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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.

Doubting the Decade of the Franc: Dr. Duru submits: The Swiss franc is back to all-time highs against the euro, and the extrapolations have begun. This morning, Bloomberg reports that UBS expects the franc to remain strong for the entire decade:The Swiss franc will stay strong

Art Cashin: ISM May Be Revised Down: Andrew Horowitz submits: This morning, David Rosenberg had a few notes of his own on the ISM numbers. He is skeptical, as he has been for a couple

I Want My Salesforce.com: Trader Mark submits:Aside from the David Hasselhoff roast, this might be the funniest two minutes of video Ive seen in the past six months.It is especially ironic because (a) in my personal life Ive tried to short Salesforce.com (CRM) over

Recent Rail, ISM Reports: Is Economic Activity Increasing or Decreasing?: Todd Sullivan submits: Theres no way to spin this into bad news… Here is the chart: The “good news behind

Is Asia’s Economic Rebound Sustainable?: Investment U submits: By Tony D’AltorioThe United States is fretting about the possibility of a double-dip recession. Europe is looking for signs of the next sovereign debt default crisis. And Asia…Complete Story »

Good News: A Declining Gold Indicator: Hard Assets Investor submits: By Brad ZiglerThe past few weeks have been bullish for gold, in its bullion form and as an embed in mining stock prices. Weve touched on the differential volatility of bullion and mining stocks before, most

Barclays VEQTOR ETN: S&P 500 With a Volatility Hedge: Ron Rowland submits:Barclays yesterday (9/1/2010) launched the Barclays ETN+ S&P VEQTOR ETN (VQT) exchange-traded notes (ETNs) that are linked to the performance of the S&P 500 Dynamic VEQTOR Total Return Index (press release). Barclays takes “dynamic indexing” to a new

Cisco Takes Aim at Silver Spring With Arch Rock Purchase: Greentech Media submits: by Michael KanellosThe brewing competition between Cisco (CSCO) and Silver Spring has just lost its subtlety.Complete Story »

The Dreaded Double Dip: Are We Even Out of the Recession Yet?: Julian Marchesesubmits:There has been a lot of talk about the economy going into a double-dip, with all this flash crash and stock market correction hysteria. However, the real question is, are we even out of the recession yet? Well, lets

Apple: New Pie, Old Recipe: Zacks.com submits: Apple Inc. (AAPL) refreshed its iPod line, introducing new features to the iPod Touch, iPod Nano and iPod Shuffle at its event held in San Francisco yesterday. Apple also introduced iTunes 10 with Ping (quite unexpectedly), a social

Don’t Sell Till You See the Whites of Their Socks: Macro Man submits: Labor day is unofficially the end of the summer in the US financial markets; so, although the UK and Europe are returning to work (the rest of the world never stops working we know), in this vacuous

How to Trade the Gold / Silver Spread: Hard Assets Investor submits: By Brad ZiglerIn my refrigerator, a jar of something called "sandwich spread" has been lurking for weeks. I honestly dont know how it got there, but I suspect one of my Canadian friends whos been invited

As JDS Enters CPV Market, Will It Ever Take Off?: Greentech Media submits: by Eric WesoffThe concentrated photovoltaic (CPV) market has been long on promise and short on results. But there have been a few hopeful signs of late.Complete Story »

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

Analyst Calls: BSX, FORM, HPQ, JACK, MCO, NFLX, PPL, RTP, VALE ...: Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Hewlett-Packard (HPQ), Netflix, Inc. (NFLX), Boston Scientific (BSX), Analyst Initiations, Rio Tinto plc ADS (RTP)Analyst Upgrades JMP Securities upgraded Hewlett-Packard (HPQ) to outperform from

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Cisco to Buy Smart-Grid Operator Arch Rock: Filed under: Competitive Strategy, Cisco Systems (CSCO)A company the size of Cisco (CSCO) needs to find massive market opportunities. So why not the electric grid? No doubt, it needs lots

