2019 movies to geek out over Luke Perry was a man for a millennial generation (even if he only scraped in by virtue of the fact that he was a 20-something actor playing a high school heartthrob). He was the pop culture icon of an era. Entire schoolyard lunchtimes lived or died based on what had happened on TV the night before between Dylan and his latest flame. When it came to fictional couples, his was a face that launched a thousand ‘ships.And he stayed a heartthrob even as he grew older and moved away from 90210. A whole new generation found him when, as a father himself in real life, he starred as Archie’s father Fred Andrews in Riverdale. People were tuning in to see Luke Perry on primetime TV and they were drooling over his son instead? The younger me would have never believed it. (And Molly Ringwald, Perry’s onscreen wife in Riverdale? Wasn’t she literally just in The Breakfast Club, like, two years ago? When did she get old enough to have kids?)But time is ruthless. We’re getting old, and our heroes are getting old too. If Luke Perry can go, then none of our heroes are safe. One day, I’ll tell my kids about the loss of those ’90s heartthrobs and they’ll roll their eyes before turning back to their HoloPhones — certain that no stars they love, no Marvel heroes or geek culture icons of their generation will ever grow old. But they’ll have their Luke Perry moment. You always get a glimpse of mortality at times like these when you realise that you can’t go home again. But in my case, I’ll never be able to go back to the Peach Pit. Luke Perry, still rocking the sly smile ’til the end. Dominik Bindl / Getty Images There’s nothing more sobering than realising your heroes are getting old. And there’s nothing more sobering than realising you are too. I remember when a wizened Christopher Lee appeared onscreen as Saruman in The Lord of the Rings — it was a near biblical moment for my Dad. Here was the iconic villain from the films Dad had grown up with, from Dracula to The Man with the Golden Gun, booming on screen as Tolkien’s great wizarding villain. It was a stroke of genius casting that resonated with a generation of moviegoers. When Lee died in 2015, the moment was felt by a generation too. But for those of us who came to The Lord of the Rings as nerdy teenagers, this was just another icon from a bygone time. A sad loss, but an actor from another era dying after a life well lived. 16 Photos Super-expensive TVs worth drooling over But that age gap doesn’t last forever. And you know you’ve truly grown up when you start losing your heroes like they were friends. On Monday, the world mourned the death of pop culture icon Luke Perry who died a week after suffering a massive stroke. This wasn’t a silver screen starlet or an old war-era crooner. This wasn’t your grandma having a glass of sherry while she put on Sinatra’s old records whilst remembering the Rat Pack days. This was Luke Perry. Dylan flippin’ McKay from 90210. The boy you were absolutely going to grow up and marry if only you could get a plane ticket to Beverly Hills and get Brenda Walsh out of the way. The swoonboat you stayed up to watch on TV with your older sister (who was also planning her wedding to Dylan in the idyllic surrounds of the Peach Pit diner). And he didn’t die in a car crash, like that erstwhile white t-shirted dreamboat, James Dean. The James Dean of the ’90s died of a stroke aged 52. Comments Share your voice TV and Movies 2 Tags 77 Photos
Classified documents that the heads of four US intelligence agencies presented last week to president-elect Donald Trump included claims that Russian intelligence operatives have compromising information about him, two US officials said Tuesday evening.They told Reuters the claims, which one called “unsubstantiated,” were contained in a two-page memo appended to a report on Russian interference in the 2016 election that US intelligence officials presented to Trump and president Barack Obama last week.Trump responded on Tuesday evening in a tweet calling the reports: “FAKE NEWS – A TOTAL POLITICAL WITCH HUNT!” The Trump transition team did not immediately respond to a request for comment. One of the officials, both of whom requested anonymity to discuss classified matters, said the Federal Bureau of Investigation and other US agencies are continuing to investigate the credibility and accuracy of the claims.They are included in opposition research reports made available last year to Democrats and US officials by a former British intelligence official, most of whose past work US officials consider credible.The official said investigators so far have been unable to confirm the material about Trump financial and personal entanglements with Russian businessmen and others whom US intelligence analysts have concluded are Russian intelligence officers or working on behalf of Russian intelligence. Some material in the reports produced by the former British intelligence officer has proved to be erroneous, the official said.The FBI declined comment.SURFACED LAST YEARThe charges that Russia attempted to compromise New York real estate businessman Trump were presented to the FBI and other US government officials last summer and have been circulating for months.The FBI initially took the material seriously, said the sources, who spoke on condition of anonymity because of the sensitivity of the issue, which was first reported by CNN.However, the FBI failed to act on the material, and the former British intelligence officer broke off contact about three weeks before the November election, they said.The warning of information about Russia’s compromising claims follows growing US intelligence and law enforcement concerns about what Director of National Intelligence James Clapper has called “multifaceted” Russian influence and espionage operations in Europe and the United States.In addition to hacking computer networks and spreading propaganda and fake news, it includes efforts to cultivate business and political leaders and find compromising personal, financial and other information on persons of interest, US intelligence officials said.The classified briefings last week were presented to Obama and Trump by Clapper, FBI director James Comey, Central Intelligence Agency director John Brennan and National Security Agency director Mike Rogers.US intelligence chiefs included a classified summary of the material to make Trump aware that it is circulating among intelligence agencies, senior members of Congress, government officials and others, one of the officials said.An unclassified intelligence report released on Friday concluded that Russian president Vladimir Putin ordered an effort to help Trump’s electoral chances by discrediting Democrat Hillary Clinton in the 2016 presidential campaign.The report said US intelligence agencies have concluded that as part of the effort Russia’s military intelligence agency, the GRU, used intermediaries such as WikiLeaks and others to release emails it hacked from the Democratic National Committee and top Democrats.
