7/10/07

Economics

a rising tax and regulatory burden (Government has never proven that it could solve economic problems efficiently or satisfactorily.) On the new government mandates on fuel efficiency:

http://www.washingtonpost.com/wp-dyn/content/article/2007/06/28/AR2007062801793.html?sub=AR

Politics

Domestic

International War Against Radical Islam

Syria invades Lebanon. We haven’t seen this report anywhere else. Don’t sell your oil stocks.

http://www.michaeltotten.com/archives/001483.html

The Market

Technical

Fundamental

News on Stocks in Our Portfolios

Johnson & Johnson (Dividend Growth Portfolio) announced a $10 billion stock buy back.

EPS: 2006 $3.76, 2007 $4.05, 2008 $4.35; DVD: $1.62, YLD 2.6%

http://finance.yahoo.com/q?s=JNJ

And some positive comments: http://healthcare.seekingalpha.com/article/40596

ConocoPhillips (Dividend Growth Portfolio) announced a $15 billion stock buy back.

EPS: 2006 $9.99, 2007 $8.65, 2008 $8.55; DVD: $1.64, YLD 2.1%

http://finance.yahoo.com/q?s=COP

The Chicago Board of Trade approved its acquisition by the Chicago Mercantile (Aggressive Growth Portfolio).

EPS: 2006 $11.60, 2007 $14.00, 2008 $16.25; DVD: $3.44, YLD 0.6%

http://finance.yahoo.com/q?s=CME

ParkerVision (10 Bagger) hasn’t really done much in the recent rally; however, the company continues to work with potential customers on their wireless system design which would incorporate PRKR’s technology. Remember the company has already received one contract which we believe validated that technology. Given the timing of the major cell phone manufacturers’ product cycle, if the company is going to get a new contract this year (which we think it will), it will likely occur sometime before the end of September. This clearly doesn’t make Parker a ‘must buy’ today; but we think that if you don’t own this stock, you probably should before the end of summer. Remember that the 10 Bagger holdings are ¼ to 1/3 of a normal sized position.

Market Analysis

More Cash in Investors’ Hands