I am somewhat familiar with Whole Foods. I would think in a slow economy, they would suffer more. As people start watching their money a little closer, they will start shopping at Wal Mart instead of buying overpriced organic produce. I see it in my market now.
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<HR style="COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->I am somewhat familiar with Whole Foods. I would think in a slow economy, they would suffer more. As people start watching their money a little closer, they will start shopping at Wal Mart instead of buying overpriced organic produce. I see it in my market now.
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Good points and something I left on the cutting room floor when making my comments. I do think the average household income for Whole Foods is much greater than Wal-mart, but they could see some revenue loss should the economy become shaky. However, we will also have much greater problems as a whole if that is the case.
Official Rx music critic and beer snob
Join Date: Sep 2004
Location: SW Michigan - In the Shadow of the Golden Dome
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<HR style="COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->I am somewhat familiar with Whole Foods. I would think in a slow economy, they would suffer more. As people start watching their money a little closer, they will start shopping at Wal Mart instead of buying overpriced organic produce. I see it in my market now.
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Good points and something I left on the cutting room floor when making my comments. I do think the average household income for Whole Foods is much greater than Wal-mart, but they could see some revenue loss should the economy become shaky. However, we will also have much greater problems as a whole if that is the case.
News from Citibank today, not unexpected:
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<BIG class=pr>AP</BIG>
Citi Loses Almost $10B, Slashes Dividend
Tuesday January 15, 3:12 pm ET
By Madlen Read, AP Business Writer <TABLE height=4 cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD height=4></TD></TR></TBODY></TABLE>Citi Loses Almost $10B in 4Q, Slashes Dividend, Gets $12.5B Investment After Hefty Write-Downs
NEW YORK (AP) -- Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in its 196-year history, and slashed its dividend and 4,200 jobs as it recorded a mammoth write-down for bad bets on the mortgage industry.
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<IFRAME marginWidth=0 marginHeight=0 src="http://ad.doubleclick.net/adi/N5043.yahoocom/B2625737.3;sz=300x250;dcopt=rcl;click=http://us.ard.yahoo.com/SIG=12fd2u2en/M=626899.11742544.12469774.1383221/D=fin/S=8988914:LREC/Y=YAHOO/EXP=1200436749/A=5133107/R=0/*;ord=1200429549736677?" frameBorder=0 width=300 scrolling=no height=250 BORDERCOLOR="#000000"><SCRIPT language='JavaScript1.1' SRC="http://ad.doubleclick.net/adj/N5043.yahoocom/B2625737.3;abr=!ie;sz=300x250;dcopt=rcl;click=http://us.ard.yahoo.com/SIG=12fd2u2en/M=626899.11742544.12469774.1383221/D=fin/S=8988914:LREC/Y=YAHOO/EXP=1200436749/A=5133107/R=1/*;ord=1200429549736677?"></SCRIPT><NOSCRIPT>
</NOSCRIPT></IFRAME></TD></TR></TBODY></TABLE><SCRIPT language=javascript>if(window.yzq_d==null)window.yzq_d=new Object();window.yzq_d['.hjmGkLaX.4-']='&U=13bi7uhog%2fN%3d.hjmGkLaX.4-%2fC%3d626899.11742544.12469774.1383221%2fD%3dLREC%2fB%3d5133107';</SCRIPT><NOSCRIPT></NOSCRIPT></TD></TR></TBODY></TABLE>The nation's largest bank wrote down the value of its portfolio by $18.1 billion and said it was setting aside $4 billion to cover U.S. consumer credit defaults. It signaled further problems in its consumer businesses as deflated home prices, high energy and food costs, and rising unemployment weigh on people's ability to keep up with their payments.
The reduction of 4,200 jobs in the fourth quarter is in addition to 17,000 layoffs announced in the spring, and chief financial officer Gary Crittenden said during a conference call that more job cuts would be on the way.
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
To bolster its capital, the bank also said Tuesday it has lined up $12.5 billion in new investments from sovereign wealth funds and existing shareholders.
That includes $6.88 billion from the Government of Singapore Investment Corp. for a 4 percent stake. Other investors were Capital Research Global Investors, Capital World Investors, the Kuwait Investment Authority, the New Jersey Division of Investment, shareholder Prince Alwaleed bin Talal of Saudi Arabia and former chief executive Sanford Weill and his family foundation.
