America Decline is an opinion formed by extrapolating the past bad new forward and is not necessarily so. Ritholtz |

 This video is worth watching and listening to, if you need a lift from all the gloom and doom in the financial news.  It is easy to get optimistic after spending time with young entrepreneurs and all the Blue Sky predictions they make.  Maybe he is more optimistic than economic reality would suggest he should be.  Where is the growth in the ECONOMY AND THE JOB CREATION needed to get the mainstream of Americans back to work and wanting to spend again?

America Is So Not In Decline: Ritholtz | Daily Ticker - Yahoo! Finance

 
After five years of financial crisis followed by economic frustration, many Americans are starting to believe that the country's best years are behind it and that we're starting a long, slow decline.

Balderdash, says Barry Ritholtz, the writer of the Big Picture and a fund manager at Fusion IQ.

It's true that America's in the middle of a stagnant economic decade, Ritholtz says, and the lousy growth will probably continue for the next 5 years. That's how long it takes countries to work through the aftermath of a debt-binge and financial crisis like the one we just had. And the U.S. isn't going to find a miracle cure, no matter what the politicians say. (he seems to be contradicting himself here?  Where's the optimism in that...?)

But longer term, America's still in great shape, Ritholtz says.

Unlike Japan, which has wallowed in economic misery for more than two decades since its own real-estate bubble burst, the U.S. economy is still the most dynamic and innovative in the world.

If you want a vivid demonstration of that, Ritholtz says, just visit Silicon Valley, which is leading the world in tech innovation.

Ritholtz just returned from one of the dozens of tech conferences each year that feature hot tech start-ups, and he says he was very impressed by what he saw. (He sounds like he is in the ether and may be giddy and in a few days, he will get back down to earth.)


Source:
 http://finance.yahoo.com/blogs/daily-ticker/america-not-decline-ritholtz-122217030.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+DailyTickerRss+%28Yahoo!+Finance%3A+The+Daily+Ticker%29

Acorda News Release | Acorda.com

Acorda News Release | Acorda.com

Acorda Therapeutics Presents Preclinical Data Showing Dalfampridine Improves Motor Function in Chronic Stroke