Listen To embed this piece of audio in your site, please use this code: Al OrtizHPD Chief Art Acevedo is creating a new unit of 13 detectives to work the night shift investigating aggravated assaults in Houston.Chief Art Acevedo is trying to fill a void in the Houston Police Department to improve the department’s response to crimes happening at a specific time of the day.Acevedo is creating a new unit of 13 detectives to work the night shift investigating aggravated assaults.They will assess the crime scenes and gather evidence.“The first forty eight (hours) of any investigation and the first few hours are critical. They’re key that we hit the ground running, so we can try to identify a suspect,” Acevedo says to explain why HPD needs the new unit.Currently, detectives start working on these investigations when their shift starts, which, in some cases, can be several hours after the crime has originally occurred.Asked about why a city the size of Houston didn’t already have overnight detectives, Acevedo says that HPD doesn’t “look backward, we look forward.”Ray Hunt, president of the Houston Police Officers’ Union (HPOU), supports the creation of the new unit of detectives as long as its members are working the night shift voluntarily.“We do not support it if you are making people disrupt their lives to put them on this shift, we’d rather use a rotating shift. But, whenever you have people who are volunteering for it, we fully support it,” Hunt notes and adds that he thinks HPD will be able to find enough detectives who will volunteer.Acevedo says the new unit should be operational in about two weeks. 00:00 /01:14 X Share
Popular on Variety In addition to its Viveport Infinity service, HTC is also bringing its a la carte Viveport VR store to headsets supported by Windows Mixed Reality. These include headsets manufactured by Acer, HP, Asus, Dell, Lenovo and Samsung.With this latest addition Viveport Infinity is now available on all major PC-powered headsets, as well as mobile VR devices based on HTC’s own Vive Wave platform. However, the Netflix-like subscription service isn’t running on Facebook’s Oculus Quest VR headset. ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15 HTC’s Viveport Infinity VR subscription service will be coming to Windows Mixed Reality headsets next month. VR headsets powered by Microsoft’s platform will have access to the service starting June 5, the company announced Wednesday.Viveport Infinity offers subscribers access to an unlimited number of VR games and apps for a monthly fee of $12.99. The service, which officially launched last month, currently has some 600 titles in its catalog. 200 of these will work on Windows Mixed reality headsets at launch, according to HTC.“Viveport Infinity offers all members unparalleled value and choice when it comes to experiencing and discovering VR content,” said Viveport president Rikard Steiber in a statement.“We’re excited our users now have an additional opportunity to discover some of the best content VR has to offer at an accessible price through Viveport Infinity,” added Microsoft’s Mixed Reality director Dan Newell.
