05/11/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/051118.mp3

JUST LETTING YOU KNOW

Let’s Hope We Don’t Have a Repeat of 2008

Thursday, after the close J.P. Morgan announced a $2 billion loss on “stuff.” I looked at what they were doing and how they were doing it – and let me be clear and concise. I don’t know what the heck they did. I don’t think Einstein knows what they did. But what do know is that the stock took a big hit. It was down almost 4 bucks to 37 dollars on 216 million shares today. Average daily volume is 30 million.

What does this mean? As you know, I was one of the ones that were out in front of the 2007-2008 debacle. Let me tell you my biggest issues. First and foremost – and I wish I was making this up – there’s anywhere from $500 to $750 trillion of what they call derivatives. Instead of going on a long dissertation on what derivatives are, let’s just say…it’s “stuff.” And a lot of it is leveraged and it’s backed by “that, that and the other thing.”

It’s just one big, gigantic merry go round.

Now what happened in 2008 is that a lot of these derivatives were based on one entity and that was housing. And, of course, housing prices crashed. And all those derivatives basically crashed.

Here’s what I think is the outcome of this:

  1. I think it’s good that it happened. You think I’m crazy right? No, it’s actually because it’s a wakeup call. Hopefully all these banking goliaths are in their boardrooms this week asking each other the question: “Do WE have any issues?”
  2. Hopefully, the people that are supposed to have oversight on this stuff say to themselves or to each other, “Let’s go over the offices of these goliath banks and let’s make sure.”

And that’s that. It was a bad bet. A lot of people are going nuts over it. J.P. Morgan has had a good reputation. It’s just tells you how much stuff is out there and that anything can happen.

Now the last part of this equation:

I better not hear that government gives another freaking dime to another one of these banking institutions if they lose money.

I am sick and tired of privatized gains and socialized losses.

You do realize that’s what happened, right?

These morons got a gigantic put with our dollars in 2008. It should have never happened. Government should have told them to take a flying leap, put a bunch of them in jail, and took away the key. But no. Some of the same people ran the show back then are still running the show right now.

It makes me ill.

Now I am a big fan of Jamie Dimon. I have no idea what happened here, who’s at fault – whatever. But we’ll find out more. I’m glad that something like this gets out the open…that risk is still out there. And it can hit at any time.

And let’s just hope that this nightmare of derivatives that the regulators have still not lassoed…let’s just hope that we don’t have a repeat of 2008.

So that’s the story.

As far as the financials are concerned, of course J.P. Morgan had some influence on them. Goldman Sachs got hit a lot – Citigroup also — but I really didn’t see a lot of damage out there. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

05/09/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/050918.mp3

JUST LETTING YOU KNOW

“…I will not treat your tax dollars like Monopoly Money…”

Everybody who has been in Washington for the past 12 years – Republican or Democrat is an unmitigated failure, as a steward of our taxpayer dollars.

I know that France is going the other way. I’m going to do my darndest to make sure that we don’t go that way. Everybody keeps wondering how come the economy isn’t better. I gotta tell you, politicians are taking victory laps because we’re at 8.1% fraudulent unemployment. What? We were in the 5% range for years and years!

There is a direct correction between $16 trillion in debt – most of it accumulated since George Bush…and went into hyperdrive under THIS president – and this economy.

The people in Washington D.C. are castrating the future dollars of taxpayers and business and they all know it. Business people are smart. The only way government gets dollars is from them and individuals. And they know when the crooks in Washington spend $16 trillion that they don’t have, they know it’s coming out of who? Businesses and individuals. And if you haven’t noticed yet, there is a tax hike coming next year – the biggest one in history for $4 trillion coming out of the economy into Washington D.C. And they say they’ll cover the deficit, but they won’t. They’ll just keep spending it on stuff that is inefficient and makes no sense whatsoever.

I think we’re great. I think the American people are great. American people are smart. They work hard. They want to do the best that they can for themselves and their families.

