Health Care Summit
Research for Online Investors

by John Dalt

2/25/10

If you have been at work today, you missed the health care summit.  Lucky you.  I was glued to the tube, changing channels if the commentators wanted to interrupt and give me ‘their take’ on the discussion.  I don’t need them to tell me what my opinions are of the give and take.

I came out of the six hours about the same as I went in. Convinced the President and his party want control, and are elevating every problem faced by people to a ‘crisis’, with a bigger government fix than the last one they proposed.

The President moderated the debate; one thing I noticed was his tendency to emulate one of my daughter’s worst traits.  He always has to have the last word.  No matter what was said, he had to add to it, spin it, push it, before moving on.

Come to think of it, it is also one of my worst traits!  My wife gently corrects me when needed.  I wonder, who whispers in the President’s ear, “Honey, it is time to shut up, you don’t know it all.”  Charles Krauthammer, one time speech writer for Walter Mondale and columnist at the Washington Post, identifies President Obama as a narcissist.  Impressed with himself, dismissive of those that disagree with him.  I am not a trained psychologist, as Krauthammer is, but find his diagnosis correct.

The market was down over 150 on the DJIA early today.  As we go to press, the market is staging a rally, and is down 90  It is a good time to be cautious, why is this is a time to buy?  While there is plenty of good news in earnings, there are credit problems with most governments and U.S. commercial real estate that we need to keep in mind.  A months worth of gains can be lost in one day, the market will always sell off faster than it can climb.

Reader mailbag:
“My $20.00 gold coins are St. Gaudens, the size of an old silver dollar”-----R.H.

John’s response:  My mistake, you are right.  The one-fourth ounce coins I buy are $10 dollar gold pieces from the U.S. mint in the late 1990’s.  They have “1/4 oz. Fine Gold” struck on the inverse side.  They are slightly larger in diameter than a nickel, thin as a penny.  I knew as soon as it published it was wrong.  Mental breakdown I guess, I did not go to the safe and look at the little shinnies.  Sorry about the misstatement.  I also like one ounce S. African Krugerrands, which have “1 OZ. Fine Gold” stamped on the inverse, and are widely accepted.

The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions.  It may contain errors and you should not make investment decisions based solely on what you believe you have read here.  Do your own research, it is your money.  If you lose it, it is your responsibility, not ours or your grandmothers!  The editor may or may not have a position in any securities discussed.  The editor may have held a position in a security earlier, or in the future.

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