<p>And …</p>
<p>[Hedge</a> Fund Titan Plans to Return $2 Billion to Investors - US Business News - CNBC](<a href=“http://www.cnbc.com/id/48440292]Hedge”>Hedge Fund Titan Plans to Return $2 Billion to Investors)</p>
<p>Finally my NOK gamble paid off.</p>
<p>More reasons why the retail investor can’t trust the casino at Wall Street…</p>
<p>So Bill Gross of Pimco is likening the stock market to a Ponzi scheme…hmmm ,perhaps he read an earlier post i made on this thread in APRIL. ;)</p>
<p>“Dstark, i am usually market psoitive, but with the Fed manipulations,it is all BS…This will go down as the largest Ponzi scheme ever”</p>
<p>Keeping rates low until late 2014… Give me a J…(J)… Give me an A…(A)… Give me a P…(P)… Give me…you get my drift</p>
<p>You don’t have to explain to me…I have been negative on the stock market most of the time for 11 years.</p>
<p>I missed Bill Gross’ comments.</p>
<p>I should say, just to be more accurate…negative or neutral most of the last 11 to 12 years…
Not that it matters…</p>
<p>More progress between the House and Senate on the Fiscal Cliff in an article that I will not link to because it is in the politics section of the NY Times. But you can go find it yourself if you want to. There are issues and other things but people are talking to each other and working on bipartisan bits and pieces and maybe they’ll get something big accomplished.</p>
<p>Poitics section or opinion section? Couldn’t find anything in the politics section.</p>
<p>interesting:[DEAR</a> PIMCO: Would Bill Gross Maybe Like To Update His Analysis Of Stocks? | Daily Ticker - Yahoo! Finance](<a href=“DEAR PIMCO: Would Bill Gross Maybe Like To Update His Analysis Of Stocks?”>DEAR PIMCO: Would Bill Gross Maybe Like To Update His Analysis Of Stocks?)</p>
<p>“Addendum: By the way, Bill Gross is probably absolutely right that stocks will return less in the future than they have in the past, but not for the reason he suggests. The reason stocks will likely return less in the future is that 1) stocks are still overvalued relative to historical averages, 2) dividends are much lower than historical averages, and 3) profit margins are much higher than average, suggesting that they will soon drop. All of these factors suggest that equities will return about ~2%-3% real over the next decade instead of the ~7% average. But this has nothing to do with the flawed idea that stocks can’t return more than GDP.
Bill Gross also makes another very important point about how corporations and shareholders have become greedy in recent years and now pay an all-time-low percent of GDP as wages. This is a big problem, one that will have to change if the economy is to heal itself. I’ve discussed this issue frequently: You can check out the charts here. As companies pay employees more, margins will drop, which will hurt stock performance (see point 3 above). But, again, this has nothing to do with the claim that stocks can’t return more than GDP.”</p>
<p>[S&P</a> 500 Dividend Yield](<a href=“http://www.multpl.com/s-p-500-dividend-yield/]S&P”>S&P 500 Dividend Yield)</p>
<p>In 1980, the mantra was buy stocks when stocks yield 6 percent, sell stocks when they yield 3 percent.</p>
<p>That has gone out the window. I guess you can argue that stocks have done ok with declining yields over the last 30 years. Now that dividend yields are down below 2 percent…I think the odds are pretty good that stocks going forward are going to have lower returns than historical averages. Stocks have to rise 2 percent more a year than historical averages to make up for lower div yields.</p>
<p>I think the first paragraph in that last post is correct.</p>
<p>ECB holds at 0.75% - waiting for comments. Generally speaking, and it’s amazing to say, the legislators seem to be doing more than the central bankers.</p>
<p>Wow…Knight Capital…Wow…</p>
<p>Stock is CRUSHED.</p>
<p>Nice call by Guy Adami, who had Knight Capital as a buy in yesterdays show</p>
<p>Guy Adami, managing director of stockMONSTER.com, is a buyer of Knight Capital [KCG* 6.94* * -3.39* (-32.82%) * ]. Although he’s aware of the recent trading debacle, he sees the decline as an opportunity.</p>
<p>:)</p>
<p>[Knight</a> Capital: Trading Error Cost Firm $440 Million - MarketBeat - WSJ](<a href=“Knight Capital: Trading Error Cost Firm $440 Million - WSJ”>Knight Capital: Trading Error Cost Firm $440 Million - WSJ)</p>
<p>"Here’s the press release:</p>
