Per H Börjesson som skrivit ett par böcker om privatekonomi drog stor publik i Almedalen. Många ville ha konkret vägledning hur man blir miljonär genom klokt sparande.
Här är hans tre råd:
Spara 10 procent direkt när du får lön. Vänta inte på bättre tider.
Köp en bostad i ett bra läge och amortera på dina lån.
Köp aktier eller aktiefonder, gärna indexfonder, och behåll dem.
– Alla kan bli miljonärer på sikt bara man följer dessa regler, säger Per H Börjesson.
Like most commodities, silver has had a tough time these past few months, having fallen
from close to $30 in mid-April to its current price of $19.32. However,
good news for the white metal has recently arisen in the form of Indian
silver import figures.
In a note
published last Friday, Eric Sprott and David Franklin state that after
importing just 1,900 metric tons (MT) of silver in 2012, India has
brought in 2,400 MT of the precious metal in just the first five months
of this year. That is significant given the fact that India’s record for
silver imports, recorded in 2008, is 5,048 MT, as per SilverSeek.com.
Why the surge in imports?
In terms of precious metals, India’s claim to fame has long been its status as the world’s biggest gold
consumer. It’s gained that title largely because people in the country
have limited access to banks, and, according to Sprott and Franklin,
“owning precious metals is synonymous with savings and security.”
However, at present, taxes and import restrictions are making it
difficult for buyers to get their hands on the yellow metal. Seeking
Alpha contributor Dante Caruso elaborates on those measures in a recent article,
commenting that in May, the Indian government raised the gold import
duty to 8 percent from 6 percent as part of its “drastic measures to
redirect [gold] investment back into the economy.” Further, lending
against gold, including gold jewelry and gold ETFs, has been restricted,
while Reliance Capital and the All India Gems & Jewellery Trade
Federation are attempting to curb sales of gold and gold-related
products.
As a result “it would appear that the Indian gold trade has moved
offshore” to get away from those factors, while ”the majority of Indian
investors” — excluding larger investors — are gravitating toward silver,
Sprott and Franklin state.
The implications
Unsurprisingly, these circumstances have investors wondering whether
this year will see India break its 2008 record for silver imports.
More importantly, many are considering how the market will be
affected if India breaks, or even approaches, that record. Shedding some
light on that topic, Caruso states in his article that due to both
silver’s cheapness relative to gold and the fact that Indians spend so
much more money on gold than on silver — respectively $7.2 billion and
$665 million in May — “[v]ery little redirection of gold investment into
silver is required to have a major impact.”
Put more bluntly, that means that if even a small number of gold
investors decide to buy silver instead, the silver market could easily
be overwhelmed, with prices rising “very quickly” as supply diminishes.
With that in mind, it looks as though, like Sprott and Franklin state, silver will be the true winner in India’s “war on gold.”
Silver mining in Mexico is on the rise, and many hopefuls are
flocking to the country to try their luck. Here’s a look at five such
companies.
Canada’s Aurcana (TSXV:AUN) owns 99.9 percent of the La Negra silver-copper-lead-zinc
mine, which is located in Queretaro State, Mexico. As of 2009, La Negra
was milling 1,000 metric tons (MT) per day, a number that jumped to 2,500 MT per day
in 2012. This year, Aurcana expects to reach 3,000 MT per day. While
exploration is ongoing at La Negra, a report from August 2012 identified
115 million ounces of measured and indicated silver underground. This
news changed the mine’s life to at least 30 years.
Avino Silver & Gold Mines (TSXV:ASM), also based in Canada, has 99.28-percent ownership of the Avino mine in
the heart of the Sierra Madre Gold-Silver Belt. The mine was discovered
in the 1500s and has been in operation, on and off, ever since. The
mine has been owned by Avino since 1974, though production shut down in
2001 as a result of low silver prices and the closure of a key smelter.
Avino has since reopened the mine. The San Gonzalo zone achieved
full-time production in October 2012, while the company is exploring new
zones in the area that were discovered in 2011.
Formerly a subsidiary of NSGold (TSXV:NSX), NSX Silver (TSXV:NSY) is currently actively mining
the Dios Padre mine, located in the Eastern Sierra Madre mountain range
about midway between Hermosillo and Chihuahua in East-Central Sonora.
NSX believes that the Dios Padre property’s exploration potential is
excellent, particularly in the breccia body. The property has been mined
since the 17th century and hosts high-grade silver mineralization.
