Bes Stocks To Buy 2014, Best Stocks For 2014: 6/1/14

Saturday, June 7, 2014

Push Is On for More Female Financial Planners

management's office space one ... M. Niebuhr/Shutterstock Ever since Manisha Thakor, the founder of MoneyZen Wealth Management, entered the financial services field, she's been one of the few women at the table. "In my early 20s, I tried to behave like the other people around me by wearing dark suits, being serious and showing no sign of feminine energy, but eventually the real me broke through," she says. As her real self, which Thakor describes as "authentically quirky," she has found her greatest success: Now in her mid-40s, she runs a thriving business helping clients –- who are mostly women –- manage their money, and she is also a popular author, speaker and expert on personal finance issues. She attributes her ability to get ahead in a male-dominated field to her early financial education: Her father taught her about investing when she was 11. She was fascinated and went on to pursue an investment banking career and then an MBA at Harvard University. Many leaders in the financial services field hope that more women will start following Thakor's path. According to the Certified Financial Planner Board of Standards, 23 percent of CFP professionals are women, which inspired them to launch an initiative to attract more women into the field last year. "There are so many women who are not seeing that opportunity [to become a CFP]. ... Men do not indicate that same lack of knowledge about financial planning," says Eleanor Blayney, consumer advocate for the board. Old Boys Clubs? Sharks? Lower Pay? Tim Maurer, a certified financial planner and director of personal finance at the BAM Alliance, a group of independent advisers, says there's a perception of the industry as an "old boys club." "Although there's been some improvement, there's a lot of truth to that perception," he says. An April report by the board found that women are less aware of the financial planning field than men, and they also believe that the profession is focused exclusively on quantitative analysis and number crunching rather than long-term relationships with clients. "Financial planning is not the same as making investments or product sales," Blayney says. "It's a much more comprehensive, holistic, relationship-driven kind of practice. You're working with people over time, and not just putting a life insurance policy in place and moving on. You're a problem-solver for individuals and families." Another issue is the salary discrepancy women face in the field, Blayney notes. The pay differential between male and female financial advisers is significant. Aite Group surveys from 2012 and 2013 found female financial advisers earn on average $32,000 less than male advisers. "The pay differential is disturbing, but not all that surprising, because we know it's the same in many other professional areas," Blayney says. More Personal and Relational Some female financial advisers report that being a woman can be an advantage. Thakor built a wealth management practice serving primarily female clients with $3 million or more in assets. Some clients, especially women, say they prefer working with a female adviser. "Female advisers are more naturally skilled in the more personal and relational elements of planning," Maurer says. "It would be a mistake, however, to presume that they are less skilled in the more technical and analytical elements of a planning practice." To bring more women into the field, the board plans to increase education and awareness of the profession, starting with young girls and continuing on up to women in college and business graduate school. "They can see that jobs in the financial services aren't all 'sharks on Wall Street'. ... it's a profession that's built around helping others," Blayney says. She adds that the job also allows a large amount of flexibility and telework opportunities, which can help parents of both genders balance home and work responsibilities. Thakor thinks the first step is introducing girls to financial concepts at an early age, as her father did for her. "I've noticed boys tend to engage in more 'social talk' around business and money concepts in high school and college than girls do," she says, which can help kids become more familiar with finance-related fields. As a result, she adds, "When the option of being a financial adviser comes up as a possible career path, it feels more relevant to their lives." Plus, "Attracting more women will in turn become part of the solution, because they will have more role models and mentors," Blayney says.

5 Best Healthcare Technology Stocks To Buy For 2015

The head of Barilla pasta said he will meet with gay groups, and that he "has much to learn" about the evolution of the family.

NEW YORK (CNNMoney) The head of Barilla pasta issued a new apology and said he will meet with gay groups, adding he "has much to learn" about the evolution of the family.

Guido Barilla, president of Barilla, said on an Italian radio program last week that he wouldn't feature same-sex couples in his company's commercials because he prefers the "traditional" family. The company quickly issued a statement apologizing for the comment.

Now Barilla has posted a video of him apologizing in English on its Facebook page.

"Through my entire life I have always respected every person I've met, including gays and their families, without any distinctions," he said. "I've never discriminated against anyone." He said the was "depressed and saddened" by the reaction to his comments.

5 Best Healthcare Technology Stocks To Buy For 2015: Bouygues SA (EN)

Bouygues SA is a France-based group that operates in two sectors: Telecommunications and Media, and Construction. The Construction division comprises three core subsidiaries: Bouygues Construction, specializing in building and public works activities, notably in the areas of electrical engineering, and facility maintenance; Bouygues Immobilier, a property development company, whose activities include the development of residential, corporate and commercial properties, and the execution of urban development schemes, and Colas, engaged in the construction and maintenance of transport, urban development and leisure infrastructure. The Telecommunications and Media division of the Group comprises two companies: TF1, specializing in audiovisual and cinema production, the acquisition and sale of audiovisual rights, and the publishing and distribution of compact discs, among others, and Bouygues Telecom, which offers mobile telephone and broadband Internet services. Advisors' Opinion:

[By Sofia Horta e Costa]
Bouygues SA (EN), the French building, telecommunications and television company, surged 7.2 percent to 26.96 euros, the highest close since November 2011. Credit Suisse Group AG upgraded the shares to neutral, similar to a hold recommendation, from underperform.

