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February 26. 2018

Update:  We were finally filled on the KCAPL order.  Sometimes patience pays out.

MOVIES:  Annihilation. If you need a sleeping pill then head for this disaster.  Probably one of the worst movies you will ever see.  Who finances this crap.  Do they really expect to make a profit.


WE do NOT anticipate significant increases in interest rates. We continue holding the numerous bond holdings in the Core Portfolio:  but watching closely.

While I’m not recommending to fight the trend, I believe investors should be aware of whether they’re trading like the “dumb money” (or “the crowd”) or “smart money.” Right now, “the crowd” believes that much higher rates are inevitable because they’re ignoring the fact that our economic recovery is not as healthy as it seems and that stocks are incredibly overvalued. “The crowd” will soon experience a rude awakening that this economic boom is not what it appears to be, which will likely cause them to seek the relative safety of Treasuries once again.



Will one of Trump’s so-called smart advisors tell him to STOP talking about his F___G military parade.  This is America, not Russia with Stalin standing on the podium or Germany.  Eeeegads.  Why are we spending money on such a folly.


The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 50% of Likely U.S. Voters approve of President Trump’s job performance. Forty-nine percent (49%) disapprove.
This is the president’s highest job approval rating since mid-June of last year. President Obama earned 45% approval on this date in the second year of his presidency.


The riches go to the top 1%.  Are you shocked?

Not surprisingly, our guess that corporations would utilize the benefits of “tax cuts” to boost bottom line earnings rather than increase wages has turned out to be true. As noted by Axios, in just the first two months of this year companies have already announced over $173 BILLION in stock buybacks. This is “financial engineering gone mad” and something RIA analyst, Jesse Colombo, noted yesterday:
“How have U.S. corporations been deploying their new influx of capital? Unlike in prior cycles – when corporations favored long-term business investments and expansions – corporations have largely focused on juicing their stock prices via share buybacks, dividends, and mergers & acquisitions. While this pleases shareholders and boosts executive compensation, this short-term approach is detrimental to the long-term success of American corporations. The chart below shows the surge in share buybacks and dividends paid, which is a direct byproduct of the current artificially low interest rate environment. Even more alarming is the fact that share buybacks are expected to exceed $1 trillion this year, which would blow all prior records out of the water. The passing of President Donald Trump’s tax reform plan was the primary catalyst that encouraged corporations to dramatically ramp up their share buyback plans.”


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