Honey's Bob Brinker Beehive Buzz: July 3, 2011, Bob Brinker's Moneytalk: Summary, Commentary, Excerpts and Discussion

Sunday, July 3, 2011

July 3, 2011, Bob Brinker's Moneytalk: Summary, Commentary, Excerpts and Discussion

July 3, 2011..................................................................[Post or read comments]

(Please bookmark this new blog address - I promise I won't be moving again.)

Bob Brinker took the 4th of July holiday off and Lynn Jimenez filled in for him. Jimenez is a business reporter for KGO810 radio.

I did not listen to the first two hours of the program so if anyone wants to comment about it, please feel free. Jeffchristie told me that he thought a major portion of the program was simply a "platform to bash U.S. corporations."

jeffchristie said...: .

If someone started listening to Moneytalk five weeks ago they might have the impression that Lynn is the regular host and Bob Brinker is the fill in. Lynn has been on 3 out of the last 5 weeks. At the end of her monologue Lynn said: "We are all capitalists here". Yes but some are European style socialists like you.

.

A first hour caller Rita in Martin Grove ILL said Lynn was a breath of fresh air. She felt that corporations have an ethical and moral responsibility to citizens. I wonder what she may have been thinking over and above what is in the US Constitution and the rule of law.

.

Another caller David in Chicago complained that companies who have brought cash back into the country and used it to purchase their stock rather than hire. He cited several news articles to back up his position. I say so what. If the stock buy back causes the share price to go up, wealth is being created for the shareholders. This is a positive for individuals and pension funds.

.

Another caller whose name I didn't catch claimed to be a libertarian who votes Republican. He said he will never buy another stock. He is in portfolio 6 which is 100% invested in silver.

.

Lynn talked about the debt ceiling. She doesn't think we have a crisis yet. She is worried they will make big cuts to Medicare and Social Security that will have unintended consequences.

.

I found it ironic that Moneytalk has turned into a platform where people bash corporate America and explain why they don't want to buy stocks. It seems to go against everything Bob Brinker has been teaching over the past 25 years.

July 4, 2011 7:17 AM

jeffchristie said...: Lynn also claimed that US corporations are paying too low of a rate when it comes to taxes. She bashed Cisco systems. She didn't however mention GE and GM which had profits and paid NO corporate income tax. Lynn also said Warren Buffet pays at a lower rate than his secretary. I wonder how many jobs this secretary has created? According to Yahoo Finance, Warren Buffet's company employs 260,000 people.

July 4, 2011 8:16 AM

Honey here again: However, Jeffchristie suggested that I download and listen to the third hour. The guest was Marilyn Cohen "Surviving the Bond Bear Market."

In general, Marilyn is bearish on the Treasury Bond market and she is strongly opposed to buying bond funds. She also said that TIPS are fully priced. Bob Brinker agrees and has told Moneytalk listeners that he no longer has any positions in TIPS (Vanguard Inflation Protected Securities). Indeed, he has removed all weightings from the Marketimer balanced model portfolio III and income portfolio.

Marilyn made several individual bond recommendations which sounded very much like high-yield. I have not researched these and would never even consider buying individual high-yield bonds, but here is the list that she recommended:

* Wynn First Mortgage
* CIT Financial (she said they had already declared bankruptcy and was now "in good shape."
* Conenterprises Inc.

Bob Brinker has never recommended buying individual issue high-yield bonds. However, beginning in April 2003, Brinker added a 15% weighting of Vanguard High Yield Corporate Bond Fund (VWEHX) to his fixed income portfolio. He increased that weighting to 25% in January 2011.

The last call of the day was surprising because Jimenez did not know about Annaly Mortgage Reit (NLY). And I wondered if Marilyn had done a quick Google search then bluffed her (IMO) convoluted answer. :) I have transcribed the call for you:

Caller Jim said: "I own bond funds and got the impression that she didn't particularly recommend them."

Cohen replied: "Your impression is absolutely correct. I don't particularly like them right now. Now what kind of bond funds do you own?"

