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Looks like a leaky boat...
Bids are stacked...
quota hit...almost
you aint seen nothing yet...dump..dump..
Nice dump...bet they even didn't wipe there behind...maybe with a chart or some other kind of paper...lol
After doing some DD...invested yesterday, not looking for a quick flip here. Will be holding for a nice % gain. Anyone have a opinion on a possible NASDAQ listing...TIA...
Have you seen this write up...
Apr. 19, 2011, 10:01 AM
The Past May Be A Prologue For Fund.com And Weston Capital
Investors in Bermuda reinsurer Gerova Financial and Stillwater Capital who have followed the recent tempest around these two have probably heard of Fund.com and Jason Galanis, and not in a way conducive to warm, fuzzy feelings.
The question is: Have Fund.com investors and affiliates such as Weston heard of Jason Galanis? I mean, really heard of him.
To get to the man behind the mask, though, let's first look at the mask.
Fund.com began with a bit of a bang.
Re-imagined in late 2007 as "a provider of fund management products and risk management solutions" for investment advisers to create and manage wealth, privately-held Fund.com made its debut to the public through a reverse merger with public Eastern Services Group, a state and local tax advisor for Nevada casinos. In March 2008, it shelled out nearly $10 million in cash for the domain name “fund.com,” a record at the time according to Clek Media.
Having no revenues since its 2007 inception and no real operating subsidiary other than ESG, the casino tax adviser, Fund.com went on a path of growth through acquisition.
It took a stake in AdvisorShares, a developer of proprietary exchange traded funds, in 2008, then bought Whyte Socratic, a developer of online education programs for investors, debtors and professionals, in 2009. Finally, it purchased hedge fund adviser and incubator Weston Capital in the first quarter of 2010.
According to Bloomberg’s Market Data Fund.com shares had a fiendishly volatile past few years hitting closing peaks of $539 a share (with intraday levels at $1205) in July 2008 and lows of $16 in May 2009. Still, shares went for as high as $121 a piece as recently as one year ago.
It’s been a downward spiral since then. The company has had to declare most of its prior financials unreliable because of a soured business deal in late 2009 and keeps promising to restate them in full. To date no such restatements have been filed.
Some of its senior executives have been connected to various shady enterprises, such as the afore-mentioned Gerova Financial and also Westmoore Capital, from which Fund.com raised $1.5 million in 2008. Westmoore Capital was closed down by the SEC for running a $53 million Ponzi scheme.
Out of the 12 disclosure reports required of it as a public company for 2009 and 2010 (the law requires that public companies file 4 such reports per year), the company has failed to timely file 9 times. It has filed no report in 2011 yet, so to find independently certified accounts investors have to go back to the 2009 numbers, audited by a 6-person Hollywood, Florida accounting shop.
An unusually large 1 for 120 reverse split at the end of September, Fund.com shares failed to stop the share price slide. Fund.com lost 99% of its value in the past year and is now traded in the “pink sheets”. Current market value of the company is at around $8.4 million, with share price at $1.40 on volumes between 5,600 and 267 shares.
Enter Jason Galanis.
In a telling expose in Neil Weinberg's Forbes blog, we learn that Galanis is the son of a known con-man John P. Galanis and a known associate of the Orange County scammers from Westmoore. Among his resume highlights is an arrest (but no charge or prosecution) in a drug-dealing case that sent his brother up the river for 11 years.
Another badge of honor -- in 2007 Galanis forged the signature of the CEO of his then employer, Penthouse International, on a Sarbanes-Oxley certification as part of a scheme to commit financial statement fraud. He got a fine and a 5-year ban from serving as director or officer of a public company for his troubles.
The U.S. government has suggested that Galanis may have ties to Kosovo warlords and has attempted to develop ties with the Gambino mobsters.
Late last year, Galanis was sued by former Red Hat CEO Szulik for stealing $4 million from the CEO's family investment trust.
He is also named as a defendant in a recent class action suit by investors in Gerova Financial, a NYSE-listed shell company purporting to offer regulatory capital to capital strapped companies, for orchestrating fraud and wasting company assets while in the employ of Gerova.
This is the Jason Galanis behind Fund.com.
A review of Fund.com’s latest annual report shows that Equities Media Acquisition Corp is the largest shareholder of Fund.com with a 28% voting stake and has been so pretty much from the get-go in early 2008. Neil Weinberg's blog reveals that EMAC is managed by Galanis and is headquartered near his home.
And we also learn that pump-and-dump and self-dealing schemes have often been imputed to companies connected to Galanis and Westmoore.
Another imputation may be warranted here but we needn’t go that far. With or without a scheming Caliban in it, this tale is surely strange. And for Weston Capital and Fund.com's investors, strange, too, are the bedfellows that Galanis and Westmoore Capital make.
