Global Investing Editor

Long only, growth, special situations, foreign companies
Global Investing Editor
Long only, growth, special situations, foreign companies
Contributor since: 2008
Company: agorot limited
what about SELF? we got into it because it used to be Global Income Fund, GIFD.
the first thing that hit me was the total lack of any foreign exposure. given the poor performannce of currencies in 2015 this may look smart but in the long run it ignores the reality of how income is generated by (dare I say it?) some stocks which have an edge in a high-dollar world.
A second point is more of a quibble. Since Pimco is owned by Allianz, the German insurer, isn't there overlap with PDI, which by the way I also own, mainly tempted by the discount from NAV?
I have a stock pick for the post-Paris world but I cannot post in on seekingalpha because I cannot find the spell checker.
estamos nos Estados Unidos onde nao podemos comprar os bonos alemaos de
Like Silli-con doc my readers and I are seriously ahead on Nokia
Like many Americans I did once own Lucent after the AT&T breakup
but I was not on board when it merged into Alcatel. In my view NOK
is not barking
good note and interesting controversy over the statistics. the interconnection between China and Hong Kong markets now is confined to institutional investors which is the big difference from the ADR market Paulo cites.
to mediate person killing make of cancer saline’s [ph] expressing these protein. The recent expression and functional data suggest first in class clinical opportunities for CGEN-15027 ADC anti-bodies in the treatment
like patterns for patents this is another indicator of misinformed transcript writers who need to be given a vocabulary list before being set loose on a company's talks.
you mean patents not patterns. I am not sure if it is the Israeli accent or the people doing the transcripts which are at fault but Seeking Alpha needs to deliver a list of words for the industry which is reporting. The word patents is absolutely crucial in the case of a biotech startup. So seekingalpha gains another gamma triple minus score with CGEN transcript
if you are in Britain, Connor, the easy way to short Herbalife is to buy into Bill Ackman's Dutch-incorporated closed-end fund or in UK English investment trust, listed in London. It is called Pershing Square Holdings, PSH on the LSE.
Pershing Square is next to Grand Central Station in Manhattan on East 42nd St. I am writing from near Mr Ackman's NYC office in the East 50's.
PSH fell sharply last week over another problem he had by defending, Valeant, VRX, of Canada which it is long. The stock which trades in US$s (real money in the USA even for a short seller after all) is now at $21.o4 as of Friday's close. It worked out its net asset value on Wednesay after the close but of course that is not ancient history so I will not tell you it is below net asset value.
chipping in to help is an important South Korean symbolic measure and was used to extract the SK Won from the Asian Contagion in 1997. Probably before your time, but not before mine. '
PKX borrows in dollars and may well be hedging the forex risk, which you didn't mention. there is no real global market in won in case it is not obvious.
China is a threat of course but in practice China is in talks to license PKX technology for producing steel with less pollution (an big issue for the oligarchs and pols in Beijing who have to breathe the same air as mere mortals).
While I do not copy Warren Buffett always in this case I agree with the Oracle of Omaha. PKX is not just a steelmaker; it is an advanced technology firm.
Moreover it is not just a company; it is a national Seoul (soul) symbol and has been since it was privatized and ipo'd. So there is more support for PKX in its homeland if not on Wall Street than you seem to allow for.
Early Retiree is a pseudonym of Bill Ackman's. 40792585 is that Australian short-seller Bronte.
I think this site would gain a lot in credibility if the writers gave their real names and bios. Anonymous just won't cut it. So needs to change its rules.
Violet le Duc was a 19th century (male) French architect not a writer. I hope the rest of what you have to say is better sources
you mean obviously not I hope obliviously
we exited CBI after it went for a takeover of a firm we had owned. By the way, the articles cited above all fail to mention that despite its red-white-and-blue corporate name, Chicago Bridge & Iron is Dutch incorporated.
nice piece but the discounted cash flow table cannot be read if you magnify it, probably an error by seekingalpha rather than the author. A point of order. Nobody calls it Pohang Steel Co. any more as the company formally and legally changed its name to swinging Posco. And I also think Warren Buffett himself (as well as Charlie Munger) owns the shares. So do we.
we already did this once before at
American Express when it got rid of
Three Sticks. It is in a different part
of the business than Visa and MC
And we shouldn’t weakness of the company we shouldn’t use big volt to define the result.
your transcript makes no sense
dear Dostoievsky
Vale has dollar-denominated debt which you left out of your calculation. that is how your namesake wound up losing all his money on the gambling tables, not looking at ALL the factors
Mr. DeMuth is repeating a pairs trade undertaken last year by the managers of Africa Opportunity Fund, the London-listed dollar-denominated closed end Fund which I recommended in seekingalpha. While it sounds like a slam dunk, they managed to lose money on the pairs, I am not sure how.
