“We’re going to see $200 oil at some point” Jim Rogers

Rogers buys oil last week as price drops Thu Dec 11, 2008 12:49pm EST

By Herbert Lash

http://www.reuters.com/articlePrint?articleId=USTRE4BA4HD20081211

NEW YORK (Reuters) - Renowned commodities investor Jim Rogers said on Thursday that he bought oil last week as crude prices collapsed to near four-year lows and that the world is running out of known oil reserves.

Rogers told the Reuters Investment Outlook Summit in New York that he also closed his bets against the U.S. stock market in October, and plans to use the dollar’s rally as an opportunity to exit dollar-denominated assets.

Rogers, who spoke via a conference call from Miami, said he is the world’s worst market timer and a horrible short-term trader, but a sharp sell-off in oil prices suggested a bottom.

“Oil collapsed last week. Whenever you’ve had that sort of selling climax throughout any period

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Now the government has decided not to buy the junk left behind by the giant US Banking system garage sale, and instead has decided to funnel the cash directly onto the balance sheets of the banks who were peddling them, I am convinced the American and global consumer public has been zapped with some kind of stun gun. As Bob Moriarty asked on 321gold.com recently, “Where’s the outrage?”

Complacency would seem to be the default reaction. Like cattle at the abattoir, we mill about munching straw while one by one our brethren receive a bolt to the head before being parceled into roasts.

I hereby provide notice of an avenue for action. We here at MidasLetter.com are in development on a feature length documentary film called “Crime of the Century”. This film takes a long view of the economic history of the world from the establishment of the US Federal Reserve (conceptually

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Your retirement nest egg might have lost 40% of its value since this summer and 10% the last 2 weeks. What should you do? Here's the advice I've been giving to friends who ask, as well as what I've been doing with my own portfolio.

First, let me begin by stating that I make no claim whatever to be able to predict whether stock prices will go up or down over the near term or when the market bottom might be reached. In part that humility is inspired by a large academic literature demonstrating that it's very hard to predict stock prices with formal statistical models.

The one element of predictability for which I do see some support in the academic literature is the claim that the price/dividend or price/earnings ratios do not wander too far from their long-run historical averages. The implication of that finding is that

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Warren Buffett says buy. Jeremy Grantham says it will get worse. Both are celebrated value investors. Who is right? It all depends upon your view of the third derivative of investing. Today we look at valuations in the stock market. This is the second part of a speech I have given in the past few weeks in California and Stockholm. I am updating the numbers, as the target keeps moving. 

While from one perspective things look rather difficult, from another there is a ray of hope. What can you expect to earn from stocks over the next five years? It should make for an interesting letter. Note: this will be a little longer than usual, but part of it is there are a LOT of charts.

I likened this to the economic situation we are in now. With consumer spending “resetting” to a new lower level, we are going to have to

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Swiss banks are being targeted by EU officials desperate to blame someone for this financial crisis. But Bob Bauman says the country is strong enough to resist external calls to reform its bank secrecy and tax laws.

This from The Sovereign Society:

Last week, tax-hungry officials from the increasingly socialist countries of Germany and France declared another round in their long running war on Switzerland.

Their aim once again was against traditional Swiss bank secrecy, which the Franco-German politicians claim is little more than a cover for massive tax evasion. As usual, they didn’t offer any proof for this claim.

Over several centuries and during two World Wars, peaceful Switzerland always has maintained its traditional neutrality. It’s kept out of numerous wars involving both France and Germany, usually with the latter attacking the former.

The last time a war of sorts

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Perma-Fix Environmental Services provides hazardous, mixed, and industrial waste management services and environmental engineering to industrial customers, commercial customers and the United States Government. Through their 6 major facilities in the Southern and Midwest states, they treat industrial waste which may or may not be hazardous. Their nuclear services arm focuses on the treatment of mixed (nuclear and chemically hazardous) waste. While it may not seem like a glamorous industry, it is definitely profitable.

In a complex series of contracts, Perma-Fix Environmental has been subcontracted, through its East Tennessee Materials & Energy Corporation (M&EC) subsidiary, at the Department of Energy (DOE) Hanford Site. The contract is expected to yield combined revenue of approximately $200 million - $250 million over the five year base period. This includes off-site revenue from associated waste treatment at the company’s four Mixed Waste treatment facilities.

CH2M Hill Plateau Remediation Company (CHPRC), the lead on the contracts,

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Warren Buffett HoldingsWarren Buffett Holdings | Investing in Stocks(http://HedgeFundBlogger.com) An interesting article which relates to my posts yesterday on hedge funds coming out of this whole crises stronger than ever. The most experienced Hedge Fund Managers see more opportunity right now than they do anything else. A quote from Warren Buffett a recent New York Times article reads: “Be fearful when others are greedy, and be greedy when others are fearful”Here's an excerpt from the article:THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.So ... I’ve been buying American ...

For anyone who still doubted the growing global influence of such emerging powerhouses as China, consider this: The U.S. government’s decision to take control of foundering mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) was driven not by worries about the fading U.S. housing market, but by concerns that foreign central banks in China, Japan, Europe, the Middle East and Russia might stop buying our bonds. As the bailout announced Sunday is currently structured, more than $1.3 trillion worth of Fannie Mae and Freddie Mac debt currently held by the central banks and other investors in those regions will be guaranteed by the U.S. government - even if one or both of the two government-sponsored enterprises (GSEs) were to fail. That means that U.S. taxpayers - government parlance for you and me - will ultimately foot a ...

ManTech International Corp. (MANT) reported a 45% year-over-year increase in net income last quarter and has also raised full-year guidance for 2008. In August the company won a contract from the United States Army that could reach a value of $820 million.

Company Description

ManTech International Corp. provides a variety of information technology and other services to United States government agencies that focus primarily on national security. The company is involved in every phase from design and production to implementation and maintenance. Mantech's headquarters are located in Fairfax, Virginia, it has 7,400 full-time employees, and carries a market cap of $2.1 billion.

Net Income Up 45%

On July 30th ManTech announced second-quarter results which included net income of $21.9 million, a 45% year-over-year increase. Earnings per share were 62 cents, topping the consensus estimate of 60 cents. This was the third

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