Comstock re-Loded?

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With gold prices continuing to tickle $1,750 an ounce, speculation in old mines remains strong evoking a rebirth in even one of the nation’s most famous strikes, the Comstock Lode in Nevada. Comstock Mining Inc., a company founded in 1999, said earlier this month, surveys indicate there could be 1.78 million gold equivalent ounces in […] [Read More]
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Warren buys hometown paper

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Is the Oracle of Omaha investing with his heart, these days, trying to save his hometown newspaper, or does Buffett think there’s reason to believe readers do still value the newspapers as they transition into the digital age and fight for attention in a cluttered environment? Buffett’s Berkshire Hathaway announced it bought the Omaha World-Herald […] [Read More]
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Insurers looking for Medicare hikes

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Oxford, USAA and Monumental are all asking to raise some or all of their rates on their Medicare supplemental coverage for Connecticut residents. The State Insurance Department has scheduled hearings for all three proposals on the same day, Dec. 21. Oxford is seeking an across the board 7 percent hike. USAA is looking for a […] [Read More]
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S&P downgrades a pack of the world’s largest banks

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Could be a wild open Wednesday. S&P announced Tuesday it has finished its review under new criteria of the top 37 banks in the world and has adjusted the ratings on many. Bank of America and Citigroup both were rated A- with negative outlooks. Royal Bank of Scotland went from A stable to A- stable […] [Read More]
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UBS is offering $5.3 billion in gold indexed securities

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UBS filed paperwork Monday and Tuesday detailing plans to offer more than $5.3 billion in buffered return optimization securities tied to a gold index. The deal offers three payment scenarios. If the spot price of gold increases during the period, the buyer will get principle plus 1.5 times the asset return. If the price doesn’t […] [Read More]
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Citigroup and SEC now facing the fire of a trial

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There’s a new sheriff in town and his name is U.S. District Judge Jed S. Rakoff who ordered the SEC to prove allegations that Citigroup knowing created a fund called ClassV Funding III, in which it dumped mortgage backed securities of dubious value and then sold the fund to misinformed investors for a profit of […] [Read More]
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Interesting insider trading standards popping up

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This guy’s transgression sounds oddly familiar. He heard about an acquisition from an insider. Though he himself was not an officer or employee of the company, he bought shares and tipped off his friends and family to help them get in on the deal before anyone else. The SEC says he betrayed the source of […] [Read More]
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SEC says hedge fund was piggy bank for failing company

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The Securities and Exchange Commission has brought charges against Oakbrook, Ill. manager Patrick G. Rooney and his Solaris Management LLC. for allegedly misusing $3.6 million in investments. Rooney, according to the SEC, redirected investments in his hedge fund into the Positron Corp, a failing company that he was chairman of and then hid the investment […] [Read More]
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Now soup is in the BPA soup

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A new study in JAMA, Journal of the American Medical Association, found the urine of people who just consumed canned soup, had higher levels of BPA. While the study doesn’t make a connection to any health risks, it’s another shot in the war against chemicals that have seeped into the blood streams of humans and […] [Read More]
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Insiders exercising options ahead of holidays

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Missouri-based officers of Leggett & Platt Inc., the home goods maker, snapped up shares in their company at as much as a $2.50 discount from Tuesday’s trading levels. The question is as volatility continues to swing prices up and down, what will insiders do with options carrying higher values? In the case of  the 11 […] [Read More]
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