If the primary motivation of the rich is greed, then the OPEC member states are no exception. Now that oil prices have begun to drop, so has talk of cutting supply.
"The market is oversupplied by at least 1 million barrels a day. If OPEC would like to remove this additional oil out of the market, then OPEC has to cut some production," OPEC governor Mohammad Ali Khatibi told Dow Jones
That would mean that, at the most basic level, oil prices might never drop much from current levels.
Since China has grown so fast over the last decade, that the definition of "recession" may be different than it is in the US or EU.
China’s growth slowed to 10.1% in the last quarter. That means the economy has been losing its acceleration for more than a year.
This week was a huge week as far as getting to see what the large funds and key money managers or investment gurus were putting into their portfolios. We compiled lists and lists of investment holdings from the great investors. Out of these came investment holdings from Warren Buffett and Berkshire Hathaway (NYSE: BRK-A; BRK-B), Carl Icahn and Icahn Enterprises, L.P. (NYSE: IEP), Bill Gates and his Cascade investment vehicle, Nelson Peltz and Trian, and finally Ken Heebner’s CGM FOCUS FUND (CGMFX). All of these billionaires or gurus have been broken down individually below.
| Today’s top tickerspy Indexes | |
| Home Furnishing R... | +14.1% |
| Ethanol and Biofu... | +5.1% |
| Electronics Retai... | +2.1% |
| Diabetes Stocks | +2.0% |
| Memory Chip Stock... | +2.0% |
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