John Angstrom

43 Comments

    • Hedge Fund Manager's Notebook: Blood on the Streets - Buy Russia [view article]
      Anyone stupid enough to invest in Russia deserves to lose all their capital. The "buy when there is blood in the streets" rule applies only in countries where there is rule of law. When oil goes down to $30 again, Russia will fall apart. You can't sustain a country spread over eleven time zones on a per capita GDP of $15,000 and a population expected to fall from 140 million to 100 million by 2050. Putin's wet dream of recreating the superpower is a delusion. Aug 21 09:32 PM
    • Dollar Rally Won't Last Forever; Don't Give Up on Gold [view article]
      You had a downdraft from people who sold out of commodities funds and ETFs, which created selling in gold. If oil and gold were truly correlated, gold would have gone up between March and July, just as oil did, but it didn't. This is a technical sell-off. One the sector rotation hysteria subsides, gold will likely rise again. And once people face up to the fact that we are only in the 4th inning of this crisis, it will rise again beyond $1000. Aug 14 05:15 PM
    • Gold Investment Fundamentals and the Transfer of Capital [view article]
      With CPI inflation at 5% and PPI at 9%, and fed funds at 2%, the case for gold makes itself by itself. Aug 06 06:57 AM
    • Has Whole Foods Lost Touch with Its Customers? [view article]
      If you think the economy and stock market are rebounding, you have to buy it. If you think we will spiral down, stir clear. This may seem simplistic but I bet it's valid. Aug 06 06:52 AM
    • Global Investing, BRIC by BRIC: Part II [view article]
      Martin, Martin, what happened? At Prudent Bear, you're all doom and gloom and here you make recommendations, as if the end of the world is postponed. Don't let me down, pal, I may have to get long again if you keep it up. Always good stuff though. Aug 05 02:44 PM
    • Should I Buy Fannie or Freddie Stock Today? [view article]
      wait, is this a trick question? It is, isn't it? Jul 14 01:42 PM
    • Parsing Paulson: The Fannie and Freddie Bailout [view article]
      This is too complicated for my little brain. They should let them fail and be done with it. One of the rules of capitalism is to punish the foolish, incompetent and crooked. Jul 14 10:37 AM
    • Treasury Bailout of GSEs: Laissez-Faire In Serious Jeopardy [view article]
      Buy gold and take a few years off. The Fed cannot control this problem which is too big, except by printing massive amounts of money. This means high inflation. Buy a wheelbarrow too, you will need it to haul the cash you will spend at the grocery store. Jul 14 08:26 AM
    • Bill Gross To 'President' Obama: Double The Deficit [view article]
      The economy will be bad and the next prez will be a one-termer. So if you take the long view, maybe it's better if your party loses this time and you can blame it all on the other party. Jul 01 07:49 AM
    • Oil Bubble: How Speculation May Contribute to Recent Moves in Oil Prices [view article]
      Paultaut, "speculators help keep our markets fairly stable?" Please don't make me laugh. All of Wall Street would be insolvent and taking the whole economy down the drain, were it not for Bernanke's emergency cuts, which may not work in the end.
      May 19 08:42 AM
    • Oil Bubble: How Speculation May Contribute to Recent Moves in Oil Prices [view article]
      I don't buy your argument at all. Most of the surge from $60 to $125 occured after the Fed started slashing rates. There is a high probability therefore that this is a speculative bubble, unless you believe in the uncanny coincidence that demand/supply deteriorated at precisely the same time as the Fed cuts.

      The price of oil is highly manipulated. Not a week goes by without news of production problems in Saudi and Russia. And guess who is giving us this news: the Saudis and the Russians.

      Speculators should be banned from the commodities market. It is really a disgrace that people would jump ahead of buyers who really need a product, just to make a buck. Think of food commodities, now out of reach for many families in other countries, while the fat cats at hedge funds get fatter. Shameful.       May 19 08:28 AM
    • Time to Buy Gold [view article]
      I am with you. I think we may see $2,000 within 12 months. Inflation is out of control, especially at the PPI level, now at 7% and rising.
      May 19 05:35 AM
    • A Sideways Market For the Next Decade? [view article]
      Cam, I also disagree but in a different way. I think stocks will be lower 10 years from now, not sideways. The current market is supported by a commodities/cyclical bubble and as you pointed out correctly, the market PE does not account for cyclicality right now, and is too high.

      Saul (Crossprofit), your analysis is correct except for the fact that most stocks trade at a significant premium to book value already. During inflationary times, there will be goodwill compression even if book value grows, resulting in an overall decline in market cap for most companies.       May 16 07:24 AM
    • The Fed's Secret Guests [view article]
      Fedhed you are not entirely correct. The info below is from this website

      www.federalreserve.gov...

      Who owns the Federal Reserve?
      The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

      As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

      The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

      May 15 10:51 AM
    • The WSJ Is Wrong on the Housing Crisis [view article]
      stu, that is hilarious! He better hope the crisis is over with these positions May 07 12:12 PM
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