Archive for 'NASDAQ'

Having the right mindset is crucial in any kind of undertaking. And market trading is just one of the many examples of career paths where having a clear and focus state of mind can make the difference between disaster and success. Market trading is a risky business and not knowing more about the ins and outs makes success even more difficult to attain. But with the right attitude you get ahead. But what are the right attitudes in trading the market?

One of the more important tips in market trading is to keep your emotions at bay. There’s no need to be emotional in a business where facts and numbers are all that matters. For example, you need not invest on stocks or trade stocks based on personal estimations. You based your decisions on known facts and calculated projections. You don’t decide because you hope the stocks will improve or you hope your investment will be a good one. Stick with the facts.

Some will disagree that instincts play a good deal in making calls in market trading. To a point it is indeed accurate. Nonetheless what will aid you in making the right calls are the instincts that you developed thru your time and experience in the market. But instincts alone won’t make you a great and successful trader .

If you’ve been experiencing a streak of good luck, it’d be a great thing to be taught how to slow down since it’s not actually a smart idea to keep counting on your instincts or good luck. You can become so full of your self that you started to expand and trade on higher payoffs. This naturally is an exceedingly commonplace mistake and I am letting you know now you need to avoid these types of calls. Organize and make your own set of trading rules to observe. This will permit you to step back if you find yourself in a pool of good luck and a lot of successes.

Also look or cook your own recipe for success. Sure, a sound financial and educational base is needed to make a big start. Learning from others is imperative but relying on them is a mistake. And eventually, you need to accept loss. Remember that the best traders learn to lose and learn a thoughts become actions, actions become habits and habits give you the results. lot when they loss. Trading pushes you to your limit and capabilities.

Being pushed hard, traders need to maintain focus. A focus mind comes only with a clear head. The best traders think like a winner. Thinking like a winner turns you into a winner. Identify the thoughts that you need to reinforce and focus on them constantly.

Even with pressures, you still need to go easy on yourself. There are traders who tend to be tough on themselves. A positive self-criticism is different from slapping your face too hard whenever you make mistakes. Learn from you mistakes and then let them go. Self-inflicted psychological damage is difficult to overcome, so it is best to avoid it totally.

Trading is a troublesome and significant business. But never be too harsh on yourself. Relax. The best traders still know how to smile, they even giggle on themselves. Having a good time and relaxing your mind also keep your consciousness clear and centered. Having the proper trading attitude can offer you immense results and at the exact same time have a great time while you earn your greenbacks. Definitely, you merit it.

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Zacks Investment Research: Free Trial. Buy the BEST stocks, Sell the Worst Stocks, Stock Screens and more!

PG&E Corporation (NYSE: PCG) is recommending that shareholders reject an unsolicited “mini-tender offer” by TRC Capital Corporation (TRC) to purchase less than 0.628 percent (up to 2.5 million shares) of the outstanding PG&E Corporation common stock at a below-market price of $40.25 per share. According to an advisory by the U.S. Securities and Exchange Commission (SEC): “‘Mini-tender’ offers – tender offers for less than five percent of a company’s stock – have been increasingly used to catch investors off guard. Many investors who hear about mini-tender offers surrender their securities without investigating the offer, assuming that the price offered includes the premium usually present in larger, traditional tender offers.” The SEC’s advisory is available at

As stated in TRC’s offer documentation, the offer price is 3.96 percent less than the closing price on the New York Stock Exchange (NYSE) on July 19, 2011, the day before the offer was made.  Mini-tender offers, such as this one by TRC, do not give investors the same level of protection afforded by tender offers for at least 5% of a company’s outstanding shares. For example, in making this offer, TRC is not required to file disclosure and other offer documents with the SEC or adhere to additional procedures mandated by U.S. securities laws.

PG&E Corporation does not endorse TRC’s unsolicited mini-tender offer and recommends that shareholders not tender their shares in response. PG&E Corporation is not associated with TRC, this mini-tender offer or the offer documentation.  PG&E Corporation urges investors to obtain current market quotes for their shares of common stock.

PG&E Corporation encourages stockbrokers and dealers as well as other market participants to review the SEC’s and the NYSE’s recommendations on mini-tender offers. These recommendations are available at and in the Information Memo Number 01-27, issued by the NYSE on Sept. 28, 2001, which can be found under the “Regulation — NYSE — Rules & Interpretations — Information Memos” tab at

PG&E Corporation shareholders who have already tendered shares in the offer are advised that they may withdraw their shares as described in TRC’s offer documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m., New York City time, on Thursday, August 18, 2011.

