Posted by Joseph Gomez Notes of interest from Apple's Q1 2012 conference call By AppleInsider Staff Published: 05:00 PM EST (02:00 PM PST) Apple on Tuesday posted a massive holiday quarter with record sales of more than 37 million iPhones, 13.5 million iPads and 5.2 million Macs. Following the news, Apple executives participated in a conference call with analysts and the press, and notes [...]
Thinking Things Over January 22, 2012 Volume II, Number 3: What Caused the Financial Crisis, and Why Does It Matter Now? By John L. Chapman, Ph.D. Canton, Ohio The solons at the National Bureau of Economic Research are the arbiters of defining periods of recession in the United States, and while "unelected", they are nonetheless granted this status via received [...]
Markets continued to trade last week as if the risks facing the global economy have been or soon will be resolved. Stocks moved higher with the S&P 500 up another 2% last week while European and emerging market stocks performed relatively better. Chinese stocks moved higher in anticipation of further monetary easing and a soft economic landing. Commodities continued the [...]
Joseph A. Gomez, Sr. Investment Advisor Will 2012 be a repeat of "Sell in May and Go Away"? Collectively, strategists are expecting the S&P 500 to finish 2012 at 1,350, which would be a gain of over 7%. HSBC has a year-end 2012 price target of 1,190 (down 5+%). Goldman Sachs is expecting the S&P 500 to finish the year at [...]
Another solid yet unspectacular week for the markets. While no one seems to be participating, the S&P 500 bounced off its trendline to reach levels it hasn't seen since July 2011. The index, though, seems poised to correct slightly. The relative strength index is very close to the 70 level, which tends to signal overbought conditions. The index is also [...]
By John L. Chapman, Ph.D. Washington, D.C. January 20, 2012 The third week of every month is always a "feast" for the data hounds in the investment business, with a slew of coincident reports out from the Departments of Labor and Commerce on producer and consumer prices, housing starts and home sales, industrial production and capacity utilization, and employment claims. [...]
There is little doubt that the current mainstream of economics features an abundance of Great Depression references and observations. It is an easy obsession to explain, with the 1930's being the last true economic calamity for us to reference. So it is natural human nature to try to define any current conditions that may manifest a new depression as similar [...]
I've been in this business for a long time and this paper confirmssomething I've observed throughout my career: There are two primary and distinct techniques of asset management: momentum and fair value. Momentum investors (‘the trend is your friend’) ignore fundamental value and follow the money, buying when prices are rising and selling when they reverse. Fair-value investors (‘a stock’s [...]
Thinking Things Over January 16, 2012 Volume II, Number 2: In Defense of Private Equity (Though Not of Romney) By John L. Chapman, Ph.D. Austin, Texas In 1962 the late economist Murray Rothbard of the University of Nevada-Las Vegas wrote one of the great books in 20th century economics, his magnum opus known as Man Economy and State. Among many other [...]
This week of trading was once again categorized by low volume and solid technicals. The S&P 500 broke through resistance at the 1290 level and managed to hold the uptrend line, at least temporarily. In the longer-term, the picture is even brighter. The S&P 500 blasted through both the 50-week moving average and its downtrend line. From the looks of [...]
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