The problem is THEM. Simple as that. They have shown a complete uncaring for you and me and our dollars. They have set rules for themselves that are different from ours. They live in a different land. Before recently, they were able to legally do illegal insider trading. And I could go on and on.

And unfortunately, we have a liar in the White House of the highest order and the lies are all there on video.

“I will not treat your taxpayer dollars like Monopoly Money. I will go line by line through the budget.”

They haven’t even put out a budget in three years!

He lied. He’s a charlatan. He represented himself as one thing and is another. He is a major league, over the top “tax and spend” socialist. A redistributor of wealth. And he has the wonderful people in the media enabling him. The media is supposed to be a watchdog. But no. And there’s just no talk about deficits by the media now.

This whole week has been on gay marriage. And, of course, Mr. Politician changed his stance today. Or “evolved.” Terrific. I’ll throw a party.

But I got news for you, in the pecking order – $16 trillion in debt and counting is Number One. But they don’t think it’s Number One because they’re economic advisors are a bunch of mutt hounds. They think it’s okay. Gimme more. And the reason they think it’s okay is because the markets haven’t collapsed. But even if that happens, they’ll just blame the other guy because that’s all they do. Naw, it wasn’t me. Just because I was in the White House for 3 plus years…no it’s Bush’s fault.

So get my point.  I want them all gone.

Find me 100 senators that care about balancing the budget.

Find me governors that care about balancing the budget of their states.

Find me 435 people in the House around the country representing their districts that “get it.”

Or I’m going to keep talking.

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

05/08/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/050818.mp3

JUST LETTING YOU KNOW

As you the markets have been in corrective mode and they’ve been hit pretty hard. And when it comes to names getting hit, the market is starting to leave no stone unturned.

And it was one of those very rough days in the market today. But then something happened…the defense came it. Yesterday, on my radio show, I had outlined major support levels in the indices. Most of those support levels were breached today to the downside…during the day. At end of the day, most of those support levels taken back by price. This indicated defense in the market and that, maybe from here, in the near-term at least, the downside is limited.

Let me explain. What a market is going up and up and up on a strong up day, yet finishes close to the flatline or finishes down – that usually means that the buyers have been wiped out and sellers get the upper hand.

Today was the opposite. Though the market still finished down, the Dow today at one time was down 190 some odd points and yet it finished down only 76. The Nasdaq at one point today, was down 57 points, and it finished down only 11 on big volume.

This indicates defense, for now.

I don’t worry about why.

I don’t worry about whether the Fed decided to do something.

I don’t worry about “who.”

I worry about outcome.

And the outcome today was that the market has a chance to have a very bad down down. Now don’t get me wrong. There were a lot of stocks that were down a lot today. But then, there were a lot of stocks that came back today and showed some good defense.

So I’m going to call this day, a defense day, where the market had a chance to have a brutal downside day, but turned some of the way.

What’s next?

Let me be blunt and honest.

I have no clue.

And I don’t want to have a clue.

I want to play it by the book. I want to do my scans and know what the strongest names are. What names held up the best with the best earnings and that reacted well with the earnings.

I want to wait for a Follow-Through Day on the market that will tell me that maybe and potentially that the coast is clear. Notice the word “potentially.” I have this sneaking suspicion that this bad boy is going to get really touch.

So take your time.

Normally, I would tell you that today was a really good day and that the bleeding has been stashed. I can’t tell you that just yet. As I’ve been going through scans, it’s like a kid scribbling on a sheet of paper now. More and more names have broken and are out of the leadership category.

We’ll see what happens in the next few days.

I need some cards coming out of the deck. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

05/07/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/050718.mp3

JUST LETTING YOU KNOW

Last week was rough. Over the weekend, the futures were down big time. In case you didn’t know, a socialist won the French presidency. He is the first socialist president in 17 years. He has openly admitted that he does not like the rich and that his real enemy is the world of finance.