The theme of this year’s Festival was Vertical Gardens.As Delhi witnessed a pleasant days, visitors in huge numbers came to see the unique floras on display. More than 5000 various floras are on display at this year’s festival. The highlight of this year’s Festival is the specially designed Vertical Gardens of size 20 ft. X 30 ft.This year’s theme Vertical Gardens encourages the use of vertical space for gardens indoors and outdoors. It is enlightening, garden enthusiasts about planting on roofs, walls and creating structures within small spaces as green covers. Also Read – ‘Playing Jojo was emotionally exhausting’Various competitions were organized in more than 30 odd categories and an on the spot painting competition for children’s was also held today.Garden Tourism Festival is the only Festival in India where people finds plethora of floras on display. There are Rudraksh plants all the way from Nepal for sale, Orchids from Sikkim, Bonsai plants, Cacti etc. There were alos stalls where visitors could buy plants and other equipments.Apart from providing visitors a glimpse into some of the most exquisite flowers, Delhi Tourism has also created an Adventure Park at the venue to indulge visitors in outdoor activities such as Rappling, Flying Fox, Burma Bridge, Zorbing Ball etc. This zone is witnessing tremendous response from adventure enthusiasts.
Register Now » March 20, 2008 Opinions expressed by Entrepreneur contributors are their own. 5 min read By Mike BohlmannStrategic IT is the use of information technology to play a vital role in an organization’s business plan by improving efficiency, creating opportunities, and interacting with customers and vendors. Whereas operational IT is the use of information technology to support the functions of the business with such things as accounting software, e-mail systems, and electronic file storage.How do smaller businesses choose between strategic and operational IT? I addressed this issue in an earlier column critiquing Nicholas Carr’s “IT Doesn’t Matter.” But before smaller organizations can pursue potential projects with an operational or strategic IT perspective, they often need to look outside for IT resources if they don’t have them in-house. But where do you get IT expertise?In smaller organizations that use IT as an operational tool, there will be times that new IT capabilities need to be implemented to stay in the game. For example, just about every business has at least a basic Web site with information about the company, how to contact it, and the products or services it offers. An organization with an operational IT approach might talk to people they know who are IT savvy to discover what they needed to do and how to get it done as quickly and cheaply as possible. By contrast, another organization might look beyond operational IT capacities to consider the strategic potential of a Web site and recognize that it needs more than a mere electronic brochure.Recently, a friend of mine who works at a small print publisher faced exactly this issue. The publisher needed to overhaul its Web site, but the internal staff didn’t have Web skills beyond basic HTML and image editing, so they knew they needed to hire a person or company to do the work. But they were unsure how to do that, so I offered act as an independent IT consultant on the project.For organizations without IT management skills, independent IT consultants can be valuable allies who help identify needs, find potential service providers, advise on provider selection, and help plan and manage the project. Smaller businesses without skilled IT management can bring this expertise in-house temporarily for specific projects by hiring independent consultants, and that’s the role I played for my friend’s company.Hiring a consultant is an investment. Moreover, it’s tempting to cut costs by talking directly to service providers without input from a consultant. After all, quality service providers will gather requirements, plan the project, and manage it, so why spend more money to have a consultant do the same thing? Though a service provider and a consultant may indeed duplicate roles, they do so with distinctly different perspectives — the consultant advocates for the best interests of the client. A service provider will act in its own interest, and that may result in higher project costs or solutions that don’t meet the project objectives or both. An independent consultant plays a vital watchdog role to ensure that the service provider delivers what the client needs, not what the provider wants to deliver.An organization shopping for IT services needs to have an objective insider who’s working for it and its interests and can also identify the vendors that do not have good practices. Relying on service providers can be risky as they will have their own vision of how things should be, what add-ons they can sell to the customer, and how best to go about completing the project; and, that’s after the challenge of choosing which company to use for the project.Despite the obvious benefits of retaining an independent IT consultant, finding one who’s qualified isn’t easy. The best advice I can offer is to rely on your network of contacts. Most people know at least someone who works in IT who either has the right IT management skills or knows someone else who does. If you ask around enough, you’ll find someone who’s able and willing to help you. You’re looking for an IT leader and not for the best PHP programmer your network can find. With that in mind, here are four traits you should try to find in your independent IT consultant:Business savvyTranslating business needs into technical requirementsVendor assessment capabilitiesProject management skills (if you don’t want to rely on the service provider)I include project management as an optional skill because most vendors have worked with non-IT people as their main contact at a customer and have their own project mechanisms in place. Being business savvy and being able to translate business needs into technical needs are critical to making strategic, rather than purely operational, IT decisions. A business-savvy IT person understands issues like return on investment, cost management, revenue generation, and marketing. Having the ability to identify potential service providers and evaluate their ability to successfully complete the project is not to be looked over either. By getting someone with these skills to help out, an organization can more safely move forward on an IT project when IT is not a strategic component of the organization.So what happened with my friend’s printing company? It decided to use a vendor that someone in the company was familiar with rather that considering multiple vendors. In the end, it went over budget, over schedule, and didn’t get some of the features it wanted.Mike Bohlmann has more than 10 years of experience as a Web developer and an IT manager. He is an IT manager at the University of Illinois, where he is in the process of completing work toward his master’s degree. His research is focused on IT management, leadership, and services. Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box.