First ever data to demonstrate improvement in motor function following stroke with oral drug treatment initiated several weeks after event HAWTHORNE, N.Y.--(BUSINESS WIRE)--Feb. 3, 2012-- Acorda Therapeutics, Inc. (Nasdaq: ACOR) presented data showing that treatment with dalfampridine improved motor function in a preclinical model of stroke, with treatment initiated at least four weeks following the ischemic event. These data were presented on February 2 at the American Heart Association/American Stroke Association International Stroke Conference in New Orleans, LA. Dalfampridine, also known as 4-aminopyridine, is the active chemical ingredient in AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg. “These are the first preclinical data to show an oral pharmacologic treatment can improve function in chronic, or long term, stroke. We are excited by these results and plan to begin proof-of-concept human clinical trials of AMPYRA in people with chronic stroke later this year,” said Andrew R. Blight, Ph.D., Acorda Therapeutics’ Chief Scientific Officer. “The majority of the nearly seven million people in the United States who live with the long term effects of a stroke have motor function deficits, such as walking impairment, but there are no established treatments other than physical therapy to address these impairments.” A late-breaking science presentation, entitled “Dalfampridine Improves Sensorimotor Function in Rats with Chronic Deficits Following Middle Cerebral Artery Occlusion,” presented by Acorda scientist Jennifer Iaci, reviewed data from three study groups that received treatment beginning four weeks after a permanent middle cerebral artery occlusion (pMCAO). The neurological impairments that result are expected to be permanent by four weeks, which represents the chronic stage of stroke. Each group received three treatment phases over the course of the study: high and low doses of dalfampridine, and placebo. The order of the treatment phases was different for each group, with a 10 day washout period between each phase. Researchers assessed functional improvement using a battery of standard motor function tests in both the forelimbs and hind limbs. In each of the three study groups, treatment with dalfampridine resulted in significant improvement in function compared to placebo across all measures during the respective treatment periods. Improvements in the high dose phase were consistently better than those seen in the low dose phase. “In addition to the seven million Americans living with the consequences of a prior stroke, there are close to 800,000 people in the United States who have new stroke events each year. The resulting disability has a major impact on the person who suffers the stroke as well as on their caregivers, and places a significant burden on the healthcare system,” said Seth Finklestein, M.D., Chairman and Chief Scientific Officer of Biotrofix, a preclinical research organization that conducted research for this study in partnership with Acorda. “These are the first data from a well-controlled preclinical study that have demonstrated improvement in motor function related to walking and upper body movement. Developing a therapeutic option that can improve function would represent a potential major advance in the standard of care for stroke survivors.” Acorda plans to begin a proof-of-concept trial of AMPYRA in stroke by the end of 2012. This study will evaluate the use of AMPYRA in stroke patients with chronic neurologic deficits, including walking impairment. AMPYRA is approved in the United States as a treatment to improve walking in patients with multiple sclerosis (MS). This was demonstrated by an improvement in walking speed. AMPYRA is known as prolonged-, modified-, or sustained-release fampridine (FAMPYRA®) in some countries outside the United States.  About Acorda Therapeutics Acorda Therapeutics is a biotechnology company focused on developing therapies that restore function and improve the lives of people with MS, spinal cord injury and other neurological conditions. Acorda markets AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg, in the United States as a treatment to improve walking in patients with multiple sclerosis (MS). This was demonstrated by an improvement in walking speed. AMPYRA is marketed outside the United States as FAMPYRA® (prolonged-release fampridine tablets) by Biogen Idec under a licensing agreement from Acorda. AMPYRA and FAMPYRA are sold under a license from Alkermes Pharma Ireland Limited and manufactured by Alkermes Pharma Ireland Limited and other parties. The Company also markets ZANAFLEX CAPSULES® (tizanidine hydrochloride) and Zanaflex tablets, a short-acting drug for the management of spasticity. Acorda is developing an industry-leading pipeline of novel neurological therapies. The Company is studying AMPYRA to improve a range of functional impairments caused by MS, as well as its use in other neurological conditions, including cerebral palsy and chronic stroke. In addition, Acorda is developing clinical stage compounds AC105 for acute treatment of spinal cord injury and GGF2 for treatment of heart failure. GGF2 is also being investigated in preclinical studies as a treatment for neurological conditions such as stroke and spinal cord injury. Additional preclinical programs include rHIgM22, a remyelinating monoclonal antibody for the treatment of MS, and chondroitinase, an enzyme that encourages nerve plasticity in spinal cord injury.

Natural Gas Prices DOWN to "bargain basement" levels???

The Chart for Natural Gas looks like a disaster zone...
When and why does a market like this turn around? 

Professor Mark J. Perry -  Economics and Finance Blogger

Monday, April 23, 2012

Speculators Are Driving Natural Gas Prices DOWN, Not Up, Reflecting Market Forces: Supply, Demand

 Prices for June 2012 natural gas futures contracts on the CME, which have fallen from about $5 per million BTUs to $2 over the last year. 

Commodity prices in both the spot market and futures market are ultimately determined by the twin market forces of supply and demand, and cannot easily be manipulated to deviate from the overwhelming, natural and powerful forces of market fundamentals.

When natural gas prices are falling, it's a sure bet that increases in supply and/or decreases in demand, e.g. due to mild weather, are responsible.  When oil prices are rising, it's a sure bet that decreases or potential disruptions in supply and/or rising demand are responsible.  If speculators bet against market forces and the direction of prices resulting from those forces, it's likely they'll get punished with losses.

