Gramercy Funds in Middle of Argentina’s Debt Battle

AppId is over the quota
AppId is over the quota
The fight is over how much Argentina will pay to cover its 2001 default of $82 billion in sovereign debt. Thomas P. Griesa, a federal judge in Manhattan, has ordered Argentina to pay $1.3 billion to investors who hold the defaulted debt and who refused to participate in the country’s subsequent debt restructurings. Argentina has declined to pay.

A group of investment funds that hold Argentine debt created in the restructuring has filed briefs on behalf of the country.

They are led by Gramercy, a $3.4 billion hedge fund that specializes in emerging market investments and that is registered with the Securities and Exchange Commission as an investment adviser. While Gramercy is an advocate for Argentina in court, past legal problems at the firm are coming into focus. They relate to a number of tax problems experienced by clients of Gramercy Advisors, an affiliate that ceased operations in 2011.

According to federal and state court filings, Gramercy Advisors arranged deals involving distressed Brazilian debt that the Internal Revenue Service later ruled to be sham transactions.

Hundreds of millions of dollars in tax losses in these deals have been disallowed for Gramercy’s clients.

Sean F. O’Shea, a lawyer who represents Gramercy, called the tax cases against the firm “stale and meritless.” He added: “No court or regulator in over 10 years has found any merit whatsoever to any allegations raised against Gramercy in connection with these cases.”

Robert S. Koenigsberger, founder and chief investment officer of Gramercy Funds Management, was a principal at Gramercy Advisors, regulatory filings show. He declined to comment, but according to the firm’s Web site, he started Gramercy in 1998 and “led Gramercy’s efforts in conceiving, organizing and facilitating the successful restructuring of Argentina’s defaulted debt,” in 2010.

An article in The Financial Times that year said Gramercy was believed to be the largest investor in Argentine debt securities.

The Gramercy investments that created tax problems for its clients were known as Distressed Asset Debt deals or DADs. They involved the purchase of old and uncollected Brazilian consumer debt obligations belonging to several retailers. According to the I.R.S., the obligations were purchased by Gramercy clients at a price far in excess of their worth and at a value determined by Gramercy. When the debt was subsequently sold at market value — for pennies on the dollar — the clients using the investment strategy reported sizable tax losses.

The deals were made in the early 2000s. But after the I.R.S. ruled that the shelters did not have an economic purpose other than to generate a tax benefit, back taxes and penalties were levied. About 50 investors in the Gramercy Global Recovery Fund were affected.

Some of these clients have sued the firm. One complaint with fraud accusations was filed against Gramercy by two investors in New York State Supreme Court in September 2011.

Echoing the I.R.S.’s assessments, the investors contend that Gramercy’s investment strategy involved false valuations of worthless instruments; they also say the deals generated illegitimate profits to the firm. The judge heard arguments on a motion to dismiss the matter several weeks ago. She has not yet ruled.

The federal government also took action last year against Gramercy Advisors for failing to provide 1,300 pages of documents subpoenaed in a case related to dubious tax deals like those arranged by Gramercy.

“Gramercy was caught withholding relevant and responsive documents,” the government said in an April 2011 filing. “The transaction the United States is requesting documents for is not an ‘investment’ but an elaborate scheme to claim artificial tax losses for the sole purpose of avoiding large tax liabilities owed by its clients,” the government said.

J. Robert Young, Gramercy’s managing director for accounting, testified that the firm had “sold ‘tax solutions’ to multiple clients to generate approximately $700 million in false losses” for 2002 alone, the government’s filing noted.

View the original article here

Mutual Funds Report: First Quarter

AppId is over the quota AppId is over the quota A second consecutive quarter of eye-popping gains for stocks hasn’t convinced much of the investor world that happy days are here again.

The rising market in the first quarter was built on technology and consumer stocks, not the safe, income-producing shares that led it higher at the start of 2011.

 

Mutual Funds Report: First Quarter

AppId is over the quota AppId is over the quota A second consecutive quarter of eye-popping gains for stocks hasn’t convinced much of the investor world that happy days are here again.

The rising market in the first quarter was built on technology and consumer stocks, not the safe, income-producing shares that led it higher at the start of 2011.

 

Mutual Funds Report: First Quarter

AppId is over the quota AppId is over the quota A second consecutive quarter of eye-popping gains for stocks hasn’t convinced much of the investor world that happy days are here again.

