Vol.2 Issue 10 October 1st, 2005
Send comments and
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of the Month:
in the aggregate, I do not think there is a calamity on the
horizon. Individuals are vulnerable if they are borrowing too
much. Individuals who have more net worth and more diversified
portfolios can be less concerned."
R. Barth, PH.D.
Senior Finance Fellow, Milken Institute
the Housing Boom Over? Have Interest Rates Bottomed?
by Bill Staton, MBA, CFA.
the Mutual Fund Salesman Forgot to Mention. By Paul
Woods, President & CEO of Odyssey Advisors, LLC.
Your Job, Not Your 401(k) By Maya Patel. Discount
Brokerages Make Rollover IRAs Easy.
NYC Hotel For Executives: Le Parker Meridien and
Norma's Restaurant (for the 2nd Year in a Row) By Natalie
Wynne Pace, CEO, NataliePace.com.
Traders Signal Decline in Interest Rates (Down the Road).
Investment Outlook by Kelley Wright, Managing Editor,
#1-ranked Investment Quality Trends Newsletter.
Tip: Be Sure You're Charging Enough Money! By Chellie
CEO (Chief Everything Officer). 6 Secrets of Wealthy,
Over Tasked Women. by Natalie Pace.
Corp. Takes on Cyber Space With Acquisition of Myspace.com.
By Natalie W. Pace, CEO and founder, NataliePace.com.
Article and stock report card..
America. Americans are now spending more than they
are earning, and personal savings is a negative number.
Is that a temporary dip or are we courting disaster?
Q&A with James R. Barth, PH.D., Senior Finance Fellow,
Trick or Treat? Will Ghouls and Goblins Haunt the
Street or Will Bewitching October Be Sweet? By Natalie
Pace, top-ranked stock picker, per TipsTraders.com.
Katrina: Rebuilding Lives For the Homeless.
Don't Miss NataliePace.com's online chat with Paul Woods,
a gala with Hillary Rodham Clinton and the California
State of the State Conference. Go to NataliePace.com frequently
to check out what's new.
the Housing Boom Over?
Bill Staton, MBA, CFA
Tunstall Staton, MBA and Bill Staton, MBA, CFA Photo credit:
some sort of bubble / mania / craziness / irrational exuberance
seems obvious in housing markets across the U.S., and people of
all stripes seem to be becoming real-estate barons practically
overnight with no previous experience, if this is THE actual peak,
it probably represents the first time (at least in the last 100
years) when THE peak is talked about and written about almost
The peak of
the U.S. stock market in late 1999/early 2000 was only obvious
to a few keen observers such as us. Few were warning about a bubble
then, but that is certainly not true of real estate today in this
country, especially housing prices. It is possible that all these
disparate observers have picked the top, but based on our knowledge
of economic and market history (which we believe is extensive),
that's extraordinarily unlikely.
thinking runs in the same path about interest rates. For close
to two years, we (and almost every economist, money manager, financial
writer we know of) have been thinking interest rates are going
to rise. That remains true now for them, but we have major doubts
that rates are going to rise anytime soon. In fact, there's an
excellent chance they'll go lower still.
suggests, "Think the unthinkable: America's long-term bond yields
may be heading down, not up." HSBC's chief economist foresees
(assuming anyone can do that) the yield on 10-year Treasuries
dropping at least another half point sometime next year. Stephen
Roach of Morgan Stanley, a reformed bond bear, agrees. Fed Reserve
Board chairman Alan Greenspan has suggested, in his own obtuse
way, that long-term yields might remain low for a surprising amount
of time, even assuming the economy continues to grow.
The July 11,
Barron's interviewed three "consensus-bucking seers" who say,
"The great bond bull market, which started in 1981 with yields
at record levels, isn't over yet." The trio asserts that the fall
in long-term bond rates "reflects sea changes in U.S. and global
economic dynamics that could persist for years". For numerous
reasons they opine that an integrated global market such as today's
existed from 1871 to 1949 "when long-term Treasury bond rates
averaged 2.8% [vs. about 4.5% today]; annual inflation, 0.7%".
The more we
think about it and examine the evidence with a jeweler's eye,
the more we're coming to believe they're on the money.
MBA, CFA, America's Money Coach ®, is chairman of Staton Financial
Advisors LLC (a money management firm serving high-net-worth individuals
and small businesses whose clients have never had a down year).
Bloomberg magazine recently named Staton Financial one of America's
"Top Wealth Managers". He leads Lifetime Riches seminars, is a
professional speaker, and offers FREE trial issues of Bill and
Mary Staton's E-Money Digest / Guided Portfolio Service at http://www.billstaton.com/ezine.htm.
You can receive Mary Staton's FREE Weekly On Wealth (WOW!) email
newsletter at http://www.billstaton.com.
Please email Bill with questions or comments at firstname.lastname@example.org.
is reprinted, by permission, from Mr. Staton's article in Information
Line, a monthly newsletter published by Asset
Strategies International, Inc., which offers
strategic commentary on topics such as precious metals (including
numismatics), foreign currencies, and overseas asset protection.
Authored by ASI's two owners, President, Michael Checkan, and
Executive Vice President, Glen Kirsch, Information Line is a valuable
resource for overseas investment strategy development.
the Mutual Fund Salesman Forgot to Mention.
Woods, President & CEO of Odyssey Advisors, LL
sales charges, high fees, and excessive diversification will have
you working way too long.
funds or ETFs target all segments of the equity market. Many have
extremely low expense ratios and these are the perfect way to
participate in the most attractive segments of the stock market
with low expenses that leave more money in your portfolio to benefit
Woods, President & CEO of Odyssey Advisors, LLC.
is directed to people likely to work at least another decade before
retiring and whose goal is to accumulate the necessary assets.
The bottom line is that, if you want to enjoy retirement, you'll
have to invest in stocks. At present, bonds and money markets
offer a return that's barely above the real inflation rate, so
an investment in these means you'll probably end up eating cat
food when you stop working. Investing in stocks means dealing
with volatility and some ugly years, but that's the price of being
able to maintain your lifestyle when you retire.
It's an open
secret that men have generally been more inclined to deal with
this risk than women, who tend to invest more conservatively.
The significantly lower returns of bonds and cash coupled with
longer life spans means that too many women outlive their money
and spend their retirement living modestly. According to the U.S.
Census Bureau, 17.3 percent of nonmarried elderly women (widowed,
divorced, or never married) are living in poverty today. This
statistic is too high, so we're going to attempt to raise the
comfort level with equities by de-mystifying the stock market
and identifying it's more attractive segments.
Short Primer on Common Stocks
Most of the time, stock market investors appear to chase more
fads than the fashion industry and it's fair to ask whether there
are investment themes that stand the test of time. As it turns
out, there are two relatively simple concepts that make up most
of what you need to know to become a successful investor. What
you need to remember can be summed up in 12 words, SMALL IS GOOD,
BIG IS BAD, VALUE IS GOOD, GROWTH IS BAD.
for a big, dumb, bureaucratic company that thinks they can shrink
their way to prosperity if they fire enough people? It shouldn't
be much of a surprise that smaller companies are better investments.
In this case, when we refer to small or big, we're referring to
the total market value of the shares of stock outstanding. In
other words, it's the amount that would be paid to buy all the
shares in the open market, also known as the market capitalization.
Companies in the stock market are then divided into the following
a.k.a. "Blue Chips" = large capitalization
companies = midcap
companies = small cap
companies = microcap
measure is based upon an accounting measure of the value of the
company known as book value. Interestingly, this is a valuable
measure in spite of the fact that the accounting value of a company
rarely has much to do with the real value. When the price of the
stock is compared with book value per share, we get the following:
with a below average stock price/book value = value stocks
with an above average stock price/book value = growth stocks
our benchmark for price to book value is the S&P 500 Index.
Based upon today's (9/27/05) closing price, the price to book
ratio is 2.87. As a result, this is considered the current dividing
line between value stocks and growth stocks.
getting the impression that successful investing isn't exactly
rocket science, you're right. As companies get bigger and more
bureaucratic, they become less attractive investments. Also, companies
whose stock is cheap relative to the underlying assets outperform
companies that are expensive. Sounds too simple? Here's the data
from Ibbotson Associates/University of Chicago:
Annual Returns 1928-2004
Large Capitalization Stocks (S&P 500 Index) = 9.96%
Midcap Stocks = 11.39%
Small Cap Stocks = 11.70%
Microcap Stocks = 13.14%
All Growth Stocks = 9.01%
All Value Stocks = 12.55%
to say that growth stocks and large cap stocks don't have their
moments in the sun, such as the 1990s. However, if you focus on
smaller companies and value stocks whenever you're asked to make
an allocation to your 401k or company retirement plan, you'll
probably be able to retire sooner.
A common mantra among professionals is the need to diversify.
In this context, you need to understand that one of the most important
functions of diversification is to protect investment professionals
from lawsuits. This country has a legal system that allows anyone
to be sued for just about anything and some investors inevitably
morph into victims whenever the stock market goes down. With the
current oversupply of lawyers, someone will always take their
case. Professionals know they can be sued for a lack of diversification,
but rarely for too much diversification.
is that too many people in our industry recommend portfolios that
are absurdly over-diversified. There are a handful of stock market
segments that offer attractive returns with moderate risk over
time and too many other segments that offer unattractive returns,
too much risk, or both. For an investor that wants to retire sooner
rather than later, a little bit in every segment of the stock
market means only average returns at best. Deduct high sales charges
and expense ratios, and the road to retirement gets a lot longer.
reality is that the stock market is currently infested with too
many inexperienced hedge fund managers. Many haven't yet figured
out how companies play the game of managing earnings expectations
and react to almost every announcement by shooting first and asking
questions later. In their world, a conservative forecast is the
same as a downturn in the business, and taking a stock down 40%
because earnings per share missed by a penny is a rational response.
