Actions speak louder than words, as the old saying goes. So why does the media focus so much attention on what Wall Street says about companies, instead of what it does with them?
It pays to be skeptical when you invest. In addition to doubting what the analysts tell you, you often have to discount what the companies tell you, too. On Wall Street, going against the grain can reap huge rewards. Like baseball's greatest place hitter, "Wee Willie" Keeler, great contrarian investors such as Benjamin Graham, Warren Buffett, and John Neff "hit 'em where they ain't."
"Dude, you should've seen this fish. I swear, it was this big [demonstrates, spreading arms wide] -- but it got away."
Everyone's got a favorite fish story, and now, oven maker and Motley Fool Hidden Gems recommendation Middleby (Nasdaq: MIDD) has one, too. While most investors were preoccupied with the big news Monday -- Blockbuster 's (NYSE: BBI) decision to bid for Circuit City (NYSE: CC), perhaps, or Wachovia 's (NYSE: WB) $7 billion capital infusion -- yours Fool-y focused on a lower-profile story that just might interest Hidden Gems subscribers more: Manitowoc (NYSE: MTW) is buying Enodis .
With no market bottom in sight, recent market volatility has wreaked havoc in many portfolios. Security prices that seemed cheap continue to go down, taking investment returns with them.
Washington -- Chinese consumer demand for household items, from refrigerators to computers, has dropped significantly since 2004, a Gallup Poll found.
More than half of Chinese consumers say they don't want a microwave oven (58 percent), a computer (56 percent) or an air conditioner (57 percent), the Gallup Organization poll found.
More than four in 10 (44 percent) have no intention of owning a refrigerator, the poll found.
Close to two-thirds (64 percent) say they don't ever plan to own a private automobile.
"Clearly it's a mistake to assume that all Chinese households are eager to possess what some already do," Gallup brand management global practice leader William McEwen said.
In addition, "marketers' sales volume projections may need to be tempered to reflect a Chinese consumer who is more savvy, skeptical and strategic than previously assumed," McEwen said.
Mclean, Va. -- U.S. homeowners who refinanced their mortgages overwhelmingly switched to fixed-rate mortgages, U.S. mortgage-finance giant Freddie Mac said Monday.
Between April and June, 85 percent of borrowers who originally had one-year adjustable-rate mortgages, and 86 percent of borrowers who initially had hybrid adjustables, changed to fixed-rate loans, Freddie Mac said.
New York -- Oil futures rose $1.05 to $72.86 a barrel Friday.
It was the second day in a row oil prices moved past the $72 mark, the first surge fallng back after government data showed an unexpectedly large increase in crude stockpiles.
Heating oil was down 0.52 cents at $2.0821 a gallon and reformulated gas dropped 0.28 cents at $2.2815 a gallon.
Washington -- More homeowners in the United States were behind on their mortgages during the first quarter this year than last, an industry group reported Thursday.
The delinquency rate for residential mortgage loans was 4.84 percent of all outstanding loans during the first quarter, up 43 points from a year ago and down 11 points from the last quarter of 2006, the Mortgage Bankers Association said in a news release.