The rising market in the first quarter was built on technology and consumer stocks, not the safe, income-producing shares that led it higher at the start of 2011.

Gold traded mutual funds

"Gold is a wonderful thing! Who owns it is Lord of everything that he wants. Through Gold one can even get souls in Paradise. "
-Columbus
Gold is a good investment roads open for many reasons.
Why would a investing in gold?
The uncertainty in world markets, particularly the u.s. economy and the weakening of the US Dollar against world currencies in combination with a phenomenal increase in oil prices, cascading price rise and inflationary trends-these highlight the need of strong world currency and all of that is the yellow metal- "THE GOLD". The Bullion has its own standard. Moreover, it has been said that sentimental values especially in the Asian countries. Over time, has proved an excellent protector of wealth.
Gold maintains its value in terms of real purchasing power in the very long term in all countries particularly in the USA, Great Britain, France, Germany and Japan. Despite price fluctuations, it has its historic purchasing power parity with other raw materials and intermediate products are consistently maintained.
Gold traded mutual funds are the answer for people who invest in the yellow metal without the real problems like the company. For example, to buy gold for investment, has a spending time to verify her weight, purity (especially in third world countries) quality & other aspects. After all this, the problem of custody hovers above your head. Gold traded Mutual Funds now offer all the advantages of such investment without any of the above physical problems. The Golden of liquidity, acceptability and portability are particularly important in times of need. All these benefits are essentially preserved & melted by Gold traded mutual funds.
How these gold traded mutual funds operate?
They accept funds from public and tested 100% pure gold buy. They give unit certificate to the public for every ounce of gold invested by them. For example, if one wants to buy 100 grams of the yellow metal, one has to buy 100 units of the investment fund. The unit price is depending on the price of the yellow metal ruling on any given day.
This investment can be held on paper or in a demat account. These units can be surrendered to the Fund and bars in Exchange can be obtained (if necessary).
How the fund redemption in gold bars?
All the gold bought by the Fund shall be deposited with a custodian-usually a reputed banker-for the safe keep in their secure safes. Once the Fund units are redeemed, the Fund authorizes the banker/guardian to release them.
So this helps the investor get back gold or retain the deposit (Investor's choice). Since these units are traded in the market, can someone these units easily in the market to sell the price on that day. One should not look for a buyer as in the case of the sale of physical gold.
Gold traded Mutual Fund offers all the benefits of investments in the yellow metal without her physical problems. The main benefits of these funds are:
o safety
o liquidity
o convertibility to physical gold

A Contrarian Approach to Investing in Gold Exchange Traded Funds

There are plenty of reasons why Gold is the wrong place to invest at this particular moment in investment history. For starters, the largest holder of gold, the metal, is not the various countries in their formidable reserves. Instead, Exchange Traded Funds (ETF) are the largest owners of gold. This means that countries were able to offload this precious metal at an equally precious profit because retail investors were happy to pay the premiums they wanted. In return, large gold-holding countries like China were able to reinvest their new wealth in US Treasuries at rates that make even the most uninvolved taxpayer nervous.

Aside from the fact that retail investors, through exchange traded funds, hold so much gold, there is a point in the overall equity market where investors see the premium charged and limited upside potential in gold and realize that even after some form of recovery, equities are still cheaper. This has slowly been making itself apparent as gold as edged a little lower from its all-time highs and more money has started flowing into the equity markets - which are a lot more liquid and cheaper.

However, there are some options for people who want to play the gold game. Unfortunately, however, those options involve taking a longer-term, bearish stance on gold. Just as oil hit its high of nearly $150 in 2007 and remains more than 40% below that high today, it seems evident that when gold starts to pull back, it too might take some time to return to the recent highs (in fact, in the 1990's, it seemed gold would never tough the $400 level again, yet here we are).

One way to capitalize on the long-term negative returns that gold is expected to deliver in the future, investors can invest in inverse exchange traded funds. By investing in inverse exchange traded funds, investors are essentially playing the odds that gold will depreciate in value. Understanding of course that gold will not drop overnight, some investors might become anxious with the little movement that such funds deliver, but just as surely as gold reached beyond $1,100 per ounce, it will also dip below that same $1,000 level again in the future. The question, of course, is when.

With the right amount of patience and a long-term strategy, investors could incorporate a bearish gold investment with other securities that are currently poised to rebound in the long-term, such as some equities that are currently out of favor. After all, contrarian investing has a history of making certain investors very rich.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

How to Trade Gold, Silver, Oil and Natural Gas ETF Funds

Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Just from a quick glance at the charts we can tell the odds are pointing to some type of pause or pullback in the coming days. I figure any day now we could see some profit taking.

