Caldwells Bad Investment Advice

Theo Caldwell, yes the Caldwell Investment Banker,

- Theo Caldwell, president of Caldwell Asset Management, Inc., is an investment advisor in the United States and Canada.

in the National Pest whines about Canada's support for Cuba through both business investment and tourism. He makes spurious claims, unsubstantiated by a single fact, in his opinion piece.

He claims;

"It grates against our national character that Canada continues to do business with Cuba, thereby helping to prop up Fidel Castro's tyrannical regime."

Oh really. Which national character is that? Perhaps it grates the right wing supporters of the Reform/Alliance/Conservative Party, but they are far from the majority of Canadians. In fact one of the ironies is that Alberta, home of the Republican Lite Right Wing in Canada is also the source of the greatest trading partners with Cuba; Sherritt Mining.

As well Albertans travel to Cuba, as Caldwell further whines about claiming that Cubans will go to jail and be tortured if they visit Canada's Delta Hotel Resorts.

The tragic irony of sipping a Cuba Libre beside the pool in a hotel that native Cubans are forbidden from entering under pain of imprisonment, and within walking distance of one of Castro's torture chambers,

And Alberta farmers have long traded cattle and bull semen with current Cuban Leader Raul Castro, who has spent years cross breeding Latin American cattle with Alberta Angus.

He concludes;

"But whether or not the despot has gone on to his reward, passing power to his equally brutal brother Raul, tyranny is tyranny and Canada ought to have nothing to do with it."

Not good investment advice. One would expect better from a capitalist like Caldwell. But with his cold war mentality he is out in the cold on his anti-Cuba strategy.

Cuba Fund Has Biggest-Ever Surge After Castro Resigns (Update3)
Bloomberg
Castro's decision is ``a clear step towards the possibility of the US resuming trade with Cuba,'' Miami-based investor Thomas J. Herzfeld said during a ...
How to profit from Castro's resignation CNNMoney.com
Investing in a Post-Castro Cuba U.S. News & World Report
Equity revolution! Globe and Mail
Stocks with Cuban exposure rise on Castro resignation CBC News
Cuba: The Investment Play Conde Nast Portfolio

The real question here is does Caldwell live by the principles he espouses? Well not really. Sure his Caldwell Canada Mutual Fund (Caldwell Investment Mgmt Ltd.) isn't invested in Sherritt.

But they are invested in Talisman Energy, the big oil company that invested in Sudan known for promoting slavery, torture, etc. making Cuba look like a workers paradise. That offended the national character of Canadians who forced Talisman to divest of its investment in Sudan.

No thanks to Theo Caldwell or his investment fund.

Caldwell focuses on companies with at least $500 million in market capitalization, and his current Caldwell Canada holdings are predominantly mid-cap stocks. He will re-assess the portfolio at least once every quarter and expects the portfolio turnover to be 100% or higher.

He wants to be fully invested at all times and is comfortable having a stock holding of 5% to 10% of the portfolio. In terms of his sell discipline, "once stocks stop going up, we sell," he says.

Caldwell will make significant sector bets. Compared to the S&P/TSX Composite Index benchmark, as of Feb. 15, Caldwell Canada is close to 100% overweight in both the energy and the basic materials sectors, and "considerably" overweight in communications and media.

By comparison, the fund is underweight by more than 80% in financial services. "As an owner of the fund, you will be overweight in the sectors that have been doing the best," he says.

But Caldwell will limit his sector exposure. Overall, his portfolio won't hold more than double the index weight in any sector or 10%, whichever is greater.

He'll also avoid some well known "sin stocks." Along with the strategy of owning "high flyers," the focus is on companies that at their core are "deep down helping people," says Caldwell. "So we don't own alcohol, tobacco or gambling companies. I don't need to own them to make this work."

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More Conservative Media Backlash

Over the Harpocrites reversal on capital punishment of Canadians abroad. This time from the National Post in an editorial. There can be no joy in Harperville this weekend over the continuing criticism from its normally sycophantic media allies. And the fact they keep reminding us of the Harpocrites Hidden Agenda.

Yes, the United States is "a democratic country that supports the rule of law," but it is also one that has come to a different conclusion on the fundamental moral question of whether it is ever permissible for the state to take a human life in the service of criminal justice.

With his announcement, Mr. Day is either (1) falsely suggesting that this difference in outlook isn't worth making a diplomatic fuss about, even though a man's life is at stake; or (2) indicating that this government truly does support capital punishment, notwithstanding the three-decade old ban on the practice that's been in place in our own country (not to mention a 2001 Supreme Court of Canada decision that effectively declared the practice unconstitutional).

Both of these implications reflect poorly on the government. If Stephen Harper's party seeks to overturn our nation's stance on such an important issue, the proper place to do so is Parliament -- not a communique involving a single Canadian monster awaiting a cocktail of pancuronium bromide and potassium chloride.

