Michael Cuggino News
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Ten days of pessimism flared into gold’s worst rout since 1980 this week, with selling so strong it knocked the world’s third-biggest exchange-traded fund further below its asset value than any time in a year.
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Michael Cuggino’s Permanent Portfolio has been sticking with the same asset mix for almost three decades, a combination of gold, silver, the Swiss franc, stocks and bonds meant to guard against inflation and recession.
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Gold’s worst start to a year in a quarter century and the biggest sales by investors on record are increasing concern that bullion’s longest rally since the end of World War I is ending.
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U.S. commodity and industrial stocks are among those poised to benefit from the growing global economy, according to Pacific Heights Asset Management LLC’s Michael Cuggino .
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Slumping energy and metal prices sent commodities to their biggest monthly loss since May, lagging behind stocks, bonds and the dollar, as the global economy grew at the slowest pace since the 2009 recession.
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The only three analysts to correctly predict gold’s biggest quarterly slump in four years are now split, reflecting investors’ diverging views on the probability of central banks doing more to shore up growth.
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Groupon Inc., the largest online- coupon site, may have to settle for a smaller initial public offering as management gaffes, restated results and regulatory scrutiny leave investors leery of owning the stock.
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The U.S. stock-market rally to an almost-record high has left the Standard & Poor’s 500 Index trading at the most expensive level in 18 months.
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Speculators increased their bullish commodity wagers for the first time since November as signs of accelerating growth in China and the U.S. drove prices higher for a fourth consecutive week.
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Gold is poised to complete its 11th consecutive annual gain, the longest winning streak in at least nine decades, on the brink of a bear market.
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