STOCKS....(Honey comments: The S&P 500 Index was virtually unchanged last week and is now down 0.96% year to date.) Today Bob Brinker told caller Mark from Connecticut who was near retirement that a good equity allocation remains at 50%, with the other 50% in low-duration bond funds. (Brinker makes some stock market comments in dRahme's Audio Clip with the Canyons of Wall Street report - below.)
ASSUMING THE OUTLOOK REMAINS FAVORABLE, KEEP DOLLAR-COST-AVERAGING..... BB also recommended dollar-cost-averaging for new money - with one exception. Brinker said: "Assuming the market outlook is favorable - obviously we don't know years ahead - yes, I would prefer certainly when you ate in retirement and moving toward retirement to get to that 50-50 goal.....Let me give you a scenario that we don't know will happen. Let's make an assumption that over the next couple of years the market outlook remains favorable. Now we don't know that right now, we have to wait and see, but on that assumption, I would move toward 50 to 60% equity ratio to prepare for an asset allocation that makes sense to me in retirement."
MARKETIMER COMMENTS.....Caller Greg from Illinois said he was near retirement and invested in Marketimer model portfolio II (100% equities). Brinker said: "That would take us to a different portfolio - balance portfolio III - in or near retirement.... I'm comfortable with investing in the 50% of that portfolio that is in the bond market, which is in short duration bonds with an average duration of less than one year...... "
Honey EC: Brinker neglected to tell Greg that 20% of that "50% in the bond market" in portfolio III is actually in the Vanguard Prime Money Market Fund - but he did say it later on. He also didn't mention that OSTIX is a junk bond fund with a duration of 1.5 years. The only other bond holding in portfolio III is DLSNX.
DOLLAR-COST-AVERAGE UNTIL BRINKER SEES THAT BUY-SIGNAL.....BB continued with Greg: Now that leaves the stock market portion, and I would do a dollar-cost-average approach as of today. now this could change. For example Greg - you follow the investment letter - if we were to get to a point sometime this year where we upgraded the market to attractive for purchase - that's the equivalent of a buy signal - if that were to happen, then of course I would go forth and make the investment.....As of today, I prefer dollar-cost-average for new money going in as part of that strategy....
Honey EC: Brinker advises all of his followers to keep all equity allocations fully invested, but for those few who have new money, he likes to try to find the bottom of corrections. He never calls market tops. The last time he raised cash was in year-2000.
ONLY INVESTMENT FOR ULTRA-CONSERVATIVE AND RISK-AVERSE....BB told caller Paul from Connecticut who said he remembered the 2008 "collapse" of the stock market and was worried now that a ladder of FDIC insured Certificate of Deposit would be ultra-conservative for the risk averse. BB recommended laddering with 3, 6, 9, 12 month CD and rolling the 3 month over into 12 month when renewing them.
BONDS, INTEREST RATES.....Brinker commented that the current yield on Vanguard Prime Money Market Fund is now up to 1.8%. - and he said that Marketimer model portfolio III - which is a balanced portfolio - has a 20% holding in VMMXX (in the bond portion).
TREASURIES.....BB pointed out that the 10-year Treasury closed above 3% this week, but now is just below 3%.....the next question is, will loan rates go up?
GROSS DOMESTIC PRODUCT: BB comments: The GDP for 2017 was 2.6, a moderate growth pace which is good because it avoids "overheating" - the "quickest way to get into trouble in the stock market. It almost inevitably leads to trouble."
==> dRahme Audio Clip: GDP numbers and comments about 2017 and Q1 2018; will taxpayers always be there to pay promised pensions.
COMMERCE SECRETARY WILBER ROSS....BB commented that Wilber Ross announced that the Trump administration plans to extend relief from steel and aluminum tariffs to some countries, but not all, when their temporary exemptions expire on Tuesday.
SPRINT - T-MOBILE MAJOR MERGER....BB talked about the possible merger between Sprint and T-Mobile
==> dRahme Audio Clip: Wilber Ross and steel and aluminum trade deals; T-Mobile merger; Treasuries this week; Vanguard Prime Money Market in Marketimer;
WAS BRINKER IN THE MILITARY....Caller Keith from Boise, Idaho asked Brinker if he had been in the Military since he was familiar with their "alphabet." Brinker did not answer the question - he simply said that he had always been interested in the Military Alphabet.
