To All, Barron's mini-review. This issue was written for CFZ types. Must be why so many copies were shoplifted today. <g>
1. Abelson is acerbic, as always. He mentions that we should hurry up and get done in Iraq so the market can go down for the real reasons. He also quotes cockRoach from Morgan Stanley. He throws some ice water in the face of bears by imagining what could happen if Rosy Scenario wins the day. Then has the pretty young flight attendant (It's a fantasy, you know) bring us a hot towel by mentioning that Rosy's odds are 3-1 against. He mentions the demise of biotechs, one of my particular favorites, where I have lately been long and wrong. And the resurgence of oils, where I've also been long and wrong. Hmmmm, I'm seeing a pattern here. <g>
2. A nice piece on the rise in commodity prices. They seem to come down negative on oil and platinum but positive on gold, silver and corn. Also, they mention one of my favorite paired trades, which is long oil stocks and short the futures. Which is why I've been long and wrong the oil stocks. But that's o.k., my shorts are going up. Arghhhh! However, I know it is a temporary mismatch and I have my arms crossed and chin stuck out like Mussolini.
3. A great article on hedge funds. Wake up America. Everyone knows that hedge funds outperform indices and mutual funds, but this article says they also do so with less volatility. At major brokerage firms, a client has to have big bucks to get into hedge funds, but anyone can buy indices and mutual funds. Say, what????? Who passed a law saying only rich people can get richer? Oh, I forgot, the rich folks pass the laws. However, take the stats with a grain of salt on this one. The time frame he uses reminds me of the scams the "run and gun and never give it a thought" funds were advertising back in the 90s. You can prove nearly anything in financial areas if you pick your time frame correctly. And the author advises hedge funds of funds, which I find among the most boring of the class.
4. A puff piece on Cathay Pacific. I love China and India as investments, but even I don't have the guts to buy into an airline. Yes, this one makes money. For now.
5. A nice article on Bummy, otherwise known as Bristol-Myers. They like it. I'm from Missouri and this management has yet to show me they can walk and chew gum at the same time.
6. A CFZ keeper article about Paul Stuka, who runs Osiris Fund. A long short fund. He loves gold and silver. Top stock: Hecla. He also likes a few small tech cos and some pharma/bios nobody has ever heard of. He hates Northern Trust. Bully for him. What a piece of crap they are. They are #1 with super-wealthy investors. But they invest like idiots. However, they offer you Starbucks Mocha-Java when you visit and have nice leather chairs and wood panels. I guess that makes up for losing a huge chunk of your wealth due to brain-dead investing. Oh, well, I can look at it as less donations for the evil Republican Party. <VBG>
7. A full page on Royal Gold. Dummies buying, insiders selling, according to Rhonda. She makes a real good case.
So, pony up the $3.50. This one is a keeper. |
