MINDING THE LSE’S BUSINESS

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Articles by: LUCIAN MIERS

EPIC
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Ferrexpo Trumps Bitcoin and Tesla combined in the MAGA rally

Two predictable beneficiaries of the Trump victory were Bitcoin and Tesla, up 8% and 14% respectively. A third, which was certainly not on my radar was, somewhat counter-intuitively, shares in London-listed, Ukrainian-based, iron ore pellet producer Ferrexpo (FXPO) which trumped both of the above with a stonking 38% gain before closing a mere 27% higher. Quite a few people regarded Ferrexpo as vulnerable to yesterday’s outcome on the basis that a Trump win is bad for Ukraine and what’s bad for Ukraine must be bad for Ferrexpo. But, in hindsight, the positive reaction makes sense.
  • By Lucian Miers
  • 2024-11-08 14:43:50
EPIC
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The Widowmaker is Back, Head for Greggs

By far the biggest carry trade is USD/JPY. It’s about $4 trillion worldwide (roughly the size of the German economy). How it works is really quite simple. You borrow yen at 0% and use it to buy dollars (yielding 4.5% in money markets). Oh and you lever up ten times for a juicy 45% yield. Maybe you park your gains in NASDAQ, sit back and relax. The beauty is that the yen (yielding 0%) is bound to depreciate against the dollar (yielding 4.5%), so you get a capital gain thrown in too when it’s time to return the yen.
  • By Lucian Miers
  • 2024-08-06 13:20:32
EPIC TUI
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Buy TUI – it is out of intensive care

I have written about Tui (TUI) in the past as a good shorting opportunity and so it has proved. The company came within a whisker of going the way of Thomas Cook during the pandemic and had to resort to three rescue rights issues and a German State bailout to survive. The share price tanked and is still way below its pre-Covid levels. Things look a lot rosier now, however.
  • By Lucian Miers
  • 2024-06-22 09:27:37
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