$100.00 per Barrel Oil a “Sure Thing.”
Jim Rogers, who along with George Souros cofounded the Quantum Hedge Fund is predicting $100.00 per barrel oil … soon.
Bloomberg quotes Rogers, “Unless somebody discovers something very quickly and very accessibly, we’re all going to be dumbfounded at how high the price of oil will go, including me,'’ Rogers said in an interview in Singapore.
Other analysts, including the head of commodities research at Merrill Lynch, disagree.
Nevertheless many Wall Street traders seem to agree with Rogers as bets on futures contracts for $100.00 per barrel oil have tripled in recent months.
Dow up 1.7% on News of Mergers
The Dow jumped 1.7% today on news of multiple mergers. Amex announced lower earnings however and gas prices rose above $3.00 per gallon. Has the Dow finally found traction? I’d give it an “A” for effort but I expect it’ll be short-lived for the time being. We’re still down considerably from the last high spot in May and about where we were back in February. I’m still looking to the 4th quarter before the market firms up.
Nevertheless, I could be wrong.
New Vietnamese Bank Boosts Vietnamese Market by Half!
The BBC reported today that the listing of the first Vietnamese Bank on the Vietnamese exchange has lifted the country’s stock market by half. They said, “Sacombank - or Saigon Commercial Bank - debuted with a market capitalization of almost $1bn, and is by far the biggest company on the exchange.”
The securities market in Ho Chi Minh City lists just 41 stocks but the addition of Sacombank has increased the total value to $3 billion. Vietnam’s banks are readying themselves for the arrival of multinationals which are held at bay presently by stringent restrictions on foreign ownership. Restrictions are expected to ease considerably with a change in rules once Vietnam is admitted into the World Trade Organization later this year. In the past year the Vietnamese market has been the top performer in Asia with a gain of 60%. Some of the credit for Sacombank’s emergence from the pack must be given to its recent partnership with Australia’s, New Zealand Bank.
Business School Applicants, MBA Grad Salaries, MBA Demand: all Up
The Albany Business Review reported that “A down economy hit U.S MBA programs hard, but schools across the country are now reporting a surge in interest from both students and employers.
The New Mexico Business Times found that the University of New Mexico’s Anderson Schools of Management has seen a 33 percent jump in the number of applicants for its master’s of business administration. The Charlotte Business Journal notes the University of North Carolina at Charlotte has seen a 30 percent increase in applications.
And most schools says they’ve seen a big increase in recruiters on campus. The Portland Business Journal reports that the University of Washington said MBA recruiting doubled from 2005 to 2006. The National Association of Colleges and Employers says MBAs are among the job market’s hottest prospects, with starting annual salaries as high as $120,000.
Schools competing for MBA students are also increasing the options available, from part-time and executive MBA programs to increased specialization, the Portland Business Journal continues. At the same time, though, fewer employers are picking up the tab, the Charlotte Business Journal says. While 55% of executive MBA students had full employer sponsorship in 2000, only 45% did in 2004, according to the Executive MBA Council.”
In a Wall Street Journal article from 06/28, columnist, Emily Meehan writes about twenty-somethings who log 80 hr work weeks in the hope of getting ahead. (see “Logging in Long Hours in a Bid to get Ahead“) One of them, 26 year old Martin Keck, has ditched his $125,000/yr day job to return to business school at Dartmouth. He sees the opportunity as one to pause, reflect and acquire skills for the next step. He doesn’t deny that life after Business School will be just as busy as before but he hopes to pick it up again at a senior level.
For the past couple of years the decisive verdict (much like immediately prior to the dot com bust), was, “who needs it? With the economy slowing and credentials in demand the market for sheepskin is on the uptick.