FTSE rises for second day as miners push higher

LONDON (MarketWatch) — After rising for two straight weeks, U.K. stocks continued to advance on Monday, with resource firms driving the FTSE 100 index higher, while GlaxoSmithKline PLC dropped after disappointing test results.

The benchmark (UK:UKX)  rose 0.3% to 6,637.92, on track for a second straight day in positive territory. On the quarter, the FTSE was eyeing a 1.6% decline.

Click to Play Europe's week ahead: Crunchtime for the ECB

Pressure is mounting on Mario Draghi and his fellow ECB officials to fight off low inflation, and the policy decision next week will be a close call. Fresh inflation data out Monday could strengthen calls for further easing.

Mining firms helped lift the London index, as they rose alongside higher metals prices. Shares of Rio Tinto PLC (UK:RIO)   (RIO)   (AU:RIO)  gained 2.3%, Anglo American PLC (UK:AAL)  picked up 2.1%, Antofagasta PLC (UK:ANTO)  advanced 1.2% and BHP Billiton PLC (UK:BLT)   (BHP)   (AU:BHP)  rose 1.1%.

The sector also experienced reasonable gains last week, after weak data from China spurred speculation Beijing would launch fresh easing measures to boost the economy and avoid a sharp slowdown.

TRADING STRATEGIES: April MarketWatch photo illustration
• Don't get burned by hot 3D stocks
• Can short-term gold traders start buying?
• Spring Cleaning? Toss homebuilders
• China is no place for an investor
• See full Trading Strategies report /conga/story/2014/04/trading-strategies.html 302069

On Monday, energy firms also showed positive moves, with shares of BG Group PLC (UK:BG)  1.2% higher and Royal Dutch Shell PLC (UK:RDSB)   (RDS.B) rising 0.8%. Oil prices, however, moved slightly lower, but held above the $101-a-barrel level.

On a more downbeat note, shares of GlaxoSmithKline PLC (UK:GSK)   (GSK)  lost 0.8% after the drug maker released disappointing results from a late-stage study of Darapladib, a new heart disease drug.

In data news in the U.K., the Bank of England said the number of loan approvals for house purchases was a weaker-than-expected 70,309 in February, compared with an average of 69,563 over the previous six months.

More must-reads from MarketWatch:

Jobs report to show if economy ready to roll

Shut up already! It's not 1929

Regulators twice failed to open GM probes

Bank of America Needs to Cut More Fat -- and Here's Where to Look

For more than a decade following the merger between NationsBank and BankAmerica Corporation, the new Bank of America (NYSE: BAC  ) set upon a path of greedy acquisition, culminating in the crisis-era buyout of the failing Merrill Lynch brokerage. Of the top 10 bank mergers and acquisitions between 2000 and 2011, Bank of America was involved in four, according to the American Bankers Association.

Acquisitions such as MBNA were problematic, but the Countrywide and Merrill purchases nearly did the bank in. Since taking the helm in 2010, CEO Brian Moynihan has been trying to undo the damage wrought by his predecessors, dumping $60 billion of extra baggage through his Project New BAC.

But the pace of selling assets has slowed, and Moynihan seems less interested in a continuous pruning of the megabank than he once was. But Bank of America is still a behemoth, and there's quite a bit of trimming that could be done if the CEO is serious about restoring the bank's pre-bloat grandeur.

Layoffs won't cut it
For most of this year, Moynihan has been trying to focus more on creating income, rather than slashing away at expenses. Most of the cost savings for 2013 have taken the form of layoffs and branch sales, rather than the selling off of non-core assets.

But peers are also laying off, as the mortgage business tanks. Wells Fargo (NYSE: WFC  ) , by far the biggest mortgage-maker, said in October that it will lay off nearly 1,000 employees in its mortgage division, on top of another 5,300 workers who were previously scheduled to lose their jobs. JPMorgan Chase (NYSE: JPM  ) also laid off more than 2,000 workers last August and plans to close mortgage refinance centers through the end of 2014, culminating in approximately 17,000 layoffs.

More to cut?
But Moynihan had predicted a workforce reduction at Bank of America long before the mortgage slowdown, estimating layoffs totaling 30,000 by the end of 2013. And while the bank has racked up more than $9 billion in pre-tax income so far in 2013, that number is a far cry from Moynihan's 2011 prediction of $35 billion to $40 billion annually once business normalized. Where is that money supposed to come from?

With the mortgage business slowing, Bank of America needs to put asset sales back on the table, despite Moynihan's wish to move beyond cost-cutting. Not only is this the most viable way to free up cash, but it is what investors wish as well.

At an investors' conference in June, shareholders made it resoundingly clear that they want the bank to continue cutting expenses. To see where the reductions might come from, a look at the bank's 2012 10K report shines a bright light onto the true width and breadth of Bank of America.

From my calculations, the bank appears to have a global conglomeration of more than 1,100 direct and indirect subsidiaries at the current time. Might some of these subsidiaries be saleable entities, outside of the bank's stable of core assets? No one would know better than Moynihan -- and if he is committed to rehabilitating Bank of America as well as pleasing investors, he should give that list a long, hard look.

Is this the best in the business?
Many investors are terrified about investing in big banking stocks after the crash, but the sector has one notable stand-out. In a sea of mismanaged and dangerous peers, it rises above as "The Only Big Bank Built to Last." You can uncover the top pick that Warren Buffett loves in The Motley Fool's new report. It's free, so click here to access it now.

Ask Matt: Don't let stock buybacks fool you

USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at mkrantz@usatoday.com.

Q: Do stock buybacks increase companies' profit?

A: Companies are going crazy buying back their own shares. And these buybacks create the mirage that earnings per share are rising. Savvy investors know how to look beyond this distortion.

Members of the Standard & Poor's 500 boosted the amount they spent buying back their own stock by 30.5% in the fourth quarter of 2013 versus the same year-ago period, says S&P Dow Jones Indices.

TRACK YOUR STOCKS: Get real-time quotes with our free Portfolio Tracker

In a positive development for investors, while companies were busily buying back stock, they didn't issue new shares as rapidly. The result? A major bump to earnings per share.

Best Chemical Stocks To Invest In Right Now

This happens because companies' net income is being cut into fewer slices. The effect is profound now. More than 100 stocks in the S&P 500 reported earnings per share growth that was 15% higher than net income growth last year, says S&P Dow Jones Indices.

But will the changes in share counts distort the profits reported by the entire S&P 500, the basis for many mutual funds and exchange-traded funds? No, says Howard Silverblatt of S&P Dow Jones Indices. The S&P 500 changes the weight holdings to adjust for changes in the shares outstanding. Doing so allows investors to more accurately measure how fast earnings are growing from year to year.

It's a different situation with the Dow Jones industrial average. The Dow is weighted by per share data. When a company has a decrease in the number of shares, which boosts earnings per share, the Dow's measured profitability will rise.

Finally, Office for iPad a Fact

Microsoft Corp. (NASDAQ: MSFT) has confirmed that it wants in on the Apple Inc. (NASDAQ: AAPL) iPad. Consumers have been able to use Microsoft’s key Office programs on the Mac, but now it is official: Office for iPad is here.

Satya Nadella’s press briefing on Thursday indicated that the new Office for iPad will be available for download right away. This had been rumored in recent days, and it helps to propel shares on the rumor. Now it is a fact.

The move is a so-called freemium, a free download, for Office 365 subscribers. The reality is that this is potentially huge news on the surface. Now we have to see the functionality and actual interoperability of it before we can say what this does for the company’s subscription revenues.

Tech shares continued their decline on Thursday, and Apple shares were down 0.6% at $536.20 and Microsoft shares down 0.45% at $39.61 in mid-afternoon trading.

We could say more, but sometimes less is more. At least this makes life easier for some of us who run businesses.

Obviously this is not great news for the likes of Hewlett-Packard Co. (NYSE: HPQ) and Dell. This makes the iPad just that much easier to use for Windows fans. In fact, HP shares were down 1.5% at $31.86 at the same time. That being said, HP shares were actually up from where they were earlier in the day before the Office for iPad was confirmed.

Canada’s Inflation Finally Heats Up

Last October, the Bank of Canada (BoC) abandoned its rate-hike bias due to concerns about the country's persistent disinflation. Those fears seemed to be borne out by subsequent showings of Canada's consumer price index (CPI), whose readings for each month of the fourth quarter either equaled economists' gloomy predictions or were actually slightly worse.

But more recent results suggest that Canada's inflation could finally be heating up. In January, the country's CPI increased 0.3 percent month over month, exceeding the consensus forecast by a substantial two-tenths of a percentage point.

The core CPI, which excludes volatile components such as food and energy, rose 0.2 percent, beating expectations by a tenth of a point. On a year-over year basis, prices rose 1.5 percent.

And now with Statistics Canada's release of the latest numbers, we can see that February's results were even better on a trend basis, with the CPI climbing 0.8 percent month over month, two-tenths of a point better than projected.

Meanwhile, the core CPI rose 0.7 percent, also two-tenths of a point higher than forecast. On a year-over year basis, prices were up 1.1 percent. That's a deceleration from January's figure, though still a tenth of a point better than predicted.

These strong numbers make it increasingly unlikely that policymakers will lower short-term rates again. The central bank's overnight rate has stood at 1 percent since late 2010, the longest such pause in its history.

Top 10 Undervalued Companies To Own In Right Now

The BoC's primary mandate is to keep total CPI inflation at the 2 percent midpoint of a target range of 1 percent to 3 percent over the medium term.

Whenever inflation deviates from its 2 percent target, the bank adjusts the overnight rate with the hope of! achieving the target within about two years, which is the time it typically takes for changes in monetary policy to flow through the economy. To that end, economists with CIBC World Markets expect inflation to be near the bank's 2 percent target by year-end.

