Tuesday, April 2, 2013

Primer On Small Cap Investing And Why Goldman's Research On It ...

confused. for goldman

Investors have been pretty happy lately because the US stock markets is up about 10 percent for the year through March. Since investors are happy, their overall level of investing fear is pretty low.

We know this because there is an index we use to gauge investor fear, and that index is down about 30 percent for the year through March. The fear gauge, the VIX, is down, indicating that investors aren?t very fearful right now.

According to Barron?s, Goldman Sachs believes that when we go through periods of low fear, like right now, small capitalization stocks tend to do well shortly after this decline in the fear gauge. Small cap stocks are ?small? companies,?measured by their stock price and number of stocks outstanding.?

Specifically, Goldman?s research shows that some small capitalization stocks outperform large capitalization stocks?by a median annualized 8.1 percent in quarters that follow especially rapid declines in the VIX index. Large cap stocks are like what you?d find in an?S&P index fund, that index consists of?large companies.

And then they go on to provide a fancy chart to support their claim that when the fear gauge is low, this provides a good tailwind for small cap stocks. Here?s their chart, forget about the fact that the chart is missing some key information, we?ll get to that in a second.

Here?s what you need to know:

This is the part that Barron?s (or Goldman) forgot to include: Small capitalization stocks generally lose more money when things are bad and make a lot more money when things are good.?They?re small companies, less robust, and so they?re more sensitive to the market environment.

And this is why Goldman left out 2001, 2007 and 2008, in their fancy chart. Years when the fear gauge (the VIX) spiked, and small capitalization stocks sucked wind. This is coincidentally the most important thing to understand with small capitalization stock fund investing.

So where are the years 2001, 2002, 2007, and 2008 in this chart?

They left those out because:

1) Fear (or the VIX) spiked those years.

2) And small capitalization stocks tanked.

If the fear gauge is low like it is now, that?s not a reason to buy small cap stocks.

You buy small capitalization stock funds if you believe:

1) They?re undervalued. PS no mention of this in the Barrons article?

and/or

2) You believe that the stock market is going increase. And, you?re willing to take the risk that if the market goes down, you?ll lose more than you would in large capitalization stocks.

Just because volatility is low doesn?t mean small caps are going to outperform large caps.?That?s the whole ?correlation does not equal causation? thing people talk about. If two things are somewhat correlated it doesn?t mean that one causes the other (in this case, the low fear gauge (VIX) does not cause small cap stocks to do well, even though the Goldman research wants you to believe that).

(Barron?s)

Image via imgur

Source: http://makinsensebabe.com/primer-on-small-cap-investing-and-why-goldmans-research-on-it-doesnt-make-sense/

Google News Newton virginia tech shooting Bbc News China glock

Obama wants to map your brain (CNN)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, RSS Feeds and Widgets via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/296155461?client_source=feed&format=rss

cmas cmas tcu dr. oz heart attack grill las vegas the heart attack grill joe kennedy iii

Feedly Mobile revamp caters to Reader escapees with fast search, Must Reads

Feedly Mobile revamp caters to Reader escapees with new search, mustreads

The phaseout of Google Reader is quickly becoming a boon for developers still carrying the torch for newsreader apps -- just ask Feedly, which now says it took on 3 million new users in the two weeks since Google's decision. Rather than simply wait for more customers to roll in on their own, though, the company is taking matters into its own hands with a major refresh of Feedly Mobile for Android and iOS. The update brings a reworked search engine that's both extra-quick and makes topic suggestions based on the collective subscriptions of the Feedly user base, getting better as more readers join the ranks. Other updates also serve those who want to keep things moving quickly. A new Must Reads section prioritizes feeds, a title-only view maximizes screen space and an updated sharing panel both allows a customizable shortcut as well as (slightly ironic) sharing to Google+. Once you've gotten over the sting of another Google spring cleaning, Feedly's potential solutions await at the source links.

