Recent comments by Rajesh

Pigged Hu Knows
Ultrasonic says top executives and cash missing
| Reuters

Ultrasonic AG, a Chinese footware maker listed in Germany, said most of its cash reserves in China and Hong Kong have disappeared, adding it has also lost trace of its chief executive and chief operating officer.

"Most of the company's cash funds at PRC (People's Republic of China) and Hong Kong levels have been transferred being no longer in the company's range of influence," Ultrasonic said in a statement on Tuesday.

Shares in Ultrasonic were down 79 percent at 1418 GMT (10.18 a.m. EDT).

The group's finance chief has informed the supervisory board that he has been unable to reach both CEO Qingyong Wu and COO Minghong Wu since the weekend, Ultrasonic added.

Hu Knows
Ultrasonic says top executives and cash missing
| Reuters

Ultrasonic AG, a Chinese footware maker listed in Germany, said most of its cash reserves in China and Hong Kong have disappeared, adding it has also lost trace of its chief executive and chief operating officer.

"Most of the company's cash funds at PRC (People's Republic of China) and Hong Kong levels have been transferred being no longer in the company's range of influence," Ultrasonic said in a statement on Tuesday.

Shares in Ultrasonic were down 79 percent at 1418 GMT (10.18 a.m. EDT).

The group's finance chief has informed the supervisory board that he has been unable to reach both CEO Qingyong Wu and COO Minghong Wu since the weekend, Ultrasonic added.

Jackdawracy wrote:

When ebola makes it to our shores,

Invest in duct tape producers!

Doc Holiday wrote:

Someone turns 50 every seven seconds.

Most people only turn 50 once!

Mary wrote:

Consider this advice: write a letter to the Secretary of Defense, Mr Hagel, requesting a properly equipped Pfc.

The letter should mention Ebola.

Blackhalo wrote:

A 40% reduction seems, bold.

Next month, they''ll try 100% and see what the market thinks.

Maybe they should change it to "We anticipate considerable stupidity between the end of asset purchase and increases in interest rates".

1 currency now -yogi wrote:

Tracking aggregate GDP is like counting the total number of raindrops on the planet.

Except less accurate.

Don't forget lawyer's fees.

Outsider wrote:

"You wanna be owning stocks"

He could hardly say "You wanna be owning guillotines."

Calpers dumps hedge funds citing cost, to pull $4 billion stake
| Reuters

The $300 billion fund, known as Calpers, invests with firms including Och-Ziff Capital Management (OZM.N), Deepak Narula's Metacapital Management and Bain Capital's Brookside Capital and plans to pull the money out over the next year. The fund will also exit from fund-of-funds Pacific Alternative Asset Management Co and Rock Creek Group.
...
"Hedge funds are certainly a viable strategy for some, but at the end of the day, when judged against their complexity, cost, and the lack of ability to scale ... the ARS program doesn’t merit a continued role," Ted Eliopoulos, Calpers' interim chief investment officer, said in a statement.

Calpers said it will spend the next year pulling money out of 30 firms "in a manner that best serves the interests of the portfolio," he added. Hedge funds often lock up their investors' money for months, if not years.

Discussions about hedge funds' role in the massive portfolio began after Joseph Dear, Calpers' former chief investment officer, died of cancer in February, people familiar with the fund said.

Dear, who joined Calpers in 2009, embraced riskier assets including hedge funds and private equity funds, to help recover losses suffered during the financial crisis when its investments lost 23.6 percent during the fiscal year that ended on June 30, 2009.

But in the last years, most hedge funds have not delivered the out-sized returns the industry became famous for, prompting many pension funds and other large institutional investors to question hedge funds' fees which often include a 2 percent management fee and 20 percent of the gains achieved. Hedge funds returned 4.10 percent this year through August, according to Hedge Fund Research, lagging the Standard & Poor's 500 9.87 percent gain.

Nemo wrote:

I still think a real-life Calculated Risk convention would be a hoot, as long as there were metal detectors at the door

I still think a real-life Calculated Risk convention would be a hoot, as long as there were metal mental detectors at the door Fixed It For Ya

josap wrote:

Shouldn't things be getting here for the Christmas shopping season?

