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GSS Genesis Emerging Markets Fund Ld

869.00
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Genesis Emerging Markets Fund Ld LSE:GSS London Ordinary Share GG00B4L0PD47 PTG NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 869.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
871.00 872.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 869.00 GBX

Genesis Emerging Markets... (GSS) Latest News

Genesis Emerging Markets... News

Date Time Source Headline
10/1/202407:00RNSNONFidelity Emerging Markets Limited Kepler Trust Intelligence: New Research
06/6/202307:00RNSNONFidelity Emerging Markets Limited Kepler Trust Intelligence: New Research

Genesis Emerging Markets... (GSS) Discussions and Chat

Genesis Emerging Markets... Forums and Chat

Date Time Title Posts
05/10/202118:21Genisis Emerging Markets Fund (IT)14
04/12/201419:50Golden Star Resources (GSS) & (GSC.t)63
23/4/200205:07LOOK AT THIS5

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Genesis Emerging Markets... (GSS) Most Recent Trades

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Genesis Emerging Markets... (GSS) Top Chat Posts

Top Posts
Posted at 05/10/2021 18:21 by exotic
The charts for GSS seem to be flatlining now, so I've created a thread for the new ticker FEML:
Posted at 01/10/2021 12:47 by alan pt
Fidelity takeover passed, but with a substantial vote against:
Posted at 09/9/2021 10:39 by elbrus55
Yes, participating preference shares. They are the main share class (GSS) and the only one which is listed on LSE.
Posted at 08/9/2021 21:39 by exotic
Some might have missed news of the Tender Offer for 25% of shares announced Monday, at a price of NAV -2%.

Current discount to NAV is around 8%, so good news. But before I celebrate, could someone please put my mind at rest. The offer states it's for the "preference shares". I assumed mine were ordinary shares, but my contract note doesn't state which class they are. Are preference shares the default / only class here?
Posted at 02/7/2021 14:33 by jimcar
Well it hasn't been a Baillie Gifford takeover boost (had that with WPC).

I like Nick Price but wonder if he is taking on too much as he also runs Fidelity's Japan IT and their EM UT.

If you compare GSS with the Fidelity EM UT GSS has less China, less tech and more Frontier so under Fid it might be a bit more volatile.

Over the last year GSS returned 30% whilst Fid EM UT did 36% and over 5 years it was 83% v 95% so Fid's performance is a bit better
Posted at 11/1/2021 13:48 by exotic
Oh what a boring investment... but oh so profitable.

I chose this in March 2020 for the Covid rebound but now it's already beyond pre-pandemic levels and continues on a steep trajectory - I really cannot find a reason to sell.

Also nice to see the daily reports of Net Asset Value per share break £10

998.83p as at the 07 January 2021
1014.60p as at the 08 January 2021
Posted at 01/11/2013 10:12 by yikyak
BTW I think JPM will roll

BTW I think JPM will roll over its loan from UST in gold and continue suppressing gold in LBMA by keeping sales ongoing in in London in whoever interests it is at the moment- expressed by US Government. When it does, it will be the last dent in gold prices in that chart overlay AM did with French assignats. And it can be quite a dent as at the same time it will start to close its long gold positions in COMEX. When it will happen- the dates are set- we can trace a pattern from history:

I think JPM already did give in a bit during last debt ceiling negotiations by extending its debt with short extension for a few months since obviously first installment in 2008 happened in October 6th, next one on October 21st-You can see from GOFO drops- and both were immediately sold into market hitting the price as JPM and other London market makers went shorter in COMEX as well.

So its kind of clear that the day when 5 year term of first loan of gold from UST to JPM came- on October 6th, 2013. Second on October 22 2013 ( or may be it was one loan which JPM sold into London OTC market in parts) On October 1st, 2013, USG was shut down and opened only on October 17 th- because of uncertainty with JPM loan roll over- will JPM continue. What happened in between October 1st and 17th? or a bit before?

hxxp://PMorgan's Jamie Dimon meets with AG at US Justice Department

Quote:
JPMorgan Chase CEO Jamie Dimon met with Attorney General Eric Holder at the Department of Justice headquarters Thursday (September 26th, 2013 ) as the nation's biggest bank attempts to end multiple government investigations into its liability for selling shoddy mortgage securities.

Pressure on JPM was applied. Then threats went into action, JPM caved- for few months, possibly asking USG to find other solutions to its USD Gold problem. Jamie Dimon called Holder on Also the threat was left open ended.



Quote:
JPMorgan Chase and the Department of Justice have tentatively agreed to a $13 billion civil settlement to resolve several investigations into the bank's mortgage securities business, according to a U.S. official familiar with the negotiations.

How did the process go?

