Archive for November 2009

What I’m Reading Today

November 20, 2009  ·  Category: Links
"A Crown Jewel Of Education Struggles With Cuts", The New York Times, November 20, A1 "With FHA Help, Easy Loans In Expensive Areas", David Streitfeld,  The New York Times, November 20, A1 "It was kind of crazy ...
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Top Gun FP Client Note: What The Greatest Investor In The World Is Doing Right Now

NOTE: Every week I write a Client Note for my clients.  For a limited time, I am allowing non-clients to sign up and receive the Client Note.  You can sign up at the top right ...
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Two Seeking Alpha Pieces Make The Case Against The Economy And Stock Market

November 19, 2009  ·  Category: Macro Economics, Market Commentary
"Why The Stock Market Should Crash", Charles Hugh Smith, Seeking Alpha, November 16 "Our Steroid Pumped Economy", Vitaliy Katsenelson, Seeking Alpha, November 18
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Revisiting Meredith Whitney’s WSJ Op-Ed “The Credit Crunch Continues”

November 17, 2009  ·  Category: Macro Economics
Anyone counting on a meaningful economic recovery will be greatly disappointed.  How do I know?  I follow credit, and credit is contracting.  Access to credit is being denied at an accelerating pace.  Large, well-capitalized companies ...
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WSJ Front Page: GE Pursues Pot Of Government Stimulus Gold

The government has moved in next door, and it ain't leaving.  You could fight it if you want, but soceity wants change.  And government is not going away. - Jeff Immelt, CEO, General Electric, in June ...
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Buffett Tells Charlie Rose Expecting “Reasonable Return” On Burlington Investment

November 17, 2009  ·  Category: Stocks, Warren Buffett
CHARLIE ROSE: Reasonable return is good enough? WARREN BUFFETT: Reasonable return is good enough, Charlie.  I mean, 50 years ago, I was looking for spectacular returns, but I can’t— I can’t get them.  We have— we ...
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What I’m Reading Today

November 13, 2009  ·  Category: Links
Judging from how sharply and quickly these prices have risen, it's a pretty good guess that most of the buying has not been done by long-term investors who are suddenly upbeat about the prospects of ...
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Okay Quarter At Disney

November 12, 2009  ·  Category: Macro Economics, Market Commentary, Stocks
Disney (DIS) reported earnings after the close but the numbers were distorted by an extra week in the current quarter.  Therefore, they beat on revenue and earnings but I'm not sure analysts were accounting for ...
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Judy Shelton In The WSJ: The Fed’s Woody Allen Policy

November 12, 2009  ·  Category: Federal Reserve, Macro Economics
But what if the Fed's efforts to stoke a recovery are merely creating asset bubbles in equities and elsewhere?  What if government guarantees—explicit and implicit—are encouraging high-risk investment behavior rather than restoring conditions for normal ...
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