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At Last We Know, Then
(Greek Prime Minister) Papandreou has said that he didn`t want one cent. The German government will not give one cent, anyway.
Quote by: Rainer Bruderie (German Economy Minister)
Quote made on: 05/03/2010
Quote Submitted by: Tony Bright
Source: http://www.rtbf.be/info/economie/ue
Editor's Notes
So there we have it. The Greeks are unlikely to be getting any cents out of Germany.
It`s fair to say we`ll all be watching that space pretty closely over the course of the next few weeks.
(2 votes, average: 5.50 out of 10)
Loading ...Published on: May 29, 2012
Tokyo Rose (Then Fell Again)
Those that have been in the industry ..for a long time have been a bit cynical about rallies, but now may just be a game-changer
Quote by: Simon Callow (Lead Manager of the £220m CF Midas Balanced Growth fund)
Quote made on: 30/03/2012
Quote Submitted by: Mark Stevenson
Source: F E Trustnet News and Research
Editor's Notes
Around three months ago, Simon Callow, lead manager of the CF Midas Balanced Growth fund, was waxing lyrical about the prospects for the Nikkei index in Japan, which then stood at the level of 10,083.56. The turning point at that time was apparently the decision by the Bank of Japan to embark on a programme of quantitative easing.
He will therefore have been dismayed to read the report in FT Weekend (26/05/2012), which referred to the fact that, “Japan`s stock market is on its worst run since November 1977 – even though the central bank is pumping liquidity”
Had you been encouraged to invest at that time by Mr Callow`s enthusiasm, you would find yourself down to the tune of about 15% at the moment. As Kenji Abe, strategist at Citi says, “The market is driven by sentiment. It is very hard to predict equity price directions in this kind of environment”.
Makes you wonder why some people keep trying to, really.
(4 votes, average: 6.25 out of 10)
Loading ...Published on: May 29, 2012
Golden Bulls
“I Would Buy Gold At Almost Any Price” ($1,711 on 02/03/2012)
Quote by: Evy Hambro (Fund Manager of Blackrock Gold and General)
Quote made on: 03/03/2012
Quote Submitted by: Roger Witherspoon
Source: "The Daily Telegraph"
Editor's Notes
EDITOR`S UPDATE ON 29/05/2012 – It looks as though Jack Farchy of FT.com has been winning the battle of the gold forecasters over the last two or three months. Towards the end of last week, Evy Hambro, the Blackrock Gold and General manager admitted to being “thoroughly disappointed” by the poor performance of listed gold equities over the past few months (although he still believes that the catalysts for positive re-ratings are in place). ”New Model Adviser” stated that, like many of his peers, a gradual increased position in listed gold miners and a reduction in physical gold holdings had yet to pay off.
So, in the last 12 months to 21 May, Evy Hambro`s fund has dropped about 28% and, since he made his bold statement at the beginning of March this year, anyone investing over that period would have lost more than 8% of their investment.
Anyone for gold yet?
EDITOR`S UPDATE ON 26/03/2012 - The picture has been deteriorating still more for gold buffs over the fortnight or so since this blog was originally posted. According to Jack Farchy of FT.com, “Investors are losing their enthusiasm for gold as signs of improvement in the U.S. economy tempt them away from the traditional haven; gold hit a 10 week low of $1,627.68 on Thursday” (22/03).
It remains to be seen whether it will be the views of Mr Hambro or Mr Farchy that will prevail over the coming months.
(02/03/2012).….but I would prefer to buy it one week later when it has fallen by nearly 3%. According to the F.T. (10/03/2012), “gold prices sank to their lowest level in six weeks of $1,663.30 on Tuesday and also dipped below a key technical indicator. The skids were put under bullion as markets adopted a more pessimistic view over the chances of a third round of quantitative easing from the U.S. Federal Reserve.” With the gold price today down further to 1,646.38 at the time of writing, it`s a good job that it`s a marathon not a sprint, otherwise Mr Hambro might be accused of talking up his own book.
(5 votes, average: 7.80 out of 10)
Loading ...Published on: May 28, 2012
