CNBC’s Melissa Francis inadvertently ticked off one of the lovely OPEC ministers she was pointlessly attempting to interview by referring to the organization as a “Cartel“. Melissa shouldn’t apologize, she was right on the money… From Wikipedia: A cartel is a counterfeit agreement among industries. It is an informal organization of producers that…
Oil
Vikings Do It Better
“The strongest man is he who stands alone in the world” – Norwegian Playwright Henrik Ibsen Fascinating story in the NY Times this morning about how Norway, a nation of less than 5 million people but a relatively huge $68 billion in oil revenue last year, was able to buck the global crisis. Preservation of…
Market Recap: High as a Kite
http://www.youtube.com/watch?v=-j-DGrWry6k The Reformed Broker, AKA Georgie Jung, here with today’s Market Recap… Fundamentals be damned, US markets took the ball from the up overseas bourses and ran with it. The rally started at the open and anything China-related was once again, high as a kite. Copper, shippers, steels, coals…if it gets shipped to The Big…
Market Recap: The Battle
[youtube=http://www.youtube.com/watch?v=AMahxoftUFc] The Reformed Broker, AKA Buddy Lembeck, here with today’s Market Recap… Much like Rhymefest* gives up the battle to Big Daddy Kane in the above video (my favorite of ’09 so far), the bears had to give it up to the bulls today as banks and techs stole the show. The airlines went berzerk…
Bail-ski: A Toast to the Russian Oligarchs, They're Gonna Need It
Forbes Russia just put out its 100 Wealthiest Russians lists and in the spirit of Glasnost, I thought I’d open up the discussion here. The numbers are out and the news is uglier than that thing on Gorbachev‘s head for Russia’s billionaire oligarch class… From Forbes Russia via The Guardian UK: The number…
Your Oil Stocks Aren't Coming Back, Chulo
Remember when Intel (INTC), Microsoft (MSFT), Dell (DELL), Lucent (ALU), Yahoo (YHOO) and Cisco (CSCO) ruled the markets? There was an era, roughly 1997 to 2000 when those stocks actually mattered. They were important companies doing big things in terms of providing the technology needed for the next century’s communications and internet build-out. And then,…