NEXT WEEK IN THE CANYONS OF WALL STREET:
==> dRahme Audio Clip: PCE vs CPI Inflation; tsunami of paper from Treasury; ADP employment report - tight labor market; stock market statistics
FRANKJ'S MONEYTALK GUEST AUTHOR SUMMARY
Bob’s third hour guest on
April 29, 2018 was ANOTHER person peering into the future and reporting on the
role of artificial intelligence. From
Wikipedia: “Joshua Gans holds the
Jeffrey Skoll Chair in Technical Innovation and Entrepreneurship at the Rotman
School of Management, University of Toronto. Until 2011, he was an economics
professor at Melbourne Business School in Australia.” The guest wrote a book titled, “Prediction
Machines: The Simple Economics of
Artificial Intelligence.” The coauthor
is Ajay Agrawal.
Editorial Comments in italics as usual.
The interview started out
with a noisy phone line. Bob had to drop
the guest and filibuster while Ravi got things squared away.
The interview touched on
some of the usual jobs that have been discussed before in this context:
·
Truck
drivers. They do more than just
drive. Really that’s about all the guest
added to this topic.
·
ATM machines
did NOT replace bank tellers as feared.
They made it possible for tellers to introduce customers to more bank
products. Was anyone thinking about Wells Fargo here? I’ll bet Bob was.
·
And, another
job class was introduced today. AI will change the role of school bus
drivers. While the computer is driving
the bus, the “driver” can spend more time looking at the children. Scary.
The usual college question
followed: “What would advise someone to
study?” The prof said choose a major
that teaches you how to think, don’t choose one with a particular job in
mind. There followed a long professorial explanation
on how data is the new oil. Oil fueled
(fuels) the economy, AI will be just as necessary in the future. Then, the
professor explained AI will benefit people as it is used by the medical
profession and insurance companies.
I’m not sure the professor saw the same irony I did
in the juxtaposition of those two fields of endeavor.
Before the half-hour break
Bob said he’d be taking calls. After the
half-hour break, there were no calls. Or
at least Bob did not take any. Normally, I figure no caller had a question
worthy of putting on the air. But after
the week after week of futurists, I think maybe I am the only person left
listening.
We learned that Amazon has
the potential to lower costs, but they still only account for 4% of retail
sales in the U.S. The prof predicted
that when they know more about our buying habits they’ll figure out what to
deliver without us ordering anything.
You’ll be able to accept or reject the delivery. He likened it to the milkman in the old days
who knew how much to deliver because he knew what you consumed.
I am old enough to remember the milkman delivering
milk. Much as we might like to credit
him with being a close watcher of our milk-consumption, he actually delivered
the quantity my mother asked him to deliver. I also remember my father telling me when he
was a young man, the milk would freeze and expand in the winter. The cream, which was on top, would push the
paper tops up off the bottles and neighborhood cats would lick the
frozen cream. No one got too
excited.
Honey here: Thanks for that great summary of a subject that is quickly getting repetitious and boring.
I'm not sure I understand why the big push for driverless cars and trucks. Likely, if we follow the money, it will all become clear to us. The only AI that I need is my Roomba - can't live without my Roomba. Although they have been said to have swallowed cats, mine survived all Roomba attacks. :)
72 comments:
Was caller Sean a prank? Worked under the table. Can buy a house in California for 20k free and clear. No children that he knows of.
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I think it is a distinct possibility. :)
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Wonder who Brinker thinks he is kidding by suddenly beginning to announce: "We are taking calls during THIS hour of the program."
He must be getting a lot of complaints on his days off when no calls are being taken and is trying to cover his butt. He can now just ask if "taking calls" was announced.
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At 45 minutes into the second hour, Brinker may have fallen asleep during Carol's call - I don't blame him. I almost did. LOL!
I think the mom giving her son 50-110k to buy a house eaten up by termites may have caused Bobby to pass out. She was left "hangin".
LOL @ dead air and Bobby ducking out and going to break. That woman should re-think things IMO. It sounds like her son is going to get in over his head, with that one property he wants to buy having a damaged foundation from termites.