In response to the CPI as well as stronger-than-expected retail sales, the Canadian dollar rallied off its four-year low of USD0.8894, which it hit last Thursday. Since then, the loonie has climbed 0.8 percent, to USD0.8962. For those keeping score of its longer-term moves, the currency is down about 15.5 percent from this cycle's high in mid-2011.

In fact, the loonie's slide has likely been a key factor in shaking off the country's disinflation, though a 1.4 percent increase in an alcohol, beverages and tobacco tax also contributed to the latest headline number.

Since most commodities are priced in US dollars, Canadians are now paying higher prices on natural gas and gasoline, as well as for some food products, many of which are imported.

While a lower exchange rate will be helpful to Canada's export sector, some economists are worried that it could undermine business investment, since a significant amount of machinery and equipment is imported. In addition to achieving its inflation mandate, the BoC also hopes a weak Canadian dollar will spur exports and boost business investment.

Although private-sector economists believe Canada's economy will grow by 2.2 percent this year, much of that growth will occur during the second half. Despite some of the rosier economic data that have been released recently, a colder-than-normal winter is expected to weigh heavily on first-quarter gross domestic product (GDP).

The consensus forecast is for GDP to grow just 1.6 percent during the first quarter, which would be the slowest pace since late 2012. Of course, numerous economic data have had stronger-than-expected showings this winter, so it's still entirely possible that the broad economy could deliver its own! upside s! urprise for the first quarter.

Subscribers to Canadian Edge get to read the full update, which includes our latest analysis of a company whose shares currently yield 5.2 percent and whose earnings per share are expected to jump 71 percent this year.

10 Best Stocks For 2014

10 Best Stocks For 2014: Cerus Corporation(CERS)

Cerus Corporation, a biomedical products company, engages in the development and commercialization of the INTERCEPT Blood System. The company?s INTERCEPT system is designed to inactivate blood-borne pathogens in donated blood components intended for transfusion. It markets the INTERCEPT system for platelets and plasma primarily in Europe, the Russian Federation, and the Middle East. The company is also developing INTERCEPT Blood System for red blood cells or red blood cell system, which is designed to inactivate blood-borne pathogens in donated red blood cells for transfusion. Cerus Corporation has collaboration agreements with Baxter International, Inc.; and BioOne Corporation, as well as the United States Armed Forces. The company was founded in 1991 and is based in Concord, California.

Advisors' Opinion:

• [By Seth Jayson]

  Cerus (Nasdaq: CERS  ) is expected to report Q1 earnings on April 30. Here's what Wall Street wants to see:

  The 10-second takeaway
  Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Cerus's revenues will expand 15.0% and EPS will remain in the red.

source from Top Stocks Blog:http://www.topstocksblog.com/10-best-stocks-for-2014.html

Wirehouses sweeten succession deals for retiring advisers

Getty Images

As competition for the assets of retiring advisers heats up, the wirehouse firms have been updating their succession programs for aging advisers.

This year, the big four are knocking the dust off old succession programs and revamping them with new names, higher payouts and lower barriers to entry.

“The programs are much more robust than they were five years ago,” said Corey Kupfer, a partner at the Hamburger Law Firm. “The wirehouses have been reacting to competitive pressure from the independent RIA and broker-dealer space, and with the aging of the adviser population, they've really stepped up with new programs.”

As the average age of advisers climbs into the 50s, the stakes are high for all firms. Almost $2.3 trillion in assets — more than the total assets under management at most of the wirehouses — are held by advisers already over 60, according to 2012 data from Cerulli Associates Inc.

(Don't miss the latest on succession planning in this Special Report)

That pain is especially acute at the wirehouses where 30% of advisers are planning to leave the business in the next decade, a separate Cerulli report from last year states.

“There is noticeable uptick in the number of advisers keenly interested in this,” said John Alexander, a managing director for strategy and channel development at Wells Fargo Advisors. “A lot of advisers are asking for advice about the best way to do it, so we're developing resources and putting a great deal of capital into it as well.”

The basic processes for retiring at a wirehouse are similar across the firms. They all aim to provide retiring advisers who meet certain criteria a share of the total revenue from their book for up to five years after they retire.

The wirehouses also have been refining that original plan, and adding more flexibility and options in recent years as new channels come into the marketplace.

“From an RIA perspective, roll-up firms are poaching from the wirehouses, as well,” said Alois Pirker, the research director at Aite Group's wealth management consulting unit. “The employee firms have been somewhat idle there and not so aggressive, and so I think they have realized there is a need in that space.”MONEY TALKS

Payouts at the wirehouses have been steadily increasing and this year reach as much as 250% of an adviser's book of business, depending on length of service, size of the book and other firm metrics.

Advisers at higher end of the range are generally serving on a team, are 55 or older, have been with the firm for a good part of their career and have a number of fee-based accounts and younger clients.

Morgan Stanley is updating its Former Financial Adviser Program this year to provide additional payouts to both lower producing and top-tier advisers. Advisers who are in its top two clubs – meaning they meet certain production and length of service requirements – and are on a team are eligible to receive a payout of 50% of their trailing-12-month revenue, paid as a lump sum pre-retirement, in addition to post-retirement incentives, according to a person familiar with the changes, who asked not to be named because the plan update has yet to be announced to the firm's 16,000 advisers.

(Related: How switching firms before you retire can provide an extra windfall)

Bank of America Merrill Lynch's original Client Transition Program paid out between 70% and 80% of trailing-12 production over four years, but it was updated for 2013 to pay up to 160% of trailing-12 with a minimum of 100%.

The payout is matched with where the adviser falls on the production grid. For example, a $1 million producer at a 45% payout rate will take home 45% of the t

The Week Ahead: Don't Let Anything Derail Your Investing Plan

The end of another choppy trading week served as a reminder that the stock market can go down as well as up, and MoneyShow’s Tom Aspray counsels market participants to have an action plan ready and stick to it, so they don’t succumb to panic selling when volatility hits.

It was another rollercoaster week in the global equity markets but that has really been the trend so far in 2014, even though many of the US averages have made new all-time highs. The volatility is thought to be a friend of the trader, but I heard one commentator on national TV say that “he had been wrong for the last 60 points in the S&P.”

Of course, no active trader would ever risk that large an amount on their view of the market’s direction. It does illustrate that it hasn’t been an easy year for many traders as those who have been shorting the market since early in the year had to be very nimble in order to profit. But what is the investor to do?

This 30-minute percentage change chart tracks the S&P 500 futures and the 10-year T-note from Monday through Friday morning. The two-day uptrend in the S&P futures, line a, was broken on Wednesday at 2:00 pm Eastern time (see arrow). The futures were up around 1.8% and then quickly dropped to up just 0.75% early Thursday.

At the same time, yields were just as wild as they started to rise before the S&P futures broke support. The 10-year yield went from up 0.75% for the week to up over 4% in less than 24 hours. The actual yield jumped from 2.67% to 2.78%.

As I mentioned in Thursday’s column, I thought that the decline, Wednesday, was a mis-interpretation of Yellen’s comments and nothing had really changed for the stock market. Hopefully, investors ignored the market’s reaction but it’s events like this, as well as the sharp selloff in early February, that makes it imperative for investors to have a plan.

Depending on your age and your financial status, I think everyone should have a commitment to the stock market as long as the NYSE Advance/Decline stays positive and economic indicators like the LEI show no signs of a recession. For those who do not want to study the market, a passive approach that invests in low-cost index-tracking ETFs that follow US, as well as overseas stocks, would be the best bet. But what should the more active investor do?

The % change in the various asset classes show quite a few wide swings already this year. Gold as represented by the SPDR Gold Trust (GLD) has been the clear winner, up about 9.3%, but down from the mid-March high of 12.7%. Bonds are next as the iShares 20+ Year Treasury Bond ETF (TLT) is up just over 5%.

As of early Friday, the Spyder Trust (SPY) is up 2.6% while the Vanguard European Stock Index (VGK) is trailing a bit, up 1.9%. The emerging markets, as represented by the Vanguard Emerging Markets Index (VWO) were unchanged for the year in late January, but by early February, were down 7.6% for the year. VWO has improved from its worst levels as it is currently down just 2% for 2014.

I still think the emerging markets may be the surprise in 2014 as the technical outlook has improved but a bottom has not yet been confirmed. The more active investor should consider investing in several index-tracking ETFs, but in volatile areas, like the emerging markets, the percentage commitment should be kept low. One should consider not only the large-cap S&P 500 but also the small-cap sectors like iShares S&P 600 Small-Cap (IJR), which I recommended last Wednesday.

If you are willing to spend the time and do the work, I think you can become your own investment analyst. These more active investors should consider a core position in an S&P-500-tracking ETF and then allocate to other industry-specific ETFs. So far in 2014, the Select Sector SPDR Utilities (XLU) is up 8.8% for the year. Not too far behind is the Select Sector SPDR Health Care (XLV), which is up 7.8%.

With the recent decline in many of the high-flying biotechnology stocks, the PowerShares QQQ Trust (QQQ) is up 3.8%. Those who have been in either the Select Sector SPDR Energy (XLE) or the SPDR Dow Industrials (DIA) are pretty much flat for the year. This illustrates the importance of sector selection, and I have found relative performance to be the best tool. Using this approach to diversify your 401k in different sectors has shown to work quite well. (Learn to Drive Your Own 401k).

NEXT PAGE: What to Watch

Page 1 | Page 2 | Page 3 | Page 4 | Next Page

DSW Inc. Posts Flat Q4 Sales; Beats EPS Estimates; Raises Dividend 50% (DSW)

Before the opening bell on Tuesday morning, DSW Inc. (DSW) reported its fourth quarter earnings and announced a raise to its quarterly dividend.

