“The macro environment grew more challenging after the holidays. Our post holiday results are not going to be what we originally expected.” – Jim Muehlbauer, Best Buy Enterprise CFO (interim) The stock that probably colored the market action today the…
I almost couldn’t believe it. When I woke up this morning and opened up our accounts I saw Comcast (CMCSA) stock up something on the order of 7%. Really not used to seeing that kind of thing. Looking at a…
Today in Washington was Day 2 of hearings on “The Mitchell Report: The Illegal Use of Steroids in Major League Baseball”. It started at 11am EST and ended about an hour ago. I was able to watch some of it…
This morning before the open Notable Calls, a blog on my blogroll that focuses on notable calls from the Wall Street analyst community, put up a post “Blue Nile (NILE): Bounce @ $40?” (For some reason I can’t get the…
“The January retail sales data is not consistent with either same store chain sales or total vehicle sales during the sampling period.” – Joseph Brusuelas, IDEAglobal The surface rationale for today’s move is a stronger than expected January Retail Sales…
“We knew that this was a make or break Christmas. We didn’t make it.” – Don Snyder, owner Carousel Toy & Party After a 15 percent drop in revenue in 2007, Don Snyder, owner for 27 years of Sacramento toy store Carousel Toy…
BusinessWeek put up an excellent article giving an overview of some of the most popular currency ETFs yesterday: “Smarter Ways To Make Currency Plays”. It covers the popular CurrencyShares Japanese Yen Trust (FXY), CurrencyShares Euro Trust (FXE) and the PowerShares…
On December 31st I wrote a post titled “CDSs: What Everybody Will Be Talking About In 2008”. As I explained in that post, a CDS is essentially an insurance policy against the default of a bond. An investor might buy…
With the Nasdaq and Russell about 20% off their highs and the Dow and S&P 15% off, valuations reasonable (“A Contrarian’s Way To Play Recession”, Barron’s interview with T. Rowe Price Capital Apprecation Fund portfolio manager David Giroux (subscription required), Friday February 8;…
That path of least resistance is down as very few appear to be in the mood to buy. Tim Knight compares the day’s action to “Fog”. With almost everybody now forecasting or believing we are in a recession (“Economists Raise…