Accounting & Investing Info for San Antonio A & M
Tuesday March 19 2013
I received this update late toda from SA CPA, Will some of you please apply for these scholarships?
And we are also offering two Becker CPA Review Course partial scholarships as well: http://www.sacpasociety.com/inews/cpa-inews/2013/02/26/sacpas-becker-exam-review-scholarship-help-available
Same March 28 deadline; to date, NO ONE has applied for either of these partial scholarships!
Tuesday March 19 2013
Thursday at Noon March 28 2013 Tim Kuhn, Chief Internal Auditor for Holt CAT will speak to our students and faculty. Here is a brief bio on Tim Kuhn.
Tim graduated from Texas A&M (College Station) in 2007 with Bachelor’s degree in Accounting and Master’s degree in Management Information Systems (MIS). He worked at Deloitte & Touche in Washington, D.C., Houston, and Austin for a combined 4½ years where he was part of the Technology side of the Enterprise Risk Services (ERS) practice. During this time, he was primarily focused on internal control implementations and assessments. In 2011 he became the Internal Audit Manager of ISS Facility Services where he developed an understanding of the Internal Audit role in privately held companies. Tim moved on to Holt CAT in July 2012 where he assumed his role as the Internal Audit Manager. Since being there, he has been working to broaden the scope of the Internal Audit function to address widespread organizational risks. Tim is a Certified Public Accountant (CPA) and has recently completed all of the requirements to become a Certified Internal Auditor (CIA).
About ten of our faculty toured HOLT CAT this past year. HOLT CAT is the largets CAT dealer in the US with yards from the Red River to the Rio Grande. It is headquartered in San Antonio on W W While Road near our campus. Click to learn more about HOLT CAT.
Tuesday March 19 2013
Jessica Wertz from the local Institute of Management Accountants will present along with the national spokesperson from IMA. This is scheduled for Thursday March 21 2013 in the small auditorium at Brooks. We will discuss the Certified Management Accountant Designation. Ericka Barrientos will also speak on the Gleim material available for the exam.
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Jessica Wertz |
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CMA- Finance & Controlling Lead, SAP Implementation & Business Process Redesign at Yazaki North America |
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Locall chapter
National Chapter
Tuesday March 19 2013
LULU pulls sheer pants from shelves, stock drops 6%.
I have mentioned this yoga apparel retailer Lululemon many times in class. In a hilarious an dperhaps unintentional play on words LULU admits to be exposed to having too few suppliers. In class I have noted massive insider selling among corporate insiders.
My take is that this stock has been way overextended for some time, all it needed was a whiff of bad news to take it down. There are no buyers for the stock left out there.
Tuesday March 19 2013
Here is another link
Scholarship deadlines for SA CPA are March 28 Has anyone applied?
Tuesday March 19 2013
Cyprus Seizes Bank Account Deposits
My campaign of urging students to become more aware of current events appears to be paying off. An alert student sent the above article. I also featured a similar article on The Market Perspective this weekend.
Here is the story. Cyprus banks hold a lot of marginal Greek bonds and bank loans. So the banks are in danger of being under capitalized. To make up for this, the Cyprus politicians got the bright idea of absconding with ten percent of so of the larger deposits. Why you ask. Because many Russians, not citizens of Cyprus have deposits there. But they took about 6% of smaller, read Cyprus citizen deposits. And of course these individuals are not responsible for the problem. Today the Russian Government is criticizing the move.
This is how a run on banks begins. People lose faith and believe they cannot get their money back. Now many banks there are closed as are the ATMS. When they finally re open there may well be a masss demand for return of deposits. In a fractional banking system, it is of course not possible to return all the deposits as they have been loaned out. And that is how politicians thinking short term arrange to turn a short run problem in to a long run disaster.
Monday March 18 2013
Tiger Woods was the subject of at least one essay in my ethics class. The author suggested he was gaining acceptance again. And so today I see that he and Lindsay Vonn the skier are an item. He evenloaned her the jet.
