Portfolio Performance: +18.4% YTD through June 2008

Heavy weighting in commodities and precious metals powered the portfolio to a winning June and a 18.4% gain for the 1st half of 2008, compared to losses of -12.8% for the S&P 500 and -14.4% for the DJIA. My non-commodity positions (foreign telcos, GE, ACAS) have suffered along with the broader market but those are [...]


Upcoming Blog Maintenance

As a result of the hacking last night, some technical work will have to be done on the site.  You may notice a few strange things, such as the blog being offline or seemingly rolled back to last week.  Please bear with me.  I expect that everything will be back to normal by the beginning [...]

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Minefinders (MFN): Racing Against the Clock to Production

Racing is a fairly apt description but more on that below. First, an update from Q1 2008 (all figures US$ unless noted): The company burned $7M during the course of operations in Q1 2008, more than doubling last year’s cash burn. Because MFN is not yet in production, looking at the total cash burn number [...]

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Will We See the PPT By the Close?

I don’t know if the Plunge Protection Team really exists but if there is, I guess today would be the day.  The Dow has fallen below its March lows and supposedly, the powers-that-be will want to maintain some sort of bottom or other to maintain confidence in the markets. I wholeheartedly acknowledge that financial markets [...]

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Back Online

The blog was hacked tonight and I spent a couple of hours to get it back online.  Seems like we’re back up and running.  Feel free to email me if you notice anything fishy while browsing the site.

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How Much Can You Know? What Pabrai Didn’t Know Hurt Him Badly

A couple of interesting Bloomberg links for readers this morning. First, the recommended Open Exchange program (weekday mornings 8am PST) interviewed one of my favorite money managers, Mohnish Pabrai. I caught most of the program but missed the beginning. I will probably go back and listen to it today as I am curious if they [...]