Short on gold closed out and a pessimistic outlook on the markets
Rick Ackerman had been riding a short position that was very profitable for around a month. He just closed out that short and is now waiting to see where the gold price moves. We also chat about his outlook on the global economy and how the markets will reflect the continued slowdown.
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The dimensions of the global asset bubble is the extent to which deflation has been exported to former communist countries where there’s no longer any labour front after the collapse of socialism, mostly in Asian countries, and the extent to which purchasing power has declined in affluent regions. I can see that reversing with advancing inflation in China, and much higher corporate bond rates domestically, but overall lower government bond rates domestically.
Just mentioned on Garys thread I would like to hear from Rick.
So, whats the gold price when gld? is 104.50? 99.54?
I need some kinda chart.
Good to see Rick back. He’s been right on like always.
I dropped by my gold store here in Thailand and asked the lady how was business. She said that she was selling a lot of gold to the Chinese tourists and they wanted the more heavy gold rings and bullion. She said the lower prices were helping. I wish I could post some pictures for everyone to see. Bullion is sold kind of funny but it’s a very important part of Thai culture.
Would you mind asking her how platinum is selling to the Chinese ….thanks
Frank
I’ve asked and they do not sell it in Bullion form. I’ve seen it in Cambodia but never in Thailand.
Thanks Chris……..appreciate your reply
Kinda off topic but Big Al be proud! I gobbled up 2,000 shares today of Theralase! This gonna be a ten bagger!
I hope you’re right, Jason, I’m holding mine at a loss.
I’ve held my share of penny bags. Lottery play. Check out the 2 year chart. Theralase has bounced off 20 cents 4 times on the bottom end. Looks like a solid floor. If this holds and we get a good run I don’t think it is going to matter whether you got in at .20, .25, .30, or even higher. Good luck!
Theralase is still a big gamble….
Financial Strength (LTM)
Quick Ratio: 22.10
Current Ratio: 24.40
Long Term Debt to Total Capital: N/A
Total Debt to Equity: N/A
Interest Coverage: -620.00
Leverage Ratio: 1.10
Profitability (LTM)
Gross Margin: 61.90%
EBIT Margin: -348.10%
EBITDA Margin: -339.40%
Pre-Tax Profit Margin: N/A
Profit Margin (Cont. Op): N/A
Profit Margin (Total Op): N/A
Management Effectiveness LTM 5 Yr Avg
Return on Equity -68.70% -126.99%
Return on Capital -68.94% -259.63%
Return on Assets -65.15% -24.64%
Assets
Asset Turnover: 0.10
Inventory Turnover: 1.10
Receivable Turnover: 1.00
Valuation Measures
P/E Ratio: N/A
P/E High – Last 5 Years: N/A
P/E Avg. High – Last 5 Years: N/A
P/E Low – Last 5 Years: N/A
P/E Avg. Low – Last 5 Years: N/A
Price to Sales: 24.15
Price to Book: 4.00
Price to Tangible Book: 4.04
Price to Cash Flow: 100.80
Price to Free Cash:
Renminbi in the IMF SDR basket at 10.93% as of 16 Oct 2016 so that is a while coming.
Wikipedia already has this on today. ell done Wikipedia for a great free service.
Anyway, does that mean that the RNB will become part of the denominator of the US dollar index? I guess it will have to at least by sometime next year (2016). It will be interesting to see if the RNB stops its wish to slide down against the US dollar and starts to go up at that time. Maybe that is the date for the USDX top?
so if my 92 yr old ears aren’t failing me Rick agrees w Avi…on gold