The result is that any stock can be nuked in a heartbeat, so you'll
save yourself a lot of aggravation by starting with mutual funds.
will give you diversification, which is useful for controlling
risk. However, diversification isn't a panacea for transforming
unattractive investments and it's very important not to get too
carried away. Limiting your investments to funds that target the
most attractive stock market segments will allow you to capture
the higher returns these offer over time while diversifying away
some investment risk.
Short Primer on Mutual Funds
The universe of mutual funds is divided into open-end funds
and closed-end funds. Open-end funds include those with sales
charges known as load funds and those without sales charges, known
as no-load funds. In addition to the sales charges, all funds
also have imbedded fees that are deducted from the cash in the
funds. Most commonly, these are investment management and administrative
fees. When all fees other than sales charges are combined, the
result is known as the expense ratio which is expressed as a percentage.
To calculate its impact, multiply the expense ratio by the value
of your portfolio. Even though you won't receive a bill or see
it disappear, that's the amount that will be taken out of your
portfolio every year by the fund management company.
In an open-end
fund, investors continually buy or sell shares when they add or
withdraw their money from the fund. Open-end simply means that
the total amount in the fund can rise or fall as investors add
or withdraw funds. Open-end funds are required to establish a
daily price for shares, called the net asset value or NAV, and
are required to buy and sell shares at the current NAV daily.
In a closed-end
fund, capital is raised through an initial public offering, and
the proceeds are then invested in securities that meet the investment
objectives in the fund's charter. The shares trade on the New
York Stock Exchange or American Stock Exchange just like stock,
and like stocks, investors pay a commission when these are bought
or sold. Supply and demand determines the price of the shares,
although the price is still generally tied to NAV per share.
A good general
rule of thumb is that the folks selling and managing mutual funds
are going to get you one way or another. Mutual funds that have
high sales charges usually have relatively low (under 1%) expense
ratios. No load funds or closed-end funds usually make up for
the lack of a sales charge with high expense ratios (over 1.25%).
However, there are more than a few Gordon Geckos out there that
manage to combine high sales charges with high expense ratios.
In the last
few years, a new type of closed-end fund has emerged that no rational
broker or mutual fund salesman is going to recommend. They're
called exchange-traded funds or ETFs and target all segments of
the equity market. Many have extremely low expense ratios and
these are the perfect way to participate in the most attractive
segments of the stock market with low expenses that leave more
money in your portfolio to benefit from compounding. Here's an
overview of some of the choices available http://www.ishares.com/fund_info/equity.jhtml.
Dimes, and Serious Dollars
A new client recently came to us for an evaluation of his
proposed portfolio. He had been sold a family of open-end mutual
funds with high sales charges, but those charges had run out and
his broker was no longer being paid. Not surprisingly, his broker
found a whole new family of funds that were touted as a huge improvement
over his current portfolio. These new funds targeted the large
capitalization segment of the stock market and were a particularly
egregious example of high sales charges of 5.5% coupled with a
high expense ratio of 1.30%.
To see how
this alternative stacks up against an exchange-traded fund, we'll
use the S&P 500 Index and start with 1972. In the real world,
you're going to pay at least pay an expense ratio and maybe a
sales charge. We'll use the DJ iShares S&P 500 Index (symbol
IVV) with an expense ratio of .09% and deduct these expenses from
the historic returns on the S&P 500. We'll also deduct a 5.5%
sales charge and a 1.30% expense ratio from the same returns.
Once this is done, we'll compare the growth of $1.00. Remember
that a sales charge of 5.5% means that your portfolio has to increase
by 5.82% to get even which is the return on 94.5 cents getting
back to $1. With the open-end fund, we'll start the portfolio
at 94.5 cents while the ETF portfolio will start at $1.00.
in a Dollar 1972-2004 Using Exchange Traded Funds With .09% Expense
500 Index = $34.53
in a Dollar 1972-2004 With 5.5% Sales Charge and a 1.30% Expense
500 Index = $22.63
illustrates is that a fairly small difference in expense ratios
coupled with eliminating the sales charge can make a dramatic
difference in the size of your nest egg at retirement. In this
case, reducing the expense ratio by 1.21% and eliminating the
sales charge increases the size of the nest egg available at retirement
by over 53%. I'm sure your nephew who sells mutual funds is a
nice guy, but is he THAT nice a guy?
To take this a step further, we created two separate portfolios.
One is the classic professionally managed and diversified portfolio
with growth stocks, foreign, large cap, and midcap. The other
targets the attractive segments of the stock market. The difference
in compound returns for these portfolios was less than 2.5% per
year. That doesn't sound like much, but compounding that additional
return from 1972 roughly doubles the amount available at retirement
as you can see from the following:
in a Dollar 1972-2004 Using Exchange Traded Funds
of MicroCap, Small Cap, REITs, & Value = $72.70
of Large Cap, MidCap, Foreign, & Growth = $37.20
interested in creating your own portfolio, here are the exchange-traded
funds used in the above example. The only caveat is that most
of these funds didn't exist in 1972, so the growth in a dollar
was calculated using the index total returns from Ibbotson Associates
and deducting each fund's annual expense ratios.
of MicroCap, Small Cap. REITs, & Value
MicroCap Index Fund - Symbol IWC, .60% Expense Ratio
Small Cap 600 Index Fund - Symbol IJR, .20% Expense Ratio
Index Trust REIT Vipers - Symbol VNQ, .18% Expense Ratio
3000 Value Index Fund - Symbol IWW, .25% Expense Ratio
You Don't Want to Manage Your Own Portfolio
Until recently, our firm has always been reluctant to add
mutual funds to client portfolios. We have bills to pay also,
and by the time our management fee is added to the fund's expense
ratio, there didn't appear to be enough left for clients to earn
a decent return. However, that's changed with exchange-traded
We still haven't
found a convincing reason to invest in foreign stocks, so our
investments are limited to segments of the U.S. equity market.
Instead of keeping an allocation locked in place, however, our
allocations change as interest rates rise and fall and as the
economy gets stronger or weaker. By investing aggressively when
the chances of a high return are greater and investing defensively
when the environment is likely to be more difficult, we think
we can add enough value to offset the management fees.
our Equity Allocation Portfolios in May 2005 and the track record
so far is short but encouraging. If you don't want to manage your
own portfolio and have minimum liquid assets of over $100,000,
please feel free to contact us.
is the President & CEO of Odyssey Advisors, LLC, an independent
investment advisory firm specializing in equities and fixed income.
He can be contacted at www.odysseyadvisors.com
has been obtained from sources believed to be reliable however
Odyssey Advisors LLC does not warrant its completeness or accuracy.
Opinions constitute our judgment as of the date of this material
and are subject to change without notice. This material is not
intended as an offer or solicitation for the purchase or sale
of any financial instrument. Securities, financial instruments
or strategies mentioned herein may not be suitable for all investors.
Your Job, Not Your 401(k).
Brokerages Make Rollover IRAs Easy.
It is important
to be long-term greedy with 401(k) money. Choices you make today
impact your future financial security. Thus, when changing jobs,
carefully consider what you do with your 401(k) money. The options
are to leave the money in your former employer's plan, roll the
money to your new employer's retirement plan, take a cash distribution
or move the money to a Rollover IRA. Three factors to consider
when weighing your options are: determine the present and future
tax consequences of each option; reflect on the option that best
complements your other retirement accounts; evaluate how much
control you will have over your money with each option.
leaving your 401(k) money in your former employer's plan, it continues
to grow tax deferred and maintains the ability to roll over later.
You also avoid income taxes, penalties and a 20% government withholding
drawbacks. Investment choices are limited to the employer's plan.
Most employers pre-select the mutual funds available in their
401(k) plans. This relieves you from screening numerous funds,
but also limits your investment selection. The employer's plan
may further hinder flexibility by limiting withdrawals and exchanges
between investments. Some employers require a rollover
if your 401(k) is below a specified amount at the time of your
It To the New Job
you roll over 401(k) money to the new employer's retirement savings
plan, you face the same issues as leaving it with the former employer.
However, there are two additional benefits. Tracking your retirement
assets becomes easier and you may be able to borrow against your
most tempting option is to take a cash distribution. However,
the costs outweigh the benefits. You are able to use your money
immediately, but incur losses due to the 20% mandatory withholding
and 10% early withdrawal penalty. The intangible losses are the
flexibility to move into a qualified plan or IRA after 60 days
and the money is no longer in tax-deferred status.
final option is a Rollover IRA. A rollover is a tax-free movement
of cash or other assets from one retirement plan to another. A
Rollover IRA provides flexibility by allowing you to invest money
however you deem appropriate and by providing you with control
to invest and access your money without going through a 401(k)
provider. The IRA assets can be rolled back into a 401(k) or converted
to a Roth IRA at a later date.
also drawbacks to this option. You cannot borrow against the assets
and there is no special distribution alternative, such as net
unrealized appreciation (NUA) treatment for distributions of company
stock or forward averaging.
Many of the
discount brokerage houses offer Rollover IRA plans. Schwab, E*Trade,
Harrisdirect, Ameritrade and TD Waterhouse1 offer these
services on their websites.
offers a Rollover IRA and enables you to apply online. Their Amerivest
center (located under the Portfolio Investing link), helps you
determine your risk tolerance, diversify your assets, choose ETFs
(Exchange Traded Funds), monitor your portfolio's performance
and easily make changes when needed. Once your account is set,
the site provides extensive information on portfolio investing
and Exchange Traded Funds (ETF). It also makes it easy to trade
by outlining your investment choices, providing analysis tools
and excellent execution.
offers a Rollover IRA account and instructions for opening one
can be found on their website. They do not visibly provide a number
to reach a rollover specialist, but their online information is
The form to
open a rollover account is most easily found by typing in a prompt
in the search box. E*Trade provides a comprehensive section on
frequently asked questions about Rollover IRA Accounts. The site
provides an informative outline of their Rollover IRA plan by
listing account minimum and maximum guidelines, stock trading
commissions, account features and eligibility requirements. There
is widespread information on the website that is accessed most
easily by using precise searches.