Jim said: "They are taxable. NLY is one, it's paying me like 14%."

Jimenez exclaims: "WHOA!"

Cohen said: "Let me tell you, that's Annaly. Annaly isn't like a regular bond fund. You own that particular security and can get out any day, interday. A bond fund is a mutual fund....The long term bond fund is what I don't like right now because they have just been overwhelmed with investors. We've never seen such a stampede into taxable bond funds as we have since the credit crisis of 2008. Everybody got out of equities. Remember how Lynn started out the program, about how all the baby boomers went into gold in the '80s and then they went into housing and then they went into tech? Well they went into bond funds in 2008 with abandon. You know you're not locked into the yield that you are going to earn. You have other people that you have to worry about when their money flows out like we saw for 29 consecutive weeks with municipal bond funds. So your Annally is not anything like that."

Jimenez asked: "What is the Annaly?"

Cohen replied: "It's listed on the stock exchange. It is a stock, but they buy mortgages. They leverage the mortgages. It's a real estate investment trust that owns and manages all different kinds of assets on behalf of individuals and institutions. And the portfolio consists of mortgage-backed securities and sometimes pass-through securities - collateralized mortgage obligations. This particular security will do very well as long as short-term interest rates stay low. And remember, short-term interest rates are the only interest rate that the Federal Reserve can and does control. They can't control any intermediate or long-term rates. So he is getting the spread, the differential between what all these securities are earning versus what kind of cost of financing that Annaly is having to pay. And that's why he has such a large yield."

Jimenez asked: "What do you recommend that he do with those? Are those something that he should hang on to right now?"

Cohen replied: "Absolutely. Hang on to them. Continue to harvest your dividend. And as soon as short-term rates start moving up, which will eventually happen, but it isn't happening right now, this type of security is going to get hurt. No question about it. But for now, it's not broken; don't try to fix it. It's been a really good investment for the past few years."

I don't know what Cohen considers a "few years" but NLY took a beating in 2008. However, not as much as the stock market, and it never missed paying dividends. NLY went ex-dividend June 28th and will pay out 65-cents per share on July 28th. I own NLY -- right now, anyway. :)

Business Summary

Annaly Capital Management, Inc., a real estate investment trust, engages in the ownership, management, and financing of a portfolio of investment securities. The company invests primarily in mortgage pass-through certificates, collateralized mortgage obligations, agency callable debentures, and other mortgage-backed securities representing interests in or obligations backed by pools of mortgage loans. Annaly Capital also invests in Federal Home Loan Bank, Federal Home Loan Mortgage Corporation, and Federal National Mortgage Association debentures. The company has elected to be taxed as a real estate investment trust (REIT).

Moneytalk on demand and to go with Bob Brinker, is available for FREE audio/podcasting at KGO810 radio for seven days after broadcast. I download and save all three hours, including the third hour guest-speaker. (The program is archived in the 1-4pm time-slots.) If you don't download it from KGO within seven day, it's available at bobbrinker.com by paid subscription. KGO Radio Sunday Archives

This is a family member who is training for Ironman Canada (in August) for the Leukemia and Lymphoma Society at the top of Mt. Hamilton after a 17 mile ride. Her husband, who is a leg amputee because of a high school soccer accident, is also training. He wrote: "75 cents of every dollar you donate to LLS goes directly to blood cancer research. Thousands of people are alive today because of the research LLS has done! Whether it's $5 or $5000, every little bit counts! Let's find a cure to blood cancers!......you can support Jenny and I in our effort to complete Ironman Canada and fight blood cancers by going to http://pages.teamintraining.org/sj/ironca11/jerkyleg and clicking on "Donate.

POST AND READ COMMENTS

49 comments:

Anonymous said...: Ah yes, our favorite Lynn Jimenez.

And for only $7500 (or maybe even less) you could have Lynn Jimenez lecture all the Bees here.