About PG&E Corporation

PG&E Corporation (NYSE: PCG) is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California’s largest investor-owned utility. PG&E serves more than 15 million Californians throughout a 70,000 square-mile service area in northern and central California. For more information, visit the Web site at

Zacks Enters Long Term Partnership With WRDS

The Wharton School of the University of Pennsylvania and Zacks Investment Research, Inc. a leading provider of research, historical market data and workflow solutions announced today that Wharton Research Data Services (WRDS) will now carry the Zacks data on its platform. The select datasets consist of earnings, sales estimates and surprises, pre-announcements, analyst ratings, and target prices for all listed and non-listed issues. WRDS is the leading, comprehensive, internet-based data research service used by academic, government, and corporate firms.  The Zacks database will be hosted on the powerful WRDS Cloud, optimized to effectively meet research needs for the extraction and analysis of financial and economic data.

“Zacks is proud and honored to commence this long-term partnership with WRDS,” said Ausra Di Raimondo, EVP of Academic/Non-Profit data services at Zacks. “This type of data plays a critical role in in-depth academic equity trading research and corporate analytics and back-testing strategies. We are excited to be recognized by WRDS as a valuable data partner in fulfilling its mission to continue to be the leading business intelligence tool for a global research community.”

Robert Zarazowski, WRDS Senior Director, added, “”WRDS is delighted to announce this partnership with Zacks Investment Research. Their data enhances the depth and breadth of analyst databases available through WRDS, and allows us to complement our existing products to meet the needs of academic researchers and commercial clients. The value of Zacks data have been proven over the years, as research work using Zacks’ data have been published in both premier academic journals and widely circulated practitioner oriented publications.”

About WRDS

Wharton Research Data Services (WRDS) is the leading, comprehensive, internet-based data research service used by academic, government, non-profit institutions, and corporate firms. WRDS provides the user with one location to access over 200 terabytes of data across multiple disciplines including Finance, Marketing, and Economics. WRDS provides flexible data delivery options including a powerful web query method that reduces research time.  WRDS provides flexible data delivery options including a simple but powerful web query method, and provides Researchers with the ability to reduce their research time and execute strategy development on the powerful WRDS Cloud.  Developed in 1993 to support faculty research at The Wharton School of the University of Pennsylvania, WRDS has since evolved to become the standard tool for a global research community of 30,000 users at over 300 institutions in 27 countries.

About The Wharton School

The Wharton School of the University of Pennsylvania — founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The School has 5,000 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 annual participants in executive education programs; and an alumni network of 88,000 graduates.

About Zacks

Zacks Investment Research, based in Chicago, Ill., has been a leading provider of research, market data, and quantitative models to institutional investment management firms in the US and Canada for over 30 years. Recognized for quality, consistency and reliability, Zacks provides institutional and individual investors with the analytical tools and financial information necessary to the success of their investment process. Founded in 1978, Zacks’ early contribution to investment analysis was the discovery that earnings per share estimate revisions are the most powerful force affecting stock prices. This discovery is built into the Zacks Rank proprietary methodology for predicting stock price performance. The Zacks Rank has produced average annual returns in excess of 28% since 1988. The premier source of analysts’ earnings forecasts, today Zacks produces data feeds for estimates, ratings, earnings report data, fundamental data, and institutional holdings for US and Canadian traded equities, as well as investment research reports and research software tools for investors. For more Zacks expertise, look for Dr. Zacks “The Handbook of Equity Market Anomalies: Translating Market Inefficiencies into Effective Investment Strategies” which will be in bookstores on October 4th, 2011. To learn more about performance information, please go to

Wharton Research Data Services (WRDS) Contact:
Robin Gold – 877-438-9737,

Zacks Contact:
Ausra Di Raimondo – (312) 265-9214,

Walt Disney Company (NYSE: DIS) Gets Top Stock Pick

Walt Disney Company (NYSE: DIS) Gets Top Stock Pick-Image via CrunchBase

Walt Disney Company (NYSE: DIS) ($39) has been picked by Standard & Poor’s Equity Research as its Focus Stock of the Week.  DIS carries S&P’s highest investment recommendation of 5-STARS, or Strong Buy.

