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Author Archive for Tony Crowell

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Taking Stock

Taking Stock

There Ought To Be Clowns Congress confronts another budget crisis of its own creation, yet the major stock market averages are flirting with five-year highs. It may be that previous partisan political games of fiscal “chicken” have hardened investors against overreacting to the latest dysfunctional actions by Congress. After all, panics over prior publicized fiscal […]

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Taking Stock

Taking Stock

The Shell Game And The Shale Game Stocks face two obstacles, both stemming from Washington. The first is the pending forced array of arbitrary spending cuts labeled “sequestration.” The other stems from concerns of an earlier-than-expected end to the Federal Reserve’s program of buying bonds. Much of the economic recovery is attributed to the low […]

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Taking Stock

Taking Stock

Crack On More Sail Like a sound ship in moderate seas, the stock market is maintaining a steady course and speed. Sailors know that even calm waters demand vigilance even while permitting cracking on more sail. This year, the market is up more than 5%, a better performance than all of 2011. Since the beginning […]

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Taking Stock

Taking Stock

Forevers Are Not Just For Valentines Moving toward the midpoint of the first quarter, stocks continue to hold their course. With more days up than down and volume increasing on the up days, the market uptrend remains intact.  Most corporate earnings reports forecast continuing slow growth and the Federal Reserve has maintained its very supportive […]

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Taking Stock

Taking Stock

Still Optimistic Stocks began the year as if shot from a cannon with their biggest rise in six months. This was partly a rally after of relief after Congress stumbled into a last minute tax compromise bill, even if its slipshod passage cured only the most immediate uncertainties. We still face more hurdles with raising […]

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Taking Stock

Taking Stock

A Good Beginning The World Bank’s new Global Economic Prospects report predicts growth picking up around the world. There are risks, particularly the slow progress in solving Europe’s debt crisis and this country’s persisting fiscal uncertainties, but the report concludes that the probabilities of major downside risks have diminished and the probabilities have increased of […]

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Taking Stock

Taking Stock

Another Good Year? With the New Year’s Day quarrels over the “fiscal cliff” only briefly behind us, the renewed debates on the debt ceiling lie just ahead. The ship of state dodged this iceberg in August of 2011 when partisan deadlock brought the federal government to the brink of a totally needless default on its […]

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Taking Stock

Taking Stock

It Could Have Been Worse Stocks began the year as if shot from a cannon with their biggest rise in six months. This was partly a rally after of relief after Congress stumbled into a last minute tax compromise bill, even if its slipshod passage cured only the most immediate uncertainties. We still face more […]

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Taking Stock

Taking Stock

It Was a Good Year Heading toward 2013, stocks can look back to a decent performance in 2012. Despite still unresolved issues on how to rein in scheduled tax increases and spending cuts, the stock market is ahead 13% this year on the S&P 500 index. The market was flat for 2011 although it accelerated […]

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Taking Stock

Taking Stock

An Investor’s Shopping List Stocks continue to push ahead like shoppers with buying on their minds. They market has erased its post-election fainting spell, is even for this quarter and up 15% this year. This resilience is with us despite the daily headlines of unsuccessful negotiations on the tax increases and spending cuts due to […]

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Taking Stock

Taking Stock

Hiking On The Edge Of The Cliff The headlines are alive with the sound of media flacks warning that the “fiscal cliff” will soon plunge us into chaos. Meanwhile, the stock market, like Old Man River, must know something as it keeps on rolling along. Stocks seem to have anticipated the probable outcome of current […]

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Taking Stock

Taking Stock

Increasing Income Wins Popularity Contests With three weeks to go, the stock market is up 12% for 2012. Financial media are counting down to the “fiscal crisis” as if the New Year were to be greeted with a nuclear explosion. The fiscal issues are serious but resolvable and investors have not (yet) let daily headlines […]

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Taking Stock

Taking Stock

The Reality And The Noise After stumbling earlier this fall, the stock market resumed its uptrend. The aftermath of the elections spurred rumors that stocks were entering a bear market and the economy a recession. These were exaggerated as stocks are now down only 2% this quarter, well within the range of normal fluctuations, while […]

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Taking Stock

Taking Stock

The Cliffhanger The “fiscal cliff” quickly replaced the Presidential election as the prime worry of Wall Street and its media slaves. Those who attribute recent market weakness to the reelection of the President might consider market history. The 2.4% loss in the Dow Jones Industrial Average this Election Day was the fifth worst since 1900. […]

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Taking Stock

Taking Stock

What Now? The presidential election is finally behind us, removing an overhanging major uncertainty. As this column goes to press, Florida has still not managed to declare who won there. A shift of only a relatively few votes in other states could have left us at this point in the same limbo as in 2000 […]