Rollover IRA will complement E*Trade (once the E*Trade acquisition
is completed). A link to their application, recent articles on
retirement plans and guidance on the nature of IRAs and your investment
options are available on one page. They also provide an asset
allocator to aid in determining an asset allocation mix for your
portfolio, based on factors such as investment objective, risk
tolerance and investment time horizon. In addition, HarrisDirect
offers a FundCenter, which is a source of 9,000 mutual funds.
helps you make informed decisions as you take control of your
401(k) by providing ongoing news and articles in their Education
offers two options to help you through the rollover process. They
provide a retirement specialist to explain your rollover choices.
You can begin the process of opening a Schwab Rollover IRA account
over the phone, and set up an appointment with an investment consultant.
The other option is to apply online.
provides a range of investment choices. To help you explore equity
opportunities, they provide Schwab Equity Ratings, multiple research
perspectives, screening and monitoring tools, portfolio alerts
via email and extended hours trading. Schwab Equity Ratings is
their approach to evaluating stocks that may be right for you.
To help you easily choose mutual funds, Schwab provides a list
of pre-screened, no-load, no-transaction-fee funds. In addition,
Schwab offers fixed income investment options.
research and guidance on their website. Schwab displays links
to articles germane to the various investment products and services.
The website is user friendly and easy to navigate.
will enhance Ameritrade's site (once the Ameritrade acquisition
is completed). Ameritrade has impressive products to offer, and
TD Waterhouse has a detailed Rollover IRA section with brick-and-mortar
offices, where you can speak with investment professionals one
on one. The online articles provide you with a background for
commonly asked retirement questions. The tools and calculators
help you actively plan your retirement. One of the unique features
of TD Waterhouse's Rollover IRA is that there are online seminars
to help you better understand your options. The site also offers
a glossary of terms to make it a truly "do-it-yourself" 401(k).
When you are
faced with an unexpected decision of what to do with the money
in your former company's 401(k), rest assured there are options.
The Rollover IRA account is one option, and it is offered by the
discount brokerage houses. They provide you with flexibility and
control over your money. They have made the rollover process easy
by providing online applications and access to rollover specialists.
The accounts are effective because they allow you to invest beyond
the scope of the limits of your previous employer's 401(k) plan,
while providing you with support and guidance.
is an associate in the Debt Capital Markets Group at Harris Nesbitt
Corp. She focuses on the origination, structuring and
execution of high yield and investment grade public and private
debt financings, as well as private equity transactions. Previously,
she was an analyst in the Leverage Finance Group at Citigroup
Global Markets. Email: email@example.com
Disclaimer: NataliePace.com does not act or operate like a broker.
We are a media and information center. This article is intended
to provide current news, and, thus, to give investors a competitive
edge in their personal decision-making. The publicly traded companies
mentioned in this article are not intended to be buy or sell recommendations
and/or endorsements. ALWAYS do your research and/or consult an
experienced, reputable financial professional before buying or
selling any stock.
NYC Hotel For Executives:
Natalie Wynne Pace, CEO, NataliePace.com
Parker Meridien and Norma's Restaurant (for the 2nd Year in a
Meridien offers the ultimate NYC experience—breathtaking views,
mid-town access, beautiful clientele, stunning interior, with
delicious, tongue-in-check surprises at every turn and the best
breakfast in town.
Parker Meridien's Lobby.
Once in a
lifetime, you've got to stay at the Plaza, just to hear the clippity
clop of horse-drawn carriages outside your window, have the best
view of Central Park and don gloves for traditional afternoon
tea, ala the children's book star, Eloise. Equally important,
is the Waldorf=Astoria weekend, replete with gracious, efficient
staff, Cole Porter's piano and the lively NYSE stock ticker circling
the great bar and restaurant, the Bull and Bear. So if you're
traveling to New York City for a once-in-a-lifetime occasion,
pull out your credit card, and book a reservation at one of these
landmark hotels, and plan on paying richly.
you want the ultimate executive NYC experience (minus all the
pomp and circumstance or fancy dress code), that is chic, with
hip surprises at every turn, Le Parker Meridien is THE place in
NYC. Their motto is "uptown, not uptight." Rooms have views of
Central Park (walking distance), in this central mid-town location.
Le Parker Meridien also has the best gym of any hotel in America,
and one of the only pools in an NYC hotel. You can dine on the
best breakfast on the planet. There is a burger joint that feels
right out of Saturday Night Live (and has been known to have SNL
players eating there). The French bistro and bar is moderately
priced and delicious.
you think that Le Parker Meridien couldn't possibly have more
to offer, you find out the high-speed Internet connection is FREE,
and better yet, easy to connect to, with an IT support staff that
can trouble-shoot connectivity problems without wasting your entire
day. For the business executive, and really most travelers these
days, Internet connectivity is a deal-breaker. Le Parker Meridien's
service is the most reliable of any hotel in NYC that I've stayed
at, and the per diem savings really beautifies your bottom line.
Your Le Parker
Meridien experience is designed to be delightful and memorable
from the moment you hit the elevator with Charlie Chan on the
monitor, to the moment you place your Fuhgetaboutit sign on your
hotel room door, to the delectable breakfast fare at Norma's (best
breakfast in NYC)… To book a reservation, call 212.708.7460
or visit the hotel online at www.parkermeridien.com.
the Best Breakfast on the Planet (located in New York City).
morning I visited this often-awarded brunch scene, I was tempted
to settle for my usual, a stack of nirvana, also known as the
"Light and Lemony" pancakes, which are memorable enough to make
me PLAN a trip to NYC just to get my regular fix of them. Victoria
Barr, Le Parker Meridien's Director of Sales and Marketing, was
adamant, however, that I try the house specialty--Waz-za.
make the decision easy. Everything looks so strange and enticing,
and the selections appeal to every side of your fantasy. After
swooning over Norma's signature shot of smoothie (using seasonal,
fresh fruit), how do you choose the second sensation? Hudson Valley
Duck Confit Hash or Banana Macadamia Nut Flap Jacks or Granny
Smith Apple and Red Pear Crepes?
having one man walk into your life who cuddles, whips up gourmet
meals and plays flute and piano duets with you, and another who
salsa dances, throws you over his shoulder and knows the exact
spot on your neck that sends chills up your spine. Just how are
you supposed to choose between the two? Do you want dessert for
breakfast, or something utterly decadent, that you might not be
able to stomach in daylight? (err.. we're back to talking about
Norma's here.) So, Waz-za is like a crème brulee waffle
parfait (Don't ask, just try it, it's the house specialty for
good reason) and the Foie Gras French toast is … pretty much the
way it sounds, only, surprisingly compatible given its name. The
egg bread, asparagus, mushrooms and brown stock are delightful,
though quite robust—definitely more for the steak and eggs lover
or for the late brunch.
associate and I did something society allows, in food at least.
We chose BOTH and then split them in an orgy of decadence not
often seen among business associates. (We ate freely off of one
another's plate, abandoning all attempts at manners.) Forget about
those over-priced breakfast buffets in your five-star hotel, and
take a break from the daily NYC bagel. Get over to Norma's on
West 57th Street. If you're still in the Parker Meridien
neighborhood at lunchtime, you have to try the Burger Joint. No,
the Burger Joint doesn't serve salad or anything else besides
burgers, fries, shakes and ketchup. Don't ask. Yes, you might
see a star or two. Norma's at Le Parker Meridien. 118 West 57th
Street, NYC, NY 10019-3318. 212.245.5000.
Traders Signal Decline in Interest Rates (Down the Road).
Kelley Wright, Managing Editor, Investment Quality Trends Newsletter.
Wright, Managing Editor, Investment Quality Trends Newsletter
must be rolling over in his grave. The hearty band of revolutionaries
that swept into office in 1995 using the Gipper's mantra of smaller
government and fewer taxes has been replaced with the invasion
of the body snatchers. To be sure this current version of the
majority in the lower House is artful in the use of camouflage,
insisting on having the "R" after their names and holding the
line on taxes, but when it comes to spending even inebriated mariners
have cause to blush.
sailors are at least true to their nature; we expect them to cavort
and carry on. Purported fiscal conservatives, however, don't have
a leg to stand on when they behave like the lot that was tossed
overboard to make room for this current group of charlatans and
power addicts. Oh for a viable alternative!
ultimate insult to the legacy of the Gipper is that his alleged
successor has accomplished what all the jawboning by the esteemed
Chairman of the Federal Reserve Open Market Committee could not;
the raising of the long end of the yield curve.
when the bond markets had decided to sit out the drama while the
Greenspan Fed raised short rates until the bubble de jour was
burst and then rush in with a massive round of rate cuts, the
top of the ticket uttered the nine words that sent shudders through
the bond trading pits; "We're from the government and we're here
appears that the Federal checkbook that never closes is a horror
too terrible for the bonds to imagine, thus the exit from the
long end of the curve. So what does this have to do with stocks?
Only everything. When the interest rate on treasury notes and
bonds is at the lower end of the range, the total return potential
for high-quality stocks with an established dividend is extremely
competitive, particularly on an after-tax basis. Logically, when
the interest rate on notes and bonds is at the higher end of the
range the competitive advantage for those stocks dissipates and
the shares will struggle.
explains the current bear market in the financials, which suffer
first and presage a general decline. Within those depressed shares
lies opportunity, however, and the wait won't be too long.
technical guru Scott D. called me on Wednesday with an interesting
observation. The euro dollar market is one of the largest markets
in the world and unusual activity in a specific contract at a
specific strike price and month will often signal a change in
the major trend. It appears that in the three-month Euro dollar
options that all is normal, until the December 2006 96.25 calls.