Are We in a Recession or a Depression?: Filed under: Forecasts, Market Matters, Economic Data, Federal Reserve, RecessionAre we in a recession or a depression? A recession usually means a temporary dip in an otherwise growing economy. A depression is

Cushing MLP Total Return: Partnership Profits: Filed under: Newsletters, ETF Investing, Commodities, Oil, Stocks to BuyThe Cushing MLP Total Return Fund (SRV) is a closed-end fund that invests in master limited partnerships (MLPs), MLP bonds, and natural resource

India Imports More Gold Despite Higher Prices: Filed under: International Markets, Forecasts, India, CommoditiesHigher prices are not keeping gold buyers away in India. This year it is estimated that India will buy between 600 to 625 metric

TD Ameritrade: How Does the Stock Look?: Filed under: Charles Schwab Corp (SCHW), E*TRADE (ETFC)TD Ameritrade (AMTD), a broker whose competitors include Charles Schwab (SCHW) and E*Trade (ETFC), closed Wednesdays session higher by 2%. The final quote

Looking For A Bounce? Buy Big Cap Tech (CSCO, MSFT, INTC, HPQ, DELL): If you are bullish on stocks going into September, the place to be is the big cap technology sector. These stocks are downright cheap. If the market falls, they will likely get

Dell: Buy or Sell?: Filed under: Deals, Apple Inc (AAPL), Dell (DELL), Hewlett-Packard (HPQ), International Business Machines (IBM), TechnologyThe recent news about Dell, Inc. (DELL), Hewlett-Packard Company (HPQ), and 3Par, Inc. (PAR) is pretty interesting. Check

Options Update; Apple options active as shares rally on iPod and TV: Filed under: Apple Inc (AAPL), Options, OilApple (AAPL) closed up $7.50 to $250.56 as Steve Jobs announces newest AAPL innovations. AAPL option volume of 231K contracts. September put option implied volatility is at 26, January is at 36, verses its

For Dow Clues, Monitor U.S. Job Growth: Filed under: Forecasts, DJIAThe obvious question many investors will ask, amid a Dow that surged ahead 200 points or so on Thursday, is Does this mark a turning point for the market?

The Case for $10 per Barrel Oil: Filed under: Market Matters, Commodities, OilSpeaking to CNBC, Peter Beutel makes his case for $10 per barrel oil. Here are some his stats to back up his analysis: We have more oil

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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...

Summer Fun: A quick update for non-members... While I continue update the members only website frequently (premarket report, after-hours report, weekend links, screens, etc.) Ive been slacking here at the free site for awhile. Sorry about that! While not an excuse, my...

Learn To Love Uncertainty: It is often said that markets hate uncertainty and it is true. We do live and trade in uncertain times. But, as traders and investors, we must all learn to love and appreciate uncertainty. With uncertainty, also brings opportunity. Understanding...

Memorial Day: In memory of my late father who served honorably in Vietnam... I would like to send a thank you to all those who gave their lives in service of our country.

Darren Miller: Darren Miller from Attitrade and Psychtrader will be here at 12:PM ET to take our questions. To attend the session live (or read it later) please visit the following link: Strategy Session: Darren Miller Many of you already know Darren,...

A Quick Clip: Every morning I prepare a premarket report that thousands of traders find useful at the members only website. Heres a quick clip of this mornings report: If you think information like this would be helpful to you to navigate days...

Stubborn Determination & Confidence: Q: Between your friends in the business which I know are many and through your mentoring have you discovered one personality trait common among the most successful? A: I think Dr. Bretts post on personality and trading success confirm what...

Eddy Elfenbein: Eddy Elfenbein from Crossing Wall Street will be here at 12:PM ET to take our questions. To attend the session live (or read it later) please visit the following link: Strategy Session: Eddy Elfenbein Eddy has become one of the...

Focus On What Matters: Q: Like countless traders, I saw many of my positions stopped out last week, only to see them rebound to at or near where they were before the flash crash (e.g. AAPL). As you reflected in your recent comments, traders...