The $12.5 billion in fresh equity adds to the $7.5 billion that Citi got in November from the Abu Dhabi Investment Authority in exchange for a 4.9 percent stake in the company.
Citigroup's shares, which were trading around $55 a year ago, fell $1.98, or 6.8 percent, to $27.08 in morning dealings on Tuesday.
The loss for the quarter totaled $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter a year earlier. Citigroup's revenue fell to $7.22 billion, down 70 percent from $23.83 billion in the final quarter of 2006.
Citigroup said the 41 percent cut in its quarterly dividend to 32 cents a share from 54 cents -- along with the Asian investments and a stock offering of about $2 billion -- will help boost its Tier 1 capital ratio, a measure of its financial strength. But it will also dilute the value of shareholders' stock.
Financial companies have been the highest dividend-paying sector in the stock market, but many -- including Washington Mutual Inc., National City Corp. and the government-sponsored lenders Freddie Mac and Fannie Mae -- have pared those payouts in recent months.
Citigroup's decision to cut its dividend and seek new cash from outside investors was widely anticipated on Wall Street after months of scrutiny over the bank's deteriorating operations. The biggest was Citigroup's bad bets on mortgage-backed bond instruments called collateralized debt obligations. It also was forced to bring $49 billion in hemorrhaging funds known as structured investment vehicles onto its books.
Over the past several weeks, Asian funds have been buying up the battered stocks of struggling U.S. banks. Early Tuesday, Merrill Lynch said it will receive a total of $6.6 billion from the Korean Investment Corp., Kuwait Investment Authority and Japan's Mizuho Corporate Bank -- in addition to the $4.4 billion it has already gotten from Singapore's state-run Temasek Holdings.
Pandit said Citigroup would continue to sell "non-core" assets. The bank has already sold shares in Redecard, a card business in Latin America, and an ownership interest in a unit of the Japanese brokerage Nikko Cordial it bought last year.
Citigroup's $18.1 billion writedown was significantly wider than the $6 billion writedown it took in the third quarter last year, and bigger than the $8 billion to $11 billion it guessed in October that it would take for the fourth quarter.
Citigroup said as of Dec. 31, it had a total of $37.3 billion in direct subprime mortgage exposure, down from $54.6 billion three months prior.
It was not all bad news for Citigroup, as the bank recorded record results in its international consumer, transaction services and wealth management segments.
But the bank's strengths were not nearly big enough to offset its weaknesses.
Citi's full-year net income for 2007 fell 83 percent to $3.62 billion, or 72 cents a share, versus a year ago. AP Business Writer Stephen Bernard contributed to this report.
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<BIG class=pr>AP</BIG>
Citi Loses Almost $10B, Slashes Dividend
Tuesday January 15, 3:12 pm ET
By Madlen Read, AP Business Writer <TABLE height=4 cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD height=4></TD></TR></TBODY></TABLE>Citi Loses Almost $10B in 4Q, Slashes Dividend, Gets $12.5B Investment After Hefty Write-Downs
NEW YORK (AP) -- Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in its 196-year history, and slashed its dividend and 4,200 jobs as it recorded a mammoth write-down for bad bets on the mortgage industry.
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The reduction of 4,200 jobs in the fourth quarter is in addition to 17,000 layoffs announced in the spring, and chief financial officer Gary Crittenden said during a conference call that more job cuts would be on the way.
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
To bolster its capital, the bank also said Tuesday it has lined up $12.5 billion in new investments from sovereign wealth funds and existing shareholders.
That includes $6.88 billion from the Government of Singapore Investment Corp. for a 4 percent stake. Other investors were Capital Research Global Investors, Capital World Investors, the Kuwait Investment Authority, the New Jersey Division of Investment, shareholder Prince Alwaleed bin Talal of Saudi Arabia and former chief executive Sanford Weill and his family foundation.
The $12.5 billion in fresh equity adds to the $7.5 billion that Citi got in November from the Abu Dhabi Investment Authority in exchange for a 4.9 percent stake in the company.