Call me biased, but "investment properties" are the last thing I would want to own.
6 minutes later, still dead air. Amazing!
Honey would your relationship with Bobby be best termed love-hate?
In not uncommon to feel both emotions about people, groups, etc. For me, Walmart. Love to shop there. Great selection, app, ease of use. But, I hate how rotten they treat their employees.
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Uncle Ollie...I respect Brinker's teaching abilities. I have covered this many times over the years. Most of what I know about investing, I learned from him.
But my "relationship" TOWARD Bob Brinker is one of total honesty. I have been told that I pull more of my punches these days than I used to - I think that is correct. But I will always be candid and unfettered when it comes to his honesty.
I present only facts in the summaries, unless I clearly label something editorial comments. So that makes it easy for readers to differentiate between what happened and what I thought about it. :)
Sean, that guy that has worked under the table, has bad credit, doesn’t have a pot to piss in, and thinks he can purchase a “home” in California is a nut and obviously not that bright. He probably read an ad somewhere that said they $200,000 and thought it was 20K. If I were Bob I would have hung up on him because it was obviously a call not worth continuing. Jesse
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Jesse..Please click on the name link below the posting window and type your name in there so it will appear at the top of your comments.
I was thinking the same thing
Lots to address here.
Certainly, gotta respect Brinker's "effort" to differentiate between the alive shows vs. the re-hacked re-runs, i.e. "Taking your phone calls during THIS hour of Moneywalk."
What a great parsing of the premise. Seems like maybe he was dragged kicking and screaming into a more normal sensibility.
Or maybe he finally capitulated. Learned that word from him when he waxed poetic about the bull and bear market cycles during the early 2000's. He reallocated to cash, which was a good call.
In general, it's not easy for most 79-year old guys to adjust. And then when fake callers call in to try to "job" him (a Jersey term), it can get frustrating.
Probably, the long dead air was when Brinker called the "producer" on a private line to lambaste and embroil regarding the call screener not screening out the fake calls. Fully understandable.
Oh well, another Sunday evening spent on the dirt driveway fixing the Vega. Thank goodness for AM radio.
Thanks for the excellent summary. Every third hour is “Back to the Future.” I don’t know why the repitition. At least he didn’t bash our president.
Well we have a long running bull market & now a long running minor correction. I really don't think BB or anyone else has the ability to forcast a bear market or even a buy point. There I said it. Now we should get a buy signal.
I am so glad that I don't waste the time to listen for the entire 2-3 hours lolol, or whatever he is on. There was a time I did not miss a minute, but have not listened in years: so glad that you are continuing this blog.
News : Dow Jones
U.S. Inflation Hits Federal Reserve’s 2% Target in March
By my count, 10 third hour interviews since the beginning of 2018. Four of them were futurists.
Wall Street Journal has a section today on jobs that robots will create or expand.
AI Builders: programmers, software support, developers
.
Customer Robot Liaisons. Getting clients and employees comfortable with robots."
Robot Manager: A human who supervises and monitors robots. From the article, describing one manager's duties: "ensuring the robot guards don't lurk over a person's desk or go barreling through a crowd of people during shifts."
Data Labelers: Identifying objects to AI so it understands what it is seeing.
Drone Performance Artists: Customizing drones used in sporting events, theater, musicals, concerts.
AI Lab Scientists: Medical research. Identifying molecules that might become useful drugs.
Safety and Test Drivers: People who oversee self-driving cars and buses.
natasha lululu here
Say, about the prime money market at 1.8 percent at Vanguard. Their Fed Money Market is their settlement account, and is something like 1.6 percent. You want your money in the Fed Money Market if you might soon make a purchase, like an etf, and thing there is a POSSIBILITY that : If it were in the Prime MM and you made an ETF or stock purchase, you might FORGET to take that second step and immediately transfer into the FED MM.
I think my choice is to have it in the FED Money Market in case of that BUY SIGNAL, or in case I make my own decision to buy.
Anybody else have a similar MM strategy based on potential FORGETFULNESS?