Specifically there is seven to nine times the open interest (volume)
in that one option at that one strike (price) than in any other
options at any other strike.
getting into too much inside baseball, when traders purchase calls
it typically means they believe that the price of the underlying
security will rise in price and so they want to lock in the current
price while it is low. So, when traders buy calls on fixed income
instruments they believe those instruments will rise in price.
Now remember, when fixed instruments rise in price their yields
decline. So if traders want to lock in the price of the December
2006 three month Euro dollars at 96.25, it means they believe
those contracts will appreciate and interest rates will decline,
about seventy five basis points or three quarters of one percent
to be specific.
underlying value of these options contracts is into the trillion
of dollars. The amount spent on purchasing these options is into
the billions of dollars. This is to say this isn't idle speculation;
these are some of the savviest traders in the world telling us
they see another big decline in interest rates, a little down
the road perhaps, but backing up their opinion with a very significant
benefit of this information to the Trendphile is
this; our system is working. The Undervalued category is overweight
with financial issues (AIG, BAC, C, MAFB, ONB, and WM) as capital
has abandoned those shares from fear of inflation and rising interest
rates. Do not be surprised to see some more names fall from their
Rising Trend back to the Undervalued area as well, Popular (BPOP)
comes specifically to mind, as does Synovus (SNV).
system is working because it is identifying the historically repetitive
area of undervalue in the very high-quality companies that meet
our criteria. Are we early? Yes, but then again we always are.
As bottom-up value investors our system works because
we are early.
February of 2003 we featured Nucor (NUE) when it fell into the
Undervalued category. Some subscribers hooted and hollered that
a steel company would never provide a return of any consequence.
By the time we issued a sell on NUE (at Overvalued) the stock
had split twice and returned roughly one hundred percent. A similar
situation exists today with Florida Rock (FRK). This is a stock
we first recommended at Undervalue in late 2003. As with Nucor,
FRK has also split twice and has recently moved to Overvalue.
We had hopes the company would raise their dividend but they haven't
and as long time subscribers know the rules are the rules.
can see Granite Construction (GVA) another stock we recommended
at Undervalue when it was $17, completing its journey to Overvalue
in the not too distant future unless their Board raises the dividend.
is when the situation appears bleak or the prospects unlikely
that opportunity is most present. It takes courage to defy the
conventional wisdom and ignore the hysteria to snap up a value
when it is handed to you; thus the designation of the enlightened
Quality Trends (at IQTrends.com) is rated the #1 Top Performing
Newsletter for five-year, ten-year and fifteen-year risk-adjusted
returns by Hulbert's Financial Digest. That's no small feat,
considering the Wilshire 5000 has posted negative annualized returns
of -1.4% for the past five years, while Investment Quality Trends
has booked an impressive, annualized 15.90% gain. If you are interested
in accessing Mr. Wright's newsletter and to post those kinds of
gains yourself, go to www.IQTrends.com.
Business Tip: Be Sure You're Charging Enough Money!
love to get new clients for their business. You work hard developing
your skills and marketing yourself and the payoff comes when someone
says, "Yes, they want to hire you." Then comes the negotiation
regarding fees. It's been said that the number one reason small
businesses go under is because they don't charge enough money
to meet their expenses, salary and benefits, and still have a
profit. Here are some guidelines to ensure that you take everything
into consideration when pricing your services:
your "profit price." Create a monthly operating budget for
your business that factors in all your costs including overhead,
sub-contractors, taxes, salaries, marketing expenses and every
variable you can think of. Factor in irregular expenses that occur
annually or quarterly such as insurance expenses, annual tax preparation
fees and Christmas gifts. Don't forget repairs and maintenance
and an allowance for refunds or bad debts. Total all these expenses
and then add an additional 5% for contingencies (because you will
have forgotten something!), and an additional percentage for your
profit. Now add in your income goal, which would be equal to the
salary you would be paid if you were employed by someone else,
plus fringe benefits, including a retirement plan. Divide this
total by the number of hours you want to (or are willing to) work
each month and that will tell you the hourly rate you must charge
for your service.
+5% +10% +Income Goal =Total / Total Hours =Hourly Fee
+$100 +$200 +$3,750 =$ 6,050 / 130 = $ 46.54
+$100 +$200 +$5,000 =$ 7,300 / 130 = $ 56.15
+$150 +$300 +$10,000 =$13,450 / 130 =$103.46
Now your question
might be whether or not this hourly rate is competitive for your
type of business. The rule of thumb is to be priced in the "high
middle" range of your competition. If your income goal calculation
puts your hourly fee too high, then you must trim expenses, work
more hours, reduce your income expectation, choose another line
of work with a higher profit potential or get very creative!
that time doesn't always equal money. When calculating your
"profit price", don't forget that you will work a number of hours
"on" your business but not "in" your business. That means that
not all of your time is billable to a customer. There is your
administrative time writing letters, doing budgeting, billing
or accounting and marketing time making phone calls, going on
appointments, attending networking meetings, etc. Entrepreneurs
are often overly optimistic about the number of hours each week
they can work on client business and perform all these other tasks,
and therefore overestimate their income potential. Or they find
themselves working too many hours each week and then burning out.
Make sure to take this into account when figuring your "profit
price". Raise your price rather than increase the number of hours
you're willing to work, or find someone to delegate to.
your "profit price." That is, be faithful to your income goal
and avoid the temptation to lower your fees to your absolute bottom
line in order to get business. Yes, you work hard marketing in
order to find someone who wants to hire you and you are anxious
to make the deal. But everyone knows the cheapest price doesn't
equal best quality. You will find that the clients who are shopping
for the lowest fees are the most difficult and demanding to work
for, and you will spend more time than you will be paid for on
their work. Stand firm on your "profit price" and you may have
fewer clients initially but they will be higher quality clients--easy
to work for and happy to pay you. And it often happens that the
higher your fee, the more respect you get. Sometimes you can eliminate
yourself from consideration by a client because your rate is priced
too under market. The prospective client might then assume that
you are either new at this, not good enough, or in financial trouble.
A friend of mine started a home-based business doing computer
consulting. When she called a friend to solicit business and told
him her price of $50 per hour, he told her that he could not recommend
her unless she charged at least $90 per hour. She understood then
that he could only refer his customers to a top-notch professional
and that such a professional would charge this kind of fee.
The time and
care that you invest in pricing your services will pay off handsomely
as you start to meet and then exceed your income goals. You are
successful and you deserve it!
is the author of "The Wealthy Spirit: Daily Affirmations for Financial
Stress Reduction". She created and teaches the Financial
Stress Reduction® Workshops on which her book is based
in the Los Angeles area and gives programs throughout the country.
Her free e-newsletter is available at www.thewealthyspirit.com.
Permission granted for use on NataliePace.com.
CEO (Chief Everything Officer).
Secrets of Wealthy, Over tasked Women.
Pace Founder & CEO, NataliePace.com
Do you feel
like the Chief Everything Officer? You're not alone. If you've
got kids, chances are that you are juggling nine jobs (chauffeur,
accountant, chef, bottle washer, tutor, janitor, psychologist,
Dr. Mom and then whatever day job you have), while only getting
paid for one. So, it's easy to understand why, at the end of the
day, watching Desperate Housewives sounds more relaxing
than reading Peter Lynch, or why, at the nail salon, you can't
resist getting your Jen/Brad/Angelina fix. Money, Fortune,
Forbes and NataliePace.com aren't lying around most beauty parlors
The good news
is that there is room in your schedule, believe it or not, for
you to become richer than you are today. You don't have to be
a Constant Gardener to keep the weeds from overrunning your flowerbed,
but you do have to turn on the garden hose occasionally and make
sure someone trims back the kudzu. Plants die when they are left
unattended. So, how's your portfolio looking these days?
About Your Money
basic concept is one of the most fundamental differences between
wealthy people and people who are losing money in their 401K.
Throw aside those old prejudices that only the rich get richer,
and start adopting some of the sound thinking that makes that
the case. Rich people care about their money. Now, you might say
you care about your money, but when is the last time that you
checked your investments? (And yes, that brokerage statement that
you avoid opening each month is really you ignoring your money.)
Are you chasing after real estate today, just like you chased
after stocks in 2000? If you cared about your money, you'd pay
attention to it, instead of chasing fads, or buying lotto tickets,
or playing the slots in Vegas, or praying for a windfall from
first place to start is to replace the phrases "retirement plan"
and "brokerage account" with the word "investments." Your retirement
plan sounds like something that can be looked at tomorrow, and
your brokerage account sounds like a bunch of numbers that you
have to audit, while your investments are things that can bring
you rewards. In fact, the more you learn about investing, the
more likely that you will start reaping the harvest. Opening the
statements of your investments then becomes more of a delight
than a chore.
So, how do
you start really caring about your money? Start by doing a little
homework BEFORE you let anyone else tend to it. You wouldn't give
your child over to a nanny without checking her references and
giving her an outline of your parenting philosophy, so why blindly
hand over the other most important aspect of your life - your
nest egg - to just anybody (even if they are related to you)?
the past, if you didn't worry about your retirement plan, that
was okay. The company handled it for you and guaranteed you pension
in your golden years. That's not the case today. Today, most Americans
direct their own 401Ks. If you invest and lose your retirement,
it is your problem. There are no guarantees, outside of the government's
safety net, which is going to be less than what you were counting
on. You don't hear many people bragging about the size of their
all kinds of excuses for not taking charge of their investments.
