The November edition of Donald Coxe’s Basic Points research report (subtitled “The Power of Zero”) has just been published. His investment recommendations, as summarized in this document, are listed in the paragraphs below, but I do recommend you also read the full report at the bottom of the post. (Also note that Donald’s weekly webcasts can be accessed from the sidebar of the Investment Postcards site.)

1. Remain underweighted in US equities-as a percentage of total equities within global portfolios, and as a percentage of assets in US balanced portfolios. Underweight US bonds in global portfolios.

The Obama long-term financial projections for the US are high risk and unsustainable. Forthcoming elections-or a currency crisis-could induce some discipline, but within the OECD, the US should probably no longer be accorded top ranking for bonds and stocks.

2. Within the US market, underweight US economy-related

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By Cees Bruggemans, Chief Economist FNB.

The SARB leading indicator peaked at 127.2 in March 2007, thereafter declining for two years, initially gradually during 2007 but acquiring freefall proportions in 2008.

This indicator hit a cyclical low of 105.3 in March 2009, thereafter rising very rapidly to 112.5 by August 2009.

Given the events of 2008 and early 2009, there presumably exists no surprise regarding the indicator’s freefall in 2008. But what has made it rise so phoenix-like rapidly since March this year?

As per the June 2007 issue of the SARB Quarterly Bulletin, this leading index today is a composite of twelve individual time series which together offer superior forward-looking ability regarding the South African business cycle, leading turning points by some six to nine months.

The twelve time series can be grouped in four distinct sub-categories, each making a peculiar contribution to the behaviour of the composite

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We have just received a copy of an open letter from Amnesty International Canada to Canadian Prime Minister Stephen Harper in advance of his upcoming trip to the forthcoming APEC meeting in Singapore, followed by a visit to India. The letter urges Prime Minister Harper to uphold Canada's well-known reputation as a staunch human rights supporter by raising concerns with and presenting recommendations to Singapore authorities regarding the case of Dr. Chee Soon Juan and other civil society representatives and to address ongoing human rights challenges in India. Below is an excerpt from the letter, followed by a link that will allow you access to the letter in full.

Singapore has two realities: its appearance as a progressive country with regular elections and economic success; and its record of human rights violations designed

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The last week of October was a tense time for the bureaucrats at Minprirody, Russia's Ministry for the Protection of the Environment and Natural Resources, and naturally for Minister Yuri Petrovich Trutnev. He went all the way to Cape Town, South Africa to participate in the work of the eighth session of the mixed intergovernmental committee for trade and economic cooperation between the Russian Federation and the Republic of South Africa.

Если Вы хотите прочитать оригинал данной статьи на русском языке, нажмите сюда.

From there, a mad dash to Namibia, to a meeting with Namibian President H. Pohamba and Prime Minister N. Angula, as well as with first president S. Nujoma and Minister of Mines and Energy E. Nghimtina.

And it wasn't questions

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Tracing the policy movements of Presidential power-handler Vladislav Surkov is rather like witnessing a three-point turn in a dark alley - as a piece in the Power Vertical points out today.  Whilst transparency is the last thing once can expect from the Kremlin's shadowy ideologue, his moves of late are dizzying analysts.  Brian Whitmore identifies some of Surkov's recent twists - from the motives for his alleged involvement in the Duma walkout - to the matter of his oscillating stance on liberalizing political structures to aid economic development.Whitmore quotes from a Stratfor.com analysis, which suggests that Surkov's maneuvring is underpinned by a familiar motive: power rivalry.  In a recently published four-part series titled "The Kremlin Wars," Stratfor.com offers up one possible answer.According to Stratfor, the Kremlin is divided into two roughly ...

By Cees Bruggemans, Chief Economist FNB

These are dynamic times in which few things remain the same for long. What surprises could await us these next six to twelve months?

Externally, there has been plenty of warning of a long period of near zero interest rates at the global centre (America, Europe, Japan) while growth and yield remains most attractive in the periphery (Asia, Latin America, other Middle Eastern and African commodity producers).

These past six months this condition has pushed global equity and bond prices higher, while favouring a steady liquidity leakage from the global centre to the periphery, giving many emerging asset markets a double leg-up while also firming their currencies.

The main likelihood for the next twelve months (or longer, bearing in mind the evolving nature of the shaping global expansion) is that these processes will continue. By implication expect more asset price gains, especially in

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Reuters reports that next week Vladimir Putin will hold a meeting with global oil giants on how to exploit gas reserves on the Arctic Yamal peninsula.  Natural Resources Minister Yuri Trutnev has told Reuters that Russia will consider easing laws regulating foreign participation in offshore energy projects, which had been restricted during the 2002-July 2008 boom in oil prices.  Rosneft has apparently said that it will not be able to maintain the high level of oil exports that has seen Russia overtake Saudi Arabia as the world's biggest oil producer, as the domestic market will become more alluring to oil producers.  The President of OPEC has reportedly argued that the cartel must improve cooperation with Russia in order to keep prices stable.  Bulgaria has agreed to continue preparations for the Russian-backed Belene nuclear plant, South Stream and ...

Hyperdynamics Corp. is an independent oil and gas company with operations in the Republic of Guinea which is located in West Africa. The company has the sole exploration and production rights over Guinea’s offshore region, which covers about 31,000 square miles.

Today there are few regions in the world that offer the opportunity to find world-class oil and gas reserves. Some of the regions include the deep waters of the Gulf of Mexico and offshore Brazil. Another current hotbed of lucrative exploration activity is the waters offshore of western Africa. Hyperdynamics’ license is the largest offshore exploration license in West Africa

The company announced yesterday that Hyperdynamics’ CEO, Ray Leonard, and the minister of mines, energy and hydraulics for the Republic of Guinea, Mahmoud Thiam, have signed a memorandum of understanding. The memorandum of understanding is a binding agreement which reaffirms the validity of the company’s concession.

Key terms of the

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So why don't I have more interest in digging around the ghost ship story?  It has all the hallmarks of the kinds of stories we like to cover around here - with siloviki, arms, corruption, and cover-ups - but untangling all the conflicting versions just doesn't seem too rewarding.  It's a strong reminder that nobody can produce so many stories of diametrically contradicting headlines as Russia.  Today for example, Russian officials have gone to the press to angrily deny that there were ever any arms on The Arctic Sea ship:Speaking to reporters, Russian Foreign Minister Sergei Lavrov dismissed the reports: "This is absolutely not true." (...)"All will become transparent, and I hope that everyone will be convinced ...

Back on Jan. 20, 2009, a 35-year-old previously convicted criminal named Sergey Vlasenko was driving a MAZ truck with a semi-trailer on the road leading from the Volgogradskoye chaussée to the settlement of Konstantinov of Ramenskoye Rayon of Moscow Oblast in mid-afternoon on a clear day. Traveling at high speed, Vlasenko's vehicle struck a GAZ Gazelle which was parked on the shoulder of the road. As a result of the the accident, both passengers sitting inside the Gazelle, I. Yefimova and S.Mustafayev, were killed. Charged with an offense similar to vehicular manslaughter under article 264 part 5 of the Criminal Code (CrimC) of the RF, Ramenskoye City Court Judge T. Bayeva sentenced the

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