SeekingAlpha
- FuelCell CEO Discusses Q3 2010 Results - Earnings Call Transcript
- FuelCell Energy Inc. (FCEL)Q3 2010 Earnings CallSeptember 2, 2010 10:00 AM ETComplete Story »
- Fighting the Last War
- Historians would be very familiar with one of the great investor myths. Any historian knows that history is just a rough guide to the future and that it does not repeat itself. Yet investors all over the world are desperately
- BHP Billiton: Earnings Scorecard
- Zacks.com submits: BHP Billiton Ltd. (BHP) reported better-than-expected results for fiscal 2010 with an EPADR of $4.47, much above the Zacks Consensus Estimate of $3.54. The gradual recovery in market demand as well as
- Wynn Resorts: All Risk, No Pot
- Mercenary Trader submits: By Mike McDermott I have tentative plans to play poker at the Wynn, Las Vegas later this month. The casino is known
- Dow Dividend Stocks - Top 5 Covered Calls
- Double Dividend Stocks submits: Maybe you want to buy blue chip Dow dividend stocks, but you don’t have much faith in price appreciation, given the market’s performance in 2010 thus far. Selling covered calls often allows you to lock in
- A Tale of Two Volatilities
- optionMONSTER submits: By Chris McKhann The Short Term VIX futures ETN (VXX) has dropped to the lowest level since April, even though the volatility index it tracks is little changed in the last four weeks.Complete Story »
- Pending Home Sales Surprise, But Factory Orders and Jobless Claims Come in as Expected
- No description.

Blogging Stocks
- ADP: Sideways Action Continues
- Filed under: Automatic Data Proc (ADP), Stocks to BuyAutomatic Data Processing (ADP), which I first wrote about on May 8, 2009 at a price of $36.84, continues to meander at/near $40, but
- The TJX Companies: A Retail Shining Star
- Filed under: Stocks to BuyRetailer The TJX Companies (TJX), first discussed here on May 12, 2009 on $28.13, has pulled-back after flirting with highs near $50 earlier this spring, but just view
- Nordstrom August Sales Beat Estimates
- Filed under: Major Movement, Good news, Options, Technical Analysis, Nordstrom, Inc (JWN)Nordstrom (JWN - option chain) shares are rising today after the company said its August same-store sales rose 6.3%, topping
- Time to Ride a QUALCOMM Straddle?
- Filed under: QUALCOMM Inc (QCOM)Qualcomm Inc. (QCOM) may be at a tipping point right now. And for a stock that has seen four big price gaps during 2010, the move could be
- Rogers: U.S. Should Adopt Austerity Measures
- Filed under: Market Matters, Personal Finance, Federal Reserve, Financial Crisis, CurrencyJim Rogers, chairman of Rogers Holdings, has long advocated fiscal conservatism. In a recent interview for CNBC, he told the U.S.
- Driving with Ford (F): A Favorite Speculation
- Filed under: Ford Motor (F), Newsletters, Stocks to BuyWe do have a select number of speculative stocks and growth funds in our portfolio; among them, my favorite is Ford Motor Co.
- Higher Meat Prices Are Fueling Food Inflation
- Filed under: Consumer Experience, Economic Data, Commodities, Federal ReserveWhat is happening in the cattle market is directly affecting food prices at your local supermarket. Here are some upsetting numbers. Global meat prices

