Dear PGM Capital Blog readers, On Friday evening August 5th 2011, Standard & Poor downgraded the USA credit rating from AAA to AA+. On Sunday August 7th 2011, during “MSNBC” program. “Meet the press”, former USA Fed Chairman, Dr. Alan Greenspan, was asked on his opinion about the downgrade of the USA debt. MSNBC Reporter:[…]
Dear PGM Capital, blog reader, Stocks have treaded water today, all over the world as a reaction to the downgrade of the USA credit rating from AAA to AA+, by S & P, Friday August 5th 2011. The sell-off gained steam after President Obama’s speech of this afternoon, as can be seen from below DOW[…]
Dear PGM Blog readers, On Friday, August 5th 2011, Credit rating agency S&P had the guts to downgrade the USA sovereign debt from AAA to AA+ with a negative outlook for the USA for the coming 15 months. August 5th 2011, will go into history as the day that a “credible” rating agency has acknowledge[…]
Dear PGM Capital, blog readers, During the last few days our telephones and E-Mail box were red hot from readers and clients asking our opinion on the current deadlock in the USA regarding the increase of the debt ceiling. History has proven to repeat itself within a certain cycle. On average we have a recession every 5 years and[…]
Dear PGM Capital, Blog readers, Today Wednesday July 27th 2011, the Australian Dollar closed at an all time high of, USD 1,1026 for AUD 1.00. In the last 5 years the Australian Dollar has appreciated with more than 25% against the USD as can be seen from below chart, this makes the Australian Dollar together[…]
Dear PGM Capital, Blog readers, Today, July 26 2011, Gold closed on a new all time high of US$ 1,619.90 an oz, while the DOW was down and closed at 12,501.30. The latter is the value of the DOW measured in USD, in paper money. However when we measure the value of the DOW in[…]
Dear PGM Capital, blog reader, today, Thursday, July 21st 2011, Freeport-McMoran Copper & Gold Inc (NYSE: FCX) reported its Q2-2011 results. Highlights Q2-2011 Results: Net income for Q2-2011, was USD 1.4 billion or US$ 1.43 per share, compared with USD 649 million or US$ 0.70 per share in Q2-2010 Revenue increased 50.5 percent to $5.81 billion[…]
Dear PGM Capital blog reader, On Tuesday, July 19th 2011, Peabody Energy (NYSE: BTU) reported its second quarter 2011 results. Highlights: EBITDA of $579.5 million, a 32 percent increase from the prior year. Revenues climbed 21 percent to $2.01 billion. Income from continuing operations increased 36 percent to $293.0 million, with diluted earnings per share from continuing operations[…]
Dear PGM Capital Blog readers, today Gold our preferred investment vehicle, for the current age of turbulence, hyperinflation and shake-out of the West (USA , EU & Japan) closed a record high of USD 1602.10 an oz. as can be seen from from below chart. As can be seen from above chart Gold has appreciated in the[…]
Dear PGM CAPITAL Blog readers, today, July 15th 2011, BHP Billiton Ltd, world biggest and most diversified mining corporation [ASX: BHP, NYSE: BHP, LSE: BLT, JSE: BIL] and Petrohawk Energy Corporation (“Petrohawk”) [NYSE: HK] announced they have entered into a definitive agreement for BHP Billiton to acquire Petrohawk for US$38.75 per share by means of[…]