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 My Favorite Speculative Stock Blows Away Wall Street
(Posted Jul 26)
Ford Motor Co. (F, $13), my AOL "stock pick of the year" blew past Wall Street estimates last Friday. It's now up 30% from our recommended price, and is trading substantially above its moving average. For the second quarter, revenue rose 17% to $31.1 billion, and earnings gained $2.6 billion, or 68 cents a share. (Last year, it lost money.)
 Stocks and commodities continued to be volatile in the face of a monetary contraction, rising taxes, excessive regulation and a global slowdown. For the short term, it pays to be defensive in your investment portfolio. Greg Mortenson’s address was postponed because President Barack Obama made an unexpected trip to Las Vegas, keeping Mortenson’s plane from landing. Obama apparently came to counter the FreedomFest talk of Nevada's Republican U.S. Senate candidate Sharron Angle and to give support to her floundering rival, Senate Majority Leader Harry Reid. In a three-hour, pre-conference seminar, I gave a presentation "What Every Investor Should Know about Austrian and Keynesian Economics." I introduced Burt Malkiel, finance professor at Princeton University and author of the classic book "Random Walk Down Wall Street." Wall Street and global markets continued to struggle in the summer of 2010. One area of investing that is not declining, and actually is booming is, believe it or not, the mortgage bond market. Last month, Fed Chairman Ben Bernanke reported to the Senate Banking Committee that the economic outlook appears "unusually uncertain." Actions to Take This Month
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