Arizona Governor Janet Napolitano visited the Expo and shared her thoughts on the importance of renewable and sustainable energy in a lively, positive Q&A session. [Photo & Text: sa] Part of the Arcosanti booth crew. [from left around the table] Workshopper Yoshimi Kato, Construction and Utilities manager Scott Riley, Archive intern Yuki Yanagimoto, Construction crew leader Brandon Scott, workshoppers Craig Moore and Charlie Provine, construction staff Jacob Schwartz and construction volunteer Mika Kawai. [Photo & Text: sa] August 12, 2004The annual The annual The Expo offered many examples of solar and wind power, thoughtful approaches to lots of different aspects of sustainability. [left] This solar powered shuttle was built for the 2000 Olympic in Sydney, Australia. [right] San Francisco Peaks in the background. [Photo & Text: sa]
Netflix’s international streaming subscriber base will reach 140 million by 2025, according to a research note by L&F Capital Management.The US-based boutique equity investment group claims that by 2025 Netflix’s international subscriber count will include 55 million customers from Europe and almost 45 million from Asia.“In short, we think the international total addressable market (TAM) is just over 750 million households, and believe NFLX can net 140 million international streaming subs by 2025,” said L&F in a note published on finance site Seeking Alpha.In Europe the research identifies Germany, France, the UK and Italy as the biggest potential markets – where it claims Netflix has seen “mixed success thus far” – and says Europe’s addressable market by 2025 will be 225 million households.Asia, excluding China, will hold even more opportunity with an estimated addressable market of some 290 million homes. India and Japan, where Netflix has already announced original content plans, are the biggest addressable markets in this region, according to L&F.In the Americas, the research estimates that Netflix can target a total market of roughly 120 million households, with Brazil and Mexico the biggest potential markets.In Africa the market opportunity will be roughly 85 million homes and ”given urbanisation and population size, we think the Africa market is bigger than both the Middle East and Oceania,” said L&F.In its first quarter earnings announcement Netflix reported that it had 34.53 million total international streaming members, and 46.97 million in the US.Netflix said it expected to add 2.5 million members in the second quarter of 2016 – 2.0 million internationally and 500,000 in the US.
In This Issue. * Dollar’s all-out assault is stopped.. * Euro rebounds on cease fire news. * Aussie 2nd QTR GDP beats expectations! * China to spend some reserves on shipping. And Now. Today’s A Pfennig For Your Thoughts. Ukraine / Russia Agree To Cease Fire. Maybe. Good Day! . And a Wonderful Wednesday to you! Man, I had better get my eye checked! I think I’m beginning to read stuff that’s not the way it’s presented! Here’s the skinny: I woke up from a quick and not long enough nap to answer the door yesterday afternoon, and after welcoming the ATT guy into the house, I brought up my work email on my mobile device, and there was an email from our office managing guru, Danielle, telling me about elevator work that would take place around the time I arrive in the morning. “Great! I said, for I had some blood work that I needed to get done tomorrow, so I’ll just stay home, write and then go get the blood work done, rather than get all dialed in at work to leave right away. Unfortunately, the email said Sept 4.. not Sept 3. UGH! So, I’m writing from home today, when I didn’t have to! The elevator work is tomorrow! What a dolt I am sometimes! Front and Center this morning, there was word earlier that Russia and Ukraine had agreed to a cease-fire. But then the “official word” from the Kremlin came out, and said that the Russian and Ukrainian Presidents had only discussed steps toward peace. There’s been no further discussion on what that meant, or maybe it was just a matter of semantics, but it sounds to me that the Kremlin wants their say before any “agreement” is made. The Currency traders are taking this “non-agreement in stone” as a good sign, and the euro has rallied a little bit. In fact the dollar’s all-out assault on the currencies and metals yesterday, (Gold lost $24) has backed off a bit this morning, albeit the moves are small. I forgot to mention yesterday that there is a bevy of Central Bank meetings this week, and that all gets started today with the Bank of Canada (BOC) meeting. I don’t expect any surprises from the BOC today, and their neutral bias should remain in place. The recent data from Canada, as chronicled here in the Pfennig, has been upbeat, but I doubt it’s enough. yet that is. Oh, and before I forget again. which, I might add, seems to be happening to me more and more these days, the other central bank meetings this week include the European Central Bank (ECB), The Bank of England (BOE), and the Bank of Japan (BOJ). And we can’t take our eye off the ball with regards