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May 4, 2012

MarketWatch | Strategies, news, analysis for financial advisers

By MarketWatch
Don’t miss these top stories:
John Campbell, chairman of Harvard’s Economics Dept., thinks U.S. stocks are at most only slightly expensive, Mark Hulbert writes. Furthermore, Campbell says, stocks may be justified in being priced at slightly above-average valuations. That’s because there appears to be no good alternatives.
Meanwhile, writes Robert Powell, corporate profit margins, despite what some say is the weakest economic recovery in postwar history, are at freakish record highs. And that can only mean one thing, according to investment professionals: A reversion to the mean.
Check out these columns and more in this spring edition of MarketWatch Adviser Weekly.
Anne Stanley , Managing Editor

You’re invited: MarketWatch ETF event

If you’re in the San Francisco Bay Area and you’re interested in exchange-traded funds, we’d like to invited you to a free live event in April. Join us for an evening of cocktails and conversation about the risks and opportunities of trading ETFs. Our guest panelists will be Tom Lydon, president of Global Trends Investments and editor of; John Nyaradi, publisher of Wall Street Sector Selector; and Jim Wiandt, publisher and chief executive of, Exchange-Traded Funds Report and Journal of Indexes. The event will be on the evening of Tuesday, April 17, in downtown San Francisco. To get more details and RSVP, send an email to by Tuesday, April 10.

Stocks only slightly expensive

U.S. equities are at most only moderately expensive — despite having risen nearly 30% just since last October and more than doubled over the last three years. That is the surprising judgment of one of academia’s leading experts on stocks’ valuation, reports Mark Hulbert.
Mark Hulbert

Latin American stocks surging?

A letter with an unusual regional specialty starts with a bang. Peter Brimelow asks whether it’s a flash in the pan or the first step in a 1,000-mile journey.
Peter Brimelow

Microsoft’s tablet strategy could challenge Apple

Windows 8 is a radically redesigned operating system that is intended to be dual-purpose, working equally well on portable touchscreen devices and on workhorse desktop PCS that use a keyboard and mouse.
Carol Kopp

JOBS Act benefits financial criminals

If the Jumpstart Our Business Startups (JOBS) Act becomes law, the big increase in employment most likely will come in the investment scam business, writes Chuck Jaffe.
Chuck Jaffe

Nasdaq, S&P confirm the 2012 uptrend

The Nasdaq Composite and the Standard & Poor’s 500 Index have both notched multiyear highs, and now face limited immediate technical resistance.
Michael Ashbaugh

Most tax-friendly states for retirees

Is the state that you have designs on retiring to tax friendly or not? And the basic questions to answer are these: How does the state tax your income? How does it tax your property and your consumption? And what’s the overall tax burden?
Robert Powell

Why investors should fear corporate profit margins

Corporate profit margins, despite the weakest economic recovery in postwar history, are at freakish record highs. That should scare investors.
Robert Powell

Financial Glossary

Words used in this article:

MarketWatch | Personal Financial Daily: Kentucky Derbv an investor’s dream that few live

By MarketWatch 

Don’t miss these top stories:
When the Kentucky Derby is run Saturday, only 20 horses will enter the starting gate. But hundreds of owners will be cheering them on thanks to myriad partnership structures. But, Jennifer Waters writes in our SportsWatch column today, investing in a racehorse is a risky bet that you wouldn’t want to stake your retirement or much of anything else on — except maybe immeasurable merriment, race horse owners say.
Also on MarketWatch today, we have a preview of the weekend’s other big sporting event: Berkshire Hathaway’s annual shareholder meeting in Omaha, Neb. Questions about Warren Buffett’s health and the company’s succession plans are likely to dominate.
Anne Stanley , Managing Editor, Personal Finance

Kentucky Derby an investor’s dream that few live

Thinking of investing in a race horse that will take you to the Kentucky Derby? Don’t stake your retirement on it; there are far more losers than winners in horse racing.
Read more: Kentucky Derbv an investor’s dream that few live.

