Good Morning, Afternoon (forgot to click publish)
Since Anglo American Platinum Stock Rises on Bokoni Mine
Sale Report my shed is up for sale circa $100M it
has zero IRR, zero risks of write-downs likely in the short-term, zero
strike risks and best of all, save for changes in the council tax system it'll
be fairly cheap for care and maintenance. If one still isn't sure, you can pay
my salary as well just to make you feel like you're getting a really good deal!
Still tempted...
Tonight is a gathering of the unfamous and disliked for
the Christmas cheer of the informal works do. We felt as though we were missing out
on the festivities being locked up in rooms shorting stocks it was unfair! As
such, contrary to people's belief that we don’t do positives, tonight will challenge that. With some bigwigs volunteering themselves to come along, they must be
in good spirits, they’re in for a shocker! Will they admit to dining with yours truly...not likely!
Saying that with the FED news and witching upon
us tomorrow a higher proportion of rollovers after the FED move
and traders getting more than they expected in bonuses! The Christmas rally...what's
left of it post the carnage of Oil and Russia. One just needs Venezuela's default
risks to be realised and a default on debt now looking likely. All those income
/ interest hungry folk best have adequate protection. If you rate
junk as low risk you get what you deserve.
Quite how Petroleos de Venezuela SA got
debt away at 5.25% circa is staggering; when's the next payment? Not to worry the internal defaults are
just as likely. So its over to Venezuela to decide when to default.
Contagion is unlikely in the short-term but one would be wise to view the
situation as the indicator of all developing countries (loose term) whom are
reliant on Oil Revenues...and Russia.
With copper prices being under stress one's reliably informed that Russian commodity traders are slopping
the stuff out on the market (including off market deals) to get the cash in the
coffers. Copper's supply appears to be stacking up, unless
this is a short-term trend expect CU to follow others with significant drops,
Short one today (I know), as plenty to do to close down for Christmas.
It's hoped there can be a catch up on a few items that should be covered if
not, put it just behind Ian's LGO Vs MOG promises!
Atb Fraser
Fraser- Hi- Back from another Xmas get together- I had no idea how many people I worked with but its nice to catch up on their escape plans or evasion of capture (like me). Im active next week as some of the sneakier AIM usual suspects will probably sneak out their dastardly plans to raid their shareholders or dig more holes and I will be keen to ensure my motley crew aren't trying things on. Just 5% of my portfolio but v volatile at the best of times.
ReplyDeleteRe Venezuela - yes, as discussed a queue of 27 arb cases have either had their decisions made versus V or are in line-- Mr Chavez did nationalize with no thought of the consequences and the chickens are now coming home to roost when the oil price has halved. Default must be as certain as an X factor Xmas No 1 most years. Perhaps they need to read the story re the Argentinian default a few decades ago to see how this will need to be played out. It wouldn't be pretty and Im glad I have zero exposure.
Re Tonights party- will all have to wear shorts ?? and will an Atlas shareholder be giving the after dinner speech?? I thought not.. Have fun and have drink for the Stale Longs who continue to deal in an "honest" manner :-))))
Cheers. The Leggie
Merry Christmas Fraser. Watching emc turn from arbitration cases and investments to where it is now deserves credit. Just today the drax commentary from April justifies a premium on these pages. There is gossip that your wisdom will not be for the general public for much longer. What a loss to ml and here. Congratz on coffee calling the supply issues false. What next semi meaty beef JT
ReplyDeleteFraser is this is true Dont doubt you have a living or money to make but reading your commentary yours so far on the ball do you want to? orogen plc is a good example. Merry Christmas Tom
DeleteJP. Indeed the start of Christmas or is it the start of festivities for Christmas. One will have to wait and see re: gossip now Ian let the cat out the bag by approving your comment! Coffee was over roasted on supply fears and fear by the likes of Kraft hedging in market on panic. Re: DRX Drax the risks of pricing impacting longer term and coal are having a further drop I've got no current position awaiting further direction.
ReplyDeleteCheers F off to Xmas do!