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About Me

Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Friday, November 02, 2007

Quick Notes

1. Leading economic indicator set weakened slightly more
in Oct., but growth indication still posiitive, albeit

2. Yr/yr growth of employment through Oct. was a slim 0.5%.
Wage growth was 3.8%. Underlying consumer purchasing power
continues to erode.

3. Heating oil has broken out to the upside and on deck is the
wholesale price of gasoline, set to break out
above the 2.35 - 2.40 per gal. area. Retail gasoline price
continues to inch up, but now has potential to run up to the
$3.25 area again.

4. Support for SP500 has firmed at 1500. Let's see how they take it
out today.

1 comment:

Orlando said...

Enjoy reading your work.

Did you see Bill Miller's recent letter to shareholders? Thinks large cap, US-centric financial, health care and consumer stocks are attractive now over next 5-year holding period. Not sure about the consumer or health care but I'm warming to financials in here. Lot of bad news out and the boards finally seem motivated to do something. Plus they have the Fed watching their back. Thoughts?