05 10 19 WOWS FULL ISSUE
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5/10/19Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
Patient Compounding - Weitz Investment Trio
Wally Weitz and his "Gen 2" on Evolutionary Value Style
Preparing, a couple of weeks ago, to fly out to Omaha to personally participate, for the first time ever — despite my long career in financial journalism — in Warren Buffett’s Woodstock for Capitalists, my thoughts turned to that prairie city’s other legendary value investor (and long-time BRK shareholder), Wally Weitz.
Knowing that Warren’s every utterance last weekend would be covered like the proverbial blanket — and too old and jaded, anyway, to willingly mix in those scrums, I saw more value, frankly, in asking Wally about the outlook from his perch atop the much more comprehensible Weitz Investment Management, with its some $3 billion under management. And I struck gold.
Rather than trying to swim against the crowd gathering for the Berkshire festivities, Wally suggested we do a conference call, and include two of his partners, whom he’s come to refer to as “Gen 2.” Brad Hinton and Wally's son Drew are Weitz’s lead PM’s on its Value, Partners Value and Balanced funds (Brad) and on its Hickory fund (Drew). [More]
Squeeze Play Ascending Wedge Pattern In S&P Sending Out Bearish Vibes
5/10/19 8:20 AMBy Ron Griess
Note from KMW: In case you’re not an “old time technician,” here’s a clear explanation of the pattern from Erin Swenlin and her father Carl taken from their DecisionPoint.com website: https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html
“… Let's look at the bearish ascending wedge. Note that the top trendline is rising. [More]
Semi Sales Plunge
First Quarter Saw 15.5% YOY Drop In Volume
5/10/19 6:20 AMBy The Semiconductor Industry Association
The Semiconductor Industry Association (SIA) today announced worldwide sales of semiconductors totaled $96.8 billion during the first quarter of 2019, a decrease of 15.5 percent over the previous quarter and 13 percent less than the first quarter of 2018. Global sales for the month of March 2019 were $32.3 billion, a dip of 1.8 percent compared to the previous month’s total and 13 percent less than sales from March 2018. [More]
Six Key Market Internals Turn Near-Term Bearish
5/10/19 5:20 AMBy John Kosar
In yesterday’s (May 7th) Special Report, we pointed out that 2 of our Asbury 6 key market internals had turned negative (bearish), and said the remaining 4 were very close to also doing so.
One day later, Table 1 above shows that 5 of our Asbury 6 have now turned negative, leaving only On Balance Volume in the S&P 500 (SPX) in positive territory — and that metric also appears to be on the verge of turning negative. [More]
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Trump, Russia Probe, Women in Politics, Warren, Capitallism, Market Sell-Off, AirPods, Stem Cells, China, ETFs
5/10/19 1:30 AM