They'll just pull them out of the warehouse.

Sick
Alibaba will raise IPO range to $66 to $68: Wall Street Journal
| Reuters

Alibaba Group Holding Ltd [IPO-BABA.N] is prepared to raise the price range on its initial public offering to $66 to $68 a share, from $60 to $66 previously, The Wall Street Journal reported on Monday, citing people familiar with the matter.

Alibaba's executives are currently touring several major cities on the company's global roadshow. Sources say demand for the IPO, which could be the world's largest, has been strong.

dilbert dogbert wrote:

sits at his right hand.

Reagan sits at his own right hand? How does he do it?

Nemo wrote:

We should hold a Calculated Risk Convention in Vegas.

Don't we have an online convention every day?

Frankly you don't want to be face to face with me.

If we didn't exist, numbers would have to invent us.

Outsider wrote:

Who was the genius who invented negative numbers,

Archimedes was first but the Romans considered it a military technology and kept it secret for centuries.

Jackdawracy wrote:

So I have zero credibility?

Can there be any doubt?

Jackdawracy wrote:

Any chance we can blame any economic downturn on them a-rabs for coming up with the zero?

The Zero was invented in India and then carried by the Arabs and Turks to Italy.

sum luk wrote:

a decade is "any" 10 year period.

The first decade of the twenty-first century is 2001-2010. The second decade of that century is 2011-2020.

You do realize that the FOMC is going to sit around the table at this meeting and discuss what the proper interest rate will be six months from now because they have shown such exceptional ability to predict the path of the economy over that time.

Rob Dawg wrote:

Does a decade start at '10 or '11?

The decade starts at Jan. 1, 2011.

Belmont wrote:

And we will survive.

98.63% will survive, at least.

sum luk wrote:

pure animus

Don't forget stupidity. It's the most important ingredient.

Sebastian wrote:

Just watch the numbers and shut-out the opinions, news and the "expectations"

What should we do when the numbers are a summary of "expectations"?

Jackdawracy wrote:

Obamachev reminds me of a Soviet leader in the late 80's...

But less lifelike.

Paradigm Lost quoted:

it has been possible to identify the Buk missile launcher

Just because you have video of Russian troops shooting down the airliner doesn't mean you have any evidence of Russian involvement in the incident.

Independent Sen. Sanders Thinking About a Presidential Run - NBC News

But Sanders was realistic on the viability of an Independent candidacy. "The truth is, profound anger at both political parties, more and more people are becoming independent, the negative is, how do you set up a fifty-state infrastructure as an independent?" he asked.

Sanders is in Iowa this weekend to test the waters. Lots of potential presidential candidates have descended on the Hawkeye State, including former Secretary of State Hillary Clinton. Sanders said he had a lot of respect for Clinton, but was a little tougher President Obama: "I have a lot of disagreements with him. But the bottom line is: I think he has not tapped the anger and the frustration that the American people feel on many, many issues."

Swedish Opposition Ousts Government Without Gaining Majority - Businessweek

Sweden’s Social Democratic-led opposition looks poised to rule as a minority government after a surge in support for the anti-immigration Sweden Democrats sets the largest Nordic economy up for a hung parliament.

The three-party opposition is poised to win 44.8 percent, versus 39.7 percent for the four-party government of Prime Minister Fredrik Reinfeldt, according to an exit poll by state broadcaster SVT. The Sweden Democrats won support from 10.5 percent, which would make it the third largest.

The result, if borne out by the final count, marks an end to eight years of rule by Reinfeldt’s conservative-led coalition, which has cut taxes and scaled back some benefits programs. The Social Democrats and their allies say the measures have eroded Sweden’s welfare system, arguing the policies failed to tackle Scandinavia’s highest unemployment.
...
The Social Democrats plan to reverse almost one-third of Reinfeldt’s roughly 130 billion kronor ($18.3 billion) in tax cuts. They plan to spend the money on education, more public sector jobs and more generous jobless and sick-leave benefits.