They're afraid of upsetting a spouse. They don't understand it
any way. They don't have enough time to deal with it. They're
afraid they're not going to be good at it. Imagine thinking that
you could take a cooking class and would still never prepare a
delicious meal. The odds of earning returns in investing are great,
especially over the long term, and increase with your level of
aptitude, confidence and experience.
can guarantee you that if you thought there was a winning lottery
ticket inside your brokerage statement, that would be the FIRST
piece of mail you opened each month. Do you see how differently
a wealthy mindset works?
trick your mind into understanding that you CAN do this and that
the result will be MORE MONEY. Then put aside the gossip rags
(at least once a month) and grab a money magazine. Order a Peter
Lynch book online.
and choosey with money seminars (both free and paid) because the
motivation for most seminars is not to get you rich; it is to
sell you something. You have to be very careful about the source
of your information. Top-ranked stock newsletters (especially
those ranked by Hulbert's Financial Digest) have proven
track records and can be a source of good information. The price
that you pay to get quality research and data should pay off,
whereas free information might actually end up costing you an
arm and a leg.
are you are already diverting some of your salary directly
into an IRA and/or 401K, but are you putting aside enough? As
a general rule, men are counseled to set aside 10% of their salary,
while women, who live longer, should put aside 12%. Direct this
percentage (more if you're making up for lost time) directly into
your IRA, your 401K and/or your brokerage account each month first,
before you pay any bills. An auto-deduction is best, so
that you don't even have to think about it.
will match part of your contribution to your 401k, so take full
advantage of that free money. Most company-provided 401Ks have
more limited options as to what you can invest in and how often
you can change your allocations. It's important to make the proper
choices when you sign up, and to consider this to be an account
where you take a longer view and have more limited access to the
money. Note that there is usually a pre-tax benefit to investing
in a 401K as well.
any remaining percentage of your 10-12% monthly personal tithe
directly into your brokerage account Individual Retirement Account,
especially if you want to work some of your money a little harder,
with the goal of higher returns. (This is where a subscription
to a reputable stock newsletter can be very valuable, especially
if you're just beginning to make your own investments.) As the
balance in this account grows, this money could become a future
down payment on real estate.
not willing to work this account or if you'll be tempted to spend
the money on bills or travel, this is probably not a good option
for you. If you can't handle the freedom of the brokerage IRA,
sticking with the restraints of the employer-provided 401K is
probably a better choice, and you'll avoid the quarterly fees
that apply to inactive accounts. (Maya Patel has listed some of
the brokerage IRA options in her article this month.)
101: Portfolio Diversification.
of the most important considerations in your investment strategy
and retirement plan is to get the portfolio diversification right.
Your certified financial partner should personalize your portfolio
to match your risk tolerance and life goals, in addition to diversifying
it. There is a general guideline, however, from which to start.
(Many online discount brokerages have surveys to help you personalize
your diversification plan, if you're doing it on your own.)
As a general
rule, take a percentage equal to your age and put it in a SAFE
place, where there is no chance that it will go down. Safe means
savings accounts, money markets and Treasury bills. (You can lose
money in bonds, so they are not 100% safe.) 401ks allow you to
allocate a portion of your plan to the money markets. Just do
it. This allocation strategy allows you to take on more risk /reward
when you are younger (and are safeguarding just 20% of your portfolio)
and to protect more as you get close to retirement (when you will
be protecting over 60% of your money).
The rest of
the 401K plan should then be diversified across different sectors
of the stock and bond markets. You don't want to have all of your
eggs in any one basket, whether it is an individual stock or a
large cap blue chip. In general, exchange-traded and index funds
are more popular today than mutual funds because the fees are
lower. Read up on which funds are attracting the smart money.
Don't just take a shot in the dark. (Paul Woods has a great article
on funds in this ezine.)
be too Quick to Trust.
There is a world of difference between a well-regarded
media source that is known for high standards of journalism, and
a press release, which is written by the company's marketing and
public relations staff. There is a night and day difference between
junk mail on penny stocks and top-ranked, subscription-based stock
newsletters, whose returns are tracked by respected, independent
organizations, like Hulbert's Financial Digest. There is
an entire life behind the article that is missed when you just
read the headline.
the most important facts lie on page 13, while the headline has
been written to attract your eye. The press release is the company's
story, while the article brings in outside experts--both critical
and supportive--and an independent view of the facts, taken in
a broader context. (PRNewsWire, BusinessWire are news releases,
not articles.) The penny stocks/junk emails tout one of the riskiest
plays in investing, that of companies that don't make the grade
or meet the standards to trade on the big boards--NASDAQ, NYSE
and the American Stock Exchange. Stock picks made by television
pundits are only as good as their track record. The sound bytes
may sing to you, but that doesn't mean that it isn't a Siren's
song. Check their track record, and if they are not tracked by
a reputable organization, at least track their picks on your own
for a year before following their advice.
the Right Partner, not
the closest breathing human. Don't let your husband, your wife,
your cousin, your best friend or the guy behind the counter take
control of your future, until or unless they have proven themselves
OVER TIME to do a great job for other people without any complaints
to the National Association of Securities Dealers (NASD). This
is a tough one because a lot of people associate allowing their
partner to invest their money as a show of love. Love is love
and money is money. You can't send love off to the bank to pay
your mortgage and, money can't buy you love. Everyone benefits
when you're happy, and you're not going to be happy if your dreamboat
loses your nest egg.
brokers are different from gardeners. They are not paid to make
your garden beautiful. They are paid on commission, i.e. when
they sell you something. Money managers are more like gardeners.
Their fees are typically tied to performance. However, money managers
are only available to individuals who have more than $100,000
in their portfolio. Be very careful when selecting your financial
partner. With brokers, as with husbands, it pays to pick a good
brokerages have made it easier than ever to manage your own retirement
plan with their Rollover IRAs and now, more than ever in history,
you have instant access to all of the news, research, information
and SEC filings on companies. The information you need to succeed
in investing is available at the click of a fingertip. Chances
are that you are spending more time thinking about your account
than your broker any way. It may well pay off for you to take
a more active role in helping it grow.
Your Bottom Line.
By Natalie Pace. Gains are Good in your 401K and Easy as 1-2-3,
When You Tap Into Your Feminine Side, and Forget about Mind-Numbing
and Lovers: It Pays to Pick a Good One. by Natalie Wynne
Pace, CEO & Founder, NataliePace.com.
Your Job, Not Your 401(k) by Maya Patel. Discount
Brokerages Make Rollover IRAs Easy.
the Mutual Fund Salesman Forgot to Mention by Paul
Woods. How sales charges, high fees, and excessive diversification
will have you working way too long
Corp. Takes on Cyber Space With Acquisition of Myspace.com
Natalie W. Pace, CEO and founder, NataliePace.com.
and stock report card.
W. Pace #1-ranked Stock Picker
the former Chairman and CEO of Intermix and the largest non-insider
shareholder, intended to throw a wrench into the News Corporation
acquisition of Intermix, the parent company of MySpace.com, by
offering his own higher bid of $13.50 per share. The move was
on behalf of FreeMySpace.com, an LLC set up to convince shareholders
that MySpace should remain independent and publicly traded. However,
on Friday, September 30th, 2005 at 3:00 p.m., over
72% of the Intermix shareholders, who voted or gave proxy, approved
the News Corp. acquisition, according to David Scott Carlick,
the managing director of Vantage Point venture partners and a
Board Director of Intermix Media. News Corporation confirmed,
in a press release, that Fox Interactive Media, Inc., a wholly
owned subsidiary of News Corporation, completed its acquisition
of Intermix on Friday at 7:00 p.m.
So, what happened
with Greenspan's offer? In an epic war of words, the former CEO
and Chairman of Intermix and the current Intermix Board of Directors
unabashedly aired dirty laundry in public to justify their divergent
positions. The Intermix Board of Directors discredited Mr. Greenspan's
offer, although it was $1.50 per share higher than that of News
Corp., citing uncertain financing for the deal, not enough cash
liquidity and internal "morale issues" associated with accepting
an offer from Mr. Greenspan, who was forced out of the company
in late 2003.
In a company-issued
statement on Wednesday, Intermix said, "In late 2003, when Mr.
Greenspan was relieved of his duties as Chairman and CEO of Intermix,
the company was struggling with an accounting restatement, SEC
investigation, NASDAQ delisting and numerous related class actions
lawsuits." The Board is confident that they have provided significant
value to Intermix investors and that the majority of shareholders
see the value in the News Corporation acquisition, calling Intermix
"one of the great turnaround stories."
News Corporation came calling, the company had just been slapped
with a lawsuit for AdWare and SpyWare by Eliot Spitzer's office
and the Intermix market capitalization had sunk to $137 million.
In light of the lawsuit, lack of investor confidence and reduced
cash position of Intermix, the News Corporation offer of $629
million (including the buy out of preferred shareholders and unvested
stock options) was considered by many financial professionals
at the time to be generous. According to one investment-banking
executive, who spoke under anonymity, "Having a stable bidder
at a price that was high for the time was a good deal."
along with at least two other shareholders who have filed lawsuits
against the executives of Intermix, strongly disagrees. According
to a proxy statement filed with the SEC, John Friedmann, Ron Sheppard
and Brad Greenspan have each filed class action law suits against
Intermix executives charging them with, among other things, self-dealing,
failing to obtain competing bids and accepting an inadequate price
for the company. According to Mr. Greenspan, "The company has
been nonresponsive, has not submitted documents to move the [bidding]
process along, and has continued to push the deal with News Corp.
We believe that is because of the sweet deal for the management
and insiders at the company."
asserts that MySpace.com currently competes with the top properties
online and could command a market capitalization on par with its
competitors. "Nielsen NetRatings reports an almost doubling of
online display advertising for Myspace.com from 6.3% in May up
to 12.4% of all online advertising impressions delivered online
in August," Mr. Greenspan said, noting that "users now spend more
time viewing MySpace.com than almost any other web site online."
