Ackman on why he likes Citi http://finance.yahoo.com/tech-ticke...lish-on-america-...-and-citigroup-496557.html
'1336 GMT [Dow Jones] Overall, the Bank of Canada's policy statement was unambiguously on the dovish side of expectations, with the bank almost bending over backward to indicate that this is not necessarily the start of a relentless campaign to crank rates higher, says Doug Porter, deputy chief economist at BMO Capital Markets. "The Bank has left its options wide open even on the July rate decision; while we still expect a follow-up rate hike at that time, we continue to believe that the Bank will take a pause at some point this year, particularly with the Fed likely on hold until 2011." (don.curren@dowjones.com)' That seems a silly thing to do. Apparently just wanted to take off the 'emergency levels' and dont have much conviction in what they are doing
I was incorrect with regards the BoC but partially, they did act like chickens, just a hawkish version of them 'Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.' And its funny that they talked about the 'robust' Q1 GDP report, its mostly housing investment, this is going to take down their housing market at some point
I got to say, its getting really tempting to buy BP its trading at 6x trailling earnings(5 forward). 7.8% forward div yield(8.7% current) The total drop of the market cap from the point of the spill is about $70B, this seems to be more than enough to pay all the litigation/fines, compensate for the oil drop and stock market decline. There could be a loss of credibility and possible future business, but that didnt happen with Exxon in 89
I shorted homebuilders today. Mr Mortgage has something to say about the shadow supply http://www.businessinsider.com/mark-hanson-mortgage-foreclosure-2010-6
He was correct and I wish I had the coins he bought, problem is he is not profiting from it. Still long EURs thinking its going to rebound. I guess he doenst seem disintegration anytime soon
Its interesting that the 'blame the EUR' has not arrived yet. In fact the union is still quite strong given all the money moving around. I suspect a default could involve that kind of blame game, if Greece leaves, they wont blame the reform, the might just blame the currency
Here's an article about possible gold peak levels http://www.contraryinvestor.com/mo.htm It all seem interesting but I'm afraid this analysis is irrelevant, what determines the gold price is investor psychology, not rational thinking about economic indicators. The peak will be an arbitrary number in the that day greater fools stop coming