Gold ETF Trading - GLD

The Gold ETF is one of my favorite trading vehicles. Using simple trend lines and looking at the recent price action you can see that the price of gold is looking ready for a pullback. Buying at this level is chasing and that generally means you buy at the high and panic out at the low.

Silver ETF Trading - SLV

The Silver ETF looks to be in the same boat as gold. I expect to see some sideways price action or a pullback.

Natural Gas ETF Trading - UNG

The Natural Gas ETF sure has given everyone a wild ride in the past 6 months. The bear market is still in place which can be seen on the daily chart. So far this week the price has broken down and trading at the $11 support level. This fund could generate a buy or sell signal with my trading model in the coming days so I am waiting for a clear entry and exit point before jumping on the gas wagon.

Crude Oil ETF Trading - USO

The Crude Oil ETF has broken above its resistance trend line this week but still struggling to move above the August high. Volume is declining while the price rises which is a bearish indicator. USO looks ready for some type of a pullback as it digests this breakout before moving higher.

Mid-Week GLD, SLV, UNG, USO ETF Trading Report

What does the general public hear and think about the stock market?

From recent emails, local financial news shows, family, friends etc... all I am hearing is how strong the market is. Indexes are making new yearly highs and company earnings are better than expected this quarter. Sounds like all we need to do is buy and life will be great!

Well in my opinion the market is the perfect tool for misguiding and frustrating the general public. All my indicators are telling me we need more of a correction before rallying much higher. The market (smart money) generally anticipates good and bad news several weeks if not a month in advance. So the question is:

Are company earnings already priced into the market? Is all this positive market coverage getting the general public to buy up here at this possible market top?

The answer is, only time will tell. No one knows for sure what the market is going to do but short term moves can be predicted with relatively high accuracy. Don't get me wrong, I am still bullish on the market but with all this good news becoming public information you have to wonder what is next. I am still long the market but trimming my positions to lock in profits and still stay in the game.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

How to Trade Gold, Silver, Oil and Natural Gas ETF Funds

Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Just from a quick glance at the charts we can tell the odds are pointing to some type of pause or pullback in the coming days. I figure any day now we could see some profit taking.

Gold ETF Trading - GLD

The Gold ETF is one of my favorite trading vehicles. Using simple trend lines and looking at the recent price action you can see that the price of gold is looking ready for a pullback. Buying at this level is chasing and that generally means you buy at the high and panic out at the low.

Silver ETF Trading - SLV

The Silver ETF looks to be in the same boat as gold. I expect to see some sideways price action or a pullback.

Natural Gas ETF Trading - UNG

The Natural Gas ETF sure has given everyone a wild ride in the past 6 months. The bear market is still in place which can be seen on the daily chart. So far this week the price has broken down and trading at the $11 support level. This fund could generate a buy or sell signal with my trading model in the coming days so I am waiting for a clear entry and exit point before jumping on the gas wagon.

Crude Oil ETF Trading - USO

The Crude Oil ETF has broken above its resistance trend line this week but still struggling to move above the August high. Volume is declining while the price rises which is a bearish indicator. USO looks ready for some type of a pullback as it digests this breakout before moving higher.

Mid-Week GLD, SLV, UNG, USO ETF Trading Report

What does the general public hear and think about the stock market?

From recent emails, local financial news shows, family, friends etc... all I am hearing is how strong the market is. Indexes are making new yearly highs and company earnings are better than expected this quarter. Sounds like all we need to do is buy and life will be great!

Well in my opinion the market is the perfect tool for misguiding and frustrating the general public. All my indicators are telling me we need more of a correction before rallying much higher. The market (smart money) generally anticipates good and bad news several weeks if not a month in advance. So the question is:

Are company earnings already priced into the market? Is all this positive market coverage getting the general public to buy up here at this possible market top?

The answer is, only time will tell. No one knows for sure what the market is going to do but short term moves can be predicted with relatively high accuracy. Don't get me wrong, I am still bullish on the market but with all this good news becoming public information you have to wonder what is next. I am still long the market but trimming my positions to lock in profits and still stay in the game.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

How to Trade Gold, Silver, Oil and Natural Gas ETF Funds

Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Just from a quick glance at the charts we can tell the odds are pointing to some type of pause or pullback in the coming days. I figure any day now we could see some profit taking.

