Portfolio Changes
We made several changes to our portfolios today. This was not in response to the fiscal cliff situation. We believe that fiscal policy will continue to be a contentious issue throughout at least the first quarter. Any deal reached today or this week will only be a band aid that allows the two parties to .. read more
Colombia GDP
Colombia reported GDP growth today less than expected. Colombia (GXG) is part of our Select Countries portfolio. BOGOTA, Dec 20 (Reuters) – Colombia posted surprisingly weak third-quarter growth on Thursday as the global slowdown bit into expansion and boosted the likelihood policymakers would cut the benchmark interest rate to spur the sluggish economy. The Andean .. read more
Global Opportunities New Highs
12 of the 27 stocks held in our Global Opportunities portfolio are trading at or near their 52 week highs: ABC, AFL, AMGN, BAM, BIIB, BK, CELG, DASTY, KMB, LXP, V and BHP I think that is pretty remarkable. Most of these stocks we’ve owned for some time (some of them for years) and we .. read more
The Economy Is Not The Market
The financial press this year has been filled with stories about the economic slowdown in China and the debt crisis in Europe. Opinions on Chinese growth this year have ranged from dire (a hard landing involving a growth rate most countries would still envy) to bad but not as dire (a soft landing). All the .. read more
Is The US Already In Recession?
Is the US economy already in a recession? That’s what Lakshman Achuthan of the Economic Cycle Research Institute believes. He made the media rounds last week and his message was a simple one – the US economy has been in recession since July of this year. ECRI has a flawless record of predicting US recessions .. read more
Who Knew? Economics Is Simple Math
I was on the road last week and between meetings I spent more time than usual watching CNBC. I no longer wonder why their ratings are down. They have a lot of hours to fill obviously and right now they are concentrating, seemingly exclusively, on the fiscal cliff negotiations. Last Tuesday, they interviewed a stock .. read more
Uh, Oh. Bernanke Agrees With Me
There’s important potential for the economy to strengthen significantly if there’s a greater level of security and confidence about where we’re going. A plan for resolving the nation’s longer-term budgetary issues without harming the recovery could help make the new year a very good one for the American economy. Ben Bernanke in a speech last .. read more
Looking For Silver Linings
John Templeton, one of the greatest investors of all time, said that investors should buy at the point of maximum pessimism. Nothing illustrates the adage of something being easy to say and hard to do more than that statement. It is of course at the point of maximum pessimism that our natural psychological barrier to .. read more
