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Tag Archives: Wall Street Journal

Powell Keeps The Bond Bull Kicking

In a widely expected outcome, the Federal Reserve announced no change to the Fed funds rate but did leave open the possibility of a rate hike next year. Also, they committed to stopping “Quantitative Tightening (or Q.T.)” by the end of September.  The key language from yesterday’s announcement was: “Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in...

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Stock Buybacks Aren’t Bad, Just Misused & Abused

There has been a lot of commentary as of late regarding the issue of corporate share repurchases. Even Washington D.C. has chimed into the rhetoric as of late discussing potential bills to limit or eliminate these repurchases. It is an interesting discussion because most people don’t remember that share repurchases were banned for decades prior to President Reagan in 1982.  Even after the ban was lifted, share repurchases were few and far between as during the “roaring bull market of the...

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Cliff Asness On Buybacks – Boosting Returns or Liquidating Companies?

Asset manager Cliff Asness recently wrote an op-ed piece in the Wall Street Journal wondering if those who decried companies buying back their stock didn’t suffer from “buyback derangement syndrome.” Asness allowed that net investment, normalized by total assets or total market capitalization, was recently lower for companies in the Russell 3000 Index than it was in the 1990s, “but positive and much higher than during the 2008 financial crisis.” It seems strange to crow that investment is...

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That’s Some ‘Sweet Spot’

December 2014 was something of a high-water mark. Early on in that month, the BLS had published payroll numbers (Establishment Survey) that to many confirmed the narrative. For the previous month, November, the US economy purportedly added a massive 321k new jobs. The media was predictably uncontrolled in its glee. Any survey of mainstream headlines for that particular report contains all the usual glowing buzzwords. “Strong”; “robust”; the “best in decades.” For the Wall Street Journal in...

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One-Third Of The 2016 Spike In U.S. Homicides Came From Just 5 Chicago Neighborhoods

Authored by Thomas Lifson of American Thinker, The full evil of the anti-cop hysteria pushed by left wing groups like #BlackLivesMatter will take many years to be understood, in no small part because of political and media support for the notion that racism on the part of cops is the sole cause for disproportionate numbers of black perpetrators in our crime statistics. But every now and then, a statistic appears that cannot be easily dismissed. Jared Sichel of The Daily Signal brings one such...

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Pair Of Bush-Era Economists Emerge As Front-Runners For Fed Vice Chair Position

After selecting Fed governor Jerome Powell to replace Janet Yellen as Fed Chair when her term expires in February, the Trump White House has now moved on to interviewing a series of candidates for the Vice Chair position.  As the Wall Street Journal notes this morning, two of the more likely candidates for that role are a pair of economists who served in senior positions in the George W. Bush administration. The pair being considered by Trump consists of Richard Clarida, a managing...

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The Media’s Reign Of Error Exposed

Authored by Mark Hemingway via WeeklyStandard.com, Covering the Trump presidency has not always been the media’s finest hour, but even grading on that curve, the month of December has brought astonishing screwups. Professor and venerable political observer Walter Russell Mead tweeted on December 8, “I remember Watergate pretty well, and I don’t remember anything like this level of journalistic carelessness back then. The constant stream of ‘bombshells’ that...

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CSX CEO Hunter Harrison Dead, Days After Medical Leave

Just two days after taking medical leave from his role as CEO of CSX, the company has confirmed 73-year-old Hunter Harrison has passed away. Hunter Harrison, CEO of rail company CSX, has passed away, the company confirmed in a statement Saturday. "It is with great sadness that we announce that E. Hunter Harrison, President and Chief Executive Officer of CSX, died today in Wellington, Fla., due to unexpectedly severe complications from a recent illness," the company said. Harrison...

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Proctor & Gamble Concedes Proxy Fight, Names Nelson Peltz To Board

Two months after narrowly losing a proxy vote that would have granted him a seat on Proctor & Gamble’s board, Trian’s Nelson Peltz has somehow managed to win a crucial battle in the largest and most expensive corporate proxy battle in modern history. To wit, the consumer-products giant announced Friday that it would add Peltz to its board, according to the Wall Street Journal. The company said it would add Peltz to the board beginning March 1. P&G’s stock, which has...

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Wall Street Journal: “Steve Bannon Is For Losers”

Most of the mainstream media seems to be under the impression this morning that Roy Moore lost the Alabama Senate because he identified as a conservative, or because he was backed by Bannon or because Albamians suddenly decided to reject "Trumpism."  The irony here, of course, is that the one thing they DON'T seem to be interested in attributing Moore's loss to is his past relationships with underage girls...which is the only thing they DID want to talk about up until this morning....

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