Monthly Archives: July 2013

Obama’s Potomac Fever

In a CNBC interview JP Morgan CEO Jamie Dimon celebrated the manifold strengths of America that will drive the next economic boom: “This country not only has the best military on the planet, it has got the best universities, the … Continue reading

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China Double Play: Slowdown & Cleanup

We revisit two important investment themes: China Slowdown Yes, China is a compelling long-term growth story.  So was the U.S. in the 19th century, but it still had financial panics and deep recessions in 1819, 1837, 1857, 1873, and  1893.  … Continue reading

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Q2 Earnings: Good Enough

The second quarter S&P 500 bottom-up EPS estimate is around $27.00 and should creep higher during the rest of earnings season.  This is consistent with strategists’ full-year 2013 estimates of $108-110.  Results are not great but good enough for stocks … Continue reading

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The China Syndrome: Will GDP Growth Top 5%?

Two months ago I attended a dinner of Wall Streeters at a proper club in midtown Manhattan; it called to mind the locker room scene in the movie Wall Street where Gordon Gekko wisely opines, “That’s the thing you gotta … Continue reading

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Regime Change: What the Bond / Gold Rout Means for Stocks

For well over a year I have been bullish on stocks, arguing it made little sense to own a bond yielding 2% instead of well-managed blue chip stocks yielding 2-5% with dividend growth of 5-12%. If all went well, I … Continue reading

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Digitization: Are Universities the Next Newspapers?

Back in the 1990s I used to write thematic investing reports on winners and losers from the advent of the Internet.  One day I had a minor epiphany.  Why, I wondered, would anyone pay to place in the local newspaper … Continue reading

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