Economics
This misleading statistics on the quality of US healthcare:
http://www.realclearpolitics.com/articles/2007/08/why_the_us_ranks_low_on_whos_h.html
Politics
Domestic
International War Against Radical Islam
A disappointing assessment from
http://pajamasmedia.com/2007/08/baghdad_report_never_missing_a.php
The Market
Technical
Fundamental
We covered the positive action by the money center banks and the Fed in yesterday’s Subscriber Alert. However, there were other positives in the news: (1) Rio Tinto, which is acquiring Alcan, announced that the $40 billion debt offering that it is using to finance the Alcan deal was oversubscribed [meaning that those investors are not spooked by a highly leveraged buyout transaction], (2) First Data announced that its purchase by KKR Financial will close September 30 [deals on the books are getting done], (3) BHP Billiton, the world’s largest mining company, reported record profits, raised its dividend 30% and said that it was aggressively looking for new acquisitions [the world economy remains strong], (4) Dubai World is buying a 9% position in MGM Mirage for $5 billion [new deals are being done and at least some US companies are attractively valued], (5) Bank of America is investing $2 billion in Countrywide Financial [providing further financial stability to the non sub prime market], and (6) Lehman Bros closed down its sub prime unit [and nobody cared--improving investor psychology].
At the Market open today, the Aggressive Growth Portfolio will buy the second half of its position in Commercial Metals (CMC-$29).
EPS: 2006 $2.89, 2007 $2.95, 2008 $3.25; DVD: $.38 YLD 1.1%
http://finance.yahoo.com/q?s=CMC
News on Stocks in Our Portfolios
More Cash in Investors’ Hands
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