April 26, 2011 15:00 ET
AdvisorShares Announces Partnership With Accuvest Global Advisors
Partnership Will Create a Solution That Utilizes a Global Country Rotation Strategy
BETHESDA, MD--(Marketwire - Apr 26, 2011) - AdvisorShares Investments, LLC, a sponsor of actively managed Exchange Traded Funds (ETFs), announced today a partnership with Accuvest Global Advisors ("AGA"), to develop an actively managed ETF which will utilize a proprietary global country rotation strategy. The proposed ETF would join AdvisorShares' growing stable of innovative actively managed ETFs and add a global investment strategist to the AdvisorShares family for Financial Advisors to gain insights from.
Noah Hamman, CEO and Founder of AdvisorShares said, "We feel investment advisors will be as excited as we are to be able to offer their clients access to AGA's extensive global equity investing experience. The strategy utilizes a unique top-down macro-economic scoring system as they evaluate and pick countries, not individual equities. AGA has a tremendous track record of success and the upcoming ETF will provide investors with another solution to gain global equity exposure."
David Garff, President of AGA said, "We believe that global equity markets provide ongoing return opportunities for disciplined investors, and that the best way to gain exposure to these markets is through a broadly diversified portfolio that minimizes individual security risks by investing in a portfolio of price efficient, single country ETFs."
Garff added, "We're looking forward to our partnership with AdvisorShares in creating this investment vehicle which will pair our extensive global country ranking research with AdvisorShares' ETF expertise."
To request more information on AdvisorShares, please contact Noah Hamman at 202-657-6383 or nh@advisorshares.com. For media inquiries, please contact Richard Stern at 212-888-0044 or richstern@sternco.com.
Gerova Announces Intention to Delist Its Securities From the NYSE
Apr 18, 2011 19:18 ET ....
So will this news release get the share price moving...what does everyone think..there does not seem to be any interest..
News...they used to mention FUND.COM as a majority shareholder..have not seen it in the last couple of releases by ADVISORSHARES..today
Mar 04, 2011 11:15 ET
AdvisorShares Cambria Global Tactical ETF (GTAA) Tops $100 Million in Assets
GTAA Crosses the $100M Mark in Just 4 Months
BETHESDA, MD--(Marketwire - March 4, 2011) - AdvisorShares, a leading sponsor of ETF innovation and actively managed Exchange Traded Funds (ETFs), announced that the AdvisorShares Cambria Global Tactical ETF (NYSE: GTAA) has topped $100 Million in assets. GTAA is managed by Mebane Faber and Eric Richardson of Cambria Investment Management ("Cambria").
"This is an exciting moment for our team. To have raised over $100 Million in assets in GTAA after just four months is something we are all very proud of," said Noah Hamman, CEO and Founder of AdvisorShares. "Investors have quickly embraced the GTAA investment strategy and are showing their confidence in the GTAA portfolio management team, AdvisorShares and the Active ETF structure. We recently lowered GTAA's expense cap based on the operational efficiencies that have been achieved, due to its phenomenal asset growth."
Mebane Faber, Chief Investment Officer of Cambria, said, "We have been thrilled with the growth of GTAA as we believe that investors need to be more proactive in managing their risk and are glad that our message is resonating with investors." Cambria utilizes a quantitative approach with strict risk management to actively manage GTAA's portfolio in an attempt to mitigate downside losses and protect capital.
More information on GTAA can be found on the AdvisorShares website at http://gtaa.advisorshares.com.
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com. For media inquiries, please contact Richard Stern at 212-888-0044 or richstern@sternco.com.
About AdvisorShares
AdvisorShares is one of the leading providers of actively managed ETFs. As of 2/28/2011 AdvisorShares offers 6 active ETFs with over $225 Million of assets under management. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR), the Cambria Global Tactical ETF (NYSE: GTAA), the Peritus High Yield ETF (NYSE: HYLD) and the Active Bear ETF (NYSE: HDGE). AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each of the AdvisorShares ETFs. AdvisorShares continues to seek qualified sub-advisor investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook.
At least there is a trading range now...$2-$3....been a long time
10%...Down on news...what's the story...
Jan 26, 2011 13:00 ET
AdvisorShares Set to Launch the Active Bear ETF (NYSE: HDGE)
BETHESDA, MD--(Marketwire - January 26, 2011) - AdvisorShares Investments, LLC, a sponsor of actively managed Exchange Traded Funds (ETFs), today announced that it will begin trading in the Active Bear ETF (NYSE: HDGE) tomorrow, January 27th. HDGE is sub-advised by portfolio managers John Del Vecchio and Brad Lamensdorf of Ranger Alternative Management, L.P. ("Ranger") a Dallas-based investment manager.
