a last ditch attempt. I met her in a mental clinic and stuck by her for 2 yrs out of desperation. The way she made house though Becky, you should have seen it. I used to come home and say oh, transacting with the poor poeple again. I may not notice too much about houses but I do know when poverty is befoer my very eyes. Anuyway, my dad waas really the oone that brome us up. He would made me come in 7 days a week for nothing. Well, he had it in for her the very fist time he found out her age. Sje returned all her xmas gifts and is now not returning phone calls even though she said we could still be frineds. Happy to be back home anyway where we have a lot more wealth and a cleaner house. You do live in a house, huh? We used to. We own our condo free and clear. In fact, we have the money to buy 4. Anuwau. tjamls fpr beomg ,u fromes tjrpigj a;; tjos ,admsess. Dave p.s. I ;ike your practice but you're supposed to show you own numbers, not diss them


On Friday, January 18, 2013 at 8:06am, David wrote:

Becky, Rhonda and I broke up but what's the use in wallowing in the mud? It was cordial, my dad just prevented us from being together. Life sucks, right? I had one more thing to tell you though. I've noticed with all your days out this week, you're not nearing a nervous breakdown are you? I know, lights, camarea, action isn't all its cracked up to be is it? I can't believe what they make you do on chairs, I'd be after those guys to compensate me out of their own wallets. I may as well admit it, see Rhonda was a last ditch effort to find someone, I'm really a homosexual. But rather than being a fag, me, as tough as I am, I want a sex change. I've even thought of a new mame,Vicki Jean Cramer. I'll explain more next time Your friend, Dave


On Wednesday, January 16, 2013 at 7:58am, David wrote:

hey dear friend, Don't worry Beck, not going to pick your brain today. Just wanted to amke one point about yesterday's letter at the end. Did you see me downgrade Obama for being an aboution supporter? There is a reason I did that. See, our last office in Canton right, after we left got taken over by a prostitution ring. Now I called the old number yesterday to a recording, you guessed it, more tears, you must think I'm a crybaby and in a way I am. But that just hurt you know? The place finally burned down. It was maybe, 20 miles south of Boston. I was thinking of moving back home, anything to get out of the deep south right? But why use Boston as a stepping stone when the trading arcades are in NY? While I realize space in Manhattan is $129 a square foot and doesn't come in the 800 sq foot variety, you only need 25k to go to the trading arcade to be coached properly. Hopefully no one will get upset or try to get me to day trade as I am an investor but what say you, is that a good career path? Then I can try Jersery for awhile. Who knows, we may ende up next door neighbors. I still say I love like you even if only for your mind. Dave


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