Dear PGM-Capital Blog readers, Today July 23rd 2012, China CNOOC Ltd (NYSE: CEO, HKSE: 0883.HK) anounced that it has entered into a definitive agreement to acquire all the outstanding common shares of Canadian Oil & Gas Company NEXEN Inc (NYSE: NXY, TSX: NXY), for US$27.50 per share in cash. The purchase price, which totals approx US$ 15.1 billion, represents[…]
Dear PGM-Capital Blog readers, Last Thursday, July 5th 2012, will go into history as the day that 3 major Central Banks, “The Bank of England“, “The European Central Bank” and the “The People’s Bank of China“, signaled their determination to stimulate the flagging global economy. Highlights: The Bank of England’s monetary policy committee, said that it would inject an[…]
Dear PGM-Capital Blog readers, During the last 3 years we have been warning investors for the crash of the ultimate Bubble, the Bond market. In the course of history we have seen a lot of bubbles forming and subsequently bursting. The most recent ones were the IT-Bubble of 1997- 1999 and the housing market bubble of 2002-2007. In all these cases bursting of[…]
Dear PGM Capital, Blog readers, In our blog post of Last Sunday, May 6th 2012, entitled “Are You Prepared for a World Heading for Populism?” we analyzed how growing populism, combined with excessive debt and aging population in the west, may trigger a very hard, deep and long depression. Although we dislike being right about[…]
Dear PGM Blog readers, If you have watched the headlines lately, the following news headlines of the last two weeks should have captured your attention: Argentina Nationalizes “REPSOL-YPF” Bolivia Nationalizes Electricity Company “REE” Today, Sunday May 6th 2012 will go into history as the day that Greece and France shifted politically from the center to respectively extreme left[…]
Dear PGM CAPITAL Blog readers, Today Monday, April 30 2012, after the bell Canadian Oil Sand Ltd (TSX: COS), (ISIN CA13643E1051), reported its financial results for the three months period ended March 31, 2012. Highlights: Cash flow from operations was $454 million ($0.94 per Share) in the first quarter of 2012, down five per cent from cash flow from[…]
Dear PGM-Capital Blog readers, During this weekend we took some time to read the book “Der Staatsbankrott kommt” (The state bankruptcy is coming!) by Michael Grandt, with the fitting sub-title “Retten Sie Ihr Vermögen, solange Sie es noch können!” (Save your wealth as long this is still possible). Using lots of examples taken from Greece, Michael Grant[…]
Dear PGM-Capital Blog readers, This weekend we would like to discuss with you the “Market Volatility Index”, better known as the VIX-Index or Fear-Index. The volatility index (“VIX”) is an index that measures expectations of volatility, or fluctuations in price, of the S&P 500 index. Higher values for the volatility index indicate that investors expect the value of the S&P 500[…]
Dear PGM-Capital Blog readers, Since July 22nd 2011 we have seen investors, driven by fear, running in the wrong direction, by buying US-Treasuries as a safe haven and sending the yield of the 10-year note to a historic minimum of approx. 1.75% by early October of 2011. History has proven that Greed & Fear will block common sense[…]
Dear PGM Capital Blog readers, today March 14 2012, Baytex Energy Corp. (NYSE: BTE), (TSX: BTE) (ISIN: CA07317Q1054) reported its Q4-2011 and FY 2011 results. Hightlights: Produced record quarterly production of 53,054 boe/d in Q4-2011 (an increase of 18% over Q4-2010) and record annual production of 50,132 boe/d in FY 2011 (an increase of 13%[…]