The Kirk Report
- Last Weekend's Chart Show
- You see, even a blind squirrel can find an acorn once in a while... This was an archived video of my weekend chart show that I provided for members last Sunday. A number of members have found my videos helpful...
- Q&A With James Altucher
- It is with great pleasure that I offer this interview with James Altucher. James has been one of the most outspoken bloggers and traders of our generation and, as a consummate contrarian, his opinions frequently fly opposite to conventional wisdom....
- Justification Mode
- Earlier this month I shared a quote in the email newsletter that seems to have struck a strong cord with a few of you... The ego is not your friend as a trader. The ego wants to be right, it...
- Happy Birthday Mom!
- Im spending the week with Mom here in Utah to celebrate her 70th birthday! If youve never been to Zion, it is a wonderful place to go during your summer travels!
- Everything Evens Out
- Good breaks. Bad breaks. We all have them, dont we? Thinking back to the past six months, this has been an unusual year for me both in the markets and on the golf course. So far in 2010, for whatever...
- Independent Trading: Pros & Cons
- Sunday was Independence Day in the United States where we celebrate the birth of our country and declaring independence from Britain. It also got me to thinking, as I usually do on market holidays, how fortunate I am to be...
- Happy 4th!
- I hope you and your family have a Happy 4th of July! As a quick update, Im still working on several summer projects (trading, strategy development, mentoring, website upgrade), but regular posting (and an entirely new website) will return by...

Footnoted.org
- Having it private equity’s way at Burger King …
- What with the generic names that hedge funds and private-equity shops adopt these days, it’s not too surprising that the suitor of Burger King Holdings (BKC) was confused briefly with 3i, the U.K. private-equity shop that boasts £9.6 billion under
- Paying more than necessary at Meredith…
- The publishing world buzzed at Meredith Corporation’s (MDP) August 2 announcement that John H. (Jack) Griffin, Jr., the President of its National Media Group, was leaving four days later “to pursue another opportunity.” News leaked – even before an official
- Double dipping in the filings…
- Hardly a day goes by without hearing somebody’s opinion on whether we’re headed for a double-dip recession. Last week, it was Fed Chief Ben Bernake saying he would do whatever he could to avoid the double dip, which as this
- Maybe a little too simple at Sysco …
- That’s the cover of the new ethics policy at Sysco (SYY), the big food-service company. The company filed it with the Securities and Exchange Commission on Tuesday afternoon, several hours after filing its 10-K. In the 8-K that included the
- Iran sanctions and PerkinElmer …
- The U.S. has restricted a slew of exports to the Islamic Republic of Iran. So when The Australian published an article (payment required) last spring describing a trade-show booth in Tehran that was showcasing an atomic absorption spectrometer made by
- CenturyLink’s execs are paid to stay…
- CenturyLink (CTL) got some attention last week for an 8-K it filed, reporting that shareholders of CenturyLink and Qwest Communications International, Inc. (Q) overwhelmingly approved a merger proposal. But the company also filed a second 8-K, which received no real attention, even though
- 3Par’s blizzard of filings continues…
- This morning, at a few seconds after 7 a.m., 3Par (PAR) filed its 29th document since the beginning of what we’ll cheekily call the post-nup period when the deal between 3Par and Dell (DELL) was announced publicly. This morning’s entry

TraderFeed
- Core Ideas in Trading Psychology: Identifying Historical Patterns in Markets
- Previous Posts in This Series:Market Structure and Adapting to Market ChangeImplicit Learning and Somatic MarkersMirrors and Corrective Emotional ExperiencesSolution Focused ChangeChanging Problem PatternsTrading as a Performance ActivityIntroduction to Trading PsychologyOne of the core themes that runs through the TraderFeed blog
- Trading and Poker: Reaching the Next Level of Success
- Well, thats another way poker might be like trading: Its easy to participate, difficult to sustain success. Many just play
- Core Ideas in Trading Psychology: Market Structure and Adapting to Market Change
- Previous Posts in This Series:Implicit Learning and Somatic MarkersMirrors and Corrective Emotional ExperiencesSolution Focused ChangeChanging Problem PatternsTrading as a Performance ActivityIntroduction to Trading PsychologyA key idea running through the TraderFeed blog as well as my books on trading psychology is
- Core Ideas in Trading Psychology: Implicit Learning and Somatic Markers
- Previous Posts in This Series:Mirrors and Corrective Emotional ExperiencesSolution-Focused ChangeChanging Problem Patterns BrieflyTrading as a Performance ActivityIntroduction to Trading PsychologyPerhaps the most common psychological change that traders need to make is the ability to quiet their minds and focus their
- Using Twitter for Reader Updates
- As noted a little while ago, I am in the process of winding down the TraderFeed blog. My continued thanks to supportive readers; I do intend to keep the blog up as an archive for future reference. In addition, before
- Core Ideas in Trading Psychology: Creating Change Through Mirrors and Corrective Emotional Exp(...)
- Previous Posts in This Series:Solution-Focused ChangeChanging Problem PatternsTrading as a Performance ActivityIntroduction to Trading PsychologyWhen people find themselves locked into repetitive patterns of thought, feeling, and/or behavior that interfere with their lives, how do they escape? As all too many
- Core Ideas in Trading Psychology: Solution-Focused Change
- Previous Posts in This Series:Changing Problem PatternsTrading as a Performance ActivityIntroduction to Trading PsychologyOne of the key themes running through the TraderFeed blog, as well as the books that Ive written on trading psychology, is that effective change comes from