5 Best Healthcare Technology Stocks To Buy For 2015: Standard Parking Corporation(STAN)

Standard Parking Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States and Canada. Its services include collection and deposit of parking revenues; daily housekeeping; restriping of the parking stalls; maintenance of parking equipment, such as ticket dispensing machines, parking gate arms, and fee computers; painting of walkways, curbs, ceilings, walls, and other facility surfaces; and snow removal from sidewalks and driveways. The company also provides shuttle bus vehicles and drivers to operate them in support of on-airport car rental operations, as well as private off-airport parking locations; and ancillary ground transportation services at airports, such as taxi and livery dispatch, concierge-type ground transportation information, and support services for arriving passengers. In addition, it offers shuttle bus services, on-street parking meter collection, a nd other parking enforcement services for municipalities; and valet parking and shuttle bus services for the medical center and hospital markets. The company serves private and public owners, municipalities, managers and developers of office buildings, residential properties, commercial properties, shopping centers and other retail properties, sports and special event complexes, hotels, and hospitals and medical centers. As of December 31, 2011, it managed approximately 2,200 parking facility locations containing approximately 1.2 million parking spaces in approximately 345 cities; operated 147 parking-related service centers serving 61 airports; and a fleet of approximately 550 shuttle buses. The company was founded in 1929 and is headquartered in Chicago, Illinois.

Advisors' Opinion:

[By Namitha Jagadeesh]
Elekta AB dropped 4.3 percent after posting quarterly profit that missed forecasts. Standard Chartered (STAN) Plc slid 6.6 percent. PSA Peugeot Citroen advanced 2.4 percent as Goldman Sachs Group Inc. added the shares to its conviction-buy list.
[By Namitha Jagadeesh]
A gauge of banking shares in the FTSE 350 Index reversed earlier gains, declining 0.5 percent. Standard Chartered Plc (STAN) fell 1.8 percent to 1,470 pence and Royal Bank of Scotland Group Plc lost 2.6 percent to 276.7 pence.

Hot Sliver Companies To Buy For 2015: China Teletech Holding Inc (CNCT)

China Teletech Holding, Inc., formerly Guangzhou Global Telecom, Inc., incorporated on March 29, 1999, is a distributor of pre-paid calling card and integrated mobile phone handsets and a provider of mobile handset value-added services. The Company serves as one of principal distributors of China Telecom, China Unicom, and China Mobile products in Guangzhou City. The Company is also developing an on-line refill platform with China Mobile to develop its on-line business in the Guangdong Province. On March 30, 2012, the Company acquired China Teletech Limited.

The Company operates its business through its subsidiaries in China: Guangzhou Renwoxing Telecom Co., Ltd., Guangzhou Global Telecommunication Co., Ltd., Guangzhou Rongxin Technology Co., Ltd., and Shenzhen Rongxin Investment Co., Ltd. The Company also engages in the business of wholesale and distribution of mineral water, as well as trading of wine in China. The Company has cooperative distribution relationships with Panasonic, Motorola, LG, GE, Bird, Samsung corporations for their mobile handsets.

Advisors' Opinion:

[By MARKETWATCH]
HONG KONG (MarketWatch)-- Hong Kong stocks rose early Thursday, as China Mobile Ltd. shined on news of iPhone pre-orders hitting 1 million units. The Hang Seng Index (HK:HSI) added 0.6% to 23,032.09. Market heavyweight China Mobile (HK:941) (CHL) rallied 0.9%, as the world's largest mobile carrier said it has received more than 1 million pre-orders for the iPhone before it goes on sale in the carrier's stores on Friday, at a time when Apple Inc. (AAPL) Chief Executive Tim Cook visited Beijing for future cooperation between the two giants. Telecom equipment shares also advanced, with ZTE Corp. (HK:763) (ZTCOF) rising 1.2%. Meanwhile, China Mobile's smaller rivals slipped, as China Unicom (HK:762) (CHU) dropped 0.7%, and China Telecom (HK:738) (CNCT) fell 0.5%. China South City Holdings (HK:1668) , a developer of logistics and trade centers, surged 56%, after the company announced that Internet giant Tencent Holdings (HK:700) (TCTZF) would invest about 1.5 billion Hong Kong dollars ($195 million) for an almost 10% stake in the developer in order to expand their business online, including e-commerce and online payment services. Tencent Holdings (HK:700)

5 Best Healthcare Technology Stocks To Buy For 2015: Chromadex Corp (CDXC)

Chromadex Corporation, incorporated on June 19, 2008, is a provider of research and quality-control products and services to the natural products industry. The Company�� products are used by customers worldwide in the dietary supplement, food and beverage, cosmetic and pharmaceutical industries. The Company together with its subsidiaries supplies phytochemical reference standards, which are small quantities of plant-based compounds used to research an array of potential attributes, and reference materials, related contract services, technical consulting and ingredients. On December 3, 2012, ChromaDex Inc. acquired Spherix Consulting Inc. The Company�� principal subsidiaries include ChromaDex, Inc., Chromadex Analytics, Inc. and Spherix Consulting, Inc (Spherix).

The Company provides its clients in the food, supplement and pharmaceutical industries with solutions to manage potential health and regulatory risks. Its science-based solutions are for both new and existing products that may be subject to product liability and/or exposed to changing scientific standards or public perceptions; literature evaluations, and design and assessment of pre-clinical and clinical safety testing. It specializes in regulatory submissions for food and dietary supplement ingredients. For its clients involved in drug development within the pharmaceutical industry, the Company provides similar services, as well as risk-based strategies, including intellectual property data and compliance gap identification, due diligence assessments and investigational new drug writing.