DSW’s Earnings in Brief

DSW’s Q4 period from fiscal 2012 contained 14 weeks, so it does not necessarily compare to fiscal 2013′s Q4′s 13-week period; however, when adjusting for the extra week, DSW’s sales for the comparable 13-week period are flat year over year at $572 million. Net income for the quarter came in at $28.1 million, or 30 cents per share, but on an adjusted basis, the figure comes in at $28.8 million, or 31 cents per share. DSW managed to beat EPS estimates of 29 cents, but came in below revenue views of $590.23 million. For FY2014, DSW sees its EPS in the range of $1.80 to $1.95, which is in-line with analysts’ views of $1.86.

CEO Commentary

DSW’s president and CEO, Mike MacDonald, made the following comments: “We marked our fifth consecutive year of double digit earnings growth in 2013, with Adjusted earnings per share of $1.88 compared to the prior year’s results of $1.67.  Effective inventory management and our new systems enabled us to expand full year merchandise margin to 45.1%, which is just 10 bps shy of our record margin in 2011. We were also able to improve on our SG&A rate by 80 bps to 20.4%, which led to our highest ever operating margin of 11.7%. We have updated our store build out potential for full size units to a range of 500 to 550 stores …”

DSW Raises Dividend by 50%

DSW’s board of directors increased the company’s quarterly dividend payout to 12.75 cents to 18.75 cents, making for an annualized payout of 75 cents. The dividend will be paid on April 15 to all shareholders on record as of April 4.

Stock Performance

DSW stock was inactive in pre-market trading. YTD, the stock is down 7.22%.

2 Chinese Stocks Rising on Big Volume

DELAFIELD, Wis. (Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.

>>5 Stocks Insiders Love Right Now

Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors."

Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it's always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock.

>>Hedge Funds Are Selling These 5 Stocks -- Should You?

With that in mind, let's take a look at several stocks rising on unusual volume recently.

21Vianet Group

21Vianet Group (VNET) provides carrier-neutral Internet data center services in the People's Republic of China. This stock closed up 2.5% at $31.55 in Wednesday's trading session.

Wednesday's Volume: 2.41 million

Three-Month Average Volume: 853,687

Volume % Change: 206%

>>5 Stocks Set to Soar on Bullish Earnings

From a technical perspective, VNET jumped higher here and traded into new all-time-high territory with monster upside volume. This stock has been on fire uptrending strong for the last three months and change, with shares moving higher from its low of $16.27 to its intraday high of $32.19. During that uptrend, shares of VENT have been making mostly higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in VNET as long as it's trending above some near-term support at $29 and then once it sustains a move or close above Wednesday's high of $32.19 with volume that hits near or above 853,687 shares. If we get that move soon, then VNET will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $35 to $40.

Kongzhong

Kongzhong (KONG) provides digital entertainment services in the People's Republic of China.  This stock closed up 5.2% to $11.08 in Wednesday's trading session.

Wednesday's Volume: 1.47 million

Three-Month Average Volume: 268,710

Volume % Change: 414%

>>5 Rocket Stocks Worth Buying This Week

From a technical perspective, KONG jumped higher here and broke out above some near-term overhead resistance at $10.60 with heavy upside volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $7.51 to its intraday high of $11.57. During that move, shares of KONG have been consistently making higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in KONG as long as it's trending above Wednesday's low of $10.47 or above more support at $10 and then once it sustains a move or close above Wednesday's high of $11.57 with volume that hits near or above 268,710 shares. If we get that move soon, then KONG will set up to re-test or possibly take out its next major overhead resistance levels at $13.64 to its 52-week high at $14.92.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

RELATED LINKS:

>>3 Tech Stocks on Traders' Radars

>>5 Big Health Care Stocks to Trade for Gains

>>5 Hated Earnings Stocks You Should Love

Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including

CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

Top 5 Biotech Companies For 2014

Top 5 Biotech Companies For 2014: Pr osensa Holding NV (RNA)

Prosensa Holding N.V., formerly Prosensa Holding B.V., is a biotechnology company engaged in the discovery and development of ribonucleic acid-modulating (RNA)-modulating, therapeutics for the treatment of genetic disorders. The Company's primary focus is on rare neuromuscular and neurodegenerative disorders with a large unmet medical need, including Duchenne muscular dystrophy, myotonic dystrophy and Huntington's disease. The Company's clinical portfolio of RNA-based product candidates is focused on the treatment of Duchenne muscular dystrophy (DMD). The Company's platform technology allows the development of RNA-modulating therapeutics that either interferes with splicing (exon skipping, exon inclusion, or splice mutation correction), remove mutant RNA, or block RNA expression, for different indications.

DMD is a rare, severe muscle wasting disease that occurs in up to 1 in 3,500 male births. It is commonly diagnosed between the ages of three to five , when boys begin to show signs of impaired motor development. PRO044, the Company's product candidate, addresses a separate sub-population of DMD patients. The Company developed PRO044 using its exon-skipping technology to generate a product candidate with the same mechanism of action that is used by drisapersen.

Advisors' Opinion:

• [By Monica Gerson]

  Prosensa Holding NV (NASDAQ: RNA) soared 25.89% to $8.51 in the pre-market trading after the company reported 48-week data from Phase 2 placebo-controlled study of drisapersen in 51 DMD boys.

• [By Leo Sun]

  However, these three biotech stocks -- Amarin (NASDAQ: AMRN  ) , Dendreon (NASDAQ: DNDN  ) , Prosensa (NASDAQ: RNA  ) -- don't fit that category at all. Read on to understand why these dogs of the sector should never be mistaken as underdogs.

• [By Sean Williams]

  Shares of Sarepta climbed to a 52-week high of $55.61 in September shortly after an experimental rival drug, drisapersen, developed by Prosensa (NASDAQ: RNA  ) and GlaxoSmithKline (NYSE: GSK  ) , missed its primary end point by a mile in late-stage trials. However, Sarepta also tanked just weeks later after the Food and Drug Administration decided against supporting an accelerated drug approval for eteplirsen; the agency would not make the connection that increased dystrophin production led to its remarkable trial results. Also, given the recent failure of drisapersen in a phase 3 study, the FDA felt it pertinent that Sarepta engage in a broader study. Shares ultimately dipped as low as $12.12. 

• [By John Udovich]

  It should also be mentioned that earlier in the week, GlaxoSmithKline plc (NYSE: GSK) returned full rights of Duchenne muscular dystrophy drug drisapersen to their partner Prosensa Holding NV (NASDAQ: RNA) and that news sent shares down 12.48% on Monday. Moreover, Prosensa Holding also sank some 70% last fall when Drisapersen failed a phase 3 trial by missing a primary endpoint measuring for how far patients could walk over the course of six minutes (the improvement wasn't significantly better than the placebo). However, Prosensa Holding also rose 24.37% yesterday after announcing initial findings from further analyses from the aggregate data for drisapersen, with the CEO saying:

source from Top Stocks Blog:http://www.topstocksblog.com/top-5-biotech-companies-for-2014.html

10 Best Safest Stocks To Invest In 2014

10 Best Safest Stocks To Invest In 2014: Alpha Natural Resources inc. (ANR)

Alpha Natural Resources, Inc., together with its subsidiaries, engages in producing, processing, and selling steam and metallurgical coal in the United States. The company has mining operations in Virginia, West Virginia, Pennsylvania, Kentucky, and Wyoming. As of December 31, 2011, it owned or leased approximately 4.7 billion tons of proven and probable coal reserves; and operated 145 mines in northern and central Appalachia and the Powder River basin. The company is also involved in repairing and reselling equipment and parts used in surface mining; manufacturing particulate scrubbers and filters for underground diesel engine applications; rebuilding underground mining equipment; and providing coal and environmental analysis, and degassing services. In addition, it engages in the sale of non-strategic assets, such as timber, gas, and oil rights, as well as the lease and sale of non-strategic surface properties and reserves; coal brokerage; and road construction business. The company serves electric utilities, steel and coke producers, industrial customers, and energy traders and brokers. Alpha Natural Resources, Inc. was founded in 2002 and is based in Abingdon, Virginia.

Advisors' Opinion:

• [By Victor Selva]

  Finally, I always like to see one of the most important financial ratios applying to stockholders, the best measure of performance for a firm's management: the return on equity. With a ROE of 13.2%, it is well above the industry mean of 3.7% and competitors such as Alpha Natural Resources Inc. (ANR), Arch Coal Inc. (ACI) and Peabody Energy Corp. (BTU).

• [By gurujx]

  Alpha Natural Resources Inc (ANR) Reached the Three-Year Low of $4.80

  The prices of Alpha Natural Resources Inc. (ANR) shares have declined to close to the three-year low of $4.80, which is 92.2%! off the three-year high of $61.66.

• [By Ben Levisohn]

  Goldman Sachs lowered its forecast for met-coal prices today–and its rating on Alpha Natural Resources (ANR).

  Agence France-Presse/Getty Images

  Goldman analysts Neil Mehta and Vinit Joshi explain why they downgraded Alpha Natural Resources:

source from Top Stocks Blog:http://www.topstocksblog.com/10-best-safest-stocks-to-invest-in-2014.html

Top High Dividend Stocks To Own For 2014

Tobacco companies have always offered high dividends, and associated with strong balance sheets. The three big players in the industry are Altria Group Inc. (MO), Reynolds American Inc. (RAI) and Lorillard Inc. (LO). The trio has similar valuations and comparable yields. These companies hailing from an unhealthy industry are poised to continue raising their safely maintained dividends. They will find plenty of tobacco huffers in the developing world, if they can build out their international presence. Below is some insight into the three.

