|
|
2-18-2010
Saturday I will be in Manhattan Kansas judging an ethical case study competition between several universities with students in free enterprise chapters (SIFE). ConocoPhillips has generously funded this worthy project. It is a shame that oil companies are demonized and never recognized for the good that they do.
I applaud the Federal Reserve’s decision to start raising interest rates 1/2 point, something I recently advocated, but did not really expect so soon. Although this may temporarily knock down the market a peg or two, it is a necessary step to head off future inflation. It is the right move to maintain the overall health of the economy. It also bolsters the Fed's credibility, and shows it is relatively independent despite political pressures.
Industrial production rose 0.9% in January its seventh straight gain. Manufacturing was up 1%.Capacity utilization climbed to 72.6%.Although this data is encouraging, this recovery still seems agonizingly glacial. We could certainly use some "financial" global warming.
Although stocks are not screaming buys, they are reasonably priced, selling at 13.8 times estimated 2010 earnings.
“If the Golden Rule is to be preached at all in these modern days, when so much of our life is devoted to business, it must be preached specially in its application to the conduct of business.”
F.S. Schenck
“Health enough to make work a pleasure. Wealth enough to supports your needs. Strength to battle with difficulties and overcome them. Grace enough to confess your sins and forsake them. Patience enough to toil until some good is accomplished. Charity enough to see some good in your neighbor. Love enough to move you to be useful and helpful to others. Faith enough to make real the things of God. Hope enough to remove all anxious fears concerning the future.”
Goethe
Joe Kain & Marcus Kain
|
All information contained herein is for informational purposes
only and does not constitute a solicitation or an offer to sell
securities. Such an offer can only be made in states where the
investment advisor is registered. Further, it should not be assumed
that recommendations made will be profitable or will equal past
performance. Past performance is no guarantee of future returns.
Neither Sunflower Asset Management, Inc. nor any of its employees
shall be held liable in any manner for losses of any kind. The firm,
its officers, directors, employees and clients may or may not have
a position long or short in stock mentioned.
|