Pilot tests have already demonstrated that the property responds well to
conventional milling and flotation, yielding a concentrate with
87-percent recovery of silver.
Gold and silver producer Silvermex Resources (TSX:SLX)‘s primary asset
is La Guitarra, a property located in the Temascaltepec mining district
of Central Mexico. The property, along with the company, was absorbed
by First Majestic Silver (TSX:FR,NYSE:AG)
in July 2012. The mine covers 98,135 acres and has been mined since the
15th century. Recently, the company completed an expansion program,
increasing its silver production capacity by 40 percent, to 500 MT per
day. Further planning is currently underway to increase production to as
much as 1,000 MT per day. The mine consists of two underground
operation centers and a flotation mill.
Vancouver-basedKootenay Silver (TSXV:KTN) is currently exploring
its Promontorio mine in Sonora, Mexico; the company recently discovered
that the mine contains 92 million silver equivalent (AuEq) ounces. The
mine is made up of approximately 197,684 acres and contains an estimated
44.5 million MT grading an average of 64.32 g/t AuEq. Exploration of
the area indicates that as many as 92 million ounces of AuEq could be
available, with an additional 24 million ounces categorized as
“inferred.” The company is approaching a milestone of 1 million ounces
of AuEq mined.
The history of silver mining in Mexico stretches back almost 500
years, when the great silver-gold vein system of the Veta Madre at
Guanajuato was discovered
in 1550. That area is now known as the Silver Belt, and it stretches
from Guanajuato and Zacatecas in the Mesa Central, Chihuahua in the Mesa
del Norte and San Luis Potosi to the East. Today, this is the home to
silver mining companies from around the world.
"Geologically, there is no better place on earth for silver," said geologist Peter Megaw to The Northern Miner.
Megaw, president of International Development and Exploration and
confounder of MAG Silver (MAG-T, MVG-X), has worked in Mexico for nearly
40 years. Last year Mexico produced over 162 million ounces of silver, making it the global leader in silver production.
Though Mexico has long since been a major player on the silver mining
scene, the country was not receptive to foreign investors for a large
part of the twentieth century. From 1961 to 1991, the Mexican mining law
stipulated that mineral assets must be at least 50 percent owned by
Mexican companies. In the 1990s, when the law changed to allow 100
percent foreign investment, international companies quickly flocked to
reinvest in the country's silver mines, resulting in many new silver
sources being uncovered.
Companies to watch in 2013
Fresnillo PLC (FRES:LN) is a United Kingdom-based company which
made its debut on the London Stock Exchange in 2008. The group
maintains the largest land area of concessions for precious metals
exploration and mining in Mexico. In 2012, Fresnillo produced 36.9
million ounces of silver, and the first quarter of 2013 has produced
10.1 million ounces already, putting it up 2.6 percent over the first
quarter of 2012.
First Majestic Silver Corporation (TSX:FR, NYSE:AG) currently owns and operates
mines in Mexico, with its headquarters in British Columbia, Canada. The
corporation anticipates the production of over 11 million ounces of
silver in 2013 through their five mines, La Parrilla Silver Mine, the
San Martin Silver Mine, the La Encantada Silver Mine, the Del Toro
Silver Mine and the La Guitarra Silver Mine.
Endeavour Silver Corporation (NYSE: EXK, TSX: EDR) has seen eight consecutive years
of growth since its startup in 2004. The company is mid-tier, focusing
on expansion programs at its three operating mines in Mexico, the
Guanaceví Mines operation in Durango State and the Bolañitos (formerly
called Guanajuato Mines) and El Cubo mines operations in Guanajuato
State. A total silver production of more than 5 million ounces is
expected in 2013 after a 2012 yield of 4.5 million ounces.
What to keep in mind when investing in silver
Silver, in general, is considered a safe investment.
Its worth is not generally going to be greatly affected by political
turmoil or economic crisis. However, it should be noted that silver
serves as a currency as well as an industrial metal. This gives it
behavior similar to that of a currency and may act as an inflation hedge
during falling dollar prices.
As silver mining becomes more widespread and successful in
Mexico, many companies are in the process of exploring promising
properties.