Products and Services

The Company offers bulk raw materials for inclusion in dietary supplements, food, beverage and cosmetic products. Through its catalog, it supplies a range of products necessary to conduct quality control of raw materials and consumer products. The Company through Chromadex Analytics, provides a range of contract services ranging from routine contract analysis for the production of dietary sup! plements, cosmetics, foods and other natural products to elaborate contract research for clients in these industries. The Company provides a range of consulting services in the areas of regulatory support, new ingredient or product development, risk management and litigation support. With an addition of Spherix, it provides regulatory approval and scientific advisory services.

The Company competes with Sigma-Aldrich, Phytolab, US Pharmacopoeia, Extrasynthese, Covance, Eurofins, and Silliker Canada Co.

Advisors' Opinion:

[By Peter Graham]
Small cap stocks Chromadex Corp (OTCMKTS: CDXC) and 22nd Century Group Inc (OTCBB: XXII) are, one way or the other, focused on natural products and have been getting some extra attention lately. Moreover, one of these stocks have been the subject of a disclosed investor awareness campaign. Keeping that in mind, are these two small cap stocks natural winners for investors? Here is a quick look:

5 Best Healthcare Technology Stocks To Buy For 2015: Tesla Motors Inc.(TSLA)

Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles and advanced electric vehicle powertrain components. It offers Tesla Roadster, an electric sports car. The company markets and sells its vehicles directly to consumers through the phone and Internet, as well as through its network of Tesla stores. It operates 18 Tesla stores located in Boulder, Chicago, Los Angeles, Menlo Park, Miami, New York, Newport Beach, San Jose, Seattle, Washington, D.C., Copenhagen, London, Milan, Monaco, Munich, Paris, Tokyo, and Zurich. The company was founded in 2003 and is headquartered in Palo Alto, California.

Advisors' Opinion:

[By Rick Munarriz]
Well, Tesla Motors (NASDAQ: TSLA ) is doing its part. The fast-growing maker of electric cars announced on Wednesday that it was dramatically expanding its Supercharger network. These are charging stations that allow Tesla Model S drivers to recharge their speedsters for free. Ramping up its fleet of charging stations will allow more customers to plan long treks without having to worry about range anxiety.
[By Glenn Singewald]
Does China dream of electric wheels? Tesla Motors (NASDAQ: TSLA ) must soon face the answer to that question. The company's success -- and its�stock price -- hinges on sales growth in China. This Fool proposes that Tesla could win big because its value proposition invokes modern China's dream.
[By John Udovich]
There has been plenty of interesting news�coming from the electric vehicle industry as well as from large cap stock Tesla Motors Inc (NASDAQ: TSLA) and small cap players like� Kandi Technologies Group Inc (NASDAQ: KNDI), HydroPhi Technologies Group, Inc (OTCMKTS: HPTG) and Green Automotive Co (OTCMKTS: GACR):

3 Ways to Play the Natural Gas Price Rise

Natural gas isn't as cheap as it was a year ago and that's leading to big changes in the energy market. That will be a good thing for Ultra Petroleum (UPL), Royal Dutch Shell (RDS.B) and Alliance Natural Resource Partners (ARLP).

Gas Costs

Drilling for natural gas costs money. How much varies by company, but Ultra Petroleum pegs the average cost at about $7, with a high of around $10 and a low of $3. Ultra is among the lowest-cost producers. However, with natural gas trading in the $4 range, a lot of drillers aren't making money.

So, while natural gas prices have increased notably off of their lows in the $2 range, they still aren't high enough for the natural gas industry to see big profits. A company like Ultra, however, is benefiting now from rising prices.

Ultra's revenues and earnings jump around, like most commodity-focused companies. And 2012 was a particularly ugly year because a $2.9 billion non-cash write-down of its gas properties led to a loss of more than $14 a share. That write-down, however, is likely to be reversed in the future as natural gas prices recover, and it didn't affect the company's underlying business.

As natural gas prices rise, look for Ultra to be among the first in line to benefit. The shares offer aggressive investors notable upside potential.

Less Risk

Another company set to benefit from rising natural gas prices is Royal Dutch Shell. Shell was among the big players to invest heavily in U.S. natural gas assets as gas prices headed to their highs. That investment quickly turned into a notable problem when prices fell to historic lows.

This investment, coupled with troubles finding new sources of oil, has been a notable drag on the stock. For example, despite their very similar makeups, ExxonMobil and Chevron are both afforded premium prices compared to Shell. In fact, Shell's around 5.3% yield is nearly twice that of Exxon and about two percentage points higher than Chevron.

All three of the integrated oil giants see their top and bottom lines jump around a lot. However, like the other two, Shell has a solid history of regular, though not annual, dividend hikes. Moreover, it is financially strong and offers investors a way to play a gas rebound without the need to invest in a company almost totally dependent on natural gas.

The In-Between Number

With an average break-even price of $7, natural gas drillers are going to have a tough go of it. That's because high gas prices generally lead electric utilities to switch from gas to cheaper coal. For example, BP's annual energy review highlighted that natural gas consumption grew in the U.S. in 2012, but fell in Europe.

The reason is that natural gas is more expensive in the Old World. However, that trend is one that investors need to watch closely. For example, Peabody Energy reported that through the first four months of the year, natural gas use by utilities declined 14% and coal use increased 11%. The rise in natural gas prices was the reason, as utilities switched to the lowest cost fuel source to protect profit margins.

