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Author Archive for Tony Crowell

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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 […]

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Taking Stock

Taking Stock

It’s Almost Over Hurricane Sandy forced the stock market into a rare two-day shutdown. This was the first two-day weather closure since the Blizzard of 1888 that brought 40 inches of snow to the Northeast. After 9/11, the markets closed for four days. There have been other closures, sometimes for happier events, particularly to celebrate […]

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Taking Stock

Taking Stock

Election Jitters The market stumbled recently amid uncertainties about third quarter earnings and the imminent election. Down 2% in October, it’s still up over 12% for the year. Momentum should carry to higher returns once the election is past us and we approach yearend. In most election years, by this time the probable winner has […]

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Taking Stock

Taking Stock

Stocks are going through a “correction,” normal behavior after a satisfying advance so far this year. Investors remain quite sensitive to company events and the forthcoming round of quarterly earnings reports will be critically judged. Last quarter’s reports produced some disappointments. These prompted analysts into downward revisions on many stocks for this quarter and all […]

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Taking Stock

Taking Stock

Buying Low And Selling High Is Hard To Do When asked what the stock market was going to do, J. P. Morgan said, “It will fluctuate.” I believe this to be an unsurpassed prediction of market behavior. Many investors resist this truism and allow normal stock ups and downs to scare them into bonds or […]

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Taking Stock

Taking Stock

Quarter’s End As we near the end of the third quarter, stocks are up 6% for the quarter and 15% for the first nine months of the year. These returns are of the S&P 500 stock index, which is running a bit ahead of the popular Dow Jones Industrials Average. The S&P includes Apple and […]

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Taking Stock

Taking Stock

Walking A Tightrope Stocks continue to walk a tightrope above the perils of some country fleeing the Euro Zone or of this country falling off the dreaded “fiscal cliff.” Our political campaign exacerbates these dangers yet the stock market keeps on rolling. As we move into fall, the averages are all holding above their psychologically […]

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Taking Stock

Taking Stock

Summer’s End Investors had a good summer in the stock market. As we approach the end of August, Federal Reserve Chairman Bernanke is expected to indicate whether the economy needs another shot of bond buying by the Fed or if the recovery has strengthened sufficiently to forego this assistance. Recent stock market advances indicate that […]