Altria (MO)

Altria's Philip Morris USA holds a 50% share of the U.S. tobacco market with a 60% share in the premium brand segment. Altria, whose brands include top-selling Marlboro cigarettes, Skoal smokeless tobacco and Black & Mild cigars, also reaffirmed its 2013 full-year adjusted earnings forecast of between $2.35 and $2.41 per share.

The company holds a voting stake in brewer SABMiller, owns wine businesses and has a financial services division. The company's diversification into smokeless tobacco is crucial to promoting its growth due to the declining market for smokers in the U.S.

Top High Dividend Stocks To Own For 2014: Denison Mines Corp (DNN)

Denison Mines Corp. (Denison) is engaged in uranium exploration, development, mining and milling with uranium mining projects in both the United States and Canada and development projects in Canada, the United States, Zambia and Mongolia. Denison�� assets include an interest in two of the four licensed conventional uranium mills in North America, with its 100% interest of the White Mesa mill in Utah and its 22.5% interest of the McClean Lake mill in Saskatchewan. Denison also produces vanadium as a co-product from some of its mines in Colorado and Utah and recycles uranium-bearing waste materials, referred to as alternate feed materials, for the recovery of uranium, alone or in combination with other metals, at its White Mesa mill. In January 2014, the Company announced the closing of the acquisition of Rockgate by Denison Mines Corp. Advisors' Opinion:

• [By The Energy Report]

  DS: It's certainly good news. Elimination of the non-resident ownership policy [NROP] will permit European Union-based companies to own a majority stake in an operating uranium mine. That opens the door for companies like Rio Tinto Plc (RIO) and AREVA SA (ARVCF) [AREVA:EPA] to push forward with development of existing deposits or to buy more uranium assets in Canada. Accordingly, it increases takeover potential for companies like Denison Mines Corp. (DNN).

Top High Dividend Stocks To Own For 2014: Cabot Oil & Gas Corporation(COG)

Cabot Oil & Gas Corporation operates as an independent oil and gas company in the United States. The company engages in the development, exploitation, exploration, production, and marketing of natural gas, crude oil, and natural gas liquids. It holds reserves in north region comprising Appalachian and Rocky Mountains areas; and south region consisting of Anadarko basin with Texas and Louisiana areas. The company also transports, stores, gathers, and purchases natural gas for resale. As of December 31, 2010, it had proved reserves of approximately 2,761 billion cubic feet of natural gas equivalents. The company was founded in 1989 and is headquartered in Houston, Texas.

Advisors' Opinion:

• [By Grace L. Williams]

  Shares of Goodrich have gained 0.2% to $16.46 at 11:07 a.m. today, while Cabot Oil & Gas (COG) has fallen 0.2% to $38.39, Anadarko Petroleum (APC) has gained 0.4% to $78.50, Range Resources (RRC) is little changed at $83.56 and Pioneer Natural Resources�(PXD) is little changed at$186.36.

Best India Stocks To Watch For 2014: Ramelius Resources Ltd (RMS)

Ramelius Resources Limited is engaged in exploration, mine development, mine operations, the sale of gold and milling services. The Company operates in three segments: Exploration, Burbanks, and Mt Magnet. The Company�� exploration project includes Mt Magnet Project, Mt Windsor Joint Venture, Nevada Project, Vivien Project and Coogee Project. The Mt Magnet gold project is located 600 kilometer north of Perth in the Murchison Goldfield of the Western Australian Yilgarn Craton. The Western Queen South project is located 90 kilometer north-west of Mt Magnet. The Burbanks Treatment Plant is located 8 kilometer south of the town of Coolgardie and 65 kilometer from the Wattle Dam Gold Mine. The Vivien gold deposit is located near the Agnew Gold Mine, west of the town of Leinster in Western Australia. The Coogee gold deposit is located on mining lease 26/477, 23 kilometer east northeast of Kambalda. In October 2013, the Company acquired Vivien gold project. Advisors' Opinion:

• [By Namitha Jagadeesh]

  Hermes (RMS) added 2.1 percent to 253.70 euros. The French maker of Kelly bags reported first-half operating profit rose 14 percent to 584.1 million euros ($773.6 million), exceeding the 569 million-euro average estimate of analysts in a Bloomberg survey. It also confirmed its July forecast that sales in 2013, excluding currency swings, will increase more than 10 percent.

Top High Dividend Stocks To Own For 2014: HealthSouth Corporation (HLS)

HealthSouth Corporation offers inpatient rehabilitative healthcare services in the United States and Puerto Rico. The company primarily operates inpatient rehabilitation hospitals and long-term acute care hospitals, which provide treatment on both an inpatient and outpatient basis. Its inpatient rehabilitation hospitals offer services to patients who require institutional rehabilitation care, and patient care is provided by nursing and therapy staff as directed by a physician order. As of December 31, 2010, the company operated 97 inpatient rehabilitation hospitals, including 68 owned hospitals and 29 jointly owned hospitals; 6 freestanding long-term acute care hospitals; 32 outpatient rehabilitation satellite clinics; 25 licensed hospital-based home health agencies; and managed 4 inpatient rehabilitation units through management contracts. The company was founded in 1983 and is headquartered in Birmingham, Alabama.

Advisors' Opinion:

• [By Rich Duprey]

  Rehab hospital operator�HealthSouth (NYSE: HLS  ) announced this morning its second-quarter dividend on its 6.5% Series A convertible perpetual preferred stock�of $16.25�per share.

• [By Brad Thomas]

  As the only healthcare REIT with a "hospital-focused" platform, MPW is a relatively new REIT that was formed (in 2004) to lease from many of the nation's leading hospital operators, including Prime Healthcare Services, Kindred Healthcare (KND), HealthSouth (HLS), Health Management Associates (HMA), Community Health Systems (CYH), Vibra Healthcare, Ernest Health Inc., and IASIS Healthcare.

Top High Dividend Stocks To Own For 2014: International Game Technology (IGT)

International Game Technology (IGT) designs, manufactures, and markets electronic gaming equipment and systems worldwide. The company offers casino-style slot machines that determine the game play outcome at the machine; wide area progressive jackpot systems with linked machines across various casinos; central determination system machines connected to a central server that determines the game outcome, encompassing video lottery terminals used primarily in government-sponsored applications and electronic or video bingo machines; and amusement with prize games. Its systems products include applications for casino management, customer relationship marketing (CRM), and server-based games and player management. IGT?s casino management solutions comprise integrated modules for machine accounting, patron management, cage and table accounting, ticket-in/ticket-out, bonusing (jackpots and promotions), and table game automation. The company?s CRM solutions feature integrated market ing and business intelligence modules that provide analytical, predictive, and management tools for maximizing casino operational effectiveness; and server-based solutions enable game delivery to slot machines, computers, mobile phones, tablets, and other networked devices. Its gaming markets comprise the United States, Canada, Europe, the Middle East, Africa, Mexico and South/Central America, Asia, Australia, New Zealand, the Pacific, and the United Kingdom. The company was founded in 1980 and is headquartered in Reno, Nevada.

Advisors' Opinion:

• [By Jake L'Ecuyer]

  Equities Trading DOWN
  Shares of Kansas City Southern (NYSE: KSU) were down 15.32 percent to $99.22 after the company reported downbeat Q4 earnings. International Game Technology (NYSE: IGT) shares tumbled 14.16 percent to $15.15 after the company reported weaker-than-expected fiscal first-quarter results. Sterne Agee downgraded the stock from Buy to Neutral and cut the price target from $21.50 to $18.00. First Niagara Financial Group (NASDAQ: FNFG) was down, falling 10.79 percent to $9.22 on Q4 results. The company issued weak FY14 earnings outlook.

• [By Rick Munarriz]

  We can start with International Game Technology (NYSE: IGT  ) .�The leading provider of gaming machines and systems for the casino industry is giving its investors more slot machine money.

• [By Rick Munarriz]

  Rick explains why Multimedia Games has done what gaming equipment rivals SHFL Entertainment (NASDAQ: SHFL  ) and WMS (NYSE: WMS  ) have failed to do. Yes, Multimedia Games commands a loftier valuation than seasoned vet IGT (NYSE: IGT  ) , but growth rates still matter.

Top High Dividend Stocks To Own For 2014: Autodesk Inc.(ADSK)

Autodesk, Inc. provides design software and services to customers worldwide. Its Platform Solutions and Emerging Business segment offers AutoCAD software, a customizable and extensible computer-aided design (CAD) application for professional design, drafting, detailing, and visualization in fields ranging from construction to manufacturing, civil engineering, and process plant design; and AutoCAD LT, a professional drafting and detailing software that includes document sharing capability. The company?s Architecture, Engineering and Construction segment offers Autodesk Revit products, which provide model-based design and documentation system for architects, structural engineers, and design-build teams, as well as mechanical, electrical, and plumbing engineers; AutoCAD Civil 3D products, which provide a surveying, design, analysis, and documentation solution for civil engineering; AutoCAD Architecture software that includes architecture industry-specific tools to improve co ordination; and AutoCAD Map 3D software, which provides direct access to data needed for infrastructure planning, design, and management activities. Autodesk, Inc.?s Manufacturing segment?s products comprise Autodesk Inventor, which offers engineers a set of tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation; AutoCAD Mechanical software that accelerates the mechanical design process; and Autodesk Moldflow, which provides tools that help manufacturers optimize the design of plastic parts and injection molds, and study the injection molding process. Its Media and Entertainment segment offers animation products that provide tools for digital sculpting, modeling, animation, effects, rendering, and compositing; and creative finishing products that provide editing, finishing, and visual effects design and color grading. The company also offers design and creation suites. Autodesk, Inc. was founded in 1982 and is headquartered in San R afael, California.

