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BruceInKY

BruceInKY
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  • 3M (MMM +0.3%) is the latest major company to caution about the economic outlook, as CEO Inge Thulin says its initial 7%-8% revenue growth forecast is now a "stretch target... The market has changed since that target was put in place. It was done in a different economic environment." The weak economy is making M&A targets more attractive, Thulin adds. (earlier[View news story]
    FedEx negative, 3M negative. November 6 will drive both, up or down.
    Sep 20, 2012. 12:21 AM | 1 Like Like |Link to Comment
  • Fed Gets Aggressive: Willing To Risk Some Inflation [View article]
    James, your headline left me troubled by a parallel thought: "Arab Street Gets Aggressive: Willing to Risk it All."

    Indulge me in a re-write of the first of your concluding points. The protagonists of the embassy attacks are "implicitly admitting that [they are] playing with fire. In other words, by making the ignition of [anti-American conflict] its trigger for [consolidating new-found power and pursuing anti-Western agendas], the [so-called Arab Street and their leadership] risks igniting a fire of unintended scope and effects."

    The confluence of risk-taking by the Fed, risk-taking by the ECB, and risk-taking by a newly empowered network of people who are no friends of free markets has me concerned. I can envision rapid disintegration of existing supply chain and retail infrastructures throughout the Middle East. Meanwhile, China follows antagonistic policies of their own while aiding and abetting the risk-taking on all sides. (Aside: I don't think they give a d@mn about the citizenry of any other country no matter how profitable the relationship.)

    Enough of my tin-hat musings. No offense meant. I'd welcome your response, and the replies of other readers.
    Sep 13, 2012. 04:36 PM | 4 Likes Like |Link to Comment
  • How To Position For President Obama's Second Term [View article]
    Whatever your take on this article and the election, credit the author for not only addressing an event that impacts all investors, but expanding on his opinion by taking the time to answer drive-by critics who have not posted full-length positions/analysis. Now following Mr. Brochstein.
    Sep 12, 2012. 01:03 AM | 4 Likes Like |Link to Comment
  • If Bill Clinton Gave A Speech On Fiscal Responsibility In Equity CEFs [View article]
    Mr. Albo used a rhetorical device to deliver his guidance JCC, and he did indeed capture some of El Slickster's familiar style and cadence. If you got Eastwood's empty chair schtick, I think you can also separate the author's analysis from the voice he adopted.
    Sep 11, 2012. 08:07 AM | 2 Likes Like |Link to Comment
  • How To Position For President Obama's Second Term [View article]
    "Obama's policies in his first term haven't been particularly pro-growth, but I expect that lame-duck Obama will want to fund the many investments he has been discussing since before he was elected the first time. I think that we could see spending aimed at boosting jobs (and funded by cutting defense). In general, I expect lame-duck Obama to be very pro-growth, which likely won't play well in bond land."

    So unaccountable deficit spending to grow government and reward political donors that wasn't "particularly pro-growth" will somehow become "very pro-growth"?
    Sep 10, 2012. 07:40 AM | 7 Likes Like |Link to Comment
  • France's unemployment rate hit a 13-year high in Q2, rising to 10.2% from 10% in Q1. Excluding France's overseas territories, the figure was 9.7% vs. consensus of 9.8%. (PR[View news story]
    President Hollande has a midas touch, just like BO.
    Sep 6, 2012. 06:40 AM | Likes Like |Link to Comment
  • North American cinema ticket sales -3% to $4.28B between the first full weekend in May and Labor day, the first summer decline in seven years. Attendance -4% to 533M people, the lowest since at least 1993, when independent records began. The decline comes after ticket prices increase, and despite the success of blockbusters such as "The Avengers" and "The Dark Knight Rises." [View news story]
    We were all so busy enjoying real-life blockbuster Recovery Summer III that we forgot about the movies.
    Sep 3, 2012. 11:46 AM | 1 Like Like |Link to Comment
  • August Consumer Confidence: 60.6 vs. 65.8 expected, 65.4 (revised from 65.9) prior. Expectations 70.5 vs. 78.4 prior. Present Situation 45.8 vs. 45.9 prior. [View news story]
    Consumers have been readjusting their expectations to cope with the "it's a dry heat" nature of Recovery Summer 3.
    Aug 28, 2012. 10:50 AM | Likes Like |Link to Comment
  • Lexmark (LXK) intends to stop manufacturing inkjet hardware and sell its related technologies in a restructuring that will result in 1,700 job cuts. The overhaul will cost $160M pretax but bring savings of $85M in 2013 and $95M annually from 2015. Lexmark also plans to buy back an extra $100M in shares in H2 and the board has approved another $200M of repurchase authority. (PR[View news story]
    Recovery Summer 3 leads 1,700 more workers out to pasture.
    Aug 28, 2012. 10:46 AM | Likes Like |Link to Comment
  • Pro Farmer estimates following this week's crop tour have corn yield at 120.25 bu/acre vs. the USDA estimate of 123.4. Beans 34.8 bu/acre vs. USDA at 36.1 ("The crop from Ohio to Nebraska needs a drink right now to realize these yield estimates"). Iowa (nation's largest producer): "Early start to the growing season turned into a mid-season nightmare for corn trying to pollinate." Market reaction will have to wait until Sunday night. [View news story]
    Time to end the ethanol blending requirement.
    Aug 24, 2012. 05:29 PM | 1 Like Like |Link to Comment
  • Market recap: Stocks stumbled as St. Louis Fed's James Bullard threw cold water on QE3 prospects and data from China and the eurozone pointed to stalling growth. But the QE trade followed through in other asset classes, including gold, the dollar and Treasurys. Perhaps a little profit-taking in stocks after a 10% run-up since June shouldn’t be a surprise. NYSE losers led winners two to one. [View news story]
    In a follow-on non-sequitur reference pertaining only to Prince Harry's escapade and leaving our dear Chairman Ben aside, bbro, I think we can both agree that the Queen is not amused. Ta.
    Aug 23, 2012. 10:20 PM | Likes Like |Link to Comment
  • Market recap: Stocks stumbled as St. Louis Fed's James Bullard threw cold water on QE3 prospects and data from China and the eurozone pointed to stalling growth. But the QE trade followed through in other asset classes, including gold, the dollar and Treasurys. Perhaps a little profit-taking in stocks after a 10% run-up since June shouldn’t be a surprise. NYSE losers led winners two to one. [View news story]
    don't know if naswood hit like but I did, a little histrionic but I've been known to go there myself. Amen I say to you, into.
    Aug 23, 2012. 10:14 PM | Likes Like |Link to Comment
  • The Taxman Cometh Online [View article]
    "While the recovery of lost tax revenue will not be enough to pay off the debt, it will help prevent more cuts to projects and services until the economy fully recovers."

    This would be another clue to the author's political leanings.
    Aug 23, 2012. 10:04 PM | 3 Likes Like |Link to Comment
  • Initial Jobless Claims: 372K vs. 365K consensus, 368K prior revised (prior week 366K). Continuing claims +4K at 3.31M[View news story]
    Look at yesterday's news on quarterly decline in exports by Japan, So. Korea and Taiwan to Europe and China. If there was a way to subtract from those figures the value of smart phones and tablets (and their components), it would look even more alarming. Europe is plunging already; China sliding, slipping, and slowing.
    Aug 23, 2012. 09:11 AM | 2 Likes Like |Link to Comment
  • What Does Ackman See In P&G? [View article]
    Thorough and thoughtful. Bullish on a much smaller share of PG than Pershing Square!
    Aug 22, 2012. 08:30 AM | Likes Like |Link to Comment
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