Hackers hijacked the Twitter account of the Associated Press and released a crude tweet about explosions at the White House and President Obama being injured. The "news" never made it to Main Street but lived in the universe of the stock market for about four minutes, wreaking swift destruction and revealing the soft underbelly with respect to confidence in the rally.
The only people that make serious money in commodities trading are the brokers. They pocket hefty commissions from clients that speculate on gold, wheat, oil, cattle, lumber and even coffee. But that gravy train is ending.
Once investors shift their gaze to a more distant future quarter however, we can expect stock prices to fall sharply, as the expected change in the growth rate of trailing year dividends per share for 2013-Q3 and 2013-Q4 are both deeply negative.
For the past few years, the Fed has maintained that the U.S. inflation rate, which is represented by the Consumer Price Index, or CPI, has hovered around two percent. Most consumers who buy food, goods and services such as health in the real world, will find this figure derisory.
Could the same kind of leveraged bubble that led to the collapse of the financial industry in 2008 be at work in the municipal bond market today?
If you're a regular Investor Update reader, then you know I'm a fan of buying stock in the world's greatest businesses. Put simply, these are companies that dominate their industries and return billions to shareholders in the form of dividends and share buybacks.
Right now this stock yields 4.7%... and it's one of the most stable dividend-payers in the United States. During the recession, dividends stayed steady, but in the past five years, investors have enjoyed five annual dividend increases.
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