Salient to Investors: Bespoke Investment Group study going back to 1928 shows the S&P 500 Index has returned an average 0.12 percent in September when up year-to-date through August – the index is up 12 percent so far in 2012 Bob Janjuah at Nomura Holdings predicts a major risk-off phase in the coming four months with
READ MORE... →Salient to Investors: Koji Toda at Resona Bank said money that risk money that fled Europe’s debt crisis is gradually returning to places where there is policy optimism. Tim Leung at IG Investment said China’s economic momentum is slowing – the market expects the Chinese government to help accelerate the economy. Richard Fisher at Federal Reserve Bank
READ MORE... →Salient to Investors: The value of transactions in S&P 500 Index ETFs is about to exceed the turnover for all of the index stocks for the first time. Bears claim the increase in ETFs shows investors are giving up on picking stocks; bulls claim it shows that individuals and institutions still want to own equities
READ MORE... →Salient to Investors: Longest weekly DJIA rally since October, led by tech. Mark Freeman at Westwood Holdings says the market gets disappointed when it falls into the trap of not getting what it expects from the central banks – the fundamentals are what matters and they are doing OK. James McDonald at Northern Trust
READ MORE... →Salient to Investors: Louis Navellier says: Bill Gross couldn’t be more wrong in predicting lower future equity returns and that equities cannot return more than U.S. GDP growth because the stock market is much more attuned to earnings than to U.S. GDP growth. Nearly half of the S&P 500’s revenues are generated globally versus 30 percent 10
READ MORE... →Salient to Investors: Jeffrey Hirsch at Stock Trader’s Almanac writes: Presidential elections have a profound impact on the economy and the stock market. The last two years of the 44 administrations since 1833 produced a total net market gain of 724 percent versus the 273.1 percent gain of the first two years. Presidents
READ MORE... →Salient to Investors: Christopher Orndorff at Western Asset Management said Europe’s deal is a step in the right direction from a longer term perspective. July has been the best month for the Dow Industrials over the last century with an average return of 1.4 percent, and an average 0.8 percent over
READ MORE... →Salient to Investors: Mark Mahaney at Citigroup said super-high multiples and decelerating growth don’t mix well. Read the full article at http://www.bloomberg.com/news/2012-06-27/facebook-analysts-see-shares-climbing-10-cents-above-ipo-price.html
READ MORE... →Salient to Investors: Total loans at the four largest U.S. banks fell 4.9 percent in Q1 versus an increased of 9.8 percent for the 17 smallest of the 24 firms in the KBW Bank Index. David Trone at JMP Securities said the big banks’ shrinking loans has earnings implications, because the removed loans,
READ MORE... →Salient to Investors: Hank Smith at Haverford Trust sees the market bouncing along the bottom. Laura Martin at Needham said academic research shows that the greater the diversity on a corporation’s board, the higher the returns to shareholders. Sam Stovall at S&P said the lack of direction is understandable given investors await the outcome of the
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