Random Roger's Big Picture
- A Real Black Swan...
- ...If it is true which I cannot vouch for but this is fascinating and something I have to say I have never thought of. A reader who goes by the name Paul H. M. at Seeking Alpha left the following
- Fixed Income Free For All
- A few observations about the fixed income market.FT Alphaville had a post yesterday that recapped a paper that explored whether or not there is actually enough investment capital in existence to buy amount of debt the US treasury will have
- China & Investment Process
- China has obviously been playing an increasingly larger role in the world economic order which has caused a lot of excitement about the country as an investment destination. The results from investing in China have ebbed and flowed of course
- Market? Up Of Course!
- Apparently it is all good!Hollah!
- Cycles and Risk
- The segment on CNBC, right before the close yesterday, featured commentary from Rick Bensignor and David Darst. There were a couple of points made in the segment that seem to have been accepted as truthisms that I think are actually
- What To Do About Increased Correlation
- There has been a report floating around from State Street that included the following interesting nugget about correlation;When returns (utilizing US and non-US equity markets) are greater than one standard deviation above the mean, the correlation is 17%. However, if
- ETF Filings Portfolio
- A thought occurred to me the other day as I was looking at the filings page on the IndexUniverse weekly ETF Watch. It might be interesting to create a portfolio from some of the funds that are in registration. To

Ticker Sense
- Good Start to the Month
- The S&P 500 had a solid start to the month of September, gaining almost 3% yesterday. We found 23 other months since 1962 that had a gain of at least 2% on the first trading day. On average, the market...
- Would You Have Bought This Morning's Open?
- This morning Birinyi Associates advised its premium clients to buy the open. We analyzed days where futures were up at least 1% at 8:00 and found that on average the S&P 500 goes up 1.7% from its 9:30 open and...
- September Following a Weak August
- It is fair to say that this August has been a weak month for the market. The S&P 500 is down 4.7% MTD. We examined similar months of August, since 1928, to see if it gave us any indication of...
- Telecoms: Overbought & Outperforming
- The telecom sector is overbought, 0.3% above the upper end of its trading envelope. The sector is up 2.3% MTD while the S&P 500 is down 3.4%. Year-to-date telecoms have outperformed the market by 2.8%. There are only nine stocks...
- Market & Sector OBOS
- For an explanation of our Sector Timing Model click here. To begin the week, the financial and technology sectors are oversold. The telecom sector is overbought.
- August 30th Blogger Sentiment Poll
- Bloggers were undecided again this week, but the bias was positive. Blogger Sentiment Poll Participants: 24/7 Wall St (N) Carl Futia (+) Dash of Insight (N) Elliot Wave Lives On (+) Fallond Stock Picks (-) In the Money Learning Curve...
- Busy Week for Economic Indicators
- The jobs numbers on Friday will probably the most watched this week.

