Global Investing Roundups Tuesday, January 6th, 2009
Source: http://feeds.feedburner.com/~r/ContrarianProfits/~3/504245274/10871Posted on Tuesday, January 6th, 2009 | In Market Commentary
Contributed by: Contrarian Profits (http://contrarianprofits.com) -
Borders Ousts CEO; Front Page Ads in New York Times; Steve Jobs Speaks, Apple Soars; U.K. Short Selling Ban Ending; Whitman’s Future; Oil Rises on MidEast Violence; Russia Cuts Gas Supplies to Europe
- Borders Group, Inc. (BGP) ousted its Chief Executive George Jones and replaced him with outsider Ron Marshall, a Wildridge Capital Management executive whose primary experience is turning around ailing companies, Reuters reported. George had been Borders’ CEO for the past three years.
- The New York Times Co. (NYT) opened its front page to advertisers, a controversial move within journalism circles but also one that follows rivals the Wall Street Journal and USA Today. The ad space is two-and-half inches high and runs across the bottom of the page, Reuters reported.
- Apple Inc. (AAPL) investors and fanatics breathed a sigh of relief when Steve Jobs said in a letter that his much rumored weight loss is likely due to a hormone imbalance and that he would remain as chief executive, CNNMoney.com reported. Apple’s stock responded accordingly, moving 4.22% on a day the tech sector was mum.
- On Jan. 16, the United Kingdom said it will lift the temporary short-selling ban on 34 of its financial companies, Bloomberg reported. The ban was introduced in September because short selling was believed to be the cause for market instability.
- Former eBay Inc. (EBAY) chief executive Meg Whitman – one of the people mentioned by John McCain in his presidential campaign as a possible nominee for a cabinet post – might run for political office in California, The Associated Press reported. Whitman resigned from board December 31 for personal reasons. Whitman resigned from the boards of The Procter & Gamble Co. (PG), eBay and Dreamworks Animation SKD (DWA) all as of December 31.
- Light, sweet crude for February delivery yesterday (Monday) rose $2.47 cents to settle at $48.81 a barrel on the New York Mercantile Exchange, as Israeli forces seized control of high-rise buildings and attacked houses in the Gaza Strip.
- Russia yesterday (Monday) reduced gas flows to Europe via Ukraine by one-sixth, a measure intended to stop its neighbor siphoning off fuel, Reuters reported. Russia cut off gas supplies to Ukraine on New Year’s day but several countries in southern and eastern Europe have reported new falls in gas supplies from Russia. About 80% of Europe’s gas supply passes through Ukraine.
Source: Global Investing Roundups Tuesday, January 6th, 2009
Last 5 posts by Contrarian Profits
- How and Why China Will Flood the Gold Market - November 25th, 2009
- Gold – getting in while the bull’s still hot - November 25th, 2009
- Gold – Not the end, but possibly a correction - November 24th, 2009
- How do retail sales stack up in an atypical recovery? - November 24th, 2009
- The Best Energy Investments in the World - November 23rd, 2009
Tags for this Post:
animation, Apple Inc, bloomberg, Borders Group Inc, California, contrarian profits, Dreamworks Animation SKD;, Eastern Europe, eBay Inc., Europe, gas flows;, gas supplies, gas supply passes;, Gaza Strip;, George Jones;, john mccain, Market Commentary, Marshall;, Meg Whitman;, New Year's Day, New York Times, Reuters, Russia, Russia Cuts Gas Supplies;, Steve Jobs, Steve Jobs Speaks;, The Associated Press, The New York Times Co.;, The Procter & Gamble Co.;, Ukraine, United Kingdom, Usa Today, USD, Wall Street Journal, Wildridge Capital Management;
animation, Apple Inc, bloomberg, Borders Group Inc, California, contrarian profits, Dreamworks Animation SKD;, Eastern Europe, eBay Inc., Europe, gas flows;, gas supplies, gas supply passes;, Gaza Strip;, George Jones;, john mccain, Market Commentary, Marshall;, Meg Whitman;, New Year's Day, New York Times, Reuters, Russia, Russia Cuts Gas Supplies;, Steve Jobs, Steve Jobs Speaks;, The Associated Press, The New York Times Co.;, The Procter & Gamble Co.;, Ukraine, United Kingdom, Usa Today, USD, Wall Street Journal, Wildridge Capital Management;
ContrarianProfits.com is a financial news and opinion website with a twist. As investment guru Rick Rule puts it, “You are either a contrarian or a victim.” In the financial world, most people are losers because they just don’t know what game they’re playing. They think they can just get “into the market” along with everyone else, do what everyone else does, and they will make money. Not likely. By the time you’ve paid commissions, spreads, fees, taxes – and suffered the consequences of inflation – you’ll be very lucky just to have as much money as you started with.
ContrarianProfits.com is a contrarian site, in the sense that we provide ideas, opinions and recommendations that often run counter to the mainstream financial press. We do this not just to be contrary, but because we’ve realized that Rick is right. You don’t make money by following the crowd; you make money by leading it.
Why is this so? Well, it’s obvious that if you do the same thing everyone else does you’ll get the same results everyone else gets. On average, and over the long run, real investment returns for the typical investor cannot exceed the rate of growth of the economy itself. Everybody can’t get richer faster than everybody else. Real economic growth in the US today averages about 3% per year; if you don’t make any mistakes, that’s about what you can expect. Few people may be satisfied with 3% per year, but most feel comfortable in the middle of the financial herd and are happy to take whatever that gets them. If you’re one of those people, you will probably not like our site. It will make you uncomfortable.
If, on the other hand, you’re willing to look at things a little differently, you’ll appreciate the views of many of our columnists, contributors and visionaries.
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.