Everything You Know Is Wrong: I had a beloved professor in law school who would say that it is important to have a good forgettory. In other words, he thought it was an distinct advantage to have forgotten what you have already learned so that...

Weekender: A few of my favorite links to review over the weekend... Markets by the numbers (MarketBeat) Investor fears outweigh stunning earnings gains (USA Today) This weeks top stories (Street Insider) Other than the Friday jobs report, what on tap for...

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

Climate change, baked goods and Sara Lee …: Tuck into that buttery pound cake and those Jimmy Dean sausages while you can. Because in addition to rising sea levels and disappearing species, global climate change — or at the very least, governmental efforts to mitigate it — could

A nice send-off from AXIS Capital…: Maybe it’s something in the water? A couple of days ago, we reported the multi-million dollar departure of an executive from a Bermuda-based energy company. Today’s post – about a different company headquartered on the tiny island – also involves

No rockem and sockem in Dell’s 10-Q:: Was it really only the beginning of last week that Dell (DELL) announced plans to buy 3Par (PAR)? My how time flies! Since then, it’s been hard to keep up with the near hourly updates on the tussle between two

Security at McAfee not just for computers…: We’ll leave it to the pundits to determine whether or not Intel Corporation’s (NASDAQ: INTC) proposed $7.7 billion acquisition of McAfee, Inc. (MFE) is a wise move. But regardless of the answer, the deal offers some nice rewards to some

A modest agreement at International Rectifier …: We don’t hesitate to call companies out for giving former directors and executives lush consulting contracts. Look no further than Northrop Grumman, Acxiom and Boeing, among others. Now we come across a consulting contract we might even like: One filed

Energy XXI exec leaves, but not empty-handed…: Just over a month ago, Energy XXI (Bermuda) Limited (Nasdaq: EXXI) announced a management realignment. Headquartered in Bermuda with an office in Houston, the company’s stated goal is to “acquire and exploit producing oil and gas reserves,” primarily in the

Inching toward reform at Costco …: It’s a bizarre fact of American business that directors can stay on corporate boards for years after shareholders have resoundingly rejected them in an annual vote. (As we footnoted here, just look at Cablevision) So we were at first happy

Dollar Thrifty’s merger hits an operatic note…: There were times when passages in the merger proxy that Dollar Thrifty Automotive Group, Inc. (DTG) filed August 17 read more like a libretto than an SEC filing. The classic operatic themes are there: money, multiple suitors, commitment issues, and

Leaving some wiggle room at United …: When United Airlines and Continental were rumored to be tying up, we took a look at the sweet change-in-control benefits that United executives stood to receive. After some brouhaha, it was announced that United’s chairman and chief executive, Glenn Tilton

Warning: Social media at Estee Lauder…: Corporate lawyers aren’t known for being early adopters, whether of cutting-edge technology or zippy new buzzwords. As a result, company filings may be one of the last places to spot new trends. So we’re assuming that a recent sighting means

Getting the rock star treatment from Office Max…: Although most of us will probably never know what it’s like to be a bona fide rock star, two named executive officers at OfficeMax, Inc. (OMX) got what looks like rock star treatment to us. In an 8-K the company

McAfee’s pre-deal grant to CFO…: Yesterday saw news of another big merger: the tie up between Intel (INTC) and McAfee (MFE). Between the news release and the conference call and various other merger documents, we counted 13 different filings yesterday. And that’s just McAfee’s filings.

