The summer months, June, July and August, are the fastest months of the year as far as I am concerned. It is now already the last week of July and by the time I turn around it will be September. I love hot weather. Even as a little boy, I hated a cold summer day because I could not go swimming. Time maybe relative, but my favorite three months go by in a week.
The Dow, Dow Jones Industrial Index, went over 9,000 last week and it only brings us back to January of this year. Yes, earnings of some corporations are going to start turning around, while with some the red ink is drying up, others, the black ink is just getting uncorked. For years I have heard that the stock market anticipates future earnings. We are talking EPS (earnings per share). But what do we really know about how a large corporation manages their earnings? I watched as a stock I own fell like a rock from their own office tower in downtown Cincinnati. Now as it starts its way back up, I wonder how the growth of those earnings will be managed, or whether the earnings will be permitted to show through. There are more than a few tricks for management to manage earnings. I guess I will just wait and see.
I have not read enough about the new legislation to protect consumers and investors; however, I am interested in seeing what actually is put into law.
Stay tuned.
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4 comments:
I will, Fred. I will stay tuned.
My sainted mother-in-law used to say that "After 4th of July comes Hanukkah, and after Hanukka comes 4th of July." If we could just slow down the Earth's rotation during summertime, wouldn't life be grand?
You are motivating me to look stuff up! I took the trouble to read an outline of the proposed legislation that would strengthen the SEC's authority to protect investors. (Apprently what they already have needs help!)
One of the interesting proposals would authorize the SEC to "gather information, communicate with invetors and engage in such temporary or experimental programs as the SEC determines are in the public interest or for the protection of investors." Let the classes begin! If they could really pull off a decent educational program for the great unwashed masses of financially ignorant workers (like me), that would be a good thing. You think?
Would they actually do it? Hummmm.
Another interesting provision is to establish a Whistleblower Award Program and expand protection for whistleblowers. Of course, they will only get their commission if the sanctions exceed $1 Million. I guess in this day and age, anything less than a million dollars in fines isn't worth pursuing.
There are, of course, a number of other important-sounding proposals, but all-in-all, it looks like a way to provide more employment opportunities for financial/securities types. You know -- the way new tax laws provide more employment for accountants and lawyers.
What happened to "simplify?"
Summer
I feel the same way about Summer, it should last much much longer. And then it would still be too short.
It is nice to know that there are others that feel the same way you do. I wish I could go to Australia for three months, like January, February and March.
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