OBGibby's Account Talk

[OBGibby]

ABC News


Lotto Winner Arrested for Welfare Fraud



"Amanda Clayton, who admitted to receiving public food assistance after winning $1 million in the state lotto, was arrested Monday evening in Michigan on two felony counts of welfare fraud. Clayton, of Lincoln Park, Mich., failed to report her winnings and employment while receiving $5,475 in food and medical assistance, the state Attorney General said....."

Michigan $1 Million Lotto Winner Arrested on Welfare Fraud - ABC News

 

[Birchtree]

I've never bought a loto ticket in my life since I'm not a gambler.

 

[OBGibby]

I've never bought a loto ticket in my life since I'm not a gambler.

I play a few times a year when the jackpot is large. Usually I stick to the basics with my money: whiskey, fast cars and fast women. Anything left over, I waste...

 

[ILoveTDs]

I play a few times a year when the jackpot is large. Usually I stick to the basics with my money: whiskey, fast cars and fast women. Anything left over, I waste...

I'm with you OB, it's just not worth my dollar unless the jackpot is over $300 million. I don't know who people would live on anything less

 

[OBGibby]

The High Cost Of Seeking Alpha - James Picerno, The Capital Spectator

 

[OBGibby]

http://www.bloomberg.com/news/2012-03-13/for-workers-sake-reinvent-the-ownership-society-clive-crook.html

Crook: U.S. Retirees Face a Private-Savings Crisis

 

[OBGibby]

The Leading Indicators of Stock Market Top - Mark Hulbert, MarketWatch

"The financial sector’s recent strong performance makes it unlikely the bull
market is close to a top....."

 

[OBGibby]

Sounds like a pretty good racket to me!

Chesapeake CEO's $1.1 Billion in
Loans Raise Questions (CNBC)

http://www.cnbc.com/id/47084021

 

[OBGibby]

Thiel Says Market Returns May Sour Young Investors on Stocks

Poor market returns over the past decade may sour younger clients on equities, said Bank of America Corp. (BAC)’s John Thiel.

“We’re at risk of losing an entire generation as investors,” said Thiel, who heads U.S. wealth management and the private banking and investment group at Bank of America’sMerrill Lynch unit. “They’ve been through 10 years of not-so-sterling results.”

Thiel Says Market Returns May Sour Young Investors on Stocks - Bloomberg

 

[OBGibby]

Here Comes The Bear Market In Bonds - Amy Feldman, Fortune


".....Over the next three to five years, I expect rates to move up significantly [which means bond prices will drop].....We expect the overhang in housing to be cleaned up by 2015. At that point the Fed will realize that inflation is becoming a problem and will begin to raise rates, and that'll be the beginning of the generational bear market....."

 

[OBGibby]

"The thing I hate most about taxes is that the more money they
take, the more government we get. It's the worst possible trade off imaginable."
--humorist Frank J. Fleming

 

[OBGibby]

Lawmakers consider changing tax breaks on retirement savings
(Washington Post)

Painful trade-offs of tax reform in focus as lawmakers began to look at specific breaks to cut or change.

 

[OBGibby]

Sell In May? 9 Trillion Reasons to Say NO! - David Kotok, Cumberland Adv.

".....Under these circumstances, we believe ‘sell in May and go away’ will prove incorrect this time. With worldwide monetary policy so stimulative, stock prices have an upward bias. We believe that they will continue to have an upward bias as long as this policy continues to be expansive. We expect that to be the case for many more months and perhaps several more years....."

 

[OBGibby]

Nothing Left to Cut! California Spends $205,000 to Move $15 Shrub. (4.16)

Hey, when it's other people's money...A billion here, a billion there, pretty soon you're talking real money!

 

[OBGibby]

Goldman’s Abby Cohen Says Stocks Will Outperform Bonds


"Abby Joseph Cohen, senior U.S. investment strategist at Goldman Sachs Group Inc., said equities will give better returns than bonds in the mid-to-long term as companies look to emerging markets for growth....."

 

[OBGibby]

‘He Enjoyed Booze, Guns, Cars, and Younger Women Until the Day He Died’: Unrepentant Obituary Deemed ‘Best Ever’


(Photo: Denver Post)

 

[OBGibby]

The Cost of Bad Buy/Sell Decisions (Visual News)

"Despite popular Hollywood portrayals of how investing works — a smart suit and someone with the last name Sheen or Douglas usually does the trick — research shows that most of us still try to time the market, typically resulting in buying high and selling low. No one likes being told they’re wrong or that they don’t have a grasp on the situation, but this graphic could be helpful in examining why many of our buy/sell decisions are wrong....."

 

[OBGibby]

Everyone Is Ready to Call a Market Top, But It's Not Here Yet

(Barron's)

 

[OBGibby]

Why I'm Raising My S&P 500 Fair Market Value - Doug Kass, TheStreet

 

[Birchtree]

Let's just hope he holds to his positions awhile with conviction.