Metrix statistics verify that Myspace's rankings are indeed competing
with Yahoo, MSN and Google, ranking above Google in both minutes
per visitor and total pages viewed. Nielsen NetRatings verified
that Myspace scored 12.4% of all ad impressions in August 2005.
Pages Viewed (MM)
Minutes Per Visitor
Internet: Total Audience
currently valued at $86 billion. Yahoo, the number one Internet
site across the board, is valued at $47 billion. So, did the Intermix
Board of Directors short shareholders by pushing a deal valued
at $629 million? Jodi Seidler, an Intermix shareholder who planned
to vote against the News Corp. acquisition, believes the deal
"is definitely undervalued." While Jodi understands why Greenspan's
offer was rejected, she had hoped for a better deal to come through.
"My hope and my feeling is that someone else will come through.
I think it's a really hot property to sell short, " she said in
an interview on Wednesday, before the acquisition became final.
for sure, there hasn't been such a battle over who gets to own
the hottest property in cyber space since the Trojan War. News
Corporation's acquisition of Intermix and Myspace.com proves one
thing. The executive team at News Corporation is truly one of
the most efficient conquerors on Wall Street and in cyber space.
AOL ended up costing Time Warner billions in time and money. The
top executives lost their jobs and the share price still hasn't
recovered. eBay acquired Skype for $4.1 billion. Yahoo purchased
40% of Alibaba.com for $1 billion. News Corporation swallowed
up one of the biggest players online for just $629 million.
to see the News Corporation New
Media Stock Report Card.
You'll see why News Corp. is the hot, undervalued corporation
in New Media, with a dinky market capitalization of just $17 billion,
compared to Yahoo ($47 Billion), Google ($88 Billion), Microsoft
($276 Billion), Time Warner ($85 Billion) and eBay ($56 Billion).
Ross Levinsohn, the new President of the newly formed Fox Interactive
Media predicts that with "a few shrewd investments, we can quickly
become one of the most exciting and innovative destinations on
certainly proof that News Corp. is committed, shrewd and fast.
Shareholders law suits over the acquisition are still being pursued.
The acquisition is final, but the story may not be over yet.
investors to start seeing the FIN presence soon. Yahoo, the number
one destination online, will also be added to the NataliePace.com Hot
News on Cool Stocks list.
by Natalie Pace.
Next Google. 4.1.05
Corp: a Collection of Creative, Energetic Executives. 3.1.04
Reasons Why News Corp. Stock Rocks. 3.1.04
are now spending more than they are earning, and personal savings
is a negative number. Is that a temporary dip or are we courting
R. Barth, PH.D., Senior Finance Fellow, Milken Institute
2005 Bureau of Economic Analysis (US Department of Commerce) statistics
show a negative ratio, -6%, of consumer spending to personal savings.
At the same time, gas prices are rising, and there is worry about
the consumer's wallet being stressed too much to continue to fund
the U.S. economy. For answers, we turned to Jim Barth, the Senior
Finance Fellow at the Milken Institute (a global economic think
has extensive background on the world economic stage. He was the
international team leader of a group advising the People's Bank
of China on banking reform in China. Previously he served in the
Congressional Budget Office for thrift supervision and was a political
appointee under Presidents Reagan and Bush, for regulated savings
and loans and thrift supervision in the late 1980s.
-- This month's BEA statistics show a negative ratio, -6%, of
consumer spending to personal savings. Are you concerned about
a debt-rich America? If people aren't saving and everything costs
more, how are they going to pay their bills?
The BEA statistics
measure income and consumption of individuals. The difference
between what people are spending and earning is saving, according
to their statistics. Another broader and more important measure
is the net worth of individuals.
If, for example,
I own a home and that home increases in value, that is an increase
in net worth. That increase in net worth represents savings. So
it may be that I am currently using all of my income and borrowing
to consume more, but nonetheless I'm better off because my home
is increasing in value. I can borrow against the value of the
home or sell the home and downsize. A lot of people are hoping
to do this when they retire. They can downsize, sell the home,
purchase a condo or rent, and with that appreciation maintain
a fairly decent standard of living. That appreciation is not captured
in the national appreciation and product accounts.
that home prices will remain high and/or increase. There is a
lot of talk of a bubble in real estate. What if real estate prices
We'd be really
in trouble if there was no increase in home and stock values.
Then you would find that not only are people consuming all of
their income and then some, but also their net worth isn't increasing.
point to Japan, which experienced a serious decline in both home
value and stock prices in the late 1980s, and still hasn't recovered.
It was in
the late 1980s, 1991 or so, that Japan had serious financial difficulties
in the banking sector. Real estate started to go down dramatically.
For a decade or longer, Japan's financial system was in terrible
shape. With respect to the US, there are a couple of potential
problems. People are able to consume more than their income might
indicate. People are taking on more risk. Home prices that have
gone up a lot may go back down. It's fine as long as prices go
a housing bubble, in your view?
identified areas where there are housing bubbles. Some people
mention San Diego, parts of Texas and Miami. If one borrows too
much, one may have trouble repaying the loan. Historically, home
prices tend to go up over long periods of time. We're talking
localized when we talk of bubbles. If an individual wants too
maintain a standard of living, they cannot rely excessively on
home price appreciation. That is really a potential problem. We
have had individuals who decided to retire in 1999 and 2000 based
upon the increase in stock prices. Some found that their portfolio
was worth a lot less. Some couldn't maintain the standard of living
they desired, and had to go back to work. Perhaps houses won't
keep appreciating. People may be assuming that they can retire
based on increases that are not achievable.
worried about the aggressive growth of hybrid loans and sub-prime
risk that some of the banks are taking on?
more expensive. If interest rates were to go up, there is concern
that people may have trouble repaying. When you tie in payments
on mortgages, higher interest rates and energy prices, there is
a potential problem down the road, unless we see appreciation
in stocks and homes and the energy costs go down. If one takes
an optimistic view, things don't look all that bad.
haven't even mentioned the pension problems. Many of the companies
founded before 1980, when benefits-based pension plans were the
norm, are having trouble meeting their pension obligations. General
Motors and Delta come to mind. The defense industry, airline industry,
and auto manufacturers are all cited as prone to risk here.
need more consolidation. All of the airlines were running on bloated
costs. Now what's happening, by filing for bankruptcy, a lot of
the airlines can lower their costs and hopefully return to profitability.
off their pension plans and reducing benefits and salaries, which
Pension Benefit Guarantee Corporation is in the business to protect
people's pensions. What we've seen, and this ties into savings,
is that individuals are now more responsible for what happens
to their retirement funds. Individuals have to make decisions
about what happens to their pension plans. They can't be guaranteed
any longer. Retirement plans depend upon returns in the stock
market. Under defined benefit plans, individuals knew the minimum
amount that they would receive. That's no longer the case. The
investment returns can be negative, not even just being low. So
that too means that individuals have to become more financially
savvy. It shifts the responsibility for what happens to the individual,
which may not be a source of optimism when it comes to the savvy
of individuals. Many just choose 50% bonds and 50% equity, and
they sometimes don't make changes and rebalance their portfolios.
are overwhelmed with all of the information out there, and often
have difficulty discerning sound from risky information.
It can be
overwhelming. When you think of the mutual funds and tax implications.
It can be overwhelming even for a knowledgeable individual.
As an aside,
English professors may not even have the knowledge to make great
decisions. It's not even a matter of formal education.
you consider to be the bare bones foundation of sound investing?
two guiding principles that work in investing. The first is, over
longer periods of time, stocks outperform bonds and corporate
bonds outperform government bonds. When you are young, weight
one's portfolio toward stocks. When one is closer to retirement,
one wants to do the opposite, weighting towards bonds and risk-free
bonds. When one is older, life expectancy is shorter and one wants
to be sure one doesn't lose one's retirement funds by being over
invested in the stock market. US treasury securities are risk
guiding principle is diversification. Don't put all of one's eggs
in one basket. One wants a portfolio of assets - stocks, bonds,
bonds that are risk-free, stocks that are less risky than others
and pay dividends. In addition to that diversification, invest
in different assets. A home represents some diversification. Try
geographical diversification, i.e. going into different industries
and also into countries, like emerging markets - some of the former
Soviet countries from Eastern Europe, and some of the Asian countries.
That would include China.
think many too investors, spooked from the Internet crash of 2000,
are now placing all their bets on real estate?
for a lot of people, the biggest asset they hold is their home.
There is a lot riding on their home. Some people, who rely more
on their home, have to be careful and not borrow too much and
run the risk that the value won't increase. People who are more
diversified don't have to worry as much about a decline in home
price of gas weighing on everyone's wallet, analysts have expressed
concern about consumer spending.
One has to
be somewhat concerned that saving is now negative by a small amount.
It has been trending down over the past 20 years. It was about
10% about 20 years ago. It went down too 5% about 10 years ago.
If it were not for the increase in net worth, then one would be
more concerned, but it is looking at the two together that is
interest rates could double a person's mortgage payment. People
are already paying twice as much for gas than they were two years
the aggregate, I do not think there is a calamity on the horizon.
Some individuals may not fare as well as they expect. Individuals
are vulnerable if they are borrowing too much. Individuals who
have more net worth and more diversified portfolios can be less
happen to these beleaguered corporations, like Delta? Don't new
corporations, with 401Ks and more conservative health benefits,
have a distinct advantage? Jet Blue comes to mind.
some of the older firms will be replaced by newer firms. It's
individuals caught in the middle that's the problem. If you're
older, there's not much you can do. You might find it difficult
to retire or you might already be in retirement and find that
your income is wiped out. That's where the government comes in
and provides a safety net. It's not too high to induce people
to engage in too risky activity.
it's down to individuals to get savvy about their money and to
reduce their risk through diversification and proper asset allocation.
not enough of that done by enough individuals. Everyone needs
to look farther ahead. Individuals who get a college education
are looking ahead. People earn more and are better prepared for
retirement with an education. We are not realizing that we are
going to be living a lot longer than our parents. People can expect
to live into their late 70s today. At the turn of the century,
life expectancy was 50. People didn't have to worry about retirement.
