7/12/07

Economics

fiscal profligacy (Government spending as a percent of GDP is too high and the looming explosion in entitlement expenditures will make it worse. There is no good solution save spending discipline.). More on the maneuvering in the Senate to hide earmarks:

http://www.clubforgrowth.org/2007/07/demint_vs_big_spenders.php

Politics

Domestic

Our Homeland Security at work:

http://www.nytimes.com/2007/07/12/us/12nuke.html?ex=1341979200&en=b7e1bece393f272b&ei=5124&partner=permalink&exprod=permalink

International War Against Radical Islam

The Market

Technical

Cramer’s take on the current Market:

http://www.thestreet.com/p/_htmlrmd/rmoney/jimcramerblog/10367393.html

Fundamental

Mistakes investors make during earnings season:

http://www.thestreet.com/_htmlbooyah/university/financeprofessor/10367326.html

News on Stocks in Our Portfolios

General Electric (Dividend Growth Portfolio) and Abbot Labs (Dividend Growth Portfolio) cancelled the agreement in which GE would acquire ABT’s point-of-care diagnostics business.

EPS: 2006 $2.52, 2007 $2.82, 2008 $3.20; DVD: $1.30, YLD 2.3%

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

EPS: 2006 $1.99, 2007 $2.25, 2008 $2.50; DVD: $1.10, YLD 3.2%

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

Fastenal (Aggressive Growth Portfolio) reported second quarter earnings per share of $.40 versus $.34 reported in the comparable 2006 quarter.

EPS: 2006 $1.32, 2007 $1.55, 2008 $1.80; DVD: $.42, YLD 1.0%

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

Market Analysis

More Cash in Investors’ Hands

Rio Tinto has offered to buy Alcan for $38.1 billion in cash.