Frank Holmes: Glencore Could Have a Global Impact
Frank joins Martin Soong of CNBC’s Squawk Box to share his thoughts on Glencore, the massive commodity trading and mining company.
Frank joins Martin Soong of CNBC’s Squawk Box to share his thoughts on Glencore, the massive commodity trading and mining company. As one of the 10 largest businesses in the world, Glencore has alarmed analysts and investors lately after losing nearly $45 billion this year alone. Frank compares the company to Lehman Brothers, the giant financial services firm whose bankruptcy in 2008 is widely believed to have contributed to the global financial crisis.
“Glencore is the most sophisticated mining trading desk,” Frank says, insisting that if it were to “unravel,” it “could have a global impact.”
Watch the entire interview to find out where Frank sees the positive in this “terrible market.”
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Fund portfolios are actively managed, and holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the interview were held by one or more of U.S. Global Investors Funds as of 6/30/2015: Glencore PLC.
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