Ouch.

H/T to more notes from the underground.


See:

Capital Punishment Poll

Harpers Lethal Injection

The Return of Capital Punishment

Say No To Capital Punishment

Pro-Life Pro-Death

Free Kadhar

More Foreign Affairs Incompetency

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Stockwell Day capital-punishment, Canada, Stephen Harper, death penalty, media, National Post, lethal injection, U.S. Supreme Court,

WSJ Fallout

In light of the takeover the WSJ by Rupert Murdoch the ripples are happening even in Canada.

The Bad News:

One of Torstar Corp.'s five controlling families has signalled it will soon begin selling off shares in the tightly held newspaper publishing company in an effort to diversify their investments.

The Thall family, part of the voting trust that steers Canada's largest newspaper by circulation, the Toronto Star, informed the company that it intends to divest "some or all" of its non-voting shares in Torstar Corp.

Of course there is always a silver lining, if Murdoch can't buy the Toronto Star there is always the National Pest.

National Post readers across Atlantic Canada will now have to travel to Halifax if they want to buy an actual print copy of the national newspaper.

Following an annual business review of the paper, Post management decided to limit sales to only one Atlantic Canadian market — the metropolitan area of Halifax — as of the end of July.

This latest move follows another decision, announced in late March, to limit Atlantic Canadian distribution of the Post to provincial capitals only.

At that time, the paper blamed the prohibitive costs of distributing the paper regionally after circulation numbers are factored in. Home delivery to the Atlantic region was also discontinued in 2006.

Similar reasons were cited this time, with the paper also blaming difficulty distributing the Toronto-produced and printed paper in a timely manner.

"As we took a look at our business model, looked at how and where we're distributed across the country — and frankly no newspaper has 100 per cent distribution across the country, it's just too big — we made some hard decisions," said Steven Hastings, National Post vice-president of marketing and reader sales.

The National Pest continues to decline in circulation, and thus withdrawing from being a National Paper to one that is just another Toronto Rag.

Upon its much ballyhooed introduction in October 1998 by media mogul Conrad Black, the National Post offered a bold new, neo-conservative voice in Canada's national newspaper landscape, offering a different take on the news and current affairs as well as a jazzy, colourful look compared to venerable newspaper the Globe and Mail.

However, the Post soon began amassing large debts from the heavy spending incurred during its startup period. Black eventually sold the paper to fellow media scion Izzy Asper and his CanWest Global Communications (in two stages over the course of 2000 and 2001).

In 2001, management of the still-young newspaper imposed severe budget cuts, laid off a significant percentage of its staff and nixed several sections, with a plummet in circulation the ultimate result.

Wow that was some business plan. Typical of the right, overwhelmed by all their pompous social conservative blathergab when it comes to good old fashioned capitalism they are utter failures, bleeding cash and blue bloods.

SEE:

Liberal Or liberal Media

Lord Black No Robin Hood

Conrad Black

Criminal Capitalism


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Conrad Black, Lord Black, Barbara Amiel, crime, fraud, Canada, Chicago, Hollinger
racketeering, Radler, newspapers.
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media, Canada, media-bias, liberal-media, liberal-left-media, Globe&Mail, Liberal, Conservative, Parties, politics, Canada, liberal, conservative, leftwing, rightwing

Comeuppance

The irony here is that Lord Black of Crossharbour left Canada to buy his Lordship from the Mother Country, because he thought we were too liberal for his pro-American conservative values.

Say it loud: Lord Black is too proud

Now that democracy of the common man; America, has given the Lord his comeuppance.

Conrad Black found guilty of obstruction and could face decades in prison

Just like his Her0 that other Crime Lord from Chicago.




Also See:

Conrad Black

Criminal Capitalism: Black Lord Dodges Tax Man

Criminal Capitalism: Black & Radler,Thick as Thieves

Criminal Capitalism: Lord Black Fugitive

Criminal Capitalism: Black gets his comeuppance

Criminal Capitalism: Hollinger's Black Eye

Criminal Capitalism: Black Out


Find blog posts, photos, events and more off-site about:
Conrad Black, crime, fraud, racketeering, Al Capone, Hollinger, Radler, Chicago, Lord Black, newspapers

A Captain of Industry

I see my post here has caused some comments from the rightwhingnuts. It is amazing to see the folks who line up behind Lord Black of Cumuppance Harbour, a would be aristocrat and ruthless tyrant over his press empire. Folks like Sun writer and right wing bon vivant Peter Worthington who have been bemoaning his trial as class war.

They all praise Lord Black for being a hard working Captain of Industry. Except they seem to over look that he sunk his ship, leaving the women and children (shareholders, the little people, etc.) to fend for themselves as he and his wife made off like bandits.

