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It seems like he and many others see where the bounce happens but can not usually announce the bounce prior to the decline. Anyhow, better than most
In politics, nothing happens by accident. If it happens, you can bet it was planned that way.
~Franklin Delano Roosevelt
The shepherd always tries to persuade the sheep that their interests and his own are the same.
~ Marie Beyle
Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has.
~ Margaret Mead
Each time a person stands up for an ideal, or acts to improve the lot of others they send forth a ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance.
~ Robert F Kennedy
There is no distinctly native American criminal class save Congress.
~ Mark Twain
More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness; the other to total extinction. Let us pray we have the wisdom to choose correctly.
~ Woody Allen -
"If A Nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be"
~ Thomas Jefferson.
"We must not confuse dissent with disloyalty. We will not be driven by
fear into an age of unreason if we remember that we are not descended
from fearful men, not from men who feared to write, to speak, to
associate and to defend causes which were, for the moment, unpopular."
~Edward R. Murrow
I may be wrong but..I feel that guy may know a thing or two about the direction of gold..
Good post there imo.. peter was right on the money
"Most things worth doing never go quite the way they were planned. The challenge is to ignore the distractions, overcome the obstacles and stay focused on the goal." - Billy Cox
Rule 144 explained>>>>>Untangling Rule 144: Restricted Stock Sales and Affiliate Volume Limitations
At the foundation of our securities laws is the premise that shares of stock that are not registered with the SEC are subject to limitations on resale. Naturally, however, exceptions to this premise evolved. Perhaps the most well-known exemption to the limitation on resale rule is Rule 144. Rule 144, promulgated under the Securities Act of 1933, is a safe harbor provision that allows holders of restricted securities to make sales of stock when certain conditions are met. The most familiar condition imposed by Rule 144 is a one-year holding period before any resales may be made--but that is certainly not the only condition.
Rule 144's mandatory conditions are the following, and all of the conditions must be met for Rule 144's safe harbor to apply to a transaction, and we'll cover each of the requirements in detail below:
• A potential seller must satisfy the minimum one-year holding period.
• The seller must file a Form 144 with the SEC (unless the transaction is very small, under $10,000 worth of shares).
• There must be "current public information" available on the issuer.
• The sales must be in arm's-length broker transactions, without pre-arrangement or broker's solicitation of orders.
• The seller must have a bona fide intention to sell the shares at the time he/she files the Form 144.
The "Current Public Information" Requirement
Paragraph 144(c) dictates that current public information regarding an issuer must be available regarding an issuer before a 144 sale takes place. This requirement protects potential purchasers in 144 transactions; ideally, purchasers can thereby research companies before buying shares. The current public information requirement is met automatically if the issuer is fully reporting and is current in its filings (OTCBB companies, and those on the larger exchanges). With respect to pink sheet companies, the issuer must have information publicly available equivalent to that information found in a 15c2-11 filing. Many pink sheet issuers satisfy this requirement by subscribing to the pink sheet news service or by posting corporate information and financials on their website. Whether the scope of the information that an issuer provides meets the current public information requirement is a factual question that should be addressed to an attorney.
Rule 144's Holding Period(s)
At its core, Rule 144 allows a holder of restricted stock to resell such stock upon the expiration of a one-year holding period. Until February of 1997, the holding period was two years. The foundational principle underlying 144's holding period is that securities acquired and held for one year were most likely purchased with investment intent and not with a "view towards distribution." The holding period begins upon the "date of acquisition of the securities." Securities are deemed acquired when the full purchase price or other consideration is paid. Securities issued, but not fully paid, do not start the 144 holding period until full payment is made.
The expiration of a two-year holding period triggers a considerable relaxing of 144's strictness, but only for non-affiliates. After a two-year holding period, Rule 144(k) eliminates the current public information requirement, eliminates all volume restrictions, eliminates the "manner of sale" restrictions that apply to the way brokers must handle 144 sales, and eliminates the required filing of Form 144. Thus, Rule 144(k) removes all significant restrictions to resale for non-affiliates who hold shares for two years. Section (k) of Rule 144 is the section upon which holders rely when they have the restrictive legends removed from their stock certificates. Affiliates, however, remain bound by the major restrictions in Rule 144 until they cease to be affiliates.
