globalHOBBIT

USO: Black Gold Waiting to Erupt

That's little more than three [3] day usage just for the US alone! Globally speaking it's a drop in the bucket.


On Feb 22 05:19 PM Joe Red wrote:

> What about the 80 million barrels of oil stored in the floating tankers
> ? See this weeks business week 3/2/09 pg. 14.
>
> Contango

BofA's Merrill Purchase: Good for America, Bad for Them

Ken Lewis was worried about nothing but making himself look great and he did. With the purchase of Countrywide & Merrill Lynch then using TARP funds to buy a Chinese bank he looked like a great big fool. I have almost 30 years worth of BAC stock in my IRA that now worth a fraction of its cost. I retire in June 09. Please tell me what I should think about Ken Lewis? If you were me what would you think of Mr. Lewis' actions? No, BAC was not my entire portfolio but about 10% of it. Ken Lewis needs to be fired as does his board. Geithner will soon nationalize this bank anyway I fear.

Yamana Gold Should Offer Plenty of Upside in 2009 - Dundee Capital

I suspect that gold may be one of women's best friends along with diamonds. However being a male my experience has usually been that a woman's best and most important friend is her family's happiness, health and welfare.

The Credit Crisis Exposes a Dysfunctional Global Economic Model

"There is too much hope placed on Barack Obama and when it is not fulfilled, people will be very disappointed. President-elect Obama is not a superhuman who can perform miracles."
This is a problem Obama brought on himself with all his promises during the campaign. Even Hillary Clinton, the right's anti-Christ, gave the same warning to the American People as John McCain: 'Obama is promising far more than he can ever hope to deliver on'. When Clinton was saying the same thing as the Republicans people should have taken notice. Few did and now many will be disappointed, many!

What's in Store for 2009? Gold, Metals and Other Markets

"Pick China as an example; frankly would China worry about not getting more dollars when it already has $1.5 trillion? "

While the $1.5 trillion is correct, figures released by The Chinese government place the dollar reserve total at around $489 billion. Your fine article infers that the entire $1.5 trillion is all dollar holdings and that is misleading and inaccurate.

Crude Reality: How Long Can Oil Stay Down?

Just out of curiosity isn't it EIA [Energy Information Administration] not IAE?

Gaza War: Expect a Spike in Oil, Gold

"...... but the popular feeling against Israel’s disproportionate response to rockets fired from Gaza is mounting."

If someone kept shooting rockets at you house and family for eight years and you kept asking them to please stop but the continued you'd get pretty angry wouldn't you. Hamas is a terrorist organization whereas Israel is a member state of the UN. Hamas spends the people's money on bombs and rockets NOT on schools, hospitals and roads. Oil will rise because it was oversold at $33 just as it was over bought at $147. Gold will rise as a result of the global printing presses working overtime trying to re-inflate assets because of the credit crunch. Your analysis of gold and oil seem driven and shaped by emotion rather than on solid economic facts.

Closed-End Funds: Due for Positive Returns in 2009

Last week I sold 5000 shares of AWP at 3 dollars and change. My average cost was almost 8 dollars a share. This fund is managed by father and son Team Lieber was paying a $1.52 dividend per share annually it's been reduced to .36 cents annually.... a 75% cut. If you read their quarterly conference there was no indication they would cut the dividend at all. They even said in the Sept 09 conference call that the dividend may increase. I know this father and son team have a lot of their own money into it also at very much higher prices. The reality is global real estate is in serious trouble and this fund won't see any real price increase until very late 2009 but more likely 2010. Dec 16'th 2009 marked the first time there was insider selling of this fund EVER! That's never a good sign.......never.

Buying USO Is a No-Brainer

What's the major difference between USO and DXO other than USO gives 100% oil's price change and DXO gives you 200% of oil's price change? Thanks

3 Dividend Aristocrats in Danger of Losing Their Status

Nothing is safe anymore in the dividend world. I purposely bought closed end funds the were less than a year old, did not use leverage and used 'dividend capture' strategies and they were all well invested in both mix of company and globally. I bought around five of them at prices the were from 50% - 60% from their highs, which were in this case the IPO prices. The first one was AWP [Alpine Global Premier Properties] which I paid around 7$ for (down from $20) with a $1.52 div. That dividend was cut the other day by 75% to around .40 cents a year. I'm retired and cannot afford to take that kind of beating especially since the manager said in a Sept conference call that the div was safe and he couldn't see any reason why it couldn't even be raised in 2009. Nothing is safe unless you're a friend on Paulson. As a republican I can say I dislike both Bush & Paulson. I hate the Cerberus Capital is getting taxpayer money because its boss is a man named Snow who was Bushes Sec of the Treasury before Paulson and former VP Dan Quayle.AIG and the banks take our money but won't tell us what they are doing with it and the politicians, both Democrats & Republicans find that just swell! These are the starting incident that I can foresee the 1960's street rioting happening again. We the people are tired of being treated like insects by the rich, the politicians and the lobbyists. Enough is Enough!

Bernie Madoff Comes Out of the Closet

With 50 Billion Dollars maybe lost what I find most disturbing is that someone who read this article, sole concern expressed, was the numer of times the 'F' word is used.

The Problem with GLD and SLV ETFs

I find your analysis of these precious metal ETFs right on the mark. I have read the prospectuses of both these funds and find the disclaimers frightening. Why are independent spot inventory inspections limited, in the legalese of the prospectus, the managers don't have to show anyone they have what they say they have. Why is it that only a court order can compel the fund managers to open the vault(s) to verify the quantity and quality of these funds stated holdings? Anyone who argues with the authors findings probably has NOT read the prospectus fully for these funds. These funds do have a purpose as some of the other comments have stated and they are valid hedges and trading vehicles. However most people who buy these two funds in particular believe they are getting 100% 99.9999% fine gold or silver and that simply isn't the case. My point is read the prospectus fully before making the investment so you understand exactly what you're getting and what you're not getting and even what you might not get. Gold's periodic symbol is AU and when you buy GLD, gold's exchange traded ticker symbol your not getting identical twins, for that matter you may not even be getting fraternal twins but rather second or third cousins twice removed.

Rubin's Teflon Finally Wears Off

At what point shall this person proclaim himself a man of integrity, an honorable man, a man willing to admit he made many mistakes. This guy is like President Bush and just can bring himself to say' I made a mistake. America, to our great loss, no loner has any great statesmen or stateswomen, just far too many political hacks both democratic and republican. We want an American, fair and impartial to lead.... a person who puts America First...... Remember how the founding Fathers were thinking in 1775 that how were need to think of ourselves as know. People, remember we are Americans and there isn't anything we can't do except win if we think otherwise.

Why Are Homebuilders Up On Lousy Earnings? [Housing Tracker]

I totally agree with SWRichmond assessment on the 30ish to 40ish group of investors. I was in college back in the early to mid 1970's and was interning at a brokerage company, Hoppin-Watson & Co., and I still remember well the 1972-1974 correction. We seem to be on our way there now as this is worse than 1987's correction and the dot-com bubble of 2000. Seek out the wisdom of men like Art Cashin who were around back then and now give very sage and insightful investing guidance.

Quite a Reversal - China Central Bank Cuts Interest Rates

Rice eating commie bastids are big time liars. They also said Olympics were sold out only for world to discover they were paying people to fill seats. Liars also say people in Tibet happy and free.......ha! Happy and free as chickens on Col. Sanders plantation.