Quote:
For days, little happened. The government shutdown complicated the talks, as many of the civil prosecutors in Sacramento were furloughed.

But Mr. Dimon kept negotiating. He had the first of five calls with Mr. Holder in early October, the people briefed on the talks said. After the bank's board met last week (Oct 14th- Oct 17th) , Mr. Dimon again contacted Mr. Holder.

It was not until Friday (Oct 18th 2013 ) that JPMorgan backed down from its demand that the criminal case go away. Rather than resolve that case now, JPMorgan decided to let it play out. One person close to the bank noted that bank lawyers were skeptical it would actually produce charges. If criminal charges arise, it could mean additional fines and a deal that requires an independent monitor to keep an eye on the bank.

On a final call that Friday night - Mr. Cutler, Mr. West, Mr. Holder and Mr. Dimon all joined the call - the C.E.O. asked, "What will it take to get this done?"

Mr. Holder informed him that the government would not accept less than $13 billion. And with that, they had a tentative deal.

Mr. Holder and Mr. Dimon left Mr. Cutler and Mr. West to hash out the nuances.

Looking at Gold price chart at 2006, we see that the first hit took place on week May 15 , 2006. That was a loan date- but GOFO did not go down- why? JPM did not ask or did not get -5% commission to (contunue?) participate in gold supression and did not ask for 5% premium from USG as it did on 2008 after crisis. 2006 was not a crisis period- but Jimie Dimon appeared in JPM in 2006- with obviously new ideas about gold:

Quote:
In 2004, JPMorgan Chase merged with Chicago based Bank One Corp., bringing on board current chairman and CEO Jamie Dimon as president and COO and designating him as CEO William B. Harrison, Jr.'s successor. Dimon's pay was pegged at 90% of Harrison's. Dimon quickly made his influence felt by embarking on a cost-cutting strategy, and replaced former JPMorgan Chase executives in key positions with Bank One executives-many of whom were with Dimon at Citigroup. Dimon became CEO in January 2006 and Chairman in December 2006.

BTW it seems that JPM went into loans during Republican administration- and can not get out of them during Obamas administration. Obviously, JPM does not like the way Obama goverment acts. I mean, not only in business world.

So fast forward 5 years as the loan must get rolled over- we enter the period of debt ceiling negotiations of 2011.

Quote:
However, soon after the 2011 budget was passed, the debt ceiling set in February 2010 was reached. In a letter to Congress of April 4, 2011, Treasury Secretary Timothy Geithner explained that when the debt ceiling is reached, the US Treasury can declare a debt issuance suspension period and utilize "extraordinary measures" to acquire funds to meet federal obligations but which do not require the issue of new debt,[44] such as the sale of assets from the Civil Service Retirement and Disability Fund and the G Fund of the Thrift Savings Plan. These measures were implemented on May 16, 2011, when Geithner declared a "debt issuance suspension period". According to his letter to Congress, this period could "last until August 2, 2011, when the Department of the Treasury projects that the borrowing authority of the United States will be exhausted".[45] These methods have been used on several previous occasions in which federal debt neared its statutory limit.[46]

From May 15th 2011 till August 2nd 2011 when debt ceiling was raised.. in approximate calculation to have next in October 2013 when JPM had its 2008 loan to roll over- or not- with slight miscalculations by participants as in fact ceiling was reached in in early 2013 -and sequester set in to prolong USG existence . In March 2013 already Obama had to undertake extraordinary measures to fund USG. What happened to JPM at that time? Well senate released a 300 page report about London Whale case, implicating JPM in systematic fraud on March 15th, 2013...



Quote:
Democrat Carl Levin and Republican John McCain, who led a nine-month investigation into the trades, said JPMorgan (JPM, Fortune 500) manipulated results to mask the depth of the losses, actively shielding them from both regulators and investors.
The Senate report on JPMorgan's London Whale trades is a damning indictment of the bank's laissez-faire culture that led to nearly $6 billion in losses.

Bipartisan staff:)

Back to 2011, after May 15th when JPM had to roll its 2006 debt over- from gold prices its obvious that they did roll it over for sure in August 2nd 2011 after debt ceiling was raised and sold into market on week of August 22nd, 2011. However, before that there was uncertainty which led to higher gold prices, as again, USG ability to finance its operations and debt depended on JPM decision to roll over gold loan from US treasury- OR NOT....

So the USG acted-still mildly then:

hxxp://www.sec.gov/news/press/2011/2011-143.htm

Quote:
SEC Charges J. P. Morgan Securities with Fraudulent Bidding Practices Involving Investment of Municipal Bond Proceeds
J.P. Morgan to Pay $228 Million to Settle Charges By SEC, Others
FOR IMMEDIATE RELEASE
2011-143

Washington, D.C., July 7, 2011 – The Securities and Exchange Commission today charged J.P. Morgan Securities LLC (JPMS) with fraudulently rigging at least 93 municipal bond reinvestment transactions in 31 states, generating millions of dollars in ill-gotten gains.