The HDGE Portfolio Management Team will implement a short-only large-cap domestic equity investment strategy by utilizing a bottom-up, fundamental, research driven security selection process. In selecting short positions, the Team seeks to identify securities with low earnings quality or aggressive accounting which may be intended on the part of company management to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition, the portfolio management team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security, such as downwards earnings revisions or reduced forward guidance. Lastly, the HDGE Team employs a variety of technical factors that drive short Beta exposure with the goal of generating alpha in any market environment.
Noah Hamman, CEO and Founder of AdvisorShares, said, "Investors have told us that they are searching for a true hedging solution, with an experienced short manager. The current products either blindly short every security, or use exposure to commodities as a synthetic hedge which we know often does not work. Ranger has considerable experience using their proprietary forensic accounting approach to identify domestic equity stocks that are expected to underperform."
John Del Vecchio, CFA, Portfolio Manager of HDGE, said, "We are very excited to launch HDGE with AdvisorShares as we believe that most current options in the marketplace which purport to provide a true equity hedge for investment advisors are not only difficult to implement and maintain, but don't provide enough alpha when they should. HDGE is managed by a team with extensive specialized backgrounds in short selling securities that will employ a disciplined, repeatable methodology in analyzing factors such as firms' accounting statements, management team, corporate governance and competitive advantage when looking for companies to include in the HDGE portfolio."
John Del Vecchio on CNBC: John Del Vecchio will appear on CNBC at approximately 12:10pm ET, tomorrow, January 27th to discuss the launch of HDGE.
Financial Professionals Only: Click here to register to attend a live webcast with the HDGE portfolio managers, Monday, January 31st at 4pm ET.
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com. For media inquiries, please contact Richard Stern at 212-888-0044 or richstern@sternco.com.
About AdvisorShares
AdvisorShares is one of the leading providers of actively managed ETFs. As of 12/31/2010 AdvisorShares offers 5 active ETFs with over $150,000,000 of assets under management. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR), the Cambria Global Tactical ETF (NYSE: GTAA) and the Peritus High Yield ETF (NYSE: HYLD). AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each of the AdvisorShares ETFs. AdvisorShares continues to seek qualified sub-advisor investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook
Jan 11, 2011 06:00 ET
AdvisorShares Announces Partnership With TrimTabs Asset Management
Partnership Will Create a Solution That Utilizes TrimTabs' Liquidity-Based Investing Strategies
BETHESDA, MD--(Marketwire - January 11, 2011) - AdvisorShares Investments, LLC, a sponsor of actively managed Exchange Traded Funds (ETFs), announced today a partnership with TrimTabs Asset Management, LLC, a subsidiary of TrimTabs Investment Research, Inc. ("TrimTabs"), to develop an actively managed ETF which will apply TrimTabs' liquidity-based investment strategy. The proposed ETF would join AdvisorShares' growing stable of innovative actively managed ETFs which includes the AdvisorShares Dent Tactical ETF (NYSE: DENT), the AdvisorShares Mars Hill Global Relative Value ETF (NYSE: GRV), the AdvisorShares WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR), the AdvisorShares Cambria Global Tactical ETF (NYSE: GTAA), and the AdvisorShares Peritus High Yield ETF (NYSE: HYLD).
"Many investors are familiar with Charles Biderman from his regular appearances on CNBC and Bloomberg TV as well his frequent quotes in the financial media, and know that he is a go-to resource in the area of stock market liquidity. His firm, TrimTabs, is the leading independent institutional research firm focusing on stock prices as a function of supply and demand rather than value," said Noah Hamman, CEO and Founder of AdvisorShares. "We believe investment advisors will be excited to be able to offer their investors an alternative to market cap or fundamentally weighted core holdings by using TrimTabs' supply and demand investment research, used today by many of the top hedge funds in their investment decisions."
Charles Biderman, Founder and Chief Executive Officer of TrimTabs, said, "Most quantitative ETFs focus on easily available price, volume, and earnings data. Since data on the supply and demand for stocks is scattered across so many sources, most strategies ignore stock market liquidity. However we believe that stock prices are a function of liquidity rather than value. Like the prices of any tradable good, the prices of stocks are driven by supply and demand.
"At TrimTabs, we believe that partnering with AdvisorShares in creating this investment vehicle which will meld our extensive liquidity-based investment research with AdvisorShares' ETF expertise into a liquid, transparent actively managed ETF could be a winning proposition in the investment advisor community."
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com. For media inquiries, please contact Richard Stern at 212-888-0044 or richstern@sternco.com
About AdvisorShares
AdvisorShares is one of the leading providers of actively managed ETFs. As of 12/31/2010 AdvisorShares offers 5 active ETFs with over $150,000,000 of assets under management. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR), the Cambria Global Tactical ETF (NYSE: GTAA) and the Peritus High Yield ETF (NYSE: HYLD). AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each of the AdvisorShares ETFs. AdvisorShares continues to seek qualified sub-advisor investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook.
