Berkshire Hathaway Boosts Stakes in U.S. Bancorp, BNY Mellon

Warren Buffett's Berkshire Hathaway increased its stakes in U.S. Bancorp (USB) and Bank of New York Mellon (BK) during the second quarter.

The conglomerate disclosed in a regulatory filing that it bought roughly 840,000 shares of U.S. Bancorp's stock, raising its stake in the Minneapolis company to 4.3%. Berkshire Hathaway also bought about 9,000 shares in Bank of New York Mellon, boosting its stake to 2.2%.

Source : http://www.americanbanker.com/issues/178_229/berkshire-hathaway-boosts-stakes-in-us-bancorp-bny-mellon-1063937-1.html

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Faber: We are in a Massive Speculative Bubble

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Unpredictable risks caused 2008 economic crisis, says Soros at Budapest CEU

Risks can be quantified but all of their elements cannot be calculated in advance and this led to the 2007/2008 financial crisis, US financier and philanthropist George Soros said on Wednesday at the university he founded in Budapest.

The Hungarian-born businessman launched the Hungarian edition of his latest book The Soros Lectures at the Central European University, where he is honorary chairman of the board.

The book presents his general theory of reflexivity and the concept of open society.

Source :http://www.politics.hu/20131128/unpredictable-risks-caused-2008-economic-crisis-says-soros-at-budapest-ceu/

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RICI Rogers commodity index cuts 2014 US crude weighting

Rogers International Commodity Index (RICI), managed by veteran investor Jim Rogers, will cut its weighting toward crude oil next year and raise exposure to natural gas, gold and silver, due to what Rogers termed "consumption changes". The shift in weightings of the RICI comes amid projections for higher US crude oil supplies in 2014, which some analysts say could further weigh on weakening prices. 

US natural gas production is also expected to rise next year, although gas prices have been trending higher lately due to cold weather in key consuming regions of the country. 

RICI's weighting for the West Texas Intermediate (WTI) crude, the benchmark grade for US oil, will be cut by 5 percent next year to 16 percent, according to Beeland Interests, Inc, the Rogers-controlled company that runs the index. 

Source: http://www.brecorder.com/fuel-a-energy/193/1259881/

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United Kingdom: Historic Perspective

"In 1918 the UK was the richest most powerful country in the world. Within three decades they will bankrupt and they were bailed out by the IMF…it was not a pretty sight." - in RT

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Marc Faber : In India you either get a Strong Currency and a weak Stock Market or a Weak Currency and the Strong Stock Market

It is true that the market in local currency is at the relatively elevated level, but not in the US dollar terms. In the US dollar terms, we are still down something like 40% from the peak a few years ago. So I always argue, in India what you get is either a strong currency and a weak stock market or a weak currency and the strong stock market because they adjust to each other. My feeling is that the market may still go up somewhat. I think compared to, say, Chinese .. 

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The Peter Schiff Show Tuesday 11/26/2013

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Warren Buffett calls Detroit land of 'huge potential'

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George Soros Invested in Dry Ships and Diana Shipping, but Should You?

George Soros' investment firm recently purchased 590,278 shares of DryShips and 77,942 shares of Diana Shipping . That comes out to a $1.8 million stake in DryShips and an $841,000 stake in Diana Shipping. Soros' firm currently manages right around $6.8 billion spread across 2,333 holdings, so these additions are a very small portion of the total portfolio. The firm also owns small positions in Navios Maritime Holdings and Navios Partners.

Whether it's Soros himself or his fund managers, it appears his company is making a small bet on the dry bulk shipping sector, with DryShips and Diana Shipping leading the pack. So just what would motivate Soros to invest in this sector?

Some history on Soros' motivations for speculating
Looking at Soros' biography in Money Masters of Our Time by John Train, Soros is known as a speculator by nature, with an ability to trade in and out of positions quickly using margin debt. His strategy revolves around three main points, according to Train:

1. Start small, and then if things work out, build the position bigger.
2. He doesn't need to know everything about a particular investment, just enough to have an edge on the market.
3. He has to correctly judge the risk inherent in a position the moment it's established. 

Source :http://www.dailyfinance.com/2013/11/26/george-soros-invested-in-dry-ships-and-diana-shipp/

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Jim Rogers : The Fed will self-destruct

Jim Rogers, “The Fed will self-destruct, before the politicians realize what is going on.”

Read more at : http://countingpips.com/forex-news/2013/11/fundamentals-rendered-irrelevant-fed-actions-probability-based-option-trading/

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Peter Schiff Debates Stefan Molyneux - Bitcoin vs. Gold: The Future of Money

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Marc Faber : The Fed can Buy the whole Stock Market

Be prepared for the next great transfer of wealth and the collapse of fiat currencies around the world. Buy physical silver and storable food.

Even if the market drops by 20 percent it is not cheap. The Fed could go into the market and buy the whole S&P500. They would have to borrow money or issue money but basically they can do it. It has happened before. In Hong Kong in 1997, the government came in and bought the stock market but at that time it was cheap.

Source: http://silveristhenew.com/2013/11/26/the-fed-can-buy-the-whole-stock-market/

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Ex-Soros Adviser’s Dalton China Fund Beat Peers With 25% Return

Nov. 25 (Bloomberg) -- The Dalton Greater China Fund, run by James Rosenwald III, a former adviser to funds linked to billionaireGeorge Soros, beat peers with a 25 percent return this year, an investor newsletter seen by Bloomberg News showed.