When your mortgage servicer changes

The typical mortgage loan may be sold two, three or even four times to other lenders. Here’s what to watch for.
Read more: When your mortgage servicer changes.

10 most versatile cars under $20,000

Are you cheap but demanding? Good for you. You want a car with great mileage, but also safety and versatility. This week, NADAguides, from the National Automobile Dealers Association, announces its top 10 picks for the most versatile cars under $20,000.
Read more: 10 most versatile cars under $20,000.

Tire-pressure monitoring systems not precise

While tire-pressure monitoring systems are great safety aids, they may allow tire pressure to fall 25% below the recommended level before giving a warning, and some tire experts say such a loss is too great.
Read more: Tire-pressure monitoring systems not precise.

Financial Glossary

Words used in this article:

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NYT Global Update: New Jobs Slow; Unemployment Drops as Work Force Shrinks

Global Update


New Jobs Slow; Unemployment Drops as Work Force Shrinks

The United States had another month of mediocre job growth, adding only 115,000 positions, and the unemployment rate fell entirely because workers left the labor force.

Nascent Deal Would Let Dissident From China Study in U.S.

Chinese officials will allow Chen Guangcheng to apply to study abroad, American officials said, but Secretary of State Hillary Rodham Clinton cautioned that his case was not yet resolved.

CERN Scientist Sentenced to 5 Years in French Terrorism Case

Adlène Hicheur, a Franco-Algerian particle physicist, was arrested in October 2009 over his correspondence with an affiliate of Al Qaeda.

Video: TimesCast

The Op-Ed columnist Nicholas D. Kristof discusses the case of Chen Guangcheng; and more.

Op-Ed Contributor

Syria's Threatened Minorities

Many of Syria's ruling Alawites and their fellow minorities feel caught in a vicious zero-sum game.

Dissident's Plea for Protection From China Deepens Crisis

Facing criticism amid fraying relations with China, American officials privately acknowledged missteps in the handling of the Chinese dissident Chen Guangcheng.

For Chinese, a Man in the News Is Much Discussed, if Not by Name

Chinese citizens have had to tread carefully in discussing Chen Guangcheng, the dissident who sought refuge at the United States Embassy.

U.S. Stresses Concessions From China

For the first time, according to senior American officials, Chinese policy makers said they would commit to removing advantageous financing and regulatory conditions to state-owned enterprises.

A Band of Contrarians, Bullish on Greece

Several banks and hedge funds are buying Greek bonds, betting that the nation will remain in the euro zone and that bondholders won't take a haircut in a new debt deal.

China Agrees to Measures to Ease Trade

Among the "breakthroughs" coming out of annual talks was an agreement by Beijing to remove subsidies that favor state-owned companies, a U.S. official said.

Stocks Down on Jobs Report

Wall Street's decline followed the gloomy trend set in markets in Europe, where a report suggested that Europe's economy contracted at an accelerating pace last month.

Small Investors May Get to Own a Bit of Facebook

While shares of the hottest initial public offerings go almost entirely to Wall Street banks that oversee the stock sale, Facebook has discussed raising the number of shares that will go to retail investors.

Third Point Demands Yahoo C.E.O. Be Fired by Monday

Third Point called for the dismissal of the technology company's chief executive, Scott Thompson, after revealing that the Yahoo leader had inaccurately stated his academic credentials.
Bits Blog

Taking E-Mail Vacations Can Reduce Stress

A study found that people who do not look at e-mail on a regular basis at work are less stressed about their daily tasks and are more productive.

Some Like It Hot

Would you sign up for a 250-kilometer race through the Sahara?

Batsman Offers New Dimension to Twenty20 Matches

Ajinkya Rahane approaches the fast-paced cricket format with a patience and subtle form usually reserved for more traditional test matches.

Liverpool and Chelsea to Square Off in Wembley

Both teams are looking for a victory in the F.A. Cup final as a way of salvaging seasons that did not live up to lofty expectations.

U.S. Announces Compromise on Fracking Disclosure

Companies drilling on public lands must now identify the chemicals used. But in a concession to the industry, they do not have to make the disclosure until after drilling has begun.