Citigroup's shares, which were trading around $55 a year ago, fell $1.98, or 6.8 percent, to $27.08 in morning dealings on Tuesday.
The loss for the quarter totaled $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter a year earlier. Citigroup's revenue fell to $7.22 billion, down 70 percent from $23.83 billion in the final quarter of 2006.
Citigroup said the 41 percent cut in its quarterly dividend to 32 cents a share from 54 cents -- along with the Asian investments and a stock offering of about $2 billion -- will help boost its Tier 1 capital ratio, a measure of its financial strength. But it will also dilute the value of shareholders' stock.
Financial companies have been the highest dividend-paying sector in the stock market, but many -- including Washington Mutual Inc., National City Corp. and the government-sponsored lenders Freddie Mac and Fannie Mae -- have pared those payouts in recent months.
Citigroup's decision to cut its dividend and seek new cash from outside investors was widely anticipated on Wall Street after months of scrutiny over the bank's deteriorating operations. The biggest was Citigroup's bad bets on mortgage-backed bond instruments called collateralized debt obligations. It also was forced to bring $49 billion in hemorrhaging funds known as structured investment vehicles onto its books.
Over the past several weeks, Asian funds have been buying up the battered stocks of struggling U.S. banks. Early Tuesday, Merrill Lynch said it will receive a total of $6.6 billion from the Korean Investment Corp., Kuwait Investment Authority and Japan's Mizuho Corporate Bank -- in addition to the $4.4 billion it has already gotten from Singapore's state-run Temasek Holdings.
Pandit said Citigroup would continue to sell "non-core" assets. The bank has already sold shares in Redecard, a card business in Latin America, and an ownership interest in a unit of the Japanese brokerage Nikko Cordial it bought last year.
Citigroup's $18.1 billion writedown was significantly wider than the $6 billion writedown it took in the third quarter last year, and bigger than the $8 billion to $11 billion it guessed in October that it would take for the fourth quarter.
Citigroup said as of Dec. 31, it had a total of $37.3 billion in direct subprime mortgage exposure, down from $54.6 billion three months prior.
It was not all bad news for Citigroup, as the bank recorded record results in its international consumer, transaction services and wealth management segments.
But the bank's strengths were not nearly big enough to offset its weaknesses.
Citi's full-year net income for 2007 fell 83 percent to $3.62 billion, or 72 cents a share, versus a year ago. AP Business Writer Stephen Bernard contributed to this report.
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GD,
I appreciate you posting your stock picks. Reading some of your posts down here in the past, you seem to know more about the market than the average joe. And you certainly have mad courage to post your picks for the year.
The good:
although I don't know much about these stocks, I have heard some experts give props to PFE and BUD. Good for troubled times. Also like JMBA but not with the current tide going against retailers and restaurants. Same for JSDA. Great company and products, but they won't fare well with all the carnage going on lately.
The bad:
I once saw a snippet of an interview with the CEO of WFMI. The whole story was about how WFMI cares about the community and making this world a better place to live. They were talking (bragging) about how they didn't mind spending more on "green" electricity. That's nice, if you run a church. Not something I want to hear from the CEO of a company I am investing in.
C. I heard W. Buffet say it takes 20 years to make a reputation and 10 minutes to kill one. C is withering on the vine. This thing goes to 20.
What am I doing you ask? About 80% short or buying puts. QID, DXD, and SKK are high on my list. I also like YHOO.
I appreciate you posting your stock picks. Reading some of your posts down here in the past, you seem to know more about the market than the average joe. And you certainly have mad courage to post your picks for the year.
The good:
although I don't know much about these stocks, I have heard some experts give props to PFE and BUD. Good for troubled times. Also like JMBA but not with the current tide going against retailers and restaurants. Same for JSDA. Great company and products, but they won't fare well with all the carnage going on lately.
The bad:
I once saw a snippet of an interview with the CEO of WFMI. The whole story was about how WFMI cares about the community and making this world a better place to live. They were talking (bragging) about how they didn't mind spending more on "green" electricity. That's nice, if you run a church. Not something I want to hear from the CEO of a company I am investing in.
C. I heard W. Buffet say it takes 20 years to make a reputation and 10 minutes to kill one. C is withering on the vine. This thing goes to 20.