Advisors' Opinion:

• [By Teresa Rivas]

  As for companies with the most upside, Marathon Petroleum (MPC) tops the list, with 63.6%, followed by Autodesk (ADSK), Ventas (VTR), salesforce.com (CRM) and American Tower (AMT). Outside the top five, the list also includes big names like Schlumberger (SLB), Halliburton (HAL), Expedia (EXPE) and General Motors (GM).

• [By Benjamin Pimentel]

  Shares of Autodesk Inc. (ADSK) �also rallied more than 3% after the design-software company announced Wednesday that it was acquiring Graitec�� Advance Steel and Advance Concrete product lines.

Top High Dividend Stocks To Own For 2014: Sigma-Aldrich Corp (SIAL)

Sigma-Aldrich Corporation, incorporated in May 12, 1975, is a life science and high technology company. The Company develops, manufactures, purchases and distributes the range of chemicals, biochemicals and equipment available globally and also provides global biopharmaceutical testing services. These chemical products, kits and services are used in scientific research, including genomic and proteomic research, biotechnology, pharmaceutical development and as key components in pharmaceutical, diagnostic and other high technology manufacturing. As of December 31, 2012, the Company offered approximately 45,000 equipment products. On January 31, 2012, the Company completed its acquisition of all of interest of BioReliance, a provider of global biopharmaceutical testing services. On April 2, 2012, the Company acquired Research Organics, a supplier of purity biochemicals.

The Company provides products and services that focus on research customers that use smaller quantities of its products in basic life science and high-technology research and development (R&D); manufacturing customers that use its products in quantities in lab-stage development and manufacturing; life science customers who use its biopharmaceutical testing services to facilitate the development, manufacturing and commercialization of biological drugs, and industrial and diagnostic companies that use its products in range of forms of assays and testing, as well as in clinical diagnostics. The Company has a customer base of commercial laboratories, pharmaceutical companies, industrial companies, universities, diagnostics companies, biotechnology companies, electronics companies, hospitals, governmental institutions and non-profit organizations located in the United States and globally.

Advisors' Opinion:

• [By Maxx Chatsko]

  Any company that creates products and relies on other companies to use and distribute them will inevitably forge strong relationships with its customers. It's an important thing to look into when investing, yet easy to overlook. Investors should know whether customers are reliable, which are leaned on the most, and if the company they own is too dependent on any customer (or a select few). Bioprocessing product company Repligen (NASDAQ: RGEN  ) may make consumables that are the lifeline of the biotech industry, but its customer relationships are absolutely critical for smooth operations. Let's look at how the company interacts with the Life Sciences division of General Electric (NYSE: GE  ) , EMD Millipore from Merck (NYSE: MRK  ) , and Sigma-Aldrich (NASDAQ: SIAL  ) -- the three most important customers.

• [By Nicole Seghetti]

  2. Sigma-Aldrich (NASDAQ: SIAL  )
  Maker of test tubes and beakers, Sigma-Aldrich has increased its dividend every year since 1976. Even though the company pays a relatively scrawny 1.1% dividend yield, its 21% payout ratio signals the company has ample opportunity to up its dividend for many years to come.

• [By Monica Gerson]

  Sigma-Aldrich (NASDAQ: SIAL) is expected to report its Q3 earnings at $0.99 per share on revenue of $661.29 million.

  CR Bard (NYSE: BCR) is projected to post its Q3 earnings at $1.40 per share on revenue of $739.62 million.

Top High Dividend Stocks To Own For 2014: Medivation Inc.(MDVN)

Medivation, Inc., a biopharmaceutical company, focuses on the development of small molecule drugs for the treatment of castration-resistant prostate cancer, Alzheimer?s disease, and Huntington disease. The company?s product candidates under clinical development include MDV3100, which is in Phase 3 development for the treatment of castration-resistant prostate cancer; and dimebon, which is in Phase 3 clinical trial for the treatment of Alzheimer?s disease and Huntington disease. It has collaboration agreements with Pfizer Inc. to develop and commercialize dimebon; and Astellas Pharma Inc. to develop and commercialize MDV3100. The company was founded in 2003 and is based in San Francisco, California.

Advisors' Opinion:

• [By Ben Levisohn]

  Werber and Eckhard’s favorites include Gilead (GILD) and Celgene (CELG), and they find the “risk/reward…compelling” in Medivation (MDVN) and Tesaro (TSRO).

• [By Lee Jackson]

  Medivation Inc. (NASDAQ: MDVN) is a top stock to buy and makes the UBS Key Call list as well. The company expects to present top line phase 3 data from the crucial PREVAIL trial of Xtandi in castration-resistant metastatic prostate cancer. UBS is highly confident the trials will prove successful. Its price target for the stock is $74, and the consensus target is $69.50.

• [By Jake L'Ecuyer]

  Equities Trading UP
  Medivation (NASDAQ: MDVN) shot up 9.84 percent to $83.26 after the company and Astellas reported final results from the Phase 3 PREVAIL trial of Enzalutamide. Credit Suisse lifted the price target on the stock from $80.00 to $95.00.

Top High Dividend Stocks To Own For 2014: Briggs & Stratton Corporation (BGG)

Briggs & Stratton Corporation designs, manufactures, markets, and services air cooled gasoline engines for outdoor power equipment. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry. Its products are used in various lawn and garden equipment applications, including walk-behind lawn mowers, riding lawn mowers, garden tillers, and snow throwers, as well as on products for industrial, construction, agricultural, and other consumer applications that include portable and standby generators, pumps, and pressure washers. This segment also manufactures and sells replacement engines and service parts to sales and service distributors. The Products segment offers portable and standby generators, pressure washers, snow throwers, and lawn and garden powered equipment. This segment sells its products through various channels of retail distribution, in cluding consumer home centers, warehouse clubs, mass merchants, and independent dealers under its brands, which include Briggs & Stratton, Snapper, Simplicity, Ferris, Snapper Pro, Murray, and Victa, as well as other brands, such as Craftsman, John Deere, GE, and Troy-Bilt. The company serves original equipment manufacturers worldwide. Briggs & Stratton Corporation was founded in 1908 and is based in Wauwatosa, Wisconsin.

Advisors' Opinion:

• [By Rich Duprey]

  Small-engine maker�Briggs & Stratton� (NYSE: BGG  ) announced today its third-quarter dividend of $0.12 per share, the same rate it's paid for the past four quarters after raising the payout 9% from $0.11 per share.

• [By Jake L'Ecuyer]

  Briggs & Stratton (NYSE: BGG) shares tumbled 7.70 percent to $20.98 after the company reported downbeat Q2 results and lowered its FY14 earnings forecast.

Top Japanese Stocks For 2014

Top Japanese Stocks For 2014: OraSure Technologies Inc.(OSUR)

OraSure Technologies, Inc. develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States and internationally. It also manufactures and sells medical devices used for the removal of benign skin lesions by cryosurgery or freezing. The company offers OraQuick ADVANCE HIV-1/2, a point-of-care qualitative test for antibodies to the human immunodeficiency virus type 1 and type 2; OraQuick HCV, a point-of-care qualitative test for antibodies to the hepatitis C virus; OraSure QuickFlu Rapid Flu A&B Test, a point-of-care qualitative test for antibodies to influenza Types A and B, including H1N1 infections; OraSure, an oral fluid collection device for the detection of antibodies to HIV-1 in an oral fluid sample in a laboratory setting; and Intercept, an oral fluid collection device for oral fluid drugs of abuse testing in a laboratory setting. In addition, it provides MICRO-PLATE DOA Assays that are used to detect the drugs in an oral fluid sample collected with intercept device; cryosurgical freezing systems for the removal of warts and other benign skin lesions; and cryosurgical systems for the removal of common and plantar warts. Further, OraSure Technologies sells immunoassay tests and reagents for insurance risk assessment, substance abuse testing, and forensic toxicology applications; an oral fluid Western blot HIV-1 confirmatory test for confirming positive HIV-1 test results obtained from the use of OraSure collection device; and Q.E.D., a point-of-care saliva alcohol test. The company sells its products through direct sales, strategic collaborations, and distributors to clinical laboratories, hospitals, clinics, community-based and other public health organizations, distributors, government agencies, physicians? offices, and commercial and industrial entities. It has collaboration agreement ! with Merck & Co. Inc. OraSure Technologies, Inc. was founded in 1979 and is based in Beth lehem, Pennsylvania.

Advisors' Opinion:

• [By Sam Collins]

  OraSure Technologies (OSUR) — This small-cap company develops, manufactures and markets oral fluid diagnostic products and specimen collection devices using its proprietary oral fluid technologies.

• [By Seth Jayson]

  OraSure Technologies (Nasdaq: OSUR  ) reported earnings on May 8. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended March 31 (Q1), OraSure Technologies beat slightly on revenues and met expectations on earnings per share.

source from Top Stocks Blog:http://www.topstocksblog.com/top-japanese-stocks-for-2014-2.html

Hot Blue Chip Stocks For 2014

Hot Blue Chip Stocks For 2014: Colgate-Palmolive Company(CL)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. It offers oral care products, including toothpaste, toothbrushes, and mouth rinses, as well as dental floss and pharmaceutical products for dentists and other oral health professionals; personal care products, such as liquid hand soap, shower gels, bar soaps, deodorants, antiperspirants, shampoos, and conditioners; and home care products comprising laundry and dishwashing detergents, fabric conditioners, household cleaners, bleaches, dishwashing liquids, and oil soaps. The company offers its oral, personal, and home care products under the Colgate Total, Colgate Max Fresh, Colgate 360 Advisors' Opinion:

• [By TaniaC]

  Colgate-Palmolive Company (CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world. It operates in two segments: Oral, Personal and Home Care and Pet Nutrition.

