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blog Institutional
Investment
Management
 /  Admin

Intel and Inflation

The stock market is doing quite nicely today with the S&P and Dow both up about 1.4% and the NASDAQ Composite up over 2%. Intel's better than expected earnings and decent guidance for the PC market are likely stoki... read more
blog Institutional
Investment
Management
 /  Admin

Bringing Good Things to Light

The news of the morning is General Electric. The company's earnings came out and missed expectations by about 7 cents on the bottom line and a billion or so on the top line. General Electric in many respects is lik... read more
blog Institutional
Investment
Management
 /  Admin

April Fool's?

The markets are starting the second quarter off with a bang, with most indices soaring upwards just shy of 3%. This morning, UBS announced further write offs totaling $19 billion, which is apparently some pretty go... read more
blog Institutional
Investment
Management
 /  Admin

Our Thoughts Exactly...

We have mentioned several times in recent posts about our belief that the latest rise in oil and other commodities appears to be speculative due in large part to the lack of participation in the underlying stocks. ... read more
blog Institutional
Investment
Management
 /  Admin

Bear Stearns -- Arisen?

The markets are enjoying another strong rally today, driven by a possible floor in housing sales and rumors that the Fed may start to purchase poorly performing mortgage loans rather than simply accept them on REPO... read more
blog Institutional
Investment
Management
 /  Admin

What's An Investor to Do?

The markets were all set to open on a strong note this morning following the release of more favorable short term inflation data, but quickly plunged almost 3% following news that Bear Stearns is at risk of going o... read more
blog Institutional
Investment
Management
 /  Admin

Thinking More About Offense

The action of the markets in the last week, particularly the internals as measured by industry, subsector industry performance and economic data releases, suggest that the greatest risks to the stock market may con... read more
blog Institutional
Investment
Management
 /  Admin

No Place to Hide

No place to hide. That's about all I can think right now. Materials related stocks are getting it on the chin today and are down as a group by nearly 5%. With the exception of oil which is hitting $107 per barrel, ... read more
blog Institutional
Investment
Management
 /  Admin

Pigs, Hogs and Nasdaq 5000

Today's Wall Street Journal has an article titled Commodity Prices Surge, as Investors Seek A Haven. Several points of view from this article echo comments we made in our Economic Update last Friday titled Commodit... read more
blog Institutional
Investment
Management
 /  Admin

Words Worth Sharing

Following up on Jeff's entry from yesterday, we found the following words from a report issued by Merrill Lynch today to be in line with our current thinking on the homebuilders. We've often compared the performanc... read more
blog Institutional
Investment
Management
 /  Admin

Commodities, Oil and the Reflation Trade

Throughout the day yesterday commodity prices soared as did the stocks of many companies who track in such goods, including the materials and energy sectors. Later in the day, the rest of the market fell apart as t... read more
blog Institutional
Investment
Management
 /  Admin

Laughing out Loud (LOL)

Today's economic news continued on the negative side, with the New York State Empire Index of manufacturing activity and the Michigan Consumer Sentiment Survey both signaling a weak economy. While both of these mea... read more
blog Institutional
Investment
Management
 /  Admin

Growth on the Rails - Really!

During the summer of 2006, I reluctantly attended a lunch in Cleveland with the CFO of major U.S. railroad operator Burlington Northern Santa Fe. Historically, railroads had been left out of discussions pertaining ... read more
blog Institutional
Investment
Management
 /  Admin

Wow, Bear Markets, and the Craziness of Datapoint Trading

In bear markets -- and I'm willing to call this a bear market given that many indices are close to 20% from their highs -- the swings in stock prices become emotionally charged. Yesterday, the stock of the Chicago ... read more
blog Institutional
Investment
Management
 /  Admin

The ISM, Super Tuesday, Pro Choice and Cisco. Buy Growth Now.

The new non-manufacturing ISM survey was released a bit earlier than expected today, indicating that services activities were at their lowest levels since the datapoint was first released. I really don't think this... read more
blog Institutional
Investment
Management
 /  Admin

The Legend of January

The performance of the markets this January has been among the worst on record. Almost everything has been down sharply, with the exception of the beaten down homebuilding and financial services sectors which actua... read more
blog Institutional
Investment
Management
 /  Admin

Durable Goods, Earnings & The Fed

Durable goods orders surged 5.2% in December. While this economic release is notoriously volatile on a month to month basis, the magnitude of the current results supports the view that the recession in the housing ... read more
blog Institutional
Investment
Management
 /  Admin

Breaking A Fever

The markets rallied an amazing 4.9% off their intra day lows yesterday to close up on the day. The action was so intense, that my wife Lisa got in on the commentary, sending me the following words of wisdom after t... read more
blog Institutional
Investment
Management
 /  Admin

Congresswoman mistakes Bernanke for Paulson

Thanks to our friend Jason Trennert, Chief Investment Strategist and CEO at Strategas Research Partners, for passing along this You Tube clip of Marcy Kaptur, Congresswoman from our beloved Ohio, in yesterday's Con... read more
blog Institutional
Investment
Management
 /  Admin

Blah Blah Blah

Bernanke's testimony to Congress this morning, and in fact most testimonies to Congress, often have the quality of an old fashioned sideshow act at the circus. Come see the world's fattest woman! Feast your eyes on... read more
blog Institutional
Investment
Management
 /  Admin

Bending without Breaking

This is our first entry in a little over a week. We're usually pretty busy with quarter and year end reporting activities, but a travel commitment late last week made things a bit tighter than usual. As the dust be... read more