On the other hand, if they correctly predict the pending effects of market forces on future price changes in oil or gas ahead of other traders, they could be rewarded with gains; but it's because they're betting on the market, not against market forces.

The St. Louis Fed says speculators jacked up oil prices 15 percent in the 2008 run-up.

"However, speculation significantly contributed to the oil price increase between 2004 and 2008. Our analysis pins down the start of speculative forces driving oil prices in 2004, which is when significant investment started to flow into commodity markets. 

We find that the decline in the real price of oil in late 2008 is driven mainly by the negative global demand shock associated with the recession after the Financial crisis. 

However, we note that the speculative shock also played a significant role in the decline as the financial crisis eroded the balance sheets of many Financial institutions, which in turn affected their demand for commodity assets in their portfolio, consequently pushing prices down."
 

Canadian Venture Exchange (CDNX)

Canadian Venture Exchange (CDNX)

The Canadian Venture Exchange (CDNX) was formed in late 1999 through the merging of the junior exchanges in Canada, i.e. the Vancouver stock Exchange, the Alberta stock Exchange, and various "parts" of the other, more senior exchanges (the Toronto stock Exchange and the Montreal stock Exchange) as well as the CDN, Canadian Dealing Network (which really isn't a stock exchange but is more like the OTC-BB in the USA, i.e. a market for "unlisted" stocks). The vision for the CDNX was to be the exchange for venture (i.e. young, emerging) companies. The CDNX listed (in 3 different categories) smaller, emerging companies such as junior technology ventures. In early 2002, the Toronto stock Exchange (TSX) acquired the CDNX and renamed it the tsx-v, for tsx-venture Exchange, with its head office in Toronto. 

 

Vancouver Stock Exchange (VSE)

The Vancouver stock exchange (VSE) was one of Canada's junior company stock exchanges. On March 15, 1999, the VSE and the ASE (Alberta stock Exchange) agreed to merge and form the CDNX - the Canadian Venture Exchange - which will also take on some junior Toronto and Montreal Exchange companies. The VSE got a bad reputation in the 80's due to many unscrupulous scam artists manipulating VSE listed companies. New regulatory controls and surveillance systems which had been implemented on the VSE were transferred to the new CDNX. In 2002, the CDNX became the tsx-v.

TSX Venture Exchange 

 http://www.tmx.com/en/listings/venture_issuer_resources/finance_manual.html

 

Investing in Renewable Energy

 This article is presented here as a good synopsis of the 'players' in the public company realm of enterprises managing renewable energy projects. This article is presented here as a good synopsis of the 'players' in the public company realm of enterprises managing renewable energy projects.

 

Five Types of Renewable Energy Investments

January 24, 2012  | 2 comments  |  includes: AMSC, EBR, FSLR, GE, MY, ORA, SI

 

The future must entail clean, renewable energy.   There are only a few alternatives to the hydrocarbon-based energy:  Solar energy, Bio-fuels, Geothermal energy, Hydro-power, and Wind energy


In each sector, there are good companies to consider.

1. Solar Power.  

Warren Buffett's investmented in two utility-scale solar projects supplied by First Solar (FSLR).

Falling solar panel prices also bode well for consumers as widespread acceptance and increasing affordability have increased the industry's demand and long-term future. First Solar remains one of the few viable investments in this sector, with its industry-leading margins that have kept the company profitable throughout the crisis.

2. Biofuels. 

The industry is trying to shake off the negative image of unsustainable ethanol.

 Innovative and proven second generation technology exist but is struggling remains to raise capital and gain public acceptance.  Capital investment is needed to bring commercial scale production capacity online.

Most advanced in this area is Solazyme (SZYM), which utilizes algae-based technology to convert non-food sources into renewable oil equivalents, chemicals, food and even cosmetics.

One company providing sustainable ethanol is Cosan (CZZ), a Brazilian-based sugar company leading in ethanol production capacity and distribution capabilities.  American ethanol subsidies have come to an end so Brazilian-based ethanol companies may continue to outshine their counterparts in America.