Rule 144's Volume Restrictions, and the Importance of Affiliate Status
Rule 144 treats affiliates of the issuer much more strictly than it treats non-affiliates. The Rule applies to the sale of restricted (unregistered) stock by a non-affiliate. However, the Rule is far more imposing on affiliates; the Rule governs any sale of stock (both restricted and registered shares) by an affiliate of the issuer, and the Rule applies to affiliates indefinitely. Loosely defined, affiliates are control persons and other insiders, but we'll take a closer look at the definition of affiliates below.
With respect to sales of stock by an affiliate, Rule 144 imposes significant sales volume restrictions upon non-affiliates selling restricted stock, and upon affiliates selling either restricted or registered stock. Rule 144's volume restrictions are commonly referred to as "dribble out" provisions. We can distill the volume limitations as follows:
• Non-affiliates are subject to volume restrictions after holding stock for one year, but are no longer subject to volume restrictions after holding stock for two years.
• Affiliates are subject to volume restrictions as long as they are affiliates.
The dribble out provisions limit the amount of stock that can be sold in any 90-day period. The volume restriction dictates that sales in a 90-day period cannot be more than the greater of the following:
• 1% of the issuer's total outstanding shares, or,
• The average reported weekly volume in an issuer's stock for the four weeks immediately preceding the filing of Form 144 (if the issuer trades on a stock exchange or Nasdaq--OTC and pink sheet companies can only be sold using 1% rule).
As an example, assume ABC Corp., listed on Nasdaq, has 10,000,000 shares outstanding and traded 25,000 shares in each of the 4 weeks prior to the filing of a potential seller's Form 144. The dribble out provisions allow a seller to sell the greater of 1% of the total shares outstanding (in this case, 100,000 shares), or the average weekly volume for the prior four weeks (in this case, 25,000 shares). Thus, the seller can sell the greater number, up to 100,000 shares in the 90-day period.
Who Is an Affiliate?
Because Rule 144 applies differently to affiliates and non-affiliates, it is important to know who is an affiliate. The Rule dictates that affiliate status attaches to any person who directly or indirectly controls, is controlled by, or is under common control with the issuer. Rule 405 defines "control" as the "power to direct . . . the management and policies" of an issuer, whether by ownership or position. Thus, directors, officers, and upper-level managers are clearly affiliates. Owners of 5% or more are typically considered affiliates, but be careful--while the 5% figure is widely relied upon, you won't find the 5% figure in any rule are case on the subject.
Manner of Sale Restrictions
Finally, the Rule dictates the manner in which shares can be sold under its protections. The sales must be handled in all respects as routine trading transactions, and brokers may not receive more than a normal commission. Neither the seller nor the broker can solicit orders to buy the securities.
A private sale of restricted shares is neither governed nor protected by Rule 144. That is not to say that private sales of restricted shares are illegal. By its own terms, Rule 144 is not exclusive, and sellers of restricted stock have a few other potential safe harbors to protect their resales. Private sellers of restricted shares commonly rely upon what is known the "4(1½)" exemption.
Why Are Opinion Letters Necessary?
A Rule 144 seller must also secure an opinion letter from the attorney for the issuer. This is because before a sale can take place, the transfer agent for the issuer must agree to remove the restrictions (and hence the restrictive legend) from the share certificate. The transfer agent will only agree to remove a restrictive legend if it receives a letter from the issuer's counsel carefully presenting the legal argument why the shares are available for sale under Rule 144.
Where To Go for More Information
Determined and patient readers might try reading the text of the Rule, which can be found here: http://www.sec.gov/divisions/corpfin/forms/144.htm. Beware of many of the "Articles" on the topic on the internet--many contain blatant errors.
Success means something different to everyone.. So focus on your own and stop comparing yourself to others..
"It is better to lead from behind and to put others in front, especially when you celebrate victory when nice things occur. You take the front line when there is danger. Then people will appreciate your leadership."
~ Nelson Mandela
"Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world."
—ALBERT EINSTEIN
After living in the remote wilderness of Kentucky all his life, an old hillbilly decided it was time to visit the big city. In one of the stores, he picks up a mirror and looks in it. Not knowing what it was, he remarked, "How about that! Here's a picture of my daddy."
He bought the 'picture', but on the way home he remembered his wife, Lizzy, didn't like his father. So he hung it in the barn, a...nd every morning before leaving for the fields, he would go there and look at it. Lizzy began to get suspicious of these many trips to the barn.