to the Jobs Jamboree, which will take place on Friday this week! So, an event-full week, but in the end it will be just a bunch of boondoggles and cooked booked. The Biggest mover overnight, is the Aussie dollar (A$). Australia printed their 2nd QTR GDP last night, and it showed a solid number of .5% for the QTR and 3.1% year on year. That beat the expectations, and the A$ has reversed yesterday’s selling on the news. I did see “something” as a doctor might say to a patient, that we’ll have to keep our eye on. The Personal Income component of the GDP report showed a -.6% decline in disposable income. That’s not a good sign for the 3rd QTR. Just like I told you yesterday about how the Personal Income decline in the U.S. was not good for 3rd QTR GDP, the same will hold true for Australia, unless.. this was just a blip, and the next two months turn around, which is why I say we’ll have to keep our eye on this. But for right here ,right now, the A$ is in rally mode, so don’t stop it now, it’s on a roll! Remember when the Germans bombed Pearl Harbor? The Germans bombed Pearl Harbor? Don’t Stop him he’s on a roll. HAHAHAHAHA! One of the funniest scenes ever in a movie. On a side bar. A few years ago, used that line about the Germans bombing Pearl Harbor, and I actually had a few readers send me notes telling be that it was Not the Germans, but the Japanese that bombed Pearl Harbor. That made the whole line even more funny! Of course the actual bombing is not, was not funny. I’m strictly talking about the line in the Animal House movie! Back to Australia for a minute. Reserve Bank of Australia (RBA) Gov. Stevens, made some comments after the 2nd QTR GDP report printed last night, and in his speech, he made a tactical error, and sound hawkish. I’m certain that he didn’t mean to do this, but h did, and the A$ was the beneficiary. I wouldn’t be surprised to see him come out with a retraction. There’s news this morning from two of my fave currencies / countries. Sweden and Norway, and none of the news is good. In Sweden, the markets are calling for the Riksbank to implement unconventional methods to reach their target inflation rate. Read, Quantitative Easing / QE. I shake my head in disgust, for this Central Bank USED to be prudent and kept their eyes on price stability. And in Norway, the latest data from Statistics Norway, their latest survey of Oil producers and explorers suggest an 18% drop in investments next year. So far in 2014, they’ve seen a 14% decline in investments. So a further drag on the Norwegian economy next year, folks. Of course this is where you reach back in the memory bank and recall that Chuck told you of the huge cash reserves from Oil that Norway is holding, and you say, “But, Chuck, doesn’t the Norwegian Gov’t have a 140.9 Billion krone revenue pile that they could use to plug deficits and support growth during this slowdown?” And I would say, yes! You, dear reader, get a Gold Star! Both the Eurozone and he U.K. printed their latest Services PMI’s this morning, and it was like two ships passing in the night. the U.K. Services industry printed above expectations, while the Eurozone’s print was slightly weaker. But still above 50 (actually at 52.5) But this morning is all about the cease-fire, no cease-fire between Ukraine and Russia. And any sign that the sanctions could be removed would be HUGE for the Eurozone! Gold has found a bid this morning, albeit a small bid, after losing some major ground yesterday. So, Gold loses $24 on a day when the U.S. announces air strikes in Somalia, and Russian President, Putin rates his saber, and then turns around and gains a couple of shekels when a cease-fire is announced. Now, you tell me, where the logic is in all of that! And the metal that has had the best performance so far this year, gaining 22% to date, Palladium, is getting whacked badly this morning on the cease-fire news. I have to say that I’m taken back a step or two watching this price movement in Palladium, given the need of the metal in industrial use hasn’t changed. But, the interruptions of delivery that hung over the metal like the Sword of Damocles, from strikes, earlier this year in S. Africa, and now the conflict in Russia/ Ukraine, seem now to be a thing of the past. But, I don’t think this is anything to get upset about! Look at this whacking of Palladium’s price as an opportunity to buy at a cheaper price. That’s how I look at it! The Chinese renminbi was allowed to appreciate last night.. You know how I always tell you, be yourself, no wait! No time for Mr. Wizard Chuck! I always tell you about China’s treasure chest of reserves that they can use to help the economy when they see a problem ? Well, here’s a classic case of what I’m always telling you. It was reported by the State Council overnight, that Beijing plans to build an efficient shipping system by 2020. Don’t you love it when a country makes investment in their future? So, besides the BOC meeting this morning which will most likely be a non-even, the U.S. Data Cupboard has the conn today.. Since Friday will be the Jobs