3. Geothermal Energy. 

Geothermal is a comparatively small industry.  . Yet is one of the more stable prospects.

Ormat Technologies (ORA).  founded 1965 is the only vertically integrated provider of geothermal energy.

4. Hydropower. 

Hydropower is a stable and longstanding  industry.  Hydropower companies tend be utility companies  requiring large longterm capital expenditures  to build a dams and other infrastructure..

Brazil remains one of the greatest developers of hydropower with its vast river resources, abundant rains, and lack of alternatives when it comes to energy sources.

Centrais Electricas Brasileiras (EBR), - Electrobras, operates 29 hydroelectric plants throughout Brazil. The company is diversified into thermal, coal and oil power generation units,

5. Wind Energy. 

The wind industry is dominated by China, which dethroned the United States in 2010 as the largest wind power installer.  

General Electric (GE) or Siemens (SI), neither of which are pure plays..

China Ming Yang Power Group (MY), trading on the NYSE since 2010, is the largest non-state owned wind turbine manufacturer in China.

The company has encountered rising expenses and difficulties including weather related interruption to installations.

Management has initiated a share repurchase program for $50 million, company market capitalization of $359 million as of January 23, 2012.

Former Goldman trader schools the Muppets

 The former Goldman trader may not work for them anymore but he kept his wily instincts for a buck earned by cleverness and being on the inside track.

Commentary: Deck stacked against them, retail traders seek magic ticket

‘It’s shocking how little retail investors know.’

Anton Kreil

Former Goldman trader schools the muppets - Shawn Langlois's London Sketch - MarketWatch

LONDON (MarketWatch) — Anton Kreil  Kings College  two-hour trading seminar. 

 the path to financial success 

When someone tells me about shortcuts to big money and “can’t lose” trading strategies, I generally shunt him or her into the corner of my brain that houses the likes of L. Ron Hubbard and Donald Trump. 

 Prepared to, at best, be entertained, and, at worst, to be slapped in the face with the greed, hubris and unethical behavior wafting through Wall Street and the City....

Kreil started his talk with — what else? — a video of his astronaut training, “Top Gun”–style. So far, so strange. Pilot jumpsuits, rock music, footage from inside the cockpit, Kreil doing his Maverick impersonation.

As for his relevant skill set, Kreil got started early, trading his own account as a teenager until Goldman Sachs gave him a desk. He then made his way through various positions at Lehman and J.P. Morgan before bailing out and going on one of those soul-searching trips around the world. All before turning 30.

He’s out on his own now, coming off a star turn in the 2009 BBC miniseries “Million Dollar Traders,” in which rookie traders were given a million dollars with the aim of beating the professionals. They did. 

After some idle banter about g-force and world records, he launched right into the meat of his seminar: 

Day trading doesn’t work. It’s “the big dupe” perpetrated by brokers. They make money, you lose money. 

It’s the 90/90/90 rule: 90% of you will lose 90% of your money within 90 days. 

The brokers and trading desks get paid no matter what. At this point, I was waiting to hear this: “Lucky for you, I’m different. And here’s why!”

Over the next 90 minutes, Kreil dropped some insightful glimpses into how the brokerages view their “muppets” (yes, he used the word) and how woefully misguided the retail, private trader is.

Lambs to the slaughter.

“Brokers just want to churn the [bleep] out of you until you blow up,” he said. “It’s shocking how little retail investors know.”

He has compiled decades’ worth of statistics to support the argument that the whole system is rigged against the average Joe from the start. Filtering out the nonsense and overhauling the prevailing mind-set is the only way to survive and build the balance sheet.

Among his many tips, he urged attendees not to get bogged down with technology. It’s just a distraction. Forget the blinking lights and the siren song of your trading terminal. And, for the love of all that is holy, forsake those handheld devices.