• [By Dan Caplinger]

  Procter & Gamble (NYSE: PG  ) will release its quarterly report on Friday, and investors have watched the stock hit new all-time record highs in November before falling back in the past two months. Despite the optimism, Procter & Gamble earnings face pressure from international giant Unilever (NYSE: UL  ) as well as domestic rivals Colgate-Palmolive (NYSE: CL  ) and Kimberly-Clark (NYSE: KMB  ) . The question facing investors is whether P&G can sustain its longtime competitive advantages against its rivals and bolster its growth.

• [By James Well]

  Analysts' Consensus Position on Pfizer
  
  Thirteen analysts including those at TheStreet, Thomson Reuters/Verus, Goldman Sachs, J.P. Morgan, Barclays Capital, Morgan Stanley and Argus Research are optimistic abou! t the performance of Pfizer going forward and, hence, reiterated a consensus buy recommendation at an average target price of $31.78 per share. Last Wednesday, analysts at Goldman Sachs removed Pfizer from Goldman's conviction buy list (CL) where Pfizer has been since Aug. 9, 2011, and placed it on the buy list but raised its price target from $34 to $35 per share. Jami Rubin, an analyst with Goldman Sachs, claimed that Pfizer has gone up by 82.5% since being added to the CL as against 53.9% for the S&P 500 during the period and, therefore, there was the need to replace Pfizer with AbbVie at a price target of $60 because they claimed AbbVie has greater upside at this time.

• [By Dan Burrows]

  Rival Colgate-Palmolive (CL) has different concerns, namely sluggishness in emerging markets where it enjoys commanding market share and derives more than half its revenue.

source from Top Stocks Blog:http://www.topstocksblog.com/hot-blue-chip-stocks-for-2014.html

Best Growth Stocks To Buy Right Now

Best Growth Stocks To Buy Right Now: Checkpoint Systms Inc.(CKP)

Checkpoint Systems, Inc. manufactures and markets identification, tracking, security, and merchandising solutions for the retail and apparel industry worldwide. The company operates in three segments: Shrink Management Solutions, Apparel Labeling Solutions, and Retail Merchandising Solutions. The Shrink Management Solutions segment provides shrink management and merchandise visibility solutions. It offers electronic article surveillance systems, such as EVOLVE, a suite of RF and RFID-enabled products that act as a deterrent to prevent merchandise theft in retail stores; and electronic article surveillance consumables, including EAS-RF and EAS-EM labels that work in combination with EAS systems to reduce merchandise theft in retail stores. This segment also provides keepers, spider wraps, bottle security, and hard tags, as well as Showsafe, a line alarm system for protecting display merchandise. In addition, it offers physical and electronic store monitoring solutions, incl uding fire alarms, intrusion alarms, and digital video recording systems for retail environments; and RFID tags and labels. The Apparel Labeling Solutions segment provides apparel labeling solutions to apparel retailers, brand owners, and manufacturers. It has Web-enabled apparel labeling solutions platform and network of 28 service bureaus located in 22 countries that supplies customers with customized apparel tags and labels. The Retail Merchandising Solutions segment offers hand-held label applicators and tags, promotional displays, and queuing systems. The company serves retailers in the supermarket, drug store, hypermarket, and mass merchandiser markets through direct distribution and reseller channels. Checkpoint Systems was founded in 1969 and is based in Thorofare, New Jersey.

Advisors' Opinion:

• [By John Udovich]

  Small cap Checkpoin! t Systems, Inc (NYSE: CKP) fights shoplifting or retail theft and other forms of "shrink" that costs retailers over $112 billion worldwide last year (according to a study funded by the company), meaning it might be an interesting stock to take a closer look at and to compare its performance with that of SPDR S&P Retail ETF (NYSEARCA: XRT) and PowerShares Dynamic Retail ETF (NYSEARCA: PMR). Just how bad can shoplifting or shrink be for a retailer? Troubled retailer J.C. Penney Company, Inc (NYSE: JCP) has just reported that shoplifting took a full percentage point off the department store chain's profit margins during the quarter. Moreover and given that tens of millions of Americans are now facing higher health insurance costs thanks to Obamacare (which will likely impact consumer discretionary spending), retailers will need to find ways to shore up their margins and bottom lines by preventing retail theft with solutions from company's like C heckpoint Systems.

• [By Rich Smith]

  Three months after settling upon a new chief executive officer, it looks like Thorofare, N. J.-based Checkpoint Systems (NYSE: CKP  ) will soon have itself a new CFO as well.

source from Top Stocks Blog:http://www.topstocksblog.com/best-growth-stocks-to-buy-right-now.html

Best Tech Stocks To Invest In 2015

Best Tech Stocks To Invest In 2015: NCI Inc.(NCIT)

NCI, Inc. provides information technology (IT) and professional services and solutions to the United States Federal Government defense, intelligence, and civilian agencies. It offers enterprise systems management services, including infrastructure operations and management; outsourcing and managed; infrastructure consolidation and modernization; public/private cloud computing; planning and disaster recovery; virtual desktop infrastructure; application and network management; network design, implementation, and migration; network monitoring and performance evaluation; multi-site environments; and data center modernization and consolidation. The company also provides network engineering services comprising architecture development and design; protocol and topology optimization; disaster response planning and recovery; installation, test, and evaluation; network configuration and compliance audit; network security evaluation; protocol and topology optimization; reliability an d contingency assessment; requirements analysis; redundant routing/switching solutions; and enterprise vulnerability management. In addition, it offers cybersecurity and information assurance services consisting of intrusion detection/prevention system development; public key infrastructure implementation; certification and accreditation; computer forensics and ediscovery; policy and procedures development; threat assessment and mitigation; products evaluation and integration; security test and evaluation; cybersecurity fusion centers; and risk management and continuous monitoring. Further, the company provides software development and systems engineering services; program management and lifecycle support services; professional engineering, logistics, and support services; health IT and informatics services; and modeling, simulation, and training services. NCI, Inc. is headquartered in Rest! on, Virginia.

Advisors' Opinion:

• [By CRWE]

  NCI, Inc. (NASDAQ:NCIT) will issue its third quarter 2012 financial results after the market closes on Wednesday, October 31, 2012. Management will then discuss the results, as well as operating trends and future performance expectations, on a conference call beginning at 4:30 p.m. Eastern Time.

source from Top Stocks Blog:http://www.topstocksblog.com/best-tech-stocks-to-invest-in-2015.html

Top Oil Stocks To Buy Right Now

Top Oil Stocks To Buy Right Now: Royal Dutch Shell PLC (RDS.A)

Royal Dutch Shell plc (Shell), incorporated on February 5, 2002, is an independent oil and gas company. The Company owns, directly or indirectly, investments in the numerous companies constituting Shell. Shell is engaged worldwide in the principal aspects of the oil and gas industry and also has interests in chemicals and other energy-related businesses. The Company operates in three segments: Upstream, Downstream and Corporate. Upstream combines the operating segments Upstream International and Upstream Americas, which are engaged in searching for and recovering crude oil and natural gas; the liquefaction and transportation of gas; the extraction of bitumen from oil sands that is converted into synthetic crude oil, and wind energy. Downstream is engaged in manufacturing; distribution and marketing activities for oil products and chemicals, in alternative energy (excluding wind), and carbon dioxide (CO2) management. Corporate represents the key support functions, comprisin g holdings and treasury, headquarters, central functions and Shell's self-insurance activities. In October 2011, the Company bought a marine terminal on Canada's Pacific Coast as a possible site for a liquefied natural gas export terminal. In January 2012, the Company's 50% owned, Australia Arrow Energy Holdings Pty Ltd acquired all of the shares in Bow Energy Ltd. In January 2014, Royal Dutch Shell plc completed the acquisition of Repsol S.A.'s liquefied natural gas (LNG) portfolio outside North America.

Upstream International manages the Upstream businesses outside the Americas. It searches for and recovers crude oil and natural gas, liquefies and transports gas, and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages Shell's entire liquefied petroleum gas (LNG) business, gas to liquid! s (GTL) and the wind business in Europe. Its activities are organized primarily within geograph ical units, although there are some activities that are mana! ged across the businesses or provided through support units.

Upstream Americas manages the Upstream businesses in North and South America. It searches for and recovers crude oil and natural gas, transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the United States-based wind business. It comprises operations organized into business-wide managed activities and supporting activities.

Downstream manages Shell's manufacturing, distribution and marketing activities for oil products and chemicals. These activities are organized into globally managed classes of business, although some are managed regionally or provided through support units. Manufacturing and supply includes refining, supply and shipping of crude oil. Marketing sells a range of products including fuels, l ubricants, bitumen and liquefied petroleum gas (LPG) for home, transport and industrial use. Chemicals produces and markets petrochemicals for industrial customers, including the raw materials for plastics, coatings and detergents. Downstream also trades Shell's flow of hydrocarbons and other energy-related products, supplies the Downstream businesses, markets gas and power and provides shipping services. Downstream additionally oversees Shell's interests in alternative energy (including biofuels, and excluding wind) and CO2 management.

Projects and Technology manages the delivery of Shell's major projects and drives the research and innovation to create technology solutions. It provides technical services and technology capability covering both Upstream and Downstream activities. It is also responsible for providing functional leadership across Shell in t! he areas ! of health, safety and environment, and contracting and procurement.

Advisors' Opinion:

• [By Robert Rapier]

  As an example, in 2009 Chevron (NYSE: CVX), Shell (NYSE: RDS.A) and ExxonMobil teamed up on the Gorgon natural gas project in Australia. The Gorgon and Jansz-Io gas fields are estimated to contain 40 trillion cubic feet of natural gas, which will supply natural gas to the growing Asia Pacific market for decades. Chevron has invested more than $18 billion, and the total project cost has risen to $52 billion (40 percent over budget). That’s a lot of capital spent on something that hasn’t yet shown up as production, but once it does it will produce for many years.