Jamboree, we’ll see the ADP Employment Report for August today. the ICSC-Goldman Store Sales report, and Factory Orders. The Gallup Poll people are putting together an index on U.S. Job Creation, which should be interesting.. The U.S. Data Cupboard did produce a stronger than expected ISM Manufacturing Index (59 in August VS 57.1 in July), just as I thought, and said it would probably do, given the weakness in the dollar, but, as I also said, I would expect this index number to come down in the coming months given my expectation of a short-term dollar rally. You see, the dollar’s value goes a long way toward whether Manufacturing cooks or not. The last time the ISM Index was this strong was March 2011. And we had QE up to our eyeballs, so everything gets thrown out of whack as far as looking at fundamentals and history. But think you get the picture. For What It’s Worth.Well, I’ve told you all about the agreement that China and Russia signed a couple of months ago whereas Russia agreed to supply China with gas.. Well, there was news this weekend that I found at www.zerohedge.com on this story, and it involves the largest gas pipeline in the World to link the two countries. here’s a snippet. “If after months of Eurasian axis formation, one still hasn’t realized why in the grand game over Ukraine supremacy – not to mention superpower geopolitics – Europe, and the West, has zero leverage, while Russia has all the trump cards, then today’s latest development in Chinese-Russian cooperation should make it abundantly clear. Overnight, following a grand ceremony in the Siberian city of Yakutsk, Russia and China officially began the construction of a new gas pipeline linking the countries. The bottom line to Russia – nearly half a trillion after China’s CNPC agreed to buy $400bn in gas from Russia’s Gazprom back in May. In return, Russia will ship 38 billion cubic meters (bcm) of gas annually over a period of 30 years. The 3,968 km pipeline linking gas fields in eastern Siberia to China will be the world’s largest fuel network in the world.” Chuck again. yes, it’s happening right before us folks. the “shift” away from a dependence on the U.S. But then long time readers will say to themselves, Hey! But Chuck has been telling us this was going to happen because of the debt buildup and history for a long time! And you would be correct! To recap. the dollar’s all-out assault on the currencies and Gold yesterday has backed off this morning with the news that maybe a cease-fire between Ukraine and Russia has been made and maybe not. Australia printed a strong 2nd QTR GDP, well stronger than expected, and RBA Gov. Stevens ended up on the hawkish side of statements, and I’m sure he didn’t mean to! Gold got whacked yesterday, but has wrapped a tourniquet around the bleeding this morning, while Palladium takes over at the bloodletting table for Gold. Not good news from Sweden and Norway this morning, and the Bank of Canada meets today, should be a non-event. Currencies today 9/3/14. American Style: A$ .9325, kiwi .8325, C$ .9175, euro 1.3160, sterling 1.6460, Swiss $1.0895, . European Style: rand 10.6965, krone 6.2045 ,SEK 6.9915, forint 238.75, zloty 3.1870, koruna 21.0315, RUB 36.92, yen 105.05, sing 1.2520, HKD 7.7505, INR 60.49, China 6.1697, pesos 13.09, BRL 2.2435, Dollar Index 82.83, Oil $93.71, 10-year 2.45%, Silver $19.17, Platinum $1,409.88, Palladium $879.00, and Gold. $1,267.80 That’s it for today. What a dolt I am for that elevator repair mix up. UGH! It looks really froggy out this morning. Spell checker didn’t like my version of foggy, but I told it to deal with it! Another exciting win by my beloved Cardinals last night, I sure hope this time it’s for real, and no false dawn like we’ve seen all season long! Speaking of froggy, it reminds me of many years ago, when Kathy & Chuck were driving to St. Louis from Des Moines, Ia. The fog was so thick that the only way I could continue to drive was to crack the door open so I knew where the white line on the road was. That was dangerous, yes, I know it. Just shows how desperate we were to get out of Des Moines and back home to St. Louis! Well, after about 6 years, I finally had to have a new wireless modem put in the house. I was going crazy with all the interruptions to my TV! Hey! It’s college football season, baseball playoffs are around the corner, and the NFL starts tomorrow night, I had to get that fixed! HA! I noticed at the grocery store this past weekend that they had HUGE displays out of Halloween candy already.. UGH! What? I next week too early to get the Christmas stuff out? Our Hockey Blues were showing off their new jersey last week. Everything runs together now I guess! Oh well. I’ve got to get this to Mike for the finishing touches, I hope everyone has a Wonderful Wednesday! Chuck Butler President EverBank World Markets
