Market Updates

Paul Renken: Bottom-Fishing for the Best Junior Resource Equities

Expert Interviews The Gold Report: VSA Capital recently published a research report that reads, "One of the key parts of exploration funding and the acceptance of risk versus monetary reward was the considerable correlation between share price appreciation and the reduction of geological risk." However, this no longer seems to be the case. What's broken? Paul Renken: What has transpired for the last couple of years, particularly in the junior and very small-cap exploration space, is that the money to find deposits and advance them along the risk profile to a bankable state has largely disappeared. The dollars required to define a resource have been viewed by the market as an opportunity to sell shares to take advantage of any short-term price strength. From the long-term shareholders' point of view, the money was wasted. Companies should have sat on the cash and not bothered with any exploration.


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Fund & ETF

MLP ETF Expenses Hit The Fan

ETFs Since the inception of the Investment Company Act of 1940, investors have grown to expect every mutual fund, closed-end fund (“CEF”), and exchange traded fund (“ETF”) to be treated as a “pass-through vehicle” for tax purposes. The entity itself would not pay any taxes, and all tax liabilities would be passed-through to the shareholders. That was the status quo for decades, until master limited partnership (“MLP”) funds came along.

Fixed Income

DVHI: New ETRACS Diversified High Income ETN an

High-Yield & Dividend UBS (UBS) rolled out the ETRACS Diversified High Income ETN (DVHI) on Thursday (9/19/13).  The new exchange traded note (“ETN”) is targeted at investors desiring significant monthly income from a diversified multi-asset mix.  It will track the new NYSE Diversified High Income Index minus the 0.84% annual tracking fee.  The underlying index has a current yield of 7.7%, and the ETN will make monthly cash distributions.

Stock News

Company Update: The Walt Disney Company (NYSE:DIS) – Toca Hair Salon Game Designer Challenges Disney in Kids’ Apps

Services [at Bloomberg] - If you’re wondering why a preschool science app is eating your iPhone battery, you probably have Toca Boca to thank. The Swedish studio was the second-ranking publisher of children’s paid downloads for the iOS system on Apple Inc. (AAPL) ’s App Store in June, according to App Annie, an application tracking service. With 30 employees, the upstart maker of Toca Labs and hair salon games was beat only by Walt Disney Co. (DIS) in revenue from that category for that month. The studio, owned by Sweden’s closely held media company Bonnier AB, has kept preschool kids busy since releasing its first games, Helicopter Taxi and Toca Tea Party, in 2011. Read more on this. The Walt Disney Company (DIS), currently valued at $149.28B, opened at $87.15.   Shares have traded today between $86.16 and $87.30 per share with a trailing 52-week range being $60.


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Investing

From Argentina to the Athabasca: Etienne Moshevich on

Energy The Mining Report: You cover oil and gas companies in North America, Latin America and Europe. Which are benefiting from the current instability in oil and gas pricing, and how are they benefiting? Etienne Moshevich: Not only are investments in the oil and gas sector made more risky by the instability in the oil price, but loans for developing countries become a lot tougher to obtain and are sometimes severely reduced.

Personal Finance

This Is the Way Out of Today’s Mad

Personal Finance Investors have had to endure much more volatility in the past few weeks. We may know why — the Federal Reserve put an expiration date on its $3 trillion-plus bond-buying program. But some investors don’t know how to proceed. The Fed’s easy-money policy — mainly known as quantitative easing, or QE — probably will end next year.