Gannon On Investing
- Suggested Link: Charlie Munger Op-Ed
- Warren Buffetts business partner, Charlie Munger, writes an op-ed in the todays Washington Post.Read How We Can Restore Confidence by Charlie Munger.
- On the Geithner Plan
- Yesterday, the stock market tanked as Treasury Secretary Geithner outlined his financial stability plan. Blogger Felix Salmon noticed the mirror image:“I like the symmetry here. On November 21, when Barack Obama announced that he was nominating Tim Geithner to be
- On the President's Address
- President Obama spoke about the economy last night. I am not a political commentator, so I may not be able to correctly score the politics of the fight.The President began by painting gloomy word pictures of a Depression – without
- New Podcast Episode: Friday, February 6th, 2009
- A new episode of the Gannon On Investing Podcast is now available.
- New Podcast Episode: Thursday, February 5, 2009
- A new episode of the Gannon On Investing Podcast is now available.
- New Podcast Episode: Wednesday, February 4, 2009
- A listener asksMuch of the focus in value investing texts is on finding the rightcompany at the right price, very little time is spent discussing whento sell. Since the decision to sell is contextual to each investment Iwould like to
- New Podcast Episode: Tuesday, February 3, 2009
- A listener asksHow can I apply the concept of intrinsic value to currencies in my international investments? I know how to handle business risk and market risk - but how can I apply the principles of value investing to exchange

Value Discipline
- The Developing Compensation Philosophy of the Treasury Department
- Here is a link to Gene Sperlings opening statement: http://www.treas.gov/press/releases/tg166.htm#_ftnref3There are some very interesting quotes that help to frame Treasurys philosophy re systematic risk and executive compensation in this statement.Compensation structures that permitted key executives and other financial actors to
- Executive Compensation-Government is Not Going Away
- Corporate governance is a topic that many of us tend to ignore, leaving it to the institutions or corporate raiders that are looking to influence the strategic direction, the capital allocation, the corporate structures or the compensation structures of business.Yet,
- Tiffany & Co-Valuation Seems Generous to Me
- On Monday, Tiffany & Co reported what seemed to be somewhat disappointing earnings of $1.09 versus a street consensus of $1.13. TIF actually has had a fairly good history of positive earnings surprises in recent quarters (data courtesy of Reuters):Quarter
- Traits of the Successful Investor and the Changing Nature of Brand Loyalty
- The year 2010 seems to be progressing as a positive experience following the shaky start in January. The subsequent rally that has transpired since that time has caught many people flat-footed, but that is the price of erratic trading. Most
- Pantry Gets a Heads-Up from the Globe
- The Pantry just received a mention in a blog that is part of Torontos Globe and Mail, essentially Canadas version of the Wall Street Journal.The article, On the Hunt for the king of value factors highlights price to sale ratios.
- Is "The Pantry" Bare?-Piotroski Says No
- You cant buy what is popular and do well is one of the great Warren Buffett quotes. Though over time, I have learned to be far more comfortable investing in quality businesses that throw off lots of free cash flow
- A Report from Today's Citigroup Meeting re Governance
- Corporate governance has always been an important part of value investing. Obviously, most of us hate waste when precious company resources are squandered to build executive dreams rather than shareholder capital. Misallocation of capital and failure to optimize returns on