<p>PRESS RELEASE: Knight Capital Group Provides Update Regarding August 1st Disruption To Routing In NYSE-listed Securities</p>
<p>JERSEY CITY, N.J., Aug. 2, 2012 /PRNewswire/ — Knight Capital Group, Inc. (NYSE Euronext: KCG) today provided an update on the August 1, 2012 disruption to routing in NYSE-listed securities.</p>
<p>As previously disclosed, Knight experienced a technology issue at the open of trading at the NYSE yesterday, August 1st. This issue was related to Knight’s installation of trading software and resulted in Knight sending numerous erroneous orders in NYSE-listed securities into the market. This software has been removed from the company’s systems.</p>
<p>Clients were not negatively affected by the erroneous orders, and the software issue was limited to the routing of certain listed stocks to NYSE.</p>
<p>Knight has traded out of its entire erroneous trade position, which has resulted in a realized pre-tax loss of approximately $440 million. Although the company’s capital base has been severely impacted, the company’s broker/dealer subsidiaries are in full compliance with their net capital requirements. Knight will continue its trading and market making activities at the commencement of trading today. The company is actively pursuing its strategic and financing alternatives to strengthen its capital base."</p>
<p>I can’t wait to hear Guy’s next pick. It is hard to lose 50 percent on a stock in a day. Takes a special talent. </p>
<p>Can’t wait to act on this guy’s recommendation.</p>
<p>Who is this guy, anyway?</p>
<p>Got this alert in my email box today. Good to know that some retailers are doing well this summer. Short version: sales up 8% for July, raising quarter and full year guidance. TJX has been sitting around at an all-time high for a month - it’s been quite annoying. If they pull back today, that’s a bad sign on the economy.</p>
<p>FRAMINGHAM, Mass.–(BUSINESS WIRE)–Aug. 2, 2012-- The TJX Companies, Inc. (NYSE: TJX) today reported July 2012 sales results. Sales for the four-week period ended July 28, 2012, were $1.8 billion, up 8% over the $1.6 billion achieved during the four-week period ended July 30, 2011. For the 26-week period ended July 28, 2012, sales reached $11.8 billion, a 10% increase over the $10.7 billion achieved in the same period last year. Consolidated comparable store sales for the four-week period ended July 28, 2012 increased 7% over last year. For the 13-week second quarter, consolidated comparable store sales also increased 7% over last year. For the 26-week, year-to-date period, consolidated comparable store sales increased 8% over the same
period last year.</p>
<p>Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc.,
stated, “We are very pleased to report that our strong momentum continued in July. Our consolidated comp store sales increase of 7% in the month significantly exceeded our expectations and was achieved over a 4% increase last year. Customer traffic was up substantially at all divisions and drove most of the comp increase, which we believe speaks to our on-point fashions and brands at great values and wide customer demographic appeal. With above-plan sales and strong margins in July, we now expect second quarter earnings per share to be approximately $.55, above our recently raised guidance and up significantly over last year. For the full year, we are now expecting earnings per share to be in the
range of $2.38 - $2.44. We enter the third quarter in a very strong position, poised to capitalize on our many opportunities for the second half of 2012. Our inventories are in great shape, allowing us to consistently flow to our stores an exciting mix of fresh back-to-school merchandise at amazing values. This, along with our great marketing campaigns, gives us deep confidence that we will continue to fuel sales by driving customer traffic to our stores.”</p>
<p>[Yahoo</a>! Message Boards - Potash Corp. of Saskatchewan, Inc. - Guy Adami on Fast Money has been](<a href=“http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_P/threadview?m=tm&bn=14496&tid=190713&mid=190726&tof=4&off=1]Yahoo”>http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_P/threadview?m=tm&bn=14496&tid=190713&mid=190726&tof=4&off=1)</p>
<p>TJX is up. Hasn’t traded much. 4500 shares.</p>
<p>I don’t think that I’ve ever seen it trade pre-market. It’s one of those stocks that starts to come alive a few minutes after the open on my streamer.</p>
<p>Market is pretty thin in TJX right now.</p>
<p>Not too many bids or offers yet.</p>