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I am writing this on Wednesday right before we leave for Orlando. The market opened higher as is not surprising but I cannot see it going higher before it re-tests and I believe has more downside.
Trump will speak tonight and defend his administration and lay out what they are doing but the Democrats will attack him because that is what they do since he can do nothing right in their eyes and they fear , should he win re-election, he will continue to take away their power.
Furthermore, every crisis allows Democrats to spend money and Schumer and Pelosi are now asking for 7 billion and Trump is seeking less than 3. Liberals believe spending money is the way to heaven. They believe it is a Godly act. and the more they seek the more they believed they are assured they will enter The Pearly Gates and be assigned cushy jobs.
What is so ironic is Schumer and Pelosi are accusing Trump of not knowing what he is doing and yet want to give him more money than he wants at this time. Go figure.
Just returned from Orlando and I wrote this while there:
I have often warned when I leave town, have been in Orlando since Wednesday, you get increased volatility and this time was among the most volatile. The primary issues that have driven the market down remain with us Over valuation has largely been cured unless economic disruption, caused by the coronavirus, wrecks earnings and earning projections. Certainly it will put a dent in them.
That said, I am writing this on Friday before the market opens. I expect some further pressure on the downside but believe it is now reasonable to begin nibbling at a variety of stocks that offer compelling values, some excellent yields and all good appreciation prospects long term with a variety of risks.
Capital goods and basic industry - DOW Chemical - DOW.
Freeport - Mc Moran - FCX (speculative)
ACUITY - AYI
Consumer _ Kraft Heinz - KHC (Higher risk)
Walgreen - WAG (Has near term issues.)
Newell Brands - NWL (Speculative)
Technology - Apple - AAPL (Chinese impact.)
Cisco- CSCO (Near term product demand issues.)
Qualcom - QCOM(Somehwat tied to AAPL but has 5G demand as an offset.)
Intel - INTC (Commodity company that has been behind the curve.)
IBM - IBM (long shot but new management could turn company around.
AT&T - T
Crowdstrike Holdings - CRWD (very speculative)
Tencent Holdings - TCTZF (Chinese Entertainment Conglomerate)
Energy - Baker Hughes - BKR (Any company connected yo energy is under big cloud.)
Schlumberger - SLB ( Being challenged by other oil service companies.)
EMERA - EMRAF (Long term demand for electricity tied to growth in Tampa area.)
Suncor - SU (Paying down debt, raising dividend and reducing drilling for new energy.)
Kinder Morgan - KMI (Raising dividend, reducing debt.)
Financial - Manulife - MFC (Hong Kong and other Asian markets currently impacted.)
KKR - KKR (Bet on management.)
Blackstone - BX (Same as KKR - BX more heavily committed to real estate.)
AIG - AIG (Turnaround begun?)
Citigroup - C (Lagging value.)
Wells Fargo - WFC (Gradually getting it's act together.)
Invesco - IVZ (Oppenheimer Acquisition offers some growth prospects but leveraged balance sheet.)
Health - Abbvie - ABBV (Solid research.)
Bristol Myers-Squibb - BMY (Cander drug prospects.)
Merck _ MRK (Premier cancer product.)
TEVA - TEVA (speculative)
Crispr Therapeutics - CRSP (Very speculative)
The political scene has escalated from ridiculous to tragic. Schumer, Pelosi et. al have proven more dangerous than the virus itself. Their constant harangues and attacks on Trump are, not only blatant, but also downright spurious and despicable.
a)They accuse Trump of acting late while they were the ones engaged in keeping Congress pinned down with delaying impeachment tactics. When he acted he was ridiculed as overreacting.
b) Democrats have been doing their level best to incite and create fear and panic in hope it would bring the market down so as to gain campaign leverage and reduce Trump's odds of victory. Like with the impeachment , these actions will boomerang.
c) Those seeking the Democrat nomination are all basically radical. Even those who might be considered rational have moved far left in order to appeal to those who would trade capitalism for socialism. In doing so, they too find nothing positive Trump has accomplished adding more logs to the Hate Trump flames resulting in further political discord. Remember when Bill Mahr said he was hoping fora recession.
d) The entire world is facing a new medical challenge for which it was ill prepared and was basically caused by dire health conditions in China and Communist party hiding facts in order to protect itself from the obvious. However, for political reasons, blame is being placed on Trump and the radicals are being supported by a biased and totally disingenuous mass media which Atty General Barr called out in a recent speech.
Democrats are weaponizing a tragic event and deserve to be thrashed come election time.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++Israel announced they expect a virus drug to be in trials shortly:https://www.wsj.com/articles/
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Have not heard a lot about the Beer plant murders. Is it because it does not fit the mass media's biased narrative? http://www.ruthfullyyours.com/
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Has The New York Time's decided to cutback on editorials since they no longer know what the truth is because they have become immersed in their own lies?
