The top 100 stock
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Latest | Highest ratedFannie Mae (FNM +6.4%) unveils a special approval process to make it easier for Florida condo buyers who don't meet requirements to qualify for funding. The initiative aims to provide support "for Florida's distressed condo market," Fannie says. The special rules come even as Fannie struggles to contain massive losses from rising defaults and foreclosures. [View news story]
Dec. same-store sales (actual vs. Briefing.com estimate), update #2:
AEO +7% vs. +2.1%.
APP -5% vs. -5%.
ARO +10% vs. +3.3%.
BJ +4.8% vs. +4.7%.
BONT -2.6% vs. -3%.
CATO +7% vs. 0%.
DDS -7% vs. -7.5%.
JCP -3.8% vs. -4.1%.
SKS +9.9% vs. +2.6%.
TJX +14% vs. +5.5%.
0 misses, 9 beats. [View news story]
Gov't handing out money willy nilly.
Oh, Joy: Joy Global Hits Buying Point [View article]
Dec. ISM Non-Manufacturing Index: 50.1 vs. 50.4 expected and 48.7 prior (>50 denotes expansion). Prices index rose to 58.7 from 57.8. Employment rose to 44 from 41.6. New orders fell to 52.1 from 55.1. [View news story]
home starts down, stock markets should begin to stall/go down, new orders down.. these should show and end to the sugar high of phantom money stimulus.
Bill Gross' January Investment Outlook: "If 2008 was the year of financial crisis and 2009 the year of healing via monetary and fiscal stimulus packages, then 2010 appears likely to be the year of exit strategies, during which investors should consider economic fundamentals and asset markets that will soon be priced in a world less dominated by the government sector." [View news story]
Disclosure: No position in AMZN, Short SPG
Gary Gensler, head of the CFTC, calls for direct regulation of derivatives dealers. "Leading up the financial crisis, it was assumed that the banks that deal in derivatives... did not need to be explicitly regulated for their derivatives transactions," but this was a "flawed assumption." [View news story]
Futures are indecisive with a slight negative tilt following further improvements in employment data from ADP and Challenger. S&P -0.2% to 1,130.50. Meanwhile, mortgage applications nudged higher even as mortgage rates continued to climb, with the 30-year fixed hitting 5.18%. [View news story]
Agri / Food / Beverage Stocks Offer Investment Opportunities Amidst Global Food Shortage [View article]
I have been reading about 20% + food inflation in India.
.. Am worried about inflation in food and energy.
WSJ editorial recaps the "Christmas Eve taxpayer massacre" at Fannie Mae (FNM) and Freddie Mac (FRE), singling out the CEOs as the "world's most overpaid bureaucrats," and saving special attention for the human resources chief at Freddie - the $2.7M-compensated Paul George: "It must require a rare set of skills to spot executives capable of losing billions of dollars." [View news story]
Our money today has zero intrinsic value. We don't have sound money hence we won't have sound government.
A Look Back at 2009, A Look Ahead at 2010 [View article]
Ben is in essence dropping money from helicopter.
Over 37 million getting food stamps. Mind you we have to borrow this money.
Interest rates should/must rise.
The Final Charts of the Decade [View article]
U.S. Debt Scheme: Is It All Just a Ponzi Scheme? [View article]
At the time of our country's founding, we had MEN who were far more righteous. The coinage act of 1792, section 19, stated:
Section 19. And be it further enacted, That
basing the coins. if any of the gold or silver coins which
shall be struck or coined at the said mint
shall be debased or made worse as to the
proportion of the fine gold or fine silver
therein contained, or shall be of less weight
or value than the same out to be pursuant to
the directions of this act, through the
default or with the connivance of any of the
officers or persons who shall be employed at
the said mint, for the purpose of profit or
gain, or otherwise with a fraudulent intent,
and if any of the said officers or persons
shall embezzle any of the metals which shall
at any time be committed to their charge for
the purpose of being coined, or any of the
coins which shall be struck or coined at the
said mint, every such officer or person who
shall commit any or either of the said
offenses, shall be deemed guilty of felony,
and shall suffer death.
Today, we try and pull this Phantom debasement BS and the man behind the curtain gets "Man of the Year" award.
Expect More Bailouts in 2010 [View article]
The soundness of a nations currency is in direct proportion to the soundness of a nations government. Daryl is right to expect more bailouts which in turn will require direct debasement of our currency.
Debasement of our currency was in 1792 in the coinage act, section 19, penalty of death. Today, it gets you the man of the year award.
Hedge fund manager Eric Sprott, whose fund returned 496% over the past nine years, says investors are delusional. "We're in a bear market that will last 15 or 20 years, and we've had nine of them." Sprott predicts the S&P will collapse below its March low of 676.5, while gold (GLD) is the only asset about which he remains positive. [View news story]
That was the greatest consumer generation the world has ever known.
.
It's time to get out of bonds, strategist Dan Deighan of Deighan Financial Advisors says. The economy may be able to withstand the coming rise in interest rates, he says, but "there is going to be a meltdown in the bond market." Presently, March 30-year bonds are +0.22% at 115-08. The rest of the curve is flat. [View news story]