Here is a great interview with one of the financial characters I respect the most, Marc Faber.
Watch the whole thing, or start watching at 1:43:
Weesh Interview stiff: You have lived much of your life overseas in Asia?
Marc Faber: Yes.
Weesh Interview stiff: If you were to counsel a 20 year old American today, and say “go pick a country, go live there, go make your fortune there”, where would you tell him to go?
Marc Faber: Well, that depends obviously on preferences. I like Asian Women. Maybe someone else likes Brazilians or Cubans or Russians or Eastern Europeans. I mean there are lots of things to consider…
I haven’t really been keeping up with these as I have been busy swooping fly girls in Cartagena, and despite the description of the Heistman in the Hollywood heist, “The man, described as well dressed and with slicked-back hair”, and “smooth manner and debonair appearance” my ski mask has remained in my dresser drawer as of late.
Daring Heist at Poker Tournament in Germany
A heavily armed group stormed a poker tournament in a German luxury hotel Saturday afternoon and made off with a jackpot, a police spokesman said.
Several participants at the tournament in Berlin’s Grand Hyatt hotel were slightly injured when they panicked and fled following the daring afternoon heist, Carsten Mueller said.
German Poker Tournament Robbers Still on the Run
Mueller said four robbers in disguises forced employees to hand over money, and then managed to escape. Mueller declined to give details, including how much money the men got away with.
The jackpot for the tournament stood at euro1 million ($1.36 million), according to a European Poker Tour Web site. The EPT confirmed the heist on the event’s blog in an official statement, saying there had been ”an armed robbery executed by six men.” It was unclear why the number differed from the police count.
Four Seasons Robbery: Billionaire In Town For Oscars Robbed In Hotel
A well-dressed man who talked his way into a Florida sugar baron’s hotel room and stole tens of thousands of dollars worth of jewelry is believed to be the same person who pulled similar scams on a Mexican soccer team, a salsa band and an Israeli basketball team when they visited Los Angeles, police said Tuesday.
The man, described as well dressed and with slicked-back hair, posed as a Four Seasons hotel employee when he struck up a conversation in an elevator on Friday with Jose Pepe Fanjul and his wife, Emilia, according to police. Later that night, he showed up at the couple’s room and told them he needed to fix a problem with an air vent. After he left, they discovered more than $45,000 in jewels missing.
“I haven’t seen any pictures yet but I’ve had many calls and I’ve had a description, and his appearance and M.O. sounds very much like a man we’re calling Ricco Suave,” said police Lt. Paul Vernon.
Authorities gave him that nickname because of his smooth manner and debonair appearance, he said.
In a Hollywood-style heist, thieves cut a hole in the roof of a warehouse, rappelled inside and scored one of the biggest hauls of its kind — not diamonds, gold bullion or Old World art, but about $75 million in antidepressants and other prescription drugs.
The pills — stolen from the pharmaceutical giant Eli Lilly & Co. in quantities big enough to fill a tractor-trailer — are believed to be destined for the black market, perhaps overseas.
“This is like the Brink’s pill heist,” said Erik Gordon, a University of Michigan business professor who studies the health care industry. “This one will enter the folklore.”
The thieves apparently scaled the brick exterior of the warehouse in an industrial park in Enfield, a town about midway between Hartford and Springfield, Mass., during a blustery rainstorm before daybreak Sunday. After lowering themselves to the floor, they disabled the alarms and spent at least an hour loading pallets of drugs into a vehicle at the loading dock, authorities said.
“Just by the way it occurred, it appears that there were several individuals involved and that it was a very well planned-out and orchestrated operation,” Enfield Police Chief Carl Sferrazza said. “It’s not your run-of-the-mill home burglary, that’s for sure.”
Experts described it as one of the biggest pharmaceutical heists in history.
For 20 years, investigators have been chasing down hundreds of leads. They’ve interviewed countless witnesses all over the world, and still the central questions remain: where is the art and who did it?
What happened on March 18th, 1990 at Boston’s Isabella Stewart Gardner Museum? A a new portrait is now emerging about the famous heist, with some tantalizing details.
Investigators say at precisely 1:24 a.m., two men disguised as policemen knocked on the side door of the museum, saying they were called to look into a disturbance. The night watchman let them in.
Once inside, the thieves handcuffed both of the guards on duty, tied them up with duct tape and then, with free reign of the museum, they went to work.
But the question remains, who is behind the biggest art heist in history? Over the years there have been wild theories. Was it a fugitive mob boss? An eccentric art collector? Or just the work of local criminals?
