Last weekend, we noted that the next phase of this bear market will likely be driven not by U.S. financial companies or by energy prices per se, but rather by the effects of the American slowdown being felt by the rest of the world. A front page story in the WSJ on Friday noted the falling Eurozone GDP as additional evidence of a global slowdown. Looking forward, we expect continued bullishness in equities next week as the lack of major news and…
Monday, July 28, 2008
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Ryanair (RYAAY) is down about 25% today after it warned that it would miss expectations for Q1 and would probably post a loss for 2008. The reason? They deliberately refused to hedge their exposure to oil prices… Ryanair said last year that it would not hedge against the rising cost of oil last year, unless fuel prices fell below $100 a barrel. …oh, until now, that is: However on Monday, O’Leary said the airline was now hedged 90.0% for September, at $129…
Sunday, August 17, 2008
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