Or as was said back in the day about Jane Fonda and
Ted Turner, they have been seen together on several continents.
March 12 2013
Back on February 20 2013 I mentioned the San Antonio CPA CE Foundation Scholarships.
This is the link to the qualifications and application. I am not aware of anyone discussing this with me, has anyone applied?
Here is another scholarship for the Becker CPA review program.
All we know for sure is this.
If you do not apply there is no way you are going to win the scholarship.
deadline is March 28 2013 at SA CPA Office on 901 NE Loop 410 Suite 420
Socionomics
Market tops are accompanied by bold colors and expansive displays of wealth. At the same time fractal negative readings are occurring. We have highlighted many of these the last few days and found a few more worth mentioning
In the San Antonio we learn of Bold spring
Courageous color, gutsy prints, fearless fabrics — there's nothing shy about spring fashion.
Consider Ralph Lauren's jumbo ruffles, Rachel Zoe's androgynous leather and Tadashi Shoji's nearly neon lace. And then, there are Marc Jacobs' whopping stripes — loudest in black and white.
Bold modern floral motifs and other unexpected digitally produced prints from photographs of nature and people are also among spring's extraordinary — and wearable — works of art.
William Flynn, a Cape Cod Barber, ran $150,000 into $500,000. He has been through two booms and
busts in the thirteen years since. The article details that his barber shop has gone from a hub of investment speculation to Wall Street being a taboo topic. I mention this as the perfect example of someone who failed to realize the change from an 18 year period of expansion, 1982-2000, to a period of stagnation, 2000-present. The best bet is that we now have yet another big fall ahead of us, this would duplicate past such period.
We hope that reading TMP will allow you to avoid the kind of mistakes that still plague Mr. Flynn's barber shop.
And finally we hope you are getting the idea of expressions of social mood at the top. Faster, bigger, bolder, expansive. Seeking to break records not only on the racetrack but at sea as well, on again off
again Maserati has found a home with Ferrari.Maseratil has sponsored a sailboat which just set a new record on the New York to San Francisco round the tip of South America at Patagonia voyage.
Or as Hal Holbrook remarked to Charlie Sheen in Wall Street, 'enjoy it while it lasts son, cause it never does.'
Does a car companhy helping set a sailing record sell more cars, I wonder…
Thursday March 7 2013
Commodity Fuds experienced sharp gains yesterday while some blue chips are looking toppy.
XME
A 3.3% gain after weeks and weeks of downtrend is impressive. Funds who are short must eventually buy back positions. And money is beginning to shift from the blue chip favorites.
The polar opposite of XME GDXJ COPX is surely Google, not the totally opposite CCI at bottom of these two charts.
A seven dollar drop is not much for a $840 stock but then there aren't many $840 stocks. Remember in the final stages of an equity bull market funds and the public crowd into fewer and fewer stocks, this is precisely why those stocks are still rising. But with such a concentration, once selling begins, there are few to no bids, there is no one left to buy. And the air pocket drops being, witness AAPL and RAX as we have said.
GDXJ Two Hour Chart
There is a clear five waves down and then a reversal on big volume.
So, the transition will take some time but it appears it has begun. We listed several articles on how Central Banks around the world will flood their economies with money trying to get things going. But spiking commodity prices is the more likely result.
Obama's popularity was peaking as he went into the Sequester. I suspect that his popularity peaked with trying to convince the country that a 2% cut would have disastrous consequences. it figures that would happen at maximum mood for equities which should be occurring over the next month or so. Recall our analogy to 1973-74. Nixon was re elected in a landslide in November 1972 and peaked at his inauguration. Obama is running about one month behind that schedule. Nixon could not imagine he would be shunted form office 18 months later. And mood is similarly high at the White House now. This will be an interesting parallel to track for politics and the markets. Successful markets make leaders appear successful. Bill Clinton had the phenomenal luck that his term ended just before the peak in the dot.coms in March 2000. Jimmy Carter, Richard Nixon, and now Obama were not so lucky.
Thanks for reading TMP.
Professor Elam 