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by GoldCore
Today’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce. Gold fell $22.20 on Friday to $1,364.90/oz and silver closed at $23.632. Silver fell victim to heavy, concentrated selling overnight in thin, illiquid Asian trading. Silver was slammed by 10% and fell from $22.36/oz to $20.30/oz in just four minutes – from 23:05 GMT to [...] In an interview before the Super Bowl, President Obama took a jab at hedge funds and private equity firms across the country, saying that he would finally take on “carried interest” tax, Reuters reports.
There were whispers about the Obama administration tackling carried interest after the election, but it wasn’t until last night that we heard anything specific from the President. Wall Street loves the rule because it allows hedge funds and [...] European regulators have the means to shut down key parts of London’s financial centre at a stroke if Britain left the European Union and would not hesitate to do so, leading central bank experts have warned. by Ambrose Evans-Pritchard, The Telegraph: Membership of the EU single market is the UK’s only legal defence against an onslaught of regulations aimed at forcing banks and fund managers to decamp to the eurozone, they say. “It would [...] Wynton Hall Common ground is hard to come by in Washington these days, but everyone, it seems, hates tax “loopholes.” Democrats claim they rob the government of revenue and benefit the rich. Republicans say tax loopholes distort free markets by letting the government pick winners and losers, thereby potentially introducing artificial and undesirable incentives. Indeed, during the 2012 presidential race, Republican vice presidential nominee Paul Ryan attacked tax loopholes for [...]  Desperate for Returns, Investors Pour Into Junk The money manager’s job is supposed to be straightforward: Take people’s cash and put it to work. The more money that comes in, the bigger the manager’s paycheck. So why would two of the country’s largest fund managers tell would-be investors in junk bonds—the common name for bonds issued by companies with the lowest credit ratings—to go away? The short answer is that it’s for their [...] Morgan Stanley swings to third-quarter loss Morgan Stanleyswung to a third-quarter loss as the investment bank was hit by a huge mark-to-market loss related to the value of its debt. Results beat Wall Street expectations. Morgan Stanley’s institutional-securities business, which includes investment banking and sales and trading results, posted a 79% decline in revenue to $1.38 billion from a year ago. Fixed income and commodities sales and trading net revenue rose [...] The Doc sat down with the Golden Jackass himself Monday for an exclusiveMUST LISTEN interview. Willie informed The Doc that it appears that Morgan Stanley was used by the cartel to prevent a collapse in treasury bonds in 2010, and believes that Morgan Stanley was set up at the time by cartel banks as the next major financial firm to fail. Morgan Stanley put on $8 TRILLION in interest rate swaps in the first half [...] Jim Willie’s latest Hat Trick Letter, ‘Firestorms & Currency Twisters‘ is a MUST READ!! He states that JP Morgan will devour the carcass, and that The Morgue may be preparing to execute the 1st ever private stock account vaporization/ rehypothecation. AN [...] Jim Willie CB – Firestorms & Currency Twisters … MORGAN STANLEY IMPLOSION The insider conversation, often called chatter when it become deafening in tone, is that Morgan Stanley faces imminent failure and ruin. Almost two weeks ago, the Jackass provided a tip to Bill Murphy of GATA to post on his popular LeMetropole Cafe that Morgan Stanley fund managers and high ranking employees were preparing for the firm’s implosion. A subscriber to the [...] In this morning’s Wall Street Daily column, I shared an attractive takeover target for investors to consider. But it doesn’t make sense for conservative, income-oriented investors to chase after these returns. Not when there’s a way to profit from takeovers in a much more reliable and safe manner. I’m referring to the strategy known as merger arbitrage, whereby we wait until after a takeover announcement is made. This is, of course, a [...] KWN
Today Peter Schiff spoke with King World News about what he described as “The perfect storm.” Schiff also discussed gold, the Fed, mining shares, and much more. But first, here is what he had to say about mainstream fund managers and gold: “I think that what’s going on is that most mainstream investors, who invest other people’s money, see gold as a bubble and are waiting for it to burst. People think the [...] KWN