“There are so many good suspects, it’s like an Agatha Christie novel where everybody’s sitting in the living room and everyone has a particular motive as to why they committed the crime,” says Kelly.
On the case for eight years, Kelly says DNA testing is now in play, but he won’t reveal details.
The Boston Globe reports that investigators may be analyzing the duct tape used to silence the guards. If there’s sweat on the tape, there’s a possibility of a DNA match, and the break investigators have been hoping for all these years.
The FBI has taken out ads, placing billboards on the highway, offering a $5 million reward for any information that leads to the safe return of the artwork.
There are two crimes in the matter: the actual theft of the artwork, for which the statute of limitations ran out in 1995.
And then, there’s the second crime: possession of stolen art. There is no statute of limitations on that, which is why the U.S. Attorney’s Office is now offering immunity. Prosecutors say if someone comes forward with the art, all will be forgiven.
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Nobody Move Gimmie The Loot(Eazy-E and Notorious B.I.G)
Much like 2009 we expect 2010 to be more of a traders’ market as opposed to sitting in positions for extended periods. A successful trader will need to apply fundamental research and technical research by paying attention to seasonal tendencies, examining correlations commodity to commodity, monitoring the weather and most importantly being flexible with their positions. By this I mean to perhaps scale back your position size because of the volatility, trade both futures and options, and use hedging strategies. The two principal conditions to look out for this year are who wins the argument on inflation vs. no inflation and decoupling relationships between asset classes. To keep up to speed with our ideas we encourage investors to follow in our weekly commentary or daily blog.
The substantial swings we expect to see in 2010 commodity wide will force investors to be more attentive with their portfolios. Speculators, hedgers, and producers need to recognize that with this comes excellent opportunity but much more risk. While it is unlikely that we will encounter the same type of swings this year as the previous two, one will need to bring their best game to be successful at marketing, hedging, or speculating this calendar year. The good news is that more investors are trading commodities which are quickly becoming a critical component of the global economic system and a necessary asset in your portfolio.
We are looking forward to 2010 and see many opportunities that we’ll outline here. For further explanation and to keep up on an evolving basis follow our Weekly commentaries and on our blog’s Daily thought at www.mbwealth.com. Feel free to visit and give us feedback, we are always eager to see what other traders and investors are doing.
Metals: Copper is not a market you can put a position on and forget about as swings have just become too large. Prices in the last 4 years have been under $1 and over $4. Off their lows which were established in late 08’ early 09’, prices have rocketed higher by almost 270%. At this point we say prices are too high and we would expect a set back; a trade back to $2.40- 2.60 is not out of the question. The demand out of China was one of the main driving factors in 09’ and if we were to see that pace slow one would expect a correction to ensue so pay close attention to copper earmarked to China this year. Copper continues to act as a very accurate barometer on global economic sentiment and if prices are either extreme or moving higher or lower at a swift pace do not ignore the warning signs. Gold saw record highs last year trading over $1220/ounce but after a wash out early this year we would expect new record highs. Before we would expect that to really develop we would anticipate the masses to get out of the trade and for this trade to be far less crowded. As we hinted at last year, when the markets are leaning only one way the ensuing move is generally in the opposite direction. Though we feel gold has and will continue to serve as a store for value, we expect the move higher in 2010 largely to be driven by more investors realizing that we have inflation around the corner. The 50 day moving average comes in just below $1000/ounce and at about that level serves as a 38.2% Fibonacci retracement level so that would make sense for a back off point. The closer we get to that level or if we even get below that the level, the lower one is able to buy gold and the more bullish we are. On the upside we are expecting to see a print very close to $1400/ounce this year. Silver outperformed gold in 09’ and we expect the same outcome in this calendar year. Silver failed to get back to its highs reached in early 08’ while gold hit fresh record highs, so in my eyes silver has some catching up to do. Furthermore, the gold/silver ratio that you need to be aware of as a metals trader we view to be way too wide. This spread has decreased from the wide level we saw in late 08’ of 85:1, but at the current level the spread is still at 61:1 when historically it has been closer to 30:1. The 50 day moving average in silver comes in just above $15 and though we think a loss of 18% from the current level may be a stretch, we would maintain a buy the dips mentality in silver with a price objective on the upside of $22-24 in 2010. In both gold and silver we would suggest buying the dips we see the first part of the year because if things go as planned we may not see those levels again this year. Additionally we would suggest scaling into the trades and utilizing a combination of futures and options as we expect volatility to persist.
