This morning the SEC filed a complaint against Allen Stanford, the Stanford group and the Stanford International Bank. Reading through the article some things sound very familiar: SIB is operated by a close-knit group of family and friends. The firm’s investment committee, which oversees the bank’s portfolio, is made up of Stanford; his father, who lives in Mexia, Texas; Pendergest-Holt, […]
RCM Comment: As I write this note the equity markets are down over 3% across the board with financials leading the way. At the same time, Gold and Silver prices are called higher by over 3%. Those of you who are part of the Fortune’s Favor Family of Funds, follow this blog, or are members of our website know that […]
I’ve been going back and forth in a couple discussion forums on hedge fund administration and the viability of smaller hedge fund administration firms. This morning I went through our Hedge Fund Service Provider Directory, and pulled up our Hedge Fund Administrator list. I think this gives a sampling of some of the big and small firms out there. Feel […]
NEW YORK (Reuters) – Stocks extended gains on Thursday as shares of financial services companies sharply cut losses on talk that Washington’s rescue plan for banks may include suspension of a key accounting rule mark-to-market accounting, traders said. (RCM Comment: For the record, we believe the mark-to-market issue is complete and utter nonsense and will be disastrous if passed. It […]
RCM Comment: A real battle is brewing in the U.S. equity markets. The proverbial line in the sand has been drawn and the fight is on between bulls and bears. All three major U.S. indices are trading around key psychological support areas: Dow30 8,000, S&P500 800, NASD Comp. 1,500. What hangs in the balance? A move down that takes out […]
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 […]
If you have read the book “Bringing Down the House” by Ben Mezrich or seen the movie “21” based on the book, then you are at least familiar with the system employed by a team of MIT students to beat the game of blackjack. For those that have not seen the movie, the system is simple. You have players sitting […]
How are you feeling in the midst of all these changes? Are you calm and collected or are you overwhelmed? These times are challenging for most people. We are constantly bombarded by the negative news. We are hearing about massive layoffs day after day. We are hearing about budget deficits and turmoil in the markets. So how can we deal […]