About TrimTabs Investment Research LLC
TrimTabs Investment Research is the only independent research service that publishes detailed daily coverage of U.S. stock market liquidity -- including corporate liquidity flows, hedge fund flows, mutual fund flows and exchange-traded fund flows -- as well as weekly withheld income and employment tax collections. Founded by Charles Biderman, TrimTabs has provided institutional investors with trading strategies since 1990. Around a third of the top 30 macro hedge funds use TrimTabs' research. For more information, please visit www.TrimTabs.com.
About TrimTabs Asset Management, LLC
Trim Tabs Asset Management, LLC was established in 1995. Trim Tabs Asset Management, LLC serves as investment adviser to a variety of individual and institutional investor accounts.
.025...if we pass that it could run fast.IMHO.
Gold down 12%....today...the co will put out a press release I believe before Xmas..holding my shares..not gonna give them up..seen this before..could turn green very fast and continue for a few days..want to be holding a whack for the run...
They are based on the west coast L.A. could see some action this afternoon...
Hey buddy....took a nice position today...looking forward to some nice profits..like the story..undervalued
Just got back from the movies...saw THE INSIDE JOB...WOW, you guys have to see this...unbelievable.
FUND.com always mentioned as a majority shareholder of Advisors...looking forward to our news..
Another Launch...
Oct 28, 2010 19:46 ET
AdvisorShares Set to Launch the Peritus High Yield ETF (NYSE: HYLD)
HYLD Is the First Actively Managed High Yield Bond ETF
BETHESDA, MD--(Marketwire - October 28, 2010) - AdvisorShares Investments, LLC, an innovator of actively managed Exchange Traded Funds (ETFs), today announced an expected launch date of no later than December 3rd, 2010 for the first ever actively managed high yield bond ETF, the Peritus High Yield ETF (NYSE: HYLD). HYLD is managed by Peritus I Asset Management ("Peritus"), a Santa Barbara, California-based investment manager.
Peritus is a unique value focused, active credit manager capitalizing on opportunities in the corporate bond market. They place limited value on the rating agencies and their methodologies, believing the agencies lag the market perception of risk and often ignore critical components of a company's credit profile. Instead, Peritus views credit as either "AAA" or "D," either the credit is expected to pay its coupon and principal obligations or it isn't. By avoiding arbitrary restrictions on aspects such as ratings and subordination and not being forced to take the one-of-everything approach as in the index products, Peritus is able to focus exclusively on the credits where they see the best risk reward. In addition, HYLD may utilize U.S. Treasuries in an effort to hedge against adverse market declines in periods of excessive exuberance as evidenced by compressed spreads and questionable underwriting standards. Short term treasuries (less than 5 year maturities) benefit from the "flight to quality" trade when there is a market disruption. While there is an opportunity cost in adding Treasuries to the portfolio (the yield is less), the possible Treasury "overlay" is expected to help potentially reduce risk and maximize the income stream regardless of the environment.
Noah Hamman, CEO and Founder of AdvisorShares said, "Peritus has an established track record managing high yield bonds. More importantly they have extensive high yield bond trading experience and the relationships to find the best opportunities. We believe that the high yield asset class is one which is best served through active management. We are very excited to be the first Firm to offer an actively managed high yield bond ETF to investors."
Tim Gramatovich, Chief Investment Officer of Peritus said, "We are very excited to launch HYLD with AdvisorShares as investors have begun to realize the benefits of yield in their portfolios. Delivering this via an ETF brings both transparency and liquidity to a much misunderstood asset class. Given the massive size of the marketplace, we believe that we have the tools to manage this portfolio through any and all environments and as such view HYLD as an active credit fund with all season tires. Our goal is to deliver a monthly income stream while also positioning the portfolio to generate capital gains by acquiring securities at a discount to par value."
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com.
About AdvisorShares
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with experienced money managers to combine their money management strategies with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors utilize AdvisorShares ETFs to help them achieve their client's investment goals and objectives. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) and the Cambria Global Tactical ETF (NYSE: GTAA) and is dedicated to investor education. Fund.com is the majority owner of AdvisorShares Investments, LLC. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team at http://www.twitter.com/advisorshares or 'Like' us at http://www.facebook.com/#!/pages/AdvisorShares/53212358057?ref=ts.
About Peritus I Asset Management
Peritus I Asset Management is an employee owned SEC registered investment advisor headquartered in Santa Barbara, California. Founders Tim Gramatovich and Ron Heller began their partnership in 1995. Peritus is a value based, active credit investment manager providing services to institutional and qualified retail markets. Visit their website at www.peritusasset.com.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.AdvisorShares.com. Please read the prospectus carefully before you invest.