Of course the money could come from the Market Timer profits. :)

http://keynotespeakers.com/speaker_detail.php?speakerid=5094; July 3, 2011 at 1:46 PM
Anonymous said...: My summary of the show, Jimenez has moderated the tone of her socialist rants, however even though she has moderated her voice and altered the form of her rhetoric the basic message exhibited her standard dichotomy. While making the case for mandatory benefits for all at the same time she claimed she did not think the Government should be in that business.

Essentially she is reflex socialist who masquerades as a free market business reporter who uses every opportunity to hawk her book. .

tfb; July 3, 2011 at 7:16 PM
jeffchristie said...: If someone started listening to Moneytalk five weeks ago they might have the impression that Lynn is the regular host and Bob Brinker is the fill in. Lynn has been on 3 out of the last 5 weeks. At the end of her monologue Lynn said: "We are all capitalists here". Yes but some are European style socialists like you.

A first hour caller Rita in Martin Grove ILL said Lynn was a breath oh fresh air. She felt that corporations have an ethical and moral responsibility to citizens. I wonder what she may have been thinking over and above what is in the US Constitution and the rule of law.

Another caller David in Chicago complained that companies who have brought cash back into the country and used it to purchase their stock rather than hire. He cited several news articles to back up his position. I say so what. If the stock buy back causes the share price to go up, wealth is being created for the shareholders. This is a positive for individuals and pension funds.

Another callers whose name I didn't catch claimed to be a libertarian who votes Republican. He said he will never buy another stock. He is in portfolio 6 which is 100% invested in silver.

Lynn talked about the debt ceiling. She doesn't think we have a crisis yet. She is worried they will make big cuts to Medicare and social security that will have unintended consequences.

I found it ironic that Moneytalk has turned into a platform where people bash corporate America and explain why they don't want to buy stocks. It seems to go against everything Bob Brinker has been teaching over the past 25 years.; July 4, 2011 at 7:17 AM
Anonymous said...: " She felt that corporations have an ethical and moral responsibility to citizens. I wonder what she may have been thinking over and above what is in the US Constitution and the rule of law." jeffchristie

I agree that corporations have an ethical and moral responsibility and the rule of law is just to make sure they don't forget.

Anti-trust laws, consumer safety laws, and corporate accountability laws regarding insider transactions, transparency etc are all necessary.

Who wants to go back to the robber barons like Rockefeller who says to hell with everybody else.

Corporations do indeed have a moral and ethical responsibility and if they refuse to acknowledge that basic premise, then laws SHOULD be promulgated to require it.

Sherman1890; July 4, 2011 at 8:01 AM
jeffchristie said...: Lynn also claimed that US corporations are paying to low of a rate when it comes to taxes. She bashed Cisco systems. She didn't however mention GE and GM which but had profits and paid NO corporate income tax. Lynn also said Warren Buffet pays at a lower rate than his secretary. I wonder how many jobs this secretary has created? According to Yahoo finance Warren Buffet's company employs 260,000 people.; July 4, 2011 at 8:16 AM
Anonymous said...: "Lynn also said Warren Buffet pays at a lower rate than his secretary. I wonder how many jobs this secretary has created? According to Yahoo finance Warren Buffet's company employs 260,000 people."

The old capitalist mantra trotted out again to justify why the super rich are deserving of all the tax breaks they can get.

Also used to give them extra tax breaks so they won't move out of state...overseas...etc etc.

Phony crapola sophistry.

Buffett himself says there is absolutely no justification as to why he should pay a lower tax RATE than his secretary.

Who's right Buffett or jeffchristie?

Sherman1890; July 4, 2011 at 8:41 AM
Anonymous said...: Frankj:

I listened to the 1st two hours. Normally the show moves along quickly but this time it was as if time stood still.

Interminably long rants from callers. Equally long "push back" from Lynn (to use her phrase).

Sherman says: "Corporations ...have a moral and ethical responsibility and if they refuse to acknowledge that basic premise, then laws SHOULD be promulgated to require it."