Higher rate fund at VG has higher expense than other fund. About a wash for amount I have in my brokerage acct. IRA is in higher paying MM fund. I dont have any ETFs in IRA acct, just mutual funds
Natasha: Your question about forgetting to have enough in settlement funds is addressed under the section on "Late Sales" in:
https://investor.vanguard.com/investing/online-trading/trading-penalties
If you forgot to have enough in the settlement fund, I suspect that Vanguard would invade your Prime MM for the funds needed to settle and give you a warning message. Note that:
"Any 3 violations in a rolling 52-week period trigger a 90-day funds-on-hand restriction. During this time, you must have settled funds available before you can buy anything."
So even if you forgot twice in a year, you wouldn't actually be penalized, and the penalty is a minor restriction.
Of course, if you think you might buy at any time, I don't think it's a bad idea to park the funds in the settlement fund (which is what you would have to do if you somehow got restricted).
So funny! It's amazing how the host plays the dolt so well at times.
Keith from Idaho calls to ask if a Roth IRA using a "Spider fund" is a good road to follow for investing some pay from his military son's paycheck who's deployed to the Middle East.
The host gave a wordy poo-pooing of the other "money program" and refused to comment because "he didn't know what the semantics are" on the other show, even though every listener knew the caller was referring to the S&P500 index ETF, commonly called Spiders (S+P Depository Receipts--SPDRS).
The host finally recommended the TMI (Total Market Index) just like he always does, and not similar to fill-in host Bill Flanagan who always recommended the S&P500 index.
But wait, there's more. Another caller asked the host if he was ever in the military and then complimented him on his usage of some military jargon to which the host replied, "I've always been interested in the military alphabet".
LOL, so true, however he just recently got interested in the Phonetic Alphabet (its proper title) after years of butchering the innocent mnemonics with mutations such as "D-as-in-dog, D-as-in-David, B-as-in-Bob, Z-as-in-Xerox, F-as-in-Frank, G-as-in-Good Golly Miss Molly, and all the others.)
Gotta believe that a merciful family member finally attached the official P.A. list to his computer screen and restricted his access until he could pass the test to mate 26 letters with their internationally-recognized affiliations (especially in aviation). That's what they do in the military, according to the rumors.
It's pure entertainment, especially when he pauses to search his noggin for an allusion to accompany some odd letter like "L", but then all he can think of is "Larry Kudlow".
You can't make this stuff up.
BB expressed his opinion on Sunday’s show, that he expects the FOMC to raise rates in six weeks – on June 13. That would bring the overnight rate to 1.75% - 2.00%. I could be wrong, but I can’t remember the last time BB made a FOMC prediction six weeks out.
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Gewertz....I totally enjoyed your comments Brinker and Sunday's show. Thank you.
I don't have time to cover all of the calls and the entertaining nuances that Brinker provides, so it's so much fun when some of the blog readers do that.
Another caller that was very entertaining and may have been pulling Brinker's leg, was the man who called and said he was dirt poor, didn't have any money except $20K that he had gradually built up over years via some kind of credit card funny business.
He asked Brinker if he should buy a house in California with the $20K - but said he would not tell the name of the town he where he could get a house for that much down payment.
If Brinker knew he was being put on, he never gave it away. He congratulated the caller for having built up that nest egg from nothing.
The closest Da Brink ever got to the military was rushing down to the docks to see if he could help out any needy sailors when the Naval ships docked.
TFB
Gewertz: You're right about Bob Brinker being deliberately obtuse with the caller who mentioned "Spider funds." I think Bob has mentioned the SPY ETF (Spyders) a number of times on the show. Now, because another financial guy recommended it to the caller, Bob suddenly doesn't recognize the reference? Gimme a break.
Can Anyone shed light on what is causing Defense stocks (NOC HII) to nose dive? Did get this tidbit on NOC recently "company reported better-than-expected Q1 results, but set FY18 sales guidance below Wall Street's expectations". Lockheed and Gen Dy appear to be acting similarly.
AMEN BROTHER FRANK!
SN: At the risk of committing "pundrity" my guess is traders and the high frequency crowd are primed to punish ANY stock for the slightest infraction. Falling slightly short on earnings or failing to exceed expected earnings. It's long term average PE is 17.5. At the end of March its PE was 25.1 so it was overvalued compared to the average.
