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Monthly Archives: July 2012

SOMETHING HAS CHANGED

By |2012-07-16T13:06:02-04:00July 16th, 2012|Markets|

SOMETHING HAS CHANGED There is clearly downside risk brewing in the real economy. As much as central banks would like stock prices to be considered equivalent economic indicators, the real economy is a much harder nut to crack. The economic accounts show, nearly uniformly, the same pattern and tendencies. The recovery, such that it was, ended in the middle of [...]

Quarterly Update – Global Opportunites

By |2012-07-16T14:32:17-04:00July 16th, 2012|Markets|

See In-Depth Quarterly Overview. Our Global Opportunities portfolio had an outstanding first half of the year, significantly outperforming its benchmark, the MSCI World index. Additionally, it has outperformed the S&P 500 over one and three years. During the first four months of the year, we raised our cash position in anticipation of a deterioration in the economic data. We sold [...]

Thinking Things Over: George W. Bush Discovers the Foundations of Prosperity (Finally)

By |2012-07-15T21:33:25-04:00July 15th, 2012|Economy|

Thinking Things Over     July 15, 2012    Volume II, Number 28:  George W. Bush Discovers the Foundations of Prosperity (Finally)                                                     By John L. Chapman, Ph.D.     Washington, D.C.    This coming week in Dallas and again in New York, Crown Business Publishing will hold book launch parties for the first book to be published by the George W. Bush Institute, the former [...]

A Closer Look: World Markets

By |2012-07-15T18:56:12-04:00July 15th, 2012|Markets|

The world markets have been in a state of flux since the beginning of summer, as the European debt crisis hit its stride and economic indicators worsened at home and abroad, especially in China. The adage "sell in May and go away" has proven true thus far, but there is a silver lining for those that dare dab in the [...]

Alhambra Research Note: A Weakening Economy Portends a Challenging 2013

By |2012-07-15T17:52:19-04:00July 15th, 2012|Economy, Markets|

By John L. Chapman, Ph.D.           Canton, Ohio For many months now, Alhambra Partners Founder and 20+ year investment professional Joe Calhoun has labeled the current investing climate a “secular bear market.”  That is precisely correct, alas, but what does it mean for the investor, exactly? In short, that the past is prologue to the near-term future, and that preservation of [...]

Situation Hopeless But Not Serious?

By |2012-07-15T16:32:05-04:00July 15th, 2012|Currencies, Economy|

From friend of Alhambra, Brian Cronin: The concept of summits is well known: Teheran, Yalta and Potsdam during the Second World War to the G-7 summits of recent years between heads of state. Summits inside the European Union are somewhat different. Since the EU is not a cohesive whole with an overall political authority, it is akin to America’s governors [...]

Expectations

By |2012-07-15T16:28:11-04:00July 15th, 2012|Economy, Markets, Stocks|

JP Morgan reported their widely anticipated earnings Friday and the losses from the London Whale trading fiasco were huge. The firm had initially pegged the losses at $1 to 2 billion but the quarterly report showed the total has bulged to $5.8 billion. And according to the CFO there may be additional losses of $700 million to $1.7 billion. Naturally [...]

Passive Investments

By |2012-07-09T13:48:59-04:00July 9th, 2012|Markets|

By Patrick Manning, Head of Strategic Investments Recently my grandson who is 21, and my nephew who is 22, expressed an interest in the stock market. Of course I encouraged both of them to pursue this interest, but suggested they start by doing it in a play money account, rather than actually investing. They are both in college and have [...]

Q2 Alhambra Strategies Performance Report

By |2012-07-10T00:19:16-04:00July 8th, 2012|Markets|

At Alhambra, we have 2 objectives: We strive to provide an investor the highest probability of reaching their goals especially relative to the rest of the industry. We strive to serve a broad and diverse clientele, providing solutions suitable to each individual. We provide both passive and tactical strategies.  Our strategic portfolios are diversified and efficient allocations, opportunistically taking advantage of [...]

Thinking Things Over: Who Should Run HP? An IBMer! Who Should Own HP? Henry Kravis

By |2012-07-08T19:15:43-04:00July 8th, 2012|Markets|

Thinking Things Over   July 8, 2012 Volume II, Number 27:  Who Should Run HP? An IBMer! Who Should Own HP?  Henry Kravis    By  John L. Chapman, Ph.D.      Canton, Ohio Hewlett-Packard shares (HPQ) hit a 52-week low last week, and the firm has lost three-fifths of its market value since hitting a secular high just over 16 months ago.  Worse, HP is one of [...]

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