Salient to Investors: Global investment banks based in Europe and the US are losing market share in emerging economies to smaller domestic competitors. Freeman & Co. said the share of fees for US and Western European banks in Latin America, the Middle East, China, India, Russia and Eastern Europe fell
READ MORE... →Salient to Investors: David Lennox at Fat Prophets said there’s more confidence in the dollar relative to other trading currencies as confidence grows in US growth. Lennox said a decline in ETP holdings may also pressure gold prices, though price declines may be capped as North Korea conducted its third nuclear test
READ MORE... →Salient to Investors: The median analyst expects gold to advance to $1,825 by the end of 2013. Russia is the world’s largest oil producer and gold buyer. The IMF said Russia added 570 metric tons of gold over the past decade, a quarter more than runner-up China. Tim Ash at Standard Bank
READ MORE... →Salient to Investors: Hedge funds et al boosted net-long positions across 18 US futures and options last week, marking the longest stretch of gains in more than 6 months. Michael Strauss at Commonfund said economically sensitive commodities will do well in a favorable global environment for commodities. The Intl Copper Study Group and Johnson Matthey estimate the
READ MORE... →Salient to Investors: Jim Rogers says: Losing money when you are young teaches you a lesson about the market and about yourself. Go where the people don’t go. Just wait until you find something that you know about to invest in. Better to get 1% from the bank than lose
READ MORE... →Salient to Investors: China surpassed the US to become the world’s biggest trading nation in 2012. Jim O’Neill at Goldman Sachs said China is becoming rapidly the most important bilateral trade partner for many countries – Germany may export twice as much to China by the end of the decade as it does
READ MORE... →Salient to Investors: Michael Holland at Holland & Co. said earnings outperforming estimates is generally supportive for stocks, and the growing global economy bodes well. 75 percent of the 341 S&P 500 companies that have reported Q4 results have beaten estimates. The S&P 500 is at 14.96 times earnings versus the 16.61 average since 1954.
READ MORE... →Salient to Investors: James Paulsen at Wells Capital Mgmt said people are finally deciding that this looks more like a sustainable recovery. 75 percent of 341 S&P 500 companies so far reporting have beaten estimates, 67 percent have beaten sales estimates. The S&P 500 P/E is at 15 versus the average of 16.6
READ MORE... →Salient to Investors: JPMorgan Chase, Barclays, and Morgan Stanley upped Q4 GDP estimates to show a gain. The US trade deficit in December narrowed to the lowest since January 2010 and lower than 73 economist estimates on record petroleum exports. The US met 84 percent of its own energy needs in the first
READ MORE... →Salient to Investors: Google Chairman Eric Schmidt is to sell as much as 42 percent of his holdings for asset diversification and liquidity. Read the full article at http://www.bloomberg.com/news/2013-02-08/google-s-schmidt-sets-plan-to-sell-as-much-42-of-share-holdings.html Free email alerts of articles as soon as they are posted.
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