RCM Comment: The Chairman of Barrick Gold (ABX), Peter Munk, a well respected elder statesman of the precious metals arena, was interviewed during the Davos 2009 world economic conference. You can click on the link to read all his comments, but a key takeaway was his belief that China and other nations may begin converting reserve currency into gold. What […]
White House reviewing “Buy American” measure, according to White House spokesman Robert Gibbs – Reuters Reuters reports that the Obama administration is still mulling its position on ‘Buy American’ steel provisions approved this week by the House of Representatives and that have caused concern among trading partners, a White House spokesman said on Friday. “The administration is reviewing those provisions […]
RCM Interesting thought: “Jim Bianco points out that if the remaining financials in the Dow were priced at zero, it would only lose another 300 points. So, they are rapidly running out of room to take the market lower.” While this thought has merit I would also point out that the financials will have an almost impossible time leading the […]
RCM Comment: 2008 was a successful year for us and 2009 seems to be continuing that trend. We are pressing our advantage in the month of January, focusing Fortune’s Favor I on three basic areas: 1) Long gold (silver) & related assets, 2) long energy pipelines, 3) selective short sales focusing on (but not limited to) the financial space. However, […]
RCM COMMENT: The following story illustrates an exemplary thought process and one we must replicate if we are going to be successful managing money in this environment. Peter R.: Sometimes it can really be true that for want of a nail a battle can be lost. Take Secretary of the Treasury nominee Timothy Geithner’s tax and nanny troubles. The Senate […]
RCM Comment: Good news/bad news on the investment management front as it relates to the redemption/repatriation trade. Citadel’s decision to suspend redemptions until March will no doubt lead the way for others to do the same which should relieve some of the pressure on the markets. Of course, adhering to the cockroach theory (which states there is never only one) […]