The company is headed by a Norwegian and incorporated in The Netherlands. Its major shareholders are descendents of the French bothers who founded Schlumberger in the 1920s, mostly French. So to assume that there is any way that SLB will become the victim of Russian reprisals against US 'boots on the ground' in eastern Europe would be attacking the wrong country. The commercial plane that was shot down over Ukraine by Russian missiles was a KLM plane en route to the Far East so the Dutch have their own skin in the game already. Paal Kibsgaard as the CEO of a Dutch firm would not be licking Putin's shoes in any case.
As for shorting SLB, I would warn against this. The current oil price will keep smaller rival oil search technology firms from continuing to operate profitably, including Eurasia and its prime customer, Lukoil, but also plenty of other more capitalistic Western companies in the oil patch.
a year ago when Modi invited his Pakistani counterpart to his inauguration I went on a search for a Pakistan ETF. Helped by a college classmate who was a US stockbroker and had lived in Lahore for years before her Pakistani husband died, I wound up in a Deutsche Bank MSCI Pakistan index fund traded in... Hong Kong. Now the US equivalent has launched at last.
While obviously generalizations about any country's readiness for capitalist development are likely to be wrong, there is plenty of evidence, apart from my Lahore classmate, of entrepreneurship on the ground. The country is ruled by an oligarchy of landowners with military links, not a pretty picture, and many elements of the Islamabed ruling group are close to the Muslim extremists attacking India and running things in Afghanistan.
Yet in the midst of this mess, there are shoots of capitalism, starting with the garment industry which operates both on behalf of western companies and, in a few cases, mass-producing lovely non-traditional women's fashion items. Because of Islamic food rules, Pakistan also makes basics for Muslims like cooking oil guaranteed not to contain banned lard.
It moreover has an old trade entrepot in Karachi. I am not ready to write Pakistan off as too socialist (it is not socialist at all, more like feudal in my opinion) or too fundamentalist as one writer suggested earlier.
As for being punctual, that is not always the fault of the person who is late given the state of the roads.
I am going to look into converting my Hong Kong DBMSCI shares into US ETF ones. Thanks
sure it has less exposure to North America, but Borshe moi, it also has a lot more exposure to Russia. You cannot compare global operator metrics to those for a company doing business in Russia and the Caspian offshore.
the ticker symbol for Sanofi is SNY not SNF.
Bien a vous
a fine job. there is an African way to buy into Tencent which is how we got there. Something like 32% of Tencent is owned by Naspers, a media group from South Africa.
if you live in a high tax state you would not have deferred buying munis and muni funds. so we New Yorkers have a laddered portfolio thanks to years of buying.
I wonder if we are related: my mother-in-law Mildred Gerrard married my father-in-law Alfred Lewis, both in Britain. No children other than ones we know.
u are comparing apples to oranges. the two companies as in different phases of growth and investment. They are in vastly different sectors. So natch the numbers don't jibe.
just for the record, back about 15 years ago we bought into an earlier version of Marshall Edwards Down Under at the advice of a fund manager who wrote for my newsletter. It turned out there was a bribe. He was not paid by MEI but they put money into his fund from their pension plan. And other Australian firms did the same. I fired him and sold my shares in his fund. He subsequently was delisted from the US chartered financial analyst group. So there are some reasons why the market is particularly trigger-happy over MEIP as reincarnated. All these young newbies are buying without knowing this sad history, why I am bringing it up here. Australians speak English but they are not always ethical, and it can boomerang!
Having been present at the creation of seeking alpha, I managed to get banned from contributing after recommending UK-listed Africa Opportunity Fund, in an article on seekingalpha based on one which had appeared in The issue was that the SA editor wanted to know my sources, which in journalism is a no-no.
For the record, the question was whether its listing would be upgraded in London from the Alternative Investment Market where it then was to the regular London fund trading list on the London Stock Exchange. It duly did get upgraded. (It also performed rottenly, but that was the result of problems of the Ghanian currency and Ebola, neither of which I or the fund manager had anticipated.)
I made a stance that my sources are nobody's business and that if I do not reveal them to my own paid subscribers I would hardly tell SA editors about them. Moreover this was a rather trivial point in my article and I offered to let them remove it altogether.
Anyway, the net result is that my work no longer appears in seekingalpha and any subscribers I might have gotten have been lost.
So being in the publishing business I am hopeful of reconciling with Eli and the editors (none of whom was present at the creation when I first started writing for the publication) and get into the new signup deal, which is exactly why a newsletter editor shares stuff with a free site. My biggest SA coverage was for Royal Bank of Scotland preferred stocks which still are a good investment for yield, by the way.
Over to you, Eli.
I am vivian@global-investin... if you want to tell me off. I think you owe me some money still for some pro articles you ran.
The website for signing up for now is
the problem with this kind of broad-brush macro-economic analysis is that countries like France are full of companies which are growing and growing fast despite the gloomy figures. To find them you have to drill down to corporate numbers to look at company results. There are exceptions in any big country; fifty million Frenchmen can't be wrong!