One day after her husband left, she searched the barn and found the mirror. As she looked into the glass, she fumed, "So that's the ugly bitch he's runnin' around with.
.
That's the sexy Toyota Supra. It's held its value well over the years. Hope to own one some day :) Owned an older school one back in 2001 when I lived in Hawaii. SOB broke down on me when I was almost at the surf spot.
Good one.
Solitude can lead to pity parties.
What kind of car is this?>>>>http://player.vimeo.com/video/31515908?autoplay=1
THE LAST TEN THINGS ANY GUY WOULD EVER SAY:
10.I think Barry Manilow is one cool motherfucker.
9,While I'm up, can I get you a beer?
8,I'm absolutely wrong, you must be right.
7,Her tits are too big.
... 6,Sometimes, I just want to be held.
5,That chick on "Murder She Wrote" gives me a woody.
4,Sure, I would love to wear a condom.
3.We haven't been to the mall in ages. Let's go shopping so I can hold your purse.
2.Forget Monday Night Football, let's watch Murphy Brown.
1.I think we are lost. Maybe I should pull over and ask for directions.
THE LAST TEN THINGS ANY WOMAN WOULD EVER SAY:
10.Could our relationship be more physical? I'm tired of just being friends.
9.Go ahead and leave the seat up, it's easier for me to douche that way.
8.I think that hairy backs are really sexy.
7.Hey, get a whiff of that one.
6.That T-shirt with the holes in the armpits is just too cute.
5.This diamond is way too big.
4.I won't even put my lips on that unless I get to swallow.
3.Wow, it really is 14 inches.
2.Does this make my butt look too small?
1.I'm wrong, you must be right again.
I rarely read my horoscope, I did today.. this stood out.. there is a very fine line between seeking solitude to regroup and admitting defeat..Either way, meditating on the difference can bring clarification when you need it most..
They clear land mines.
Whats a mine seeker?
[NHSH] Becoming MineSeeker. Due Diligence:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71316422
OK Poem..Bring it!
B'Marked. Will Come back with a DD pick.
Things don't just happen... You create them with continuous focus & effort! What's your focus today? This Week? What will you make happen?
I BELIEVE THAT YOU WILL UNDERSTAND THE MEANING OF THIS LITTLE STORY…….
The ANT
AND THE
GRASSHOPPER
This one is a little different ......
Two Different Versions .....
Two Different Morals
OLD VERSION:
The ant works hard in the withering heat all summer long, building his house and
laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.
Come winter, the ant is warm and well fed.
The grasshopper has no food or shelter,
so he dies out in the cold.
MORAL OF THE OLD STORY:
Be responsible for yourself!
MODERN VERSION:
The ant works hard in the withering heat and the rain all summer long, building his house
and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.
Come winter, the shivering grasshopper calls a press conference and demands to know why the ant should be allowed to be warm and well fed while he is cold and starving.
CBS, NBC , PBS, CNN and ABC
show up to provide pictures of the shivering grasshopper next to a video of the ant in his comfortable home with
a table filled with food.
America is stunned by the sharp contrast.
How can this be, that in a country of such wealth, this poor grasshopper is
allowed to suffer so?
Kermit the Frog appears on Oprah
with the grasshopper and everybody cries when they sing,
'It's Not Easy Being Green..'
ACORN stages a demonstration in front of the ant's house where the news stations film the group singing, We shall overcome.
Then Rev. Jeremiah Wright
has the group kneel down to pray for the grasshopper's sake.
President Obama condemns the ant
and blames President Bush, President Reagan, Christopher Columbus, and the Pope for the grasshopper's plight.
Nancy Pelosi & Harry Reid exclaim in an interview with
Larry King that the ant has
gotten rich off the back of the grasshopper,
and both call for an immediate tax hike on the ant to make him pay his fair share.
Finally, the EEOC drafts the Economic Equity & Anti-Grasshopper Act
retroactive to the beginning of the summer.
The ant is fined for failing to hire a proportionate number of
green bugs and,
having nothing left to pay his retroactive taxes, his home is confiscated by the Government Green Czar and given to the grasshopper.
The story ends as we see the grasshopper and his free-loading friends finishing up the last bits of the ant's food while the government house he is in, which, as you recall, just happens to be the ant's old house, crumbles around them because the grasshopper doesn't maintain it.
The ant has disappeared in the snow, never to be seen again.