Loefven says the tax cuts have done little to help the labor market as Swedish unemployment hovers at about 8 percent, the highest rate in Scandinavia.

Citizen AllenM wrote:

The greyboomer retirement will suck folks, for all but the top 10%,

Same as it ever was.

mr_clueless wrote:

so t is when the bond buying stops?

No, it's when we escape from the zero lower bound of interest rates.

World waits for white smoke from U.S. Fed
| Reuters

Further hints as to when the first U.S. rate hike in more than eight years will happen could come on Wednesday in a statement after the bank's governors meet.

"It does seem like a done deal that it is going to increase interest rates," said Paul Dales of economics consultancy Capital Economics.

"We are going into a new phase where the Fed is trying to bring things back to normal. It can send reverberations around the world economy."
...

Hu Knows

China's central bank, like many of its global peers, has been pumping out cash to support the economy, raising the cost of living in cities such as Beijing, where a large two-bedroom flat can cost $1 million and a Starbucks coffee up to $6.

The government has been slow to implement reforms to dilute the power of big state-owned enterprises such as China Telecom to make space for smaller start-ups.

"Cutting interest rates may be possible if inflation falls further," said Zhu Baoliang, chief economist at State Information Centre, a top government think-tank in Beijing. "It's time to quicken reforms."

For others, China's slowdown is more than just a temporary phenomenon and may even require a rethink about basic principles of economics with its relentless focus on growth.

"It's a long-term trend that we are seeing here," said Guntram Wolff of Brussels think tank Bruegel.

"We are seeing the limits of the growth model in the developed economies."

mr_clueless wrote:

what is t minus fourteen months?

Liftoff of Monetary policy.

Citizen AllenM wrote:

ebola looks to be a really large disaster for subSaharan Africa.

Is that bullish for Healthcare stocks?

T minus fourteen months and counting...

EU Finance ministers call for more of what hasn't worked so far.

With Europe's economy struggling to recover from the worst financial crisis in a generation, EU finance ministers tasked the European Commission, the EU executive, and the European Investment Bank (EIB) to draw up a list of projects that would create growth and decide how to finance them.

"We have given a mandate to the Commission and the EIB to swiftly present an initial report on practical measures that can be taken, on profitable investment projects that are justifiable," Italy's economy minister, Pier Carlo Padoan, told a news conference.

Just a few more bridges to nowhere and the economy will be right as rain.

energyecon linked:

growth slows to five-year low

That'll buff right out.

Scottish Independence would be a perfect time to devalue the Scottish Pound to say 95 Euro cents so workers would be competitive when they finally join the Eurozone.

Mark Twain: The Worst Month To Speculate In Stocks In

“October. This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February.” -Mark Twain

Putin is just following the golden rule: do unto others before they do unto you.

Brazil prosecutor asks for freeze of Batista's assets, property
| Reuters

In a statement on Saturday, the prosecutor's office said that Batista deceived investors with a "simulated" promise two years ago to invest $1 billion in oil company OGX, now known as Oleo e Gas Participacoes SA, if shares fell to a certain level. Batista failed to fulfill his promise, known as a put option, when the shares touched that level.

Batista is also accused of using privileged information on several occasions last year to make a profit of 236 million reais with the sale of company stock, the statement said.

A representative for Batista and his industrial group EBX could not be reached for comment on Saturday. Batista has repeatedly denied any wrongdoing in previous public statements on the case.

OGX filed Latin America's largest-ever bankruptcy-protection petition in Rio last October after its first oil wells produced less than expected and investors lost confidence in the company's ability to keep up with debt payments and finance new oil-field development.

The prosecutor's office said Batista knew in advance that those wells were not worth the price of the stock. It said the charges against Batista could carry up to 13 years in prison.

Belmont wrote:

We've fracked our way to the top.

Too bad we're in a race to the bottom.

Rob Dawg wrote:

The Fed has got to be somewhat concerned with ongoing commodities price declines.

Plosser feels it requires an immediate rate hike.

Nemo wrote:

WILL THEY CHANGE THE LANGUAGE?

I think they'll stick with English or something close to it.