Well, yeah, Sherman, that will surely fix things. Pass a law telling corporations they have to acknowledge a moral and ethical responsibility.; July 4, 2011 at 8:58 AM
Anonymous said...: "Well, yeah, Sherman, that will surely fix things. Pass a law telling corporations they have to acknowledge a moral and ethical responsibility"

Nope Frank, you get some politicians with some degree of moral and ethical responsibility to TELL corporations i.e. pass laws...that's it's not alright to put lead in kids toys, it's not alright to fix prices, it's not alright to hire children, it's not alright to refuse service to blacks..etc.

All those laws have been passed in spite of corporations Frank.

The corporations think their sole purpose is to reward first the insiders and then, maybe, the shareholders.

Sherman 1890; July 4, 2011 at 9:33 AM
Anonymous said...: Sherman:

I quoted what you posted which was about passing a law to make corporations acknowledge a moral and ethical responsibility. That is what you said. It didn't make any sense. It would be a meaningless gesture on the part of Congress.

But it WOULD be great irony: Congress passing a law requiring other entities to act in a moral and ethical way.

Frankj; July 4, 2011 at 9:46 AM
Anonymous said...: "But it WOULD be great irony: Congress passing a law requiring other entities to act in a moral and ethical way."

Sure Congress could do that Frank. Gross violators could be hauled up before the House Ethics Committee itself. They have a lot of free time.

Just take a seat over there with Messrs. Rangle and Weiner please. We'll get right to you after election.

Sherman; July 4, 2011 at 9:58 AM
Honeybee said...: TFB,

I basically agree with your analysis of Jimenez.

What I wonder is why she felt the need to write a "bi-lingual" book.

.; July 4, 2011 at 10:29 AM
Honeybee said...: Sherman asked: "Who's right Buffett or jeffchristie?"

Why don't you post a link to a quote where Warren Buffett said what you claim he said, then we will compare that to what Jeffchristie said?

How much income do you think Buffett reports to the IRS on a W-2 form?

How much do you think his net worth increases tax-free every year?

How much does he shelter by giving it to liberal philanthropists like Bill Gates?; July 4, 2011 at 10:45 AM
Anonymous said...: In an interview on ABC’s "This Week," Warren Buffett, Chairman and CEO of Berkshire Hathaway, said that the rich should be paying more taxes and that the Bush-era tax cuts for the wealthy should be left to expire at the end of December.

Buffett said, "If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further."

He said, "But I think that people at the high end -- people like myself -- should be paying a LOT MORE in taxes. We have it better than we've ever had it."

It is the capital gains tax rate’s regressiveness that motivated Warren Buffett to expose the Republican’s dark secret: due to the capital gains rate reductions and counting payroll taxes, Buffett pays taxes at a lesser rate than his secretary and everyone else in his office.

Sherman1890

http://forums.contracostatimes.com/topic/gop-has-abandoned-fiscal-responsibility-by-adopting-%E2%80%98theology%E2%80%99-of-tax-cuts; July 4, 2011 at 11:25 AM
Anonymous said...: "How much does he shelter by giving it to liberal philanthropists like Bill Gates?"

LOL! You don't shelter money by giving it away HB! It's gone, poof and you don't pay taxes on what's not there do you?

Thank God for true philanthropists like Gates and Buffett.

Sherman; July 4, 2011 at 11:28 AM
Honeybee said...: Sherman,

You can laugh all you want at my claim that Buffett is actually "sheltering" money that he gives to SELECT philanthropists like Bill Gates, but the undeniable truth is that he is BUYING what he wants with the money and not paying tax on it.

He sure didn't give any money to Franklin Graham, who has done amazing work in Haiti and other places around the world. Or even the Salvation Army -- an impeccable organization.

So call it what you want, but a rose is a rose is a rose. And a dysfunctional taxing system is a skunk, is a skunk, is a skunk.

So what do you think keeps Warren Buffett from giving $Billions of dollars to the Federal Government INSTEAD OF, or in addition to, Bill Gates?

.