The grasshopper is found dead in a drug related incident, and the house, now abandoned, is taken over by a gang of spiders who terrorize and ramshackle the once prosperous and peaceful neighborhood.
The entire Nation collapses bringing the rest
of the free world with it.
MORAL OF THE STORY:
Be careful how you vote in 2012
A woman didn't come home one night. The next day she told her husband that she had slept over at a girlfriends house. The man called his wife's 10 best friends. None of them knew anything about it.
Friendship between men:
A man didn't come home one night. The next day he told his wife that he had slept over at a buddy's house. The woman called her husbands 10 best friends. 8 of them confirmed that he had slept over, and the other 2 claimed that he was still there!
Yesterday I was buying a large bag of Purina dog chow for my dogs Brady and Lucky at Wal-Mart and was about to check out. A woman behind me asked if I had a dog. What did she think I had, an elephant? RIGHT...??? So on an impulse I told her that no, I didn't have a dog and that I was starting the Purina Diet again.
Although I probably shouldn't, because I'd ended up in the hospital last time. I'd... lost 50 pounds before I awakened in an intensive care ward with tubes coming out of my orifices and IVs in both arms.
I told her that it was essentially a perfect diet and that the way that it works is to load your pants pockets with Purina nuggets and simply eat one or two every time you feel hungry and that the food is nutritionally complete so I was going to try it again. (I have to mention here that practically everyone in the line was by now enthralled with my story.)
Horrified , she asked if I ended up in intensive care because the dog food poisoned me. I told her no; I stepped off a curb to sniff a poodle's butt and a car me!
Tpiv..agreed tommymyboy!
$TPIV is going to be another gem in the making
TPIV..Bought the LOD thurs on 2 outta 3 fills!
Gold and Silver Price Rally Imminent
(special thanks to JER1)
Gold prices are on the verge of a significant breakout.
But it’s not because the U.S. national debt just passed $15 trillion, Europe’s about to announce its next doomed-to-fail bailout plan, negative real interest rates, or anything that will keep gold headed much higher in the long run...
It’s much simpler: There’s too much money and not enough gold.
This has happened a few times before. Each time, gold prices surged and silver prices exploded.
And now, it’s about to happen all over again.
Four Months Away from $2,200 Gold
The gold bull has had new life breathed into it this week.
Even though gold prices have ticked down a bit, a number of large banks have upped their gold price targets.
Goldman Sachs advised in a report on Monday, “Given our U.S. economists’ cautious economic outlook and the significant downside risks associated with the European turmoil, additional Fed easing might well be needed.”
As a result, Goldman increased its 12-month gold forecast to $1,930 an ounce. Credit Suisse jumped in, too, upping its near-term gold price target to more than $1,800 an ounce. Standard Bank in London has targeted gold to hit $2,200 per ounce within the next four months.
These increased forecasts will have a significant impact on the near-term gold price.
Here’s why — and the bigger opportunity they’re failing to tell their clients about...
Follow the Money
The gold bull market has self-reinforced its way to steadily newer highs throughout the last decade.
As with most financial assets in pre-bubble stages, the higher gold prices get, the more investors want it.
You know, coin and bullion dealers sell a lot more gold at $1,000 an ounce than they did at $300 an ounce... and they’ll sell even more at $2,000 an ounce, $3,000 an ounce, and beyond.
The same has held true in the financial markets.
As gold prices were setting record highs this summer, investors were putting more and more money into ETFs, funds, and everything related to gold and precious metals.
ETF Securities Inc. — a world leader in exchange-traded commodity products — tracks inflow and outflows of exchange-traded securities. It found inflows to precious metals funds climbed by $7.2 billion in the third quarter, the largest quarterly increase in over a year.
That’s a big inflow.
But it’s massive compared to the size of the gold market
Too Much Money, Not Enough Gold
One of the key tenants of the gold-boom-bubble is that the gold market is an extremely tiny one.
The total value of all gold produced since the beginning of time is only about $9 trillion. Sounds like a lot, sure... but it’s not.
The worldwide action of central banks to print money hasn’t done much for the economy, but it has kept asset prices up.
The table below shows that despite gold’s record run, it’s still just a tiny sliver of total investment around the world:
As the gold bull market grows stronger, gold prices rise, and investor demand accelerates, the percentage of total assets gold will eventually make up will be 5% to 10% or more.
