Glencore Beast File

Discussion in 'Economics' started by EON Kid, Jun 15, 2011.

  1. Glencore Beast File


    <iframe width="640" height="390" src="http://www.youtube.com/embed/u6rSBifsvwg" frameborder="0" allowfullscreen></iframe>
     
  2. Marc Rich was a driven man. True he didn't give a shit about anybody's well being but his. That is a true success story. Against world resistance he built an insanely profitable company. Nothing to sneeze at.
     
  3. hedge123

    hedge123

    I saw a sickle at 2:51. All that's missing from this video is the hammer.
     
  4. benwm

    benwm

    Watching that video was a waste of my time. I wish the creaters would bugger off to North Korea. Win win for all.
     
  5. Demand slowing in China, says Glencore

    By Jack Farchy in London and Javier Blas in Washington

    Published: June 14 2011 08:44 | Last updated: June 14 2011 20:11

    http://www.ft.com/cms/s/0/8387e3fc-9650-11e0-afc5-00144feab49a.html#axzz1PMwlFrk7


    Glencore has warned of a slowdown in demand for commodities from China and the US, the two most important consumers of raw materials, in its first public results since its $10bn (€6.9bn) flotation last month.

    Ivan Glasenberg, chief executive, said high prices and the Chinese government’s moves to curb inflation had damped demand, although he hoped any slowdown would be temporary.

    Glencore has a privileged view of commodities markets as it controls a large share of trading of industrial raw materials from copper to oil and its reach can allow it to anticipate changes in the cycle. Until now, however, Glencore has rarely made public statements of its views on the direction of commodity prices and demand.

    The warning on the outlook for commodities, together with a downbeat response from investors to the first-quarter results, sent Glencore’s shares tumbling to 500p, the lowest since its initial public offering last month. The stock was the worst performing on the FTSE 100 on Tuesday, down 4.5 per cent on the day.

    However, Mr Glasenberg painted a positive medium-term outlook, saying that the effects of China’s monetary policy tightening would be shortlived.

    “These are short-term ebbs which we see from time to time,” he said. “We still believe in the underlying strong fundamentals, with demand continuing to grow in Asia, particularly China and India.”

    The company reported net income of $1.3bn for the quarter, up 47 per cent from a year earlier but below expectations. Investors noted that at the current rate, Glencore would miss consensus forecasts of more than $6bn for full-year earnings – although Mr Glasenberg told the Financial Times that higher production would “kick in” later in the year.

    Glencore’s warning on commodities demand came as China’s central bank raised banks’ reserve requirements for the ninth time in as many months after Chinese inflation hit 5.5 per cent in May – the highest in nearly three years.

    Investors have become increasingly concerned that the commodities boom may have sown the seeds of its own destruction as near record prices slow global economic growth and dent demand.

    Some fear that Glencore’s initial public offering may have marked the top of the commodities boom. Commodity prices have fallen 7 per cent from a peak touched on the day before the company published its listing prospectus in early May.
     
  6. ome fear that Glencore’s initial public offering may have marked the top of the commodities boom. Commodity prices have fallen 7 per cent from a peak touched on the day before the company published its listing prospectus in early May.

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    7% pull back and it is a trend reversal? LOL.

    Commodities are going to scream again, this is a perfect buying opportunity....

    China is slowing down from 14% at the peak to now around 10%,

    INDONESIA, BRAZIL, PAPA NEW GUINEA, WEST REGION OF AFRICA..
    all on growth mode.
     
  7. AND YES GLENCORE ARE SCUMBAGS BECAUSE THEY DID NOT REACH THERE SUCCESS WHILE PLAYING BY THE "RULES". THEY HAD TO CHEAT, STEAL, LIE AND BRIBE. THIS IS NOT CAPITALISM. SUCH ACTS ARE CORPORATE FASCISM! LIKE GE, GM, BAC, CITI, et all
     
  8. That video is retarded and utterly untrue. Read the Glencore prospectus to find out how they do business - they are the best at global arbitrage utilizing the entire supply chain. They don't hold positions in commodities - they buy from or own producers and they sell to end users. They do not take outright positions. Do some research.