Recommended Links Editor’s Note: In yesterday’s Weekend Edition, Casey Research founder Doug Casey explained why gold stocks can offer 10 times or even 100 times returns on your money. Today, Doug explains how to stack the odds in your favor when buying gold stocks… Doug Casey: You know, I first started looking at gold stocks back in the early 1970s. In those days, South African stocks were the “blue chips” of the mining industry. As a country, South Africa mined about 60% of all the gold mined in the world, and costs were very low. Gold was controlled at $35 per ounce until Nixon closed the gold window in 1971, but some South Africans were able to mine it for $20 an ounce or less. They were paying huge dividends. Gold had run up from $35 to $200 in early 1974, then corrected down to $100 by 1976. It had come off 50%, but at the same time that gold was bottoming around $100, they had some serious riots in Soweto. So the gold stocks got a double hit: falling gold prices and fear of revolution in South Africa. That made it possible, in those days, to buy into short-lived, high-cost mining companies very cheaply; the stocks of the marginal companies were yielding current dividends of 50-75%. They were penny stocks in those days. They no longer exist; they’ve all been merged into mining finance houses long since then. Three names I remember from those days were Leslie, Bracken, Grootvlei…I owned a lot of shares in them. If you bought Leslie for 80 cents a share, you’d expect, based on previous dividends, to get about 60 cents a share in that year. But then gold started flying upward, the psychology regarding South Africa changed, and by 1980—the next real peak—you were getting several times what you paid for the stock in dividends alone, per year. Louis James: Wow. I can think of some leveraged companies that might be able to deliver that sort of performance if gold goes where we think it will. So, where do you think we are in the current trend or metals cycle? You’ve spoken of the Stealth, Wall of Worry, and Mania Phases of a bull market for metals—do you still think of our market in those terms? Doug: That’s the big question, isn’t it? Well, the last major bottom in this sector was from 1998 to 2002. Many of these junior mining stocks—mostly traded in Canada, where about 75% of all the gold stocks in the world trade—were trading for less than cash in the bank. Literally. You’d get all their properties, their technology, the expertise of their management, totally for free. Or less. L: I remember seeing past issues in which you said, “If I could call your broker and order these stocks for you, I would.” Doug: Yes. But nobody wanted to hear about it at that time. Gold was low, and there was a bubble in Internet stocks—why would anyone want to get involved in a dead duck, 19th century, “choo-choo train” industry like gold mining? It had been completely discredited by the long bear market—but that made it the ideal time to buy them, of course. That was deep in the Stealth Phase. Over the next six to eight years, these stocks took off, moving us into the Wall of Worry Phase. But the stocks didn’t fly the way they did in past bull markets. I think that’s mostly because they were so depleted of capital, they were selling lots of shares. So their market capitalizations—the aggregate value given to them by the market—were increasing, but their share prices weren’t. Not as much. Remember, these companies very rarely have any earnings, but they always need capital, and the only way they can get it is by selling new shares, which dilutes the value of the individual shares, including those held by existing shareholders. Then last fall hit, and nobody, but nobody, wanted anything speculative. These most volatile of stocks showed their nature and plunged through the floor in the general flight to safety. That made last fall the second best time to buy mining shares this cycle, and I know you recommended some pretty aggressive buying last fall, near the bottom. Now, many of these shares—the better ones at least—have recovered substantially, and some have even surpassed pre-crash highs. Again, the Wall of Worry Phase is characterized by large fluctuations that separate the wolves from the sheep (and the sheep from their cash). Where does that leave us? Well, as you know, I think gold is going to go much, much higher. And that is going to direct a lot of attention toward these gold stocks. When people get gold fever, they are not just driven by greed, they’re usually driven by fear as well, so you get both of the most powerful market motivators working for you at once. It’s a rare class of securities that can benefit from fear and greed at once. – Remember that the Fed’s pumping up of the money supply ignited a huge bubble in tech stocks, and then an even more massive global bubble in real estate—which is over for a long time, incidentally—but they’re still creating tons of dollars. That will inevitably ignite other asset bubbles. Where? I can’t say for certain, but I say the odds are extremely high that as gold goes up, for all the reasons we spoke about last week and more, a lot of this funny money is going to be directed into these gold stocks, which are not just a microcap area of the market but a nanocap area of the market. I’ve said it before, and