I had the same thing happen to a number of stocks that have solid records of earnings and solid balance sheets. There may be no logical rationalization.
Philip Morris (PM) is expanding into non-combustible smoking gadgets. Its stock got hammered recently because the sales did not increase -- despite the fact that they only account for 7% of overall sales. It created a buying opportunity for long-term holders of this company.
Defense stocks will take a hit if NK de-nuke.
Of course these stocks will rebound with the next calamity.
George Kelly
Modesto
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George Kelly...Please use the link just below the window that you write your comments in and type in your name there. That will make it show at the top of the page when your comment is published.
Otherwise, all I see is "Anonymous said" when I receive them for moderation. And if I happen to get them when I am getting spam or rude comments, I often don't even open anonymous comments.
smart decision by Fed to leave rates unchanged. No reason to hike rates, with real GDP stuck in the low to mid 2's.
I do expect QT to continue this should have the effect of steepening the yield curve.
no recession on horizon as long as the Fed does not overdue it on rate normalization.
Excerpts from a Real Clear Markets article by Joseph Calhoun: Bond Bears
A recent Forbes article cites the interest rate cycle from 1977-1980 when 10 yr Treasuries went from 6.88% to 11.13% with a duration of 9.1 for these bonds equated to a market value loss of nearly 40%.
The following are the total return of said bonds:
1977 1.29%
1978 -0.78
1979 0.67
1980 -2.99
What I took away is that bond mutual fund holders during that period has a flat rate of return and lagged stocks. However the account balance did not fall 40 percent as equity funds would have with the same stock decline. Interest payments almost kept up with the rising rates.
Off topic: By the power vested in me I declare Frankj guilty of punditry in the first
degree. Sentencing to follow, please surrender your passport to the local authorities.
I plead guilty to the charge of punditry and throw myself at the mercy of the court, pointing out that this is my first offense.
Does the Brinkmiester have any upside targets for the S&P?
Frankj you don't come across as a know it all. You come across as someone who's willing to share his thoughts. Well done.
News : Dow Jones
Stock Market Slumps As Fed Statement Signals Few Changes To Policy
What's driving markets?
Fed officials wrapped up a two-day meeting, saying they expect further interest rate hikes will be needed in coming months…. The market is pricing in a high probability that the next interest-rate increase will come next month.
In total, fed-funds futures, used by investors to wager on short-term rates, indicate that Wall Street is pricing in roughly even odds at the chance of three more rates hikes in 2018.
=====
As of today’s close, the S&P 500 is down from the January peak by (8.26%).
J Wales: Thank you, that is high praise.
You and others should know. There was an attempt on this blog to introduce a newsletter called BulbTimer. This was back when the federal gov't was going to pass legislation mandating the use of low energy light bulbs and phasing out the traditional incandescent light bulbs.
I was going to be the editor, Honeybee the publisher and our pal, birdbrain was the Chief Operating Officer. His assignment was to prowl the garage sales, flea markets and dollar stores in the Southwestern US in search of bargains and close outs in incandescent bulbs. Our plan was to accumulate a large stock of such bulbs and then sell them to the True Believers at exorbitant profits. You may find our first (and only) issue of BulbTimer by searching on this blog.
My only problem with birdbrain is that he does not weigh in often enough on the blog. Other than that, he has been a good and honorable COO. No cheating on expense accounts; no charges leveled against him. He did succeed in building up quite the stash of the old style bulbs and has them stored them in a rental locker outside of Yuma, AZ. We are "timing the market" with regard to making these available to sell to Joe Sixpack.
frankj et al: hilarious! Thanks for the chuckles.
@Jester - In the BB lingo: The Federal Reserve concluded its sleep-over pajama party with no change in the attire ...
Sounds like the government. Lets pay people to have a meeting & agree to do nothing.
I strongly recommend the documentary movie "All the Queen's Horses". It's about the Dixon Illinols comptoller and treasurer who stole 53 million from the city over 20 years. Amazing story I've been following since the fraud was diclosed. This amount was an all-time high, but it really makes you think how widespread it is at smaller levels. It's on all the pay streaming services.
Send me 6 of those bulbs, please. Can't get 'em at Target or Wally-world anymore. Just chaps my hide.
