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August, 2017 Archives

Talk's Cheap

by Jon S. Strebler

 

The big story last week was significant ratcheting up of war talk out of N. Korea, followed by “I’ll see you, and raise you” from the U.S. Stock prices swooned around the world, as everyone wondered just how far two of the world’s most volatile leaders, backing nuclear-powered militaries (sort of, in N. Korea’s case), might push things. The vulnerability of stocks to an overdue correction has been widely touted; sometimes corrections seemingly develop out of nothing, and sometimes a dramatic event precipitates them. Could this be an example of the latter? 

 

 

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Complacency Doesn’t Rule

By Matthew Kerkhoff

 

Until just recently, stock market volatility had been exceptionally low, leading many to believe that this market had become “complacent.” That assessment elicits concern, because many view complacency as a warning signal … a calm before the inevitable storm.

 

Well … as Hyman Minsky taught us, that storm will come, and in many ways it will be a direct result of our complacency. But right now, U.S. equity investors seem to be anything but.

 

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Richard’s Thoughts on the Impossible Happening

Richard’s Comments

 

Many years ago, when I was still living in NYC, I had a subscriber, a Swiss man named Jay Pfister.  Jay owned a chemical company.  During the early 1930s Jay sold his company to American Cyanamid.  That sale made Jay quite wealthy, and he had a home in NYC and one in La Jolla.  

 

It was Jay who first told me about La Jolla.  Jay suggested that I leave Manhattan and enjoy "a better life" in La Jolla.  I thought a lot about Jay's advice.  In 1961 I followed his advice, and it proved to be one of the best pieces of advice I've ever received.

 

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China's Secret Plan

By Chuck Butler

 

Welcome back to the Butler Patio, where we discuss things with no holds barred! But attempt to keep some levity to the discussion, because, well, I don’t want to have to warn you to put away the sharp objects before you read the letter! 

 

I’m going to talk about China today, so I hope you have an appetite for this discussion! I’m actually on my summer vacation, while I write this letter, but no biggie, just a few hours away from the beach! And speaking of the beach, here are some pictures from my beach…

 

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Six Sizzling Data Center REITs

By Dr. Carla Pasternak

 

Do you watch Netflix? Listen to Ted talks? Store your photos on the cloud? If so, you can thank a data center real estate investment trust (REIT). These high-tech storage centers house computer systems. Yes, the data you download on your cell phone, tablet or TV is actually stored in old-fashioned bricks and mortar facilities rented by the likes of Facebook, Google, and other cloud, digital media, and software firms.

 

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Status Quo Est Eximio

By Jon S. Strebler 

 

If I remember my one year of Latin studies in 8th grade correctly, this means something like: Everything’s pretty good right now. At least in the markets. We’ve recommended moderate positions in stocks, both US and otherwise, for quite some time in line with the bull in The Box. With hindsight, we would like to have owned more, but this is an advisory service for conservative investors, the market has long been vulnerable to a big correction and – well, you know the story.

 

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