“Our investment opinion reflects expectations that the company will be a major beneficiary of a continued macroeconomic rebound, as well as improving business fundamentals across virtually all of its globally diversified core businesses,” said Tuna Amobi, Media & Entertainment Equity Analyst at Standard & Poor’s Equity Research.  “Over the years, we believe Disney has refined an innovative strategy, predicated on a virtuous cycle of content creation that has spawned a veritable stable of franchises such as Mickey Mouse, Disney Princess, Toy Story, Pirates of the Caribbean, Cars and others for repeatable exploitation across multiple platforms.”

Amobi believes that Disney has remained at the forefront of embracing newer digital outlets, while fomenting further shifts in traditional distribution windows through increased content exploitation across emerging platforms, and credits a strong management team led by CEO Robert Iger.  Also reflecting Disney’s strategic priorities, Amobi says concerted efforts are underway to leverage continued advancements in digital technology, and to sustain an expansion into higher-growth international territories across emerging markets such as China, India, Russia, and Latin America.

To view a video of Mr. Amobi discussing DIS, paste the following link into your browser.

About Standard & Poor’s Equity Research Services

As one of the world’s largest producers of independent equity research, Standard & Poor’s licenses its research to global institutions for their investors and advisors.  Standard & Poor’s team of experienced U.S., European and Asian equity analysts use a fundamental, bottom-up approach to assess a global universe of equities across industries worldwide.  Follow Standard & Poor’s equity analysts’ U.S. market commentary each day at

Standard & Poor’s keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of Standard & Poor’s may have information that is not available to other Standard & Poor’s business units. Standard & Poor’s has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process. Standard & Poor’s does not trade for its own account.  The analytical and ethical conduct of Standard & Poor’s equity analysts is governed by the firm’s Research Objectivity Policy, a copy of which may be found at

For more information contact:

Marc Eiger, Communications, Tel.: 212-438-1280

All information provided by Standard & Poor’s is impersonal and not tailored to the needs of any person, entity or group of persons.  Past performance is no indication of future results. Standard & Poor’s and its affiliates provide a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only current as of the stated date of their issue. Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested. Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate. Where an investment or security is denominated in a different currency to the investor’s currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor. The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation of particular securities, financial instruments or strategies to you nor is it considered to be investment advice. Before acting on any recommendation in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice.

This material is based upon information that we consider to be reliable, but neither S&P nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. With respect to reports issued to clients in Japan and in the case of inconsistencies between the English and Japanese version of a report, the English version prevails. With respect to reports issued to clients in German and in the case of inconsistencies between the English and German version of a report, the English version prevails. Neither S&P nor its affiliates guarantee the accuracy of the translation. Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Neither S&P nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not necessarily indicative of future results.

Home Bancorp, Inc. (NASDAQ: HBCP), the holding company of the 103-year-old Home Bank ( announced the completion of its acquisition of GS Financial Corp., the holding company of Guaranty Savings Bank of Metairie, Louisiana.  The combined company has total assets of approximately $975 million, $640 million in loans and $720 million in deposits.

“We welcome Guaranty’s customers and associates to the Home Bank family,” said John W. Bordelon, President and Chief Executive Officer of Home Bancorp and Home Bank.  “Home Bank customers across south Louisiana have embraced our brand of banking as their ideal alternative to the megabanks.  We anticipate the same reaction in the Greater New Orleans area.”

Stephen E. Wessel, Chief Executive Officer of Guaranty Savings Bank, has been named Home Bank’s New Orleans Market President.

“Like Guaranty, Home Bank has demonstrated a commitment to improve the communities we serve,” stated Mr. Wessel.  “Together, we understand the role we play in ensuring our communities thrive – from helping businesses grow to helping homeowners achieve their dreams.  Home Bank’s size, strength and technology leadership greatly enhance our ability to provide our customers with the financial services they need to prosper.”

Home Bank plans to convert the branch and operating systems of the former Guaranty Savings Bank locations to those of Home Bank in September 2011.  The Company expects to realize cost savings of approximately $1.5 million on a pre-tax basis, and anticipates that the transaction will be over 10% accretive to earnings, once savings are fully phased in by 2012.  The dilution to tangible book value is expected to be minimal.  Merger-related expenses are expected to total approximately $2.5 million on a pre-tax basis.  Following the merger, Home Bank’s capital position remains one of the strongest in the industry with total risk-based capital near 19%.  No additional capital was needed to complete the transaction.

