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Two Safe Ways to Profit From the "Alibaba Shockwave Effect"

In the mid-1990s, I was fortunate to meet and start working with an Upstate New York money manager named Anthony M. Gallea.

The relationship began when I attended and wrote stories about some of the investment seminars he periodically held for prospective and existing clients. He then became a “source” for some of the investment stories I periodically wrote for Gannett Newspapers. And we ultimately collaborated on a pretty successful book about “Contrarian Investing” that was published by Prentice Hall.

Along the way, Tony shared some pretty important snippets of investing wisdom…

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    The Next Eastman Kodak Co. (NYSE: EK): Companies Headed for Bankruptcy in 2012

    Eastman Kodak Co. (NYSE: EK) filed Chapter 11 early this morning (Thursday), becoming one of the first to file among the staggering number of U.S. companies headed for bankruptcy this year.

    The Rochester, NY-based company, started in 1880, has been bleeding money since consumers ditched film for digital photography. Eastman Kodak listed assets of $5.1 billion and debt reaching $6.8 billion in its U.S. Bankruptcy Court filing.

    "They were a company stuck in time," Robert Burley, an associate professor at Toronto's Ryerson University, told Bloomberg News. "Their history was so important to them, this rich century-old history when they made a lot of amazing things and a lot of money along the way. Now their history has become a liability."

    Kodak stock had fallen more than 35% by 2:00 p.m. today, bringing its total slip for the past year to more than 93%.

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