So, companies like Peabody and Alliance Natural Resource Partners will also benefit from increasing gas prices. Alliance, however, is particularly well positioned. Almost all of its coal comes from Northern Appalachia and the Illinois Basin, two areas that produce coal competitive with natural gas, priced as low as $3.

For more aggressive investors willing to get involved in a totally unloved natural resource, Alliance is a good option for playing rising gas prices. Despite a weak coal market, this limited partnership has been posting record results. Production increases have been able to offset weak coal prices and allowed Alliance to gain market share. This year should see another record and more quarterly dividend increases.

With a yield of around 6.3%, this domestically focused coal company is set to pay investors and rebound strongly as natural gas prices make coal more desirable to utilities.

How High?

Cheap prices have been a boon to demand for natural gas recently. However, there are long-term trends afoot that should support still higher prices. The biggest factor will be the creation of a notable export market, which doesn't really exist in the United States today. Natural gas being used as a vehicle fuel is another support.

Ultra is a high-risk and direct play on rising prices, while high-yielding Shell shares offer notable exposure backed by a solid and diversified business. Alliance, meanwhile, is a high-yield option that will benefit indirectly for those seeking a contrarian investment.

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Friday, June 6, 2014

Hot Up And Coming Companies For 2015

For Jack Ablin, Chief Investment Officer at BMO Private Bank, the minimum wage should be raised, and here are his reasons why.

TERRY: I'm Terry Savage from MoneyShow.com. We're talking with Jack Ablin, chief investment officer of BMO, that's Bank of Montreal private bank, 60-plus billion dollars in assets. We were talking off camera about raising the minimum wage. The president said that will happen for federal works, he can do that. There's a lot of move afoot to raise the minimum wage. Good idea or bad?

JACK: I think it's a good idea. I would call it a fix, not a solution, but one that I think could actually start our economy moving higher. Consider that for example the biggest beneficiaries of the minimum wage aren't necessarily minimum wage workers, it's the companies that they work for, so you take for example a large company that pays minimum wage. They work full time, they don't earn a living wage, and so now we as tax payers have to subsidize their income to bring them up to a living wage standard. What I would rather see is have the companies pay the minimum wage and let the market decide whether we want to do business, whether we want to subsidize those companies or not.

Hot Up And Coming Companies For 2015: Forestar Group Inc (FOR)

Forestar Group Inc. (Forestar) is a real estate and natural resources company. The Company owns directly or through ventures almost 147,000 acres of real estate located in nine states and 12 markets and about 595,000 net acres of mineral interests. As of December 31, 2011, the Company had approximately 131,000 acres of timber on its 147,000 real estate acres and about 17,000 acres of timber under lease. During the year ended December 31, 2011, the Company generated revenues of $136 million. It operates in three segments: Real estate, Mineral resources and Fiber resources. Its real estate segment generated 78% of its 2011 consolidated revenues. The Company sells wood fiber from portions of its land, primarily in Georgia, and lease land for recreational uses. It leases its mineral interests to third parties for the exploration and production of oil and natural gas, principally in Texas and Louisiana. On January 20, 2012, it sold its 25% interest in Palisades West LLC to Dimensional Fund Advisors L.P. In September 2012, the Company acquired CREDO Petroleum Corp.

Real estate

In the Company�� real estate segment, it conducts an array of project planning and management activities related to the acquisition, entitlement, development and sale of real estate, primarily residential and mixed-use communities. It owns and manages its projects either directly or through ventures. Its development projects are principally located in the markets of Texas. The Company has over 16,000 acres entitled, developed and under development, consisted of land planned for over 27,000 residential lots and about 2,500 commercial acres. In 2011, it sold over 17,000 acres of undeveloped land through its retail land sales program. In addition, it sold 112 entitled acres from two residential projects. The majority of its projects are single-family residential and mixed-use communities. During 2011, the Company acquired 180 substantially completed residential lots in Houston, Texas; three multifamily develo! pment sites located in Austin, Denver, and Dallas.

The Company develops lots for single-family homes and develops multifamily properties on its commercial tracts or other developed sites it may purchase. In addition, the Company sells commercial tracts that are ready for construction of buildings for retail, office, industrial or other commercial uses. It sells residential lots primarily to national and regional homebuilders and, to a lesser extent, local homebuilders. The Company has 75 entitled, developed or under development projects in seven states and 11 markets, principally in the markets of Texas, encompassing over 16,000 remaining acres, consisted of land planned for over 27,000 residential lots and about 2,500 commercial acres. It also markets and sells undeveloped land through its retail sales program.

Commercial tracts are developed internally or sold to or ventured with commercial developers that specialize in the construction and operation of income producing properties, such as apartments, retail centers, or office buildings. The Company also sells land designated for commercial use to regional and local commercial developers. It has about 2,500 acres of entitled land designated for commercial use. Cibolo Canyons is a mixed-use project in the San Antonio market area.

Mineral Resources

The Company owns mineral interests beneath approximately 595,000 net acres located in the United States, principally in Texas, Louisiana, Georgia and Alabama. It is engaged in leasing certain portions of these mineral interests to third parties for the exploration and production of oil and natural gas. Of the Company�� 595,000 net acres of mineral interests, about 515,000 net acres are available for lease. It has about 80,000 net acres leased for oil and natural gas exploration activities, of which about 32,000 net acres are held by production from over 530 oil and natural gas wells that are operated by others. During 2011, the Company acquired unproved le! asehold p! roperties associated with 13,000 net mineral acres in Alabama and Georgia.