A look at time, money, and Argo Group’s filings…: Friday the 13th may be unlucky for some, but it turned out well for Mark E. Watson III, the president/CEO of Argo Group International Holdings, Ltd. (AGII). At 5:27 p.m. that day, Argo Group filed an 8-K to disclose its new

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

End of the Week Readings: * What distinguishes successful traders;* Investors not pricing in risks in muni market;* ECB may face dilemma re: raising rates;* Strategies for hedging inflation risk;* Making the case for transparency in financial reform;* More Americans counting on Social Security for

One Good Trade: One Good Trading Book by Mike Bellafiore of SMB Trading: Kudos to Mike Bellafiore, one of the principals at SMB Trading, for his forthcoming book One Good Trade. I recall

Oil Price in Euros: Yet Another Economic Challenge for Europe: Here I used a pair of ETFs: the oil ETF USO and the euro ETF FXE to estimate the movement

Core Ideas in Trading Psychology: Changing Our Problem Patterns With Brief Therapy Methods: Previous Posts in This Series:Trading as a Performance ActivityIntroduction to Trading PsychologyOne of the key themes running through the TraderFeed blog, as well as my books on trading psychology, is that changes in our behavior, thought, and emotion can be

Catching Up on Midweek Reading: * Using visualization to create change;* The importance of our attributions;* Stock market insights from Herb Greenberg;* Looking for M tops in the broad indexes;* Prospects for a second half slowdown and more fine reading;* Leveraged loans on the rise;*

Core Ideas in Trading Psychology: Trading as a Performance Activity: Prior Posts in This Series: Introduction to Trading PsychologyThere are three meta-themes that have dominated the TraderFeed blog and my three books on trading psychology. The first is that trading is a performance activity; the second is that personal and

What Competent Traders Need Most: Ive written quite a few posts to attempt to guide beginning traders. But what if youre a trader who has reached the stage of competence? Now you can consistently cover costs and sustain modest profits. How do you get to

The TraderFeed Home Page: Trading and Market Psychology Resources: Welcome to the TraderFeed blog. TraderFeed began in December, 2005 as a project to help me think aloud about trading

Best of TraderFeed 2010 - Volume Two: Trading and Market Psychology: Here is the second and final installment of TraderFeeds Best of 2010 posts. You can find the first group of best posts here. The links below cover March - May, 2010. * Suggestions for Your Trading Journal* Why I Am

Best of TraderFeed 2010 - Volume One: Trading and Market Psychology: In anticipation of winding down the blog, I assembled highlight posts from January and February, 2010, covering trading psychology and market topics:* Building Motivation Through Optimism* Changing How We Think* The Trading Process and Generating Trade Ideas* Finding Your Solutions*

Core Ideas in Trading Psychology: Trading and Self Development: This is the final post in the series summarizing core themes running through the TraderFeed blog. The other posts in the series are:Introduction to Trading PsychologyTrading as a Performance ActivityChanging Problem PatternsSolution-Focused ChangeMirrors and Corrective Emotional ExperiencesImplicit Learning and Somatic

Decision Point and the Value of Market Overview

What New Traders Need to Learn: Kudos to John Forman, who has assembled an edited volume specific to the questions most asked by developing traders. A variety of experienced traders and market bloggers have participated in the volume, offering a mix of viewpoints. It is often

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

The Big Picture for the Week of August 15, 2010: At the start of the show Power Lunch yesterday Sue Herrera rhetorically asked are we lost as a tease for a discussion to be had later in the show (that I missed). She also noted something along the lines of

Yet More Ugly Uniforms: I dont know if these are retro or not, the Orioles wore orange shirts once upon a time but not sure

More Ugly Uniforms: After reading this mornings post a colleague at the office reminded me of the White Sox wearing shorts for a very

Friday Randoms: Yesterday was the second day that the S&P 500 again closed below its 200 DMA so I put on an across the board position in the ProShares Ultrashort S&P 500 (SDS). Given the nature of the dance that the S&P

Dark Side Of The Equities Moon: Albert Edwards was quoted (or maybe paraphrased is a better word) this weekend by both Alan Abelson and Prieur du Plessis with some dire price targets for the S&P 500. Neither post provided links but there were two different numbers;

Sunday Morning Coffee: I wanted to carry the dividends idea forward a little bit. There are some enormous dividends out there to be had. What I thought I would do is construct a portfolio where for each sector there is one very high

