Today is Veteran’s Day. Marvel at how good wars have been for defense stocks:
LMT has a P/E of 18.9 and yields 3.21%. Raytheon has a P/E of 14.87 and yields 2.34%. Northrop Grumman has a P/E or 14.45 and yields 2.06%. Even at today’s much higher prices, none of these seem to be overpriced. I like LMT.
Annaly continues to deliver its huge 10.6% dividend yield. It’s also at the bottom of its trading range of the last ten years. Investors worry about making money in today’s tight, low interest rate world and worry about upcoming future (higher?) interest rates. The stock seems to have reached a nice low plateau. I’ve read extensively on it. And while its business seems to be tight (like LADR’s), I do like the yield.
Alibaba may be the most important stock to own for the long-term. From Business Insider this morning, Alibaba Posts Record Sales On Singles Day. On the world’s largest online shopping day of the year, China’s Alibaba shattered last year’s full-day sales of $5.75 billion, pulling in $5.8 billion by the afternoon. It’s been performing beautifully since it came public:
There are two questions on Alibaba:
+ Can it continue to grow? To my brain, it has barely scratched China’s huge potential. Jack Ma’s business strategy is brilliant. The man himself is very impressive. There are a zillion interviews with him on the Internet. Here’s one I liked: Click here.
+ Will China’s government mess with it? Alibaba brings prosperity to thousands of small and large Chinese manufacturers and businessmen. It seems to me exactly what the government wants: Make more people prosperous. Hence, limit unrest. Hang onto political power. Pretty simple stuff favoring BABA.
Matt Taibbi is back writing for Rolling Stone. His latest piece covers the sub-prime fraud at JPMorgan Chase, how they knowingly peddled garbage to their investors and got away with the smallest of penalties, while their JPMorgan executives got off scot-free, the stock rose and CEO Jamie Dimon got himself a nice raise.
It’s a fascinating story. I learned two things. Eric Holder is a lousy Attorney-General. And second, some companies are apparently too big to jail. Click here.
Suppliers screw up. The printer of my dictionary, United Book Press, is eleven days late. I didn’t put a penalty-for-being late clause in our printing contract. After their delay, they said I should have. I suspect they delayed my book to print other books that had a penalty clause. I’m an idiot. I’ve always trusted suppliers to keep to their word. No more.
Taylor Swift’s latest video is pretty amazing. I believe she writes, produces and directs all her songs and videos. She’ll be 25 in December. She’s probably the highest-earning singer in the world.
She opens the video with the words, “I can show you incredible things.” And she does. Click here.
Her most viewed video is called Shake It off. It’s attracted 255 million views. You read right. That’s millions.
Click here.
Tonight’s free concert on HBO.
For more on tonight’s performers, click here.
Funny.
+ Verizon Customer Call Satisfaction Department called to find out how their service was. Before we could answer, the call failed…
Harry Newton who is enjoying the indoor tennis from London. It’s on The Tennis Channel. I bought more BABA, CYBR and Hain.
Harry, you’re not an idiot, though some of your politics are. And it’s not just wars that have been good for defense stocks. Defending your arse, and mine, also requires substantial defense expenditures – China, Russia, Iran and a few dozen others. Then add in the politics of not allowing any reductions “in my neighborhood” and you have the picture. Given a choice, I’d rather over spending than underspending. And breakup the Washington – Wall Street partnership.
Harry,
>I learned two things. Eric Holder is a lousy Attorney-General.
He’s not just lousy, he has an agenda and it isn’t justice.
Unfortunately, all too true. And America and justice suffer.