Alan von Altendorf

http://www.cwsx.org
Total Rating:
+22 / -20

256 Comments

    • Sat Nov 1st 05:53 AM | Rating: +3 0
      Commented on:
      The Shallowest Generation
      DougM wrote: "all those unfunded liabilities... were set up to benefit the WW2 generation."

      Exactamento.
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    • Fri Oct 31st 08:13 AM | Rating: 0 0
      Commented on:
      Three Favorite Mining Investments
      IVN on superlative science, backed by Rio Tinto. Highly speculative.
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    • Fri Oct 31st 05:43 AM | Rating: +10 -7
      Commented on:
      The Shallowest Generation
      Hmm. Well written. Thank you. Wish I could agree with the conclusion, but you were much nearer the solution when you admitted that playing by the rules made you a chump, an enabler, who implicitly allowed the grifters to snowball wildly out of control. How you believe that Barack Obama and a Democrat Congress can save anyone is inexplicable.
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    • Thu Oct 30th 23:35 PM | Rating: 0 0
      Commented on:
      Historic Volatility - and Concentration of Stock Ownership
      That brings up the "weight of money" conundrum. Institutions are scared to sell, because it would feel like an avalanche and trigger a crash.
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    • Thu Oct 30th 09:56 AM | Rating: 0 0
      Commented on:
      Bears Have Rallies Too
      Thank you, MM. Very helpful.
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    • Thu Oct 30th 08:13 AM | Rating: 0 0
      Commented on:
      Petrobras: Dead In The Water
      24/7 reports that Morgan Stanley has initiated coverage of PBR with an 'overweight' rating, positive that Petrobras' massive untapped reserves can be monetized in an environment of higher oil prices.

      Keep in mind that MS speculates in oil futures and makes a market in East Coast physical oil inventories. The question should be when and how much of those "massive untapped reserves" can be monetized. I think the answer is 2015 or beyond to break even. Speculative rating affirmed, no matter what Morgan says.
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    • Wed Oct 29th 08:23 AM | Rating: 0 0
      Commented on:
      Buy, Sell or Hold: iShares MSCI Brazil Upholds 'Order and Progress'
      Oct. 29 (Bloomberg) -- Argentina's planned nationalization of its retirement system may trigger a fire sale of Brazilian stocks as private pension funds are forced to shed foreign holdings.

      -------

      Just gets better and better. A 'screaming buy' indeed.
      View article »
    • Wed Oct 29th 06:39 AM | Rating: 0 0
      Commented on:
      Buy, Sell or Hold: iShares MSCI Brazil Upholds 'Order and Progress'
      SAO PAULO, Oct. 27 (LA Times) ... Brazil has added little in the way of ports, roads, electric power capacity and air terminals since the late 1970s. The nation's stagnant economy and debt default in the 1980s, and boom-and-bust cycles in the 1990s, made planning and financing such megaprojects next to impossible.

      Now, a healthier economy has only made the infrastructure deficit more acute. Those arriving at Rio de Janeiro's international airport, for example, are met by an overpowering stench emanating from the surrounding saltwater lagoon that has become a sewage catch basin for much of the city.

      The lack of adequate infrastructure also is apparent during the soybean harvest at the port of Paranagua south of Sao Paulo, where trucks line up for 15 miles to unload their cargo. Sao Paulo's chronic gridlock bespeaks the lack of a ring road around the metropolis of 18 million residents.

      A dry season in the Amazon, where much of the nation's hydropower is generated, could lead to a nationwide electricity brownout, said Adriano Pires, director of the Rio-based think tank Brazilian Center for Infrastructure.

      www.latimes.com/busine...
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    • Wed Oct 29th 03:41 AM | Rating: 0 0
      Commented on:
      Six South America Profit Plays
      "Petrobras is one of the few emerging market oil companies with access to modern technology and willingness to work with the oil majors."

      US majors and US vendors give Petrobras modern oilfield technology and what does state-owned socialist Petrobras do with it? --

      RIO DE JANEIRO, Oct. 28 (Xinhua) -- Brazil's President Luiz Inacio Lula da Silva will visit the Cuban capital of Havana on Thursday to meet with the country's leader Raul Castro, presidential spokesman Marcelo Baumbach confirmed Tuesday. During the meeting, an agreement on the exploitation of oil off the Cuban coast will be signed between the two nations' state-owned oil and gas companies, Petrobras and Cuba Petroleo

      View article »
    • Wed Oct 29th 03:21 AM | Rating: 0 0
      Commented on:
      Petrobras: Dead In The Water
      Odebrecht has postponed $1.3 billion commercial bank financing for three oil rigs to be contracted to Petrobras. (Project Finance Magazine 10/28/08 - subscription required)
      www.projectfinancemaga...


      More detail via Gulf News:

      Norway's Sevan Marine has lost 70 per cent of its value this month amid concern it won't get financing for two drilling units.

      Houston-based Atwood Oceanics Inc. said October 16 that it won't exercise an option to build a deepwater rig at Jurong Shipyard Pte. Ltd. in Singapore. New rigs were being ordered to ease a shortage of deepwater gear needed to exploit offshore prospects like Brazil's Tupi, announced in November by Petroleo Brasileiro, or Petrobras.

      "Petrobras would probably be the dominant oil and gas company that gets hit by this," Uhlmer said.

      Jose Sergio Gabrielli, chief executive officer at state-controlled Petrobras, said the Rio de Janeiro-based company may need to help find financing for some of its suppliers. "We are concerned about the supply chain of products for Petrobras," Gabrielli told reporters at a conference in Houston last week.

      Chief Financial Officer Almir Barbassa, speaking on the sidelines of the same conference, added that some suppliers are affected by the loss of trust by lenders.

      "This causes much more problem to our supply chain, as Gabrielli said, than to ourself directly, but we cannot survive without our supply chain," Barbassa said.

      www.gulfnews.com/busin...
      View article »
    • Wed Oct 29th 03:08 AM | Rating: 0 0
      Commented on:
      Buy, Sell or Hold: iShares MSCI Brazil Upholds 'Order and Progress'
      SAO PAULO, Oct 28 (Reuters) - Brazil's government should define rules by the end of November for exploiting the country's recently discovered subsalt oil reserves, President Luiz Inacio Lula da Silva's chief of staff said on Tuesday.

      "Today it's a case of working out what will be for companies and what will be for the government," said Dilma Rousseff at an industrial event in the capital city Brasilia.

      www.reuters.com/articl...
      View article »
    • Tue Oct 28th 09:09 AM | Rating: 0 0
      Commented on:
      Ignore the Hype - Gold as Currency is Dead
      Long live depreciating paper claims to future US taxation?
      View article »
    • Tue Oct 28th 08:13 AM | Rating: 0 0
      Commented on:
      Buy, Sell or Hold: iShares MSCI Brazil Upholds 'Order and Progress'
      "Petrobras should easily be able to finance the estimated $163 billion needed over five years to continue developing its ambitious mega-oil project out of its own cash flow, government and bank financing and profit-sharing arrangements where it chooses."

      Wonderful. I'll let them know.
      View article »
    • Tue Oct 28th 06:54 AM | Rating: 0 0
      Commented on:
      Continued Rubbernecking in the Global Markets
      Brilliant writing, MM, and captures the reality exactly.
      View article »
    • Mon Oct 27th 10:15 AM | Rating: 0 0
      Commented on:
      In the Fog of Volatility, the Notional Becomes Payable
      Brilliant stuff. Thank you.
      View article »
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