June 4, 2012 - Quote of the Day
?I will believe that corporations are people only when the states of Texas and Alabama start executing them,? said former Secretary of Labor, Robert Reich.
Entries by DougD
Are We Probing a Bottom With Housing?
The March Case Shiller Home Price Index is out, showing that the fall in home prices continues unabated, paring -2.6% on a YOY basis. Detroit delivered the biggest drop, down a shocking -4.4%, followed by Chicago (-2.5%), and Atlanta (-0.9%). But 14 out of 20 markets managed increases in prices. The national index is still
Dinner With Labor Secretary Robert Reich
I never resist a dinner invitation from Bill Clinton?s Secretary of Labor, Robert Reich. A Rhodes Scholar who dated Hillary Clinton at Yale, he unsuccessfully ran for governor of Massachusetts against Mitt Romney, and authored 13 books. Bob is never without an original thought, nor a stranger to controversy. Today he didn?t disappoint. On top
June 1, 2012 - Quote of the Day
?If there is no monetary stimulus and no fiscal stimulus, obviously we are going to continue to grow slowly. We could be in secularly slow growth for decades,? said Harvard economics professor, Ken Rogoff. ? ?
My Tactical View of the Market
The abject failure of the equity indexes to breach even the first line of upside resistance does not bode well for the ?RISK ON? trade at all. Only a week ago I predicted that the markets would be challenged to top 1,340 in the (SPX) and $78 for the Russell 2000 (IWM). In fact, we
May 31, 2012 - Quote of the Day
?What?s going on with Facebook? We had better IPO standards when Don Draper was on the scene,? said Sallie Krawcheck, former head of wealth management at Merrill Lynch.
Apple Redux
The news out this morning that Apple (AAPL) may launch its HD television product in time for the Christmas holidays caused a nice pop in the stock this morning, so I thought I would quickly review the fundamental case behind owning the company. The story originated from rumors in China that its main manufacturer, Foxcon,
Time to Buy JP Morgan
This is far and away the world?s premier banking institution. Estimates of the huge trading losses by the London ?whale?, initially pegged at $2 billion, have since skyrocketed to $6 billion. I?ll ignore the Internet rumors that speculate about a $30 billion hickey. As you well know, almost everything on the net is not true,
May 30, 2012 - Quote of the Day
?A lot of new economics involves the reading of a lot of old books,? said Nobel Prize winning economist Paul Krugman.
What Hot?and Not
My friend, Tom Dorsey of the technical research boutique Dorsey Wright, inundates me daily with a never ending stream of market sensitive data which has been helping me make some of my more successful market calls. For example, when the S & P 500 hundred broke 1,380 in April, he completely nailed the 1,280 bottom