Financials: While there are consequences if a large institution tries to move the Equity market and it is frowned upon when Central banks intervene in the currency market, I presume that when the government manipulates the bond markets we are supposed to turn a blind eye. That is what the story was in 2009 as we feel that the government controlled the flow and moved the Treasury market higher and lower as it saw fit. What should be the driving force in this market this year, is the perceived direction of interest rates and the eventual tightening which we expect to start around mid-year. The Fed may want to leave rates low for an extended period but when countries around the globe raise their rates the US cannot let the spreads widen significantly or it will suffer dreadful consequences. If we are right on stocks moving lower the flow of money may keep prices of Treasuries afloat temporally early in the year, but we suggest a short bias in Treasuries in 2010 as we expect more downside than upside potential. We see a trading range in 30-yr bonds of 124’00 to 108’00 and in 10-yr notes of 123’00 to 110’00. More than likely most of our trade recommendations in the Treasury complex will be the short end of the curve as opposed to the long end as we will be positioning clients in long dated put options and short futures in Euro-dollars to take advantage of the coming interest rate tightening. We made a similar prediction last year and hindsight tells us we were early but we continue to think risk/reward this is one of the best trades one may see in a lifetime. Let’s get real where can interest rates go from here? The key is to scale into positions and not add any substantial size until the market proves you right. We think once the Fed starts raising rates this trade could last 2-3 years. The key will be to stay with the trade, recognize this trade is not glamorous but if rates move to 7.5%-10% in the coming years this trade should reap hefty rewards. I should have known as the S&P bottomed in March 09’ at “666” that there was an uncharacteristic move to follow. The 50% appreciation got many investors back some money that was well deserved but what we should take away from a move like no other is we may be facing a crisis like no other. This should serve as a warning much like a loud horn before a devastating crash. By no stretch of the imagination do we think we’ve seen the worst; with growing unemployment, another leg down in real estate, the lack of consumer spending, mounting US debt, the rising cost of commodities and a rise in interest rates to come we Do NOT see the light at the end of the tunnel. Early this year we could see an attempt at 1175/1200 in the S&P, 11000/11250 in the Dow and 1950/2000 in the NASDAQ but we expect a sizeable correction to follow. Are we calling for a double dip, not at this point, but our downside targets are as follows: 825/875 in the S&P and 8000/8500 in the Dow, and 1400 in the NASDAQ. This market will continue be a stock pickers market and the days of buying and holding are dead. With still so many unanswered questions it is extremely difficult to predict what the right move may be. As investors we are in unchartered waters and making up the rules as we go.
For specific strategies contact us via e-mail http://www.mbwealth.com or telephone at (888) 920-9997 / 954-929-9898. For the most part investors reading this analysis want to be more hands on, however we suggest taking a look at our managed futures section and consider diversifying further via CTA’s with proven track records.
Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Past performance is no guarantee of future trading results.
Then I remembered Poppin’ My Collar which sampled Willie Hutch’s “The Theme From The Mack”:
I had never seen the video before. But I saw some solid lessons there.
I know many people are having a tough time stacking chips in the Down Economy, and these little hustlers at the beginning of the video really show The Art of Selling.
They use a great opener, get right down to biz, offer a solution, compliment the buyer, Then Close Hard.
I really love that closing line; “So, are you gonna help us brothers out, Or What?”
Its a real universal closing line that you can almost use in any situation:
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Sol Price, a retail magnate who three decades ago altered both the American landscape and the American way of shopping by founding Price Club, the first nationwide members-only discount warehouse, died on Monday at his home in La Jolla, Calif. He was 93.
With Robert, Mr. Price started the first Price Club in 1976 in a cavernous former airplane parts factory in an unfashionable part of San Diego. The business, which offered consumer goods as varied as tires, books and household appliances at extremely low prices, proved to be the leading edge in the multibillion-dollar influx of discount big-box stores, among them Costco, BJ’s Wholesale Club and Sam’s Club.
I am a couple of days late on this story, as I was busy swooping fly girls in the Caribe, getting mad shoulder rubs, while puffing on Marlboro Gold’s.
I was deeply saddened by the news of Mr. Price’s passing, as I have some ties to the family. My heart goes out to them.
A True G, top tier biz cat, Democratic powerhouse and always gave back. And did it with Style. People’s Champ if the ever was one.
The main lesson from him: Keep overhead to an absolute minimum.
You know your G when Sam Walton bites your steez:
One of the chief beneficiaries of Mr. Price’s legacy, Sam Walton, acknowledged the debt in his 1992 memoir, “Made in America” (Doubleday, 1992; with John Huey). Mr. Walton, the founder of Wal-Mart and Sam’s Club, wrote, “I guess I’ve stolen — I actually prefer the word ‘borrowed’ — as many ideas from Sol Price as from anybody else in the business.”
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