Filed under: , ,

Comments

Source: App Store, Google Play, Feedly

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/3s5rOCsEaUk/

Illinois Lottery texas lottery Dell Levis Fireman Ed Allegiant Air Melissa Rycroft

Hillary for president super PAC officially launches (Washington Post)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, RSS and RSS Feed via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/296182472?client_source=feed&format=rss

jason aldean Brigitte Nielsen Cricinfo Geno Smith

Monday, April 1, 2013

Professional Business Marketing ? Business people 3/31

Papke attends

Wayne Papke, with Investment Centers of America Inc. in Bismarck, joined top representatives at the recent ICA national educational conference in Scottsdale, Ariz.

Johnson hired

Nancy Johnson has been hired as executive director of the North Dakota Soybean Growers Association.

Johnson has written for publications such as Corn and Soybean Digest magazine and has done consulting for companies in agriculture. She has more than 30 years of experience in agricultural marketing, strategic planning and implementation and the use of media.

Dawson with SWCA

Jim Dawson has joined the Bismarck office of SWCA Environmental Consultants as a project manager to expand services to oil and gas clients in the Williston Basin.

Dawson holds a master?s degree and a bachelor?s degree in geology from Virginia Polytechnic Institute and State University.

He has more than four decades of experience in Virginia, West Virginia, New Mexico, Colorado, Montana, and North Dakota and is a certified hazardous materials manager.

Hoeven gets award

Sen. John Hoeven, R-N.D., retired Sen. Herb Kohl, D-Wis., and Rep. Robert B. Aderholt, R-Ala., have been named recipients of the National Emergency Management Association?s 2013 Congressional Award for their commitment to and support of emergency management and homeland security issues and policy.

John Madden, NEMA presidents, said the three were instrumental in helping border states create partnerships with Canadian provinces and streamline homeland security and emergency management grant processes.

Doerr recognized

Gary Doerr, a transportation engineer with the North Dakota Department of Transportation?s bridge division, is this year?s recipient of the Bruce Nelson Distinguished Service Award.

The award presented by the North Dakota Society of Professional Engineers Bismarck Chapter recognizes professional engineers from Chapter 3 for their contributions to NSPE/NDSPE, the engineering profession, their communities and to humanity.

Doerr has served in all leadership positions for Chapter 3 and the state society.

Byers honored

Jon Byers, an assistant attorney general in the North Dakota Attorney General?s Office, received the Outstanding Service Award in Prosecution from the National Children?s Advocacy Center .

It was presented at the 29th National Symposium on Child Abuse in Huntsville, Ala.

Byers was integral in starting the CAC movement in North Dakota and has worked to improve state legislation to protect children.

He serves on the board of the Dakota Children?s Advocacy Center and is an active member of the Children?s Advocacy Centers of North Dakota board and the Alliance for Children?s Justice in North Dakota.

Howard certified

Dr. Richard Howard, an interventional cardiologist with Sanford, is now certified by the National Board of Echocardiography in adult transthoracic echocardiography.

Certification follows training and completion of a competency examination.

Howard is also certified in cardiovascular disease and interventional cardiology.

Four join DEI staff

Four people recently joined the staff of Dakota Eye Institute in Bismarck.

Gail Sharpe is a technician. From North Carolina, she is a 2012 graduate of the Ophthalmic Medical Assistant Program at Caldwell Community College and Technical Institute in Hudson, N.C.

Michelle M. Hager is an ophthalmic technician. A North Dakota native, she is a 1999 graduate of Bismarck State College with a degree as a medical administrative assistant. She has six years of eye clinic experience.

Cheryl Rising is a family nurse practitioner. A Minnesota native, she earned her bachelor of science in nursing degree from Moorhead State University and her master?s in the family nurse practitioner program at the University of North Dakota. Rising holds national certification as a family nurse practitioner as well as in neuroscience and geriatric nursing.

Kathy Morrison is a scribe. She has 10 years of experience at St. Luke?s Cataract and Laser Institute in Tarpon Springs, Fla. Morrison is from Grand Rapids, Mich.

Two hired in sales

Christy Gross and Heath Knuth have joined the sales staff at Cedric Theel Toyota in Bismarck.

Gross, a native of Aberdeen, S.D., has been in sales for 15 years.

Knuth recently relocated from Fargo, where he was an elementary school teacher and tennis coach.

