Hello CB, I had the impression, however vaguely, that BMW had exited Rover but retained Mini Cooper, but I was too lazy to google for the new ownership scheme. There are so few acquisition-capable car companies left in the world, and of the ones remaining, many make money from financial engineering as opposed to automotive mechanics.
The French, German, UK, US drama is interesting. I think there may be a series of misunderstandings somewhere, and I figure the misunderstandings will be straightened out by the coming elections in each country when their electorates state clearly what the chosen politicians are mandated to do.
<<… not ticked off at the Germans, just the French. Attitude, I suppose. The French have it, the Germans don't>>
I think it really is as simple as all that, but it is good that the world has both types.
<<The American economy hasn't really sputtered yet. Amazing, that. I kind of wish it would as I've started hankering to handle more bankruptcies. I like the lack of stress entailed in bankruptcies, for me, anyway.>>
… what has happened to you?! You are using words like ‘yet’ and exhibiting traits to deal happily in an otherwise dire situation?
<<We managed to refinance (did I already tell ya'll this?) at 5.25%, two weeks too late for 5 1/8, which was offered, but my husband dilly-dallied hoping for 5.>>
… Yes, I do remember, and recall that I commented at the time something to the effect of ‘take the money and run while the running is good’.
I had come to believe that Greensputin and BurnAndKaput can hold the show together, in cooperation with other central banks, for much longer than I previously thought possible, and have been ‘playing the market’ and even tag-along with some of Pezz’s trades to pass the time. So far so good.
I was conversing by phone with an LA based funds manager (he has a multitude of fund managers working for him, using all different styles and exploiting various markets in a bunch of geographies), and he is:
- staying clear of USD space
- is in Euro by default, believing all cash is trashed
- staying far from equities
- staying away from bonds
- dabbling warily in Japan for the first time in a long time
- owning Carolina Group (cigarettes) with trepidation
- buying Shanghai real estate
- not believing in China equities
- not considering physical gold as an asset class for serious amounts of money
- figuring Newmont Mining is too small and too expensive
Sensing that he has ran out of ideas to lose money, I pointed him to Canadian energy royalty trusts and very large crude carrier operations.
Chugs, Jay |
