It's going to get into the nineties this weekend in my neck of the woods. Time to turn on the AC and crank out another installment of Five for the Weekend. Let's roll.
- Reading Holman Jenkins' piece on General Motors this week gave me a few chuckles. Though as a former GM shareholder battered and bruised from losing money on it big time, I guess I could say it only hurts when I laugh. Writing about President Obama and one of his supporters in Nebraska: "He might consult with the Sage of Omaha, who has become a fan of the rail business. What would make Sir Warren similarly enthused about investing in GM? The answer, we're guessing, is not more cars like the Chevy Volt. The banks get all the attention, but they have the power to earn their way out of trouble. Not GM, the way things are going. St. Warren could do the king a real service by warning him off a path with Detroit that could end up blighting all the years of his reign." If Krugman can win a Nobel, why can't Jenkins get a Pulitzer?
- Matthew Lynn writes in The Spectator about the prospect of private security companies (mercenaries) being used to protect ships and crews against pirates. Regular Controlled Greed readers will recognize one name in the article: ArmorGroup. I used to own ArmorGroup stock until the company got bought out. I made a nice gain (just over 60%) -- but that's when I used to make money in stocks. Oh well. Anyway, I no longer have a dog in this hunt. But I said when owning ArmorGroup that PSC's have a role in the world, despite what World Savers and Do Gooders say.
- Speaking dangerous places, LonZim is the Zimbabwe investment arm of Lonrho PLC, another familiar name to regular readers (I don't own either). Two LonZim investors holding about 24% of the stock want the company to liquidate and distribute the proceeds to shareholders. LonZim management is, no surprise, against the idea.
- Diversity and asset allocation are topics we've been seeing more and more in this bear market. Personal finance isn't my thing (aside from the fact we all engage in it whether we want to or not) on this blog, but I respect Jane Bryant Quinn. Her Bloomberg column this week gives a thoughtful discussion on this area.
- News broke Friday that China's gold reserves have risen sharply -- news that will certainly have the gold bugs excited. Here's the Reuters report.
Have a great weekend. See you next week if not sooner.
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