Moon with Starion

Jennifer Moon has joined Starion Financial as a personal banker at the south Bismarck location.

Moon has several years of banking and customer service experience. She is a graduate of the University of Phoenix, earning a bachelor?s degree in business management.

Three promoted

Three people have been promoted at Cornerstone Bank in Bismarck.

In the mortgage department, Jon Leet is now VP mortgage loan officer and Joe Sheehan is SVP mortgage banking.

Jeanne Mohn was promoted to AVP senior credit administrator.

Leet started with Cornerstone as a mortgage loan officer in 2008 and has 30 years of banking experience.

In 2008, Sheehan was hired as a VP mortgage banking. He has 15 years of banking experience.

Mohn started as a customer relations representative in 2007.

Mabin attends

Mike Mabin, president of Agency MABU, recently attended a national marketing workshop for agency principals. Presented by Second Wind, it focused on digital and transmedia marketing.

Artham certified

Dr. Surya Artham, an interventional cardiologist at Sanford Clinic in Bismarck, has completed his board certification for cardiovascular disease through The American Board of Internal Medicine.

The certification requires previous certification in internal medicine and the completion of oral and written examinations.

Artham joined Sanford Health in 2012.

Aldinger recognized

Eric Aldinger of Planningteam Financial Advisors in Bismarck, was recognized as Investment Centers of America Inc.?s most promising new representative at the company?s national conference in Scottsdale, Ariz. The annual event earlier this month featured workshops and educational sessions.

Thompson chosen

Sandy Thompson has been named by the state Department of Human Services as regional director of West Central Human Service Center in Bismarck and Badlands Human Service Center in Dickinson.

Thompson had been the director of the Specialized Child and Family Services unit at the Bismarck human service center for nearly 15 years. Her appointment follows the retirement of Tim Sauter.

Thompson is a licensed addiction counselor with more than 20 years of experience.

She has a master?s degree in management from the University of Mary and a bachelor?s degree in addiction studies from Minot State University.

Sales leaders

Shirley Thomas and Heidi Hilzendeger are Bianco Realty?s associates of the month for having the most sales in February.

They have been licensed Realtors since 2001 and 2012, respectively.

Urlacher recognized

Loran Urlacher has been named aviation technician of the year by the North Dakota Professional Aviation Mechanics Association and was honored at the North Dakota Upper Midwest Aviation Symposium.

Urlacher has been an aircraft mechanic for 22 years and has worked for Bismarck Aero Center for the last three years. He is the shop supervisor to seven maintenance technicians.

Safe driving cited

Four interstate drivers with Jobbers Moving Storage, Bismarck, have received safe driving awards from Allied Van Lines, for which Jobbers is an agent: Mike Loran, 28 years; Larry Ormsby, 12 years; Susan Holliday, five years; and Jarvis Leintz, two years.

Pfeifer promoted

Courtney Pfeifer was recently promoted to general manager at The Ground Round in Bismarck.

A Bismarck native, Pfeifer has more than 10 years of experience in the food and beverage industry. At Ground Round, she worked as the assistant manager before becoming the assistant general manager.

4 get Toyota awards

Four employees at Cedric Theel Toyota in Bismarck were recently recognized by Toyota for hard work, dedication and determination in 2012.

Recipients of the Sales Society Bronze are Chad Kay, Ben Sandstrom and Jennifer Holzer.

Serena Jangula was awarded the Comptroller Excellence 100 Percent.

Source: http://lowbrowse.org/business-people-331.html

march 30 rimm pauly d project adrienne rich autism cesar chavez day raspberry ketone

Senators caution immigration deal not final

WASHINGTON (AP) ? Even with one of the largest hurdles to an immigration overhaul overcome, optimistic lawmakers on Sunday cautioned they had not finished work on a bill that would provide a path to citizenship for 11 million illegal immigrants.

The AFL-CIO and the pro-business U.S. Chamber of Commerce reached a deal late Friday that would allow tens of thousands of low-skill workers into the country to fill jobs in construction, restaurants and hotels. Yet despite the unusual agreement between the two powerful lobbying groups, lawmakers from both parties conceded that the negotiations were not finished.