“Steve Jobs wasn’t a genius because he gave us the iPhone; he was a genius because he understood humans,” he said. “He legalized crack and put it in your hand.” As Kreil turned away, I slid my 4S under a notepad.

Kreil’s overarching point was that the little guy needs to think more like the big guy — there’s really no magic sauce. Contrary to popular opinion, the folks at Goldman and J.P. Morgan aren’t smarter than anybody in this room, he pandered. Like Kreil, himself, they just found a way inside.

In fact, Goldman’s senior investment strategist, Abby Joseph Cohen, is “the worst trader I’ve ever come across,” he said. “She’s top-ticked every bull market for the past 20 years.” 

Ignore the analysts. The media. It’s all a bunch of political maneuvering inside those walls, anyway, he said.

Without going into too much detail, Kreil explained that day trading is but a small part of a hedge fund’s strategy. Rather, the pros put together diversified portfolios of shorts and longs with horizons of one to three months. Avoiding losses is the priority. 

“Of course there are bad hedge funds, and there are crooks, but, excluding this tiny minority, the outcome of most hedge funds is, first, capital preservation and, then, growth,” he said.

“For independent traders, the outcome of day trading is capital destruction.” 

Why? At the risk of oversimplifying matters, the market is a “sleeping beast” 75% of the time, he said.  Intraday trading during these sessions is a fool’s game. The good hedge funds aren’t doing it, so why are you?
 

But when volatility picks up, the seasoned vets reduce their exposure in their medium-range portfolios by raising cash. Only then do they start “punting” the market. In other words, when the wild swings are there, so is the smart money, setting targets and stops, appropriately.

Kreil aptly compared it to counting cards at a blackjack table. When the odds tilt in your favor, have a go. When the count says otherwise, bide your time. Until you get caught, of course. Then it’s on to the next casino.

After two hours, it was finally time for the big payoff. The kicker. A step-by-step guide to riches. The whole reason this group had come to the bowels of Kings College in the first place.

How can we be more like you, Anton?
The answer: Come to the next session. This time it’ll cost you.

Fair enough. This is London, and even a Goldman Sachs alumnus has to eat.

Shawn Langlois is an editor and columnist for MarketWatch in London.

Disney
Those other Muppets.

The Online Ben Graham - Barrons.com

The Online Ben Graham - Barrons.com


The Online Ben Graham - Barrons.com




What value investor doesn't like Benjamin Graham? He's famous worldwide, with his strategies and tactics imitated by some of investing's best-known names.

Investment Maxim (www.investmentmaxim.com) is the latest service to offer individuals an opportunity to view the market as he would.

Based in India, Investment Maxim has a more international flare than similar valuation services—GuruFocus (www.gurufocus.com), YCharts (www.ycharts.com) and Validea (www.validea.com)—because, unlike those sites, much of its data come from foreign exchanges.

THE VISITOR CHOOSES FROM among five strategies from Graham, 10 from other gurus, four of Investment Maxim's own design, and two very general technical screens. A rather unusual "Score Board" feature will cross-reference a particular strategy's o output against other experts' approaches to see just how steeped in Grahamism they are.


Free registration provides access to preconfigured screeners that serve up a dozen or more prospects, based on the investing styles of Warren Buffett, David Dreman of Dreman Value Management and former Fidelity Investments manager Peter Lynch, with a few parameters that define the strategy. For example, output for Peter Lynch's growth at a reasonable price, or GARP, strategy includes the average earnings-per-share growth rate, debt-to-equity ratio and PEG (price/earnings to growth) ratio.

A $175-a-year subscription permits unfettered access to all strategies, screeners, the portfolio manager and data from five international-exchange indexes—the S&P 500, Toronto's S&P/TSX, the U.K.'s FTSE 100 and India's Nifty50 and CNX100.

However, the only U.S. stocks covered here are the 500 in the S&P, which accounts for about three-fourths of American stock-market capitalization.