Gold ETF Trading - GLD

The Gold ETF is one of my favorite trading vehicles. Using simple trend lines and looking at the recent price action you can see that the price of gold is looking ready for a pullback. Buying at this level is chasing and that generally means you buy at the high and panic out at the low.

Silver ETF Trading - SLV

The Silver ETF looks to be in the same boat as gold. I expect to see some sideways price action or a pullback.

Natural Gas ETF Trading - UNG

The Natural Gas ETF sure has given everyone a wild ride in the past 6 months. The bear market is still in place which can be seen on the daily chart. So far this week the price has broken down and trading at the $11 support level. This fund could generate a buy or sell signal with my trading model in the coming days so I am waiting for a clear entry and exit point before jumping on the gas wagon.

Crude Oil ETF Trading - USO

The Crude Oil ETF has broken above its resistance trend line this week but still struggling to move above the August high. Volume is declining while the price rises which is a bearish indicator. USO looks ready for some type of a pullback as it digests this breakout before moving higher.

Mid-Week GLD, SLV, UNG, USO ETF Trading Report

What does the general public hear and think about the stock market?

From recent emails, local financial news shows, family, friends etc... all I am hearing is how strong the market is. Indexes are making new yearly highs and company earnings are better than expected this quarter. Sounds like all we need to do is buy and life will be great!

Well in my opinion the market is the perfect tool for misguiding and frustrating the general public. All my indicators are telling me we need more of a correction before rallying much higher. The market (smart money) generally anticipates good and bad news several weeks if not a month in advance. So the question is:

Are company earnings already priced into the market? Is all this positive market coverage getting the general public to buy up here at this possible market top?

The answer is, only time will tell. No one knows for sure what the market is going to do but short term moves can be predicted with relatively high accuracy. Don't get me wrong, I am still bullish on the market but with all this good news becoming public information you have to wonder what is next. I am still long the market but trimming my positions to lock in profits and still stay in the game.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

How to Trade Gold, Silver, Oil and Natural Gas ETF Funds

Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Just from a quick glance at the charts we can tell the odds are pointing to some type of pause or pullback in the coming days. I figure any day now we could see some profit taking.

Gold ETF Trading - GLD

The Gold ETF is one of my favorite trading vehicles. Using simple trend lines and looking at the recent price action you can see that the price of gold is looking ready for a pullback. Buying at this level is chasing and that generally means you buy at the high and panic out at the low.

Silver ETF Trading - SLV

The Silver ETF looks to be in the same boat as gold. I expect to see some sideways price action or a pullback.

Natural Gas ETF Trading - UNG

The Natural Gas ETF sure has given everyone a wild ride in the past 6 months. The bear market is still in place which can be seen on the daily chart. So far this week the price has broken down and trading at the $11 support level. This fund could generate a buy or sell signal with my trading model in the coming days so I am waiting for a clear entry and exit point before jumping on the gas wagon.

Crude Oil ETF Trading - USO

The Crude Oil ETF has broken above its resistance trend line this week but still struggling to move above the August high. Volume is declining while the price rises which is a bearish indicator. USO looks ready for some type of a pullback as it digests this breakout before moving higher.

Mid-Week GLD, SLV, UNG, USO ETF Trading Report

What does the general public hear and think about the stock market?

From recent emails, local financial news shows, family, friends etc... all I am hearing is how strong the market is. Indexes are making new yearly highs and company earnings are better than expected this quarter. Sounds like all we need to do is buy and life will be great!

Well in my opinion the market is the perfect tool for misguiding and frustrating the general public. All my indicators are telling me we need more of a correction before rallying much higher. The market (smart money) generally anticipates good and bad news several weeks if not a month in advance. So the question is:

Are company earnings already priced into the market? Is all this positive market coverage getting the general public to buy up here at this possible market top?

