Morgan Stanley – “Not Start of Cyclical Bear Market” (Rebuff to UBS)
by on Aug 8, 2011 •In an almost direct response to UBS Morgan’s beats the bull drum.. “History tells us that after corrections run their course and volatility peaks, forward equity returns are usually positive”. I’m not so sure about that call.. In truth what we need is more money printing, plain and simple. Thats the only thing that will...
CitiGroup – Water “The Single Most Important Asset Class”
by on Aug 8, 2011 •“Why water will eventually become the single most important physical commodity asset class”. Citi. My only problem with water is that, thus far, its been very difficult to make a return from investing capital into water businesses.. I know some posters on the board have worked in the water business before so perhaps we can...
Markets.. and macro thoughts/comments..
by on Aug 8, 2011 •Confusion continues to reign in the developed markets with inevitable over spill into the EM markets. Do we buy or sell the USD? Is the USD still a useful correlation for asset prices or not given its mainly composed of the relationship between the USD and the Euro? Both have negative interest rates. Both are...
UBS ‘Nails It’ – Congrats to UBS..
by on Aug 6, 2011 • UBS does a victory lap here below. They correctly called the levels, timing and end of the cyclical bull market. Well done to UBS. Looking ahead they don’t get any more bullish near term. They are calling for a big rally early Oct but don’t forecast a return to the secular bull until H2 2012...
Goldmans Asian Conglomerates – Buy Swire
by on Aug 6, 2011 •A friend kindly sent me the latest Goldman’s Asian roundup of particular Asian focused stocks. A timely round picking out the unloved conglomerates. I’ve been mentioning Swire for the last couple of weeks as showing particular value. Goldman’s own analysis showing a 80% discount to net asset value. They don’t mention the stella earnings and...
Markets..
by on Aug 5, 2011 •What a week its been and not the week to go on vacation it seems.. The sp500 has moved down 10% in the last 5 days. Dow around 8% or so. Oil has fallen by nearly 15% in the last week but was already more than 15% off her high of the year. Oil’s move...