After all, all of the major banks that manage and advise trillions of dollars' worth of assets cannot keep recommending gold without it becoming a more significant part of their clients’ portfolios. It’s just not going to happen. Gold prices must go up with demand.
To be clear, while the big banks may be waving the “buy gold” flag once again, gold isn’t even the best place to ride out the gold bull.
Right now, silver is offering much better value, less downside risk, and much more upside potential.
Silver and Gold : The Great Divide
Sure, gold prices are going higher. But the gains won’t be too big.
After all, even a run up to $2,200 is only a 25% — not bad, but not overwhelmingly great either.
That’s why silver is in a much better position.
Consider this: Gold and silver prices have been closely linked for decades. One runs, the other follows. One falls, the other follows.
They’ve been leap-frogging consistently over the past three decades without either asset falling too far behind or getting to far ahead.
Now, though, silver has fallen way behind. Since April, gold is up 15% and silver is down more than 30%.
The divergence cannot and will not last. And a continued rise in gold prices — driven largely by the big banks encouraging investors to plow millions more dollars into a small gold market — will get silver moving up again.
And when silver snaps back, it’s going to come back extremely fast.
Silver: Four Times More Upside than Gold
The primary driver for a near-term leap in silver prices is the gold/silver ratio.
Based on the number of ounces of silver an ounce of gold is worth, this ratio has stayed within a moderate range over the past 30 years.
For example: In 1980, an ounce of gold was worth 14 ounces of silver. In 1990, an ounce of gold was worth just over 100 ounces of silver.
The real value of the ratio is it can guide investors to buy gold and silver at far better prices than they would by following each metal individually.
Right now is the perfect example: With gold at $1,700 and silver at $32, the ratio is 53.
The current ratio is at the higher end of the scale. It’s simply saying silver is cheap relative to gold in historical terms. And silver currently has much more upside potential than gold.
If the ratio were to fall back to 14 as it was in 1980, silver would have to rise four times if gold did not go up at all.
Of course, history is just a guide.
There are many more reasons to expect silver to outperform gold in the months and years ahead...
A New Low Gold/Silver Ratio = Soaring Highs for Silver
Over the long run, the gold/silver ratio is going much, much lower. As a result, any rise in gold prices will be magnified even more so than the 4-to-1 example above.
Again, the reason is simple: In time, there won’t be enough gold to go around... but there’s even less silver.
On the supply side, silver is not keeping up.
¦ Gold and silver mines are running at much different paces. For every ounce of gold produced, there are only nine ounces of silver. (ratio: 9-to-1)
¦ The U.S. Geological Survey reports there are only six ounces of known in-the-ground silver resources for every one ounce of gold in the ground. (ratio: 6-to-1)
¦ The CPM Group reports the total silver available in the world only is only five times larger than the number of ounces of gold. (ratio: 5-to-1)
Meanwhile, demand is far outpacing those supplies...
Investment demand for silver has been making up an ever-increasing part of the precious metals investment pie.
We noted ETF Securities reported $7.2 billion of investment went into gold last quarter earlier. They also found $1.4 billion of that was into silver. (ratio: 3-to-1)
Like Gold, Love Silver
There are so many reasons to like gold right now.
Gold’s safe-haven value is only becoming more in demand as the euro collapses, fear grows more dominant, and — as Christian DeHaemer pointed out — negative real interest rates keep gold’s uptrend going for years to come.
Gold looks great, but silver looks exponentially better.
The current gold/silver ratio is at the higher end of its long-term range at 53. That’s enough to give silver four times the upside potential of gold.
The supply/demand fundamentals, however, show the gold/silver ratio could go even lower.
When the ratio reaches the point where silver fundamental supply and demand are matched, it will reach a low well below 10. That gives silver even more upside potential than gold.
The big banks are betting large sums on gold. Eventually they will be proven right, as the gold market is so small that it will be swamped by this surge in investment dollars...
But the biggest gains will be had in silver.
Buy silver. And buy it consistently.
The current dip cannot and will not last forever.
http://www.wealthwire.com/news/metals/2243
Yup! Unreal, meanwhile Heinz gets away TAX FREEEEEEEEEEEEEEEEEEE
Wow..Peter Eastgate gave up 73% to taxes!
pOKER pLAYER walks away with $8.7M ***TAX FREE***
http://www.dailyfinance.com/2011/11/15/what-a-deal-poker-champ-pays-no-taxes-on-8-7-million/?icid=maing-grid7%7Cmain5%7Cdl5%7Csec1_lnk2%7C113232
sponsored by: *AURI*
New Facebook Rule: Only for the 1 Percent?