"With the agreement between business and labor, every major policy issue has been resolved," said Sen. Chuck Schumer, the New York Democrat who brokered the labor-business deal.

But it hasn't taken the form of a bill and the eight senators searching for a compromise haven't met about the potential breakthrough.

"We haven't signed off," said Sen. Lindsey Graham, R-S.C.

"There are a few details yet. But conceptually, we have an agreement between business and labor, between ourselves that has to be drafted," he added.

Yet just before lawmakers began appearing on Sunday shows, Sen. Marco Rubio warned he was not ready to lend his name ? and political clout ? to such a deal without hashing out the details.

"Reports that the bipartisan group of eight senators have agreed on a legislative proposal are premature," said Rubio, a Florida Republican who is among the lawmakers working on legislation.

Rubio, a Cuban-American who is weighing a presidential bid in 2016, is a leading figure inside his party. Lawmakers will be closely watching any deal for his approval and his skepticism about the process did little to encourage optimism.

Rubio, who is the group's emissary to conservatives, called the agreement "a starting point" but said 92 senators from 43 states haven't yet been involved in the process.

The detente between the nation's leading labor federation and the powerful business lobbying group still needs senators' approval, including a nod from Sen. John McCain, the Arizona Republican whose previous efforts came up short.

"I think we're on track. . But as Sen. Rubio correctly says, we have said we will not come to final agreement till we look at all of the legislative language and he's correctly pointing out that that language hasn't been fully drafted," Schumer said.

Sen. Jeff Flake, R-Ariz., also noted the significance of the truce between labor and business but added that this wasn't yet complete.

"That doesn't mean we've crossed every 'i' or dotted every 't,' or vice versa," said Flake, who is among the eight lawmakers working on the deal.

Schumer negotiated the deal between AFL-CIO president Richard Trumka and Chamber of Commerce head Tom Donohue during a late-Friday phone call. Under the compromise, the government would create a new "W'' visa for low-skill workers who would earn wages paid to Americans or the prevailing wages for the industry they're working in, whichever is higher. The Labor Department would determine prevailing wage based on customary rates in specific localities, so that it would vary from city to city.

The proposed measure would secure the border, crack down on employers, improve legal immigration and create a 13-year pathway to citizenship for the millions of illegal immigrants already here.

It's a major second-term priority of President Barack Obama's and would usher in the most dramatic changes to the faltering U.S. immigration system in more than two decades.

"This is a legacy item for him. There is no doubt in my mind that he wants to pass comprehensive immigration reform," said David Axelrod, a longtime political confidant of Obama.

During the last week, an immigration deal seemed doomed. But the breakthrough late Friday restarted the talks.

Ultimately the new "W'' visa program would be capped at 200,000 workers a year, but the number of visas would fluctuate, depending on unemployment rates, job openings, employer demand and data collected by a new federal bureau being pushed by labor groups as an objective monitor of the market, according to an official involved with the talks who also spoke on condition of anonymity ahead of a formal announcement.

A "safety valve" would allow employers to exceed the cap, the official said, if they could show need and pay premium wages, but any additional workers brought in would be subtracted from the next year's cap.

The workers could move from employer to employer and would be able to petition for permanent residency and ultimately seek U.S. citizenship. Neither is possible for temporary workers now.

"As to the 11 million (illegal immigrants), they'll have a pathway to citizenship, but it will be earned, it will be long, and it will be hard, and I think it is fair," Graham said.

The new program would fill needs employers say they have that are not currently met by U.S. immigration programs. Most industries don't have a good way to hire a steady supply of foreign workers because there's one temporary visa program for low-wage nonagricultural workers but it's capped at 66,000 visas per year and is only supposed to be used for seasonal or temporary jobs.

Separately, the new immigration bill also is expected to offer many more visas for high-tech workers, new visas for agriculture workers, and provisions allowing some agriculture workers already in the U.S. a speedier path to citizenship than that provided to other illegal immigrants, in an effort to create a stable agricultural workforce.

Schumer, Flake and Axelrod appeared on NBC's "Meet the Press." Graham was interviewed on CNN's "State of the Union."