Foreside Fund Services, LLC, distributor.
An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Non-diversification exposes the Fund to greater market risk than if its assets were diversified among a greater number of issuers and/or sectors. High yield, lower rated bonds involve a greater degree of risk than investment grade bonds in return for higher yield potential. As such, securities rated below investment grade generally entail greater credit, market, issuer and liquidity risk than investment grade securities. Interest rate risk occurs when interest rates rise as bond prices usually fall. This Fund may not be suitable for all investors. Newly organized, actively managed Funds have no trading history and there can be no assurance that active trading markets will be developed or maintained.
Contact:
Noah Hamman
AdvisorShares
202-684-6383 or
Email Contact
Click here to see all recent news from this company
Just checked my Scotia account..FNDMD with the amount of shares I own is there...but no market value..something up for sure..
Oct 25, 2010 11:00 ET
AdvisorShares Set to Launch the Cambria Global Tactical ETF (NYSE: GTAA)
GTAA Takes a Quantitative Approach to Global Tactical Asset Allocation
BETHESDA, MD--(Marketwire - October 25, 2010) - AdvisorShares Investments, LLC, an innovator of actively managed Exchange Traded Funds (ETFs), today announced that it will begin trading in the Cambria Global Tactical ETF (NYSE: GTAA) tomorrow, October 26th. GTAA is sub-advised by Cambria Investment Management, Inc., a Los Angeles, California-based investment manager.
Cambria will invest in underlying ETFs spanning all the major world asset classes including equities, bonds, real estate, commodities, and currencies. The Fund will utilize a quantitative approach with strict risk management controls to actively manage GTAA's portfolio in an attempt to control downside losses and protect capital. GTAA will do this by following a trend-based model utilizing multiple asset classes and will either be invested or will get defensive by going into cash for a particular asset class. The wide diversification coupled with prudent portfolio management may allow for the Fund to perform well across a full business cycle.
Noah Hamman, CEO and Founder of AdvisorShares, said, "Cambria has done an outstanding job developing research and education related to a GTAA strategy via their popular white paper, 'A Quantitative Approach to Tactical Asset Allocation,' and their recent book, 'The Ivy Portfolio.' We are very excited to be able to offer this risk-managing strategy to investors in an actively managed ETF."
Mebane Faber, Chief Investment Officer of Cambria Investment Management, said, "We are very excited to launch GTAA as we believe that investors need to be more proactive in managing their risk. Investors will appreciate the fact that we make no effort to forecast future market trends or direction, but rather attempt to capture profits in these trends when and where they develop."
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com.
About AdvisorShares
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with experienced money managers to combine their money management strategies with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors utilize AdvisorShares ETFs to help them achieve their client's investment goals and objectives. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV) and the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) and is dedicated to investor education. Fund.com is the majority owner of AdvisorShares Investments, LLC. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on our Twitter page or 'Like' us on Facebook.
Oct 25, 2010 11:00 ET
AdvisorShares Set to Launch the Cambria Global Tactical ETF (NYSE: GTAA)
GTAA Takes a Quantitative Approach to Global Tactical Asset Allocation
BETHESDA, MD--(Marketwire - October 25, 2010) - AdvisorShares Investments, LLC, an innovator of actively managed Exchange Traded Funds (ETFs), today announced that it will begin trading in the Cambria Global Tactical ETF (NYSE: GTAA) tomorrow, October 26th. GTAA is sub-advised by Cambria Investment Management, Inc., a Los Angeles, California-based investment manager.
Cambria will invest in underlying ETFs spanning all the major world asset classes including equities, bonds, real estate, commodities, and currencies. The Fund will utilize a quantitative approach with strict risk management controls to actively manage GTAA's portfolio in an attempt to control downside losses and protect capital. GTAA will do this by following a trend-based model utilizing multiple asset classes and will either be invested or will get defensive by going into cash for a particular asset class. The wide diversification coupled with prudent portfolio management may allow for the Fund to perform well across a full business cycle.
Noah Hamman, CEO and Founder of AdvisorShares, said, "Cambria has done an outstanding job developing research and education related to a GTAA strategy via their popular white paper, 'A Quantitative Approach to Tactical Asset Allocation,' and their recent book, 'The Ivy Portfolio.' We are very excited to be able to offer this risk-managing strategy to investors in an actively managed ETF."
Mebane Faber, Chief Investment Officer of Cambria Investment Management, said, "We are very excited to launch GTAA as we believe that investors need to be more proactive in managing their risk. Investors will appreciate the fact that we make no effort to forecast future market trends or direction, but rather attempt to capture profits in these trends when and where they develop."
