Historical Fed Fund Ranges
at 2006-03-22 12:07:06
As I have stated repeatedly, I do not buy this One and Done meme. This is the 3rd attempt at it -- the first being last June, when Dallas Fed Chair Fisher issued his now infamous 8th inning comments. Then in January, the moonshot was once again launched on that...
Does the CPI Reflect Reality?
at 2006-03-22 12:07:06
I almost missed this earlier this week, and its on point to our prior discussion: The WSJ asked its readers: Does the government's consumer-price index accurately reflect the inflation rate you face? Not surprisingly, 75% said CPI understates inflation: Source:WSJ PollMar-20 5:30 pmhttp://tinyurl.com/hklfr...
Relative Outperformance: Low Quality Stocks
at 2006-03-22 12:07:06
Yesterday, I briefly made mention of the relative outperformance of dreck. Let's delve deeper into that this morning. This year, stocks of companies with the strongest balance sheets have markedly lagged shares of firms with the weakest financials. In fact, the YTD performance numbers have not even been close. According...
The Music of the Market
at 2006-03-22 12:07:06
Lately, I have been noticing that many economists, analysts and strategists have been having some sly fun by naming their research after songs. My own contributions to the space have been the past two commentaries: Bad Moon Arising, and Been Down So Long (It looks like up to me). But...
Intel to issue converitble debt - is tech old?
at 2006-03-22 12:07:04
INTC announced that it plans to issue $1.4b in Junior Convertible debentures. INTC currently has very little debt on its books. Its long-term debt is close to $400m, paltry amount when you look at the accounts payable balance of over $2b. The $1.4b is also a paltry amount for a company with market cap of $160b. So why issue debt when a company like INTC generates wads of cash every quarter? For
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