Sunday, February 28, 2010
People, passion, perseverance. Former AOL CEO and Chairman Steve Case
People, passion, perseverance. Former AOL CEO and Chairman Steve Case describes these words as the bedrock of successful entrepreneurship. Heading into what may be the "golden era of entrepreneurship," he says that he relies on the "three p's" as assessment tools to help guide his direction and goals. When all of the three parts are in balance, an entrepreneur can achieve success like that of AOL; when they aren't, you get the failure of the AOL-Time Warner merger.
Friday, February 26, 2010
Thursday, February 18, 2010
Tuesday, February 16, 2010
Friday, February 12, 2010
Thursday, February 11, 2010
When December Low is Crossed & January Barometer Negative - from Traders' Almanac
Of the 31 times since 1950 where the Dow closed below its December Closing low in the subsequent Q1 it declined further 29 times or 93.5% of the time. Both years, 1996 and 2006, that the Dow did not fall further the January Barometer was positive.
The 29 subsequent drops averaged 11.8% (not including 1996 and 2006). Average time frame is 152 days with a minimum of 2 days in 1991 (Schwarzkopf and Powell Beat Saddam) and a max of 345 days in 1969 (Summer of Love, Woodstock, followed by Vietnam escalation and Kent State in 1970 with bear market continuing to May 1970). 2008 was the worst drop – 42.1% over 323 days. Four occurred in less than 14 days and 13 in less than 90 days. 23 crosses occurred in January, 3 in February, 5 in March.
When both the December Low is breached and the January Barometer is negative only 1956 was spared a further decline as Ike's heart condition improved, though the market was flat for the year. In these years the S&P 500 hit the low for the year on average about six months later for an average drop of -14.2%.
Monday, February 8, 2010
Wednesday, February 3, 2010
Free Speech or Investor Protection
Yesterday a client showed me a copy of the statement of a deceased family member. The broker, from one of the largest investment banking firms, had scribbled a few suggested portfolio changes on the face of the positions page. He suggested liquidating almost everything and splitting the portfolio among a mortgage fund (buys undervalued mortgages? how?) a managed commodities fund portfolio, and REITS.. Insightful analysis? Hardly.
Made me realize that there are two sides to the burdensome requirements which do not allow me to communicate with the public without prior approval.
Made me realize that there are two sides to the burdensome requirements which do not allow me to communicate with the public without prior approval.
Tuesday, February 2, 2010
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