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Morning sports fans,

Another night of beating estimates from the US and tensions defusing in Europe..Markets pushed higher and US inflation starting to hit top end of the range…this will produce rate rises at some stage and smart players may be starting to buy US dollars in preparation …our market is trying really hard ..really hard but the results season will be the key…Iron Ore came off last night so expect a small intake of breath from our diggers…BHP numbers though this morning show more records falling for production so that’s a big tick for them and the market…expect a good go at the 5570 level today but maybe backing off this important level.

Idea of the Day

Last night I gave the Key Note speech at a resources Symposium. They call me the ‘Fluffer’!!! Anyway it was very encouraging to see so many people…standing room only and it shows the “punter” is back in small cap land..My theme was what is going to happen this financial year so happy to share with all you good people if you feel the need…anyway four companies presented…AOH,ARU,BSR and EXG…Gold, copper and rare earths…All interesting stories..

The most interesting to me was Altona Mining AOH which delivered big time in Finland by selling its Copper/Gold project for more than the market was valuing the whole company..leaving it with a pile of cash and a very interesting project in Queensland called Little Eva(same CuAg)…now this baby is run by a canny Scot and he is returning money to shareholders after the sale of Finland which will leave existing shareholders with the QLD thing which the market is valuing at bugger all..it’s worth a lot more than that..

Altona before capital return and after sale completed

  •  100% Little Eva
  •  $120-$125 million cash
  •  22.6-23.5 cents per share cash

 

Altona after 15 cents cash return

  •  100% Little Eva
  •  $40-45 million cash
  •  7.5-8.5 cents per share cash
  •  Little Eva is free and cash is at a discount!

Think it’s a buy for speccy investors…

Others I liked were the BSR story..although it is Senegal and ARU…EXG were good too but work to do…

Don’t forget the Future Investment Fund I talked about yesterday.

Access to the best hedge funds in Australia

No Fees

1% of the funds assets goes to sick kids every year..so I guess that’s kinda like a fee but still goes to a good cause other than the ASX accountants and Fund managers who are doing it for nix!!

Compelling  and run by one of the industry’s best operators Geoff Wilson…

Things to make me go mmmmm!!!

Indian mining giant Adani Group is embarking on a overhaul of its Australian resources empire as it briefs investment banks for a potential selldown of its $2 billion Abbot Point coal port in Queensland.

Jackie Lambie!!!WTF!Where do we find these people!!

Rooney is emerging as front runner to captain England..thought that was a joke!!

rooney

 

Pork producer WH Group Ltd., whose IPO imploded in April after it enlisted a record 28 banks, is trying again, this time using just two main advisers…why is heavens name would you need 28 advisers I never know!!!!seems less is better..

 

 

Here’s snippet from Bloomberg.. “the world’s biggest company had a price-to-earnings ratio of 165 a little more than a decade ago. That’s higher than most of the current valuations for the 121 stocks in the Nasdaq Biotech Index and all but two of the companies in the Nasdaq 100 Index. You probably don’t need to be told what happened to Apple’s stock after reaching that lofty P/E in September 2003, but here it is anyway: It rallied almost 6,000 percent.”….There is hope for Amazon yet!!!

The rumour of the day…US officials (not saying which ones) have stated that intelligence(!) suggests Malaysian Airlines Flight MH17 was mistakenly shot down by separatists and can find no link to Russia….trouble is someone must have trained those guys to fire that rocket..it’s not a video game!! RasPutin’s Russian Bear paw prints are all over this …but US seems to be backtracking a little…shame on you…

1in 25 New Yorkers is a Millionaire!!!

Investors in WPL are looking increasing likely to vote down the buy back to sort out the Shell sell down..not happy at all…

One to watch…MYR..good yield and who knows what Solly will do..but may be he thinks he can weave his magic…would appeal to his sense of humour I suspect…on my takeover list now DJs has gone!!!

Nobody really watches this much but the Baltic Dry index..the measure of how much it costs to ship stuff like coal and ore around the world has collapsed…this does point o a world slowing down…IMF may pull back its GDP forecasts and the US may hit a technical recession this week!!

20140722_BDIY2

 

 

 

 

 

 

True to form the Dow rallied on a Tuesday!!!

60%

 

Some rare honesty from the Portugese leader talking about the Espirito bank in trouble..everyone else says it’s a non-event except..he said “We cannot ignore that there will be some impact on the real economy,” thisis an economy growing at a massive 0.9%…

 

I would urge everyone to watch the Four Corners show from Monday night on ‘Generation Like’..and get your kids to watch it..fascinating and shows how much the whole media landscape is changing..it’s on iView..great resource…

And finally…

The lawyer says: “I have some good news and bad news”

The CEO replies: “I have had an awful day, let’s hear the good news first.”

The lawyer says: “Your wife invested $20,000 in five pictures that are worth a minimum of $2 million”

The CEO replies enthusiastically: “Well done, very good news indeed ! You’ve made my day; now what is the bad news?”

The lawyer answers: “These pictures are of you in bed with your secretary”

Love to hear any feedback from you guys out there…don’t forget to sponsor me to do the City to Surf…only got $300 so far..would love to get to $1000…https://city2surf2014.everydayhero.com/au/henry-2

If you promise to sponsor me I will give you this one for free!!!thanks Marilyn and Hans for today’s contribution!!

A Drover appeared before St. Peter at the Pearly Gates.

‘Have you ever done anything of particular merit?’ St. Peter asked.

‘Well, I can think of one thing,’ the Stockman offered.

 

‘On a trip out the back of Longreach in Western Queensland, I came upon a gang of bikers who were threatening a young woman.

 

I asked them very nicely to leave her alone, but the mongrels wouldn’t listen.

So, I approached the largest and most tattooed biker and smacked him in the face, kicked him in the bum, knocked his bike over, ripped out his nose ring, and threw it on the ground.

Then I yelled, ‘Now, back off you bastards or I’ll kick the crap out of all of you!’

 

St. Peter was impressed, ‘When did this happen?’

 

‘A couple of minutes ago!’

 

Have a great Wednesday…On sky biz at 12.00 ..ask me a question !!!

 Clarence

XXX

 

Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.

Get a Global take on things at www.ntmarkets.com

Get a Global take on things at http://www.ntmarkets.com

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