How to Take the "Sting" Out of Investing

How to Take the ?Sting? Out of Investing

by Dr. Mark Skousen, Investment U Contributing Editor
Friday, November 11, 2011: Issue #1641

?Stocks are the cheapest I?ve seen in my lifetime.? ? Ron Baron

Last Friday, my wife and I attended the 20th Annual Baron Investment Conference. Normally Jo Ann has little interest in investing, but this one is unique ? it?s held at the Opera House at Lincoln Center in New York City and offers live entertainment from the world?s top singers, comedians and performers ? all free for shareholders. My wife, Entertainment Editor of Liberty Magazine, loves Broadway.

A record crowd of over 6,000 investors showed up, and latecomers were unable to get into the Opera House.

Founder and CEO Ron Baron didn?t disappoint with his choices this year. Hugh Jackman, the actor/singer, appears as the surprise luncheon performer. He danced, sang and cracked jokes for more than an hour, and announced he will play Jean Val Jean in the film version of Les Mis?rables next year.

And the big entertainment at the end of the day was award-winning singer/songwriter/actor Gordon Sumner, otherwise known as Sting, and the Police. They played all their classic numbers, such as ?Fields of Gold? and ?Shaping my Heart.? It was a rousing end to a great conference.

Sting is an appropriate symbol for what has happened to investors over the past 10 years, suffering from two major bear markets (?00 to ?03 and ?08 to ?09). And 2011 hasn?t been easy, either.

Baron Theme This Year: Go Long!

Founder and CEO Ron Baron chose a contrarian theme this year, ?Go Long.?

He noted that interest rates on Treasuries are at the lowest level since World War II as panicky investors are pouring money into fixed income investments and gold.

Investor fear is creating a remarkable bargain opportunity for stocks, which are selling at only 12 times earnings now. ?Stocks are the cheapest I?ve seen in my lifetime,? he told his audience.

Ron Baron is worth listening to. His Baron mutual funds were solid performers over the years. (For example, they started investing in Apple in 2005, and have several stocks that increased 10,000%, such as Charles Schwab & Co.) He is now a billionaire and a member of the Forbes 400 Richest Americans.

Baron fund managers generally ignore the global macro economy and focus strictly on buying solid growth companies. They are fundamentalists to the core. They hold stocks for five years or more, doing bottom-up research on individual growth companies that are undervalued and well managed. Their managers visit companies, interview executives, speak with employees and talk to competitors. They are traditional investors; they do not invest in gold and commodities.

Several of the Baron investment managers couldn?t help but expressed concern about Europe and other crises around the world.

?European banks need to restructure and recapitalize. Once they do that, Europe will be on its way to recovery,? said one manager.

Another fund manager predicted that the housing market would bottom in the next year. And Ron Baron said that the Federal Reserve is deliberating trying to reignite inflation, which would force people to invest in the stock market. He repeated his advice: ?Go long!?

One attendee asked Ron Baron what advice he would give President Obama and Congress to get the economy going again. He?s not usually political, but his answer drew a lot of applause: ?Resign.?

Baron has several top-rated funds, most of which are rated either five or four stars by Morningstar. I recommend the Baron Growth Fund (BGRFX), managed by Ron Baron himself. It has a four-star rating, and is beating the market again this year. You can buy the Baron Growth Fund directly or through a discount broker like Schwab.

I suggest you add it to your portfolio and attend next year?s Baron Investment Conference in New York City. But come early.

Good investing,

Mark Skousen

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Source: http://www.investmentu.com/2011/November/take-the-sting-out-of-investing.html

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Deaths at Occupy camps bring pressure for shutdown (AP)

OAKLAND, Calif. ? Oakland police handed out eviction notices at an anti-Wall Street encampment and officials elsewhere urged an end to similar gatherings as pressures against Occupy protest sites mounted in the wake of three deaths in different cities, including two by gunfire.

Police first pleaded with and then ordered Occupy Oakland protesters to leave their encampment at the City Hall plaza where a man was shot and killed Thursday.

Officers acting at the direction of Mayor Jean Quan distributed fliers to protesters late Friday afternoon warning that the camp violates the law and must be disbanded immediately. The notices warned campers they would face arrest if tents and other materials were not removed, although the warnings did not say by when.

The city issued similar written warnings before officers raided the encampment before dawn on Oct. 25 with tear gas and bean bags projectiles before arresting 85 people. A day later, Quan allowed protesters to reclaim the disbanded site and the camp has grown substantially since then.

