Currencies  |  January 29, 2013 13:46:20

Sharks Sharks dig Last Wednesday, who managed the U.S. equity markets go up in a situation in which Apple attacked by more than 10%, yesterday failed to increase Apple's 2.26% quash the major U.S. indices, have concluded that the green numbers: Dow Jones -0.10%, SP500 -0.18%, Nasdaq Composite +0.15%. In the introduction the month all three indexes traded higher by better results on orders of long-term consumption of goods as well as the results of company Caterpillar (+1,96%), no long neudržali profits. But anyway benchmark SP500 could remain above the level of 1500 points. Hours psychological level has been tested on U.S. dlhopisoch.Yields on 10-year U.S. federal dlhopisoch yesterday rose above 2%, well above this level could not close the trade.

Fight for Herbalife

Duel between the Apple býkmi is currently happening in only for Apple but when the company Herbalife. This company is currently the subject thus far about the biggest conflict between the managers of hedge funds. On one side stands Daniel Loeb, manager of hedge fund Third Point LLC, which manages 8.8 billion USD. He thinks Herbalife company that's committed to sale is dietary supplements, is a company with the perspective and therefore in most bought 8.2% share valued at 350 million USD. On the other side is William Ackman and his firm Pershing Square Capital Management, which has sold short shares of the company up in a volume of 1 billion USD.Ackman, she thinks that the company Herbalife, which is on the market for 32 years, is illegal pyramid scheme and thus the value of its shares is zero. He does not think that the company should be declared bankrupt, but considers it a model of entrepreneurship in non-conformity with the law and expects regulators finally close the company.

Pyramid schemes or action is good 100 USD?

Ackman was by the presentation of his opinion quite radical and 20th December presented the 345 Verge presentation that has an tried to prove that Herbalife is a pyramid scheme, since the majority of the company's income comes from the sale of goods to distributors and not from the sale of goods to end users. Most of the vendors basically the Herbalife products nezarába.

Conversely Loeb Herbalife considered for long-term sustainable society but, also the team is known, that the love shown in the financial televíziách. So the battle of two investors became current about Favourites duel between the managers of hedge funds.

Ichan no slouch

The duel has joined yet known if other investor Carl Ichan, who has Ackmana in the stomach for several years. Ichan has joined Loeb and resources, according to loved ones this mogul, whose net assets represent about 14 billion dollars, and he also accumulated shares of Herbalife. Both now waiting for a huge short squeeze Herbalife in Action, since conclusion of huge Ackmanovej position has the potential to dislodge an action significantly upward.Who representations between Ackmanom and Loebom were relatively neutral, Ichan in almost polhodinovom interview with Ackmanom, who was in odvysielaný CNBC television gave mladšiemu managers clearly feel that he is in the stomach. For the expression of all insist: I appreciate Bill, that thou hast called great investors. Sorry, I can not say the same thing about you.

In favor Ackmana rd day and that the business model is still in May inquired manager David Einhorn, no one until now did not publish ANY position in relation to shares of Herbalife. Shares but then observed a decline of almost 50%. On the contrary, for the Herbalife stood Bronte Capital hedge fund that has bought shares in the company and thinks Ackman whole thing with Herbalife badly understood him and regret that such a senseless vsádza client monies.

Evil errand FTC

But yesterday on Herbalife got Bulls proper shock. The federal trade commission FTC yesterday closed the company Fortune Hi-Tech Marketing with the explanation that this is a pyramid scheme. Management did not talk anything about Herbalife, no chief analytics manager for that company, Simon Davies, Herbalife has worked for 11 years at the head of internal audit poste. Herbalife shares yesterday forfeited by 8.19%.

Sharks Sharks dig

Sharks and Shark dig, but the truth will ultimately have only one side. It will be extremely interesting to keep track of who it will be. In the previous spore company of JC Penney, where Loeb had a short position and vice versa Ackman would expect a better future for the company, Loeb wins.

Iceland wins in the battle for deposits

While this dispute will be solved long time yet, yesterday unexpectedly prolonged dispute was resolved headed toward Iceland considered that the landscape not behave similarly to depositors from countries other than the private depositors dome to collapse in 2008. The European Free Trade Association EFTA decided that Iceland had the right to withhold contributions to British and Dutch depositors. The agreements, which were signed with Iceland, namely the right not contain clauses rescue banks that have been added to in 2009. So in a situation in Iceland was a huge financial crisis, authorized withhold foreign depositors. That does not mean that im not pay anything. Island gradually liquidates assets zatvorených banks and thus far returned about 90% of deposits.

View on today

The euro is still moving below the 1.3485 level and is awaiting further impetus to the movement. Italian auction six-month Treasury bills, which ended with the lowest yield since 2010, a more market index nezahýbala and home prices according to Case-Shiller also would not have pronounced effect on the market. It will be the main data consumer confidence by the Conference Board, which is now a top fundamentom. While the technical picture remains The growth, but still consider the proximity of strong resistances for engaging in short positions. Prelomenia strong resistances is always in the euro require some time and, therefore, we think that even now by defeating maxima year 2012 might take a while. Moreover, tomorrow awaits GDP data, ADP and also behold FOMC meeting, where it will be carefully monitored the voting ratio especially after you have changed the members of the FOMC.Currently produces the steamed Konsolidacni flag, which would by virtue of its preceding trend should have been kinked up, no failure pattern may also be an interesting opportunity. Today we prefer Bear view.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker

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