The answer is, only time will tell. No one knows for sure what the market is going to do but short term moves can be predicted with relatively high accuracy. Don't get me wrong, I am still bullish on the market but with all this good news becoming public information you have to wonder what is next. I am still long the market but trimming my positions to lock in profits and still stay in the game.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Commodities and stocks have been on fire the past two weeks and I think it just may be time for things to take a breather. While I continue to stay long, taking some money off the table to lock in profits is a safe play. Just from a quick glance at the charts we can tell the odds are pointing to some type of pause or pullback in the coming days. I figure any day now we could see some profit taking.
Gold ETF Trading - GLD
The Gold ETF is one of my favorite trading vehicles. Using simple trend lines and looking at the recent price action you can see that the price of gold is looking ready for a pullback. Buying at this level is chasing and that generally means you buy at the high and panic out at the low.
Silver ETF Trading - SLV
The Silver ETF looks to be in the same boat as gold. I expect to see some sideways price action or a pullback.
Natural Gas ETF Trading - UNG
The Natural Gas ETF sure has given everyone a wild ride in the past 6 months. The bear market is still in place which can be seen on the daily chart. So far this week the price has broken down and trading at the $11 support level. This fund could generate a buy or sell signal with my trading model in the coming days so I am waiting for a clear entry and exit point before jumping on the gas wagon.
Crude Oil ETF Trading - USO
The Crude Oil ETF has broken above its resistance trend line this week but still struggling to move above the August high. Volume is declining while the price rises which is a bearish indicator. USO looks ready for some type of a pullback as it digests this breakout before moving higher.
Mid-Week GLD, SLV, UNG, USO ETF Trading Report
What does the general public hear and think about the stock market?
From recent emails, local financial news shows, family, friends etc... all I am hearing is how strong the market is. Indexes are making new yearly highs and company earnings are better than expected this quarter. Sounds like all we need to do is buy and life will be great!
Well in my opinion the market is the perfect tool for misguiding and frustrating the general public. All my indicators are telling me we need more of a correction before rallying much higher. The market (smart money) generally anticipates good and bad news several weeks if not a month in advance. So the question is:
Are company earnings already priced into the market? Is all this positive market coverage getting the general public to buy up here at this possible market top?
The answer is, only time will tell. No one knows for sure what the market is going to do but short term moves can be predicted with relatively high accuracy. Don't get me wrong, I am still bullish on the market but with all this good news becoming public information you have to wonder what is next. I am still long the market but trimming my positions to lock in profits and still stay in the game

Doing well the emerging markets exchange-traded funds

This year so far, the 10 will receive these funds of many emerging market funds and exchange traded funds,. More of these funds in General, has funds of United States.

There the same despite the strong performance of all emerging market funds and is not. Underlying shares make these funds, and of, see and look at trends should be.

International Etf, manufacturing of investing more in this area is doing now is the best. This is what you have seen in past, is shifting. Emerging market ETFs, previously, was based on the profit products for best performance, companies are investing especially oil.

Are the two major emerging markets trading funds i iShares MSCI Brazil is the EWZ i iShares FTSE. Xinhua China 25 Index Fund (FXI). These funds are going well, and institutional investors yet these ETFs to show confidence. This tend have been developed in the last year.

Products are showing signs of a pullback Department now emerging market funds invest in companies is the Etf. Of these products is mainly oil and gold. Emerging markets have invested in this sector funds are headed straight for in the last few years. At this point these funds seems have a breather.

This is the one up and future funds i iShares MSCI Japan index fund ( EWJ). Japan economy is picking up and also other Asian stocks rising: Institutional investors, this Fund shows interest.

Top 10 sure www.exchangetradedfundinvesting.com referencing the one most popular exchange traded funds and exchange traded funds.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Doing well the emerging markets exchange-traded funds

This year so far, the 10 will receive these funds of many emerging market funds and exchange traded funds,. More of these funds in General, has funds of United States.

There the same despite the strong performance of all emerging market funds and is not. Underlying shares make these funds, and of, see and look at trends should be.

International Etf, manufacturing of investing more in this area is doing now is the best. This is what you have seen in past, is shifting. Emerging market ETFs, previously, was based on the profit products for best performance, companies are investing especially oil.

Are the two major emerging markets trading funds i iShares MSCI Brazil is the EWZ i iShares FTSE. Xinhua China 25 Index Fund (FXI). These funds are going well, and institutional investors yet these ETFs to show confidence. This tend have been developed in the last year.

Products are showing signs of a pullback Department now emerging market funds invest in companies is the Etf. Of these products is mainly oil and gold. Emerging markets have invested in this sector funds are headed straight for in the last few years. At this point these funds seems have a breather.

This is the one up and future funds i iShares MSCI Japan index fund ( EWJ). Japan economy is picking up and also other Asian stocks rising: Institutional investors, this Fund shows interest.

Top 10 sure www.exchangetradedfundinvesting.com referencing the one most popular exchange traded funds and exchange traded funds.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.