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Monthly Archives: July 2012
Q2 Profits Look Weak; Strategists Will Cut S&P EPS
In our July 9 post, Second Quarter Earnings – How Bad Will they Be?, we answered: Bad enough to compel strategists to eventually cut their 2012 S&P 500 EPS estimates from $103-$105 to $100. While $100 still seems reasonable, the tone … Continue reading
Sylvia Didn’t Build Sylvia’s On Her Own
Sylvia Woods, the entrepreneur whose vision and decades of hard work turned her Harlem restaurant into a world renown culinary destination, died on July 19 after a courageous battle with Alzheimer’s. She was born in South Carolina in 1926, and … Continue reading
Mrs. Biggs’ Secret Stock Market Formula
Wall Street superstar Barton Biggs, who died last week, was one of Morgan Stanley’s high-profile equity strategist, appearing regularly on CNBC and in Barron’s annual investment roundtable. Unlike many sell-side big shots, he actually invested in the stock market. Biggs eventually … Continue reading
Are Dividend Growth Stocks Overvalued?
Dividend growth stocks are so 2011. Yesterday, a portfolio manager was interviewed on CNBC. “What are you recommending?” ” We like high quality dividend growth stocks.” “Everyone says that.” Sometimes, “everyone” is not wrong. Perhaps because equities are generally out of … Continue reading
Second Quarter Earnings – How Bad Will They Be?
Wall Street strategists are forecasting 2012 S&P 500 EPS of $100-$105. After fairly good first quarter results, their estimates edged up toward $105, but macro deterioration has brought numbers down to around $103. My guess is that ultimately (i.e., next March) … Continue reading
Seven New Reasons not to Create Jobs in France
If you wonder what tax changes Barack Obama would have made in 2009 if the U.S. had a parliamentary form of government, take a look at what Francois Holland is doing in France. According to the Financial Times: E2.3 billion … Continue reading
Over the Limit: How Romney Should Tie Obamacare to High Unemployment
The political genius in Obamacare is that it is such an immense and immensely complex piece of legislation that no one knows what’s in it. Nancy Pelosi notoriously said, “So we have to pass the bill so you can find … Continue reading
The Other Keynesian Paradigm
Employment growth has been terrible for the last few years, and Keynesian economists think they know why – companies aren’t hiring because demand for their products is weak in a debt-burdened economy. The problem with this notion is that corporate … Continue reading