President Hollande wants to:

  • Tax the wealthy (and I’m not making this up) up to 75%. 
  • Curtail Paris as a center for financial dealing.
  • Avoid going into the austerity measures to fix the deficits that are going on in France as well as the rest of Europe.
  • He wants to spend on social programs.
  • Lower the retirement age and basically dictate policy through tax dollars.
  • Be committed to equality regardless of whether you worked your rear end off, educated yourself, created a business, grew the business – he doesn’t care.
  • He believes that everybody should have just about the same thing.

He likes the word “parity.”

So the market was bad. But that’s not going to change the playing field for the markets right now. It is only one country.

My simple take is the same take that I have about the socialist that’s running the U.S. Again, let me say this. I don’t use the word socialist as a bad word. There are capitalists and there are socialists. Of course, there are also Libertarians and a lot of things in between. Socialists have a certain thought process:

  1. If you make too much money, you probably did something wrong to make it.
  2. If you make too much money, it shouldn’t be yours.
  3. If you make too much money, you have to pay your “fair share” (notice didn’t say a number).
  4. Socialists are smarter than you and they will be smarter than you would.

And that’s what we’re dealing with in France and that’s why we’re going to see a ton of people leave that country, if he does go to a 75% tax bracket.

Now does it remind you of anything in this country? And again, I’m not putting Obama down. I’m just stating who he is. Every bit of his policy…every bit of his rhetoric…is socialism. Listen to him in his campaign…”your fair share…equality…”

I have news for you. There’s always going to be inequality. If somebody decides not to educate themselves and smokes crack, they’re not going to make as much money as somebody who’s working their tail off. If somebody decides to be a teacher they’re going to make a certain amount of money vs. somebody who decides to run a big company.

If somebody decides to manage 2 or 3 McDonalds he is not going to make as much money as somebody who is managing a hundred of them.

That’s what is known as “individualness” which is a word I’m making up. It has to do with what I decide to do with my life, I should earn commensurate with what I decide.

If somebody decides to be a heart surgeon or an orthopedic surgeon and goes to school for eight years and does their residency and their internship and then does a lot of surgery and saves lives, they’re going to make a half million bucks, if not more.

There’s always going to be inequality. But according to other people, it shouldn’t be that way.

Screw you. You wanted to work your rear end off? You wanted to go to school for 8 years and be a doctor and make a million bucks a year? Screw you. 75%…give it to me.

Now, we’ve yet to get that in the U.S., but we’re going to. Why? Because socialists spend money and run massive deficits and then come after your money. And that’s exactly what’s happened here. Barack Obama has spent $5.5 trillion in three years that they don’t have. And he’s done it on purpose. And he refuses to do anything about it. And, of course, the media will not ask him about what he Obama said at the beginning of his presidency.

“At the beginning of your presidency, you said you would not treat taxpayer dollars like Monopoly money and you’ll go through the budget, line by line.”

And, by the way, the Democrats have not had a budget in the past three and half years.

So we’ll see how this plays out.

Now, a socialist cannot be elected without people. In this country, they lie. The President lied about who he was and what he was going to be.

In France, Hollande didn’t lie. He told everybody who he was and they still voted for him.

I don’t get it. I don’t understand it. I don’t know why people would want to vote for that. Because high taxes do only one thing: They prevent you from become rich. They don’t hurt the already rich. They prevent others from becoming rich.

So I don’t understand the French people. God bless’em. We’ll see how it plays out.

I believe in capitalism and the ability for somebody to become whatever they want to become, as long as they do it within the rule of law.

And that’s that.

I do not believe in massive over the top government.

I do not believe in government in your face. I reading now that the state of Massachusetts does not any longer allow bake sales in schools because the food is bad. Forget the fact that they’re raising funds for good things. No more cupcakes. That is small example of what I see happening. And hope that smarter heads prevail.