Shareholders of GS Financial will receive $21.00 per share in cash, resulting in a total purchase price of $26.4 million.

This news release contains certain forwardlooking statements.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties.  A number of factors – many of which are beyond our control – could cause actual conditions, events or results to differ significantly from those described in the forwardlooking statements.  Home Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2010, describes some of these factors, including risk elements in the loan portfolio, the level of the allowance for losses on loans, risks of our growth strategy, geographic concentration of our business, dependence on our management team, risks of market rates of interest and of regulation on our business and risks of competition. Statements regarding the timing and success of the integration of GS Financial Corp., anticipated cost savings, earnings accretion, book value dilution and merger-related expenses are also forward-looking.  Forward-looking statements speak only as of the date they are made.  We do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.

CHS Inc. (Nasdaq: CHSCP), a leading energy, grains and foods company, today reported income of $754.8 million through the third quarter of its 2011 fiscal year.

Earnings attributed to CHS operations through the third quarter (Sept. 1, 2010 – May 31, 2011) increased nearly 117 percent over $348.1 million for the same period in fiscal 2010.  Revenues through the third quarter of fiscal 2011 reached $26.3 billion, up from $18.6 billion through the third quarter of fiscal 2010, reflecting continued higher values for the energy, grain and crop nutrients products CHS handles.

For the third quarter (March 1 – May 31, 2011) CHS posted income of $358.5 million, compared with $145.4 million for the third quarter of fiscal 2010.  Revenues for the quarter were $10.5 billion, up from $6.6 billion a year ago.

Year-to-date earnings for the company’s Energy segment reflected strong margins for its petroleum refining operations driven by global market conditions, along with strong performance for its renewable fuels marketing business.

The company’s Ag Business segment – consisting of its grain marketing, crop nutrients, local retail operations and oilseed processing businesses – also recorded strong results attributed to both increased grain demand and fertilizer activity. Ag Business earnings also included a gain of $119.7 million on the sale of the company’s share of Multigrain, AG, a Brazilian agribusiness joint venture.

Earnings were also strong for the CHS financing business, along with the company’s Ventura Foods, LLC, vegetable-oil based food and Horizon Milling, LLC, wheat milling joint ventures.  Those results are reported under Corporate and Other.

CHS Inc. ( is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 100 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.

This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management’s estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2010, which can be found on the Securities and Exchange Commission web site ( or on the CHS web site

CHS Inc. Earnings

By segment

(in millions $)

For the Three Months Ended For the Nine Months Ended
May 31, May 31,
2011 2010 2011 2010
Energy $231.4 $74.1 $395.9 $104.7
Ag Business 209.8 81.2 451.4 252.7
Corporate and Other 24.6 26.2 63.9 55.3
Income before income taxes 465.8 181.5 911.2 412.7
Income taxes (59.9) (22.0) (87.1) (44.5)
Net income 405.9 159.5 824.1 368.2
Net income attributable to non-controlling interests (47.4) (14.1) (69.3) (20.1)
Net income attributable to CHS Inc. $358.5 $145.4 $754.8 $348.1

Azteca Acquisition Corporation (the “Company”)(OTCBB: AZTAU) announced today that it has closed its initial public offering for gross proceeds of $100,000,000. The Company sold 10,000,000 units at a price of $10.00 per unit. Each unit issued in the initial public offering consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $12.00 per share. In addition the Company has granted the underwriter a 45 day over-allotment option to purchase up to an additional 1,500,000 units.

The Company is a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business.

Initially, the units will be the only security trading. The Company’s units began trading on the Over-the-Counter Bulletin Board quotation system under the ticker symbol “AZTAU” on June 30, 2011. The common stock and warrants comprising the units will begin separate trading on August 22, 2011 (or such earlier date as the underwriter may permit), subject to the Company’s filing a Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting its receipt of the gross proceeds of the offering and issuing a press release announcing when such separate trading will begin.

The Company has deposited $100,500,000 (including $3,500,000 from a private placement of 4,666,667 warrants to the Company’s sponsor), or approximately $10.05 per share, into a trust account maintained by Continental Stock Transfer & Trust Company acting as the trustee. The funds will not be released from the trust account except under certain limited circumstances as described in the prospectus relating to the offering.

Deutsche Bank Securities Inc. acted as sole book-running manager of the offering.

