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    • The Bull Case for Gold Hasn’t Changed One Iota: Michael Pento

      By Bernice Napach | Daily Ticker – Fri, Apr 26, 2013 3:02 PM EDT

      Gold soared Friday morning to just below $1,475 an ounce, but by the afternoon the gains were gone and gold was down almost $9 an ounce. Though poised to end the day almost unchanged, the yellow metal was still up for the week and it’s anybody’s guess where it goes from here.

      Michael Pento, president of Pento Portfolio Strategies and author of the new book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market, has been invested in gold since 2001 and is certain that it’s only going higher from here.

      “Gold is real and honest money,” he tells The Daily Ticker, noting it will hold value even while currencies fluctuate against each other.

      Related: Forget Gold, Use Silver as Currency: David Morgan

      Pento says there are several primary reasons to own gold:

      • The U.S. Debt-to-GDP ratio continues to grow
      • The level of U.S. debt has remained near $1 trillion annually for the past four years
      • Real interest rates are negative
      • The Fed continues its quantitative easing
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    • The United States government has had two years to head off automatic "sequester" spending cuts that most people agreed were unnecessary and almost everyone hated.

      But these days, the government doesn't do anything unless public anger hits such a state of fervor that Congress -- people actually begin to fear for their jobs.

      Most of the sequester cuts have so far gone unnoticed, except insofar as they have contributed to the latest "spring swoon" in the economy.

      But one of the cuts--a 10% hack to the budget of the Federal Aviation Administration (FAA) --has already infuriated almost everyone.

      This week's flight delays due to the "furloughing" of FAA air traffic controllers, in other words, has done what two years of lead time has not:

      Congress was actually forced do something.

      Today the House of Representatives passed the Senate plan designed to allow the FAA to recall the air-traffic controllers by a 361-41 vote. White House spokesman Jay Carney said President Obama plans to sign the

      Read More »

    • George Soros Buys 8% Stake in JCPenney: Should You Follow?

      By The Daily Ticker | Daily Ticker – Fri, Apr 26, 2013 11:51 AM EDT

      Provided by Business Insider

      Billionaire hedge fund manager George Soros has reported a 7.91% passive stake in JCPenney, according to a securities filing with the SEC.

      The news sent JCPenney (JCP) shares soaring 7% in after-hours trading Thursday. The stock is currently up $1.08 or 7% a share to $16.32.

      Soros Fund Management owns 17,386,361 shares of the retailer, the 13G filing shows.

      As The Daily Ticker's Henry Blodget and Aaron Task discuss in the above clip, Soros must have seen some value in the beleaguered retailer. The question is now: should the average investor follow suit?

      Earlier this month, JCP said that its CEO Ron Johnson had stepped down effective immediately. JCPenney's former CEO Mike Ullman became the interim chief.

      Soros' stake has to be good news for activist investor Bill Ackman.

      Ackman, the CEO of $12 billion Pershing Square Capital Management, is the biggest shareholder of JCP with a 18.11% stake, or 39,075,771 shares, according his latest 13F filing. He has

      Read More »

    • Reports of the cupcake’s demise are premature. The popularity of the cupcake – an all-American sugary treat that comes in various (and delicious) fillings, frostings, and decorations – exploded in recent years with gourmet and artisanal shops popping up across the country.

      Cupcakes soon became a “trendy” and stylish dessert to indulge in and cable networks aired shows like Cupcake Wars and DC Cupcakes that helped fuel more demand for cupcakes.

      Must all good things come to end? According to The Wall Street Journal, the cupcake bubble has burst and the phenomenon that took Americans by storm and shattered people’s diets may be officially over. The paper cites the downfall of Crumbs Bake Shop (CRMB) – a husband and wife owned cupcake chain that opened its doors in March of 2003 on Manhattan’s Upper West Side.

      Crumbs cupcakes -- exalted for their enormous size (they’re about 4 inches tall) -- quickly became a fan favorite and the leader in the cupcake craze. But the company’s rapid growth

      Read More »

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