Because the greatness of this country is everybody wanting to be great and wanting to be wealthy and successful and do great things. And if you disincentivize that, great things don’t happen as quickly and as plentifully.

And they can talk a good game as Obama does, but they do they exact opposite every time. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

05/04/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/050418.mp3

JUST LETTING YOU KNOW

The Market is getting into big, big trouble here. I am doing this report during the final hour of the market on Friday because I’m doing the major Boys & Girls Club of Central Florida Fundraiser this afternoon.

Here’s what I am seeing:

  • We had a Follow-Through Day last Wednesday. It looked okay. I bought a couple of things and as I told you, anything that breaks the 50-day moving average…I’ll be gone. That happened to my two names today.
  • Since then we’ve had nothing but stalling days. Markets going up nicely and then finishing at the low of the day on volume.
  • We’ve had distribution days.
  • And today…if nothing changes by the time market closes – a real nasty day.

It would be amazing once again if we went into some pretty good intermediate correction here. It’s May again! There’s this old adage, “Sell in May and Go Away.” I really haven’t gone back many years to see how true it is.

All I know is that the past two years before this year: We topped in April/May and we bottomed in October. So I’m almost thinking here, I’m going to just sell everything here and go to sleep and come back in September and see how things are changing…but nah…you can’t do that.

Now, everybody’s talking about the reasons why. I can sit here and talk to you about the past few months…where every day there was a reason why the market should be crashing. But the market kept going up.

So “reasons” to me are not the biggest thing, but since you want to know:

  1. First off, the economic numbers are not stalwart. They kind of blah.
  2. The unemployment numbers are a farce.
  3. Europe is in a recession in case you don’t know.
  4. China’s been slowing down.
  5. Etc.

Today, the employment numbers came out. We only had 120,000 jobs created. But they’re trying to tell us that the unemployment rate went from 8.2% to 8.1%. Okay. Somehow, in this “better jobs” environment as they’re telling us — 522,000 people left the workforce. Yeah, right.

So that leads me to something else. I got a message today when I got into the office from Steve I. I get messages from him from time to time. He thinks I’m nuts. He’s a nice guy and he’s a smart guy. It’s been my contention that the numbers have been fudged on the employment figures and he doesn’t believe it. I think said that I’m making it up. When you have a chance, look at these charts and you will see how people have supposedly left the workforce.

 

Now, for starters, it started down back in the years 2000-2001, when more and more people had left the workforce for whatever reason. Now go and look at 2008 until today. Go look at the past year and half when supposedly things are getting better. It is my contention they’re full of it. They’re arbitrarily making up numbers to make the unemployment rate go lower. And I don’t know if people today go fed up at the B.S. It does not matter to me.

I deal in reality. I would like to see the list that our government came out with where 522,000 left the work force. Give me the list. Let me call those people. Because to explain it, if the employment picture is getting better, more people are entering the workforce because they are more confident of things. So I ain’t buying it.

  • You put back a quarter of the people who supposedly left the workforce in the past three years, and I think we’re probably at 8.8% unemployment.
  • You put back about half the people…I think about 9.6%.

So I don’t know if the market reacted to this or not. All I know is that the market’s been distributed over the past few days and they are coming hard at it today in a pretty big way. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

05/03/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/050318.mp3

JUST LETTING YOU KNOW

I read something today that was absolutely amazing. 78% of all NFL football players are bankrupt within 2 years of retiring. And I thought there was a typo and I checked and checked. It’s amazing thing to see.

And my goal is to grab some of these people, while they’re making it and let them know that you have to live way below your means because – because you have a shelf life.

I was reading this week about a boxing match this Saturday. Floyd Mayweather is fighting and he’s undefeated. A great, great fighter.

And I keep reading about him gambling.

