Money can’t buy you happiness, but it can buy you a boat. So with that in mind, Skip and I planned out our road (and sea) trip to Long Island. We chose Long Island because there were about five to ten boats of the specific make and model we were targeting for sale at various boatyards and dealerships there. Also, Skip summered on Shelter Island, NY and knew the area well. After looking at the first couple of boats, Skip suggested we come up with a back-of-the napkin scoring sheet. We graded each boat based on overall condition, hours on the engines, and an assortment of other factors. For … [Read more...]
The $18 billion Name
Here’s a head-scratcher. Google announced on Monday that it was changing its name to Alphabet and redoing its organization chart. Seriously, Alphabet? Yup, Larry Page, the company’s CEO said they chose Alphabet because “it means a collection of letters that represent language, one of humanity’s most important innovations.” Mr. Trump might say that name is weak and stupid—I’d say it’s a bit corny too. Alphabet will be the holding company for all of old Google’s businesses. The Google name will now be used for Google’s main business lines (you know the only ones that make money like Search … [Read more...]
Richard Russell on the Bull Market
Richard Russell continues to get the job done at age 91. Here he talks about Monday's market gains. Everything that I read regarding the US economy is bullish. The only newspaper that dares to publish bearish comments on the US economy is Investor’s Business Daily. The mass of comments about the US economy is so lopsided, it makes one wonder if supply and demand has given way to Fed manipulation. I find myself wondering whether the stock market still retains any forecasting ability. But let’s face it: the stock market is all that we have to go on. As I write, one hour before the close, … [Read more...]
The Biggest Losers
We covered some of the biggest winners in the S&P 500 YTD in a prior post. Which companies are the biggest losers YTD? Below is a list of the 10 worst performing stocks in the S&P 500 so far this year. At the top of the list is Keurig Green Mountain Coffee. Apparently single serve coffee has had its best days? Also on the list are five companies in the commodity production or services business. That’s no surprise considering the bear market in commodity stocks. For the contrarian minded this is where you want to be looking for future opportunities. Also on the list are Michael Kors … [Read more...]
Happy 91st Birthday Richard Russell
Richard Russell has been publishing Dow Theory Letters since 1958 and writes at dowtheoryletters.com. He turned 91 in July and writes about the markets and life on a daily basis. Here is my all-time favorite piece. Happy 91st Birthday Mr. Russell. RULE 3: RICH MAN, POOR MAN: In the investment world the wealthy investor has one major advantage over the little guy, the stock market amateur and the neophyte trader. The advantage that the wealthy investor enjoys is that HE DOESN'T NEED THE MARKETS. I can't begin to tell you what a difference that makes, both in one's mental attitude and in the … [Read more...]
Services Sector Booming
The ISM Non-manufacturing report on business shows that the services sector of the economy is booming. In July, the ISM services index hit its highest level since 2005 and its 4th highest level on record. Among the sub-components, business activity, new orders, and employment were all strong. About 80% of U.S. economic output comes from the services sector. … [Read more...]
My Sig Sauer 226
One takeaway from my recent visit with my friends at White Mountain Firearms in North Conway, New Hampshire is that guns and ammo aren't getting any cheaper. My favored Sig Sauer 226 MK 25 chambered in 9mm is about 25 percent more expensive than it was five years ago. But I've invested a lot of time and energy becoming proficient in this particular model, so I purchased another. And I view my recent purchase as a collector, because it adds value to my situation. Often times the best investments are made when making a profit is the last thing on your in mind. … [Read more...]
The Monday Melee: Where Gas is Drilled and Burned
Where Gas is Drilled: Where Gas is Burned: Via Vox.com How it Gets There: Natural Gas from Shale: … [Read more...]
The 2% Economy
The latest GDP report came out yesterday and it showed economic growth of 2.3% in the second quarter. First quarter GDP was revised up from a drop of .2% to a gain of .6%. Yesterday’s release also included the BEA’s (Bureau of Economic Analysis) annual revisions to GDP. The annual revisions incorporate newly available, more accurate, and more complete source data. What did the revisions show? This won’t come as a surprise to Mom and Pop on Main Street, but economic growth over the last few years was weaker than originally reported. The compounded annual growth rate of GDP from 2011-2014 was … [Read more...]
Wisdom from The Intelligent Investor
Wisdom from Benjamin Graham’s The Intelligent Investor, first published in 1949: The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should … [Read more...]
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