By John R. Quain
Published November 08, 2011
It's being called "The Facebook Rule," and it's designed to shut you and me out of at least one social network.
Wildly hyped private firms like Facebook want to raise more private money without going public -- or divulging all their secrets and potentially giving some control to outside shareholders. These days there's a lot of money chasing a few private high-tech companies, but who's in on the deal before they go public a la Groupon?
Many tech companies today are running up against "the 500 rule," a regulation that says a private company like Facebook, Twitter, or Foursquare that has issued private stock to 500 or more investors must either make their financial records public or go public. Companies typically issue stock privately to compensate early investors and employees who later may reap the rewards in an IPO.
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But late last month, the House Financial Services Committee approved "The Facebook Rule," which would allow up to 1,000 investors (rather than the current 500) to hold shares in a private company before the business is required to register with the Securities and Exchange Commission and go public.
So what, you ask?
So such a rule change could create an even bigger Internet bubble than the one we experienced a decade ago.
It could make private investments even riskier. Worse, it would perpetuate a largely secret market in stocks that is subject to little regulation and is closed to 99 percent of investors -- like you and me.
Stock in Facebook and many other hot private tech companies is already aggressively traded in something called the secondary market, which pairs those who own private stock with those who would like to have an inside, pre-public piece of a company.
Say you're an early employee or private investor who doesn't want to wait for an IPO (or thinks the IPO might tank). You can sell your stock now through companies such as SecondMarket, SharesPost, or Gate Technologies. Those firms match sellers with buyers in a closed, private -- some would even say clandestine -- exchange. Venture capitalists admit it lacks "transparency."
These exchanges are secretive because no one knows what the companies' financials really look like, so they can't really tell what the shares are worth. Some companies have said they were making money, for example, but when the firms went public it was discovered they were actually losing money.
Worse, the only people allowed to participate besides the inside sellers are so-called accredited investors, which means when it comes to individuals, those who have made $200,000 in each of the past two years and have a reasonable expectation of making $200,000 this year -- or those with at least $1 million in assets (and your house doesn't count, by the way).
So unless you're already a millionaire, you can't get in on these deals. The paternalistic rationale behind this rule is that simple folks like you and me aren't smart enough to invest in such equities without losing our shirts. Only the wealthy are sophisticated enough to take such risks -- and get in on the action early.
Raising the 500 rule to 1,000 would at least double the size of this elite, secondary market (depending on how other related rules are changed). And it's already a big market where the wealthy make big bucks.
Steven Russolillo at the Wall Street Journal has pointed out that private-share transactions totaled $4.6 billion last year, nearly double the total traded the year before, according to research firm Nyppex Holdings. Such private trades could reach nearly $7 billion this year.
Naturally, people making a killing in the secondary markets don't want to let the rest of the riffraff aboard their gravy train. As one private equity expert told me, changing the 500 rule would be a windfall for the secondary market and continue to condone potentially shady practices.
It could also inflate another Internet zeppelin. Wealthy investors and venture capitalists can secretly bid up stock prices ahead of a public offering -- and then leak the information. That's where quotes about Facebook being worth $80 billion (or a gazillion dollars) come from.
Such hype can effectively boost post-IPO prices even further, so that when a company does go public, the poor public pays over-inflated prices. And make no mistake, this is largely a tech phenomena today, with social media and cloud computing companies accounting for the majority of secondary market trades.
Practically speaking, if the 500 rule becomes the 1,000 rule, it would allow Facebook to delay its public offering, and let it keep its business practices and balance sheet largely under wraps. The Facebook rule would also benefit other hyperventilating tech companies, such as Twitter and Foursquare.
Just beware that the new law could also help create the next Pets.com. And we all remember who was left holding the bag then.
Read more: http://www.foxnews.com/scitech/2011/11/08/new-facebook-rule-ipos-only-for-1-percent/?test=latestnews#ixzz1dAwH0Ch7
NBRI..We knew this!>>>>Gold Miners Are Growth Stocks Now
Earnings season has, so far, been a mixed bag for most industries. But for gold and silver miners this is one for the record books.