Interest rates seemed to have peaked.
The "professional" investors at Morningstar.com are all asleep at the wheel; they still believe that BB is live every week, and do not believe he has taped phone calls from months ago. I dont think I want to take investment advice from people who can not tell the difference between a live show and a taped one.
Buffet just gave his buy signal loading up more Apple
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ABC.... I see our friend, "Stinky" has tried to set the record straight at the Morningstar Brinker propaganda message board.
I'm not 100% convinced that the "professionals" there are "asleep at the wheel." I think that it is VERY LIKELY that they are there for the sole purpose of discrediting the facts reported on this blog about Brinker's time-off deception.
Here is the link to that Morningstar message board: Morningstar Brinker message board
Gotta love Stinky!
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It hasn't been very many years back that Bob Brinker was sounding the alarm about how we had to buy the majority of our oil from "countries that hate us."
My how things have changed in the past 1 1/2 years! This is the headline on Drudge right now:
USA TO BECOME WORLD'S TOP OIL EXPORTER...
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NOTE TO ALL:
Some of you think that Brinker may have had me blocked from Morningstar discussions. I think you may be right.
I have signed up and got confirmation that I am a registered member and it clearly says "Welcome Honeybee" at the top of the page.
But when I try to post a reply to that Brinker message board it will not let me in. I have created a handle that fits easily into their parameters, but it will not accept it and let me post.
Here is what I am seeing. Any suggestions?
Create a username that will display when you comment on posts and articles. Please use alphanumeric characters only.
Username: (I type in: Honeybee2018)
When I submit it, this keeps coming back in red:
Please choose a name that’s between six and fifteen characters long, starts with a letter, and contains only numbers and letters.
"USA TO BECOME WORLD'S TOP OIL EXPORTER"
If this is a good thing then why are oil prices climbing if we are less reliant on foreign oil?
I'm no expert on oil but maybe the answer is - We are still importing a ton of oil; also maybe exporting petroleum products is up cranking out products from refined tar sand and sour crude coming in from Canada.
The shale oil fracking recovery has been going gang buster for years not just the last 1.5 years.
164K jobs created in April - goldilocks not too hot not too soft just the way the market likes.
This observation probably won't improve your M* blockage status, but wow, some of the "rebuttal" posts are akin to Stepford Wife mentality. Very naïve and narrowly focused, as if by hypnosis.
Maybe the investment letter writer hired an amateur P.R. firm (family members) to patrol the forums and obfuscate the facts 5-times-over in order to dilute and wash them from the dirty laundry.
Seems like most of the submitters use handles that are bastardized versions of contributors over here, as if to send a message, as thinly vailed as it is. No points for originality.
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Donnie....Your description of the "Stepford Wife" is VERY apropos! It fits perfectly.
That "team" is so recognizable to me because I have watched them work in various places for over 15 years.
They have even targeted this blog, which explains why I have to make posting comments more of a pain than it would have to be otherwise.
I am sure I could write a very interesting book if I wanted to devote the time to it, but at this time, I don't. However, unless you actually see it, no one would believe it.
The difference for me is that I have so much saved to my own files that I can document everything I say happened. If I hadn't done that, all except my blogs would be gone - censored - zapped.
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Donnie...I just made another attempt to get a username and I am still being shut out. I also tried to do a "new post" and it would not allow it. All this in spite of the fact that it says "Welcome Honeybee" at the top of the page and gives a link to "my account" which I set up.
I can't find any way to contact anyone to ask about it.
I see that the old "Mark Hulbert" LIE about Brinker's QQQ trades is posted as fact by someone calling himself: "gaiuslives."
Brinker never accounted for that money officially in his model portfolios, even though he recommended using money directly from cash reserves he raised from the model portfolios. But it was certainly not sold a being off-the-books.
Here is the link that will show documentation of the QQQ trade. Would you or someone please post it on that thread and point out that "gauisuslives" is "MISTAKEN"?
November 23, 2012, Bob Brinker's "Extramarital" QQQ Affair
Try M* setup and future logins in with a different browser like puffin that hides your IP address. Free version at Google play if your phone is android.
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Note to Kilgore Trout:
Please provide documentation to prove ALL of your projections and resend.
