5/16/08

Economics

On the danger or lack thereof posed by sovereign wealth funds:

http://www.american.com/archive/2008/may-june-magazine-contents/the-sovereigns-are-coming

A contrary view of last week’s jobs report:

http://bigpicture.typepad.com/comments/2008/05/companies-cutti.html

Withholding tax as an economic indicator:

http://bigpicture.typepad.com/comments/2008/05/withholding-tax.html

I’ll end with a positive view:

http://article.nationalreview.com/?q=YjZiNmU1MDUxZWIxMDk3ZGI1MTA4MjhjYTYyZTYyMzI=

Politics

Domestic

A final word on this week’s two most discouraging developments:

The Farm Bill

http://article.nationalreview.com/?q=ZGY1ZDJjOGYzM2UzZTNkOWYxMGQ5YTAwYmY1ZDE0YTU=

Obama and McCain on the Farm Bill:

http://gregmankiw.blogspot.com/2008/05/mccain-vs-obama-farm-bill.html

And the polar bear:

http://article.nationalreview.com/?q=MDQ3NzcyYTdkYmM4NjBjOTRkMDVlYzQ4OGU3OGFmNTU=

International War Against Radical Islam

More on Obama’s foreign policy:

http://www.powerlineblog.com/archives2/2008/05/020522.php

The Market

Technical

Sectors trading over their 50 day moving average:

http://bespokeinvest.typepad.com/bespoke/2008/05/percentage-of-s.html

Fundamental

Comparing the late 90’s tech bubble and the housing bubble to the current oil price:

http://bespokeinvest.typepad.com/bespoke/2008/05/a-look-at-respe.html

Clean energy plays:

http://bespokeinvest.typepad.com/bespoke/2008/05/clean-energy-et.html

Subscriber Alert

The stock price of Bank of Nova Scotia (BNS-$50) has traded above the upper boundary of its Buy Value Range. Accordingly, it is being Removed from the High Yield Buy List. The High Yield Portfolio will continue to Hold BNS.

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

The stock price of FactSet Research (FDS-$65) has traded above the upper boundary of its Buy Value Range. Therefore, it is being Removed from the Aggressive Growth Buy List. The Aggressive Growth Portfolio will continue to Hold this stock.

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

CNBC Million Dollar Portfolio Challenge

Portfolio 1: Sold: Automatic Data Processing and Home Depot

Bought: SAP Inc and Lowe’s

Positions: Wells Fargo, State Street, SAP Inc, Lowe’s, ExxonMobil

Portfolio 2: Sold: Medtronic and SEI Investments

Bought: Alcon and Blackrock

Positions: FactSet Research, Rockwell Collins, Alcon, Blackrock

Portfolio 3: Sold: Expeditors Int’l and Rayonier

Bought: Landstar and Penn Virginia Resource Partners

Positions: Eaton Vance, Landstar, Microsoft, Penn Virginia Res. Ptrs

Portfolio 4: Sold: Optionsxpress

Bought: Westamerica Bancorp

Positions: Paychex, Westamerica Bancorp, Oshkosh Truck,

Expeditors Int’l

News on Stocks in Our Portfolios

Abercrombie & Fitch (Aggressive Growth Portfolio) reported its first quarter earnings per share of $.69 versus $.65 recorded in the comparable 2007 quarter.

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

More Cash in Investors’ Hands