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Airline losses worldwide may total $9 billion in 2009, nearly double a previous forecast, as an outbreak of swine flu compounds the effects of the recession, the industry's main trade group said.
Sales may fall 15 percent to $448 billion this year from $528 billion in 2008, the International Air Transport Association said in a statement distributed at its annual meeting in Kuala Lumpur today.
"This is the most difficult situation that the industry has faced," IATA Chief Executive Officer Giovanni Bisignani said.
Sales may fall 15 percent to $448 billion this year from $528 billion in 2008, the International Air Transport Association said in a statement distributed at its annual meeting in Kuala Lumpur today.
"This is the most difficult situation that the industry has faced," IATA Chief Executive Officer Giovanni Bisignani said.
- Bloomberg
McDonald's said Monday its same-store sales climbed 5.1% in May, as the hamburger chain continued to prosper from budget-conscious consumers.
The Oak Brook, Ill.-based company said U.S. same-store sales climbed 2.8%, helped by classic menu items and its new McCafe espresso-based coffees.
The espresso drinks are now being rolled out to all the company's U.S. restaurants. In May last year, the company's same-store sales rose 4.3% in the U.S.
The Oak Brook, Ill.-based company said U.S. same-store sales climbed 2.8%, helped by classic menu items and its new McCafe espresso-based coffees.
The espresso drinks are now being rolled out to all the company's U.S. restaurants. In May last year, the company's same-store sales rose 4.3% in the U.S.
- USA Today
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These Stocks Rise Faster Than Any Other Investment Class in the World
By Tom Dyson Monday, June 8, 2009 These Stocks Rise Faster Than Any Other Investment Class in the World -
The Double-Digit Bear Market Income Secret Revisited
By Tom Dyson Saturday, June 6, 2009 The Double-Digit Bear Market Income Secret Revisited -
A Legendary Investor's Best Advice on Protecting Your Wealth
By Dr. Steve Sjuggerud Friday, June 5, 2009 A Legendary Investor's Best Advice on Protecting Your Wealth -
This Group of Stocks Is Preparing for a Moonshot
By Tom Dyson Thursday, June 4, 2009 This Group of Stocks Is Preparing for a Moonshot -
This Group of Stocks Is Preparing for a Moonshot
By Tom Dyson Wednesday, June 3, 2009 This Group of Stocks Is Preparing for a Moonshot
The Right Amount of Gold Investors Should Own
By Dr. Steve SjuggerudTuesday, June 9, 2009
You often hear "You need to own gold!" But how much is the right amount?
You don't want to own too little gold and have the purchasing power of all your savings shrink dramatically. You can't afford that. But you don't want to be an end-of-the-world nutcase either.
Well, one of the world's shrewdest investors – Jean-Marie Eveillard – has 10% to 12% of his extremely successful investment fund allocated to gold and gold plays...
Jean-Marie Eveillard's First Eagle Global Fund beat the stock market every year this decade. What's more, he's done it conservatively... He doesn't take big risks. Over 30 years, he's proven to be one of the most successful mutual fund managers ever.
So what's Jean-Marie Eveillard recommend buying today?
"After equity markets have gone up 35%-40% or more over the past three months, ideas that are immediately appealing are few," he told Bloomberg news today. But he did have one big idea... gold.
Right now, his fund is about 10% invested "in gold and gold mining securities," he said.
His explanation is simple: "It's insurance to protect against the fact that current policies by the American government and the Fed are potentially wildly inflationary."
Jean-Marie likes gold because he expects the Fed will leave interest rates near zero for a very long time.
The Fed will "stay pat until the politicians give them the green light to raise rates, which will take quite a while. As long as unemployment is very high, politicians will be reluctant to push up short-term rates."
When I got into investing nearly 20 years ago, Jean-Marie was already a legend. After doing my homework, his First Eagle Global Fund was one of the very first investments I ever bought. (Back then, it was called the SoGen fund... it still uses its old symbol, SGENX.)
Jean-Marie started managing the fund in 1979. If you had invested $10,000 in the fund back then, it would be worth roughly $500,000 today. (Heck, I should have kept my money in there!)
