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Global Investing News
Texas Financier Stanford Charged With Fraud; Trump Casinos File for Chapter 11; Amex and Capital One Defaults Rise; WalMart Beats Expectations; Blackberry Execs Pay Back $2.2 Million; Oil Prices Fall Below $35
- The Securities and Exchange Commission yesterday (Tuesday) charged Texas financier R. Allen Stanford and three of his firms with a “massive” fraud that centered around high-interest-rate certificates of deposit, and raided some of the companies’ offices, MSNBC reported. In a complaint filed in federal court in Dallas, the Securities and Exchange Commission alleged Stanford conducted a fraudulent investment scheme in an $8 billion CD program that promised “improbable and…
Current Stock Prices: Why Trillions of Dollars on the Sidelines Maybe A Good Thing
You can’t blame most market investors for being nervous…
- The stock market has done a belly flop.
- Real estate keeps tumbling.
- The economy remains weak.
- Jobless claims recently hit a 26-year high.
Investors have pulled tens of billions of dollars out of stocks and plunked it in the bank.
We are optimistic, nonetheless. Why? Because the bad news is already reflected in current stock prices.
Valuations are attractive. Negative sentiment is a bullish signal, not a bearish one. And all that cash sitting on the sidelines is actually a good thing.
This month we’ll look at why.
We’ll also highlight a world-class biotech firm…
10Feb2009 | Investment U | 0 comments | ContinuedUncertainty Escalates as Tomorrow’s Presidential Election Looms
Come Wednesday morning – after the presidential election tomorrow (Tuesday) – the United States will have a new commander-in-chief. The president-elect will face some significant challenges: A weak economy (okay, a recession, given last week’s gross domestic product (GDP) report, which confirmed just how dire the country’s economic situation had become).
While this week’s data from the manufacturing and housing sectors will be eagerly anticipated, nothing compares to Friday’s reports on unemployment and the picture of the ailing labor market. After nine consecutive months of job contraction, few analysts hold out much hope for optimism. In fact, some believe the jobless…
3Nov2008 | Money Morning | Comments Off | ContinuedBailouts, bubbles, and bear markets
The bailouts have not halted financial institution failures, but have quickened the pace of failures.
As the stock market bubble was bursting in 2000 I suggested that readers keep notes or a journal, because someday they would be telling their grandchildren about the bursting of the tech bubble and its aftermath.
It’s only eight years later, and we have the potential for even more dramatic stories for our grandchildren than the 78% plunge of the Nasdaq in the 2000-2002 bear market.
If we believe one side, we might see the nation plunge into the next Great Depression.
What’s scary is they have some…
30Sep2008 | Street Smart Report | 2 comments | ContinuedCan You Spell “Sound Money”?
We are on vacation.
And so is the rest of France. The little church was crowed yesterday, mostly with Parisians and their children. It was also the 50th wedding anniversary for a friend…a retired army colonel and his wife. But the occasion was marked by more sadness than joy. Only three weeks ago, one of their sons was killed in a traffic accident. We felt so sorry for him; we didn’t know what to say. We wished he could worry about the stock market…or the monetary system…or the war in South Ossetia – but it was all no more than the…
12Aug2008 | Daily Reckoning | Comments Off | ContinuedSector Watch: It’s Time To Keep Your Eye On The Oil Industry
The last time we checked in, I had written about a potential Dow Theory buy signal. Lo and behold, the very next day the indexes reversed and started moving higher.
Primarily due to frantic short covering in the financial sector, it was still helped along by declining oil prices and a little government intervention in the short sale department.
The Dow Industrials came very close to triggering a daily buy signal, which would give us a Dow Theory buy signal. But in order to accomplish that, the Dow Industrials need to trade above last week’s high.
Many of the financial stocks, which were…
28Jul2008 | Smart Profits Report | Comments Off | ContinuedHOW TO MAKE YOUR NET WORTH SOAR IN THE MIDST OF A HISTORIC FINANCIAL COLLAPSE
I tend to be in hotel rooms when bubbles burst.
On January 6, 2000, I was on the 30th-something floor of the Marriott hotel across the street from the convention center in San Francisco. I was jet lagged and up working even though it was still dark outside, around 5:30 a.m. local time. Just then, Lucent Technologies announced earnings before the market opened. After beating expectations for 15 quarters in a row, Lucent missed its earnings forecast by 18¢. Much worse, it reported a $1 billion drop in revenue. You can’t miss on revenues by $1 billion unless something is horribly…
23Jul2008 | Daily Reckoning | Comments Off | ContinuedGlobal Investing Roundups
Piracy Robs Microsoft; BlackRock Profits Rise 23%; Nokia Beats Expectations; Venezuela Lights Up U.S.; BOE’s Sentance “Struck”; Coke’s Earnings Hiccup; JPMorgan Earnings Surprise; Investor Outrage in Pakistan
Microsoft Corp.’s (MSFT) profit growth may be stunted this year by a resurgence of software piracy in China, the second-biggest personal-computer market after the U.S., Bloomberg News reported. An unexpected jump in piracy caused Windows sales to miss estimates by $300 million in the third quarter, UBS AG (UBS) analyst Heather Bellini said in April.
Investment manager BlackRock Inc. (BLK) said yesterday (Thursday) that its second-quarter profits rose 23% on a sharp increase in assets under management,…
18Jul2008 | Money Morning | Comments Off | ContinuedThe Four Tough Questions to Ask Yourself in a Tough Market
For investors who are used to living large, this has been the year from hell.
The markets are tanking. Food costs 25% more than it did a year ago. Inflation is on the march for the first time in decades. The sky’s the limit on gasoline after oil prices have doubled in the year.
No doubt about it: As far as financial downturns go, this mess is the real deal.
With that in mind, we’ve taken the time to provide you with candid answers to four questions we’ve been asked time and again. And that’s not all. We used those questions to craft…
1Jul2008 | Money Morning | Comments Off | ContinuedWith the Dow in Bearish Territory, and Oil Prices in the Stratosphere, New Potential Problems Abound
With the Dow Jones Industrial Average down 20% from its October peak – placing it firmly in bear-market territory after what’s so far been its worst June since the Great Depression – neither institutional traders nor individual investors seem able to find anything positive about the economy, corporate climate or financial markets.
The subprime-mortgage mess and the ensuing credit crisis continues to exact a toll on the financial-services sector, meaning we can be certain those write-downs won’t be ending anytime soon. Oil prices can’t seem to find a ceiling as new records are again being set – regardless of whether you…
30Jun2008 | Money Morning | Comments Off | Continued
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