One of the selling points of precious metals miners is that they’re “leveraged to the gold/silver price”, which means a small move in the price of the underlying metal produces a big change in a miner’s profitability. This is bad when the metals are going down but potentially great when they’re going up. And right now the math is highly favorable: Gold and silver are up from a year ago, so miners that produce similar amounts of metal at a similar per-ounce cost are generating big earnings increases. Some excerpts from recent quarterly reports:
Barrick Gold Earnings Jump 45%
Higher gold and copper prices pushed Barrick Gold Corp.’s third-quarter earnings up 45% to a record level, beating analyst expectations.
Barrick, which late Wednesday boosted its quarterly dividend by 25%, posted net income of $1.37 billion, or $1.36 a share, up from $942 million, or 94 cents a share, a year earlier. Adjusted earnings jumped more than 50% to $1.39 billion, or $1.39 a share, it said, beating the Thomson Reuters mean estimate of $1.35 a share.
Revenue increased 44% to $4.01 billion, ahead of the $3.88 billion analysts were expecting, as Barrick’s realized gold price rose 41% to $1,743 an ounce.
Eldorado Gold posts 48% Q3 profit growth on record gold production
Eldorado Gold (TSE:ELD) (NYSE:EGO) (ASX:EAU) saw its third quarter results meet or exceed Street estimates on Thursday after it reported record gold production, higher selling prices, and lower operating costs. For the three months ending September 30, the gold miner posted profits of $110.7 million, or $0.19 per share, up 48 percent from $74.8 million, or $0.13 per share, a year ago.
Revenues rose 71 percent to $326.1 million, from $190.3 million in the same period last year. Analysts polled by Bloomberg Businessweek had expected 19-cents per share in earnings, on $311 million in sales.
The company produced a quarterly record total of 179,195 ounces of gold – 18 percent more than it did a year ago. Total cash operating costs fell three percent to $397 per ounce, while selling prices rose 38 percent to $1,700 per ounce during the third quarter.
Kinross Reports Rise In 3Q Adjusted Earnings, Record Quarterly Revenue
Kinross Gold Corp. (TSX: K, NYSE: KGC) posted adjusted net earnings of $273.4 million, or 24 cents a share, for the third quarter, the company said late Wednesday. This was up by 134% from $116.8 million, or 15 cents a share, in the year-ago period.
The company listed record quarterly revenue of $1.069 billion, a 45% increase over $735.5 million in the third quarter of 2010. The increase was the result of more ounces produced and an average realized gold price of $1,646 an ounce in the third quarter, compared to $1,190 in the third quarter of 2010.
Royal Gold Revenue Grows Again by Double-Digits
Net income for Royal Gold, Inc. rose to $17.2 million (40 cents per share) vs. $11.8 million (21 cents per share) in the same quarter a year earlier. This marks a rise of 45.3% from the year earlier quarter.
Revenue: Rose 42.2% to $64.5 million from the year earlier quarter.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 56.4%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 73.6% from the year earlier quarter.
Yamana Gold Announces Third Quarter 2011 Results
Production of 279,274 gold equivalent ounces (GEO) at cash costs of $94 per GEO. Gold production of 230,986 ounces. Silver production of 2.4 million ounces. Production increased 4% to 279,274 GEO. Revenue increased 22% to $555 million. Record adjusted earnings increased 63% to $190 million, $0.26 per share. Cash flow generated from operations increased 57% to $330 million, $0.44 per share. Generated cash margin of $1,603 per ounce, an increase of 36%. Cash and cash equivalents at September 30, 2011 were $570 million, a 73% increase from the beginning of the year. Cash flow generated from operations increased 66% to over $945 million, $1.27 per share, as at September 30, 2011. Dividend increased for the second time this year to $0.20 per share annually
Some thoughts
Comparisons will stay favorable for another couple of quarters and then get harder, as next year’s gold/silver price is compared with August’s parabolic spike. The sense that these growth rates are unsustainable might be one of the things holding back mining stocks in the face of great current earnings.
But if gold and silver just hold their current levels, the cash flow being generated by the strongest miners will allow them to 1) pay off debt and strengthen their balance sheets and 2) institute or increase dividends.
It’s possible that a year from now the precious metals miners will appeal to both growth and income oriented investors. That’s a lot of potential cash flowing into what is still a tiny sector.
by John Rubino on November 3, 2011
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