Southern Silver Exploration Corp.(TSXV:SSV)
Based in Vancouver, Canada, this junior exploration company is currently
working on multiple projects throughout North America, including two in
Mexico. Southern Silver’s flagship exploration property is the Cerro
Las Minitas silver-lead-zinc
property located in Durango State, Mexico. It covers over 57.9 square
miles, much of which is in Northern Mexico’s Faja de Plata, or Belt of
Silver. According to the company’s website, this area has historic
production and resources of over 3 billion ounces of silver.
Southern Silver is also in the process of exploring its Minas de Ameca project in Jalisco State. This property contains silver, gold and copper deposits within its 50.6-square-mile area.
Arian Silver Corporation (TSXV:AGQ)
The silver exploration, development and production company focuses
primarily on the silver belt in Mexico, specifically Zacatecas State.
Its mission is to explore properties with prior exploration and
production history in order to best reduce risks and capital costs.
Currently, Arian Silver’s main exploration project is its
100-percent-owned Calicanto Group, which encompasses 7 adjacent
properties in Zacatecas. It does not have a current reserve estimate,
but during previous production in 1955, a small section of the mines had
monthly production of 1,500 to 3,400 dry tons, with an average of 110
grams per ton of silver. The property has since been expanded through
exploration.
Aura Silver Resources (TSXV:AUU)
Aura Silver’s concentration is silver and gold in North America. Its
major Taviche Project is located in Oaxaca, Mexico, within the San Jose
Mining District.
This exploration project is made up of the Taviche East and Alma
Delia concessions, according to the company’s website. Within these,
research on the Higo Blanco prospect has determined an inferred silver
resource of 865,000 metric tons at a grade of 119 grams per ton,
amounting to 3.3 million ounces of contained silver.
Kootenay Silver (TSXV:KTN)
The Vancouver-based exploration and mining company is focused heavily on
the exploration of its 100-percent-owned flagship Promontorio Silver
Project located in Sonora, Mexico. Kootenay Silver’s most recent
resource estimate found this property holds an estimated 92,035,000
ounces of silver equivalent, plus an additional 24,326,000 ounces
inferred. Promontorio is also estimated to contain sizeable gold
deposits.
Currently, the Promontorio property is such a priority that Kootenay is not in the process of exploring any other areas.
NSX Silver (TSXV:NSY)
Also headquartered in Canada, NSX Silver is a mineral exploration
company focused on the exploration and development of silver in Mexico.
Its primary asset is the Dios Padre project located in the Eastern
Sierra Madre Mountain range between Hermosillo and Chihuahua.
The Dios Padre’s past production reached 16 million ounces of silver,
according to the company website, and its current exploration potential
is considered to be excellent. NSX Silver has plans to produce a
resource estimation for the project in the near future.
Nokia aviserade igår att banken kommer köpa
ut Siemens från NSN, vilka fortfarande kan sikta mot en
börsintroducering. Eftersom att transaktionen på 1,7 miljarder Euro står
för mer än 50 procent av rabatten i Nordeas värderinguppskattning tar
banken en exceptionellt positiv stans till aktien.
Nordea antar att efter Q3, då minoritetsintressen försvinner,
kommer att ge betydligt högre estimat. Banken upprepar köp och höjer
riktkursen till 3,50 Euro (3,25).
I Nordeas rapport från den 12 juni om NSN, värderade man Siemens
”halva” av NSN till minst 4 miljarder Euro eller 1 Euro per Nokia-aktie.
Affären på 1,7 miljarder Euro verkar nästan för bra för att vara sann
men den kommer sannolikt att förklaras genom ”trötthet” i Siemens efter
mer än sex år som passerat för joint venture och givet att avyttringar
av IPO skulle ta ytterligare tre år. Därmed berättigar NSN åtminstone
två tredjedelar av Nokias nuvarande aktiekurs med potential att
fortsätta uppåt på egna meriter.
Även om förvärvet kommer pressa Nokias balansräkning, anser Nordea
att verksamheten klart är gångbar även utan kassaflödet från NSN (1,5
miljarder Euro, av vilka 800 miljoner Euro kan lösgöras) exkluderar
potential i nya mått för att lösgöra runt 500 miljoner Euro i kapital
genom att sälja fabriker, så som Helsingin Sanomat skrev igår, så väl
som positiva kassautsikter för Nokia och NSN under 2013. I samtliga
fall, känner Nordea att Nokia kommer få det enklare att adressera
skuldmarknader med förstärkt kassaflöde än genom att ha pengar på
banken.
