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  • Union Pacific Corporation declares $0.79 dividend [View news story]
    all kinds of errors in this item
    Aug 1 01:01 PM | Likes Like |Link to Comment
  • CNBC's Jim Cramer thinks the shrinking number of underwater mortgages and a rising net interest margin are "incredibly" bullish signs for bank stocks. 9.7M properties were underwater in the U.S. during Q1, down from 10.5M in Q412. That's significant, he adds, because when a homeowner goes from underwater to above water on their mortgage, they spend three times as much at the retail level than they would do otherwise. His favorite pick: Wells Fargo (WFC). It's the single greatest play if you think houses are coming out from underwater," Cramer says, because of its "ability to take the collateral and make new loans." (Video). [View news story]
    For what it's worth, Dick Bove has been saying much the same.
    Jun 12 08:20 PM | Likes Like |Link to Comment
  • A look at sector performance in the 2 months since the Fed's QE∞ announcement finds tech (XLK), -11.6% the laggard by a wide margin. The materials sector (XLB) has about matched SPY's 7.3% decline. The top performer is healthcare (XLV), -2.7%. Industrials (XLI), staples (XLP), discretionary (XLY), financials (XLF), and utilities (XLU) have marginally bested the S&P. [View news story]
    The big question re: the xlk is if the decline is due to the Fed or Apple.
    Nov 14 05:39 PM | Likes Like |Link to Comment
  • Market recap: Stocks sank to session lows during the final trading hour as news of increasing withdrawals at Greek banks and another Spain downgrade from Egan Jones spooked investors. Neither story is surprising, but headlines are driving a market unnerved by tomorrow's Italian bond auction and Sunday's Greek election. NYSE losers led gainers by more than two to one.  [View news story]
    There was an Italian bond auction today.
    Jun 13 05:11 PM | Likes Like |Link to Comment
  • The euphoria surrounding the upcoming Facebook (FB) IPO is reaching ridiculous levels, says Information Arbitrage. Retail brokers have stopped taking orders. The offering price range has been dramatically increased. And the amount of stock sophisticated investors and insiders are selling is enormous. So... What should one make of all this? Simple - buyer beware. The hype surrounding the IPO is similar to that of Blackstone's (BX -5.4%) in 2007, which has essentially been dead money ever since.  [View news story]
    BX = Blackstone.
    May 17 03:32 PM | Likes Like |Link to Comment
  • Boeing (BA +0.5%) institutes a number of measures aimed at making its 737 jets more fuel efficient and attractive to buyers weighing the jet versus the Airbus A320neo. According to the company, 737 improvements include extending the tail cone, updating flight controls, and strengthening landing gear, wings and the fuselage. [View news story]
    Comfortable seating would nice to see, too. The 737-900 is among the most uncomfortable planes now flying.
    Apr 11 02:40 PM | Likes Like |Link to Comment
  • A hat tip to Eddy Elfenbein for digging up the NYT reportage of the crash of December 1899. "The certainty that the government will come to the rescue as announced last night in a dispatch from Washington is another important encouraging factor," says the Times, a reminder moral hazard didn't begin with Alan Greenspan (though he may have perfected it).  [View news story]
    The date was 12/19/99. 1.5 million shares changed hands on the NYSE -- a record.
    Dec 30 02:05 PM | Likes Like |Link to Comment
  • Robert Samuelson assures himself a continuing invite to Jackson Hole, lauding the successes of the Fed since 2008, and urging for a quieting of the bashing, lest the central bank pick up its ball and go home. Revisionist history, says Mark Calabria: The Fed caused the crisis, it didn't cure it.  [View news story]
    The Fed helped cause the problem but has done fairly well at containing it since 2008. Given all the denials about culpability from everyone else involved in the disaster, they can be cut a little slack.
    Dec 12 02:15 PM | Likes Like |Link to Comment
  • "An interest rate is a price ... attempting to manipulate (it) is as destructive as any other government price control," writes Ron Paul, laying every boom/bust cycle since 1913 at the Fed's feet. "The pretense of knowledge," the illusion that having an army of PhDs allows it to guide a vast economy as it wishes, makes Fed thinking little different from that of the leaders of the former Soviet Union.  [View news story]
    It is a simplistic naive view of the world.
    Oct 20 06:55 PM | Likes Like |Link to Comment
  • The U.S. homeownership rate in Q2 fell to 65.9%, the lowest level since 1998, the Census Bureau reports. Observers blame stricter lending standards blocking purchases and foreclosures forcing people out of their residences.  [View news story]
    Please to remember, the Housing Bust was not due to Freddie and Fannie. The banking system went around the two to push subprime loans. Freddie and Fannie were late to the game. The biggest problem with the housing bust was the relaxation of mortgage standards and the conning of the system by thousands of slugs. And, most of all, the astonishing capacity of the real estate finance industry to forget what everyone always knews: real estate is not a liquid asset. What happened in 2007 happened in the 70s and early 80s and should have surprised no one.
    Jul 30 08:46 PM | 1 Like Like |Link to Comment
  • The U.S. homeownership rate in Q2 fell to 65.9%, the lowest level since 1998, the Census Bureau reports. Observers blame stricter lending standards blocking purchases and foreclosures forcing people out of their residences.  [View news story]
    The link goes to the first-quarter report.. this is the correct link: www.census.gov/hhes/ww...
    Jul 29 05:30 PM | 2 Likes Like |Link to Comment
  • The U.S. homeownership rate in Q2 fell to 65.9%, the lowest level since 1998, the Census Bureau reports. Observers blame stricter lending standards blocking purchases and foreclosures forcing people out of their residences.  [View news story]
    The link goes to the first quarter report.
    Jul 29 05:29 PM | 1 Like Like |Link to Comment
  • More Americans now work for the government than in construction, farming, fishing, forestry, manufacturing, mining and utilities - combined. Stephen Moore: "We have moved decisively from a nation of makers to a nation of takers."  [View news story]
    Government employment is down 395,000 since the end of 2008.
    Apr 1 07:46 PM | 10 Likes Like |Link to Comment
  • The great housing bamboozle: Once you take a look at these numbers, you'll never want to buy a home again.  [View news story]
    He didn't include the tax effects of the mortgage interest deduction.
    Sep 16 07:39 PM | Likes Like |Link to Comment
  • Market recap: The Dow and S&P jumped in late-day trading but weakness in tech stocks held the Nasdaq underwater. Rallies in oil and metals drove up producers such as Exxon Mobil (XOM +3.3%) and Alcoa (AA +2.4%), boosting the Dow. The broader market remained weak, with NYSE declining issues leading advancers by about three to two.  [View news story]
    advancers were ahead of decliners on the nyse
    Jun 8 04:32 PM | Likes Like |Link to Comment
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