The Company has about 251,000 net mineral acres in East Texas and about 144,000 net mineral acres in Louisiana located within the East Texas and Gulf Coast Basins. It has mineral interests in and around production trends in the Wilcox, Frio, Cockfield, James Lime, Pettet, Travis Peak, Cotton Valley, Austin Chalk, Haynesville Shale and Bossier formations. The Company has about 1,000 net mineral acres in the Fort Worth Basin. It also has mineral interests in and around the Barnett Shale. The Company has about 40,000 net mineral acres in Alabama and about 157,000 net mineral acres in Georgia. The Company did not drill any wells in 2011.

Fiber Resources

The Company has about 131,000 acres of timber it owns directly or through ventures and about 17,000 acres of timber under lease. In 2011, it sold to Temple-Inland, over 323,000 tons of timber from its lands. During 2011, about 131,000 acres of its land, primarily in Georgia, were leased for recreational purposes. During 2011, the Company sold 57,000 acres of timberland in Georgia, Alabama, and Texas.

Advisors' Opinion:

[By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Forestar Group (NYSE: FOR ) , whose recent revenue and earnings are plotted below.
[By Andy Batts]
The shares of Forestar Group (FOR) are trading at ~30% discount to the company's NAV. The company operates in three business segments: real estate, oil and gas, and other natural resources. Forestar has a rich portfolio of assets and businesses, including 133,000 acres of real estate; 752,000 acres of oil and gas properties; 1.5 million acres of water rights; and 275,000 acres of timberland.

Hot Up And Coming Companies For 2015: Harman International Industries Incorporated (HAR)

Harman International Industries, Incorporated designs, develops, manufactures, and markets audio products, lighting solutions, and electronic systems, as well as digitally integrated audio and infotainment systems for the automotive industry worldwide. Its Infotainment segment offers infotainment systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers. The company�s Lifestyle segment provides automotive audio systems for vehicle applications; and a range of mid-to high-end loudspeaker and electronics for home, multimedia, and mobile applications. It also offers home audio and theater systems, and distributed systems for home applications; a range of accessories, such as earbuds and noise cancelling headphones for multimedia applications; transducers and built-in speakers for notebook computers; audio systems for personal computers; and aftermarket mobile products, including speakers, amplifiers, and digital signal proce ssors that deliver in-car audio. This segment markets its products under the JBL, AKG, Harman/Kardon, Infinity, Mark Levinson, Revel, Logic 7, Lexicon, and Selenium brand names. Its Professional segment provides a range of loudspeakers, power amplifiers, digital signal processors, microphones, headphones, mixing consoles, and IDX information delivery systems for concert halls, stadiums, airports, houses of worship, and other public spaces; products to the sound reinforcement, music instrument support, and broadcast and recording segments of the professional audio market; systems solutions for professional installations and users; and lighting solutions to the entertainment, architectural, and commercial sectors. This segment markets its products under the JBL Professional, AKG, Crown, Soundcraft, Lexicon, DigiTech, dbx, BSS, Studer, Martin, and Selenium brand names. Harman International Industries, Incorporated was founded in 1980 and is headquartered in Stamford, Connecticu t.

Advisors' Opinion:

[By Julia Leite]
South African miners rallied after a recovery in gold prices. The FTSE/JSE Africa All-Share Index climbed 1.5 percent in Johannesburg, with Harmony Gold Mining Co. (HAR) and AngloGold Ashanti Ltd. (ANG) adding at least 5.2 percent.
[By Ben Levisohn]
The Consumer Electronics Show begins next week–and it could have a big impact on the shares of Harman International (HAR), as Google (GOOG) and Apple (AAPL) look to make inroads in the auto space.
[By Sean Williams]
Today's top performer within the S&P 500 was audio products maker Harman International (NYSE: HAR ) , which rose 8.2% after easily trumping Wall Street's expectations with its third-quarter results. Although Harman's quarterly revenue declined 3%, to $1.06 billion, because of weakness in its Western Europe operations, its adjusted EPS of $0.79 handily crushed the $0.61 EPS projection of analysts. The company also boosted its EPS outlook for the year to $3.00 from a previous range of $2.70-$2.90, and sees revenue at the high end of its previous outlook of $4.18 billion to $4.25 billion. While this is definitely great news for shareholders, with little revenue growth expected this year and a P/E of nearly 16 based on its own forecast, I'd pass at these levels.
[By Ian Wyatt, Publisher & Chief Investment Strategist, Wyatt Investment Research]
Alexander Roepers, of Atlantic Investment Management, has returned 19.2% annually to his clients for the last 21 years—an enviable track record. He recommends Baker Hughes (BHI) and Harman International (HAR), with 25% to 50% share price upside potential.