The Big Picture for the Week of August 29, 2010: A couple of observations about a couple of individual stocks.The first stock to mention is Intel (INTC). It made news yesterday

More Bodie: There was one more point from the Zvi Bodie interview mentioned yesterday that I wanted to discuss. He feels that too many analysts only consider one scenario. In making his point he uses the example of the current debate of

Solving Our Own (Spending) Problems: Yesterday I had a quick but interesting chat with an acquaintance about spending in retirement and the issue that too many people have with spending beyond their means. In the conversation I think I hit on a couple of things

Interview With Zvi Bodie: Advisor Perspectives posted a lengthy interview with economics professor Zvi Bodie from Boston University. He has co-authored text books and has made interesting comments about asset allocation over the years. The current interview has several useful talking points.First up was

James Montier Loves Dividends: Barry Ritholtz posted a commentary from James Montier about dividends that is a useful read and has some handy data. To a large extent I am a big fan of dividends but there are limits to what they can provide.

Deflation, Is It Coming?: Yesterday was kind of an odd day around the ole blogosphere as Market Folly and ETFdatabase each ran almost the same post about how to invest in a deflationary environment. I did not see mention of a cross posting so

Middle Class: Just got back to Prescott from Oregon so I need to catch up on a few things. A reader left a

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.

Birinyi Stock Picker iPhone App!: Our new iPhone app, the Birinyi Stock Picker is now available for download! More information can be found here or search for it on iTunes.

10-Year Treasury Yield vs Dividend Yield: This month the yield spread of the 10-year treasury to the DJIA dividend yield fell below zero for the first time since Jun-09. Currently the 10-year yields 2.63% vs the 2.73% dividend yield of DJIA stocks (S&P 500 is currently...

Missed the Latest Edition of Our Newsletter?: Last evening we published our September 2010 issue of Reminiscences newsletter. Some of our thoughts were featured in a BusinessWeek article. The story can be read here. If you are interested in subscribing and receiving our monthly commentary, insight and...

Index and Sector Filter: The financial sector fell into a 10% decline yesterday from its peak on 8/2/10. Health care remains in a 10% decline which began 1/19/10, the sector is down a total of 15.3% since then.

August 23rd Blogger Sentiment Poll: Blogger Sentiment Poll Participants: 24/7 Wall St (-) Carl Futia (+) Dash of Insight (+) Elliot Wave Lives On (+) Fallond Stock Picks (-) In the Money Learning Curve (-) MaoXian (+) Millionaire Now (N) Peridot Capitalist Quant Investor (N)...

August 16th Blogger Sentiment Poll: With a perfect 33.33% division, bloggers are undecided this week. Blogger Sentiment Poll Participants: 24/7 Wall St (-) Carl Futia (+) Dash of Insight (+) Elliot Wave Lives On (+) Fallond Stock Picks (-) In the Money Learning Curve (-)...

Birinyi Bulletin: Short Sale Ideas: On Monday morning we published a Strategy Bulletin that went to our Mini-Institutional clients with a list of 22 extended stocks that we believed to be good short candidates. Since the open Monday those stocks are down an average of...

The Impact of ETFs: ETF trading averaged 9.6% of the daily total US stock volume in July. The 20-day moving average of the daily total US stock volume to end July was 14.25 billion shares. ETFs average was 1.36 billion shares. It is worth...

August 9th Blogger Sentiment: 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 (N) Learning Curve (-) MaoXian (+) Millionaire Now (N) Peridot Capitalist (N) Quant Investor...

Commodity Rally: A Good Sign?: Since the beginning of June, many of the major commodities have experienced significant rallies. Aluminum is up 20.3%, crude oil is up 11.5%, and copper is up 9.8%. During the same period stocks have only risen 3.5%. As we wrote...

Reminiscences Trading Portfolio Up 20% This Year: The trading names published in our monthly newsletter are having a stellar year and are currently up 20% in 2010. This years performance is on top of a 33% gain in 2009. Reminiscences is a subscription only service offered by...