Hank was a friend since 1952. He was the faculty advisor of my college fraternity and subsequently spoke for me when I moved to Savannah and began my Speaker Series. Hank was "the" authority on The Supreme Court's History and former Justice Scalia was one of his dearest Court friends.
Hank was a brilliant professor and when he did not get tenure, he so richly deserved at Penn, he re-located to The University of Virginia and was immediately given tenure. He was beloved and will be sorely missed.
Every year after he retired a lecture series was named in his honor. Professor Barbara Perry was a dear friend and in charge of the series named after Hank. Me
Dear Friends:
It is with profound sadness that I must report the passing of our beloved Henry. He succumbed to the infirmities that accompany achieving 98 years of living a full and extraordinary life. But, when I last saw him, he was not in pain and was his smiling, cheerful self. As he would say, “death came as a friend.”
We will carry on with the May 1 Abraham Lecture as planned, with Neal Katyal, and will raise a glass (or 2!) in Henry’s honor. His indomitable and inextinguishable spirit will always be with us.
A private burial with the family will be held, with a memorial, as yet unscheduled, in the future. You can consult the Charlottesville Daily Progress (or Regress, as Henry liked to call it) for an upcoming announcement. (https://www.dailyprogress.
Henry’s sons Phil and Pete are cc’d above, as are my colleagues at the Miller Center, Natalie and Alfred, should you have any questions for the latter about the Abraham Lecture logistics. Be sure to respond to the Eventbrite electronic invitation, if you have not already done so. The Abrahams’ WCBR address is 205 Pan Tops Mountain Road, #5311, Charlottesville, VA 22911, if you wish to contact Mildred.
Thank you all for your support of the Abraham Lecture and its namesake. He loved you beyond telling. Barbara
PS I am on the road over the next weeks, so I may not be able to respond to calls and e-mails as quickly as the Germanic heritage that I shared with HJA would ordinarily demand.
Thank you for understanding.
On Dec 11, 2019, at 6:05 PM, Barbara Perry <perry@sbc.edu> wrote:
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Dear Friends of the Abraham Lecture:
We are pleased to announce that Georgetown Law Professor Neal Katyal, Hogan Lovells partner, former acting solicitor general, author, and media commentator, will deliver the 22nd annual Henry J. Abraham Distinguished Lecture, on Friday, May 1, 2020, at the University of Virginia’s Miller Center, 2201 Old Ivy Road, at 3:00 p.m., in the Forum Room. Free parking is available at the Miller Center. Please note the earlier start time, which was necessitated by Professor Katyal’s schedule.
The Miller Center now requires that all attendees register electronically for events. Watch your e-mail for an “Eventbrite” invitation to the lecture from the Miller Center. Please register promptly to guarantee a seat before the event is opened to the public for registration. We want to try to ensure that Friends of the Abraham Lecture who have registered have a seat in the Forum Room (rather than in an overflow space), but please arrive early for that privilege. My colleague, Natalie Russell, can answer any questions you might have about registering. Her e-mail is cc’d above, and her phone number is 434.982.3719.
Professor Katyal is a Phi Beta Kappa graduate of Dartmouth, holds a Yale Law degree, and was an editor of the Yale Law Journal. He clerked for Judge Guido Calabresi of the U.S. Court of Appeals for the Second Circuit and then U.S. Supreme Court Justice Stephen Breyer. He has argued 39 cases before the Supreme Court and has just published a book on impeachment, which we plan to have available for purchase and signing.
We hope that you will be able to join us for the lecture in Henry’s honor at the Miller Center, as well as for drinks/dinner to follow (5:00 p.m.), at Westminster-Canterbury of the Blue Ridge, Rotunda Room (on the main floor of the central building), 250 Pantops Mountain Rd., Charlottesville 22911. Free parking is available in the guest lots throughout the WCBR complex; just ask the attendant in the gatehouse for directions. Please do not park in front of residents’ cottages, but all other unmarked spaces are open to guests.
Sincerely,
Barbara
Barbara A. PerryChair, Abraham Lecture Steering Committee
52% of $31,200 = $16,224 in tax
$31,200 - $16,224 = $14,976 is your pay
$14,976 + 52 weeks= $288 per week
$288 + 40 hr week = $7.20 per hour
Way to go Bernie!!!!
Math. It's fascinating.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++In a previous memo I posted information pertaining to "The Trump Rule’s Congressional Reform Act Of 2018." There was no such proposed legislation. It was a series of conservative ideas/proposals presented to him.
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