.; July 4, 2011 at 11:37 AM
Anonymous said...: "...but the undeniable truth is that he is BUYING what he wants with the money and not paying tax on it..."

The undeniable truth is that Buffett is GIVING AWAY his money to those charities he chooses.

What in the world is wrong with that?

If you want to give money to Franklin Graham or some other pseudo preacher con man then do it.; July 4, 2011 at 11:42 AM
Anonymous said...: It seems to go against everything Bob Brinker has been teaching over the past 25 years.

I am not so sure. I think Brinker is pretty much a socialist. It is obvious he does nto understand our Constitution nor embrace freedom and liberty.

tfb; July 4, 2011 at 11:48 AM
dav said...: Happy 235th birthday U.S.A.
I liked Lynn's program yesterday for the 1st time.She is almost as good as Ms.H.B.

I know that Ms. Cohen is a lot smarter and has more experiance than me,however,I can't rationalize buying High Yield "Junk" paper over High Yield Bond Funds.Could a small time individual retail investor imagine owning Young Broadcasting or Stations Casinos,Inc in 2009?Its a sure way to thrash someones portfolio.Not to mention a lot of sleepless nights!!!!!!!; July 4, 2011 at 11:54 AM
Honeybee said...: Aww....yes...giving away $billion to whoever he likes instead of paying taxes with it.

Thanks for making my point.

Too bad the average taxpayer who gets a W-2 or 1099 form doesn't have Billions to give to whoever they want.

Are you going to answer my question. Does Buffett get W-2s or 1099s forms like the taxpayers he thinks should be paying more tax?

And if he does have some income that is not tax-sheltered in munis, etc., how much is long-term capital gains?

While you are at it, tell us about his out-of-the-country money.
.; July 4, 2011 at 11:54 AM
Honeybee said...: Hi Dav,

Thank you for the compliment. I'm sure Lynn appreciates it too.

Indeed, Happy Birthday America!

"I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands, one Nation under God, indivisible, with liberty and justice for all."; July 4, 2011 at 12:01 PM
Honeybee said...: FrankJ,

"...time stood still."

LOL!!! :); July 4, 2011 at 12:04 PM
Anonymous said...: He said, "But I think that people at the high end -- people like myself -- should be paying a LOT MORE in taxes. We have it better than we've ever had it."

Uh, and you believe Buffet? And you speak of Robber Barrons and morality and responsibility of corporations. Did you see the deals he cut to lend liquidity to companies when he had them over the barrel? He essentially robbed the honest shareholders, men, women, charities, pensions of their wealth by what amounted to extortion.

I admire Buffet's business savvy but he has the morals of a alley cat in heat.

His job is to maximize his shareholders wealth and he does so with no mercy, none whatsoever. Btw the swarming masses labor unions are just the same. A bunch of cutthroat rogues who have raped and pillaged every corporation they can - ribbing honest hardworking men, women, pensioners, orphans of the just returns of their invested capital.

What you speak of is a naivete that belays the true nature of man.

tfb; July 4, 2011 at 12:26 PM
jeffchristie said...: TFB

Lynn has me confused. She went into a rant that US corporations pay very low income taxes. Doesn't she realize they have to pay state income taxes as well as federal. In many states the combined total is amongst the highest in the world.

http://www.taxfoundation.org/news/show/22917.html; July 4, 2011 at 1:45 PM
Anonymous said...: Congress passing a law requiring other entities to act in a moral and ethical way.

Hi, I,m Barney "Tinkerbell" Frank and I have a Page Boy boyfriend who also ran a male prostitution ring out of my apartment. And I think corporation engage in immoral behavior.

Hi I am the ghost of Ted Kennedy, I am a drunken liar, who murdered a young girl but got off due to my families political connections. I also sexually assaulted several waitresses and bar maids and then bribed them with thousands of dollars to keep their mouth shut - an I think Businessmen are immoral and we need to pass aws against what they do.

Hi I'm Mark Kirk, and boy when you find out what I do in my persona life….by the way I think corporations are immoral and...