Honeybee,
I'm not sure if you received my message yesterday, but here is something that "might" be causing a problem:
Message from Morningstar Login page:
Note to IE users: Morningstar.com does not support Internet Explorer browsers below IE 10. If you are using an earlier version of Internet Explorer, please upgrade to a supported browser, or sign in using Chrome, Firefox, or Safari. If IE 9 is your only available browser, click here.
To Honeybee and all:
For those of you who are having problems posting on the Morningstar Bob Brinker Forum I've found the solution. The first thing you must do as a new member is post a comment about one of the articles appearing on the Morningstar Home Page. Once that is done you will be allowed to post on the Bob Brinker Forum.
Look it up yourself. Those are the government own numbers.
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Kilgore Trout....You said all those numbers were Donald Trump's.
When you are going attribute anything to him, you are going to have to prove it or it will not get published here.
Discover bank now paying 2 pct on 12 mo CD. I received an offer in the mail today. I have a few cds in a ladder with them. May add another.
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Thanks to all of you that helped me figure out why I couldn't post comments at Morningstar.
I used a Chrome Browser and did as Jim suggested. It worked like a charm!
I made a post there. See if I catch any fish. :)
http://socialize.morningstar.com/NewSocialize/forums/p/383182/3928790.aspx#PageIndex=2
House Doc: Last week I bought -- among others -- a 9 month CD from Pinnacle National Bank that pays 2.05%.
I read it Honey -- great!
You publish nonsense here like FOX.
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Kilgore Trout...And I'm not interested in your left-wing stupidity. Take it elsewhere.
I will check it out, tks
Forgive me, but here's a late-inning compliment for Frankj's 3rd-hr summary. As always, there was much wit buried within the italicized comments. But don't worry, it's deeply appreciated.
As he noted, the combo of AI and doctors and insurance companies seems worse than mixing vinegar with oil. It infers a million possible outcomes.
Might be something like: The AI machine performs the surgery as the doc objects the whole way; The doc wields the knife as the AI red flags him the whole way; The insurance co.'s AI monitors the procedure and docks both a day's pay for taking too long; The patient almost perishes but the AI shrugs and employs a legal precedent, such that you can't sue an artificial entity. And of course...
Just to validate Frankj's milkman reference, as late as 1967 in a new suburb of Chicago near O'Hare airport we had an insulated milkman box just outside the back door to receive the hand-delivered glass bottles with ice chips still clinging from the milk truck.
Everyone knows that UPS guys hustle but imagine delivering heavy glass bottles to a hundred houses in order to bring home the food and shelter money for the wife and kids. Those guys must've been in shape.
Hank, thanks for your nice remarks. We moved from Baltimore to Pittsburgh in 1961. The milkman was Johnny-on-the-Spot, presenting my mother with a free quart of chocolate milk and getting us signed up for deliveries. Hustle.
Honey: Regarding M*: People are defending him for running re-runs when THE POINT IS -- as has been made here ad nauseam -- is that he NEVER announces it as such, allowing the listener to think it is live. Every other radio personality announces re-runs at the top and has done so for as long as I can remember.
THAT is the pertinent point as we know. The trickery continues, with his lackeys defending him without getting the point. Words matter, and this doesn't seem like rocket science to me, but apparently it is to some people.
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Bluce...They are really something aren't they?
The only reason you don't read much of that garbage here is because I just dump most of it where it belongs - in the bin for Brinker-liars.
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Oh and, Bluce....I'll go over there tomorrow and make another post.
FrankJ writes:
Pittsburgh in 1961.
The original Oyster house for a fish sandwich. So succulent, flakey fresh fish, impeccably coked with a thin breading on a bun with tartar. Everything balanced to bring the best out in the fish. So yummy...at least once a year I drive rather than fly to D.C. so I can pass through Pittsburgh and grab a fish sandwich at The Original Oyster House. The Boy and I have made the trip for a weekend to load up on fish sandwiches and hit the Dinosaur museum. Truly a beautiful city especially if you stay at the old Hilton (now a Wyndham- yuck) on Point Park. Too bad the 1901 tavern closed : ( That was also iconic.
Pittsburgh, a great American city, fully endorsed for family travel by tfb.
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