___

Associated Press writer Erica Werner contributed to this report.

Source: http://news.yahoo.com/senators-caution-immigration-deal-not-final-231756998--politics.html

dobie gray bruce springsteen grammy nominations lil boosie bobbi kristina brown new edition austerity

Easter bunny horror stories: Resist the urge to give rabbits, ducks, chicks

Easter bunny horror stories are a post holiday tradition, say animal control officials across the US. The cute gifts ? rabbits, ducks, chicks ? suddenly get abandoned or maltreated because they were impulse buys. Pubescent bunny behavior is not cute; and the fowl mess can be a rude surprise.

By Andrew Averill,?Correspondent / March 30, 2013

Easter bunny horror stories are a post-Easter tradition in the US, say animal control and rescue officials who see an uptick in abandoned rabbits, ducklings, and chicks at Easter and advise against impulse buys. A Muscovy duck named Quasimodo watches two Pekin ducks play in a pool at The Lucky Duck Rescue & Sanctuary in Sun Valley, Calif., August 2011.

Lydia Yasuda/AP

Enlarge

For Easter, when Lindsay Durfee?s sister-in-law Kelley was young and sweet and wide-eyed, her parents bought her a team of ducklings. Kelley and her family, Ms. Durfee says, lived on a lake in Orlando, Fla., populated with different species of wildlife.?

Skip to next paragraph

' + google_ads[0].line2 + '
' + google_ads[0].line3 + '

'; } else if (google_ads.length > 1) { ad_unit += ''; } } document.getElementById("ad_unit").innerHTML += ad_unit; google_adnum += google_ads.length; return; } var google_adnum = 0; google_ad_client = "pub-6743622525202572"; google_ad_output = 'js'; google_max_num_ads = '1'; google_feedback = "on"; google_ad_type = "text"; google_adtest = "on"; google_image_size = '230x105'; google_skip = '0'; // -->

So, shouldering a video camera to record it, young Kelley marched her Easter ducklings to the water like a drum major. But nature was ahead of her: before she and the ducks reached the edge of the lake, a large bird ? probably a heron? swooped down and made off with a duckling by its neck. The gory detail of what happened next is PG-13; but suffice to say, says Durfee, the videotape captured it and Kelley's scream.?

?It's one of those stories that comes up every year,? Durfee wrote in an e-mail to the Monitor. To this day, says Durfee, "My husband and I laugh until we cry over how appalling it is!??

Pet horror stories are a staple of the post-Easter season in the United States, day animal control and rescue officials. The Easter holiday brings out the duckling, chick, and baby bunny lovers in people. They make an impulse buy, the recipient goes wild with joy for a day, but the honeymoon soon ends and parents scramble to surrender the animals.

Animal rescue staff, traditionally inundated with calls from regretful parents immediately following Easter, are asking consumers to stop and think before buying an animal for Easter, and with good reason.

If, and it?s a big if, the animal doesn?t die from all that Easter excitement, now there?s a growing and soon-to-be mature duck, chicken (worse, a rooster), and rabbit on your hands.

A pubescent rabbit is not one to cuddle. Females are prone to running in circles, lunging, and grunting, says Anne Martin, shelter director for House Rabbit Society?s headquarters in Richmond, Calif. And if you purchased a male? ?The boys will spray urine ... all over the place,? says Ms. Martin, who owns six rabbits and adds that a mature rabbit is a fantastic pet. But they can be quite alarming for a new pet owner whose supplier did not warn them.

Suppliers are also known for selling bunnies that have been taken away from their mothers too soon, says Mary Cotter, vice president of the House Rabbit Society. ???

Ducklings and chicks have their own drawbacks, says Susie Coston director of the Farm Sanctuary shelter.

Like bunnies, ducklings and chicks are extremely fragile. If a child plays with them like a toy instead of fine china, they are likely to die from over-handling, Ms. Coston says.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/E1hxCt8V9fw/Easter-bunny-horror-stories-Resist-the-urge-to-give-rabbits-ducks-chicks

johan santana viktor bout ncaa hockey role models ferdinand porsche gregg williams theraflu