Wednesday, February 28, 2007
GLOBAL WARMING - THE SMART MONEY BETS ITS "A BUBBLE"
Via CCNet:
The smartest money in global warming stocks may be scurrying to the exit just when the enthusiasm for alternative-energy companies is at an all-time high....
``As an investment play,'' global warming is ``a bubble'' and ``social short-term craze,'' said Ken Fisher, who oversees $35 billion as chairman of Fisher Investments Inc. in Woodside, California.
Anyone looking for corroboration of that assessment may find it in the so-called short selling of U.S. alternative-energy stocks last month, which climbed 45 times faster than the average for Standard & Poor's 500 Index members.
SunPower, the biggest U.S. producer of solar energy, had the largest jump in short sales relative to shares outstanding in the Nasdaq Stock Market. Short sellers sell borrowed stock on the bet price declines will let them to buy back the shares at a lower price and profit from the difference.
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Note that this isn't even these managers betting their & their clients money that catastrophic warming isn't happening, take that as a given & anyway these guys aren't interested in investments of 100 years. What they are saying is that the global hype about warming is visibly about to burst. Next year all the politicians & BBC who are now riding the warming bandwaggon, saying sceptics are "from Mars" & that Holland & Norfolk are about to go underwater will all be hurrying away & looking for a new scare story to leech off of.
Course what do they know. If they're so smart howcum they aren't rich?
The smartest money in global warming stocks may be scurrying to the exit just when the enthusiasm for alternative-energy companies is at an all-time high....
``As an investment play,'' global warming is ``a bubble'' and ``social short-term craze,'' said Ken Fisher, who oversees $35 billion as chairman of Fisher Investments Inc. in Woodside, California.
Anyone looking for corroboration of that assessment may find it in the so-called short selling of U.S. alternative-energy stocks last month, which climbed 45 times faster than the average for Standard & Poor's 500 Index members.
SunPower, the biggest U.S. producer of solar energy, had the largest jump in short sales relative to shares outstanding in the Nasdaq Stock Market. Short sellers sell borrowed stock on the bet price declines will let them to buy back the shares at a lower price and profit from the difference.
------------------------
Note that this isn't even these managers betting their & their clients money that catastrophic warming isn't happening, take that as a given & anyway these guys aren't interested in investments of 100 years. What they are saying is that the global hype about warming is visibly about to burst. Next year all the politicians & BBC who are now riding the warming bandwaggon, saying sceptics are "from Mars" & that Holland & Norfolk are about to go underwater will all be hurrying away & looking for a new scare story to leech off of.
Course what do they know. If they're so smart howcum they aren't rich?
Comments:
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How do you then explain the TXU private equity deal this week in the US?
If the global warming bubble is about to burst then why are US utilities anticipating a Federal price on carbon?
Neil Craig, it sounds like you dont have a clue what you are talking about. Dont you think it a bit sill to post your views online when you haven't bothered to do your homework on the subject?
If the global warming bubble is about to burst then why are US utilities anticipating a Federal price on carbon?
Neil Craig, it sounds like you dont have a clue what you are talking about. Dont you think it a bit sill to post your views online when you haven't bothered to do your homework on the subject?
# posted by 
: March 02, 2007
: March 02, 2007
For those who hadn't previous;y heard of it http://www.nytimes.com/2007/02/28/business/28deal.html?ex=1330318800&en=8337c235afe55149&ei=5088&partner=rssnyt&emc=rss
This is a multi billion $ takeover bid in which the takers over have agreed with an environmental group not to build 8 of 11 new coal fired stations, which will considerably improve short term cash availability - of major importance in takeovers. They don't appear to have made any specific long term guarantees which thry might be stuck with if the bubble burst so it doesn't really affect this issue.
Adrian unless you are denying that Mr Fisher said this surely you should be addressing the suggestion of being a bit silly & not knowing what he is talking about to him. Let me know what he says. I will happily publish it.
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This is a multi billion $ takeover bid in which the takers over have agreed with an environmental group not to build 8 of 11 new coal fired stations, which will considerably improve short term cash availability - of major importance in takeovers. They don't appear to have made any specific long term guarantees which thry might be stuck with if the bubble burst so it doesn't really affect this issue.
Adrian unless you are denying that Mr Fisher said this surely you should be addressing the suggestion of being a bit silly & not knowing what he is talking about to him. Let me know what he says. I will happily publish it.
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