Hi I’m Newt Gingrich…let me tell you abut my patriotism….

Hi I’m Barack Obama, I think babies should be murdered….

Yeah, let’s allow our Government to define morality, great plan.

tfb.; July 4, 2011 at 2:28 PM
Anonymous said...: Are Taxes in the U.S. High or Low?

By BRUCE BARTLETT

Bruce Bartlett has served as an economic adviser in the White House, the Treasury Department and Congress.

Historically, the term “tax rate” has meant the average or effective tax rate — that is, taxes as a share of income. The broadest measure of the tax rate is total federal revenues divided by the gross domestic product.

By this measure, FEDERAL TAXES ARE AT THEIR LOWEST LEVEL IN MORE THAN 60 YEARS. The Congressional Budget Office estimated that federal taxes would consume just 14.8 percent of G.D.P. this year. The last year in which revenues were lower was 1950, according to the Office of Management and Budget.

The postwar annual average is about 18.5 percent of G.D.P. Revenues averaged 18.2 percent of G.D.P. during Ronald Reagan’s administration; the lowest percentage during that administration was 17.3 percent of G.D.P. in 1984.

In short, by the broadest measure of the tax rate, the current level is unusually low and has been for some time. Revenues were 14.9 percent of G.D.P. in both 2009 and 2010.

Yet if one listens to Republicans, one would think that taxes have never been higher, that an excessive tax burden is the most important constraint holding back economic growth and that a big tax cut is exactly what the economy needs to get growing again.

Sherman1890

http://forums.contracostatimes.com/topic/gop-has-abandoned-fiscal-responsibility-by-adopting-%E2%80%98theology%E2%80%99-of-tax-cuts; July 4, 2011 at 2:35 PM
Anonymous said...: David Stockman has spoken out before, but took perhaps his strongest stance yet against his own party today, saying “I’ll never forgive the Bush administration” for “destroying the last vestige of fiscal responsibility that we had in the Republican Party.”; July 4, 2011 at 2:38 PM
Anonymous said...: This comment has been removed by a blog administrator.; July 4, 2011 at 2:54 PM
birdbrain said...: Jeffchristie:

Are you sure about this portfolio six, 100% invested in silver?

I'm such a fool. Since 2000 I have mistakenly been invested in Mr B's portfolio sixteen, 100% QQQ.

When my grandson asks if he will have money for higher education I respond "we are holding for recovery."

Happy birthday, America.; July 4, 2011 at 5:33 PM
Anonymous said...: Lynn has me confused.

You do not need to be confused any longer. She is an idiot. That is about all you need to understand. I have listened to her enough, and checked enough into her background enough to understand that there is no reason to listen to her babble and accord it merit.

At best she may occasionally parrot some truth that others have espoused, and typically she just mumbles platitudes that are designed to promote her political and ethnic agenda.

She is a reporter, she hears the news and reports it; she is not able to accurately interpret what she reporting on and only has peripheral knowledge of business. She is out there to advance an agenda an simply believes by infiltrating the business marketplace she can have an influence on the direction this country is taken. She is simply yet another media enemy out to diminish the greatness of this nation and usher in socialism.

Brinker in the other hand actually knows some things, primarily about how the banking system works. He quickly falls down when it comes to economics, political systems, the Constitution or technology.

tfb; July 4, 2011 at 5:57 PM
Anonymous said...: Frankj

I thought Portfolio 16 was collecting deposit cans and bottles for recycling.

Happy Independence Day to my friends here.; July 4, 2011 at 6:13 PM
Honeybee said...: From Seeking Alpha about Annaly Capital:

(Snip)

Despite being long-term holders of the stock, we believe Annaly is technically overbought at current levels. We certainly are not sellers of the stock since the trend is still very strong (and we are clipping a 14% dividend), but we caution investors to wait for a near term pullback to put new money to work.

