 | ||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
 |
Bud's Poem Page Sunni/Shiite/Iraq/Iran Katie's Coast2Coast Blog Katie's West Coast Blog |
December 28, 2012
Comment on Model Portfolio activity We sold most of our holdings this week. The sales had nothing to do with the fiscal cliff talk. Rather, the markets have had a good run this year and we have had an even better run of luck and following the maxim of bulls, bears and pigs we decided to get to the sidelines for a while. The market seem tired and while the fiscal deal when announced may lead to a pop higher we expect the markets to then rest and consolidate. Usually such a move doesn’t occur till March or April but the action in the market this Fall has been unusual with only one instead of two pullbacks since August. We kept three positions and have only quit our trading stocks for a while; we haven’t abandoned them for good. Happy
New Year!!!!
Winter Solstice 2012
Comment on Model Portfolio activity Cheer up, summer in on the way. We are holding pat. The failure of the Boehner plan last night was a positive although the markets this morning are in the tank on the news. Happy Holidays from all of us. 
Gerald, Kelle, Katie and Bud - 2012 - Tyler, Lisa, Dave, Abby, Bud and Katie ***** December 14, 2012
Comment on Model Portfolio activity We added Alcatel Lucent to some accounts and also added to our Sony position in a few accounts. The Fiscal Cliff loooooooooooooooooms!!
A short two months ago as Apple approached $700 per
share analysts were falling all over themselves to raise price targets to $900
to $1000 per share. Now with the shares at $500 most are rethinking their
calls. Buy ‘em up; sell ‘em down as the old stockbroker used to say about the
analyst community.
An article on solar power on individual homes:
First, the investor-owned utilities that depend on the existing system for their profits have little economic interest in promoting a technology that empowers customers to generate their own power. Second, state regulatory agencies and local governments impose burdensome permitting and siting requirements that unnecessarily raise installation costs. Today, navigating the regulatory red tape constitutes 25 percent to 30 percent of the total cost of solar installation in the United States, according to data from the National Renewable Energy Laboratory, and, as such, represents a higher percentage of the overall cost than the solar equipment itself. In Germany, where sensible federal rules
have fast-tracked and streamlined the permit process, the costs are
considerably lower. It can take as little as eight days to license and install
a solar system on a house in Germany. In the United States, depending on your
state, the average ranges from 120 to 180 days. More than one million Germans
have installed solar panels on their roofs, enough to provide close to 50
percent of the nation’s power, even though Germany averages the same amount of
sunlight as Alaska. Australia also has a streamlined permitting process and has
solar panels on 10 percent of its homes. Solar photovoltaic power would give
America the potential to challenge the utility monopolies, democratize energy
generation and transform millions of homes and small businesses into energy
generators. Rational, market-based rules could turn every American into an
energy entrepreneur.
Pearl Harbor Day 2012
Comment on Model Portfolio activity We
traded Apple in a few accounts for a small loss this week without disturbing
our original holdings. We also bought Nokia and First Solar and added to DELL
and Old Second. And we sold Facebook for a nice trading profit.
Credit Suisse‘s networking equipment analyst Paul Silverstein today writes that the movement to replace networking equipment with so-called software-defined networking has been “greatly exaggerated” as a threat to Cisco Systems (CSCO) and Juniper Networks (JNPR) and other traditional vendors, and that it is in fact “more distant and limited than what appears to be the current view held by most members of the investment community.” Silverstein writes that he attended this week the Gartner Data Center Conference in Las Vegas, held by the research firm, where “Most enterprise IT professional we heard from and spoke to at the conference appear to be at the initial stage of simply trying to understand what is SDN, let along what is its value proposition.” SDN is in “the classic ‘hype stage’ of the technology adoption cycle,” he writes, and “deployment and significant interest in SDN currently appears to be limited to large, cloud service providers which require significant scalability, multi-tenancy or business agility.” Cisco, in fact, whose shares he rates Outperform, is in much better shape in enterprise switching than many suspect: Our takeaways from numerous presentations, round tables and user forums at the conference, including a presentation by David Yen, SVP and GM of Cisco’s Data Center Group (and previously EVP and GM of the Fabric and Switching Business Group at Juniper, where he led the QFabric initiative in data center network research and development) indicate to us that Cisco is far better positioned than most investors appear to fear regarding SDN. Our takeaway regarding Cisco’s SDN strategy is that it is a practical and flexible approach that responds to different requirements and different customers and use cases. We suspect that Cisco will spend much time discussing its SDN strategy at its upcoming analyst day on 12/7/12 and that most investors will be similarly impressed–or at a min less concerned re: Cisco’s SDN competitive position. Cisco shares today are up 20
cents, or 1%, at $19.41.
On Thursday CNBC interviewed
Fred Smith, the CEO and founder of Fed Ex, who decried the high corporate
tax rates in the U.S versus Singapore and other low tax countries. Fed Ex makes
its money by delivering packages. Those deliveries take place over highways
built by the Federal and State governments. Initially Fed Ex flew its packages
from a hub in Memphis to airports all over the U.S. Every commercial airport in
the U.S. is built by local government with generous Federal subsidies in the
building and maintaining process. The FAA, a federal agency, makes sure that
the planes can fly without harm. Fred is a billionaire because he had a great
idea and acted on it and more power to him. But the government created and
maintains the facilities that allowed Fred to earn that fortune. Too bad he
can’t appreciate what taxes do.
