Good Lord! Or, at least Good Google!

Today’s inspiring Scripture, er quote, comes in the Washington Post:

Because Google does not offer earnings guidance, analysts have traditionally underestimated its performance. Sergey Brin, co-founder and president of technology, said it was analysts who were off target this quarter, not Google.

“If the weatherman predicts rain and it ends up being sunny, it’s not that God was wrong,” he said.

Ah, divinely inspired pithy press quotes. Best gospel since John Lennon said of the Beatles: “We’re more popular than Jesus now.”

Media Bistro’s TV Newser reports:

CNBC is developing an animated series based on the comic strip ‘CEO Dad,’ which could become a half-hour series on the network in the fall,” The Hollywood Reporter reveals.

“Sources said the network will likely air five one-minute shorts that will be cut from a pilot based on the cartoon written by Los Angeles executive recruiter Tom Stern. A half-hour series to air on CNBC could follow, though it’s by no means assured.” It could air in primetime. “It would mark the first time the business channel has delved into animation.” 

The first time?  What, this guy is real?

Interesting fact in the current issue of Business Week:

“Pfizer, with a p-e ratio of 12, is cheaper than it has been since the Hillary Clinton health-care initiatve more than a decade ago.”

Even though I own a few shares of Pfizer, I say, good.  The company’s hit a bad patch recently and the market’s reacted properly.  I’d rather have the market dictate a company’s true value than a politician, Hillary or anyone else.

Who’s thankful for tight political races?  Political junkies, of course.  But so too these are days of financial thanksgiving for the companies which own TV stations where there are tight races.
Consider the S&P Industry Report for Broadcasting & Cable TV (Nov. 18, 2006):

After what we saw as a sluggish 2006-07 TV upfront market, we have seen robust spending on political ads for local TV broadcasters, as well as national/spot cable, buoyed by several tightly contested races in the recently concluded mid-term elections.

With the battle over Congress continuing into 2008 — and both sides wide open for the presidential nomination — perhaps it’s time to buy stock in companies which own TV stations?

With the Dow Jones soaring again, it’s hard to imagine there was a time when not everyone had some form of investment instrument in the stock market.

In his new book, “The Real Deal,” Sandy Weill, who built Citigroup, brings us back to the late ’50s when he began transforming banking, investement, and markets:

As we opened our doors, there were about fifteen million individuals in the United States actively buying stocks — that number was less than 10 percent of the country’s population but was up sharply from only about five million at the start of the 1950s.

Read an excerpt from Weil’s book by clicking here.

Hotair.com has video of CNN on Sept. 11 the morning before the planes hit the World Trace Center. This report was given moments before the breaking news:

“I’m Amanda Lang at the New York Stock Exchange where we could be in for a solid open to the trading day … One stock that could come under pressure is Boeing.”

Let’s pause the global war on terror for a moment to chuckle at this item in today’s Washington Post:

The political repercussions of the war continued with the disclosure by Maariv newspaper that the Israeli military’s chief of staff, Lt. Gen. Dan Halutz, sold his stock portfolio, worth about $27,600, just hours after learning that two Israeli soldiers were seized July 12. The newspaper reported that he phoned his stockbroker as the Israeli cabinet was meeting to decide to go to war.

The Washington Post profiles kenlayisalive.org, from where we learn this:

Washington Post business columnist Jerry Knight wrote his farewell piece in Sunday’s paper.  He offered thoughts on local stocks, saying “I’m getting ready to buy my first stock in a local company.”  Since we’ve been looking for tea leaves indicating whether he would pump or dump his employer, we eagerly read the column.  And the verdict?  Take a look:

For me the issue is not whether to buy media stocks but whether to sell the Post stock that’s accumulated in my 401(k) account. By any objective standard, I own too much of my employer’s stock, which is the most common investing mistake most of us make. Post stock is outperforming its local peers primarily because of the company’s Kaplan education division, which now generates more revenue — and growth — than the newspaper. Analysts rate most of the local media stocks “hold,” and in the case of the Post stock, I think they’re right.

Can’t split the difference any better than that.

Extreme Mortman  had a secret correspondent attend the big Berkshire Hathaway meeting over the weekend to hear legendary rich guy Warren Buffett speak.  Here’s our tipster’s report:

Buffett gave his usual sage advice (end corrupt executive compensation policies; avoid investments in overheated markets like commodities, etc.); ducked the tough questions on succession and why Berkshire isn’t dividending out some of its $40 billion cash pile; and warned about the dire consequences of Bush administration policies he doesn’t agree with (current accounts imbalance will cause severe decline in the dollar; his taxes are too low because his marginal rates are the lowest in his office, etc.)  For humor, maybe the best source was Buffett’s long-time number two, Charlie Munger.  In the opening video, the Desperate Housewives actresses are sitting around a poker table talking about trying to land a billionaire.  Nicolette Sheridan (the blonde) thinks she’s going to get Buffett, but gets Munger instead.  Afterwards, Buffett quips that it’s the lesson of Anna Nicole Smith:  when choosing between old rich guys, always pick the older one.