An Important Inflection Point?

The bulls have clearly stated their positive outlook for the balance of the year and are making next years early positive call too...the bears are winning..they see more continued declines in all key metrics...regardless of the election cycle.

One thing for sure is that the cash and bond weightings are beginning to really sting...much less short positions....thus the dramtic industry wide under performance.

Stock buy backs continue to surge as well as increased dividend pay outs...probably the biggest metric so much under appreciated is the room for further dividend increases. The "total return" approach to value investing rarely has been more important....or will be rewarding.

Material research from Citi suggests SA will be an oil importer by 2030. Do you think that is priced into the market?

Cell/ "I" phones have peaked..there are now as many phones as people on the planet outstanding....and many of the folks who signed up for the contracts to own the phones can't afford them in the higher income tax rate environment starting 1/1/13.

Incredibly nearly 25% of Americans ages 25 to 55 are not employed, the highest percentage in 30 years....reports the WSJ. "Hope" is getting old and is not a policy. Kennedy said, the worst deficits come from a recession......and higher taxes...the left still can't get it right.

China was Australia's biggest customer last year accounting for 27.4% of Australia's exports.

It seems to us that the equity markets are rotating back into value...away from over priced "growth" and are taking a well over due look at emerging markets again after a multi year rest. A positive. It is easy to remain relatively bullish when the crowd(s) remain so bearish...the wall of worry continues. Yield chasers need to be careful.

The Daily Caller reports the taxpayers spent $1.4 billion on the current prez's family and staff in the last year.....vs. $57 million on the royal family in Briton and a full 50% higher than the last American prez.....if that does not give you pause..what will?

Danny Boy seen here has already voted.