Have to finish now but what I wanted to say is that debt ceiling dates are directly TIED to JPM rollover decision dates and the decision to raise it or not depends on JPM decision to roll over or not. Follow the gold...

By looking at debt ceiling and budget negotiation deadlines you can easily figure that out- as, IF JPM does not roll over, then debt ceiling can not be raised as its raising that will immediately kill the USD by enormous spike in gold price- other commodities will follow. USD sits on very unstable base which is close to its abilities.

If its not raised then immediate deflation follows. USD will spike, UST yields as well, depression sets in ASAP. Obama and FED must perform actions around congress etc. Well its possible of course.

So they have to know JPM actions and/or any other possibilities before they decide to raise the limit or not. Here are the dates:

Quote:
On October 16, the Senate passed the Continuing Appropriations Act, 2014, a continuing resolution, to fund the government until January 15, 2014, and suspending the debt ceiling until February 7, 2014, thus ending both the United States federal government shutdown of 2013 and the United States debt-ceiling crisis of 2013.

It set up a House-Senate budget conference to negotiate a long-term spending agreement, and strengthened income verification for subsidies under the Patient Protection and Affordable Care Act. The Senate vote was 81-18 in favor, with 1 member absent due to illness. The House passed the bill unamended later that day, by a vote of 285-144, with 3 members absent due to illness. The President signed the bill early the next morning on October 17. Under the resolution, the debt ceiling debate and partial government shutdown were postponed, with federal workers returning to work on October 17.[26]

If JPM does not cave in till end of December get ready for government shutdown in January. If it does not cave in till February 7, then a lot depends on the language of October 16th bills. Whatever , the pace accelerates and the balance gets finer.

What they are doing now (till January) is trying to find a solution that would be good for both JPM and USG with pressure coming from both sides. JPM holds USD in stranglehold, probably is asking that the US gold is not lent to them but sold to them. USG starts to terrorize JPM with criminal litigation against its top executives, may be the Board. That is what is on surface.

The Board of JPM:

hxxp://www.jpmorganchase.com/corporate/About-JPMC/board-of-directors.htm

The biggest owners of JPM stock:



Stewart Murray though has been LBMA Chief Executive since..1999. He is quitting ..in Q4 2013:


Quote:
Stewart Murray will retire as chief executive of the London Bullion Market Association in the fourth quarter after having held the position for 14 years, the organization announces. LBMA Chairman David Gornall lauds Murray's development of the organization and says the outgoing CEO will continue in a capacity as part-time consultant, especially in relation to the LBMA Good Delivery system. The LBMA board will launch a process of finding a successor, Gornall adds.

Something is going on-Fannie Mae is USG arm-|October 31st 2013:

hxxp://www.washingtonpost.com/business/economy/fannie-mae-sues-global-banks-over-libor-scandal/2013/10/31/6f9405be-4261-11e3-8b74-d89d714ca4dd_story.html
Posted at 15/8/2012 16:47 by yikyak
CTRL->C / CTRL->P
Posted at 07/9/2011 21:21 by yikyak
Having read the research report and doing some further DD on Metanor, I am impressed with the fact there seems to be essentially zero political risk, zero need for more capital ( it looks like they have ~$15M in the bank now), zero production risk (2009 – 2010 produced ~ 40,000 oz with 95% recovery), zones at underground Bachelor mine that should give 10 year mine life (at 60,000 ounces gold a year), no exploration risk with huge blue sky at their Barry property which contains dozens of anomalies, a current 43-101 of aprx 789,000 oz gold inferred and indicated. SGS Geostat says Barry has the potential of gold deposits similar to Osisko's Malartic and Detour Gold's Detour deposit (Multi million oz deposits!!!). The mill and infrastructure alone today would cost considerably more than the current market cap of $80M (in fact roughly
.90 per share seems right !!! ) 60,000 oz production / year will generate over $40M a year !!! ~
.40 seems like a gift !!!
Posted at 22/8/2011 20:22 by yikyak
Warrant Symbol - SSL.WT.A
Number Trading - 19,692,025
Expiration Date - October 19, 2015
Cusip - 800132 13 6
Exercise Price - $1.00 (U.S.)

Warrant Symbol - SSL.WT
Number Trading - 58,454,790
Expiration Date - April 23, 2014
Cusip - 800132 12 8
Exercise Price - $0.60 (U.S)
Warrants called to trade news
Genesis Emerging Markets... share price data is direct from the London Stock Exchange

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