To All, Barron's had another dull week. 1. Abelson mentioned John Glenn's 1962 space flight and how the market crashed after he landed safely. But, he notes, at that time, T-Bill rates were a monstrous 2.7% and the Dow was priced at 21 times eps. Vs. the currently moderate 23 times eps for the Dow and the extremely low 4.30% for bills. <G> Silly, but fun.
2. Henry Kaufmann was the latest world famous economist to sink a hedge fund. Why people give their money to economists is beyond me. And don't any of these so-called hedge funds actually hedge anything in their portofolios? Or is hedge just another name for "use a lot of leverage and see how stupid you can be?" I can't imagine my old employer, Financial Hedge Corp, ever doing anything as risky as these guys do on a regular basis. Or the Bass Brothers. Or Rosewood Holdings.
3. A very positive article on Slum burger, which I hold. Nothing new, but it is nice to see one of my cos. touted for a change.
4. A doofus piece on tax selling and the January Effect. Although not total fiction like window dressing, this is overrated crapola. Since most of the world is invested through funds, aren't they the most likely recipients of tax selling? Nobody ever talks about that.
5. A small cap value guy. Yawn.
6. Savitz spouts the Forrester line on pc sales. He mentions that pc sales were great with units up 13% last quarter. No mention of the estimate for 3% more than that or the huge drop in ASP. He does see Y2K as an unhappy time. <G>
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