Source: blogs.barrons.com - Thursday, February 26, 2015
The U.S. and Cuba will meet in Washington Friday for a second round of diplomatic talks. At stake: the potential lifting of U.S. trade embargo against Cuba that has endured for a half century. The Herzfeld Caribbean Basin Fund ( CUBA ), a closed-end fund that invests in companies that should benefit as Cuba resumes trade and tourism with the U.S., is up 2.3% today and more than 5% this week after clocking an 18% rise in 2014. The fund has corrected since its big jump in December when the U.S. first talked up normalization of relations with Cuba. Barron’s went down to Miami to the fund manager, producing some fascinating insights in the Feb. 21 Barron’s magazine. See “ Investing In Cuba: Tom Herzfeld Sizes Up the Prospects .” Subscription required) One tidbit: The fund started buying Seaboard ( SEB ), an agribusiness and shipping company, at about $200 a share; it’s now well above $3,800. Seaboard’s businesses include cargo shipping, and sells pork and poultry, among other things. The fund also owns materials companies including Mexico’s cement-maker Cemex ( CX ), as well as cruise-ship operators. Bloomberg News A sign: Cuban president Raul Castro, from left, former Cuban president Fidel Castro, and deceased Venezuelan president Hugo Chavez near Santiago de Cuba, Cuba. The discussion agenda Friday includes establishment of full-fledged embassies, the movement of diplomats, visas, access to equipment and banking. But the meeting ma
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The U.S. and Cuba will meet in Washington Friday for a second round of diplomatic talks. At stake: the potential lifting of U.S. trade embargo against Cuba that has endured for a half century. The Herzfeld Caribbean Basin Fund ( CUBA ), a closed-end fund that invests in companies that should benefit as Cuba resumes trade and tourism with the U.S., is up 2.3% today and more than 5% this week after clocking an 18% rise in 2014. The fund has corrected since its big jump in December when the U.S. first talked up normalization of relations with Cuba. Barron’s went down to Miami to the fund manager, producing some fascinating insights in the Feb. 21 Barron’s magazine. See “ Investing In Cuba: Tom Herzfeld Sizes Up the Prospects .” Subscription required) One tidbit: The fund started buying Seaboard ( SEB ), an agribusiness and shipping company, at about $200 a share; it’s now well above $3,800. Seaboard’s businesses include cargo shipping, and sells pork and poultry, among other things. The fund also owns materials companies including Mexico’s cement-maker Cemex ( CX ), as well as cruise-ship operators. Bloomberg News A sign: Cuban president Raul Castro, from left, former Cuban president Fidel Castro, and deceased Venezuelan president Hugo Chavez near Santiago de Cuba, Cuba. The discussion agenda Friday includes establishment of full-fledged embassies, the movement of diplomats, visas, access to equipment and banking. But the meeting mafrom Top News on RSS Feeds http://ift.tt/1FzDJvJ
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