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Friday September 18, 2009

DrStockPick.com Stock Report!

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Cavico Corp. (NASDAQ:CAVO), a leading infrastructure development company based in Vietnam, announced today that its common stock has been approved for listing on The NASDAQ Capital Market under the ticker symbol CAVO. Trading on The NASDAQ Capital Market will commence today.

Avago Technologies Limited (Nasdaq:AVGO), a leading designer, developer and global supplier of analog semiconductor devices, today announced the early tender results for the cash tender offer by its wholly owned subsidiary, Avago Technologies Finance Pte. Ltd.

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My most recent post on mall REITs (SPG in particular) got me thinking about Sears Holdings, a company that I disparaged a few weeks ago in a post called, “Unsuccessful Profits.” More particularly, my chart on REIT valuation based on square footage owned made me wonder.

Aas you can tell, price per square foot data can vary quite significantly. Not all square footage is created equal and, ultimately, it’s how you monetize your square footage which really matters. In the case of Sears, though they own a significant amount of retail square footage, the majority is leased to its own businesses which have performed in lackluster fashion to say the least. Despite this, there has to be some assumption of inherent value in the

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Simon Mellon, the globetrotting financial insider leading up our new “family office” project, says the super-rich are switching to low risk. (We will be sharing Simon’s insights into wealth protection, asset management and risk with Notes readers for the foreseeable future.)

On Wednesday, Capgemini and Merrill Lynch Wealth Management released the 2009 edition of their long-running World Wealth Report. The report’s findings are not easy to swallow. But they won’t come as a big surprise to Notes faithful.

It reveals that the population of “High Net Wealth Individuals” (defined as people with $1m or more to invest) fell nearly 15% in 2008. This drop is unprecedented. The biggest falls were seen amongst the “Ultra High Net Worth Individuals” (defined as those with more than $30m to invest), who saw more than 24% of their net wealth wiped out.

The report blames these heavy losses on investors’ preference for more aggressive

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Bank of America Corp. (BAC) Chairman and Chief Executive Kenneth Lewis said in testimony before New York’s attorney general that Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson pressured him not only to move ahead with a merger with Merrill Lynch despite reservations, but also to stay quiet about the mounting losses at the crumbling investment bank, The Wall Street Journal reported.

Transparency has long been a cornerstone of both democracy and the free market, but Lewis’s testimony that implies the CEO of one of America’s largest financial institutions - an institution that received more than $20 billion in taxpayer money - neglected to alert investors and potential shareholders to the full scope of Merrill’s losses prior to his company’s acquisition. It also implicates two prominent government officials in that decision.

Lewis made the comments in testimony given before New York’s attorney general as

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By Dan Ferris, editor, Extreme Value/ Two recent headlines in the Wall Street Journal have confirmed my worst fears are coming true... much faster than I thought they would: On Tuesday, the Journal ran a story called "Life Insurers Are Finding Their Fates Tied to Stocks." It confirmed what I told my subscribers in the latest issue of Extreme Value. Stock market losses might hit more than your equity portfolio... Many life insurance companies sell variable annuities and other guaranteed return products. These products guarantee the investor will receive either a minimum return... or the gain in the S and P 500... whichever one is larger. With the big stock indexes way down, losses have already piled up. The hedging that supports guaranteed investment products is too dense to get into here... But as the Journal pointed out on Tuesday, big life insurers like Lincoln National and Hartford have already suffered ratings downgrades due ...

Even though it just posted its third-highest annual profit ever, investors hammered shares of U.S. industrial giant General Electric Co. (GE) last week on a triple play of bad news: Its first dividend cut in 71 years. Speculation over a possible credit-ratings downgrade. And growing worries that the once-unthinkable was becoming possible - a corporate bankruptcy that would put GE on the growing list of onetime Corporate America heavyweights that are now taking government bailout money. GE’s biggest worries revolve around the company’s gigantic financial-services unit, GE Capital Corp., and whether it has adequate capital to counter an expected rise in delinquencies on its loans. Investors are also concerned about GE Capital’s accounting methods and how the company is valuing its vast real estate portfolio. "Probably the biggest controversy surrounding GE right now is what the fair value of (GE Capital’s) ...

Last week, Nexia Holdings announced that it signed a Letter of Intent with Cedar Crest Development, Inc. to acquire 19 residential lots located in Hooper, Utah. The subdivision contains 22 residential lots, three of which have been already sold to third parties. According to the press release, the lots are all suitable for single family residences. In exchange for the residential lots, Nexia Holdings would deliver 400,000 restricted shares of Series C Preferred Stock that would have a stated conversion value of $2,000,000.

Richard Surber, CEO of Nexia, commented, “This type of real estate play is the type of transaction that our Real Estate Acquisition Strategy is designed for. Nexia’s team will work hand in hand with the prior owners and the bank to cure the default. The anticipated result will be a great piece of real estate free and clear of debt within 12 to

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California Pension Funds Close To Bankruptcy Posted Under: Banksters by Auto on January 30, 2009

The two largest pension funds in California, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), have lost billions of dollars in value. Hundreds of thousands of retiring state employees and teachers now face the stark choice of accepting much reduced pension checks or working past their retirement age.

CalPERS is the largest pension fund in the US and the fourth largest in the world. At its height in October 2007 it had $260 billion in assets, comparable to the GDP of Poland, Indonesia or Denmark. At the end of 2008 CalPERS was worth $186 billion, one of its worst annual declines since the fund’s inception in 1932. It is one of the latest casualties of the financial collapse on Wall Street.

After years of gambling in real estate investments, the state

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We reiterate our Buy rating on shares of Churchill Downs (CHDN). The company faced a number of irregular issues in 2008, and managed them well, in our opinion.We remain encouraged by the increasing impact of the company's online advance-deposit wagering business, as well as the growth in Churchill's alternative gaming segment. Additional growth in these areas could provide a catalyst going forward.Our 12-month price target of $45 per share equates to approximately 10.0x our 2008 EBITDA estimate. We believe that a proper valuation of Churchill's shares should reflect not only the value of the current operations, but also the potential for increased revenue and earnings stemming from additional alternative gaming at the company's properties. Further, the company's low leverage and significant real estate holdings should be taken into account.Read the full analyst report on CHDN. "CHDN" Free ...

Nexia Holdings recently announced a new strategy for its real estate operations. The company has plans to grow its real estate portfolio and create value for its shareholders by utilizing a strategy called “real estate backed securities.” The plan was designed to capitalize on large portfolios of residential real estate held by banks, individuals, corporations or other entities as a result of subprime or other foreclosed loans.

Last month, Nexia Holdings told investors that one of its subsidiaries, Wasatch Capital Corporation, has assembled a team of new officers to manage the real estate operations that will be expanding under Wasatch’s ownership. The appointments are as follows: Casey J. Coleman as President, Corey Vandenberg as Vice President, and William Pettet as Secretary/Treasurer.

Richard Surber, CEO of Nexia Holdings, stated, “The team that Nexia is assembling will be key to our future success as a real estate holdings company. These

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