5 Best Up And Coming Stocks For 2015: DaVita HealthCare Partners Inc (DVA)

DaVita HealthCare Partners Inc., formerly DaVita Inc., incorporated on April 4, 1994, is a provider of dialysis services in the United States for patients suffering from chronic kidney failure, also known as end stage renal disease (ESRD). As of December 31, 2011, the Company provided dialysis and administrative services through a network of 1,809 outpatient dialysis centers located in the United States throughout 43 states and the District of Columbia, serving a total of approximately 142,000 patients. It also provides acute inpatient dialysis services in approximately 900 hospitals and related laboratory services throughout the United States. In addition, as of December 31, 2011, it provided dialysis and administrative services to a total of 11 outpatient dialysis centers located in three countries outside of the United States. On September 2, 2011, the Company acquired CDSI I Holding Company, Inc., the parent company of dialysis provider DSI Renal Inc. In November 2011, the Company announced that its wholly owned European subsidiary, DV Care GmbH, acquired ExtraCorp AG. In January 2012, the Company acquired controlling interest in NephroLife. In September 2012, the Company announced that its new guest services contact center located in Centennial, Colorado was opened. On November 1, 2012, the Company announced the consummation of the merger of HealthCare Partners Holdings, LLC (HCP), with Seismic Acquisition LLC, a wholly owned subsidiary of the Company, with HCP as the surviving entity (the Merger). The Merger, HCP became a wholly owned subsidiary of the Company. In January 2013, the Company acquired nine dialysis centers from Fresenius Medical Care (FMC), provider of dialysis services and manufacturer of dialysis products.

During the year ended December 31, 2011, the Company acquired a total of 178 dialysis centers, eight of which were located outside of the United States, opened 65 new dialysis centers, sold two centers, merged seven centers, and divested a total of 30 dialysis cent! ers in connection with the acquisition of DSI. It also added three dialysis centers under management and administrative service agreements that are located outside of the United States and added one center in which the Company owns a minority equity interest. The Company�� United States dialysis and related laboratory services business accounts for approximately 93% of its consolidated net operating revenues. Its other ancillary services accounted for approximately 7% of its consolidated net operating revenues during the year ended December 31, 2011.

Dialysis and Related Lab Services

As of December 31, 2011, the Company operated or provided administrative services through a network of 1,809 outpatient dialysis centers located in the United States and 11 outpatient dialysis centers located outside the United States that are designed specifically for outpatient hemodialysis. Many of the Company�� outpatient dialysis centers offer certain support services for dialysis patients who prefer and are able to perform either home-based hemodialysis or peritoneal dialysis in their homes. Home-based hemodialysis support services consist of providing equipment and supplies, training, patient monitoring, on-call support services and follow-up assistance. Registered nurses train patients and their families or other caregivers to perform either home-based hemodialysis or peritoneal dialysis.

As of December 31, 2011, the Company provided hospital inpatient hemodialysis services, excluding physician services, to patients in approximately 900 hospitals throughout the United States. It renders these services for a contracted per-treatment fee that is individually negotiated with each hospital. When a hospital requests the Company�� services, the Company administers the dialysis treatment at the patient�� bedside or in a dedicated treatment room in the hospital, as needed. In 2011, hospital inpatient hemodialysis services accounted for approximately 4.5% of its total United S! tates dia! lysis treatments. The Company owns two licensed clinical laboratories, which specialize in ESRD patient testing. These laboratories provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients. Its laboratories provide these tests primarily for its network of ESRD patients throughout the United States. These tests are performed to monitor a patient�� ESRD condition, including the adequacy of dialysis, as well as other medical conditions. During 2011, it operated or provided management and administrative services to 33 outpatient dialysis centers located in the United States and three outpatient dialysis centers located outside of the United States, in which it either owns a minority equity investment or are wholly owned by third parties. These services are provided pursuant to management and administrative services agreements.

Ancillary services and strategic initiatives

DaVita Rx is a pharmacy that provides oral medications to DaVita�� patients with ESRD. HomeChoice Partners provides personalized infusion therapy services to patients typically in their own. Intravenous and nutritional support therapies are typically managed by registered and/or board-certified professionals, including pharmacists, nurses and dieticians in collaboration with the patient�� physician in support of the patient�� ongoing health care needs. VillageHealth provides advanced care management services to health plans and Government agencies for employees/members diagnosed with Chronic Kidney Disease (CKD) or ESRD. Lifeline provides management and administrative services to physician-owned vascular access clinics that provide surgical and interventional radiology services for dialysis patients. Lifeline also is the owner of one vascular access clinic. DaVita Clinical Research conducts research trials principally with dialysis patients and provides administrative support for research conducted by DaVita-affiliated nephrology practices. DaVita Neph! rology Pa! rtners offers practice management and administrative services to physicians who specialize in nephrology. Practice management and administrative services include operations management, information technology support, billing and collections, credentialing and coding, and other support functions.

The Company competes with Fresenius Medical Care.

Advisors' Opinion:

[By Jon C. Ogg]
DaVita HealthCare Partners Inc. (NYSE: DVA) was the last of most important stakes that was grown in the Berkshire Hathaway portfolio. This was officially listed as 31.446 million shares, and that was higher last quarter, but more recent filings show that the stake is now even larger. Buffett likes owning a piece of the leader in kidney dialysis centers, and the company even entered a standstill agreement whereby Berkshire Hathaway is not to take more than a 25% stake. That stake is now about 17%, and we would expect that to only grow ahead. Shares were at $58.90 mid-Friday, against a 52-week range of $52.23 to $65.67, and versus an analyst consensus price target of $61.42.
[By Monica Wolfe]
DaVita Health Care Partners (DVA)
Fournier�� second largest holding is in DaVita Health Care Partners. The guru holds on to 2,675,972 shares, representing 2.54% of the company�� shares outstanding and 6% of his total portfolio.
[By John Udovich]
Small cap dialysis stock Rockwell Medical Inc (NASDAQ: RMTI) looks set to decline when the market opens after Brean Capital initiated coverage with a sell rating and a price target of $4.00, meaning it might be time to take a closer look at what is going on with the stock along with�the performance of large cap dialysis stocks DaVita Healthcare Partners (NYSE: DVA)�and Fresenius Medical Care (NYSE: FMS) along with small cap dialysis stocks NxStage Medical, Inc (NASDAQ: NXTM).�
[By Ben Levisohn]
DaVita HealthCare (DVA) has jumped 5.8% to $68.03 in pre-open trading after it beat earnings forecasts and settled a Federal investigation.