I’ll say it again: When the public gets the bit in its teeth and wants to buy gold stocks, it’s going to be like trying to siphon the contents of the Hoover Dam through a garden hose. Gold stocks, as a class, are going to be explosive. Now, you’ve got to remember that most of them are junk. Most will never, ever find an economical deposit. But it’s hopes and dreams that drive them, not reality, and even without merit, they can still go 10, 20, or 30 times your entry price. And the companies that actually have the goods can go much higher than that. At the moment, gold stock prices are not as cheap, in either relative or absolute terms, as they were at the turn of the century, nor last fall. But given that the Mania Phase is still ahead, they are good speculations right now—especially the ones that have actually discovered gold deposits that look economical. L: So, if you buy good companies now, with good projects, good management, working in stable jurisdictions, with a couple years of operating cash to see them through the Wall of Worry fluctuations—if you buy these and hold for the Mania Phase, you should come out very well. But you can’t blink and get stampeded out of your positions when the market fluctuates sharply. Doug: That’s exactly right. At the particular stage where we are right now in this market for these extraordinarily volatile securities, if you buy a quality exploration company, or a quality development company (which is to say, a company that has found something and is advancing it toward production), those shares could still go down 10%, 20%, 30%, or even 50%. But ultimately, there’s an excellent chance that same stock will go up by 10, 50, or even 100 times. I hate to use such hard-to-believe numbers, but that is the way this market works. When the coming resource bubble is ignited, there are excellent odds you’ll be laughing all the way to the bank in a few years. I should stress that I’m not saying this is the perfect time to buy. We’re not at a market bottom as we were in 2001, nor an interim bottom like last November, and I can’t say I know the Mania Phase is just around the corner. But I think this is a very reasonable time to be buying these stocks. And it’s absolutely a good time to start educating yourself about them. There’s just such a good chance a massive bubble is going to be ignited in this area. L: These are obviously the kinds of things we research, make recommendations on, and educate about in our metals newsletters, but one thing we should stress for nonsubscribers reading this interview is that this strategy applies only to the speculative portion of your portfolio. No one should gamble with their rent money nor the money they’ve saved for college tuition, etc. Doug: Right. The ideal speculator’s portfolio would be divided into 10 areas, each totally different and not correlated with each other. Each of these areas should have, in your subjective opinion, the ability to move 1,000% in price. Why is that? Because most of the time, we’re wrong when we pick areas to speculate in, certainly in areas where you can’t apply Graham-Dodd-type logic. But if you’re wrong on nine out of 10 of them—and it would be hard to do that badly—then you at least break even on the one 10-bagger (1,000% winner). What’s more likely is that a couple will blow up and go to zero, a couple will go down 30%, 40%, 50%, but you’ll also have a couple doubles or triples, and maybe, on one or two of them, you’ll get a 10-to-1 or better win. So, it looks very risky (and falling in love with any single stock is very risky), but it’s actually an intelligent way to diversify your risk and stack the odds of profiting on volatility in your favor. Note that I don’t mean that these “areas” should be 10 different stocks in the junior mining sector—that wouldn’t be diversification. As I say, ideally, I’d have 10 such areas with potential for 1,000% gains, but it’s usually impossible to find that many at once. If you can find only two or three, what do you do with the rest of your money? Well, at this point, I would put a lot of it into gold, in one form or another, while keeping your powder dry as you look for the next idea opportunity. And ideally, I’d look at every market in every country in the world. People who look only in the U.S., or only in stocks, or only in real estate… they just don’t get to see enough balls to swing at. L: Okay, got it. Thank you very much. Doug: A pleasure, as always. Editor’s note: Doug Casey recently put $1 million of his money in penny gold stocks using the “Casey Method”…a proven way of selecting gold stocks with 5x upside, 10x upside, or more. And now, for the first time ever, he is revealing the secrets behind this lucrative strategy in this free video presentation. The last time we saw a gold market like today’s, the Casey Method found 16 stocks. The stocks more than doubled in 12 months, with an average gain of 313%. And Doug believes that today’s gold boom will even be bigger…the biggest gold mania we’ve ever seen. 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