David Einhorn President, Greenlight Capital, Inc. The Fed’s Jelly Donut Policy A Jelly Donut is a yummy mid-afternoon energy boost. Two Jelly Donuts are an indulgent breakfast. Three Jelly Donuts may induce a tummy ache. Six Jelly Donuts — that’s an eating disorder. Twelve Jelly Donuts is fraternity pledge hazing. My point is that you…
Below are a few para’s from legendary investor Seth Klarman that seem prescient to us with regards to some of our mining picks of late – ABG, KAZ, LMI and pretty much any gold miner you wish to mention… When the market moves against you but you are firm in your fundamentals, it can be…
Suleiman Kerimov Well, the final countdown begins for a near certain re-tabling of a takeover offer by the 3 oligarchs looking to steal (sorry, take private) ENRC and so end the hapless saga that has been the company’s listing experience… This weekend there were conflicting stories out from both the Telegraph and Sunday Times, with…
I think that I would have to confess that I have learned more about the markets and trading in the past year, than in the past twenty. Certainly having a couple of books published in the past year has helped gather my personal store of knowledge, but an advantage of writing about the markets…
Courtesy of Edison Investment Research – Gulfsands has successfully diversified its business away from Syria and now operates in Morocco, Tunisia and Colombia. We increase our 2014 RENAV to 121p per share (453p unrisked) driven by the valuation of its highly prospective Fés permit, expected to drill in H214 (30p risked, 325p unrisked). Our valuation…
The Dow is up 16.8% year-to-date, ranking ninth over the past 100 years. The Dow has had 63 positive days so far this year. Only two other years have had more than that, and one other year has tied that. The Dow has lost 1% or more during a single session only twice so far…
Hedge funds are usually referred to as the “king of all investments”. In reality, only a few fund managers have actually produced consistent stellar performances over the last two decades. however. The best portfolio managers have produced a whopping 20% to 30% gains on average per years, whereas as a whole, the hedge fund…
1. Black Tuesday October 29th 1929 The Dow Jones industrial average plummeted by 11% and 16 million shares were traded on one day. That was a record in itself. It took until 1954 for the average to get back to the pre-crash figure. There was a knock-on effect even back then and Canada lost 50% of…
Goldman Sachs on Thursday closed its recommendation that investors bet on higher copper prices, citing the belief that China would clamp down on the use of copper as a financing tool. Amid tight lending restrictions, some merchants in China imported copper to use as collateral. With state regulators set to implement new policies to curb…
The striking correlation between the current rampage in the Japanese stock market and that of 1987 is stunning. In 1987, the index had a remarkably smooth 89% rally that began in early November, lasted 186 days, and was followed by a 9.1% correction. Currently, the Nikkei 225 has had a remarkably smooth 85% rally that began in…