To request more information on AdvisorShares, please contact Noah Hamman at 202-684-6383 or nh@advisorshares.com.
About AdvisorShares
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with experienced money managers to combine their money management strategies with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors utilize AdvisorShares ETFs to help them achieve their client's investment goals and objectives. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV) and the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) and is dedicated to investor education. Fund.com is the majority owner of AdvisorShares Investments, LLC. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on our Twitter page or 'Like' us on Facebook.
FNDME...as of today..let's see if there is a update today from the Co.
Over..2 Hours ago ???
The Company was not able to timely file its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2010, which represented the third late filing in its past two fiscal years. On August 24, 2010, the Company notified Financial Industry Regulatory Authority - OTC Filing Department and OTC Compliance Unit of such event and requested the quotation of the Company’s Class A common stock on the Over-the-Counter Bulletin Board maintained by the Financial Industry Regulatory Authority be discontinued, effective immediately.
have a feeling will not be long now...Slingshot
Nigeria pushes for renewable energy with World Bank support
Thursday, 03 June 2010 22:11
By Nuel Navarrete
[Green News, World Bank, Nigeria, renewable energy development, fossil fuel electricity, Nigeria energy crisis, rural access to electricity, modern green technologies] The World Bank is coordinating with the Nigerian government to enhance security of supply and improve electricity access in the country, particularly in the rural areas.
The World Bank will allocate more than $200 million to aid in the development of renewable energy projects in Nigeria in hopes to alleviate the country’s energy crisis, local newspaper Vanguard reported on Tuesday.
Ono Ruhl, the bank’s country director, told Vanguard that the bank is coordinating with the Nigerian government to enhance security of supply and improve electricity access in the country, particularly in the rural areas.
He added that the country’s prevailing power problem is largely caused by its dependence on gas-fired power plants and hydroelectric power. However, this energy crisis cannot be solved by conventional sources or grid extensions.
“We want to initiate technologies that would bring faster solutions; it would involve a menu of solutions for Nigeria’s power problem,” said Mr. Ruhl.
Nigeria’s hydropower sector has shown solid growth from 1971 to 2005. According to statistics from International Energy Agency, the sector generated well below 5,000 gigawatt-hours of electricity in 1971, but this figure has risen to approximately 23,000 GWh in 2005.
Mr. Ruhl pointed out that the opportunity to generate power from alternative energy sources would allow the country to test modern green technologies that would make its power system environmentally sound in the face of climate change.
“Many of the technologies for rural electrification such as hydro, wind and solar are much climate friendly than the traditional systems of generating power,” he added.
Nuhu Somo Wya, the Nigerian minister of state for power, pointed out the discrepancy in the country’s electrical supply and demand, with attendant low access of about 40 percent in rural areas. He insisted that fossil fuel electricity alone is not enough to support the national energy requirement, leading the country to turn toward renewable energy development.
Mr. Wya added that the government is already taking steps to establish a more feasible environment for the integration of renewable energy and energy efficiency in the country. Strong national policies, action plans and regulatory frameworks that support sustainable power development are now in the works to remove barriers to green investment and market development.
“It is now more evident than ever, that Nigeria needs to harness all available energy resources for electricity generation in order to improve its socioeconomic performance and to achieve the aspiration of being in the league of the top 20 economies in the world by the year 2020,” Mr. Way stressed.
News...INFRAX SYSTEMS (IFXY) Announces Next Phase of Gemini Wireless Project
Jul 06, 2010 08:00 ET
By: Liezel Hill
10th March 2010
Updated 33 minutes ago
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TORONTO (miningweekly.com) – Malaga Inc, the only operating primary tungsten miner in the Americas, could start considering a second, “much bigger” mill at its Pasto Bueno mine, in Peru, by 2012 and is looking at acquisition targets in North America and Europe, CEO Jean Martineau said on Tuesday.
Demand for tungsten, which is used to strengthen steel and prevent corrosion, is being driven by China, which is also the biggest producer of the metal.
The APT European bid price stood at $185/t at the end of 2009, and has gained in value each week this year, to $210/t at the moment.
Martineau said he expects to see prices recover to $250/t by the end of 2010.
“And after that, who knows? But we think we are going to have a nice market, a very nice market,” he said in an interview on the sidelines of the Prospectors and Developers Association of Canada's annual convention.
Malaga bought the Pasto Bueno mine in 2005 and hit commercial production two years later, at a rate of 250 t/d.
The company then arranged $5-million in finance from customer Global Tungsten Powders in February 2009 for a mill expansion, which began two months later in April last year.
Throughput is already up to 375 t/d, and the company expects to hit 500 t/d by May this year, and could ramp up to 800 t/d in 2011, Martineau said.
