My Portfolio Trading Activity: Long Yen. Covering Russell Rebalance Trade

Closed out more of the Russell Rebalance Trade from June 30. Except for residual positions in Las Vegas Sands (LVS) and Warner Music Group (WMG) I have closed out all my positions.Sold HPQSold AMAT (Applied Materials is starting to look cheap and is THE leader in its field. I'm looking for an entry point soon)Sold AIGBought back second 1/3 of LVSBought 1/3 of WMGIn addition to the above stock trades I also increased my long Japanese Yen/Short USD position (AT 114.. Right now, the interest rates set by the Central Bank in Japan are nearly zero...

Click to read more ...

LQD vs. TIP: Corporate Fixed Bonds vs. Inflation Indexed Securities

The alert popups have been going off all day for New 52 week lows on LQD...

Click to read more ...

Wal-mart and Socially Responsible Investing

Brian White at Blogging Stocks has been writing and eliciting copious comments on Wal-Mart (WMT) and social responsibility. I applaud the fact that the pressure to behave in a responsible way is having any influence on a company like Wal-Mart in the first place. It's a great sign. Only retailers with consumer brands to protect can lead the way in responsible behavior. I remember talking to the folks at Rain forest Action Network and how much trouble they had convincing Boise Cascade (private company) to stop cutting down old growth forests.

Click to read more ...

Off to Northern Vermont to Train Camp Counselors at Coutts-Moriarty

I'm off to Coutts-Moriarty Summer Camp for Chin Derby, Vermont for the rest of the week. During my 2002 sabatical from Morgan Stanley London I volunteered as the camp Resident Director. Basically, I worked managing the counselors (mostly 16-20 year olds), dealing with parents, breaking up fights, teaching the leadership program, running sick kids to the doctor, being the fill-in nurse, gaving emotional support to the camp director, reading contracts and about a hundred other jobs that were rewarding to no end. Every year since then I have supported the camp financially as well as worked during ...

Click to read more ...

July 5th Trades: TIP, NZT, Natural Gas, Russell Rebalance

I thought we's see more follow through on Thursday's rally as markets moved to the upside from beginning of quarter buying augmented the post Fed interest rate hike and economic commentary announcement from last Thursday. I seem to be wrong so far. Today I added to my iShares Treasury Inflation Index ETF (TIP) at $98.26. I bought these with the proceeds of some fixed rate treasury bonds that matured. I just don't think regular fixed rate treasuries offer enough yield at just over 5% to compensate me for inflation risk.I've been writing about NZT so ...

Click to read more ...

New Zealand Telecom

Monday July 3rd is a day when not much will happen in the US market. Even my post Russell Rebalance trades will have to stay pat until later in the week or next week. Instead I look at New Zealand. New Zealand Telecom (NYSE symbol: NZT) has been beaten up lately because the New Zealand Government is out to break NZT monopoly and create a more competative market for telecom services. What is good for the consumer and business activity may be bad for the NZT. But NZT, to their credit, is not standing still. ...

Click to read more ...

Busy Trading Day. Russell Index Rebalance

Exceedingly busy day:Woke up early to finish my research and planning for the Russell Index Rebalance Day.Had a friend/designer come to get started on a remodel my bedroom in the City.Sadly watched Argentina lose to Germany in the quarter final of the World CupBroke a record today for most personal trades...

Click to read more ...

FED Raises as Expected: Frenzy After and Anticipate Economic Event Means Follow Through.

Before a widely anticipated event (like today's FOMC 25bp rate rise and economic statement) traders typically reduce speculative positions and delay decisions. Big market moves after a completely anticipated event usually mean there will be follow-through. Today for example, traders and portfolio managers held money in cash until AFTER they saw if there were any surprises. When there were none (I don't think they Fed statement should come as a surprise) they had to put that money back to work in the market. The fact that the markets were up so ...

Click to read more ...

Some Wisdom from an Anglo-Southerner

No trades today. (Getting ready for a BBQ).I'm happy with my positions ahead of the Fed FOMC meeting tomorrow. I am staying short bonds at 3/4 position. Tomorrow will really invert the curve if the ten year yields don't go up to match the short term rate increase. Maybe not right away, but I think that will move people out of longer term bonds (making yields go up and bond prices fall).I leave you with this piece of Wisdom that my friend Allan Heye , a good North Carolina Boy living in London for the last 12 ...

Click to read more ...

Hurray for Buffett and Gates

See New York Times: A $31 Billion Gift Between Friends.Hurray for Buffett and Gates who disdain inherited wealth.Hurray for Buffett and Gates who believe that being lucky with talent implies a responsibility to the world.Hurray for Buffett and Gates who have dedication and fascination with their marriages and wives.Hurray for Buffett and Gates who make big audacious proclamations and back them up with actions.Now, there are lots of ways to criticize the Bill and Melinda Gates Foundation for how or to whom they are giving money. And I hear people do it all the time. But they have ...

Click to read more ...