Monday, October 15, 2007

Gores prize,Turkey's war and earnings yes earnings

October 15th, 2007


Al Gore the man who brought you the internet is now a proud sponsor of climate change thru global warming, my bet is that in the long run he is as right about climate change as he was about discovering the internet, but hey there is lots of money to be made with carbon dispensations….

Oil prices surge on news that Turkey looking to invade Northern Iraq, one question what took you so long? As Oil continues to hover around $80 a barrel this seems to be propelling alternative energy stocks ever higher.

For the buy signal, Option traders are telling us the market has hit a short term peak. Being the contrarian I am I am always willing to bet against any commonly held notions. Another bullish signal is that retail investors continue to take money out of equity mutual funds. In the past there was no better predictor of market direction than mutual fund money flows. What can I say looks like a nice set up for some more upside in US equities?

Yes its earnings times once again and much has been made about changes in managements, mergers and acquisitions, my suggestion would be for many companies who are having a tuff time better to focus on customer service especially when sales are internet dependent, Technology is proven to not be a substitute for brains or service.

It seems earnings expectations have been greatly diminished, and traders wonder weather the FED’s Halloween meeting will offer a trick or a treat? The release of the September 18th minutes seem to suggest the FED was neither panicked nor oblivious contrary to popular belief.

So why buy US stocks, well from a global perspective the US continues to have higher earning predictability which usually garners a premium and lower volatility compared to other markets.

James J Foytlin


The Rascal said...

Al Gore never claimed to have invented the Internet.

In an interview on CNN in 1999, Gore, who was then the sitting vice president and a candidate to succeed Bill Clinton in the White House, said this by way of reviewing his record:

“During my service in the United States Congress, I took the initiative in creating the Internet. I took the initiative in moving forward a whole range of initiatives that have proven to be important to our country’s economic growth, environmental protection, improvements in our educational system.”

Notice that Gore took credit for leadership in Congress in creating the Internet. He never said he “invented” the Internet. Was his claim to such leadership legitimate? Well, here’s what Republican Newt Ginrich said about that:

“(I)n all fairness, Gore is the person who, in the Congress, most systematically worked to make sure that we got to an Internet, and the truth is—and I worked with him starting in 1978 when I got [to Congress], we were both part of a ‘futures group’—the fact is, in the Clinton administration, the world we had talked about in the ’80s began to actually happen.”

Way back in 1988, The Guardian, a British paper, reported this:

“American computing scientists are campaigning for the creation of a ’superhighway’ which would revolutionise data transmission. Legislation has already been laid before Congress by Senator Albert Gore of Tennessee, calling for government funds to help establish the new network, which scientists say they can have working within five years, at a cost of Dollars 400 million.”

Years later, when Gore was vice president, computer scientist Vinton Cerf, widely known as the Father of the Internet, had this to say:

“I think it is very fair to say that the Internet would not be where it is in the United States without the strong support given to it and related research areas by the vice president.”

History shows that Gore’s claim to leadership in congressional action regarding the Internet was ignored by the media and not distorted into a claim that he invented the Net until the Republican Party cooked up that falsehood a few days after the CNN interview.

pjblogger62 said...

You should read his exact quote not what other people say he said, its even worse than you think!
It was a dumb thing for him to imply and it was heavily promoted by the main stream media .


Anonymous said...

Give Al Gore credit. Geez, it's bad enough you are in some sort of warped, neo-con Bush-ian denial of global warming. You can at least acknowledge that Al Gore was a visionary with regard to the internet and helped make it a reality.