Friday, February 17, 2012

Morning Journal -- More crony capitalism

This Week’s Data

The February Philadelphia Fed index of business conditions came in at 10.2 versus expectations of 9.5 and January’s reading of 7.3.

The January consumer price index rose 0.2% versus estimates of a 0.3% increase; core CPI was up 0.2% as anticipated.


Friday morning humor (2 minute video):

Inside yesterday’s robust housing starts number (medium):

Global liquidity is expanding rapidly (medium):

A couple of brief quotes from John Stuart Mill (short):



More on the Buffett rule deception (medium):

JP Morgan makes a great point. The political class has squeezed the discretionary spending portion of the budget to such a low, that the only place future spending cuts can come from entitlements (medium):

More crony capitalism (medium, and you have to read this):

News on Stocks in Our Portfolios

Coca Cola raised its quarterly dividend per share from $.47 to $.51.

More earnings per share reports:

Reported Expected

Reliance Steel $.91 $.78
EOG Resources 1.15 .87

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.