Capitalistpig

It’s You

Jonathan Hoenig — Wed, 19 Jun 2013 13:15:34 +0000

“Pile up enough tomorrows and you’ll find you are left with nothing but a lot of empty yesterdays.”

Uncle Miltie

Jonathan Hoenig — Tue, 18 Jun 2013 18:26:35 +0000

It’s impossible to fully appreciate the global contributions of Nobel Prize-winning economist Milton Friedman (1912-2006), whose advocacy of free markets reshaped the world.

The child of Eastern European immigrants, Friedman taught economics at the University of Chicago from 1946 to 1976. He wrote extensively on issues ranging from education to healthcare to interest rates, always emphasizing individual freedom. The Economist called him “the most influential economist of the second half of the 20^th century…possibly of all of it.”

When President Nixon announced a war on drugs in 1972, Friedman critiqued the program as immoral and counterproductive, writing “we have no right to use force, directly or indirectly, to prevent a fellow man from committing suicide, let alone from drinking alcohol or taking drugs.”

This authentic 1969 Time magazine features cover art by Milton Glaser and ships with rolling papers and a vintage copy of Friedman’s best-selling Free to Choose.

WLSAM890: Households’ Finances Improve

Jonathan Hoenig — Tue, 18 Jun 2013 10:32:45 +0000

Some of the stories I’ll cover this morning with Bruce and Dan on WLS-AM890 and streaming worldwide at 6:35AMCT:

Stocks bounce but Fed uncertainty looms

Bernanke likely to signal tapering

Households’ Financial Health Continues To Improve

Young Americans Are Ditching Credit Cards

Illinois’ Economic Outlook 3^rd Lowest in US

RetailMeNot Seeks $230 Million in Online-Coupon Initial Offering

Noodles Seeks to Raise $80 Million in 1st Restaurant IPO of 2013

Customers Willing to Pay for a Smile

Apple Opens Up About Data Requests, Reveals 5K Inquiries in 6 Months

Dunkin’ Doughnuts New Stores Mimic Starbucks

Click here to listen live…

Fox: Spies Among Us?

Jonathan Hoenig — Sat, 15 Jun 2013 06:18:14 +0000

This past weekend the New York Times released details discovered in a 2007 report that alleges Verizon built a fiber-optic cable to give the government access to all communications that flowed through their operations center. The story broke when a former AT&T engineer filed a class action lawsuit after working on a proposal to give the NSA access to all global phone and email traffic that ran through a network center. Forget the government spying on us—do we need to worry about private companies “selling out” their customers?

Prominent Democrats like Jim McDermott and Eleanor Holmes Norton are telling Republicans they’re blowing IRS scandal out of proportion, but a new poll says 78% of Americans think congress should keep investigating why the tax agency was targeting conservatives. Who is right?

A new report shows the Pentagon is buying components made in China, including the propellant that fires the hellfire missile and a metal needed to make night vision goggles. Is outsourcing military parts to China a good way to save tax dollars or a dangerous use of tax dollars?

Plus a stock idea from one of Europe’s only bright spots.

I’ll join Eric Bolling, Tracy Byrnes, Jehmu Greene, Wayne Rogers — and you on Twitter — for Cashin’ In at 10:30AMCT on Fox News Channel.

Feel Nothing

Jonathan Hoenig — Tue, 11 Jun 2013 18:21:16 +0000

Open trades are a relentless feedback loop. For six-and-a-half hours a day, at a minimum, you get a real-time reading of how smart or idiotic you are. Markets don’t discriminate based on experience, expertise or net worth.

No matter what level you trade, when you’re wrong, it’s unbearable agony, and when you’re right, it’s like getting a kiss from the world’s most beautiful girl. It’s magic.

Integral to the game is managing the emotions that come with playing it. Because your feelings about an asset has no impact on it, investors must learn to ignore, evade or numb them just enough to rationally act on the matter at hand: the marketplace and your position in it.