• [By Fede Zaldua]

  Royal Dutch Shell (RDS.A) has never cut its dividend in over 70 years and its current dividend yield, at 5.2%, is one of the highest among peers, as its the company's main way to returning cash to shareholders. The company has distributed over $11 billion of dividends in the last twelve months, including the scrip dividend, which accounted for 44% in the second quarter this year.

• [By Fede Zaldua]

  Secondly, Halliburton says that it can grow its works on mature fields by as much as 300% by 2016. The company wants to make its mature fields segment a $9 billion a year business which looks achievable as most companies are suffering from a growing proportion of fields in decline – for example, Royal Dutch Shell (RDS.A) has 72.7% of its fields in decline.

• [By Claudia Assis]

  HSBC also started Royal Dutch Shell PLC (RDS.A)  stock coverage with a overweight rating. Shells is a "good buy-and-hold stock for long-term investors, particularly those with a cautious market outlook," HSBC said. "On the other hand, even though Shell looks cheap (particularly after its latest falls), there is a risk it remains a value trap." ! !

source from Top Stocks Blog:http://www.topstocksblog.com/top-oil-stocks-to-buy-right-now.html

Best Long Term Companies To Buy For 2015

Best Long Term Companies To Buy For 2015: MannKind Corporation(MNKD)

MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes and cancer in the United States, Europe, and Asia. Its lead product candidate, AFREZZA Inhalation Powder, an ultra rapid-acting insulin that is in Phase III clinical trials for the treatment of diabetes for the control of hyperglycemia. The company also develops MKC1106-MT, an investigational cancer immunotherapy product, which is in Phase II clinical trials for the treatment of adults with type 1 or type 2 diabetes; and MKC204, which is in preclinical development stage for the treatment of malignancies and inflammatory diseases. In addition, its products include MKC253 (GLP-1), a Phase I clinical trials product for the treatment of type 2 diabetes; MKC1106-PP, a Phase I clinical trials product for diverse tumor types, metastatic disease, and/or progressive and refractory disease; and MKC180, an obesity compound and MKC1106-NS , a cancer immunotherapy product that are in preclinical trials. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.

Advisors' Opinion:

• [By Jake L'Ecuyer]

  Shares of MannKind (NASDAQ: MNKD) were up as well, gaining 5.75 percent to $5.70 despite little news on the name during Monday's session.

  Red Robin Gourmet Burgers (NASDAQ: RRGB) was also up, gaining 10.99 percent to $73.87 after Bank of America upgraded the stock from Underperform to Buy.

• [By Jim Jubak]

  For his 2014 Top Stock Pick, Nate Pile picked Mannkind (MNKD), a company that already benefited from the completion of two successful Phase III trials in 2013.

source from Top Stocks Blog:http://www.topstocksblog.com/best-long-term-companies-to-b! uy-for-2015.html

Top Stocks To Buy For 2014: Brown-Forman Corp (BFB)

Top Stocks To Buy For 2014: Brown-Forman Corp (BFB)

Brown-Forman Corporation, incorporated on October 19, 1933, primarily manufactures, bottles, imports, exports, markets, and sells a variety of alcoholic beverage brands. The Company’s principal brands are Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee Whiskey, Pepe Lopez Tequilas, Jack Daniel’s Single Barrel, Woodford Reserve Bourbons, Jack Daniel’s Ready-to-Drinks, Canadian Mist Blended Canadian Whiskies, Jack Daniel’s Tennessee Honey, Chambord Liqueur, Jack Daniel’s Winter Jack Chambord Vodka, Gentleman Jack, Collingwood Canadian Whisky, Southern Comfort, Early Times Bourbon, Southern Comfort Ready-to-Drinks, Early Times flavored line extensions, Southern Comfort flavored line extensions, Early Times Kentucky Whisky, Finlandia Vodkas, Korbel California Champagnes, Finlandia Ready-to-Drinks, Little Black Dress Vodkas, Antiguo Tequila, Maximus Vodkas, el Jimador Tequilas, Old Forester Bourbon, el Jimador New Mix Ready-to-Drinks, Sonoma-Cutrer Wines, Herradura Tequilas, and Tuaca Liqueur.

 

The Company’s products are sold in more than 150 countries around the world. The Company’s international markets include Australia, the United Kingdom, Mexico, Germany, Poland, France, Russia, Japan, Turkey, Canada, Spain, Czech Republic, South Africa, Brazil and Italy.

 

The Company competes with Bacardi Limited, Beam Inc., Davide Campari-Milano S.p.A., Diageo plc, LVMH Moet Hennessy Louis Vuitton S.A., Pernod Ricard S.A., and Remy Cointreau S.A.

Advisors' Opinion:

• [By Laura Brodbeck]Wednesday

  Earnings Expected From: Christopher & Banks Corporation (NYSE: CBK), Brown Forman Corporation (NYSE: BFB), Express, Inc. (NYSE: EXPR), Avago Technologies (NASDAQ: AVGO) Economic Releases Expected: US nonfarm employment change, US trade balance, Canadian trade balance, US new home sales, US ISM non-manufacturing PMIThursday

• [By Seth Jayson]Brown-Forman (NYSE: BFB  ) reported earnings on June 5. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended April 30 (Q4), Brown-Forman met expectations on revenues and beat expectations on earnings per share.

2 BDCs Worth Adding to Your Income Portfolio

Popular Posts: Top 10 Dow Dividend Stocks for FebruaryTrade of the Day: Finisar (FNSR)Top 10 Dow Dividend Stocks for January Recent Posts: 2 BDCs Worth Adding to Your Income Portfolio Trade of the Day: Finisar (FNSR) Top 10 Dow Dividend Stocks for February View All Posts

Today's investing landscape might seem worlds away from that of the 1980s – but as they say, the more things change, the more they stay the same. That is certainly true for the financial sector, and it's why business development companies (BDCs) have been going strong for the last 30+ years.

A Brief History of BDC’s

Although these tax-friendly specialty financials are just now becoming more widely known, the federal law that created them was actually a product of the dismal economic climate of 1980. With all the inflation, oil shocks and general malaise that was going on at the time, private equity and venture capital firms simply couldn’t provide financing to small, growing businesses. Because of tight regulations, that left small business with really only one option: getting funding from banks.

Just like today, though, traditional banks were playing defense and were extremely hesitant to make smaller loans with greater perceived risks.  In response, Congress passed the Small Business Investment Incentive Act of 1980 that essentially created business development companies – a new kind of publicly-traded corporation that could sell stock on the major exchanges.

The law is still in effect, and the rules set up for BDC’s still hold for today:

Required to invest 70% of their assets in the small companies in their portfolio. Must make available “significant management assistance” to those same portfolio companies. Must follow all the rules of publicly traded companies, including filing quarterly reports and having their books audited. Can use leverage in their own operations. For example, if one of these investment companies has $50 million in equity, it can borrow another $50 million to have a total of $100 million in investable funds. Can avoid taxes at the corporate level. As long as they distribute at least 90% of investment income to shareholders annually, these companies can qualify for “pass through” tax treatment of income and capital gains distributed to shareholders.

That second bullet feature is one of the biggest reasons why BDCs are viewed as a solid investment. Because BDCs are required to play a role in supporting the management of their small-business clients, they are devoted not only to picking the right companies to invest in – but in helping them succeed after writing them the loan.

While many of the big banks were hanging everyone out to dry in the 2008 financial crisis due to liquidity and pricing issues, these BDCs were quietly helping their clients work through their company’s issues, often attending board meetings or even serving as board members.

Another feature of BDCs that makes them so appealing to income investors is that they can charge 10% – 14% on their small-business loans. After all, the banks just aren’t lending, and in the current climate of wholesale budget cuts, the Feds aren’t either.

So it's not hard to see why BDCs have been doing well in recent years, and in my view is the sector is fundamentally very sound, with rising backlog for loan demand.

Now is a great time to get in on the increasingly popular asset class of business development companies (BDCs) – and I’d like to share a few names with you now that I believe are just the ticket to add to your portfolio.

2 BDC’s For Your Portfolio

My first BDC recommendation for you is Hercules Technology Growth Capital (HTGC). Based in Palo Alto, Calif., Hercules is a leading specialty finance company that provides venture debt and equity to venture capital and private equity-backed technology and life-science companies.

We all want to be on the ground floor of new tech, and HTGC has the due diligence to drill down and discover them for us. We don’t have to pick through all that research if we just invest alongside a BDC that already is doing the research.

Hercules Technology reported its fifth consecutive earnings beat after the closing bell on Feb. 27. The company’s fourth-quarter 2013 distributable net operating income came in at 34 cents per share, outpacing the consensus estimate of 31 cents per share. This also compared favorably with the year-ago figure of 27 cents.

The company’s figures benefited from interest and fee income improvements, in addition to disciplined expense management. Overall, Hercules ended the quarter with an impressive performance, comprising a higher level of liquidity.

For the full-year 2013, HTGC recorded earnings per share of $1.34 versus $1.07 in 2012 and easily beat the consensus yearly estimate of $1.23. For the full year, distributable net operating income came in at $79.0 million, rising 51% from $52.3 million in 2012.

When I first recommended HTGC to my Cash Machine subscribers in May 2011, more than 93% of the company’s debt investments were in a senior secured first-lien position, and more than 88% of the debt investment portfolio was priced at floating-rate interest rates with a LIBOR floor. It was my view that after the bond rally, long-term rates would rise, benefiting HTGC’s interest income. Sure enough, Hercules shares are up more than 50% since then, and that's not even including the 8% quarterly dividend.

I also believe that this BDC is solidly footed to keep rewarding its investors, so I recommend that you buy HTGC up to $17.

