Morning Journal-Fact checking the SOTU

Economics

This Week’s Data

December pending home sales index fell 3.5% versus expectations of a 1.0% decline and the November reading of +7.3%.

Weekly jobless claims rose 25,000 versus estimates of an 18,000 increase.
http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims_26.html

December durable goods orders advanced 3.0% versus forecasts of +2.0%; ex autos, it was up 2.1% versus expectations of up 0.7%.


Politics
Domestic

My favorite democrat’s take on the state of the union speech (short):
http://dailycaller.com/2012/01/25/wheres-the-osawatamie/

In the SOTU, Obama praised the bail out of GM. Forgetting the fact that the law was turned on its head, i.e. the creditors got screwed and the unions were saved, this note on how things are working out (short):
http://dailycaller.com/2012/01/24/wagner-act-outsourcing/

Fact checking the SOTU speech (9 minute video):
http://www.youtube.com/watch?v=eQdwr-xNJIU

Much is being made of the baggage that Newt has to haul around. One such piece is the ethics violation to which he pled guilty in 1997. Here is a complete and thorough discussion of the entire affair. It is revealing; and anyone deeming this ethics charge as a strike against Newt should read this. It is a bit long. (As a disclaimer, I am personally lukewarm at best to Newt’s candidacy.)
http://campaign2012.washingtonexaminer.com/article/what-really-happened-gingrich-ethics-case/336051

News on Stocks in Our Portfolios

More earnings per share reports:

Reported Expected

Grainger (WW) $2.13 $2.12
ConocoPhillips 2.02 1.89
ATT .42 .43
Colgate Palmolive 1.30 1.30
3M 1.35 1.31
Quality Systems .36 .38
Caterpillar 2.32 1.77

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.