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Dow Jones Industrial Average Reaches Record Territory
Interesting developments to come - See what made the cut...

Dow Jones Industrial Average Reaches Record Territory Dow Jones Industrial Average Reaches Record Territory

The Dow Jones Industrial Average advanced to an all time record high during intraday trading on Friday, surpassing the 15,000 milestone. Stoked by better-than-expected job growth and the recovering housing market, investors marched on as the markets climbed higher. On February 1, 2013, the DJIA closed above 14,000 for the first time since October 2007. It was on July 19, 2007 when the Dow closed above 14,000 for the first time. Dow closed above 13,000 for the first time on April 25, 2007. On October 19, 2006, DJIA struck over 12,000 at the close of the session. It was on May 3, 1999 the Dow closed above 11,000. Is there a pattern for these milestones?

Rumor has it that investors are turning to equities, pushing the Dow to new highs, simply because they’re running out of options.

Investors are asking financial advisors how is their portfolio doing instead of 'how much money did I lose', ohh not so long ago.

Is this the beginning of the turning of the tide? Are we in for an assemblage of investors who are ready to take some profits off the table? Old timers on the street are referring to the old adage, '"sell in May and go away" could be ahead for Wall Street.

And what about the S&P 500 blowing past 1,600 for the first time ever on Friday. When a selloff begins, we'll see the wrath upon the S&P as well.
 

Berkshire Hathaway Booming Berkshire Hathaway Booming

Berkshire Hathaway Inc. (BRK-A) ended the trading session Friday at record highs after releasing quarterly profits soared higher by almost 51% - backed by solid performance in insurance, other companies invested in and gains from investments and derivatives. Berkshire is led by CEO Warren Buffett, the 'oracle of Omaha'.
Revenue rose 15 % from a year ago to $43.87 billion. Net income for the conglomerate increased to $4.89 billion or $2,977 per Class A share, from $3.25 billion, or $1,966 per share, a year earlier. Quarterly operating profit rose 42 percent to $3.78 billion or $2,302 per share, from $2.67 billion, or $1,615 per share.

Operating profit from insurance operations rose to $1.7 billion from $845 million. Nearly all improvements came from underwriting, where profit rose to $901 million from $54 million, in part because of a $255 million pre-tax reinsurance gain, as well as currency fluctuations. Underwriting profit at Geico more than doubled. Its said that Berkshires backbone is in Buffett's world class collection of insurance companies.

Operating profit from non-insurance business rose 12% to $2.25 billion, including an increase by 14% at Burlington Northern to $798 million and a little over 10% from manufacturing, retail and service operations to $944 million.

Gains from derivatives increased 20% before taxes, mainly due to Berkshire's long-term contracts related to performance in stock indexes such as the Standard & Poor's 500, which rose 10% during Q1.

Book value per share, Buffett's preferred measure of growth, increased 5.5% from year end to $120,525 per Class A share, and Berkshire's cash stake grew over that period to $49.09 billion from $46.99 billion. Nearly $12.1 billion is being used to fund the purchase of ketchup maker H.J. Heinz Co. by Berkshire and Brazilian investment firm 3G Capital.
 

139th Running of the Kentucky Derby 2013 139th Running of the Kentucky Derby 2013

Frequently referred to as the 'greatest two minutes in sports' - Saturday May 4th is the 139 Running of the Kentucky Derby at Churchill Downs, Kentucky. The 'Run for the Roses' - as the Derby was dubbed by the president of Churchill Downs, is limited to 3-year-old thoroughbreds and only 20 will race before the eyes of the world in the Kentucky Derby.

The winner will have been showered by the rose garland, which first appeared at the Derby in 1896 when winner Ben Brush received a floral arrangement of white and pink roses. Each year, a garland of more than 400 red roses is sewn into a green satin backing with the seal of the Commonwealth of Kentucky on one end and, the Twin Spires and number of the race’s current renewal on the other. Each garland is adorned with a "crown" of roses, green fern and ribbon. The "crown" - a single rose pointing upward in the center of the garland - symbolizes the struggle and heart necessary to reach the Derby Winner’s Circle.

The red rose became the official flower of the Derby in 1904. The garland, as it exists and is seen today, was first introduced in 1932 for the 58th running of the Derby, won by Burgoo King. At each Derby running, the Governor of Kentucky and other dignitaries present the winning jockey with a bouquet of 60 long stemmed roses wrapped in 10 yards of ribbon. Since 1987, the Kroger Company began constructing the prestigious garland in one of its local stores for the public to view, on 'Derby Eve'.

Of the horses in the line up for Saturday May 4th, we'll already know who the winner is, when you receive this email in your inbox on Monday. Those on tap to tear up the track including status and odds as of Friday May 3rd:

Black Onyx SCR

Oxbox 25-1

Revolutionary 5-1

Golden Soul 31-1

Normandy Invasion 8-1

Mylute 14-1

Giant Finish 44-1

Goldencents 5-1

Overanalyze 14-1

Palace Malice 26-1

Lines of Battle 42-1

Itsmyluckyday 11-1

Falling Sky 49-1

Verrazano 11-1

Charming Kitten 32-1

Orb 6-1

Will Take Charge 31-1

Frac Daddy 15-1

Java's War 22-2

Vyjack 43-1

May 6, 2013


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