Nordea har mestadels förlitat sig på värderingen av ett
helhetsscenario för Nokia under den tuffa övergången för divisionen
Smart Devices som har återinställt vinster. Fullt ägarskap av NSN
innebär en materialpåverkan på vinstmultiplar, som tar tillbaka dem till
attraktiva nivåer med ett P/E-tal för 2014 på 12,5, EV/EBIT på 7,2 och
EV/EBITDA på 3,7. Nordeas reviderade grundvärdering av bolaget står nu
på 4,5 Euro per aktie (ett intervall mellan 3,2 till 5,3 Euro).
Det är svårt att förstå och därmed bedöma
Kinas ekonomi. Stora kulturella skillnader i agerande och värderingar
gör att vi ofta går bet. Samtidigt finns en osäkerhet om huruvida det
går att lita på den statistik vi får tillgång till.
Det vi dock vet med säkerhet är att det är ett land med en mycket
stor befolkning men där medelklassen utgör bara en del. Å andra sidan
ökar nu medelklassen i snabb takt och därmed förhoppningarna om förhöjd
levnadsstandard. Denna utveckling skapar såväl möjligheter som risker.
Trots Kinas geografiska storlek finns bara en tidszon i Kina.
Ekonomiskt är det, däremot, stora skillnader. Östra Kina, med Peking och
Shanghai i spetsen, står inför utmaningen att gå från att vara ett
industrisamhälle till att bli en konsumtionsdriven ekonomi, medan västra
Kina fortfarande är outvecklat och fattigt.
I mitten av Kina ligger Chongqing och Chengdu, två städer med 29
respektive 14 miljoner invånare, som nu växer i rekordfart. Tillväxten
var hela 13 procent 2012. Kina har golv för hur låg tillväxten får vara.
I Chongqing är golvet 12 procent i år, vilket kan jämföras med 7,5
procent för Shanghai och riket i genomsnitt.
Samtidigt är inkomsten per person i Chongqing bara drygt hälften av
den i Shanghai, medan minimilönen är 35 procent lägre. Å andra sidan är
kvadratmeterpriset för ett hus 8 000 yuan i Chongqing, mot 28 000 yuan i
Shanghai. Förutsättningarna för hög tillväxt i städer en bit från
östkusten är därmed fortsatt goda. Det dröjer innan de slår i
tillväxttaket, och viljan är stark till att uppnå samma levnadsstandard
som städerna vid östkusten har.
Det regerande kommunistpartiets ambition är också att konsumtionen
ska bli en starkare motor i ekonomin. Ett mål är att disponibelinkomsten
ska fördubblas från 2010 till 2020. Löneökningar på närmare 10 procent
är standard på många håll, vilket i sig ger möjlighet till högre
konsumtion. E-handeln ökar i rekordfart, vilket kan vara ett skäl till
att konsumtionstalen underskattas. I fjol handlade 210 miljoner personer
återkommande på nätet, och antalet växer snabbt.
Befolkningen i Kina är respektingivande 1,3 miljarder människor.
Varje år utexamineras 6 miljoner universitetsstudenter. Ska alla
individer höja sin levnadsstandard lär det hålla uppe tillväxten ett bra
tag till. Löner som stiger så snabbt är, å andra sidan, en utmaning för
företagens vinstutveckling, eftersom priserna inte kan höjas i samma
takt.
Baksidan av den snabba utvecklingen är miljö och hälsa. Oron för den
hälsovådliga miljön är utbredd. Trycket ökar därmed på myndigheterna att
göra något. På sikt kan det bli svårt att få internationella företag
att flytta till städer där luften är alltför dålig. Det kan också bli
svårt att locka välutbildade familjer.
Andra utmaningar är den omfattande korruptionen. Partiet är starkt,
och många gynnas av systemet. Det är dock slående hur mycket
marknadsekonomin styr även partiets agerande. Stora delar av
affärsverksamheten sker genom ledningen i respektive region och stad.
Den största utmaningen för partiet blir därmed sannolikt att även på
sikt öka levnadsstandarden lagom snabbt så att folket hålls lagom nöjt.
Mycket av det man ser när man reser runt är snyggt och modernt, i
flera avseenden betydligt bättre än i Europa. Men det är inte utan att
man får känslan av en kuliss – som den vi ser i TV på julafton i Musse
Pigg på camping. Frågorna hänger sig kvar: Vad finns bakom kulissen, vad
är det vi inte förstår och därmed missar?