The last day on the job might be the day before they died. People
in 1900 weren't thinking about defined contribution plans. Now
people who retire at 60, may have 20 years in retirement. Those
years have to be supported by retirement plans. If an individual
is 25-30, they have to be looking ahead and saying, "What can
I do today to support my retirement years." You can't assume that
your pension plan will support you in the lifestyle that you want
in retirement years.
costs are rising…
get older, frequently, that is when a lot of health costs are
homes in New Orleans, and for many of them that was their main
asset. For them, it is still not clear who is going to cover that
loss. Is the home fully insured? What about the goods within that
home? Is the government going to cover it? Retired people especially
have to worry…
It's one thing
to be diversified in stocks and bonds, but in a home, you don't
have geographic diversification. Your porch isn't in Central US
and the living room in New Orleans. The home is all one entity
and one location and if your area is susceptible to hurricanes
and tornadoes and earthquakes, that's an additional risk. You
have to think about insurance. Those individuals are more susceptible
to loss than other individuals. Not everyone wants to move from
Los Angeles and New Orleans to Montana…
don't. In fact, at a community dining table at a local Santa Monica
restaurant, a local was overheard claiming, "I think living and
owning in Santa Monica is priceless. There is no price that is
too expensive. We are living in the heart of the watermelon."
Everyone at the table agreed. Few would have, however, during
the Los Angeles riots of 1992. Or the Northridge Earthquake of
January 13, 1995. Or the Malibu fires of 1994. There was a mass
exodus out of the region, and real estate was available at the
lowest prices in 20 years.
Natalie Pace, top-ranked stock picker, per TipsTraders.com
Ghouls and Goblins Haunt the Street or Will Bewitching October
are not buy/sell recommendations. Always consult a certified financial
professional before buying or selling stock.)
October is the month that has the dubious honor of hosting the
worst market days on record-- Black Thursday (October 24,1929)
and Black Monday (October 19, 1987). Alternatively, when October
is not spooking investors, it can provide the delightful treat
of being the first month of the annual Santa rally, where historically
the majority of the annual market gains are to be enjoyed.
you don't want to send your kids out unattended this Halloween.
Even if the Wall Street ghouls only prey once every 48 years,
the scars last a lifetime. Additionally, with all of the risk
in the markets these days (rising interest rates, inflation, terrorism,
high P/Es, not to mention floods, fires and locusts), you don't
want to be overexposed in equities, especially when the money
markets are giving up bond-like returns at no risk. Make sure
you understand diversification, ETFs, 401ks, et al. and are practicing
sound modern portfolio theory to reduce your risk. If you don't
have a clue what I've just said, there are at least two articles
in every NataliePace.com ezine devoted to educating investors. Print
them out and read them once or twice in place of reports on Hillary
Clinton's alien lover. (The pictures of our contributing writers
are hot, by comparison!)
are average monthly returns from March 1971 through October 2003,
provided by Odyssey Advisors (www.OdysseyAdvisors.com).
average returns were as follows…
Facts, Quotes and Educational Information:
in the market. Plenty. "Too many borrowers, lenders, consumers,
bankers, bond investors, stock investors, hedge funds and pension
funds are taking on more risk than they should. And the end,
when it comes, won't be pretty." Jim Jubak, "Airlines
and the Epidemic of Risk."
faces Congress and International Labor Rights Fund. The
New York Times reported on Monday, 9.19.05, that Wal-Mart is
being sued by ILRF, accused of permitting sweatshop conditions
at factories in foreign countries. Congress, led by Representative
Sherrod Brown (Ohio Democrat), is looking into Wal-Mart's history
of taking out local businesses, low wages and skimpy benefits.
All that and pressure on earnings from higher transportation
costs, higher health care costs and potentially weakening consumer
spending. Wal-Mart should ultimately survive these storms, but
investors may end up seasick.
donations. Beware of scam artists pulling the purse strings
of your charitable heart. Do not respond to emails asking for
contributions to organizations that you have never heard of.
Donating your time may be the best thing you can do. There are
a lot of churches and communities housing evacuees that need
help distributing clothes, food, etc. and relocating families.
If you do not know a local organization that is helping evacuees,
NataliePace.com is donating 25% of our subscriptions in October to
CoAbode.org, an organization that is helping to find transitional
housing for those displaced. Go there to give, to refer and/or
to find out how you can help in your area.
gains, like great championship teams, are a mix of strong offense
and outstanding defense. Hunker down and get your defensive
game on. Don't worry about getting too fancy. Make sure you've
got a strong position in cash. Most Americans have less than
1% in personal savings. If this is you, meet with your financial
planner now on how to increase your money market position and
better protect your nest egg from a downturn in any of the asset
classes - real estate, stocks and/or bonds. With rising
interest rates, rising gas prices, rising property taxes, rising
home costs and increased inflation, chances are you are paying
more for basic necessities. Don't bet on things getting cheaper
in the near future.
Meetings with your Financial Planner. While retirement plans
are where you want to take a long-term view toward profits,
you do need to adjust to current market conditions and to change
your portfolio to suit your lifestyle, your age, your risk tolerance,
is King. In 2000, cash was the top-performing asset, and
with rising interest rates, you can ensure bond-like returns
with money markets (from interest), at no risk. If you haven't
applied the lessons learned in 2000 about not having all of
your eggs (retirement plan) in one basket (all mutual funds),
you are just as vulnerable today to a market downturn as you
and October. September is traditionally the worst performing
month of the year in the stock markets and October is the month
that can be the most challenging (the month of Black Monday,
the 1929 crash, etc.). Research your fave stocks now, but don't
be in a rush to buy, especially if the company is trading at
its 52-week high. It might pay to wait for a buying opportunity.
(No one has a crystal ball.)
It Pays to Pick a Good One. For tips on finding your perfect
partner, read the article online at www.NataliePace.com,
in the archives, Volume 2, issue 4. If you have more than
$100,000 in your retirement plan, you might qualify for professional
money management. Get recommendations from friends, or go to
the websites of IQTrends.com, BuyBackLetter.com and/or OdysseyAdvisors.com
for more information on professional money managers.
You'll notice that we've sealed in a number of our picks, and
kept open companies that are value-priced and/or still have
upside based upon being concentrated in favored sectors, like
energy, technology, biotechnology and metals (not metals manufacturing).
The companies that we report on in this column are for that
small percentage of "trading" in your portfolio, not for the
entire nest egg. This is the Michael Jordan part of your portfolio
that scores and scores and scores. Winning the game also means
diversifying and protecting. You definitely do not want to be
day trading with all of your retirement plan.
and Intermix Media, Inc. Fox Interactive Media, Inc. ("FIM"),
a subsidiary of News Corporation NWS,
completed their acquisition of Intermix and MySpace on 9.30.05.
For more information, read the article in this month's ezine.
- 14 BIG
WINNERS, which keeps us at #1 in Annualized Returns (according
to TipsTraders.com). This hot news article still has the proud
honor of featuring fourteen companies that have posted positive
gains, versus five that have gone south. Of the five that have
gone south, we are most concerned with Krispy Kreme and are
monitoring that distressed company closely. Turnarounds are
difficult to stomach, even the turnaround of the most popular
sweet on the planet. OSIP, IMCL and LVS - in our view, these
are all great companies with great products and/or leadership.
Sometimes it takes awhile for the rest of the investment world
to realize that. Jet Blue was taken off because airlines are
in disarray with high fuel costs. Love the airline, but this
is a sector in serious trouble.
NataliePace.com is providing you with news and important information,
but you need to consult your financial planner to determine your
best strategy for using the information. That will depend upon
your age, your retirement plan, your risk tolerance and portfolio
diversification. The stock portion of your portfolio is a higher
risk classification, where you ideally seek to gain higher returns.
As the NASD said in a recent investor alert, don't bet the farm
on the stock market. NataliePace.com is NOT a brokerage and doesn't operate
or act like one. We are an online media service with a mission
of providing the news and information you need to make better
choices in business, investing and personal prosperity.
I have listed the companies that I own under the column "NP OWNS?"
Investors who "never pay retail," note that highlighted stocks
are trading at their 52-week lows or near the price featured in
NataliePace.com's article. It may be a good buying opportunity. The companies
that are listed below which are not highlighted may not be in
a good buying range, but they (outside of KKD, which might be
a real dud) are poised to continue performing well. There are
never any guarantees in life, and all stocks are risk-based investments.
since original feature
Stock in a great sector. If your stomach is lined with steel,
this could be a fun, rewarding, high-risk bet.
this is only traded on the Toronto Exchange)
treatment and metals recovery for acid-contaminated water
in mining ind. BioteQ's customers include Breakwater Resources,
Falconbridge, and Phelps Dodge. According to the CEO, Brad
Marchant, Bioteq will help
PD recover 2 million pounds of copper per-year in Southern
AZ operations. This company is only trading on the Toronto
Stock Exchange's TSX. Anthony Kana, one of the founding
directors retired in June. Loss of $694,000, or 2 cents
per share, for 2Q 2005. Patent for nickel recovery is being
Global Investors Eastern Europe
vol. 2, issue 8
seems to be in the right countries, and, within those countries,
in the right, growing sectors. Easy to access information,
attention to detail on site, indicates attention to detail
2, issue 4
Corp. bought Intermix for $12/common share on 9.30.05. Investors
will receive cash for their shares.
volume 2, issue 6 for a feature article
at 52 week low.
approved $100 million in common stock buybacks during
the next two years.. The news for what Erbitux is doing
for ovarian cancer patients could hardly be more impressive.