Those on the right love their aristocrats. So much so that they create their own little family compacts. Damn shame about the end of feudalism.

Also See:


Conrad Black

Criminal Capitalism

Find blog posts, photos, events and more off-site about:
Conrad Black, Lord Black, Barbara Amiel, crime, fraud, Canada, Chicago, Hollinger
racketeering, Radler, newspapers.

Why Not?

‘You can’t convict Lord Black for being rich’ Why not. He got his ill gotten wealth like all other wealthy folks from theft or inheritance, which is just theft from long ago. And his hero is that other Chicagoan famous for being wealthy through crime; Al Capone

Also See:


Conrad Black

Criminal Capitalism

Find blog posts, photos, events and more off-site about:
Conrad Black, Lord Black, Barbara Amiel, crime, fraud, Canada, Chicago, Hollinger
racketeering, Radler, newspapers.

Lord Black No Robin Hood

Black accused of stealing, 'plain and simple'

From the little people; shareholders. Those whom Lady Black dismisses with the aplomb of Marie Antoinette.

The prosecution painted Conrad Black and his co-accused as fraudsters who systematically committed theft from Hollinger International shareholders.

The accused took a "slice of their company's profits" and "created a phony paper trail to make their actions appear legitimate

"We are here because five men systematically stole over US$60 million from the shareholders of Hollinger International."

"Conrad Black was paying himself not to compete with himself. It's ridiculous."

Also See:


Conrad Black

Criminal Capitalism

Find blog posts, photos, events and more off-site about:
Conrad Black, Lord Black, Barbara Amiel, crime, fraud, Canada, Chicago, Hollinger
racketeering, Radler, newspapers.

If Wishes Were Horses

If wishes were horses; Odds are Black will go free

It seems the Black Lord has a cheering section in Canada, of course it comes from the right. Surprise, surprise. Or perhaps it is less sympathy for him than for Lady MacBeth his wife and outspoken fellow traveler of the right.

Also See:


Conrad Black

Criminal Capitalism


Find blog posts, photos, events and more off-site about:
Conrad Black, Lord Black, Barbara Amiel, crime, fraud, Canada, Chicago, Hollinger
racketeering, Radler, newspapers.

Not His Peers

Former Canadian, remember he renounced his Canadian citizenship, Conrad Black, Lord Black of Crossharbour, will be judged in the United States by the working class. Which belies the old adage; of being judged by your peers.

• Video: Jury selection at the Black trial

Since he has a peerage, I guess they could have held court in the House of Lords. But then they would have acquitted him being good old boys and all.

The mask of invulnerability has begun to slip. For months, Conrad Black has scatterbombed his assailants with bombastic bravado and patronising put-downs. But as he arrived in Chicago to face a criminal trial which could consign him to dotage in jail, the scandal-hit media mogul looked tired, pale and faintly fearful.

The former Telegraph owner and friend of Lady Thatcher faces charges of racketeering, fraud, money laundering, tax evasion and obstruction of justice. With his bulky frame leaning on a courtroom table, he has spent two days listening to childcare niggles, health woes and financial hardships which jurors need settling in order to spend three months on a $40-a-day (£21) stipend sitting in judgment over him.

It is a window on to the life of ordinary folk which Black has never been near. He admits as such, complaining that his Rolls-Royce lifestyle of vintage wine, tuxedos and multiple homes is key to his downfall: "Since biblical times, and probably before, the wealthy have been envied and condemned."

But instead of throwing himself on the mercy of the Queen and her Lords, Lord Black high tailed back to the country he despises, that of his birth, the one he renounced his citizenship of.

And promptly hired crackerjack Canadian lawyer Eddie Greenspan to represent him in the United States. Which didn't go over well last week. Judge Is Not Amused by Conrad’s Black’s Lawyer

And there is further irony here, for the Black Lord is fan of that other famous racketeering Chicagoan; Al Capone

Jeffrey Cramer, the young prosecutor who is expected to deliver the government's opening argument today, even looks like Eliot Ness, who put Al Capone in jail for 11 years for tax evasion.

So perhaps to truly be judged by his peers Lord Black would not appear before his fellow British Lords but the Lords of Crime, like Capone, who like Black were busted on Rico charges.



Also See:

Conrad Black

Criminal Capitalism: Black Lord Dodges Tax Man

Criminal Capitalism: Black & Radler,Thick as Thieves

Criminal Capitalism: Lord Black Fugitive

Criminal Capitalism: Black gets his comeuppance

Criminal Capitalism: Hollinger's Black Eye

Criminal Capitalism: Black Out

Find blog posts, photos, events and more off-site about:
Conrad Black, crime, fraud, racketeering, Al Capone, Hollinger, Radler, Chicago, Lord Black, newspapers