NO DooDahs!
- Automotive Annoyances
- A few things that bothered me yesterday about the news coverage of the pending bailout for domestic auto(loan)makers.“GM makes cars nobody wants” Vs. “GM sold __ million cars in the U.S. in the last __ years”“Nobody wants” is an exaggeration,
- Buy-A-Bank Bailouts
- The Hartford (HIG), a.k.a. “The Neutered Stag,” has pulled a fast one! They bought a bank, just in order to get bailed out.In some bizarre way, this multi-national, multi-billion-dollar insurer can buy some tiny, eleven-branch-having, single state bank off of
- Busy With Other Projects, Back Again Soon
- No description.
- Updates at The Rempel Report
- Still no Timing signalValue Portfolio updatePersonal returns for October 2008
- Piece of the Rock Randomosity
- Get it, baby! Get a piece of the rock! Prudential Financial (PRU) reported yesterday. Lots of ways to put lipstick on this pig, and turn a loss per share into a “
ModernGraham.com
- Updated Valuations – Week of 2/22/10
- You can view more company valuations by visiting the valuations database in the navbar. There are 145 companies in the database including all 30 components of the Dow Jones Industrial Average!Due to the increasing number of companies in the database
- Updated Valuations – Week of 2/15/10
- You can view more company valuations by visiting the valuations database in the navbar. There are 145 companies in the database including all 30 components of the Dow Jones Industrial Average!Due to the increasing number of companies in the database
- Updated Valuations – Week of 1/4/2010
- You can view more company valuations by visiting the valuations database in the navbar. There are 145 companies in the database including all 30 components of the Dow Jones Industrial Average!Due to the increasing number of companies in the database
- A Look Back on 2009 for Modern Graham
- 2009 was a record year for Modern Graham. With over 40,000 visits from over 28,000 unique visitors, more people visited the site than any year before. Now that the year is over, it is time to look back on what
- Added and Updated Valuations – 12/29/09
- I didn’t have time to add any new companies to the database due to the holidays, but you can view more by visiting the valuations database in the navbar. There are 145 companies in the database including all 30 components
- Added and Updated Valuations – 12/21/09
- This is a day late, and it includes a few companies that were scheduled to be updated last week. For those readers who don’t know, I’m currently in law school – and had exams the last couple of weeks. As
- Festival of Stocks #172
- This week we have the honor of hosting the 172nd edition of the Festival of Stocks. According to the festival’s original sponsor, ValueInvestingNews, “The Festival of Stocks is a blog carnival dedicated to highlighting bloggers’ best articles on stock market

Stock Market Beat
- Truck Tonnage Index
- Truckline.com ArticleCompared with October 2008, SA tonnage fell 5.2 percent, which was the best year-over-year showing since November 2008. In September, the index was down 7.3 percent from a year earlier.
- Corporate Cash Flow
- St. Louis Fed: FRED Graph
- Corporate Profits
- No description.
- Capacity Utilization
- St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry
- Capacity Utilization
- St. Louis Fed: FRED Graph
- Corporate Profits
- St. Louis Fed: FRED Graph
- Capacity Utilization
- St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry

Berkshire Ruminations
- Buffett was wrong about this one. (Unfortunately it is the most important one of all.)
- This is an issue that has become very important to me lately, and I hope readers will be patient and read through my thoughts. It is not a pleasant topic and most people would prefer to pretend the problem doesn’t
- At what point does Berkshire get "stupid cheap"?
- I own a lot of Berkshire stock. I don’t like seeing it go down because I don’t have a lot of liquidity at the moment, otherwise I would welcome the buying opportunity. But this begs the question, is this indeed
- RBP Investing Update
- Back in June I mentioned on this blog that I had started working for a company called Transparent Value, which developed the Dow Jones RBP Indexes based on their proprietary methodology called Required Business Performance, and that I had been
- Fundamental Value Investors: Characteristics and Performance
- My good friend Wes Gray and I recently wrote an academic paper about value investors. Wes is a fellow coauthor mine over at the Empirical Finance Research blog. In our paper we analyze the investment recommendations on the website Value
- Doing the math on CEG (back of the envelope)
- I post this not as any type of authority, but just to figure it out for myself. Can anyone explain better than I have here why CEG stock fell yesterday?This past summer MidAmerican Energy agreed to acquire all outstanding shares
- Thoughts on a Big 3 "Bailout"
- With so much talk, debate and controversy over the idea of “bailing out” the Big 3 automakers, I find it amazing that so little of this discussion has been on the topic of bankruptcy. The media, congress and the Big
- Merger Arbitrage Mania!
- I haven’t heard a lot of discussion about this, so I thought I would put my thoughts down on this blog, because to me the phenomenon is pretty obvious. There is some serious value out there right now, and for