A registration statement relating to these units and the underlying securities was declared effective by the Securities and Exchange Commission on June 29, 2011. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.  Copies of the final prospectus relating to the offering can be obtained from the U.S. Securities and Exchange Commission website at Alternatively, a copy of the prospectus related to this offering may be obtained from Deutsche Bank Securities Inc., 100 Plaza One, Jersey City, NJ 07311 (Attn: Prospectus Department), (800) 503-4611, or email:

Company Contact:

Gabriel Brener
Chief Executive Officer
(310) 553-7009

ETF Fund Declares Dividend

Global X Funds, the New York based provider of exchange traded funds, today announced the first monthly distributions for the Global X Canada Preferred ETF (CNPF) and the Global X SuperDividend™ ETF (SDIV). The funds started trading on May 25, 2011 and June 9, 2011 respectively. It is anticipated that future ex-divided dates will the first of the month. Please consult to verify pay dates.

CNPF is the first ETF to target Canadian companies that issue preferred stock. For investors seeking income, preferred shares are an asset class worth considering due to their unique combination of bond and equity characteristics. SDIV provides exposure to 100 companies worldwide that rank among the highest dividend yielding equity securities in the world.  It offers exposure to a broad range of countries and sectors.

The table below summarizes the distribution schedule for each ETF, as of July 1, 2011.

For all Funds: Ex-Date: 7/1/2011 Record Date: 7/6/2011    Payable Date: 7/13/2011

Ticker ETF Name Income Distribution Per Share
CNPF Global X Canada Preferred ETF $0.064906
SDIV Global X SuperDividend™ ETF $0.101054696*

*Note: This payment covers a partial month from inception June 9, 2011.


Global X Funds is a New York-based provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. With $1.6 billion in managed assets as of June 30, 2011, Global X Funds currently offers exchange-traded funds that target Developed Markets, Emerging Markets, Commodity Producers, Income Producers and Special Opportunities fund suites. The firm has been awarded “Most Innovative North American ETF Provider,” ETF Express 2011 Awards and “Most Innovative ETF- Americas,” 7th Annual Global ETF 2010 AWARDS®.  For more information, please visit


To receive a distribution, you must be a registered shareholder of the fund on the record date. Distributions are paid to shareholders on the payment date.  There is no guarantee that capital gains distributions will not be made in the future.  Your own trading will also generate tax consequences and transaction expenses. Past distributions are not indicative of future distributions. Please consult your tax professional or financial adviser for more information regarding your tax situation.

Investing involves risk, including the possible loss of principal. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Narrowly focused investments may be subject to higher volatility. High yielding stocks are often speculative, high risk investments. Companies may reduce or stop paying dividends at any time, which could have an adverse effect on performance.

Carefully consider the Funds’ investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds’ prospectus, which may be obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by visiting Read the prospectus carefully before investing.

Global X Management Company, LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Global X Management Company or any of its affiliates.

ETF Express awards were decided by the votes of ETF express subscribers, who include investors as well as managers and other industry professionals at firms including fund administrators, custodians, advisers and distributors.

The 7th Annual Global ETF Awards were determined by votes sent out to ETP industry participants across the globe.

Gold Market: Zacks Latest Highlights

Today, Zacks Equity Research discusses the Metals & Mining industry, including: Barrick Gold Corporation (NYSE: ABX), Agnico-Eagle (NYSE: AEM), Goldcorp Inc. (NYSE: GG), Newmont Mining Corporation (NYSE: NEM) and Kinross Gold Corporation (NYSE: KGC).

A synopsis of today’s Industry Outlook is presented below. The full article can be read at

Global gold demand in the first quarter of 2011 totaled 981.3 tons, up 11% year over year from 881.0 tons in the first quarter of 2010. This was largely attributable to the widespread rise in demand for bars and coins, supported by an improvement in jewelry demand in key markets.

The quarterly average gold price hit a new record of $1,386.27/oz (London PM Fix), its eighth consecutive year-over-year increase. Despite a period of price consolidation in the early part of the quarter, it climbed to record highs throughout March and has continued to achieve new highs in April and May.

Gold remained a coveted asset given its long-term supply and demand dynamics and influenced by macro-economic factors. Concerns regarding economic growth in developed countries made gold an attractive and safe investment option. The European sovereign debt crisis made European investors use gold as a currency hedge. Pressure on the US dollar against various currencies coupled with higher inflation expectations in many countries, including India and China, also pushed up gold prices.

