Morning Journal-SEC incompetence

Economics

This Week’s Data

The July Institute for Supply Management’s manufacturing index came in at 49.8 versus expectations of 50.1 and June’s reading of 49.7.
http://www.capitalspectator.com/archives/2012/08/another_weak_re.html#more
http://scottgrannis.blogspot.com/2012/08/mixed-economic-releases.html

June construction spending rose 0.4% in line with estimates.

July domestic vehicle sales were flat with June and ever so slightly better than forecasts.

Weekly jobless claims rose 8,000 in line with expectations.
http://www.calculatedriskblog.com/2012/08/weekly-initial-unemployment-claims.html


Politics
Domestic

SEC incompetence gives banksters a free ride (medium):
http://www.nakedcapitalism.com/2012/08/sec-shows-abject-incompetence-in-toxic-cdo-case-against-citi-staffer.html

News on Stocks in Our Portfolios

More quarterly earnings per share reports:

Reported Expected

Automatic Data Processing $.53 $.53
Mastercard 5.65 5.58
Marathon Oil .59 .63
Teva Pharmaceuticals 1.28 1.28
Becton Dickinson 1.52 1.53
Western Gas Ptrs .33 .45

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.