(Snip)

That said, Annaly is by far the largest mortgage REIT (by market cap) and it has a very tenured management team with a proven ability to manage its mortgage portfolio through various interest rate environments. Due to these factors, Annaly has historically traded at a premium to book value. Since 1998, Annaly's average price to book value has been 1.24x (see table below). So at the current level of 1.14x, the stock is actually trading below its historical average.

(Snip)

Conclusion:

We don't necessary think that Annaly is overvalued at current levels, but we do think that the stock is technically overbought. Given that the third quarter dividend is three months away, we will continue to monitor the situation and wait (hope) for a modest pullback in the price to put new money to work. We encourage investors to do the same.

Is Annaly Capital Currently Overvalued

.; July 4, 2011 at 8:04 PM
Honeybee said...: Happy Independence Day to you FrankJ, and to everyone.

BTW: I think portfolio 16 is actually invested in expired lottery tickets. :)

.; July 4, 2011 at 8:13 PM
Honeybee said...: TFB,

There are a couple of important names missing from your list:

Anthony the Weiner, and Rod the now-convicted Blago.

.; July 4, 2011 at 8:19 PM
Anonymous said...: Anthony the Weiner, and Rod the now-convicted Blago.

Actually I left them off deliberately. I don't like either, but id truth be told I think both are mentally ill and unable to discern reality from the castle in the sky they live in.; July 4, 2011 at 8:26 PM
Honeybee said...: Birdbrain said: "I'm such a fool. Since 2000 I have mistakenly been invested in Mr B's portfolio sixteen, 100% QQQ."

Oh dear, Birdbrain. Didn't you get the last word on those QQQs that you are "holding for recovery?"

Bob Brinker issued a new buy on them in March 2003. And he MUST have intended that you simply use the same money that you have used before like he did, (even though 70% of it was gone), because he added them to his model portfolios that time.

.; July 4, 2011 at 8:27 PM
Honeybee said...: TFB,

Yes indeed.... Sickos, both of them.

.; July 4, 2011 at 8:32 PM
Anonymous said...: "What I wonder is why she[Lynn Jimenez] felt the need to write a "bi-lingual" book."

Obviously because she thought it would sell.

Lynn is a bi-lingual business reporter and it makes only good sense to use that knowledge to educate Spanish speaking readers.

I just wish more financial self-help books were available for the
Spanish speaking community.

Kudos to her on her valiant public service.

Jose Aguilar; July 5, 2011 at 6:05 AM
Honeybee said...: Jose,

I'm glad that you read and write English. How nice for you that you are mainstreamed and have a chance to get ahead in this world and can communicate with us here.

English is the international aviation language and the language most commonly used in business.

However, being bi-lingual is wonderful. I realized how wonderful it is when on a cruise ship on the coast of Norway.

The cruise director spoke five different languages in rapid succession. It knocked my sox off! (Spanish is not the only other language.)

That said, why would Lynn think that anyone listening to KGO radio would not be able to read and write English?

.; July 5, 2011 at 7:37 AM
Anonymous said...: "That said, why would Lynn think that anyone listening to KGO radio would not be able to read and write English?"

Oh, I don't think that Lynn thinks that all KGO listeners are not able to read and write English.

It's just that Lynn Jimenez has been a big booster of the Latino community her entire life and I think her book is a novel way of saying thank you to her supporters.

You don't see many books on any subject written in both Spanish AND English concurrently in the same book, and I think it's an excellent approach to learning both languages.

It won't be long before the Latino population becomes the dominant, if not majority, population in states such as California and Lynn's approach may be one way to teach English to the Latinos, and Spanish to the Anglos.

All would be able to read a bi-lingual textbook.

Jose Aguilar; July 5, 2011 at 8:09 AM
Honeybee said...: Oh thank you for explaining that Jose.

So you are saying that a majority of the Spanish-speaking people in the US now do not intend to assimilate into the culture and language of the US.

But rather want to turn this country into the hell-hole that many of them came from via the desert, back of a truck, or a tunnel in the middle of the night.