Trying to Prove 9/11 Case, and a Tribunal's Fairness

The United States is restarting its effort to try Khalid Shaikh Mohammed and four others at Guantánamo Bay.

A Protest Group's Name Change Stirs Some Debate

The biggest group planning demonstrations at the Democratic National Convention is now called the Coalition to March on Wall Street South - Building People's Power at the DNC.
Patrick Chappatte

Chen Guangcheng

The Chinese dissident Chen Guangcheng escaped house arrest, found protection at the American Embassy in Beijing, and then left after talks with the Chinese government. He later changed his position and wanted to leave China, a senior Obama adminstration official said Thursday.
Op-Ed Contributor

Austerity Is Strangling Europe

We can survive between the centers of power - the United States and China - if we continue the path to integration.
Op-Ed Contributor

Will France Turn North, or Go South?

The direction France takes now will be decisive for the European Union and the world economy.

CBS NEWS | Political Hotsheet Top Stories: Republicans gladly take on #Julia


A media frenzy followed the after the unveiling of the Obama campaign's "The Life of Julia"
Read full story
Republicans gladly take on #Julia

Hotsheet Live: What do the unemployment numbers mean for Obama? April jobs report shows unemployment is down to 8.1 percent

Activist attacks Romney aide via Twitter Iowa radio host upset about aide's comment about "voices of intolerance"

Republicans hammer Obama over April job numbers Romney calls jobs report "very, very disappointing"; Obama administration says "economy is continuing to heal"

Primary prospects for senior senator look grim Indiana's Dick Lugar is trailing his conservative primary challenger Richard Mourdock by 10 points in a new poll

NYT Afternoon Business News: New Gloom on Jobs, but It May Not Last


New Gloom on Jobs, but It May Not Last

It's tempting to look at Friday's weak jobs report and conclude that the economy has entered a significant new slowdown. But it may not be correct.

Stocks Down on Jobs Report

Wall Street's decline followed the gloomy trend set in markets in Europe, where a report suggested that Europe's economy contracted at an accelerating pace last month.
Off the Charts

Government Getting Smaller in the U.S.

The size of local, state and federal governments has declined in the first three years of the Obama administration, a feat unseen in 40 years.
Your Money

How to Raise a Financial Wizard

Several young authors of financial advice books say they were taught at an early age to be mindful about money.

A Band of Contrarians, Bullish on Greece

Several banks and hedge funds are buying Greek bonds, betting that the nation will remain in the euro zone and that bondholders won't take a haircut in a new debt deal.

DealBook | DealB%k Afternoon Edition: Third Point Demands Yahoo C.E.O. Be Fired by Monday

Friday, May 4, 2012
Third Point Demands Yahoo C.E.O. Be Fired by Monday Third Point called for the dismissal of the technology company's chief executive, Scott Thompson, after revealing that the Yahoo leader had inaccurately stated his academic credentials.
What Corporate Governance Experts Are Saying About Yahoo's Chief DealBook surveyed a number of corporate governance experts about the imbroglio engulfing Yahoo's chief executive, Scott Thompson. The general consensus: It's a serious matter.
Flying the Facebook Flag JPMorgan Chase, one of the underwriters for the social network's initial public offering, decked out its headquarters at 270 Park Avenue in Manhattan with Facebook paraphernalia in anticipation of a visit from company management.
Conrad Black Is Freed Conrad Black, the fallen newspaper baron, was released from a federal prison in Miami on Friday, according to news reports.
Digging Deeper Into Green Mountain's Profits A recent stock drop suggests investors have concerns other than a slower growth rate. One area of worry is whether Green Mountain is using accounting maneuvers to make its profit look stronger.
Ignoring the Real Money in the Bank of America Lawsuits The focus following Bank of America's acquisition of Merrill Lynch has been on the lawsuit by shareholders. But another federal securities lawsuit out there is where the real money is.
Bids for the London Metal Exchange Due Monday Bidders have until Monday to make an offer, but the member firms that own the exchange could face increases in trading fees if the exchange is sold and may band together to block a proposed deal.
Royal Bank of Scotland Records Strong First-Quarter Results The British bank said its operating profit rose 4 percent to $1.9 billion in the first three months of this year, as the nationalized firm was close to repaying all its government-backed emergency loans.
BNP Paribas Profit Rises 10% in First Quarter France's largest bank reported nearly a 10 percent rise in its net income to $3.8 billion in the first three months of the year, helped by the sale of a real estate business.
DealBook Video
Business Day Live: Owning a Bit of Facebook Frenzied interest in Facebook's pending market debut; Dean Maki of Barclays looks at employment numbers; and James B. Stewart on the decline and fall of Dewey & LeBoeuf.

