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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (230277)	3/22/2003 4:14:54 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 436258

Barron's Mini-Review, 1. Abelson was hot as a pistol this week. He publishes a great table showing the differences between the market during the Gulf War and Operation Iraqi Freedom (that has to be the worst title of all times. Desert Storm and Desert Shield evoked something. As did Operation Barbarosa and many other war slogans. This one just sucks.) , ) He also quotes how lousy mfg. has been in New York and PA. Looks like we may get shrinking mfg. for the whole country first quarter. Oh, yeah, rev up those stock indices. <g> The guy has a way with words. He says "no less an authority than Alan Greenspan, and as we never tire of saying, we can't think of any less an authority. Abelson says there is still way too much capacity to even think of investing by businesses. Here's a great stat: Of the Nazwacky's ten largest cos., this year, one insider bought 3,600 shares. They have sold 33.9 million shares. I know, options and asset allocation and all that hooey that I quote when it's one of the stocks I sucker into. But that produces a sell ratio of 9407 to 1. I love numbers like that. He also takes a shot at Richard Perle, a buddy of Donald RumsDumbsfeld, who is lobbying the Pentagon for Global Crossing. Alan thinks it's unethical. I think it is business as usual for these sorts of folks. 2. Stocks and war article. Stratfor expects us to set up a puppet regime in Iraq and steal their oil. Forget about all this democracy claptrap. Duh! They get paid to figure that out? What do they bill to stick their heads out a window, come back with wet hair and predict rain? <g> A U. of Chicago poli sci. prof says that Washington has undone 50 years of multilateral relationships in a trice. Now our allies regard us as the biggest threat to world peace and security. Abelson makes a point that the prof is a West Point grad who voted for the elected not selected President Bush back in 1990. Not totally irrelevant, but he's not a lefty. He also quotes Roach as seeing globalization crippled by the US attack on Iraq. I see it as something like what happened to Mussolini after he attacked Ethiopia. Moose won, too. 3. An oil analyst says that energy stocks should soon be in an uptrend. He likes some of my stocks, so he must be a good guy. <g< 4. How to spruce up your portfolio is a horrible article. Still stuck to the brain dead asset allocation models that pension funds thought up to put themselves in deficits. 5. A surprisingly mediocre interview with Ray Dalio of Bridgewater Associates. He hates the dollar, but pretty much talks like a politician, not wanting to hurt anyone's feelings. 6. MarketWatch has a nice blurb from Kenneth Coleman who is predicting a rise in gold prices after the war. Whoa, I'll bet he gets lonely when he holds a meeting of like-minded analysts. <g> 7. A great letter in Mailbag. Michael Liss mentions that the French have tapped into a general resentment and fear of America in the world. He doesn't especially like it, but it looks like we will be isolated. Again, Mussolini in Africa. 8. A strange item in the Mutual Funds pullout. Harvard cut a deal with Templeton where they can't lobby fellow shareholders against Templeton in the management of its closed end funds. Huh? I know that shareholder democracy is a joke, but signing away your right to speak out about a company you own. Something is rotten in Cambridge and it doesn't smell that great in The Bahamas or San Mateo or whereever Templeton is currently located, either. 9. Commodities Corner has a great piece about the Shanghai Gold Market and why demand will rise 10% in 2003. Oh, yeah, sell that yeller dog now. <G> 10. In Market Lab, the Dow PE ratio has risen to 22 times, the 500 to 32 times and the S&P Industrials to 45 times. Dirt cheap. Have a great weekend.