Yep, makes sense to me. Now the subject is closed.; July 5, 2011 at 8:16 AM
Anonymous said...: This comment has been removed by a blog administrator.; July 5, 2011 at 8:24 AM
Honeybee said...: Jose,

There will be no free advertising on this blog unless I approve it.

You may have noticed that only Google ads are now permitted.

If anyone sees a product they are interested in and clicks on those ads, it will compensate me in a small way for my work here.

.; July 5, 2011 at 8:32 AM
Anonymous said...: Jose is making the case for me as to what Jimenez is all about. She is part of a political agenda - period.

tfb; July 5, 2011 at 11:53 AM
Anonymous said...: Calpers inks three-year contract with State Street

NEW YORK (MarketWatch) -- California Public Employees' Retirement System struck a three-year deal with State Street Corp. allowing the bank to continue handling custody work for the nation's largest pension fund, said a published report Wednesday.

The contract, worth about $5.7 million in annual revenue, was signed after California governor Jerry Brown sued State Street in 2009 when he was attorney general for "unconscionable fraud" against pension funds over foreign-exchange pricing, said Bloomberg News.

The deal suggests that lawsuits facing State Street and rival Bank of New York Mellon Corp. could do little damage to custody banks' ability to continue business with public pension funds.; July 6, 2011 at 6:24 AM
Honeybee said...: Last time Bob Brinker did Moneytalk, he said that Portugal and Ireland were much more important than Greece.

From Schwab news this morning:

"US equities are lower in early action, after Moody's Investors Service's four-notch downgrade of Portugal brought the euro-area debt crisis back to the forefront of traders' minds."

.; July 6, 2011 at 7:45 AM
Honeybee said...: Jim Cramer's stock picks over the past thirty days according to Insider Monkey at Seeking Alpha:

"Jim Cramer is the host of CNBC's Mad Money and the chairman of TheStreet.com. In 1987 Cramer started his own hedge fund and returned an average of 24% per year between 1987 and 2001. Cramer also authored six money management books.

During the last 30 days his favorite buy recommendations (based on number of days the stocks were mentioned) on Mad Money were as follows:

Chipotle Mexican Grill (CMG)

Alcoa (AA)

Baidu.com (BIDU)

EMC (EMC)

Verizon (VZ)

Cramer's favorite stock recommendations returned 40.9% on average since they have been recommended. The average relative performance of these stocks against the S&P500 is 28.1%. All of his favorite stocks have managed to beat the market."

Read more: Jim Cramer's 5 Favorite Stocks

.; July 6, 2011 at 8:16 AM
muckdog said...: I wouldn't expect business reporter Lynn Jimeniz to know about NLY, or any particular stock in general. I doubt she knows the difference between the 50dma and the 200dma, or has a clue to what the MACD is. If you are expecting a conversation about double-tops or countertrend rallies, you're listening to the wrong fill-in host.

I realize some people prefer a more generic take on finance, and may find Lynn Jimeniz a refreshing change of pace.

If that doesn't describe you, then try a podcast of KFI's Charles Payne on the next fill-in day.; July 6, 2011 at 10:19 PM
Anonymous said...: Bond fund flows outpace equities in second quarter

Inflows to bond funds accelerated in the second quarter according to data compiled by EPFR.

Bond funds attracted five dollars for every one dollar committed to equity funds in the period. That was a turnaround from the first quarter when equity funds outpaced bonds 3 to 2.

The flows weren’t continuous, however.

High-yield bond funds saw $8 billion in redemptions during June, with growth sector and Europe bond funds also seeing redemption activity.

Over the first six months of the year, money committed to floating rate funds rose 41%, while mortgage backed funds added 16% and emerging markets local currency bond funds saw inflows rise 14%.

-Tom Bemis; July 7, 2011 at 4:28 AM
Honeybee said...: Hi Muckdog,

Thank you for your comments. I agree with you.

However, it does surprise me a bit that Bob Brinker would have a fill-in like Lynn Jimenez instead of someone with more financial/investing acumen...

.; July 7, 2011 at 6:57 PM