Apparently the SEC is shifting to a “Let the Buyer Beware” approach to regulation. On August 29, the SEC proposed a rule permitting private issuers to promote offerings to the general investing public for the first time (thank you Dodd-Frank). While the new regulations may ease capital-raising for many legitimate companies, they could also subject … Continued

A recent article in US News & World Report highlighted seven jobs that they described as “underpaid” in that the average median salary was less than the $41,674 national average wage index as calculated by the Social Security Administration. The selected jobs had a high societal need in that the authors projected at least 45,000 … Continued

That was probably good advice in William Shakespeare’s day, but is not applicable in a modern society. Advanced economies require liquidity and seamless credit, which in turn requires responsible lending and borrowing. At any given time, nearly all of us are either borrowers or lenders, often both at the same time. If you have a … Continued

Former Senator George McGovern, Congressional Record, 102nd Congress (1991-1992): “My own business perspective has been limited to that small hotel and restaurant in Stratford, Conn., with an especially difficult lease and a severe recession. But my business associates and I also lived with federal, state and local rules that were all passed with the objective … Continued

I am attaching a copy of a letter that my personal physician sent me. It is somewhat disconcerting – the changing dynamics of healthcare. Your thoughts, interpretations, and comments are welcome. Bob Bilkie, CFA —————————— Health Care in our country is changing. As I reflect on how these changes will affect us, it is becoming … Continued

Natural gas is currently trading at approximately $2.50-3.00/mmBTU (million British Thermal Units) and oil is approximately $80/BBL (barrel). It takes approximately 5.8 mmBTU of natural gas ($15-17) to provide the same amount of heat as one barrel of oil ($80). Both are fossil fuels, although natural gas is generally viewed as relatively less hazardous to … Continued

(This ISN’T the secret, yet.) My nephew once made the mistake of wearing his University of Michigan colors to the annual “grudge match” college football classic in Columbus Ohio, which pits the Wolverines against the Buckeyes of Ohio State. He is a large man, but he acknowledged that he felt quite vulnerable with the taunts … Continued

Healthcare represents 1/6thof the total economy. It is a complex behemoth that cannot be changed overnight. Regardless, the early market analysis of the Supreme Court ruling on the Patient Protection and Affordable Care Act creates winners and losers. Among the “winners” are the hospital companies, Medicare providers and diagnostic testing service providers. The “losers” include … Continued

The June 18, 2012 Wall Street Journal has an article about the large number of small community banks putting themselves up for sale.  The primary issue, according to the article, is the high cost of regulation.  Jamie Dimon, CEO of JP Morgan Chase Bank, noted in his senate testimony last week that his bank probably … Continued

One of the earliest recorded economic experiments may be found in the scripture passage known as the Parable of the Three Talents (Mathew 25:14-30).  In it, Christ speaks of the master who entrusts his wealth (Talents) to his three main lieutenants while he goes on a journey.  When he returns, he compliments the two lieutenants … Continued

After having been born and raised in China, I believe I have some unique observations regarding this sprawling economic juggernaut.  It is well known that China was a contributing factor in pulling the global economy out of its slump in 2009.  This year, China’s growth target is 7.5%, which was announced by Premier Wen Jiabao … Continued

The 20th-century has been referred to as the “American Century”. At the end of the century, the United States (despite two world wars and the Great Depression) emerged as the world’s preeminent power, not only militarily but also economically. During the century, investors did quite well too. The 21st-century could be another period of significant … Continued