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in Barron's
by
Andrew Bary, 12 May 2008
When Warren Buffett eventually ends his 43-year run at Berkshire Hathaway, his successor will have quite a tough act to follow -- the company's stock is up 24 percent from last year despite the current economic turmoil. In this thorough piece, Bary points to MidAmerican Energy CEO David Sokol and Berkshire reinsurance division head Ajit Jain as the most likely successors. So enormous are Buffett's shoes to fill that he plans to split his job in two, with one CEO and one chief investment officer. Bary provides a head-to-head comparison of Sokol and Jain, noting that the former looks to be the more logical candidate, while the latter has said that he isn't interested in Buffett's job.
Posted 11:40, 7 May 2008
This abstract was written by
Brian Willett
and edited by Brijit.
in Barron's
by
Alan Abelson, 5 May 2008
After a particularly labored opening contrasting the dithering 2008 candidates with the impulsive White House incumbent, Abelson turns his attention to the latest labor statistics. Officially April saw just 20,000 job losses, with the unemployment rate actually falling a shade. In reality that's down to the "birth/death adjustment," a statistical trick designed to account for newly created firms not included in the figures. This month's adjustment, which includes the ridiculous assumption that 8,000 new posts appeared in the finance industry, hides the fact that genuine job losses in April almost totaled 300,000. Though unnecessarily long, this is an informative article that goes beyond the headline figures.
Posted 11:31, 7 May 2008
This abstract was written by
John Lister
and edited by Brijit.
in Barron's
by
George Frey, 5 May 2008
Despite the food crisis, Nestle is thriving with stocks nearly double their 2005 value and forecasts of a further 20 percent rise this year. As well as cultivating brand loyalty that allows them to pass on grain price rises to consumers, new CEO Paul Bulcke is aiming to develop more premium brands and to improve nutritional content across the group's range. But the packaged food market is extremely fragmented -- Nestle's $100 billion revenue represents just a 2 percent market share -- so mergers and takeovers are always unpredictable. Frey tackles most aspects of the company and industry well, though it's a surprise he doesn't mention the longstanding Nestle boycott movement.
Posted 11:20, 7 May 2008
This abstract was written by
John Lister
and edited by Brijit.
in Barron's
by
Andrew Bary, 21 April 2008
Bary offers some good news for "yield-hungry individual investors," noting that the poor performance of stocks and money-market mutual funds has opened the door for attractive yields in junk bonds, convertible securities, and mortgage-backed debt. Currently yielding an average of more than 10 percent, Bary sees the potential for junk debt to "generate 15 percent-plus returns in the next 12 months if the economy bottoms later in 2008." Such statistics make the relatively safe Treasury market somewhat unattractive due to its much lower yields. This thorough, incredibly insightful feature offers several suggestions, and also offers plenty of information for those who want to make their own decisions.
Posted 4:09, 23 April 2008
This abstract was written by
Brian Willett
and edited by Brijit.
Despite the fact that 78 percent of global money managers surveyed by Merrill Lynch "see a dreaded combination of slow growth and high inflation" in the coming months, Tan presciently notes that some stocks are doing better than expected, such as Coca-Cola, IBM, and Google. In all, 57 percent of the nearly 200 companies reporting earnings Friday morning performed better than expected, lifting the Dow Jones to 12,849, its highest close since January 10. The S&P 500 is also inching ever closer to its February 1 high of 1395, and Tan optimistically predicts that "breaching this threshold could encourage more buying."
Posted 3:59, 23 April 2008
This abstract was written by
Brian Willett
and edited by Brijit.
in Barron's
by
Lawrence C. Strauss, 21 April 2008
Steve Tananbaum, head of the $14 billion GoldenTree Asset Management, says the troubled credit market of today presents a fantastic buying opportunity -- for those with the money to spend. He thinks the key is to find firms that are self-sustaining and to make sure you are at the front of the investor line for payouts if things go wrong. While housing-related debt is still too risky, utility-related bank loans are worth a look, while the increased advertising budgets in this election year make television company stocks attractive. Most of Tananbaum's comments sound like common sense, but sometimes that's what makes experts successful.
Posted 3:47, 23 April 2008
This abstract was written by
John Lister
and edited by Brijit.
in Barron's
by
R. Randall Padfield, 21 April 2008
Compared to Boeing 747s, regional jets are tiny -- and business jets like the six-passenger Cessna Citation CJ3 are even tinier. But with multi-million dollar price-tags and a sizable customer base, this is no small business for aircraft manufacturers. Padfield reviews six models from Cessna, Bombardier, Dassault, Gulfstream, and Hawker Beechcraft; cabin size, wing spread, weight, engine design, and fuel economy impact not only the customers’ comfort (cabin amenities) and convenience (flying range), but their wallets (purchase price, operating costs). While no single aircraft perfectly optimizes these factors, Padfield’s selections, ranging from small personal jets to very large “bizliners,” offer compelling compromises.
Posted 3:07, 23 April 2008
This abstract was written by
JL Roberts
and edited by Brijit.
in Barron's
by
Jim McTague, 21 April 2008
After Barack Obama had trimmed Hillary Clinton's lead in Pennsylvania, his gaffe referencing bitter Pennsylvanians clinging to guns and religion has cost him any chance of victory there. Assessing two crucial Democratic towns in the potentially race-changing state via his own mini-polls, McTague reports Clinton has a stranglehold on Scranton/Wilkes-Barre, where voters ceaselessly remind the journalist that Clinton's family is from the area. Voters also long for a return to the prosperity of the Clinton presidency. Meanwhile, Obama has a smaller edge in Bethlehem. McTague's polling mostly uncovers the same identity politics rampant during this campaign, but the small sample utilized in this article offers little perspective.
Posted 2:23, 23 April 2008
This abstract was written by
Jonathan Pinoli
and edited by Brijit.
in Barron's
by
Michael Santoli, 21 April 2008
Santoli smartly notes that, although the S&P 500 is down, it could be down a lot more, especially when it rallied last week when corporate news was "mostly lousy, but not as lousy as feared." Santoli says equity investors could be in denial or the bear market could be fluctuating normally, but he argues the S&P's components have insulated it from the overvaluation of the bull market. Although the financial market is shrinking, the nonfinancial sectors have been shrunk already through stock buybacks and leveraged buyouts. Santoli also speculates the credit market deflated before stock values became too inflated, cushioning the current fall.
Posted 11:15, 23 April 2008
This abstract was written by
Bryan Fagan
and edited by Brijit.
in Barron's
by
Alan Abelson, 21 April 2008
Abelson's column discusses former General Electric chairman Jack Welch's dissatisfaction with his successor, current CEO Jeff Immelt. Abelson, however, claims that the real reason for Welch's ire is the fact that he's no longer in the limelight and was taking potshots at Immelt in order to preserve his status as a legend in business management. Welch aside, though, the bulk of Abelson's column is about the recent stock market rally; while calling himself a contrarian, Abelson offers a cold shot of reality, noting somewhat persuasively that rallies often occur within bear markets.
Posted 10:31, 23 April 2008
This abstract was written by
Elliot Feldman
and edited by Brijit.