The value and wealth preservation attributes of gold continue to attract investors and consumers. Jewelry and investment demand in non-Western markets continues to rebound while industrial demand has started to recover in response to an improvement in economic conditions. India, which alone consumes nearly 45%−50% of the world gold production, should drive demand for gold along with China. The Chinese gold demand is expected to double in 10 years.

Even though gold price dropped 7% in January this year, it again recorded a rise in February. We believe gold demand and prices will strengthen in 2011. As China and India continue to grow rapidly, their demand for gold will also rise in tandem.

Higher prices bode well for gold producers, which should benefit giants such as Barrick Gold Corporation (NYSE: ABX), Agnico-Eagle (NYSE: AEM) and Goldcorp Inc. (NYSE: GG). However, gold producers like Newmont Mining Corporation (NYSE: NEM) and Kinross Gold Corporation (NYSE: KGC) suffer from lower ore grades that subdue production levels, increase mining costs and offset the benefits of rising gold prices.

Overall, the stock prices of gold producers are not expected to benefit much from this favorable commodity-price backdrop. This is reflected in our overall long-term neutral views on the stocks. As major economies continue to recover, investors’ confidence will be restored to invest in stock markets, which could cause gold prices to fall. However this is not going to happen in the near future. We have a Zacks #3 Rank (Hold) on Barrick Gold, Agnico-Eagle, Goldcorp, Kinross Gold Corporation and Newmont Mining.

Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting

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Visit for information about the performance numbers displayed in this press release.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339

From brokers to investment advisors to financial planners, there are many different types of investment professionals.  With an endless number of options and philosophies to compare, choosing the right investment professional can be daunting.  “At Filomeno Wealth Management, we are independent, fee-only advisors,” said Mike Tedone CPA / PFS, Managing Director, Filomeno Wealth Management.

Independent, fee-only advisors are compensated only for their advice and not for the investments they recommend.  Brokers, in contrast, are commonly compensated by commissions and sale of products.

“It seems like a simple distinction, but it is a powerful one.  As fee-only advisors, we are legally required to act as fiduciaries to our clients, which means we must put the client first, thus eliminating any conflicts of interest,” Tedone said.  “These are not just interchangeable titles – they really mean something quite different.”

5 Tips for Making the Right Decision

  1. Make sure you know how your advisor is being paid. Ideally, the fee should be a percentage of the amount of money the advisor is managing for you.  Your advisor should only receive payment from you and not from the investments selected on your behalf.  This way, payment is straightforward and transparent.
  2. Create a long-term individualized investment plan. Seek an advisor who will sit down with you and listen to your unique financial situation and goals and compose an investment plan that will help you to achieve them.  Your advisor should take the time to empower you through continuous communication and education while preparing and executing your plan.
  3. Retain custody of your assets. Your advisor should use a third-party custodian to ensure the security of your investments.  This will guarantee that your money is in a separate account with your name on it.  The custodian will send you statements independent of information you receive directly from your advisor.
  4. Coordinate tax planning with investment strategies. An integrated strategy that includes investment, tax and estate planning is the best way to achieve optimal results.  An advisor who understands the many moving parts and how they intersect and affect one another will be able to help you make informed decisions about the ‘big picture.’
  5. Understand the breadth of services offered. While some advisors only offer asset management, others are able to offer wealth management as well.  Those who can offer wealth management have a more complete picture of a client’s finances.


“Beyond these five points it is critical that the advisor you choose shares your investment philosophy and works to nurture a trusting relationship with you,” Tedone said.  “After all, finances affect how you live your life, how you achieve your goals and what is most important to you.  This is personal – yet essential – information and you should feel comfortable sharing information with your advisor.”

About Filomeno Wealth Management

At Filomeno Wealth Management, we are compensated only for our advice, and not for the investments we recommend.  Therefore, we offer clients the peace-of-mind that they are receiving unbiased counsel as we develop and execute long-term individualized investment plans focused on asset allocation, diversification, expenses & taxes. Through its affiliate, Filomeno & Company, clients are offered a wide range of services including: individual tax or strategic tax, accounting & auditing, business advisory, business valuations, corporate tax, qualified plans and fraud prevention. Located in West Hartford, CT, the company’s mission is to ‘passionately serve our clients, our community, our firm and each other.’  For more information, contact Filomeno Wealth Management at 860-760-7017 or visit

Press Contact: Jessica Lyon 860.676.4400

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