What am I doing you ask? About 80% short or buying puts. QID, DXD, and SKK are high on my list. I also like YHOO.
Presto,
Can't argue with anything you say. You are definitely one of the sharp minds on here. Like I've said, I could lose 10% this year on my picks and still come out ahead if the market is as brutal as it is looking early.
I never professed to be the expert or guru on the topic, just an average joe with a more than passing interest. There are many posters on here and others elsewhere I respect and know have more knowledge than me.
I'll never forget the day JSDA has run all the way up to 31, from 8 in about two weeks. I'm crowing about it at work, and my one boss (who while a bit of a prick knew his shit) said they can't sustain the margins, etc.etc. with great reasoning. I sold it the next day and about a month later it was at 12 and I walked up to him and kissed the ring on his finger.
He was like "what the fuck was that for?". I said "that was for about 200 g's, sir".
He walked off puzzled, I didn't. Moral of the story, listen to the people who are smarter than you.
Can't argue with anything you say. You are definitely one of the sharp minds on here. Like I've said, I could lose 10% this year on my picks and still come out ahead if the market is as brutal as it is looking early.
I never professed to be the expert or guru on the topic, just an average joe with a more than passing interest. There are many posters on here and others elsewhere I respect and know have more knowledge than me.
I'll never forget the day JSDA has run all the way up to 31, from 8 in about two weeks. I'm crowing about it at work, and my one boss (who while a bit of a prick knew his shit) said they can't sustain the margins, etc.etc. with great reasoning. I sold it the next day and about a month later it was at 12 and I walked up to him and kissed the ring on his finger.
He was like "what the fuck was that for?". I said "that was for about 200 g's, sir".
He walked off puzzled, I didn't. Moral of the story, listen to the people who are smarter than you.
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Official Rx music critic and beer snob
Join Date: Sep 2004
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<hr style="color: rgb(253, 222, 130);" size="1"><!-- / icon and title --><!-- message -->I am somewhat familiar with Whole Foods. I would think in a slow economy, they would suffer more. As people start watching their money a little closer, they will start shopping at Wal Mart instead of buying overpriced organic produce. I see it in my market now.
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Good points and something I left on the cutting room floor when making my comments. I do think the average household income for Whole Foods is much greater than Wal-mart, but they could see some revenue loss should the economy become shaky. However, we will also have much greater problems as a whole if that is the case.
I'm sure the average income of a Whole Foods customer is higher, but you have to factor in many of those people live way over their means - two car payments, huge mortgage, rental property, etc and would be hit harder in a economic downturn. Wal-Mart shoppers definately watch their money more, use coupons, and are new families.
I hope you're right because that means the economy is doing better. I have some thoughts on Budweiser I'll share later.
How do casino stocks fare?
Whole Foods Invaded
Worth checking out if you havent. The WalMart counter punch to Whole Foods
http://www.msnbc.msn.com/id/22640080/
Worth checking out if you havent. The WalMart counter punch to Whole Foods
http://www.msnbc.msn.com/id/22640080/
Dobbie,
Not sure how much you follow each of these companies, but FDA suspended drug research/trials on their drug to cure Lou Gehrig's disease. I got into CytRx at 2.08, right before the FDA's announcement which took it all the way into the middle $1 range before coming back up to 2.00 this week. If you have any other info about CytRx, I'd like to hear it. Stay strong, hold it long...
:money8:
Yes, saw the news on CYTR last week. I'm sure you get the same info I do as I have them set in my portfolio. I have nothing that the general public would get if that is what you are asking.
CYTR is certainly a speculative investment, but they have some really solid people working for them and it could be a huge hit. I wouldn't recommend a large percentage of your portfolio allocated to them, but it should make up part of that 20-30% of speculative stocks (note: this percentage would be greater or lesser depending on your age).
CYTR is certainly a speculative investment, but they have some really solid people working for them and it could be a huge hit. I wouldn't recommend a large percentage of your portfolio allocated to them, but it should make up part of that 20-30% of speculative stocks (note: this percentage would be greater or lesser depending on your age).