Today Peter Schiff spoke with King World News about what he described as “The perfect storm.” Schiff also discussed gold, the Fed, mining shares, and much more. But first, here is what he had to say about mainstream fund managers and gold: “I think that what’s going on is that most mainstream investors, who invest other people’s money, see gold as a bubble and are waiting for it to burst. People think the [...] Bond savers: Get ready to jump ship One of Britain’s leading bond fund managers is urging investors to “get ready” to ditch bonds because they are riskier than equities at this juncture. The warning will sound alarm bells for tens of thousands of risk-averse savers who have piled into bond funds since January amid the economic turmoil. They have poured almost £4bn into corporate bond funds, which have outsold any other type [...] Irish Independent Excerpt and Link: “Scandinavia’s banks were also under the spotlight as the ratings agency Moody’s cut its credit ratings on three of the biggest players in Norway and Sweden… Fund managers have caught fright at the increasing risk of contagion in the eurozone ahead of a possible Greek exit, and are rushing to dump euro assets. Citigroup analysts even warned that the euro could fall to parity with the dollar. “Europe is [...] via CNBC: Some of Europe’s biggest fund managers have confirmed they are dumping euro assets amid rising fears over a possible Greek exit from the eurozone and single currency turmoil. The euro’s sudden fall this month caught many investors by surprise. Europe’s single currency has lost 5 percent in the past three weeks after barely moving against the U.S. dollar for much of the year. On Thursday, the euro[EUR= 1.2548 0.001 (+0.08%) ] hit a fresh 22-month [...] From The Reformed Broker: As I write, I am sitting in a balcony seat next to my man Agustino Fontevecchia from Forbes Magazine. We are in Avery Fisher Hall at the magnificent Lincoln Center, next door to the Metropolitan Opera House where the Fat Lady sings literally every night… So I got here just in time for the heavy hitters to begin speaking after intermission. My notes below encompass the afternoon session. I’ll [...] Last updated: BY MARTIN GONZALEZ AND DAVID REILLY In a postcrisis world, big banks shouldn’t be allowed to ignore uncomfortable realities. Yet when it comes to money-market funds, J.P. Morgan Chase, Wells Fargo, Bank of America and Citigroup have asked for special treatment allowing them to do just that. Money-market funds aren’t explicitly guaranteed by their sponsors. And yet in recent years, they have received considerable support from them and, in the wake of [...] The money-on-the-sidelines argument has reached deafening and self-confirming as anchoring bias among any and every swollen long-only manager seems to have made them ignore the realities of the situation. David Rosenberg, of Gluskin Sheff to the rescue with good old fashioned facts – as much as they might disappoint the audience. Barton Biggs quote in the USA Today article points out how bullish he is and how cash levels are very high [...] From Marin Katusa, Chief Energy Investment Strategist, Casey Resesarch: Many of Casey Research’s editors and analysts spent last week in Toronto at the annual Prospectors and Developers Association of Canada (PDAC) convention. PDAC is one of the biggest resource conventions in the world – this year, more than 30,000 people attended the show. A convention of that size attracts investors, analysts, mining executives, geologists, prospectors, and government representatives from all over the [...] City fund managers have backed tax cuts for British companies to encourage job creation, as part of George Osborne’s Budget next week. In an exclusive poll of 200 leading investment houses conducted for the Daily Mail by Capital Spreads, 76 per cent either strongly agreed or agreed the Chancellor should cut business taxes to foster new employment opportunities. Simon Denham, head of Capital Spreads, said: ‘There could not be a clearer clarion [...] From FT: Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund made $13.8bn for investors last year. The profits made by the Connecticut-based Pure Alpha – already the world’s biggest hedge fund, with $72bn under management using its trading strategy – beat its own record for the largest one-year dollar gain last year. However, the ranking by LCH Investments, part of the Edmund [...] By Mitch Tuchman PALO ALTO, Calif. (MarketWatch) — Active investing is a loser’s game. Putting money with a mutual-fund manager can be six-to-eight times more expensive than passive, indexed investing because pros are trying to select a few stocks to “beat” a benchmark index. With an index fund or exchange-traded fund, in contrast, you basically get the exact returns of the index. Since computers (not humans) manage the stocks, [...] by Daniel Solin A routine report from Morningstar contains some great advice for investors, if you know how to interpret it. The report notes that passively managed funds (basically index funds) had a net inflow of more than $76 billion in 2011. In stark contrast, actively managed funds, where highly paid fund managers attempt to beat the returns of a designated benchmark, had net outflows of $9.4 billion. [See The 10 Best Places to Retire in 2012.] Here’s the hidden gem: [...] |
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