His "big idea" now is very simple. Gold pays no interest. And money in the bank pays nearly no interest. You can print money. But you can't print gold. If the Fed keeps interest rates near zero for the foreseeable future, the obvious outcome is that it will take more slips of paper (dollar bills) to buy an ounce of gold.
He believes his clients' money should be about 10% or so allocated to gold and gold investments. What's right for your situation? That's up to you. But if you're substantially under or over the legendary investor's gold allocation, then you ought to consider getting more in line with him...
Good investing,
Steve
You don't want to own too little gold and have the purchasing power of all your savings shrink dramatically. You can't afford that. But you don't want to be an end-of-the-world nutcase either.
Well, one of the world's shrewdest investors – Jean-Marie Eveillard – has 10% to 12% of his extremely successful investment fund allocated to gold and gold plays...
Jean-Marie Eveillard's First Eagle Global Fund beat the stock market every year this decade. What's more, he's done it conservatively... He doesn't take big risks. Over 30 years, he's proven to be one of the most successful mutual fund managers ever.
So what's Jean-Marie Eveillard recommend buying today?
"After equity markets have gone up 35%-40% or more over the past three months, ideas that are immediately appealing are few," he told Bloomberg news today. But he did have one big idea... gold.
Right now, his fund is about 10% invested "in gold and gold mining securities," he said.
His explanation is simple: "It's insurance to protect against the fact that current policies by the American government and the Fed are potentially wildly inflationary."
Jean-Marie likes gold because he expects the Fed will leave interest rates near zero for a very long time.
The Fed will "stay pat until the politicians give them the green light to raise rates, which will take quite a while. As long as unemployment is very high, politicians will be reluctant to push up short-term rates."
When I got into investing nearly 20 years ago, Jean-Marie was already a legend. After doing my homework, his First Eagle Global Fund was one of the very first investments I ever bought. (Back then, it was called the SoGen fund... it still uses its old symbol, SGENX.)
Jean-Marie started managing the fund in 1979. If you had invested $10,000 in the fund back then, it would be worth roughly $500,000 today. (Heck, I should have kept my money in there!)
His "big idea" now is very simple. Gold pays no interest. And money in the bank pays nearly no interest. You can print money. But you can't print gold. If the Fed keeps interest rates near zero for the foreseeable future, the obvious outcome is that it will take more slips of paper (dollar bills) to buy an ounce of gold.
He believes his clients' money should be about 10% or so allocated to gold and gold investments. What's right for your situation? That's up to you. But if you're substantially under or over the legendary investor's gold allocation, then you ought to consider getting more in line with him...
Good investing,
Steve
OUR TOP ECONOMIC INDICATOR IS SOARING
More from the "glass half full" files: Copper is in the midst of a historic rally.
Longtime DailyWealth readers know we pay close attention to the price of copper to monitor the world's economic health. Copper is used in automobiles, housing, power lines, electronics, appliances, and just about everything else around you... so its price immediately reflects economic activity.
Back in March, we pointed out copper's "breakout" above $1.65 per pound as a sign things were getting less bad in the economy. This was classic "the market leads the news, not the other way around" behavior. It was several months before any "less bad" headlines appeared in the paper.
So how is copper doing nowadays? As you can see from today's chart, it's booming. The red metal is up 38% since the March breakout... and up 75% from its December low. This is pictorial evidence that the government's "bailouts for everyone" policy is keeping the economy afloat. The long-term consequences will be ugly. But for now, it's "glass half full" for the economy.
Longtime DailyWealth readers know we pay close attention to the price of copper to monitor the world's economic health. Copper is used in automobiles, housing, power lines, electronics, appliances, and just about everything else around you... so its price immediately reflects economic activity.
Back in March, we pointed out copper's "breakout" above $1.65 per pound as a sign things were getting less bad in the economy. This was classic "the market leads the news, not the other way around" behavior. It was several months before any "less bad" headlines appeared in the paper.
So how is copper doing nowadays? As you can see from today's chart, it's booming. The red metal is up 38% since the March breakout... and up 75% from its December low. This is pictorial evidence that the government's "bailouts for everyone" policy is keeping the economy afloat. The long-term consequences will be ugly. But for now, it's "glass half full" for the economy.