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March 27, 2012 – The newly restored dividend is a harbinger of the good things to come at Ford Motor Co. (F:NYSE). The automaker has put its operational house in order resulting in faster response times to evolving markets; production/cost efficiencies stemming from global use of cross-platforms; an attractive product line-up; and, superior overall cost controls. Ford is already debt-free (factoring for its industry) and generating substantial free cash – a trend that will continue.
March 21, 2012 – I do not recommend bonds of virtually every stripe. Think of this analogy: If the market multiple for stocks was 50X earning, just about everyone, pros and amateurs alike, would say the market is outlandishly overvalued. A 10-year U.S. Treasury, currently yielding 2%, is selling at the equivalent of 50X earnings, with a yield that can’t even help to keep pace with inflation.