The Morning Call---Value is being created

 

The Morning Call

 

9/27/22

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/black-monday-20

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

                           

Month to date retail chain store sales grew slightly faster than in the prior week.

 

The July Case Shiller home price index fell 0.8% versus predictions of +0.2%.

 

July durable goods orders declined 0.2% versus estimates of -0.4%; ex transportation, they rose 0.2%, in line.

 

The September Dallas Fed manufacturing index was reported at -17.2 versus expectations of -5.0.

                          https://www.advisorperspectives.com/dshort/updates/2022/09/26/dallas-fed-manufacturing-growth-up-in-september-but-demand-down

 

                                                 

                        International

 

August Chinese YoY YTD industrial profits fell 2.1% versus consensus of -3.0%.                    

 

                        Other

 

                          Tracking the Euro area growth.

                          https://econbrowser.com/archives/2022/09/tracking-the-euro-area-at-high-frequency

 

                          China lets its currency weaken.

                          https://www.nytimes.com/2022/09/26/business/china-renminbi-currency.html

 

                          Update on four high frequency economic indicators.

                          https://www.calculatedriskblog.com/2022/09/four-high-frequency-indicators-for_26.html

 

                          Three Nord Stream pipelines damaged. Sabotage suspected.

                          https://www.zerohedge.com/commodities/damage-nord-stream-pipelines-unprecedented-may-have-been-sabotaged

 

            The Fed

 

              Sympathizing with the Fed.

              https://blogs.cfainstitute.org/investor/2022/09/22/the-inflation-game-war-peace-and-the-perils-of-central-banking/

 

              Or not.

              https://www.zerohedge.com/markets/markets-crash-monetary-laughing-gas-fades

 

     Bottom line.

 

            Value is being created (ignore the part about JP Morgan).

            https://thereformedbroker.com/2022/09/26/value-creation/

 

            More from the same analyst.

            https://thereformedbroker.com/2022/09/25/bear-in-mind/

 

            In the end, it is all about value.

            https://www.advisorperspectives.com/commentaries/2022/09/26/its-not-enough-to-invest-in-what-you-know

 

            An interview with John Paulson.

            https://www.bloomberg.com/news/articles/2022-09-25/john-paulson-on-frothy-us-housing-market-this-time-is-different?sref=loFkkPMQ

 

            Twenty timeless investing lessons.

            https://www.safalniveshak.com/20-lessons-for-young-and-old-investors/

 

            It’s breaking.

            https://www.pragcap.com/three-things-i-think-i-think-its-breaking/

 

Morgan Staley: Something is about to break.

https://www.zerohedge.com/markets/morgan-stanley-something-about-break

 

    News on Stocks in Our Portfolios

 

Hormel Foods (NYSE:HRL) declares $0.26/share quarterly dividend, in line with previous

 

What I am reading today

 

            Why Adam Smith said virtue is to be more feared than vice.

            https://fee.org/articles/why-adam-smith-said-virtue-is-more-to-be-feared-than-vice/?utm_source=email&utm_medium=email&utm_campaign=2020_FEEDaily

 

The perils of America’s ‘woke’ military.

https://townhall.com/columnists/allenwest/2022/09/26/the-perils-of-americas-woke-military-n2613587

 

The search for intelligent life is about to get more interesting.

https://www.nytimes.com/2022/09/15/magazine/extraterrestrials-technosignatures.html

 

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