Conviction Buy List Changes: As seen in our Daily Pre-Market Report, Goldman Sachs made some changes to its Conviction Buy List. American Electric Power (AEP) and Dow Chemical (DOW) were removed from the list and PAREXEL International (PRXL) was added. Below we detail the...

S&P 500 and Most Sectors Back Into Rally Mode: Yesterday the S&P 500 closed 10% above its 7/2/10 low thus switching the index back into what we refer to as a 10% rally. The decline beginning on 4/23/10 was first classified as a 10% decline (or correction) on 5/20/10...

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

New Podcast Episode: Monday, February 2, 2009: A listener asksWhen should you focus on free cash flow and when should you focus on earnings?I answer

On Buffett and Derivatives: Review by Geoff GannonJanet Tavakoli’s Dear Mr. Buffett is an unusual amalgam of a simple,

New Podcast Episode: Sunday, February 1, 2009: A new episode of the Gannon On Investing Podcast is now available.

New Podcast Episode: Saturday, January 31, 2009: A listener asks...You mentioned that an hour a week is not good enough for being a successful investor. My question is how much time is enough? I make an effort to read industry news articles and read several value investing

New Podcast Episode: Friday, January 30, 2009: A listener asks...1. Mohnish Pabrai is about as close to mimicking the Buffett partnership as there is out there right now. What are your thoughts on his recent change in approach to diversification? I understand that hes still remaining concentrated,

New Podcast Episode: Thursday, January 29, 2009: A Listener Asks...Im a computer programmer by trade, as such I find that most of the companies that fall within my circle of competence are tech companies. Should I be concerned about my portfolio being very (perhaps overly) concentrated in

New Podcast Episode: Wednesday, January 28, 2009: A new episode of the Gannon On Investing Podcast is now available.

On Buffett's Big Blunder: Warren Buffett is getting a lot of criticism for a big blunder. He sold put options on four stock indexes – including the S&P 500. Buffett described these derivatives in his 2007 letter to shareholders:“Last year I told you that

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

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

NCR versus Diebold: Courtesy of Seeking Alpha, I have been privileged to have been introduced to an exciting new research product called Gridstone Research. Gridstone is a new research platform that combines financial data, operational data, and unstructured textual information about a company

Techonomics and the ATM: “By prevailing over all obstacles and distractions, one may unfailingly arrive at his chosen goal or destination.”- Christopher ColumbusNeedless to say, it has been an incredibly tumultuous environment. The economic outlook, despite a few specks of light in a dark

Happy New Year!: What can be said in New Year rhymes,Thats not been said a thousand times?The new years come, the old years go,We know we dream, we dream we know.We rise up laughing with the light,We lie down weeping with the night.We

Fair Value, Mark-To-Market and Financial Reporting-Another Revision?: Less than a week to go for 2008, and the Financial Accounting Standards Board (FASB) has a proposal which it has thrown into the arena to address the problem of fair value.Mark to market accounting has stirred up a very

Happy Holidays!: A simple and sincere message to all. Heres wishing you the best of holidays in this blessed season.Wishing all of you a Happy Hanukkah, a Merry Christmas, and peace!Looking forward to 2009, a Happy, Healthy and Prosperous Year for all!Rick

Stocking Stuffers: It has been a remarkable year. It has been year that many of us would just as soon forget. The cascading effects of deleveraging have been rampant across all markets.The financial turmoil of 2007-08-09? has deeply affected households as well

The Commodity Investment World Conference-Some Observations on Commodities as a Diversifier: For two days last week, it was my privilege to attend the Commodity Investment World conference through the courtesy of Seeking Alpha. A broad spectrum of commodities markets, their economics and approaches to these markets were discussed.Commodities conferences historically have

Analysts in the Confessional: So why the lag in taking earnings estimates down? NBER yesterday declared the existence of recession, yet analysts continue to be reluctant to fess up and mark down their numbers.In an interesting article in Australias Business Spectator this morning, two