Dow Chemical (DOW) has dropped 1.7% to $45.85 after it the company told Dan Loeb to stuff it.

Hot Up And Coming Companies For 2015: Global Cash Access Holdings Inc. (GCA)

Global Cash Access Holdings, Inc., through its subsidiaries, provides cash access and data intelligence services and solutions to the gaming industry in the United States and internationally. Its cash access products and services include Casino Cash Plus 3-in-1 ATM, a cash-dispensing machine that offers patrons to access cash through ATM cash withdrawals, point-of-sale debit card transactions, and credit card cash access transactions; check verification and warranty services, which allow gaming establishments to manage and reduce risks on patron checks that they cash; QuikCash, a non-ATM cash access kiosks; and money transfer services. The company also offers cash access equipment, such as full service kiosks, a multi-function patron kiosk for cash access into self-service kiosks for slot ticket redemption and bill breaking services, as well as jackpot kiosks. In addition, it provides information services, such as Central Credit, a gaming patron credit bureau that allows g aming establishments in credit-granting decisions; QuikCash Plus Web and QCPXpress that are cash access transaction processing systems for cashier operations; QuikReports, a browser-based reporting tool that provide access and analysis of information on patron cash access activity; and QuikMarketing/Casino Share Intelligence database services, as well as various Xchange Xplorer products. Further, the company offers cashless gaming products comprising QuikTicket that allows cash access transaction to be completed with a bar coded ticket in lieu of cash. Global Cash Access Holdings, Inc. sells its products and services primarily through direct sales force to traditional land-based casinos, riverboats and cruise ships with gaming operations, gaming establishments operated on Native American lands, pari-mutuel wagering facilities, and card rooms. The company was founded in 1998 and is headquartered in Las Vegas, Nevada.

Advisors' Opinion:

[By John Kell var popups = dojo.query(".socialByline .popC"); popups.forEach(func]
Shares of Global Cash Access Holdings Inc.(GCA) traded 9% lower to $7.22 premarket after the company disclosed it would no longer be providing payment services for casino operator Caesars Entertainment Corp.(CZR)
[By Evan Niu, CFA]
What: Shares of Global Cash Access (NYSE: GCA ) have plunged today by as much as 10% after the company reported first-quarter earnings.
[By Seth Jayson]
Global Cash Access Holdings (NYSE: GCA ) reported earnings on May 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Global Cash Access Holdings missed slightly on revenues and missed estimates on earnings per share.

Hot Up And Coming Companies For 2015: Dejour Energy Inc (DEJ)

Dejour Energy Inc. is engaged in the business of acquiring, exploring and developing energy projects with a focus on oil and gas exploration in Canada and the United States. The Company holds approximately 113,000 net acres of oil and gas leases in the Peace River Arch of northwestern British Columbia and northeastern Alberta, Canada and the Piceance, Paradox and Uinta Basins in the United States Rocky Mountains. The Company has 71.43% working interest in this 3,014 acre (gross) project located south of Roan Creek. The Company also has 71.43% working interest in this 18,000 acre (gross) project located north of the Rangely Field, is prospective for oil in the Lower Mancos (Niobrara), Dakota, Morrison and Phosphoria formations. Advisors' Opinion:

[By CRWE]
Vancouver, BC, Dec. 16, 2013 — (CRWE Press Release) — Dejour Energy Inc. (NYSE MKT:DEJ) (TSX:DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announces that it has signed a Letter of Intent to create a strategic joint venture partnership with a private Singapore based energy company (��ECO�� to develop the company�� Colorado oil and gas assets.

Upon completion of due diligence, legal documentation and requisite approvals expected prior to January 31, 2014, SECO will invest an initial sum of up to $27.5mm in 2014 and 2015 to earn an 85% share in Dejour�� interests in its Colorado properties, primarily Kokopelli, subject to certain interest claw backs available to Dejour. Following this capital investment by SECO, the partners will continue to judiciously develop the reserves on a pro rata basis.

The terms of the agreement include a capital injection to Dejour of approximately US$ 4.5mm, including cash and assumption of certain liability agreements on outstanding debt and the 100% development funding of an initial $10.5mm in capital expenditures in 2014 with a further $12mm in 2015, targeting Kokopelli, subject to certain provisions. Additionally, SECO will assume 85% of the ongoing overhead of Dejour�� U.S. operations and joint project management during the initial period. SECO will also share responsibility to maintain the other Dejour U.S. leases in good standing on a pro rata ownership basis or return them to Dejour in a timely fashion. Dejour will remain the operator of record.

