90 Day Treadmill (Earnings Season Update), Weekend Plans and Texas Rangers

With about 150 companies from the S&P 500 reporting already and a handful more to report today, so far, so good.

90 Day Treadmill AKA Earnings Season

We have been pleasantly surprised by management’s ability to navigate the economic recovery (slower than usual) and do more with less, hiring is slow at best (unemployment is still around 10%). Most surprising to us is management’s forecast for next year, which as we formulate our expectation/guess for next years market return (Q 1 2011 Newsletter), most companies are sticking to their growth expectations for 2011 so far, which bodes well for next year’s capital return. We will keep you updated as we enter the full force of the 90 day treadmill in the next several weeks.

What was that train wreck that ran through the capital markets mid week?

China, with a surprise short term rate increase, moving their rate to about 5.5%, while ours remains at about zero. Their leadership is attempting to slow their fast growth, and caught market participants off guard. This movement shows once again, in our opinion the co-dependency of the world on one another and the importance moving forward, economic success lies not only domestically but across country borders as well.

On Tuesday Donald and I attended a motivational seminar and came away with an interesting quote “It is not where we start in life, but where we end up!” Interesting thought!

Today, I head west to a father/daughter camp out for the weekend to welcome the expected 3 days of rain due here in the Dallas area, and hope for a tether to the real world as the Texas Rangers swing for their first ever bid to the World Series.

Have a Great Day and Super Weekend!


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