Cheech And Chong Go To The New York Stock Exchange

There is still, to the best of our knowledge, no such thing as a pot hedge fund. But soon there will be pot stocks, which means that a pot hedge fund cannot be far off. To say nothing of pot analysts. And pot ETFs. And pot mutual funds.
The U.S. Securities and Exchange Commission has allowed a share registration to proceed for a company whose business model includes cultivation and sale of marijuana, which are both illegal under federal law, though legal under some state laws.

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JR Kyushu set for stock exchange listing

JAPAN's Ministry of Land, Infrastructure, Transport and Tourism (MILT) announced on January 27 that Kyushu Railway Company (JR Kyushu) will be listed on the Tokyo stock exchange in the 2016 financial year, becoming the fourth of the former Japanese National Railways (JNR) companies to do so.

The government will submit a bill to the House of Representatives in the current legislative session to revise the current law on JR companies, exempting JR Kyushu from the requirement for the transport minister to approve all appointments to its board. This would also require JR Kyushu to commit to retaining its current 2122km network.
JR Kyushu made a loss of Yen 15.6bn ($US 132m) on its railway operations in 2013, but MILT deems the company suitable for flotation because of its property and hotel activities. Indeed, the company expects to generate more than 60% of its total revenue from non-rail activities by next year.

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Maruti scales record high

Volatility continued as the key benchmark indices trimmed losses in morning trade soon after extending losses in early trade. The market breadth indicating the overall health of the market turned negative from positive. The barometer index, the S&P BSE Sensex was currently down 56.83 points or 0.19% at 29,514.21.
Software stocks edged higher on renewed buying. Maruti Suzuki India edged higher, with the stock extending gains registered during the previous trading session triggered by the company's strong Q3 December 2014 results.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 953.50 crore yesterday, 27 January 2015, as per provisional data.

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Forex - UK Preview: due 2 Feb, 09:30GMT - Jan manufacturing PMI survey

We look for a small increase in the manufacturing PMI survey to 53 in January following its fall to 52.5 in December. This will keep the survey far below the levels seen in January last year and is also weaker than the last year's average of 54.8. Weaker economic activity abroad is certainly having a negative impact on the sector and Markit stated with the December survey 'that the main weak spot remains exports, with overseas new order inflows stagnating amid weaker economic growth in key markets and the ongoing lethargy of the euro area'. Domestic demand is however still faring rather well and it is also positive to see employment continue to edge higher.

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Bought Svenska Cellulosa - A Swedish Personal Care And Tissue Company

This is an excerpt from a blog published earlier today. Stocks, Bonds & Politics: Initiated Positions in Two Swedish Companies-Bought: 50 Swedbank at $23.25 and 50 SCA at $22.27/Sold 54 LXP at $11.44 Vanguard Roth IRA-Transitioning Position to Fidelity Roth IRA
Back in the 1970s and 1980s, Japanese investors were using their weak currency to buy overpriced assets in the United States. Back in the mid-1970s, one USD would at times buy more than 300 yen and usually somewhere between 200 to 250 yen between 1980 through 1985. It really did not take much reflection to disagree with that approach. The apex of that trend was reached in 1990 with the purchase of the Pebble Beach golf course for over $800 million by Minoru Isutanai who then sold the property for a $340 million loss within two years.

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Why food prices won’t fall as fast as gas prices

What goes up invariably comes down, but not always as quickly as we might like.
Americans who are benefiting from lower gas prices could see some food prices fall, especially dairy and meat products, but the rate of decline will be at a far-slower pace than the recent plunge in the price of gasoline, commodity traders and insiders say.
Just six months ago, oil prices were heading close to $100 a barrel, partially as a result of unrest in Iraq and fears of supply interruptions. Now, as the U.S. may supersede Saudi Arabia as the world’s biggest oil producer, concerns over world economic growth (outside of the U.S. economy, which actually appears to be breaking out of a sub-par recovery) oil prices have plunged. West Texas Intermediate crude oil prices for the week ending Jan. 26, 2015, fell to $45.15 a barrel, down 53% from a year ago.

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FOREX: Cyprus firms lose €43m, Saxo Bank sheds $107m

Demetra Kaloyirou, Chairman of the Cyprus Securities and Exchange Commission that regulates more than 180 investment firms and fund managers, said that 24 companies had lost an accumulated 42.5 mln euros from their client trading accounts.
She added that of the vast majority, or 158 approved investment firms, have not been affected.
“The remaining CIFs said that they experienced some losses, which either do not affect their capital adequacy or are insignificant,” she said.
“The affected investment firms maintain equity and capital adequacy ratio above the minimum limit, set by the law, which is 9%”, Kaloyirou noted.
Meanwhile, Denmark’s retail forex broker Saxo Bank, that also has a Cyprus presence, reports that due mainly to negative client balances on which it may not be able to collect, the bank may be forced to take a loss of up to DKK 700 mln, or about $107 mln. However, even if no collections take place and it takes the maximum possible loss, it will remain capitalised well in excess of regulatory requirements. 

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