2Q results were strong. Erbitux U.S. In-Market Quarterly
Sales Reached $97.8 Million, Up 12% Over the Prior Quarter,
and Up 37% Over the Second Quarter of 2004. Filed for FDA
approval to use Erbitux on head and neck cancer on 8.30.05.
turnaround mode. Trading at 5 year lows.
are many: SEC inquiry, layoffs, credit problems, delayed
financial filings, executive exodus and lawsuits. On the
positive front, KKD is showing up on LBO target lists for
having a low valuation to EBITDA. The former COO and CEO
are being blamed by a special committee for "managing earnings"
in 2003. Tough call. You might want to visit your grocery
store and see if the doughnuts are stale. I'm holding out
for the LBO sale. Earnings have been negative for the past
3 quarters and sales are down. Financials should be filed
now that the Special Committee has completed its report
and the turnaround specialists have agreed on compensation.
Vegas Sands Corp.
Vol. 2, Iss. 7
Venetian, Sands Macao
mover advantage in China's Vegas!!)`
Venetian, The Palazzo, The Sands Macao, The Venetian Macao.
97% occupancy rates at the Venetian. Sands Macao earned
enough to pay off debt in one year. 2Q Net revenue grew
to $398.8 million from $266.7 million a year ago. 3Q results
on 11.2.05. What's most exciting is the growth potential
of Macao and the Las Vegas Sands Corporation's presence
of two hotels on what is becoming China's Vegas. Go to LasVegasSands.com,
click on Investor Information and read the Global Gaming
Expo Presentation to see how fast growing and vast the Macao
1, iss. 55
is trading near 52-week high. Volatile sector. Great future.
and reconstructive products. Company raised 2005 guidance
by 15% on 4.25.05, and then raised guidance again on 7.25.05..
2Q earnings were outstanding. $22.7 M in revenue, compared
with $15.1M one year ago, and $3.6 million in net income,
compared to $1.0 million one year ago. Still appearing on
price fluctuations, but once Martha enters limelight, her
stock may shine.
Apprentice doesn't look like a hit, but Martha's daytime
show is getting good reviews. The magazine sold more than
100 pages of ads. Martha's Rules to be Published
in October 2005. Martha had her 1st revenue gains
in 10 quarters. 2Q 2005 revs were $46.0 million, compared
to $44.1 million one year ago. MSO is projecting a 3Q operating
loss of $25 million to $26 million and a 4Q operating loss
of $1 million to $2 million.
in mid-range. Growth company. Volatile share price.
connectivity for homeowners and small/med businesses. 2Q
Profit is up 70% this year over last, on net income of $8.3
million, or 25 cents per share, up from $4.9 million, or
15 cents per share.. Revenue increased 22 percent to $107.6
million from $88.4 million in the prior-year period. BusinessWeek
named NTGR as one of its100 Hot Growth Companies. Insiders
bought $2.07 M at the $18.78 share price. Typically that
is a good sign. Distribution with Digital China, with 6,000
resellers and agents in Asia's largest market should mean
2, iss. 10
this month in the article, "News Corp. Enters New Media."
issue 44. 1st featured Dec. 2002.
Company of the Year 2004 (archived edition 44). Director
Michael Ovitz purchased 3/4 of a million in May, at $4.90.
2Q earnings: Net revenue totaled $14.1 million for
the quarter ended July 31, 2005, up more than 60% from the
same quarter last year..
near 52-week low.
2005 Company of the Year 2005. Read vol. 1, iss. 56.
of Genentech (DNA) and Roche
review panel supported Tarceva for use with pancreatic patients
on 9.13.05, in 10:3 vote. FDA decision is expected by 11.2.05.
Genetic based "cancer pill." 1st and only of
its kind. FDA-Approved for lung cancer last November. Canadian
regulators approved Tarceva on 7.13.05. European approval
granted on 9.21. Switzerland approved Tarceva in March 2005.
CSFB raised OSI's Tarceva sales estimates for 2005 through
2008 to $282 million, $381 million, $413 million and $431million,
respectively. Investors didn't like the acquisition of Eyetech
Pharmaceuticals Inc. for $935 million in cash and stock
on Monday, 8.22.05, and the stock dropped 21 percent.
demand is huge; supply is limited; stock price is high.
RTP bought back 8.7% of stock as of 5.05, to the tune of
US$780 million, and plans to buyback up to $1.5 billion
in 2005 and 2006. Analysts say pressure on price should
continue on high demand in China and Asia. Increased its
dividend by 20 per cent. Finds, processes and mines minerals:
copper, iron, coke (from coal), aluminum, titanium dioxide
and diamonds. Rio Tinto has been added to Jim Juback's 50
Best Stocks in the World List (eff. 9.05). Great press usually
means more buyers. Hang on.
feature company, in the "You Can Do Better Than Baidu" article.
Financial Times ranked Sohu in Top 10 Chinese Global Corporate
Brands on 9.6.05. (6 days after our article.) Also, appearing
as a Chinese IT play with all the hoopla over Baidu.
vol. 1, issue. 51
you bought at $34.50!
stock split on 8.1.05
down its LaPorte and Bayport, TX polypropylene facilities
and evacuated all its non-essential personnel in TX on 9.22,
due to Hurricane Rita. No update yet. Oil should remain
strong, while supply is constrained and demand is outrageous.
The Sunoco board also approved the buyback of $500 million
shares, bringing the repurchase option to $674 million.
Shares have been reduced by 23% over the last 5 years. Added
to Schaeffer's S&P 500 Index Hot Stocks on 9.12.05.
Rowe Price Em Eur & Mediterranean
Vol. 2, iss. 8
Rowe Price Em Eur & Mediterranean Fund.
2, iss. 9
2005 earnings report on Wednesday, October 19th. Repurchased
9 million shares for value of $215 million. Revenue shortfall
in the mobile content area means that revenue is below guidance,
while earnings are in line. May take a hit for the miss
2, iss. 10
this month in the article, "News Corp. Enters New Media."
in Profit-Taking Range. Note: We may still like these companies
(as we do Genentech and Google) for the long term as companies,
but are taking profits before sell-out September and/or bewitching
October. We may look to add some of these great companies again,
if the price point should become attractive. In a market of modest
gains but high volatility, profits are made in shorter windows.
vol. 1, issue 52
Buy reported weaker PC sales this Q. Weaker end-unit sales
may start affecting chip orders. Very high Price to Earnings
ratio. Competitive marketplace.
is at 52-week low.
largest air carriers are in bankruptcy, and Jet Blue is
one of the few profitable carriers. However, investors know
that fuel prices are going to continue to hurt earnings
and that investor dollars will continue to avoid this ailing
sector. Travelers love their new jets, entertainment, staff
& prices. Fly it, don't buy it.
Vol. 2, issue 2
could see great gains in the last quarter, with Stern starting
to air in January 2006. However, this may be one company
to experience quick losses if investors get spooked about
Katrina, interest rates, inflation, etc. Keeping this on
the radar for a better buy-in rate. Missed Wall St. 2005
estimates. 2Q loss was $177.5 mm, on $52 mm revenue. Free
cash flow projected for 4Q 2006 or 2007.
Trading 75% beneath March 2000 high. Sony sales are double
market cap, $69.7 B to
Times reviewer gushed over the new HD camcorder, though
it isn't cheap at $1,750. Over 3.5 million PS Portables
sold in Japan and US since Dec. PS3 to be released in Spring
2006. Upcoming films include: Rent (11.05) and the Da Vinci
Code (5.06). Cutting 10,000 jobs. Co. reported on 9.20.05
that Fiscal Year (3.06) will reflect a loss of $89 mm rather
than the planned $89 mm. Love the products. Corporate HQ
is still reeling.
Micro Devices closed out 8.15.05 at $20.85, with 74.3% gains.
closed out at $80.92, with 328% gains. (Current price: $84.21)
Google closed out at $292.72, with 193% gains. (current price
Pixar closed out at $51.67, with 21% gains. (current price $44.51)
NataliePace.com does not act or operate like a broker. We are a media
and information center. This article is intended to provide current
news, and, thus, to give investors a competitive edge in their
personal decision-making. The publicly traded companies mentioned
in this article are not intended to be buy or sell recommendations.
ALWAYS do your research and/or consult an experienced, reputable
financial professional before buying or selling any stock.
Katrina: Rebuilding Lives For the Homeless.
Single Mothers House-sharing
mothers who have lost housing in New Orleans and the Gulf States
region are encouraged to sign up to CoAbode.org's
mom-matching service. There is no cost to register, and
the evacuee can begin searching immediately for a family in an
area of their choice (by city or zip code). There is a free
link on the home page of CoAbode.org's web site. Please
forward this information to any person or organization that might
use this benefit. CoAbode.org encourages the continued outpouring
of support and is helping people to organize local help for the
displaced families of New Orleans and the Gulf States regions
who were wiped out by Hurricane Katrina.
heart and your giving fund for the amount that feels right to
you and know that each dollar you donate to CoAbode.org
is tax deductible, and will be directed toward assisting the Hurricane
Katrina evacuees in finding housing. Also, please forward this
email to others who would be interested in supporting a non-profit
organization that assists struggling (many times impoverished)
families, where single women are raising children on their own,
as is the case with so many of those who have been forced to leave
Miss NataliePace.com's online chat with Paul Woods, a gala with Hillary
Rodham Clinton and the California State of the State Conference.
calendar features Networking Luncheons, Conferences, Galas, Chats,
Teleclasses and other special opportunities! Check out what's
happening online at the Calendar section of the NataliePace.com web
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radio, television and print partners.
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across all media (television, radio, print and online).
MISSION: To provide the news, information and education investors
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