Sunday Reads May 28, 2017

  • a sizable group of indicators, and a short summary:  “The nowcast for the economy remains positive, as does the near term view, with both stocks and jobless claims leading the way.  The longer term forecast remains neutral to positive, shading a little closer to neutral based on the tightening yield curve, less robust growth in real money supply, and the miss in corporate profits.”  Source
  • Two things here (Factset):  a) Europe growing and b) positive forecasts coming out of S&P Q1 earnings.  One can rationalize pollitically and economically why growth is moving away from US.  Aggregate indicators like this can be misinterpreted and misused … i see these like tail / head winds that need to be considered when looking at specific companies.  The industry data sets are important, however.   Source
  • Jeff Miller’s posted weekly snapshot 
  • A great overview of BMO, my fourth largest stock holding with cost basis of $53.19 / 5.19% yield – 
  • Not sure i agree w/ this perspective on Convertibles, but was worth the internal dialogue.  Source – i looked at ETF, ICVT, for a quick reference:  low yield, low analyst ratings, and a steep positive price slope (where’s the value?).
  • A good fist-full of data –

Will come back w/ a post on last week’s catching falling knives.

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