The $64 million fund outperformed the Eurekahedge Greater China Long-Short Equities Hedge Fund Index by almost 10 percentage points in the first 10 months. Bets on Taiwanese technology companies including Himax Technologies Inc. and Hong Kong-based property developers drove performance, Tony Hsu, Rosenwald’s Shanghai-based co-manager, said in an e-mailed response to Bloomberg News queries.

Read more at : http://www.sfgate.com/business/bloomberg/article/Ex-Soros-Adviser-s-Dalton-China-Fund-Beat-Peers-5008904.php

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George Soros gives $1 million to support Obama

(CBS News) Billionaire George Soros has donated $1 million to Priorities USA Action, a "super PAC" backing President Obama, a spokesperson for the group has confirmed to CBS News.

This is Soros' first donation to Priorities USA Action, though he announced$2 million in donations to two Democratic groups in May. He will also give another $500,000 to super PACs backing Democrats in Congress. Super PACs can raise and spend unlimited funds to influence elections, though they cannot legally coordinate with campaigns.
The New York Times, which first reported Soros' latest donations, reports that they were announced at a Thursday luncheon hosted by the Democracy Alliance, a liberal donor group, and headlined by former President Bill Clinton. The Times reported that others at the luncheon were expected to commit at least $10 million to Democratic super PACs.

Source :http://www.cbsnews.com/news/george-soros-gives-1-million-to-support-obama/

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Jim Rogers: Oil likely to fall

"Somewhere the OPEC will gather and say we have got to do something, because all of OPEC have not had great oil prices for a few years now. They have not cut back their spending and they are all spending a lot of money, so they need to keep the price up." - Money Control 

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China Economic Reforms have Slowed down

Q: The policy initiatives may look near perfect on paper, but no doubt the most challenging part will be implementation. What do you see as the biggest risk in implementation?

Jim Rogers : In the past few years, the momentum (for reform) in China has slowed because of vested interests and their fear of losing power. The new leadership now says let's move on and just do it. But it won't happen with a snap of the finger. - in Chinamoneypodcast

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Soros Increases Holdings in Teva to Most Since 2010

Soros Fund Management LLC, the family office of billionaire George Soros, increased its holdings in Teva Pharmaceutical Industries Ltd. (TEVA) to the most since 2010.

The firm, based in New York, raised its stake in Teva, the worst-performing pharmaceutical company in the U.S. in the past year, to 1.8 percent of its $7.75 billion U.S. stock portfolio in the third quarter, according to a filing with the U.S. Securities and Exchange Commission on Nov. 14. This would make it the largest allocation since the fourth quarter of 2010, according to data compiled by Bloomberg.

Teva fell to a two-year low on Nov. 4 after a rift over the company’s future with Chairman Phillip Frost led to the Oct. 30 resignation of Jeremy Levin, who was brought on board as chief executive officer less than 18 months before. Concern its best-selling product, the multiple-sclerosis injection Copaxone, will lose traction as it faces stronger competition is also weighing on the shares.

Source : http://www.bloomberg.com/news/2013-11-22/soros-increases-holding-in-teva-to-most-in-three-years.html

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Peter Schiff : While the Fed Talks Taper, China Prepares to Actually Do It!

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Warren Buffett : How to teach your kids about money

Do you think most parents do a good job teaching their kids about money? 

Most parents know how important it is to teach kids about money and managing it properly. There was a study many years ago questioning how to predict business success later in life. The answer to the study was the age you started your first business impacted how successful you were later in life. Teaching kids sound financial habits at an early age gives all kids the opportunity to be successful when they are an adult.

What do you think is the biggest mistake parents make when teaching their kids about money?

I think parents need to start teaching kids about the importance of managing money at an early age. Sometimes parents wait until their kids are in their teens before they start talking about managing money when they could be starting when their kids are in preschool.

What made you want to launch the Secret Millionaires Club? What do you hope kids get out of it?

Source: SMCkids.com

There are a number of educational programs out there, but there are not many programs that teach about Financial Literacy at an early age. Secret Millionaires Club can help kids develop the right habits that will serve them well for the rest of their life. If this program can have some effect on youngsters and help them develop better habits on money, it can have a major impact on their life when they are older.

Where did you learn about money?

My dad was my greatest inspiration. He was my hero when I was 6 and he is still my hero now. He is an inspiration to me in every way. What I learned at an early age from him was to have the right habits early. Savings was an important lesson he taught. I had all kinds of small businesses when I was growing up. When I was 6, I started my first business. I bought a six-pack of Coke for 25 cents and sold the cans for a nickel apiece. I also sold magazines and gum door to door.

What is the best lesson you've taught your own kids about money? 

I taught all of my kids the lessons taught in Secret Millionaires Club. They are simple lessons that are meant for business and for life.

Source: http://www.cnbc.com/id/101221055

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Jim Rogers : Mrs. Yellen thinks Printing Money is Good

But unfortunately they never have, and probably never will. Mr. Bernanke is certainly not going to stop it, because he doesn’t want to go down in history as causing the collapse. Mrs. Yellen, when she comes in, she’s not going to stop it, first of all she doesn’t believe in stopping it, she thinks printing money is good. And she knows – I hope she’s smart enough to know – that if she stops, oh my gosh, it’s going to collapse. So she’s not going to stop. Nobody wants to go down as causing the collapse of the world. So I’m afraid this is going to go on until the market eventually says to them, “Okay, enough is enough,” we have a big collapse and then they’re all thrown out and we can start over. 

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Bitcoin vs. Gold

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