The ranking didn’t change much this week. There is one month left to go in the investment competition!
The ranking didn’t change much this week. There is one month left to go in the investment competition!
This week, the ranking hasn’t changed much.
During the week, the Dow Jones has topped 15,000 and is at its historical high. In the hedge fund industry, there is a rush toward debt-trading strategies due to regulation on banks. Nouriel Roubini, who predicted the subprime crisis, predicts a major selloff in the equity market after the 2 years rally. Goldman Sachs just released a list of the 40 most undervalued stocks in the market at the company’s eyes.
The EUERUSD reached again 1.32. Apple announced emitting debt for the first time in 15 years, and redistributing some of its cash reserves to shareholders. Facebook is announcing its results tonight. Some investors argue that Tesla will be the next Google or Apple. In the meantime, the European Union and the United States are discussing a transatlantic free trade agreement.
This week, a few companies reported their earnings. Apple announced a share repurchase and increase in dividend, which is usually a strong signal to investors. Netflix jumped. Markets recovered from the crash of last week, with gold back at 1430$. Bank of America had the largest trading volume with 117m shares exchanged during a single session.
This week, gold and silver had their largest drop on record since futures were introduced on these metals. Decreasing growth in China and rumors of central banks liquidating their gold piles drove the market. In the meantime, Goldman Sachs beat estimates with strong earnings.
The EURUSD was very emotional this week, with jumps from 1.27 to 1.30. The Borussia Dortmund’s stock is performing well since the beginning of the year. The investment competition has a new leader.
This week, the EURUSD exchange rate went below 1.28 for the first time since last autumn. Gold broke the psychological floor of 1600$. The American economy seems stronger than expected, while the European unemployment rate reached 12%, the highest on record. The S&P500 broke its all-time high (see graph below). Apple is rumoured to start producing a new iPhone. Zynga just opened two online gambling websites.