Earlier, the Oakland Police Officer's Association issued an open letter saying the camp is pulling officers away from crime-plagued neighborhoods.

"With last night's homicide, in broad daylight, in the middle of rush hour, Frank Ogawa Plaza is no longer safe," the letter said. "Please leave peacefully, with your heads held high, so we can get police officers back to work fighting crime in Oakland neighborhoods."

City Council President Larry Reid said outside City Hall on Friday that the shooting was further proof the tents must come down. He was confronted by a protester who said he wouldn't be in office much longer.

"You didn't elect me," Reid snapped back. "You probably ain't even registered to vote!"

The Oakland shooting occurred the same day a 35-year-old military veteran apparently shot himself to death in a tent at a Burlington, Vt., Occupy encampment.

In Vermont, police said a preliminary investigation showed the veteran fatally shot himself in the head in a tent in City Hall Park.

The death of the Chittenden County man raised questions about whether the protest would be allowed to continue, said Burlington police Deputy Chief Andi Higbee.

"Our responsibility is to keep the public safe. When there is a discharge of a firearm in a public place like this it's good cause to be concerned, greatly concerned," Higbee said.

On Friday, a man believed to be in his 40s was found dead inside a tent at the Occupy Salt Lake City encampment, from what police said was a combination of drug use and carbon monoxide.

The discovery led police to order all protesters to leave the park where they have camped for weeks. The man has not been identified.

Group organizers said many of the roughly 150 protesters plan to go to jail rather than abandon the encampment.

"We don't even know if this is a tragedy or just natural," protest organizer Jesse Fruhwirth said. "They're scapegoating Occupy."

Salt Lake City police Chief Chris Burbank said officers have made 91 arrests at the camp, roughly the same number seen in the area during all of the last year.

A preliminary investigation into the Oakland shooting suggested it resulted from a fight between two groups of men at or near the encampment, police Chief Howard Jordan said. Investigators do not know if the men in the fight were associated with Occupy Oakland, he said.

Protesters said there was no connection between the shooting and the camp.

The coroner's office said it was using fingerprints to identify the victim and that a positive identification was not likely to be released before Monday.

Protesters have been girding for another police raid as several City Council members have said the Oakland camp must go. After police cleared the camp last month, Quan changed course and allowed protesters to return.

Tensions were also high at the 300-tent encampment in Portland, Ore., which has become a hub for the city's homeless people and addicts.

Mayor Sam Adams ordered the camp shut down by midnight Saturday, saying the tipping point came this week with the arrest of a camper on suspicion of setting off a Molotov cocktail outside an office building, as well as two non-fatal drug overdoses at the camp.

"I cannot wait for someone to die," he said. "I cannot wait for someone to use the camp as camouflage to inflict bodily harm on others."

Many at the camp said they would resist any effort to remove them.

"There will be a variety of tactics used," said organizer Adriane DeJerk, 26. "No social movement has ever been successful while being completely peaceful."

Police said some elements inside the camp may be building shields and makeshift weapons, including nails hammered into wood, while trying to gather gas masks.

"If there are anarchists, if there are weapons, if there is an intention to engage in violence and confrontation, that obviously raises our concerns," Portland police Lt. Robert King said.

___

Associated Press writers Dave Gram in Burlington, Vt., Nigel Duara in Portland, Ore., Josh Loftin and Brian Skoloff in Salt Lake City and Sudhin Thanawala and Marcus Wohlsen in San Francisco contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111112/ap_on_re_us/us_occupy_protests

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At Paterno house, a quiet calm before, after game

People gather outside the home of former Penn State football coach Joe Paterno after their 17-14 loss to Nebraska in an NCAA college football game, Saturday, Nov. 12, 2011 in State College, Pa. (AP Photo/Alex Brandon)

People gather outside the home of former Penn State football coach Joe Paterno after their 17-14 loss to Nebraska in an NCAA college football game, Saturday, Nov. 12, 2011 in State College, Pa. (AP Photo/Alex Brandon)

People place a sign outside the home of former Penn State football coach Joe Paterno after the Nittany Lions NCAA college football game against Nebraska, Saturday, Nov. 12, 2011 in State College, Pa. (AP Photo/Alex Brandon)

Penn State quarterbacks coach Jay Paterno, gets in his car at his father's home after their 17-14 loss to Nebraska in an NCAA college football game, Saturday, Nov. 12, 2011 in State College, Pa. (AP Photo/Alex Brandon)

