Today, a guest post of mine appears on “MarketClub Trader’s Blog” from INO.com:

“Investing Legends Buying Up Stocks”

Legendary investors Jeremy Grantham and Warren Buffett recognize stock investors are in a panic, and are taking advantage of the situation by actively acquiring equities.

Looks like “The Oracle of Omaha” is springing into action. CNBC Executive Producer Alex Crippen wrote this morning:

A subsidiary of Warren Buffett’s Berkshire Hathaway just announced a tentative agreement to buy Constellation Energy for roughly $4.7 billion in cash.

MidAmerican Energy Holdings is paying just $26.50 a share. Constellation’s stock closed at $58.37 last Friday and finished 2007 at $102.53.

Constellation’s stock has plunged in recent days after S&P put its debt rating on watch amid worries about the liquidity needs of its commodities trading business.

Crippen, who follows the legendary stock investor through his “Warren Buffett Watch” blog, added:

It appears Buffett is indeed taking advantage of the recent financial turmoil to pick up what he would call a good company at a great price. We assume he sees something in Constellation that he didn’t see in AIG, since he declined to come to that company’s rescue earlier this week after it suffered a similar, but more extreme, battering on Wall Street.

Source:

“Warren Buffett Picks Up Constellation Energy At Bargain Price”
Alex Crippen
CNBC, September 18, 2008

On Friday, Reuters (UK) interviewed legendary emerging markets investor Mark Mobius about investing in Polish, Russian, and Turkish stocks. Reuters’ Piotr Skolimowski wrote:

Turkish, Russian and Polish stocks are the most attractive in emerging Europe, high-profile emerging markets fund manager Mark Mobius said on Friday.

“Turkey would be at the top, then Russia and Poland as the most attractive equity emerging markets in the region,” Mobius, executive chairman of Templeton Asset Management handling some $40 billion in emerging assets, told Reuters in an interview.

A lot of attention was given to Polish equities in the piece. Skolimowski wrote:

Mobius said soon-to-be-privatised power company Enea and oil company PKN Orlen PKNA.WA were among “must have” stocks in Poland, adding another local refiner Lotos LTOS.WA could be added to that list if it merged with bigger peer PKN.

Templeton, which holds $400 million in Polish stocks, owns less than five percent of PKN as well as stakes in satellite navigation company Techmex TMEX.WA and ING Bank Slaski SLAS.WA, a unit of ING Groep, he said.

Mobius added Polish banks were unattractive at the moment because of their heavy mortgage lending and said Templeton Asset Management, an arm of Franklin Resources Inc, prefers their Thai and Brazilian peers.

Warsaw, Poland

Mobius, who has over 40 years of experience in emerging markets, added:

Anything related to oil and commodities is of interest to us.

Source:

“INTERVIEW-UPDATE 1-Mobius likes Turkish, Russian, Polish stocks”
Piotr Skolimowski
Reuters (UK), July 11, 2008

The Chinese financial website ChinaKnowledge.com reported earlier today that famous investor Jim Rogers visited a sub-branch of China Minsheng Banking Corp Ltd in Nanjing and spoke to more than 500 VIP clients of the bank on global economic trends and investment opportunities in China. According to China Knowledge:

Jim said the Chinese government is the most successful government over the past 30 years, though the economy is currently facing some difficulties. However, he does not expect the current difficulties to change major economic trends; China will remain an active and dynamic economy attracting attention all over the world.

When asked about the recent scenario in Chinese stock markets, Jim firmly said the Chinese stock market deserved a favorable outlook on the basis of the country’s long and medium-term economic development prospects. The Chinese stock market is developing in an orderly manner and will further mature gradually. Far-sighted investors will see the bright outlook for the Chinese capital market, added Jim.

The American investor stepped into Chinese B-share market as early as 1999. He said the country’s tourism, public utilities, farm products and basic products markets are valuable avenues for investment.

Source:

“Jim Rogers opens an account with CMBC”
ChinaKnowledge.com (China), July 2, 2008