Learn more about our Investment Fund‘s 13-year track record of positive performance not correlated to the S&P 500.

WLSAM890: S&P Upgrades USA

Jonathan Hoenig — Tue, 11 Jun 2013 10:25:12 +0000

Some of the stories I’ll cover this morning with Bruce and Dan on WLS-AM890 and streaming worldwide at 6:35AMCT:

U.S. Stocks Fall Despite S&P Upgrade of US Credit

S&P Removes USA Negative Credit Watch

McDonald’s Says Cheap Eats Helped Lift Sales

Booz Allen Slides After Employee Identified As Source Of NSA Snooping Leaks

Apple unveils revamped iOS, iTunes Radio

Bank Employee In Germany Naps On Keyboard, Accidentally Transfers Millions

Lululemon shares drop on CEO shake-up

FedEx Raising Freight Shipping Rates

Buffett Charity Lunch Goes For Over $1 Million, Down From Last Year’s $3.5 Million

Click here to listen live…

Lake Effect

Jonathan Hoenig — Mon, 10 Jun 2013 17:29:12 +0000

“My own private Stand By Me.”

Fox: Auditing Mr. Toad

Jonathan Hoenig — Sat, 08 Jun 2013 11:04:34 +0000

Just as the IRS was targeting conservative groups attempting to get tax-exempt status, the agency spent $50 million to hold 220 conferences for employees between 2010 and 2012. Some of the most egregious expenses: 15 outside speakers paid $135,000 and a presidential hotel suite that costs $3,500/night. Were these IRS conferences a waste of taxpayer money or a good investment to improve the agency?

The government got a court order making Verizon provide phone records of millions of Americans and has been using the secretive PRISM program to tap into users online. Although lawmakers claim it was for national security purposes, should the government be demanding phone and records and surveying internet traffic of millions of Americans? Why or why not?

Is Mickey Mouse a good economic indicator? Starting on Sunday, a one-day adult ticket to Disney theme parks will rise to $92, and admission for kids ages 3 to 9 will rise to $86. Is this a sign of inflation or a stronger economy?

Plus, a stock pick that isn’t a scam, but sounds like one.

I’ll join Eric Bolling, Tracy Byrnes, Wayne Rogers, economist and former Obama advisor Austan Goolsbee – and you on Twitter – on Cashin’ In at 10:30AMCT on Fox News Channel.

Pick Your Best Shots

Jonathan Hoenig — Fri, 07 Jun 2013 17:13:45 +0000

I don’t need anybody to convince me I like coffee. It is usually the first thing I think about every morning. I’ve walked through rain and snow for coffee and happily waste precious minutes in line to pay too much money for it. It’s something I simply must have.

That’s exactly how a trade should feel.

Most people buy something because they feel like making a trade. The trades I take are the ones that call to me, those I must be part of out of my own greedy self-interest. I don’t put money to work from boredom, obligation or fear.

Resources are too scarce to allocate towards any old thing. If you’re buying XYZ, you’ve got to really, truly love it. With a little patience, investors can spot the whoppers. You’ll usually find they’re well worth waiting for.

Learn more about our Investment Fund‘s 13-year track record of positive performance not correlated to the S&P 500.

WLSAM890: U.S. Culture More Risk-Averse

Jonathan Hoenig — Tue, 04 Jun 2013 10:27:40 +0000

Some of the stories I’ll cover this morning with Bruce and Dan on WLS-AM890 and streaming worldwide at 6:35AMCT:

Stocks Gain on Stimulus Hopes

Illinois’ Credit Rating Downgraded Again

Turkey ETFs Crash Amid Violent Protests

Americans Feel Better About Finances but are Still Largely Clueless

Glazed Donut Breakfast Going National at Dunkin’

Lavish IRS Conference Spending Revealed

U.S. Culture Becoming More Risk-Averse

Affluent Ready to Invest, Millionaires Still Skittish

New York Hilton Ends Room Service

Now Opaque, Lululemon’s Black Yoga Pants Return

Click here to listen live…