The firm expects to be cash flow positive by the second quarter of this year, and the focus for the next two years will be on increasing production and recoveries at Pasto Bueno, as well as on exploring the company's property.
“When we bought this property, there were 31 known veins and they have extracted more than six-million tons over the 60 years of operations, but just from five structures,” Martineau said.
Since 2005, the company has increased the known veins to 78, of which 25 are major structures.
Given the potential for increased resources and reserves, the company may look at building a second, larger mill, he said.
“But the size will be decided by the reserve.”
ACQUISITIONS, CHINESE INTEREST
Chinese companies are very active in looking to acquire new sources of production, and Malaga has definitely received approaches, Martineau said.
“They are becoming more and more aggressive in this market,” he said.
“But right now, what we want to do is develop the company.”
As far as its own acquisitions are concerned, the company is eyeing a number of tungsten projects in Europe and North America, and there are two in particular that are of interest, Martineau said.
Edited by: Liezel Hill
For more information, please contact:
Jean Martineau
President & CEO
Malaga Inc.
Telephone: (514) 288.3224
Dale Nejmeldeen Investor Relations Malaga Inc. Telephone: (778) 574.2806 Email: nejmeldeen@malaga.ca
Nicole Blanchard
Corporate Strategy and Investor Relations
Sun International Communications
Telephone: (450) 973.6600
Sun International Communications Sun International Communications provides strategic global expertise in investor relations and financial communications services. ...
Malaga's Pasto Bueno at 398,845t of 0.75% WO3 M+I
2010-03-05 12:02 ET - News Release
Mr. Jean Martineau reports
MALAGA ANNOUNCES ITS TUNGSTEN ORE RESERVES AND RESOURCES INCREASED BY 72% AND 280% RESPECTIVELY AT PASTO BUENO TUNGSTEN MINE: PERU
Malaga Inc. has released resource estimates from an updated technical report on the Pasto Bueno tungsten mine's reserves and resources, located in the Ancash province of Northern Peru. The National Instrument 43-101-compliant report was prepared by Vector Engineering Inc. The data include detailed sampling of veins exposed in drifts and chimneys, and long sections of eight veins that are currently being exploited or explored. There are currently 78 known WO3-mineralized veins found on Malaga's Pasto Bueno property. The resource summary includes 169,427 metric tonnes of proven-and-probable reserves, with a WO3 average grade of 0.7 per cent, 398,845 metric tonnes of measured-and-indicated resources with a WO3 average grade of 0.76 per cent and 1,820,641 metric tonnes of inferred resources with a WO3 grade of 0.7 per cent.
New new major production will likely occur before 2013 at the earliest, causing a tungsten shortage that will support higher tungsten prices," Thompson said, forecasting that prices will increase to US$300 per mtu until new production is realized after 2013. "The suspension of production from the Cantung mine will further impede available tungsten supply."
"Caveats for our long-term price forecast for APT are continued robust growth in demand for tungsten in excess of 3%, specifically from China, and limited new high-grade supply, especially from current producing countries such as China, Russia, and Australia, all of which possibilities seem unlikely in the medium term."
Haywood asserted that the lack of new production has been noted by Asian tungsten mine operators, "promoting a spate of strategic agreements, offtake agreements, and acquisitions to support new development through an input of capital. The credit crisis and associated spate of market volatility makes the involvement of joint venture partners with the ability to finance projects a near necessity."
Meanwhile, Haywood also noted a problem with the U.S. Government tungsten stockpile. In January the U.S. Geological Survey estimated that the Defense National Stockpile Center had 21,300 tonnes of tungsten concentrate on hand or 46 million pounds, a reduction from the 30,000 tonnes reported in 2003. Year end estimates are 43 million pounds in 2008.
"Industry sources suggest that at least a third (14.2 million pounds) are either contaminated or of such poor quality rendering that portion un-saleable and unwanted which leaves some 28.6 million pounds available for industrial consumption," Thompson noted.
"The congressional mandate calls for 8 million pounds to be auctioned off each year, implying that the current stock pile will be exhausted in 3.5 years or 5.3 years if the entire stockpile was high quality," he concluded.
2012 :The World Tungsten Market Needs More Than 90 Thousand MTs
Consumption of tungsten in hard metals/cement carbides is the largest and is expected to increase further. The global tungsten market is projected to reach 91 thousand metric tons by the year 2012.
Though tungsten demand is persistently growing owing to rapid development in national defense, civil and war industries throughout the globe, increase in supply shortage has become a major growth dampener for the distinctive metal. Prices increased sharply in recent years. End users largely depend on China, which represents over 85% of worldwide tungsten supply. The leading global producer of tungsten is China followed by Russia, Canada, Austria, Bolivia, and Portugal. China supplies a major portion of tungsten to the US. China is also the largest stockpile for tungsten in the world accounting for over 55% of world reserves. Of late, China significantly reduced exports of tungsten due to its growing domestic requirements and restrictions on exports of certain metals, which included tungsten. Therefore, growth of tungsten market depends largely on new discoveries and explorations.