Kenny Jackson, former Penn State wide receiver, embraces a supporter at the home of Joe Paterno, Saturday, Nov. 12, 2011 in State College, Pa. Penn State played for the first time in decades without former head coach Joe Paterno, after he was fired in the wake of a child sex abuse scandal involving a former assistant coach. (AP Photo/Alex Brandon)

Sue Paterno waves to the crowd in front of her, and her husband Joe Paterno's home, after their game with the University of Nebraska Saturday, Nov. 12, 2011 in State College, Pa. Penn State played for the first time in decades without former head coach Joe Paterno, after he was fired in the wake of a child sex abuse scandal involving a former assistant coach. (AP Photo/Alex Brandon)

STATE COLLEGE, Pa. (AP) ? On the first fall Saturday he hasn't coached football since Harry Truman was president, Joe Paterno was out of sight but not out of the minds of Penn State students and supporters.

While he apparently spent the day elsewhere ? returning home only after the game had ended and heading directly inside, about 75 students, fans and even a former player milled around his front lawn in the late afternoon, leaving signs and cheering when his wife, Sue Paterno, blew them kisses and thanked them for their support during what she called a "difficult week" for her and her family.

"We've always thought of Penn State as a family ... we will be again," she said, before going back inside.

Paterno's son Jay, who was on the sidelines during Penn State's 17-14 loss to Nebraska, told reporters after the game that his father had planned to watch it on television but didn't say where.

"He wanted to make sure that the guys he coached and the guys he felt very close to would understand that he was part of us, he still wanted to be part of this and he was pulling for them and cheering for them," Jay Paterno said.

Later, he walked from Beaver Stadium to the Paterno residence to collect his green SUV in the driveway and got a standing ovation from the crowd.

There was little other activity at the Paterno house during the day, a week after Jerry Sandusky ? the coach's one-time heir apparent ? was charged with sexually abusing eight boys over 15 years and two school administrators were charged with failing to report suspected child abuse to authorities.

Outside Beaver Stadium, fans flocked to a statute of Joe Paterno even after kickoff, posing for photos and signing a banner that said, "God bless Joe Paterno."

"He's not the one who did the deed," said Tom Moldovan, 49, a salesman from Huntington, N.Y., carrying a sign for wesupportpaterno.com. "He did what he was supposed to do."

The idea that the coach, who had been on the sidelines of Penn State football games since the Truman administration, might be home watching it on television struck many fans as almost too sad for words.

"How can you lose a whole legacy in three or four days?" said Harold Hunt, 57, a York law firm employee at a tailgate party. "It's like a Greek tragedy."

Though Paterno kept a low profile during the day, his name and image won't disappear from campus anytime soon.

Inside the Paterno Library, funded in part by a $3.5 million donation from Paterno himself several years ago, biochemistry undergraduate Chris Natale said the 84-year-old's work on behalf of the wider university was a big part of his legacy.

"He's going to live on for Penn State forever," said Natale, who was working on immunology homework while most of the school was watching the game. "I still like his library."

Peachy Paterno ? peach ice cream with peach slices ? sold briskly on Saturday at the Berkey Creamery on campus, and there was word that "Paternoville" ? the tent encampment that springs up so students can reserve the best seats at home games ? would be keeping its moniker.

Other fans expressed their feelings with signs and T-shirts.

"He should definitely be here, in the coaching box," said Anthony Madanat, 20, a Downingtown student wearing a "I (heart) Joe, thanks for the memories, 62 years of great service" T-shirt outside Beaver Stadium.

"But I think it's just time to start fresh, start a new era," Madanat said.

A few blocks from the Paterno home, work has begun on another, more visible and more permanent part of the Paterno family legacy. The Suzanne Pohland Paterno Catholic Student Faith Center is under construction.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2011-11-12-Penn%20State-Paterno/id-5787c2ca9c904d86ab3f09a5910cd2c8

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E-Trade ends review with no plans for sale

NEW YORK (AP) ? Online broker E-Trade Financial Corp. shares plunged nearly 5 percent in after-market trading following its announcement that it had concluded a strategic review and has no plans for a sale.

Shares fell 34 cents to close at $9.48. After it made the announcement, shares fell 46 cents, or 4.9 percent.

The company said it has concluded the review begun in August that was designed to consider all alternatives including a possible sale. The board unanimously determined that the continued execution of the company's business plan is currently the best alternative, it said.

That also was the recommendation of Goldman Sachs & Co., hired as an adviser for the review.