Staying in the Game: My sincere apologies to readers I have disappointed in my absence over the last several months. As our business has grown, time has certainly been at a premium and unfortunately, we have neglected our responsibilities to this blog. We hope

The Success Effect: Business and investing is all about people. Great ideas are not just about numbers, and are not just about metrics. Developing an insight

Ben Graham meets the Exchange Trade Note part II: As discussed in the previous post, Nuveen has created an interesting Benjamin Graham based index. Here is a look at the Graham Small Cap Index constituents for the Benjamin Graham Small Cap Value ELEMENTS portfolio:A O Smith CorpAdministaff IncAdtran IncAlon

Ben Graham meets the Exchange Traded Note: Exchange traded notes (ETN) are a fairly new investment product that share some characteristics of exchange-traded funds, or ETFs. They are simply direct debt obligations issued by a bank or investment firm rather than an interest in a pool of

Book Review-"Even Buffett Isn't Perfect": I am a complete sucker for investment books. My wife accuses me of owning several thousand books that have essentially the same title, usually some variant of Value Investing, valuation, or intrinsic value, or securities analysis. Of course, I have

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

Added and Updated Valuations – 12/7/09: Here are the new valuations added to our site in the past week. To view more, click on browse valuations in our navbar. We now have 145 in the database including all 30 components of the Dow Jones Industrial Average!A

Dividend Portfolio – November 2009 Update: On the first Friday of every month, we will screen our database for the 10 companies with the highest dividend yield that are suitable for the enterprising investor. These 10 companies will be placed in a mock portfolio and rebalanced

Festival of Stocks #168: This week we have the honor of hosting the 168th 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

Added and Updated Valuations – 11/16/09: Here are the new valuations added to our site in the past week. To view more, click on browse valuations in our navbar. We now have 130 in the database including all 30 components of the Dow Jones Industrial Average!RF

Enterprising Value Portfolio – October 2009 Update: On the second Thursday of every month (I know, I’m a day late…), we will screen our database for the 10 companies trading at the lowest ratio to their intrinsic value, as determined by our formula, and that are suitable

10 Dividend Companies for the Enterprising Investor – December Update: The following screen is the basis of the Dividend Portfolio. The screen is of the 140 companies in the Modern Graham valuation database’s for the top dividend payouts from companies suitable for the enterprising investor. Later today I will have

Updating Ben’s Portfolio – November 2009: On the first Thursday of every month, I plan on reviewing the portfolio and making any changes that seem necessary.You can see the portfolio in this google spreadsheet.Here’s a snippet from the construction:When constructing the portfolio, I began by deciding

Low PE Portfolio – November 2009 Update: On the first Tuesday (sorry, day late this month!) of every month, we will screen our database for the 10 companies with the lowest price to earnings ratio (ModernGraham-style) that are suitable for the enterprising investor. These 10 companies will

10 Low PE Companies for the Enterprising Investor: The bears are active even though the bulls seem to be ruling this market. The following screen is the basis of the Low PE Portfolio. I complete this screen once a month. The screen is of the valuation database’s 140

Added and Updated Valuations – 11/30/09: Here are the new valuations added to our site in the past week. To view more, click on browse valuations in our navbar. We now have 140 in the database including all 30 components of the Dow Jones Industrial Average!ATI

7 Great Amazon Deals to Give to Intelligent Investors: Today is Black Friday, one of the biggest shopping days of the year. Many stores have great deals available in an attempt to get a good start on the holiday shopping season. If you are looking for some gift ideas

Added and Updated Valuations – 11/23/09: Here are the new valuations added to our site in the past week. To view more, click on browse valuations in our navbar. We now have 135 in the database including all 30 components of the Dow Jones Industrial Average!AES

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

Another Record: Capacity Utilization: St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry

Record Territory: St. Louis Fed: FRED GRAPH

Employment: Employment Situation Summary Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employ- ment has

Capacity Utilization: St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry

Gross Domestic Product: BEA: News Release: Gross Domestic ProductReal gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 3.8 percent in the fourth quarter of