Stocks and Markets in the News | Corporate Shares: Apple shares fall almost 3% for worst week of year

 By Rex Crum

SAN FRANCISCO (MarketWatch) -- Apple Inc. AAPL -2.85% shares on Friday fell $16.57, or almost 3%, to close the week at $565.25. Apple ended the week with a loss of more than 6%, making for losses in three of the past four weeks. It was also's Apple's worst week since the week ending Oct. 21, 2011. Apple's shares are also down more than 12% since the stock hit an all-time high of $644 a share on April 10. 

THE FIX: Obama's time grows short on the economy: The Washington Post | Politics Afternoon Edition.

The Washington Post
Politics Afternoon Edition


  1. THE FIX: Obama's time grows short on the economy

    The president has less time than you might think to convince people the economy is getting better.
    » Read full article
  2. Steep decline in voter registration among Hispanics and blacks

    Number has fallen sharply since 2008, posing a serious challenge to the Obama campaign in an election that could turn on the participation of minority voters.
    » Read full article
  3. Romney defends gay staffer who resigned

    Romney addressed for the first time Friday the resignation of an openly gay campaign staffer, saying foreign policy spokesman Richard Grenell was "capable" and "very accomplished" and that he wanted Grenell to stay in his job.
    » Read full article
  4. FACT CHECKER: Does Romney love outsourcing?

    The Obama camp fires back at a Four Pinocchio ad by claiming Romney has an affinity for outsourcing jobs.
    » Read full article
  5. Obama to officially kick off reelection bid with Saturday rallies

    Saturday's events may mark a "kick off" of sorts, but it's worth bearing in mind that in the run-up, the Obama campaign hasn't exactly been sitting around twiddling its thumbs.
    » Read full article


Bryan Huffman, interior designer for Rachel 'Bunny' Mellon on Mellon's reaction to John Edwards' request for $40 to $50 million for a poverty foundation:
"She was rather apoplectic at the size of the figure they requested. She was really upset. She said, 'I cannot believe that the senator really wanted me for my money all along.'"


The Fix's Chris Cillizza was online at 11 a.m. ET to discuss the latest political news:
Q: As I understand it, if Lugar loses on Tuesday, he can't run as an independent, correct? If Lugar does lose, what kind of shot does Rep. Donnelly have against Mourdock?
Chris Cillizza:
Given the new poll in Indiana that has Lugar down 10, I think it's more a question of "when" Lugar loses not "if". I am a bit skeptical that this is a repeat of Delaware in 2010. Mourdock is a conservative but he's also a statewide elected official who has a much longer resume as a serious candidate than Christine O'Donnell. If Lugar wins the primary, Democrats have no chance. if Mourdock wins, they have some chance. But I don't think it's a great chance. Here's that poll I mentioned above:
» View full Q&A session


Trail Mix video.
Video: The big impact of Ron Paul's small wins
The Washington Post's Felicia Sonmez explains how Ron Paul's efforts to win over delegates may have a big impact on the Republican National Convention.

CMI | New York Spot Prices at Close

CMI Gold & Silver

  Today Change Week Ago Month Ago Year Ago
Gold $1,645.40 +$11.10 $1,664.80 $1,614.60 $1,514.90
Silver $30.44 +$0.42 $31.41 $31.06 $39.41
Platinum $1,539.00 +$3.70 $1,578.90 $1,601.60 $1,828.20
Palladium $656.50 -$7.60 $683.90 $634.50 $749.75

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