E-Trade's largest shareholder and bondholder, Citadel Advisors LLC, pushed the company earlier this year to seek a buyer.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-11-10-ETrade%20Financial-Strategic%20Review/id-786c9ba97a09430ebfb6e418ea5ffb9b

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Biological clock controls activation of skin stem cells

ScienceDaily (Nov. 10, 2011) ? A new study reveals the role of the daily biological clock (circadian rhythms) in the regenerative capacity of skin stem cells. Disruption of this rhythm results in premature tissue ageing and a greater predisposition to the development of skin tumours. The proper reestablishment of the biological clock increases the long-term regenerative capacity of the tissue and decreases the probability of developing tumours.

Researchers from the Epithelial Homeostasis and Cancer group at the Centre for Genomic Regulation (CRG) have carried out a study which is to be published in the journal Nature, describing how circadian rhythms, that is the internal biological clock which controls our behaviour during the day and night, regulate the function of the cells which are responsible for the daily regeneration of the skin (the skin stem cells).

Stem cells regulate cell replacement in tissues. In the case of the skin, they are responsible for constantly producing new cells to replace those that deteriorate through daily use. Correct function of the stem cells is essential for maintaining healthy tissue throughout the life an organism. The skin is exposed to various harmful agents through the day, such as ultraviolet light during daylight hours, and pathogens such as bacteria and viruses. The main function of the skin is to protect an organism from these potential dangers, whilst being an impermeable barrier separating our body from the outside world.

The researchers involved in the study have found that the behaviour of skin stem cells is regulated by an internal biological clock, and that the correct function of this clock is necessary in order to maintain the tissue. This clock regulates the behaviour of stem cells in such a way that, for example, during the peak hours of light exposure, the cells are able to protect themselves from harmful radiation (the main cause of skin cancer), whilst in the evening and at night they can divide and regenerate the tissue replacing damaged cells with healthy ones. In this way, the biological clock allows stem cells to divide at times when the skin is no longer exposed to possible damage, when it would be more vulnerable to the accumulation of mutations in DNA and which would cause a loss of regenerative capacity, or a higher predisposition to tumour development.

"Therefore, the biological clock enables the precise adjustment of the temporal behaviour of stem cells, in such a way that the system adapts to the needs of the tissue according to the time of day and there is constant replacement of the cells of the tissue with minimal risk of accumulating DNA mutations. If this control is lost, stem cells may accumulate DNA damage, and the likelihood of cell ageing and generation of tumours increases significantly." says Salvador Aznar Benitah, coordinator of the study.

The genes Bmal1 and Period1/2 are responsible for controlling this rhythm and regulating cell regenerative activity or rest. Through the genetic manipulation of both genes, the researchers showed that disruption of the biological clock in skin stem cells prevented the cells from knowing when to exercise which function, and that this caused long-term problems in cellular ageing and tissue generation. Moreover, the arrhythmia in the clock also significantly increased the propensity to develop a type of skin cancer which is one of the most commonly diagnosed cancers in industrialised societies.

The biological clock (commonly known as the "circadian rhythm") arranges all of our biological functions according to the natural cycles of light and darkness to which we are exposed on a daily basis. The results of the group from the Centre for Genomic Regulation show that skin regeneration, essential to prevent from ageing and tumour development, is also subject to these rhythms. As we age, the accuracy of this biological clock tends to fade gradually with changes in our daily routine, specially with those who are exposed to constant changes like jet lag in frecuent flyers. Researchers believe this may eventually cause failure in the regenerative capacity of our tissues and consequent ageing, and, in addition, a greater propensity to tumour development. More research will be needed in the future to understand why the biological clock fades as we age, and whether ways to restore a ?young? clock can be developed to slow down the tissue degeneration process and reduce the risk of developing tumours.

The study was carried out using mouse skin cells, with the support of the American Institute for Cancer Research (AICR), the Spanish Ministry of Health and the Agency for Management of University and Research Grants (AGAUR). The study involved researchers from the IRB in Barcelona, Ohio State University in the USA and the University of Fribourg in Switzerland.

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The above story is reprinted from materials provided by Centre for Genomic Regulation.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Peggy Janich, Gloria Pascual, Anna Merlos-Su?rez, Eduard Batlle, J?rgen Ripperger, Urs Albrecht, Karl Obrietan, Luciano Di Croce, Salvador Aznar Benitah. The circadian molecular clock creates epidermal stem cell heterogeneity. Nature, 2011; DOI: 10.1038/nature10649

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2011/11/111110092354.htm

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