St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry: St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry

Who Madoff With My Money?: You can’t make this stuff up.On Wall Street, his name is legendary. With money he had made as a lifeguard on the beaches of Long Island, he built a trading powerhouse that had prospered for more than four decades. At

Corporate Profits: St. Louis Fed: FRED GRAPH

Capacity Utilization: Total Industry: St. Louis Fed: Series: TCU, Capacity Utilization: Total Industry

Personal Income and Outlays: Econoday Report: Personal Income and Outlays 31, 2008Personal income in September 2008 rose 0.2% from August. Real personal consumption expenditures (PCE) fell 0.4% and nominal PCE fell 0.3%. Real disposable personal income (DPI) rose 0.1% and nominal DPI increased 0.2%. The

Retail Sales: Economic Indicators.gov

Interest Rate Spreads: St. Louis Fed: Series: WBAA, Moody’s Seasoned Baa Corporate Bond Yield Series: WGS10YR, 10-Year Treasury Constant Maturity RateAccording to the latest data from the Federal Reserve, Baa corporate bonds are yielding 4.56% more than 10-year Treasuries. The chart below shows

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

Victory for Wooden Arrow Advocates: It was a glorious evening yesterday when the U.S. Senate passed its version of H.R. 1424, the package of legislation representing Congress’ half-hearted attempt to stabilize the economy. It was glorious for all those of us who have striven so

PS - Where's the hedge funds' bailout?: As the day has worn on, I am getting convinced this is political because here is what Ive been told. Hedge funds are evil. Short sellers are evil. Even the SEC is evil - and that was before it decided

Oh, so now it's the shorts' fault?: Nothing surprises me these days. But that doesn’t mean it doesn’t concern me. This short selling ban is, without question, the scariest thing to come out of the whole mess.And it is not that I don’t have perspective. The meltdown

Thoughts on Anheuser Busch and InBev: I have always had warm feelings towards Anheuser Busch. Growing up in the St. Louis area I couldn’t help it – afternoons at Grant’s Farm, countless Cardinal games at Busch Stadium and the occasional brewery tour. AB is all around

USA Today: There was a good article recently in USA Today about Warren Buffett that quotes me, among others. http://www.usatoday.com/money/markets/2008-06-04-warren-buffett_N.htm

RBP Investing: As some readers may know, I recently started writing a couple of new blogs. One is called RBP Investing. RBP stands for Required Business Performance and was developed by a company in New York called Transparent Value. RBP is a

Fox Business Network Buffett Special: I received an email from a representative of Fox Business Network telling me about the special they are doing at the meeting this weekend. I agreed to publicize it for them, but have to wonder why Liz Claman didnt request

No title

There Are too Many Bureaucrats and They Are Paid too Much: If youre sick of working hard and being productive, perhaps a job with the government is the solution. Hell, if the country is going bankrupt anyway, enjoy the gravy train while it lasts!!

Of Permanent Value - the Trilogy!: Just thought Id do my part to promote Andy Kilpatricks latest magnum opus, the 2010 edition of Of Permanent Value: The Story of Warren Buffett: A trilogy. This three-volume, 2000 page, behemoth replaces the two-volume 2008 cosmic edition that weighed

Cash For Clunkers: Here’s an idea for wealth creation that can’t fail:Let’s encourage everybody with a particular asset that has value - namely a car worth less than $4500 - to sell it to the government so the government can then destroy it.

No title: Since there is no such entity as the public, since the public is merely a number of individuals, the idea that the public interest supersedes private interests and rights can have but one meaning: that the interests and rights of

Berkshire History in the Making!: I don’t maintain this blog much anymore, but that doesn’t mean I don’t follow Berkshire Hathaway. And I would be remiss not to comment on the news I awoke to this morning. Today is likely the most historic day in

All credits go to the authors of these sites. Without their hard work Original Signal would not exist. Last updated on September 2nd 2010 21:32 | Contact