Monday Morning Coffee & Preview - Earnings Upside Continues (IBM, CAT, LVS)
The weak dollar trade is back on today, as the USD is down against most major currencies. This has pushed gold, copper, and other hard commodities up to or near their highest levels of the month. Days like this are generally good for the Secular Trends Portfolio, and in early morning trade the model has [...]
Is a Consensus Forming Around Las Vegas Sands’ Sustainability? (LVS)
Today we officially pass the one month mark since Las Vegas Sands announced their utterly dilutive stock and warrant offering in an attempt to stave off bankruptcy. Considering the size of the deal and the audacity associated with bypassing the shareholders’ ability to have a say in the matter, investors should be pleased to see [...]
Macau GDP Weakens in Q3; Visa Restrictions to be Lifted? (LVS)
The Statistics and Census Service (DSEC) today released 3rd quarter GDP for the Macau Special Administrative Region of China. Growth slowed sharply, coming in at just 11.3% for the 3rd quarter, after posting gains of 32% and 22% in the first two quarters, respectively.
Gross Casino Revenue grew 27.6% after registering 47.6% in the 2nd quarter. [...]
Las Vegas Sands Seeking Club Loan, Buffer Cash (LVS)
Reuters ran a story this morning with sources stating that Goldman Sachs (GS) is in talks to put together a syndicate loan for Las Vegas Sands subsidiary Venetian Macau Ltd., to the tune of about $1 billion. According to the story, the loan would be based on the lots 5 & 6 on the Cotai [...]
Las Vegas Sands - Thoughts on 2009 Sustainability (LVS)
With the final pricing news out Friday from Las Vegas Sands’ (LVS) massive preferred stock, common stock, and warrant offering, I finally feel like there’s enough “accurate” numbers available to determine whether the casino & resort operator can make it through 2009.
Big prizes certainly await shareholders if this modern-day Spruce Goose can make it to [...]
Las Vegas Sands Conducts Massive Offering; Should Raise $1.5B (LVS)
In one of most dilutive offerings we’ve seen in some time, casino & resort operator Las Vegas Sands today announced a major restructuring effort aimed at staving off the breaching of key loan covenants in the 4th quarter.
The massive offering includes the issuance of 181.8 million shares of common stock, and a package including 5.2 [...]
Secular Trends Analysis (BTU, FCX, POT, CAT, LVS)
I’m still working on the best format to submit my thoughts and current areas of study relating to the Secular Trends Model Portfolio. Several readers have asked some good questions relating to the investment strategy and current equity weightings. First and foremost, the model portfolio is 100% invested in equities not because I recommend that [...]
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Pragmatic commentary on U.S. & global investing, demographics & secular trends, and the valuation of anything worth valuing. Objective, unbiased research; We believe in minimal design, zero gimmicks, and maximum results.
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Secular Trends Holdings
- Secular Trends Portfolio Real-Time Positions
- The Fuel That Fed the Subprime Meltdown (Written in September 2007)
- Performance Studies on the DJIA & Fundamental Value Stocks (11/22/08)
- Las Vegas Sands - Are They Sustainable in 2009? (Published 11/15/08)
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