Supposedly, he fights his opponent they’ll split $100 million. But I read that he made a $1.5 million bet on a game and he won. I was thinking to myself about that when I read about Antoine Walker who played for many basketball teams – he’s broke and lost it all gambling. It’s just amazing to watch people disrespect the dollar. And I could go on and on about people that I know that treated the dollars just as badly. There’s nothing wrong with spending money if you’ve made and you’ve got it. Far be it for me to tell you.

But you’ve got to know your surroundings and you’ve got to know your shelf life. Yeah, there are guys making $20 million a year and they’re going to play for 10 years. They should be okay.

But more and more, I read about athletes and entertainers who just spend it all. Thus, we are going to be doing something different which is total protection of capital and watching the other side of the coin which is what you are doing with your capital.

Now the interesting thing is…we have a lot of income accounts. I can’t do anything with them now. The Fed has hamstrung me and anybody else out there. Try to find a decent bond to buy. You certainly not going to be a 10-year Treasury and get 1.9%. But every day I look at what I call “Double Bs.” It’s a rating system. I look for things that are a little higher on the risk scale, but when you’re buying 2 to 3 year paper…maybe 5 at the most, you look for decent returns, and there isn’t any.

What’s happened? The Fed with their zero interest rates are forcing everybody to anything and everything at any price…and they are. And there’s going to be heck to pay down the road if you go out long term. So the first thing I want to you today is: Please don’t by any long-term corporate bonds or long-term treasury bonds. Please don’t. We’ve had decades of interest rates and it never lasts. And the Fed has bought up 60% of our issuance of bonds in the past year. I’m wondering what happens if that stops.

So I want to let you know what I’m thinking and what I’m seeing. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

WHEN MORT TALKS, I LISTEN

[email_link]

Everyone’s favorite perma-bullish stand-in for Cramer, Fast Money’s Scott Wapner, seemed lost for words when Boston Properties CEO Mort Zuckerman laid down some basic truthiness on the state of the US economy “We have the most stimulative fiscal and monetary policy in the history of this country and here we are three years into the recession and it’s not ended. 

Continued

SOURCE: http://www.zerohedge.com

A FABULOUS GESTURE

[email_link]

TAMPA, Fla. — In a symbolic gesture, the Tampa Bay Buccaneers signed Rutgers defensive tackle Eric LeGrand, whose playing career was ended by a spinal cord injury, on Wednesday morning.

LeGrand played for Tampa Bay coach Greg Schiano at Rutgers. In a game Oct. 16, 2010, against Army, LeGrand suffered fractures of two vertebrae and a spinal cord injury.

Continued

SOURCE: http://espn.go.com

04/30/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/043018.mp3

JUST LETTING YOU KNOW

Monster Beverage (MNST) has been a very strong stock with good earnings and revenue growth. Coming into today, the stock was 65.53. It had a breakout on an upgrade on January 17 and has basically not looked back. Earnings are going to be reported this week or early next week.

In the middle of the day, the Wall Street Journal reported that Coca Cola (KO) is in talks to buy Monster Beverage. Now, I have no idea where the Wall Street Journal got these reports from. But I do know that Monster Beverage stock went from 64.19 to 83.95 within 10 minutes. And, of course they stopped trading for a few minutes in between.

For a few hours, it traded around. It went to 84 and came down to 75. And then something happened at 3:55 PM ET when stock was at 76.05. Coca Cola announced that they absolutely have had no talks whatsoever with Monster Beverage.

Simple as that. Or not so simple.

Coca Cola announced that they have a distribution relationship with Monster in many markets. They’re always in contact with Monster to maximize the value of their commercial arrangements. But they stated that they are not in discussions to acquire Monster Beverage.

Well, the stock closed at 65, down 52 cents.

What’s the point I’m trying to make? Well, first of all it was 76 at 3:51 PM ET and it 84 at 11:57 PM ET. The stock finished down about 20% from the highs.

First off, if you got caught in this and bought it. I have a recommendation. I would write the SEC and have them investigate who leaked such information for where the Wall Street Journal reported this, moving that stock. Because, there’s thing that journalists do not have disclose their sources. But I gather in lawsuits, something’s gotta give.

