Monday, August 01, 2016

UBS Warns Of Problems Ahead
Sergio Ermotti, chief executive of the bank: "There is very little visibility about the future on every front, both macro and geopolitical. I don't see any relief in the foreseeable future."
LINK HERE to the article

1 comment:

Anonymous said...

Tisch Says We ‘Live by the Sword’ at Loews as Gold Bet Doubles

Loews investment in mining stocks fuels investment income gain
Gold investments have ‘come to life’ Tisch says on call

Loews Corp., the holding company run by New York’s Tisch family, was able to counter low bond yields and stock market volatility in the first half of this year with gold-related investments that doubled in value.

Second-quarter net investment income at Loews climbed to $56 million from $7 million a year earlier, the company said in a statement Monday.

“You die by the sword, you live by the sword,” Chief Executive Officer Jim Tisch said in a conference call discussing results. “We had, for a number of quarters, even years, suffered with gold investments. What’s happened in this most recent quarter is gold investments came to life.”

“I am not, nor is anybody else here at Loews what you would call a ‘gold bug,”’ Tisch said, using a phrase for investors who are most optimistic about the metal’s prospects. “But it is interesting to me that in the first half of this year, with a relatively modest investment in gold securities, we’ve been able to earn an outsized rate of return.”

http://www.bloomberg.com/news/articles/2016-08-01/tisch-says-we-live-by-the-sword-at-loews-as-gold-bet-doubles