Warren Buffett to remain bearish August 25, 2008
Posted by mylastresort in analysis.Tags: Berkshire Hathaway, economy, inflation, investment, recession, US, Warren Buffett
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In a recent article Warren Buffett claimed that the expects a few more bank failures and claims the housing market to remain ‘tough’ over the next 18-24 months. He anticipates a slow recovery in the US economy and does not expect any improvement prior to 2009. Buffett added, Berkshire Hathaway has no bets right now on currencies but is calling the stock markets ‘more attractive’ than a year ago.
This week Warren Buffett toured Canada’s oil sands with his friend Bill Gates this week to understand how the resources are developed, but the billionaire investor said he had no plan to buy into the sector.
“No, no. I go to the movies, but I don’t buy movie companies. I mean, I’m always interested in understanding the math of things and understanding as much as I can about all aspects of business… And what I learn today may be useful to me two years from now. I mean, if I understand the tar sands today and oil prices change or whatever may happen, I’ve got that filed away and I can use it at some later date.”
– Warren Buffett
Hedge fund returns 1000% in 2007 March 23, 2008
Posted by mylastresort in analysis.Tags: analysis, Andrew Lahde, Capital, Commercial, Credit, Ethic, Exceptional, Fund, Gain, Hedge, Hedgefund, investment, Lahde Capital, Loss, losses, Manager, Millionaire, Money, Moral, Mortgage, New Millionaires, New Money, Performance, Ranking, Real Estate, recession, Residential, Return, Slowdown, subprime
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One of the most successful hedge funds of all time earned over 1000% in one year betting against the subprime market. Andrew Lahde’s Lahde Capital, is a small California-based hedge fund which made a massive bet against the subprime market late in 2006. This bet has proved to be successful and has returned a whopping 10x for its investors.
“Our entire banking system is a complete disaster. in my opinion, nearly every major bank would be insolvent if they marked their assets to market”
– excerpt from Andrew Lahde’s letter to shareholders
Lahde’s strategy was to (more…)
Gold (XAU) crossing record level March 13, 2008
Posted by mylastresort in analysis.Tags: Economics, economy, Fear, FED, Federal Reserve, global, Gold, Market, recession, Safe haven, Tennis court, USD, XAU
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Gold is regarded as a safe haven for investments. It is a scarce commodity. It is said that if you collect all the Gold excavated all-throughout history it would be the size of a standard tennis court (length x width x height).During times of a recession or fear in the market speculators usually flock to Gold. As per my previous posts I have given my analysis of the markets and the effects on the global economy. As Gold crosses never before seen levels it is proving that the economic events taking place are in fact serious and should be feared.
Gold (XAU) crosses $1,000
USD all-time low vs. Euro, KWD highest since ’88 March 10, 2008
Posted by mylastresort in analysis.Tags: EURO, kuwait, KWD, Major currencies, Non-farm jobs, recession, Record, Swiss franc, US, USD
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Kuwait lets dinar rise for 5th day, highest since Jan ’88
The euro rose 0.2 percent to $1.5381
The dollar slipped back toward a record low against the euro and an eight-year low versus the yen on Monday, after surprisingly weak U.S. jobs figures heightened concern the U.S. economy may have fallen into recession.
The dollar took a beating on Friday after data showed U.S. employers unexpectedly cut 63,000 non-farm jobs in February, the steepest rate of job cuts in nearly five years. The news heightened worries that the U.S. economy had slipped into recession and sent the dollar tumbling to record lows against the euro, the Swiss franc and a basket of major currencies, and to eight-year troughs versus the yen.
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