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A politician would be silly not to do opposition research. A baseball team would be goofy not to use scouting reports. By the same token, an investment manager would have to be singularly incurious not to check out what other managers are buying and selling. Once a year in this
If you’re going to steal, steal from the best,” Woody Allen once said. Once a year, I try to do that. My annual Purloined Portfolio features ideas I lift from other money managers. My Purloined Portfolio from last year returned 45.9%, thanks mostly to gains in Alphabet Inc. (GOOGL, idea
sentiment index rose to 79.2 this month. that's the highest level in four months. those surveyed said they are upbeat about their personal finances, and most believe the unemployment will not rise further. also today, the commerce department reported retail sales jumped 0.9% in august. that's the largest increase since february. the gains come as consumers are spending more on cars and gasoline. the report showed that sales at different retailers were mixed and suggested only a modest increase in consumer spending this quarter. today's news comes just a day after the federal reserve ...
that's according to fresh data out today. they're feeling hopeful about their economic and job prospects. a new survey from thomson- reuters and the university of michigan shows the consumer sentiment index rose to 79.2 this month. that's the highest level in four months. those surveyed said they are upbeat about their personal finances, and most believe the unemployment will not rise further. also today, the commerce department reported retail sales jumped 0.9% in august. that's the largest increase since february. the gains come as consumers are spending more on cars and gasoline. ...
took this action because, without it, economic growth might not be strong enough to create jobs. but the fed's latest round of quantitative easing, what everyone calls q.e.-3, is different this time. the fed will buy mortgage backed securities rather than u.s. treasuries. it will buy $40 billion per month. more importantly, the fed said the buying is open-ended-- it promised to keep buying until the job market "improves substantially." and the fed pledged to keep interest rates "exceptionally low" through 2015. stocks rallied right after the fed announcement. the dow jumped 206 point...