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New Global Transport Composite Index EXM

73%

-9.63% in 324 days New Global Transport Composite Index   The table at my website link below presents 45 companies with market caps of at least $200M from each of the five new ETF Innovators global transport indexes, including a database of about 300 companies worldwide.   http://www.etfinnovators.com/2009/01/new-global-transport-com...   <> The Transport Composite Index is a dynamic, semi-active index with quarterly rebalancing which consists of 45 companies on an equal weight basis from each of the five global transport indexes listed below with the indicated number ... Continue reading »

A Short Transport ETF Strategy for the Global Slowdown EXM

73%

+39.91% in 90 days (closed on 01/17/09) A Short Transport ETF Strategy for the Global Slowdown <> Given the global economic slowdown, lower commodity prices, and cool-down in former red-hot grow markets such as China; the accompanying table presents statistics and an overview of a global transport short ETF strategy for passenger airlines, auto makers, maritime, and trucking companies. While I am still bullish on the prospects for railroads as a long investment idea and a hedge to these short transport ETF ideas, they will also suffer to some degree depending on the length and depth of the s... Continue reading »

Dry bulk shippers rule! EXM

74%

-38.05% in 261 days (closed on 06/13/08) Rates or up and there's not enough of them around and won't be for at least another 4-5 years.  Continue reading »

Dry bulk shippers rule! EXM

74%

-38.05% in 261 days (closed on 06/13/08) Rates or up and there's not enough of them around and won't be for at least another 4-5 years.  Continue reading »

Dry bulk shippers rule! EXM

74%

-38.05% in 261 days (closed on 06/13/08) Rates or up and there's not enough of them around and won't be for at least another 4-5 years.  Continue reading »

From the Blogosphere

Excel Exceeds Earnings Estimates – Analyst Blog

38%

Excel Maritime Carriers Ltd’s (EXM) third-quarter earnings of 81 cents per share were substantially ahead of the Zacks Consensus Estimate of 3 cents. Last year, the company reported earnings of $2.81.  Revenue from operations amounted to $174.4 million as compared to $231.6 million last year. Decline in revenues was brought about by an amortization charge of $76.4 million relating to the acquisition of Quintana as well as a decline in voyage revenues.  Operating expenses increased 1.6% year-over-year to $90.9 million, mainly due to an increase in general administrative expenses.  Adjusted... Continue reading »

Fund Performance Period 10

34%

As a reminder, if you are interested in this type of fund as a worthwhile consideration for future investment, please consider reading why this blog exists. [Jan 7, 2008: Reader Pledges Toward Mutual Fund Launch] [May 26, 2008: Frequently Asked Questions] Our story in Barron's [A New Kind of Fund Manager] Or if you are just here for daily market / economic commentary or stock trades to follow on your own, consider supporting the blog via donation (paypal buttons can be found on the upper right margin of the blog) For those who read the content of the website via email or RSS reader, you can com... Continue reading »

Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 8

34%

Year 3, Week 8 Major Position Changes <>To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 67.4% (v 73.9% last week) 24 long bias: 20.5% (v 16.5% last week) 7 short bias: 12.1% (v 9.6% last week) 31 positions (vs 30 last week) Weekly thoughts Some drama finally returned to the markets, as we've encountered rough waters since Fed decision afternoon. Apparently, even the slightest of hints that the punch bowl of liquidity will be taken away on some far away day was enough to make speculators worry. Considering many are only buying... Continue reading »

Bookkeeping: Closing Excel Maritime Carriers (EXM)

34%

I am closing out a tiny position (less than 0.1% exposure) in Excel Maritime Carriers (EXM). I am not at all bullish on the sector, but much like housing I wanted to have exposure to something that reflects Kool Aid. Basically the shipping stocks are a proxy on global growth - which there are other ways to play, in the pure commodities. With a bevy of new ships coming online, plus many unused one sitting stashed in the seas off Singapore there is really not a great case to be made here, unless you are a daytrader. The commodity stocks have reacted far better than the shipping stocks in... Continue reading »

Bloomberg: Shipping Rates Seen Falling 50% on China, Fleet Size

34%

As the Baltic Dry Index (a global shipping "price" mechanism) scuffles back to early May levels despite a "recovering global economy" one must ask what are the drivers? We were raising the question nearly a month ago [Aug 7, 2009: Baltic Dry Index has Worst Week Since October 2008 - Blame China. Prescursor to Slowing Loan Growth?] but as always with the stock markets news does not matter until it matters - hence the cheap headlines of "US markets down on China" today are comical, considering the Chinese market has been down many days this month and it did not matter all those days. But ... Continue reading »

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