But here’s the lesson. Pick your poison. I mentioned this thousands of times on this show. Pick your poison.

I can understand that you want to make money getting caught up in this news. But you’re going to get hour head handed to you…not all the time, but a decent amount of time. You also need to know that the person who came up with this so-called “whatever” is going to jail if it’s found out that he traded on the information he gave.

And as I looked at the news from the Wall Street Journal, their article sure as heck sounded like they knew what they what the heck they were talking about. Very weird.

I don’t play these things. And I must tell you that have missed a few darn good ones to the upside. But I’ve missed a lot of darn bad ones to the downside.

I think the Wall Street Journal should be held accountable to some extent, but won’t be more than likely.

And I just don’t know what to make of things like this except…pick your poison. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

04/27/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/042718.mp3

JUST LETTING YOU KNOW

This is a call to each and every one of you.

In case you did not know, the corrupt failures in Washington, D.C that have spent us into oblivion, to where all they do is deficit spend and have no care, no pain and no qualms whatsoever. And just print money to pay for these deficits, which will cause long term problems.

Guess what they’re talking about now. Yes…I’m not making this up.

They are now looking at retirement accounts. You see there’s about $18 trillion in retirement accounts. And now they’re trying to do something different with them. Why? That’s where the money is.

Do not let these crooks get away with it.

The only thing good that has ever been done is retirement accounts:

  • Our ability to take money and put it away on a tax deferred basis, whether it’s a regular IRA or a SEP, where you do not the taxes on it now, but you pay it later when you take it out.
  • Or a Roth IRA where do you do not get your deduction now, but you tax out tax free.

Now our wonderful sleazy scummy politicians want to get their greasy grimy hands on this. This week, the House Ways and Means Committee heard from several experts on the subject, now meaning there’s increasing focus on retirement savings. What they’re thinking about is changing the tax structure and the way you get the write-offs.

They are looking at:

  1. Taking away tax advantages for inherited IRAs, making the heirs empty them out and pay any income tax due within 5 years.
  2. Capping retirement plan contributions at $20,000 or 20% of compensation, when right now it’s capped at $50,000.
  3. Replacing exclusions and deductions for retirement savings with a tax credit

…and I could go on and on.

Kids, start yelling and screaming at your congressman, senator and whoever else.

That’s all I can tell you.

Every politician in Washington is an abject failure as stewards of our money and our Treasury. Our Treasury Secretary is an abject failure. Our President, an abject failure. George Bush, an abject failure. Hank Paulson, an abject failure. Ben Bernanke, a double abject failure…as stewards of our hard-earned taxpayer dollars.

And you have Barack Obama who simply took Federal spending from $2.5 trillion to approximately on average to $3.5 trillion approximately on average overnight and has kept it there–enriching his cronies, his buddies, and his friends. He lied to each and every one of you about who he was and what he’s about.

And now he’s across the country yelling and screaming, “do not change who’s running the show because they’ll take it away from you.”

Anyone who’s interested in balancing budgets now are “extremists, racists and uncaring people who want to throw out the poor in indigent. They do not care about children and the elderly.”

That’s the game. Ladies and gentlemen, except about 5 to 10 people in Washington, they’re all abject failures. And it’s getting worse by the day. Every day when I go to GaryK.com and look on the right side at this little clock that keeps on going DEBT, DEBT, DEBT and more DEBT put upon your children.

Now watch this.

Just stop reading for 10 seconds.

$417,000 was just added to our debt in the past 10 seconds.

You got me on that? Leave no doubt. At the end of this road, there will be a debt implosion. Because the people running the show do not give a crap about it. This president does not care about debt. He thinks it’s funny.

And they want to come after your retirement accounts.

Just letting you know. 

LISTEN TO GARY LIVE ON WEEKDAYS

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.