Royal Bank Of Scotland Share Discussion Threads

[ramco] 14/5/2013 14:07

GMO's 7-year asset allocation model for U.S. stocks (VTI) is now predicting negative returns, says James Montier, presenting at the London Value Conference, and telling the audience GMO is now 50% in cash. Liking Europe (VGK, EZU, FEZ) a year ago, the big run has GMO less excited now. The best value could be emerging markets (EEM, DEM, VWO), but China's property bubble has GMO allocating less to EM than its models suggest.

[ramco] 14/5/2013 14:04

On the hour: S&P +0.06%. 10-yr +0.12%. Euro -0.01% vs. dollar. Crude -0.43% to $94.77. Gold -0.76% to $1423.35.

[ramco] 14/5/2013 13:51

Saying it has become uneasy with Barrick Gold's (ABX) approach to disposing of mining waste as well as its handling of community grievances, government retirement fund New Zealand Superannuation sells its entire stake in the miner, worth 1.9M New Zealand dollars (US$1.6M). The fund says ABX's activities are inconsistent with U.N. standards on human rights and the environment. Shares -1.3% premarket.

[ramco] 14/5/2013 13:46

More Tepper: Turning to individual ideas, he says Citigroup (C) has become one of his biggest positions. On Apple (AAPL): If the company doesn't have something "revolutionary" coming, it better do something "evolutionary" - bigger screen, cheap iPhone. If we don't see anything by September, then it's "Houston we got a problem," and Tepper hopes he's quicker on the sell button than everybody else.

Add: LSK...you keep watching....;

[ramco] 14/5/2013 13:45

More from Tepper: "We're going to get this hyper-drive market," unless the Fed starts tapering its purchases, he says (referencing 1999), adding the June meeting wouldn't be a bad time to get started. He pulls out this chart from a recent FRBNY report, showing stocks remain cheap - the equity premium to bonds is as high as it's been in the last 50 years.

The chart Tepper just showed on CNBC is attached here: pic.twitter.com/s5lemkqagX

[ramco] 14/5/2013 13:42

Tepper stays bullish. Confounding gnomes who whispered the hedge fund honcho was turning cautious on stocks, David Tepper tells the CNBC crew the wave of liquidity that turned him bullish in the first place is getting even bigger. Fed tapering? So what, he says. The U.S. budget deficit over the next 6 months will only be $100B, while the Fed is scheduled to buy about $500B. That's $400B coming out of the bond market and going to investors who can buy more fixed-income, more real estate, more stocks. SPY erases losses and gets back to flat premarket.

[ramco] 14/5/2013 13:40

NFIB Small Business Optimism Index: +2.6 pts. to 92.1, vs. consensus of 90.5, 89.5 prior.

[ramco] 14/5/2013 13:40

China's Q2 GDP growth forecast is cut to 7.8% from 8% at JPMorgan, which also reduces its full-year estimate to 7.6% from 7.8%. There's no indication the government's policy stance will be shifted quickly to support near-term growth, says the bank. Slash rates? Can't do it, says a state economist, thanks to an already abundant pool of global liquidity. Shanghai (FXI, CAF) fell 1.1% overnight.

[ramco] 14/5/2013 13:39

ICSC Retail Store Sales: -2% W/W, vs. -1% last week. +1.2% Y/Y vs. +2.4% last week. Abnormal weather pulled down the sales to the lowest rate since mid-March and slower recovery points to a week month.

[ramco] 14/5/2013 13:38

April Import/Export Prices: Import prices -0.5% vs. consensus of -0.5% and -0.5% prior. Export prices were -0.7% vs. consensus of -0.4% and -0.1% prior (revised).

[gcom2] 14/5/2013 13:36

its the way it's always been

[dope007] 14/5/2013 13:00

Yup, here comes the free money, ignoring another big fall in Jap machinary tool orders. Also ignoring the increacing mess in Italy, Spain, Portugal, Greece, Ireland, and of course Japan were QE is having all the wrong effects for them.

[ramco] 14/5/2013 10:22

Lol maxk.... btw no POMO yesterday, today $3bn....;

[gcom2] 14/5/2013 09:33

yes, its morning again

[jazza] 14/5/2013 07:56

City sources predict the FTSE 100 will open up 17 points from yesterday's close of 6,632, boosted by better-than-expected US retail sales and the first positive reading on the UK RICS house price balance since June three years ago.

[speedy] 14/5/2013 07:52

"The notion that the market would fail to digest three years of non-fraudulent submission rates and other more detailed financial information, and would instead leave intact artificial inflation as a result of fraudulent submission rates during the financial crisis is implausible," Scheindlin wrote."

[speedy] 14/5/2013 07:40

Hi leeds - re Co-op Perpetuals
Yes - I have thought about these. In the short term, it seems likely that the
Co-op will decide to continue in banking, and hence the dividends may continue.
There are risks, however, and imho these risks are not yet fully priced in.
In the longer term, the Co-op may decide that their business model might be
better off without their bank, hence the perpetuals carry that risk.
For comparison, LLPC or LLPD probably offer a good night's sleep, though the
upside is perhaps less ... ;-)

I'm currently reducing my exposure to fixed interest risk, as I watch
developments over the next six months.

[begorrah88] 14/5/2013 07:30

Dope - you've turned into that old lady off 'Up Pompeii' that turned up every so often bewailing about 'the ides of March'.

[dope007] 14/5/2013 07:25

And then you move on to the problems coming out of Australia overnight

[jwe] 14/5/2013 07:22

Those figures are really quite surprising in some areas,in particular the apparent lack of support for `the project` in France.For example there are less people in France who feel the EU has strengthened their economy or are in general support of it than in the UK.Of course you would probably expect support to have fallen off a cliff in Spain
I wonder how long it will take before it all starts to show up seriously in the ballot box .It was always going to be the problem with the`one size fits all`mentality

[dope007] 14/5/2013 07:17

And whilst they continue the stock market ramp Portugese debt gets that sinking feeling again...