We make and lose our money the honest old fashioned way--- a few others, not so much— http://www.bloomberg.com/news/2012-12-03/dream-insider-informant-led-fbi-from-galleon-to-sac.html One-Time Hedge Fund Wiz Faces Second Abysmal Year One of the hedge funds run by John Paulson, whose prescient bets against housing where chronicled in the book "The Greatest Trade Ever," is on track to be the second worst performer of 2012 among the universe of funds tracked by HSBC. Last year, it was the worst. Paulson's Advantage Plus fund, which uses additional leverage than his other funds, is down 19 percent through the end of October, following a 53 percent loss last year. The fund bests just the Conquest Macro Fund, which is down 27 percent through the end of November. The firm's other flagship fund, the Paulson Advantage Fund, is down 13 percent this year, putting it among the top 10 losing funds in the HSBC universe this year as well. Paulson's funds are underperforming because of a bet on a Euro collapse and subsequent positions in gold and makers of the hard asset. Fast forward: the Euro is little changed on the year and one of the firm's biggest holdings, South Africa's AngloGold Ashanti (AU), touched a 52-week low last week. "A potential collapse of the Euro triggered by a Greek default or other event could throw the world into recession and serious financial disorder," wrote Paulson in the outlook section of his 2011 year-end letter. It's easy to pick on Paulson, whose bets against the housing market made him a multi-billionaire and were immortalized in more than one books and glowing articles, however most hedge funds are underperforming the market this year. The Hedge Fund Composite Index from Bank of America shows hedge funds are up just 2 percent in 2012, trailing the 14 percent gain in the SPDR S&P 500 ETF Trust (SPY). Ironically for Paulson, the best-performing hedge fund in the HSBC universe is the BTG Pactual Distressed Mortgage Fund, up almost 40 percent so far in 2012. The fund, managed by a Brazilian wealth manager, has benefited from a comeback in the very kind of residential mortgage securities that Paulson bet against during the crisis. Among the big name winners
this year is Daniel Loeb. His Third Point Ultra Fund is up 25 percent as of
last week, likely because of a comeback in shares of Yahoo.<
Different strokes for different folks: A woman who embezzled about $123,000 from her employer, then disappeared for a week after police questioned her, was sentenced Monday to four months in jail. Keri M. Geschke, 39, of DeForest, was sentenced to six years of probation, with the four months in jail as a condition of probation, for stealing the money from Sound Billing of Middleton, now called MyFleetCenter.com, where she worked as an accountant, between 2006 and 2010. The jail sentence was longer than the one month that Assistant District Attorney Paul Humphrey and defense lawyer Robert Hurley had agreed to recommend. Dane County Circuit Judge Stephen Ehlke said he didn't think one month was long enough because the thefts were not a one-time lapse of judgment and because Geschke worked in a position of trust. The story of 54-year-old Roy Brown, a homeless man who couldn’t afford to pay basic food and shelter expenses, is heartbreakingly cruel. A homeless man robbed a Louisiana bank and took a $100 bill. After feeling remorseful, he surrendered to police the next day. The judge sentenced him to 15 years in prison. The day after this story appeared, prosecutors celebrated the fact that they were able to get a 40-month prison sentence for investment tycoon Paul R. Allen, who defrauded lenders of more than $3 billion... Roy Brown is black and
homeless, while Paul R. Allen is white and extremely wealthy.
Dick Armey, the former Republican Congressman, who is an ardent conservative and anti-government fanatic, is resigning from an anti government nonprofit foundation and receiving $8 million to go away. Since nonprofits exist-in part because the government allows tax deductions for donations- the government is funding half of Armey’s walking away money. On top of that Armey has a government pension from his years in Congress, and Medicare- that hated government program. (AP) A confidential contract obtained by The Associated Press shows that Armey agreed in September to resign from his role as chairman of Washington-based FreedomWorks in exchange for $8 million in consulting fees paid in annual $400,000 installments. Dated Sept. 24, the contract specifies that Armey would resign his position at both FreedomWorks and its sister organization, the FreedomWorks Foundation, by the end of November. According to the contract, Armey’s consulting fees will be paid by Richard J. Stephenson, a prominent fundraiser and founder and chairman of the Cancer Treatment Centers of America, a national cancer treatment network. Stephenson is on the board of directors of FreedomWorks. Read more: http://www.businessinsider.com/dick-armey-resigns-freedomworks-buyout-8-million-2012-12#ixzz2EBs2jGNI
FAIR USE NOTICE This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. For Information on RBC LLC SIPC and Excess SIPC protection http://www.rbcadvisorservices.com/partner/testimonials/cid-161786.html. For those clients of LY& Co and other interested persons the Quarterly Report on the routing of customer orders under SEC Rule11Ac1-6.
All SEC Rule11Ac1-6 Quarterly reports up to March 2, 2012 may be found by visiting
the diclosures at LY& Co Clearing Broker Mesirow Financial
at: http://www.tta.thomson.com/reports/1-6/msro/.
Annual offer to present clients of Lemley Yarling Management Co. Under Rule 204-3 of the SEC Advisors Act, we are pleased to offer to send to you our updated Form ADV, Part II for your perusal. If any present client would like a copy, please don't hesitate to write, e-mail, or call us. A list of all recommendations made by Lemley Yarling Management Co. for the preceding one-year period is available upon request. |
| 309 W Johnson Street Apt 544, Madison, Wi 53703 312-925-5248 | ||
| | ||
|