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@theMarket: Bumps in the Road
Bill Schmick,
08:42AM / Saturday, May 28, 2011

Investors are worried. They are worried that the end of QE II will spell disaster. They are worried that European bank woes will spill over onto our shores. They are worried that the economy is stalling and inflation is trending higher. Yet, with all these worries, the markets have held their own over the last few weeks.

I'm not going to dismiss these concerns, although we need to remember that markets often climb a wall of worry. Admittedly, there have been so many downgrades of sovereign debt lately that it's hard to keep track. The PIGS (Portugal, Ireland, Greece, and Spain) have had to make room this week for Japan. That island nation joined the ranks of downgrades in large part due


The Independent Investor: Gordon Gekko Should Run for Congress
Bill Schmick,
01:39AM / Saturday, May 28, 2011

Did you know that congressmen and senators consistently outperform the stock market year after year? On average, the lower house members beat the market by about 6 percent a year while those of the higher chamber wrack up a 10 percent level of outperformance annually. Now, if you believe that's purely coincidental, well, I have a bridge I can sell you cheap.

Don't take my word for it. Four university researchers from four different schools poured over 16,000 stock buys and sells of 300 congressmen over a 16-year period and found "significant positive abnormal returns." Five years ago, the same team uncovered even better results when investigating the personal stock transactions


@theMarket: Markets Tread Water
Bill Schmick,
09:12AM / Saturday, May 21, 2011

Volume was thin, volatility high, and despite all the excitement over the LinkedIn IPO, the averages finished little changed from the levels of last week. This is a market that requires patience and fortitude.

By now, you probably have had your fill of LinkedIn stories. For those who haven't caught up, all you need to know is that the professional networking company went public on Thursday at $45 a share and proceeded to more than double by the end of the day. It now has a valuation greater than one-third of the companies that make up the S&P 500 Index, making billionaires of its founder and many of its staff.

A few analysts expect LinkedIn's IPO to be just a taste of things to


The Independent Investor: Ole Man River Bolsters Agriculture Investment Case
Bill Schmick,
05:08PM / Friday, May 20, 2011

The flooding of the Mississippi River will be the worst disaster in the Delta farming region's history since1927. Millions of fertile acres in Missouri, Tennessee, Louisiana, Mississippi and Arkansas are under water. Farms along that riverbank could take a $2 billion hit, but to us it simply underscores our argument that agriculture is a long term growth area.

Understand that my heart goes out to those who are suffering from this misfortune. Cotton, wheat, corn, soybeans, rice and even catfish won't be raised or planted this season, forcing many Americans out of work. It also will add even more pressure to sky high agricultural prices. Readers may recall my January column "Stock up


The Independent Investor: A Windfall in Disguise?
Bill Schmick,
04:54PM / Thursday, May 12, 2011

It started last week with a 25 percent plunge in silver prices. Gold, oil, corn, and coffee followed in sympathy, and by the end of the week it was a full-scale route across the commodity spectrum. These price declines will save corporations and consumers untold trillions of dollars. So why isn't the stock market celebrating?

The power and abruptness of the decline caught the majority of investors unaware. After all, commodity stocks have led the market for well over a year. Stock investors were piggy-backing on what was happening over in the commodity pits. Up until last week, commodity speculators were minting money. They were able to borrow short-term money for practically nothing

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