Asia-Pacific (including China & Japan) represents the largest and the fastest growing tungsten market in the world and is projected to cross 45 thousand metric tons by the year 2010, as stated by Global Industry Analysts, Inc. Among end-use sectors, chemicals represent the fastest growing market for tungsten with a compounded annual rate of over 8% during the 2001-2010 analysis period, while hard metals/cement carbides end-use segment represents the largest market and is projected to reach 48 thousand metric tons by the year 2010.
Exports from China and the CIS to Japan, Western Europe and United States represent key trade flows. During the last decade, pattern of tungsten trade switched from tungsten ores and concentrates to intermediate materials such as ammonium paratungstate (APT), oxides and ferrotungsten. Low prices for tungsten spurred producers to develop and export downstream products.
As cemented tungsten carbide is satisfying changing technical demands in milling and turning operations, it is considered a key material for cutting-tool inserts. Ceramic-metallic compounds and ceramics are being produced and used as replacements for cemented tungsten carbide in order to fulfill varying market demands. Demand for more distinctive metal, tungsten, is persistently growing owing to rapid development in national defense, civil and war industries throughout the globe. However, supply-demand curve in tungsten market is not likely to widen in the upcoming years and the market is not expected to witness a continued period of severe supply shortages.
Tungsten..news from down under...
Newcrest also announced an updated indicated and inferred resource for its O’Callaghans deposit of 78 million tonnes containing 260,000 tonnes of tungsten and 220,000 tonnes of copper.
Mr Smith later told journalists the deposit had a fair bit of importance strategically, given only 100,000 tonnes of tungsten was produced each year and 80 per cent of the market was controlled directly by China.
‘‘So they basically control the market.‘‘
It’s been declared by China as a strategic metal.
‘‘There are companies around the world who need tungsten but are finding it difficult at the moment to find access to long-term supply.’’
Mr Smith said Newcrest did not want to participate fully in the marketing of tungsten but ‘‘maybe another partner can get involved to take the tungsten from O’Callaghans off our hands’’.
He said Newcrest was confident O’Callaghans would be easy to mine and could become a substantial player in the tungsten market.Tungsten prices were rising and looked set to continue appreciating given the tight supply, he said.
Shares in Newcrest closed up 24 cents to $32.68.
Time Ex Price Change Volume Buyer Seller Markers
14:20:24 T 0.15 +0.02 2,000 79 CIBC 9 BMO Nesbitt K
14:20:24 T 0.145 +0.015 3,000 79 CIBC 7 TD Sec K
14:20:24 T 0.14 +0.01 5,000 79 CIBC 1 Anonymous K
12:44:52 T 0.13 - 15,000 85 Scotia 33 Canaccord K
11:38:50 T 0.13 - 434,000 31 Dominick 89 Raymond James K
11:38:50 T 0.13 - 20,000 31 Dominick 89 Raymond James K
11:38:50 T 0.13 - 10,000 31 Dominick 1 Anonymous K
09:35:04 T 0.125 -0.005 2,000 85 Scotia 19 Desjardins K
09:35:04 T 0.13 - 3,000 7 TD Sec 19 Desjardins KL
I think these guys bought 460k shares...D & D Securities - Home
Tungsten scenario..today
“Keep an eye on tungsten,” Byron King urges, just back from London, where he met with some notable names in the energy and mining industries. “As I’ve mentioned before, tungsten is critical to machine tools and numerous other high-tech applications.
“What we're seeing globally -- and what several top-level experts confirmed to me this week in London -- is that there are some metals facing looming supply shortages. The days of a user just calling up the supply house and ordering off the shelf are ending. Tungsten is in one of those scenarios just now.
“Several of the world's largest non-Chinese tungsten mines got bought outright this year by tungsten users. The users understand that their supply chain is only as strong as the weakest link. And that weak link is the supply of ore in the ground plus the mine, mill and upgrading facility to obtain the basic raw material.
“It's not like there are a slew of other mines out there waiting for the price to go up so they can open the workings and push product out the door. In the West, there is only LEGACY tungsten mining -- mines and mills from years ago. There's NOTHING new in the pipeline.
“If you want to have some exposure to a critical, strategic metal with virtually NO substitute, you need to own some shares of one miner in my Energy & Scarcity portfolio. “I've met the CEO, and he's a solid player. He has a working mine, he's selling product, he has cash flow and he has ANOTHER mine that he's working to develop. It's a rock-solid story.”