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whiteowl
#4631 Posted : Saturday, December 12, 2015 11:01:28 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
hisah wrote:
SEC rule wipes billions of undeveloped reserves off the books

Quote:
Many US oil companies operating in shale play will have to erase millions of barrels from the reserves on their books in the next few months as they report 2015 figures.

A 2009 accounting change by the Securities and Exchange Commission (SEC) allowed companies to claim reserves from wells that would not be drilled for years. This rule, however, stipulated that the undrilled wells must be drilled within five years of reporting the reserves and be profitable at a price determined by the SEC formula.

Independent oil company Chesapeake Energy will lose 45% of its inventory, or 1.1 billion barrels of oil, while Denver’s Bill Barrett will lose 40% and Oasis Petroleum 33%.


Then the bankruptcy galore next year. If you think oil prices have crashed you haven't seen anything yet! Add the USD Fed rate hike and many firms will be going to the ICU!


This oil bear is the only thing holding up the Kenya Shilling. When the trend reverses, we'll be fried.
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lochaz-index
#4632 Posted : Saturday, December 12, 2015 12:12:08 PM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
http://www.bloomberg.com...sting-whitman-pioneered

Third Avenue mutual fund just pulled a BNP Paribas(in 2008) move. History does indeed repeat itself.

Junk bond turmoil is getting entertaining by the day.
The main purpose of the stock market is to make fools of as many people as possible.
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Cde Monomotapa
#4633 Posted : Sunday, December 13, 2015 3:39:37 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
NBK on Xinhua! Mashallah... wameumbika!

Kenyan think tank hails yuan's inclusion into currency club

http://news.xinhuanet.co...15-12/13/c_134911557.htm
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Cde Monomotapa
#4634 Posted : Sunday, December 13, 2015 7:14:36 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Bringing Islamic banking to Kenya

Quote:
National Bank of Kenya is driving the Islamic banking sector in the country, according to Munir Ahmed CEO at National Bank of Kenya.
http://www.cpifinancial....d&utm_medium=twitter
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hisah
#4635 Posted : Monday, December 14, 2015 6:45:08 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
lochaz-index wrote:
http://www.bloomberg.com/news/articles/2015-12-12/third-avenue-stumbles-on-distress-investing-whitman-pioneered

Third Avenue mutual fund just pulled a BNP Paribas(in 2008) move. History does indeed repeat itself.

Junk bond turmoil is getting entertaining by the day.

The junk bond market chaos is just getting started! By next year the carnage will be awesome... Let's see how that liquidity destroying event will see markets maintain their current lofty levels. Willey Coyote has walked off the cliff just that he hasn't looked down yet...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Cde Monomotapa
#4636 Posted : Monday, December 14, 2015 7:41:45 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
With great power comes great responsibility.

What a time for Big Sino. Making of Asia-Euro? Consolidating the producer ccys while free floating the consumption and savings ccy. Extra-ord times www.theedgemarkets.com/m...dex#.Vm4ndd0nt3k.twitter
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  | | Edit by user: Monday, December 14, 2015 7:43 AM | Reason: Not specified
lochaz-index
#4637 Posted : Monday, December 14, 2015 9:41:24 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
hisah wrote:
lochaz-index wrote:
http://www.bloomberg.com/news/articles/2015-12-12/third-avenue-stumbles-on-distress-investing-whitman-pioneered

Third Avenue mutual fund just pulled a BNP Paribas(in 2008) move. History does indeed repeat itself.

Junk bond turmoil is getting entertaining by the day.

The junk bond market chaos is just getting started! By next year the carnage will be awesome... Let's see how that liquidity destroying event will see markets maintain their current lofty levels. Willey Coyote has walked off the cliff just that he hasn't looked down yet...


My word. Casualties are piling in. Stone lion capital just joined the party by locking out investor redemptions. Liquidity is evaporating at an exponential rate. Chaos is brewing and capital will be wiped out ruthlessly in this financial armageddon.

Downgrades and defaults have been the choice words with reference to this market...... Bankruptcies will soon follow in swift fashion.
The main purpose of the stock market is to make fools of as many people as possible.
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lochaz-index
#4638 Posted : Monday, December 14, 2015 9:43:58 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
Cde Monomotapa wrote:
With great power comes great responsibility.

What a time for Big Sino. Making of Asia-Euro? Consolidating the producer ccys while free floating the consumption and savings ccy. Extra-ord times www.theedgemarkets.com/m...dex#.Vm4ndd0nt3k.twitter


Smart Sino. A roundabout way of preparing to depeg from the dollar.
The main purpose of the stock market is to make fools of as many people as possible.
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DBLyon
#4639 Posted : Tuesday, December 15, 2015 1:22:44 PM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
lochaz-index wrote:
hisah wrote:
lochaz-index wrote:
http://www.bloomberg.com/news/articles/2015-12-12/third-avenue-stumbles-on-distress-investing-whitman-pioneered

Third Avenue mutual fund just pulled a BNP Paribas(in 2008) move. History does indeed repeat itself.

Junk bond turmoil is getting entertaining by the day.

The junk bond market chaos is just getting started! By next year the carnage will be awesome... Let's see how that liquidity destroying event will see markets maintain their current lofty levels. Willey Coyote has walked off the cliff just that he hasn't looked down yet...


My word. Casualties are piling in. Stone lion capital just joined the party by locking out investor redemptions. Liquidity is evaporating at an exponential rate. Chaos is brewing and capital will be wiped out ruthlessly in this financial armageddon.

Downgrades and defaults have been the choice words with reference to this market...... Bankruptcies will soon follow in swift fashion.


Some truth to this 7-year cycle thing? what's the name of that theory that was posted somewhere on Wazua recently? Some doomsday thing...age is catching up...I cannot for the life of me remember that doomsday prophet's name.
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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DBLyon
#4640 Posted : Tuesday, December 15, 2015 1:26:20 PM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
DBLyon wrote:
lochaz-index wrote:
hisah wrote:
lochaz-index wrote:
http://www.bloomberg.com/news/articles/2015-12-12/third-avenue-stumbles-on-distress-investing-whitman-pioneered

Third Avenue mutual fund just pulled a BNP Paribas(in 2008) move. History does indeed repeat itself.

Junk bond turmoil is getting entertaining by the day.

The junk bond market chaos is just getting started! By next year the carnage will be awesome... Let's see how that liquidity destroying event will see markets maintain their current lofty levels. Willey Coyote has walked off the cliff just that he hasn't looked down yet...


My word. Casualties are piling in. Stone lion capital just joined the party by locking out investor redemptions. Liquidity is evaporating at an exponential rate. Chaos is brewing and capital will be wiped out ruthlessly in this financial armageddon.

Downgrades and defaults have been the choice words with reference to this market...... Bankruptcies will soon follow in swift fashion.


Some truth to this 7-year cycle thing? what's the name of that theory that was posted somewhere on Wazua recently? Some doomsday thing...age is catching up...I cannot for the life of me remember that doomsday prophet's name.


Shemitah, it is. Incidentally, the guy, Jeff Berwick, is selling a 'Survive Shemitah' package. Laughing out loudly
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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