GreenDoberman, I have been looking around this forum a bit and wish you luck. My sister turned me on to Fresh and Easy about a month ago and it is awesome there! Best fresh squeezed OJ I've ever had! You have to check out a store as I think they might be a good investment for your portfolio
January 2008 Summary
As expected, January was a very topsy-turvy month for the stock markets. It took two rate cuts by the Federal Reserve to save what whould have been a disastrous month. The Dow Jones Industrial Average finished in the negative for the month* with a return of -3.93%. The S & P and NASDAQ averages fared significantly worse with returns of -4.9% and -9.01%, respectively.
Despite finishing in negative territory as well, the GreenDoberman Rx Portfolio significantly defeated the market averages in January. Bolstered by gains in value stocks, the portfolio returned -2.47% for the month* excluding dividends. Rebounding from a disastrous start to the month, investors sought positions in value stocks and oversold equities.
Here are the best and worst perfomers for the portfolio:
Top 5
1) TZOO +25.07% (Investors saw the value in this internet travel company)
2) JBLU +16.78% (Dropped sharply early in month, recommendation to buy more at low resulted in even greater gains)
3) MSSR +15.84% (After disastrous 2007 is rebounding nicely, and the food is good too)
4) BWLD +9.17% (Raise your glass and wings to the rapidly growing chain)
5) PFE +3.78% (Bargain bin drug maker is solid defensive play going forward)
Bottom 5
1) CYTR -29.23% (Volatile speculative play can gain or lose 20% a day)
2) JMBA -18.93% (Still awaiting any good news to give this stock some juice)
3) BUD -8.18% (Another defensive play that should be solid going forward)
4) D -8.10% (Coming back to earth a little in price, but still a long term winner)
5) VLCM -8.08% (Sank early in month but is rising quickly and gaining believers
Averages*:
DJIA -3.93%
NASDAQ -9.01%
S&P -4.90%
GD/Rx -2.47%
*-All prices are through Friday, 2/1/08. No dividends are included in calculation of returns.
As expected, January was a very topsy-turvy month for the stock markets. It took two rate cuts by the Federal Reserve to save what whould have been a disastrous month. The Dow Jones Industrial Average finished in the negative for the month* with a return of -3.93%. The S & P and NASDAQ averages fared significantly worse with returns of -4.9% and -9.01%, respectively.
Despite finishing in negative territory as well, the GreenDoberman Rx Portfolio significantly defeated the market averages in January. Bolstered by gains in value stocks, the portfolio returned -2.47% for the month* excluding dividends. Rebounding from a disastrous start to the month, investors sought positions in value stocks and oversold equities.
Here are the best and worst perfomers for the portfolio:
Top 5
1) TZOO +25.07% (Investors saw the value in this internet travel company)
2) JBLU +16.78% (Dropped sharply early in month, recommendation to buy more at low resulted in even greater gains)
3) MSSR +15.84% (After disastrous 2007 is rebounding nicely, and the food is good too)
4) BWLD +9.17% (Raise your glass and wings to the rapidly growing chain)
5) PFE +3.78% (Bargain bin drug maker is solid defensive play going forward)
Bottom 5
1) CYTR -29.23% (Volatile speculative play can gain or lose 20% a day)
2) JMBA -18.93% (Still awaiting any good news to give this stock some juice)
3) BUD -8.18% (Another defensive play that should be solid going forward)
4) D -8.10% (Coming back to earth a little in price, but still a long term winner)
5) VLCM -8.08% (Sank early in month but is rising quickly and gaining believers
Averages*:
DJIA -3.93%
NASDAQ -9.01%
S&P -4.90%
GD/Rx -2.47%
*-All prices are through Friday, 2/1/08. No dividends are included in calculation of returns.
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Chargers and Padres 4 life
Join Date: Sep 2007
Location: San Diego
Posts: 79
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<HR style="COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->GreenDoberman, I have been looking around this forum a bit and wish you luck. My sister turned me on to Fresh and Easy about a month ago and it is awesome there! Best fresh squeezed OJ I've ever had! You have to check out a store as I think they might be a good investment for your portfolio
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Jake,
Fresh and Easy is a competitor of Whole Foods. A friend of mine shops there and I've certainly been meaning to check it out both as an investment and as it related to competition for WFMI.
Thanks.