E-TRACS 2x Leveraged Long Wells Fargo BDC ETN (BDCL) is a mouthful but worth every bite, and my second recommendation in the BDC world.

Keep in mind that it’s a leveraged business development exchange-traded note, not an exchange-traded fund that holds all the underlying stocks of those publicly traded BDCs. Rather, it is a debt note secured by the United Bank of Switzerland (UBS), and is tied to the Wells Fargo Business Development Company Index (WFBDC) the only index to be made up completely of BDCs. This index is based off of 32 BDC holdings, which the BDCL ETN leverages by 2X.

This exchange-traded note is only as strong as the financials of UBS, a global enterprise with a market cap of $79 billion. But UBS is one of the most conservative investment banks in the world. Like BDCs themselves, the dividend for BDCL will be adjusted each quarter to reflect the performance of the underlying index, but with the fundamentals playing to the favor of the sector, the yield looks reliable.

BDCL was down a good chunk in Q4 2011, but I stayed with it because I thought the fundamentals were better than what the stock was showing. Certainly the BDCs got thrown out with the banks, and very few people have confidence in banks with one scandal after the other in recent years. Since then, however, it’s been prime time for BDCs — and BDCL’s chart speaks for itself: the price is up 63.7% since the beginning of 2012.

As you can see, it pays not to buy into media hysteria. BDCs are financials, but they’re not banks. I made the right choice, and it’s paid off for me and for Cash Machine subscribers. Even with a 60.2% total return on our position, BDCL is currently trading not far from my buy price, so as a newcomer, it's a great time to get in on the hefty 14.5% dividend yield.

I think BDCL can make its way toward $35 in the next 18-24 months, given its lofty yield that leaves plenty of room to keep moving higher.

Apple's Siri yaks in Ferrari for auto show splash

Normally, some breathtaking car model is what those attending a big auto show remember. But this year, at the Geneva Motor Show, the big winner may be Apple.

Apple didn't just introduce its new CarPlay in-car system at one of the world's most prominent shows. It did in grand fashion, demonstrating the system before huge crowds attending Ferrari, Mercedes-Benz and Volvo presentations.

They are among the first brands that will get the technology. Many other brands are signed up as well, including those that have been developing in-car systems in conjunction with other suppliers.

What high-tech maker wouldn't want to have their new product showcased first in one of the most stunning and evocative cars on the planet, the Ferrari FF sedan?

10 Best Gas Utility Stocks For 2015

What the crowds saw was a system that integrates the Apple iPhone into the car, transferring key apps like navigation, music and others to the car's center stack and making the whole thing voice activated using Siri, the iPhone's digital guide. The icons that appear on the screen are large to minimize driver confusion and concerns about distraction. And it's intended to simple and intuitive like an iPhone.

Of course, Apple executives, including Chairman Arthur Levinson, were in Geneva to revel in the attention.

Top Portfolio Products: New Share Classes for Paulson Advantage Funds

New products and changes introduced over the last week include the partnership announced between Abacus Group and Imagineer Technology Group that will host the latter’s software platform in the former’s private cloud and Paulson & Co. opened two new share classes for its Advantage funds.

In addition, Invesco PowerShares announced a special dividend for PowerShares QQQ (QQQ).

Here are the latest developments of interest to advisors:

Paulson & Co. Announces Two Additional Share Classes for Advantage Funds

Paulson & Co. has announced that it is now offering two additional share classes for its Advantage funds that offer different liquidity terms for different fees.

Paulson Advantage L.P. and Paulson Advantage Ltd. are now available in B shares that permit monthly withdrawals on 60 days’ notice instead of the once-a-quarter withdrawals permitted in existing shares; the B shares, however, carry a 2% management fee instead of the existing shares’ 1.5%. C shares permit only once-a-year withdrawals but the management fee is only 1%.

Advantage Plus C shares offer quarterly liquidity in exchange for a 2% management fee, while D shares only carry a 1.25% management fee and allow only once-a-year withdrawals.

All investors pay a 20% performance fee.

Abacus, Imagineer Partner to Host Software Platform in Cloud

Abacus Group LLC and Imagineer Technology Group have announced a partnership that hosts Imagineer’s Clienteer software platform in the AbacusFLEX private cloud environment.

This will allow AbacusFLEX clients to access the Clienteer CRM platform, which was developed specifically for hedge funds, private equity firms and other asset managers with functionality focused on the areas of investor relations, sales and marketing, operations, compliance, and the workflows related to these activities.

Invesco PowerShares Announces Special Dividend for PowerShares QQQ

Invesco PowerShares Capital Management LLC has announced that on March 7 PowerShares QQQ expects to issue a special dividend payment.

The special dividend is due to a corporate action event by Vodafone Group PLC ADR, which is held by PowerShares QQQ. As of Feb. 20, Vodafone represented 0.93% of total holdings in PowerShares QQQ. The ex-date for special distribution was Thursday, February 27. The record date is anticipated to be Monday, March 3, and the payable date is anticipated to be Friday, March 7.

Read the Feb. 21 Portfolio Products Roundup at ThinkAdvisor.

The world loses a great investor

A year ago, I traveled to California with colleagues Brian Richards and Rick Engdahl to interview some of the world's sharpest economic thinkers, including PIMCO CEO Mohamed El-Erian and former Mitt Romney adviser John Taylor of Stanford University.

We stopped in Sacramento for what I can sheepishly admit was originally a plan to kill time, interviewing a man we knew little about: Joseph Dear, the chief investment officer of CalPERS, the nation's largest pension fund. We didn't think we'd get much good material out of Dear; we'd had poor success interviewing public officials in the past, as they offer dry, scripted answers. But Dear surprised us. He shocked us, actually. He was as funny as he was wise, as humble as he was brilliant. He ended up being our favorite interview of the trip.

Dear was diagnosed with prostate cancer soon after our interview. He passed away yesterday, CalPERS confirmed.

Here are a few highlights I pulled from the transcript of our interview with Dear.

On politics affecting the economy: I think it's important to realize that in democracies, decisions when the pie is growing and when the question is how to distribute an ever-expanding base of wealth are way easier when the pie is shrinking and the decision is to withdraw benefits or to increase costs or to do both. It's really tough for the system to be able to do that. So there's some patience required because it is tough. These decisions, however, if avoided, will result in the consequence of a market riot, which nobody wants to see.

I'd say what you're looking for first of all is an ability of the political system to produce a compromise. And by its nature, a compromise leaves everybody somewhat dissatisfied. You didn't get everything you wanted; you had to give up stuff that was really precious to you.

On the other side of every one of these is somebody who's going to have something to gain and somebody's going to have something to lose. Those people are way more vocal than the general public! who wants a stable political system and an economy which is growing as fast as it can reasonably grow, because growth is the best solution to all these problems.

On pessimistic groupthink: Well, I think there's growing optimism. I'm not on the leading edge of this, but I still think the mindset is having been bruised so badly with losses and terrorized by fear of a real meltdown in the global economy, that pessimism reigns.

There's a great quote by the economist A. C. Pigou that said the dying era of optimism gives birth to a new era: an era of pessimism, which is born not a baby, but a giant. And we are still working through that pessimism phase.

On risk and liquidity: Volatility is a form of risk, but it is by no means necessarily the most important. One of the things we learned in the financial crisis is liquidity is important and if you run short of cash in a period of distress, you end up with a set of options which are all terrible. And without going into all the detail, CalPERS found itself in a liquidity squeeze in the fall of '08, and to get ourselves out of it, we had to sell assets. Well, if you're in the midst of a panic and you're selling assets, what can you sell? You can only sell your best stuff. And when you sell into a panic like that, you're marking your portfolio with real losses. That was an extremely painful lesson for us, and obviously we've taken that to heart in a number of ways.

Asked if Calpers can realistically earn a 7.5% return on its assets when recent performance has been below that: I do, I do. Now, we point to the past and say it's over 8% for that time period and then the skeptics go, well, but you had this huge secular decline in interest rates, combined with in general over that long time period, pretty good equity performance. It's not been so great for the past 10 years, but even there, if you look at big cycles in investment and see 10-year returns from equities relatively low, what we've seen after that is a return to better returns after! that or ! a reversion to the mean, so I think there is a reasonable basis to be confident.

Making the argument that pension liabilities are overstated: We determine our liabilities by applying a discount rate which is typically equal to or very close to our assumed rate of return. Now, there are critics who say that that's unreasonably high, that we should discount against a governmental borrowing rate or against some other lower rate. And when you reduce the discount rate on your liabilities, you greatly increase the size of those liabilities, so some people think that the liabilities of public pension plans are really understated, because in the United States, most funds use the rate of return as the discount rate. ... In a super-low rate environment like we have today, liabilities are definitely bigger. Are interest rates going to stay? Is the 10-year Treasury going to stay at 1.6% indefinitely? I doubt it. So it's going to go up, and the interest rates will go up, and even those who want to do the yield curve will see liabilities coming down.

Top Up And Coming Companies To Own For 2015

The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.

<SCRIPT language='JavaScript1.1'SRC="http://ad.doubleclick.net/adj/N4538.USAToday/B2304017.8;abr=!ie;sz=550x300;ord=[timestamp]?"></SCRIPT><NOSCRIPT><AHREF="http://ad.doubleclick.net/jump/N4538.USAToday/B2304017.8;abr=!ie4;abr=!ie5;sz=550x300;ord=[timestamp]?"><IMGSRC="http://ad.doubleclick.net/ad/N4538.USAToday/B2304017.8;abr=!ie4;abr=!ie5;sz=550x300;ord=[timestamp]?" BORDER=0 WIDTH=550 HEIGHT=300ALT="Advertisement"></A>&! ;amp;amp;! lt;/NOSCRIPT>