In contrast, Validea includes data on 6,500 U.S. tickers for its $270 annual subscription price, while GuruFocus maintains a database of 8,700 stocks, including some in the pink sheets, for $289 a year. YCharts delivers 10 years of stock history on more than 5,000 issues for $384 a year.
Long story short, Investment Maxim has an international tilt, applying valuation analysis to overseas markets that have been garnering increased interest from U.S. investors lately.

The first Graham strategy, Net Current Asset Bargains, is something of a model for the other four. Its awkward name aside, NCA is a simple concept that could be summed up as "Never pay retail."
Specifically, it counsels paying less for a stock than the value of its net current assets alone. Graham determined these by focusing on the sum of cash, short-term investments, three-fourths of accounts receivable, and half of inventory less total liabilities.

An Investment Maxim screen uses this approach in identifying the top 20 prospects from each of five international indexes. However, the site is a little underpowered when it comes to tracking these picks. Its portfolio manager has room for little more than the most basic metrics, and is definitely not a place from which to manage sizable and varied holdings, versus Personal Capital's (www.personalcapital.com) portfolio manager.

Investment Maxim's company dashboard offers a drill-down function that serves up key metrics for a stock, but there's no way to add them to the portfolio manager.

SUBSCRIBERS ARE LIMITED TO only five portfolios of 10 tickers each—a reasonable number for most folks, but a low ceiling for advanced investors who keep multiple watch lists. If you want to see a really good online portfolio manager, check out Wikinvest (www.wikinvest.com).


Although the Investment Maxim Website is a bit spare, that quality can be a plus for investors who know what they want to do and are looking for offshore data. It's also not a bad place for new investors to get the short course on valuation analysis.


E-mail: mike@mikhogan.com

Aura Minerals is making new low share prices

This blog has been following Aura Minerals as a 'real world' case study of an intermediate mining company. They have properties in the development stages and other properties are in production.

The company literature sounds very positive but the falling stock price might be saying people are losing faith in the prospects for Aura.

Today's volume was relatively high compared to the average daily volume.

 

 

News: Aura Minerals Inc (ORA.TO)

ORA.TO on Toronto Stock Exchange

0.75CAD
3:59pm EDT

Price Change (% chg)

$-0.05 (-6.25%)

Prev Close
$0.80

Open
$0.85

Day's High
$0.87

Day's Low
$0.74

Volume
419,802

Avg. Vol
78,345

52-wk High
$3.12

52-wk Low
$0.80

This Detail From Chipotle's Earnings Call Is HUGE For The Company's Future - Business Insider

This Detail From Chipotle's Earnings Call Is HUGE For The Company's Future - Business Insider

 Wall Street is buzzing about Chipotle's monster first quarter, which was driven by a 12.7 percent jump in same-store sales.

They're officially the hottest burrito chain, if not the hottest fast-food chain, in America.

The stock is up a whopping 400 percent in the last 3 years.  And now everyone wants to know, which company could be the next Chipotle.

Deutsche Bank's Jason West: Maintain Buy: West has $480 price target for CMG.

Read more: http://www.businessinsider.com/chipotle-earnings-call-shophouse-2012-4?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=new-BI%20Select_Alert#ixzz1scE8yGsy

Spain Jolts Global Markets - WSJ.com

Spain Jolts Global Markets - WSJ.com

BY CHRISTOPHER BJORK AND JONATHAN HOUSE

Fresh signs of stress among Spanish banks sent shudders through European markets on Friday and helped push U.S. stocks to their worst week this year.
New data showed Spanish bank borrowing from the European Central Bank surged to new highs in March. The report was seen as an indicator that skittish international investors had left Spain and its banks to rely on ECB funding, at a time when concerns were mounting over the country's ailing finances.
Those worries combined with broader concerns about the world economy, sparked by softer-than-expected Chinese growth, to produce a miserable day in global markets.
Investors ...