��ECO shares Dejour�� value proposition relating to the company�� U.S. E&P portfolio. This partnership will bring many strategic advantages to Dejour: minimizing capital requirement in the short term, bolstering the company�� balance sheet and long term US cash flow, the provision of flexibility for Dejour to pursue new

Hot Up And Coming Companies For 2015: Thor Industries Inc.(THO)

Thor Industries, Inc., together with its subsidiaries, manufactures and sells a range of recreation vehicles and small and mid-size buses, as well as related parts and accessories in the United States and Canada. The company offers a range of travel trailers and motorhomes under the trade name of Airstream, which include Airstream Safari, International, Flying Cloud, and Bambi travel trailers, as well as Interstate Class B motorhomes. It also manufactures and sells conventional travel trailers and fifth wheels under the trade names of Dutchmen, Four Winds, Aero, Grand Junction, Colorado, Cruiser, Seville, Zinger, and Sunset Trail; travel trailers and fifth wheels under trade names of Montana, Springdale, Hornet, Sprinter, Outback, Laredo, Everest, Mountaineer, Challenger, Cougar, Komfort, and Trailblazer; and gasoline and diesel Class C, Class A, and Class B motorhomes under the trade names of Four Winds, Hurricane, Windsport, Mandalay, Dutchmen, Chateau, Serrano, Ventura, and Fun Mover. In addition, it manufactures and sells gasoline and diesel Class A motor homes under the trade names of Daybreak, Challenger, Astoria, Tuscany, Outlaw, and Avanti; travel trailers, fifth wheels, truck campers, and park models under the trade name of General Coach; and park models under the trade names of Tranquility, Westchester, and Breckenridge. Further, the company manufactures small and mid-size transit and commercial buses under the trade names of Aerolite, AeroElite, Aerotech, Escort, MST, Transmark, EZ Rider, Axess, Challenger, Defender, Crusader, American Cruiser, Classic Coach, EZ Trans, GC II, and Pacer. It markets its vehicles through independent dealers to municipalities and private purchasers, such as rental car companies and hotels. The company has a joint venture agreement with Cruise America, Inc. to provide short-term rentals of motorized recreation vehicles to the public. Thor Industries was founded in 1980 and is based in Jackson Center, Oh io.

Advisors' Opinion:

[By Seth Jayson]
Thor Industries (NYSE: THO ) reported earnings on June 6. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 30 (Q3), Thor Industries met expectations on revenues and beat expectations on earnings per share.
[By Lauren Pollock]
Thor Industries Inc.'s(THO) fiscal first-quarter earnings rose 33% on the strength of higher sales and wider margins. But results came in lower than expected.

Hot Up And Coming Companies For 2015: Delek US Holdings Inc. (DK)

Delek US Holdings, Inc. operates as an integrated downstream energy company that operates in petroleum refining, logistics, and convenience store retailing businesses. The company operates in three segments: Refining, Logistics, and Retail. The Refining segment owns and operates two refineries in Tyler, Texas, and El Dorado, Arkansas; and produces various petroleum-based products used in transportation and industrial markets. The Logistics segment gathers, transports, and stores crude oil, as well as markets, distributes, transports, and stores refined products. It also offers crude oil transportation services for terminalling and marketing services; and markets light products using third-party terminals. This segment owns approximately 400 miles of crude oil transportation pipelines, 123 miles of refined product pipelines, 600-mile crude oil gathering system, and associated crude oil storage tanks with an aggregate of approximately 2.6 million barrels of active shell capa city. The Logistics segment serves oil companies, independent refiners and marketers, jobbers, distributors, utility and transportation companies, and independent retail fuel operators. The Retail segment markets gasoline, diesel, and other refined petroleum products, as well as convenience merchandise. As of May 8, 2013, this segment operated 373 retail fuel and convenience stores under the MAPCO Express, MAPCO Mart, Discount Food Mart, Fast Food and Fuel, East Coast, Delta Express, and Favorite Markets brands. The company was founded in 2001 and is headquartered in Brentwood, Tennessee. Delek US Holdings, Inc. is a subsidiary of Delek Petroleum Ltd.

Advisors' Opinion:

[By Ben Levisohn]
That said we are recommending a slight tactical shift toward more defensive posturing with a focus on lower beta names and companies that screen at a discount from a valuation perspective. As a result, we are
downgrading [Delek US Holdings (DK)] and [Tesoro (TSO)] to Sector Perform and upgrading [Phillips 66] and [PBF Energy] to Sector Outperform.
[By Dennis Slothower]
Several of the stocks in our portfolio have become even more attractive while the stock market discounts their future growth:
Delek Holdings (DK), a petroleum refiner, has a P/E ratio of 4, pays a 2% dividend, and has a 30%+ return on equity.

HollyFrontier (HFC), also a petroleum refiner, has a P/E ratio of 5.5, pays a 3% dividend, and is growing revenue by more than 40%.

CF Holdings (CF), one of the largest fertilizer companies in the world, has a P/E ratio of 8 and a rock-solid balance sheet.

We are in a point in the economic cycle where it is crucial to own stocks currently trading below the underlying worth of the business.
[By Ben Levisohn]
As a result, Garcia and Molchanov changed their rating on a number of refining stocks. Valero Energy gets cut to Outperfrom from Strong Buy, while Holly Frontier, Delek US (DK) and PBF Energy (PBF) get downgraded to Market Perform from Outperform. Only “defensive, insulated” Phillips 66 gets an upgraded, to Outperform from Market Perform.

Hot Up And Coming Companies For 2015: Access Midstream Partners LP (ACMP)

Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, L.L.C. (Partnership), incorporated on January 21, 2010, owns, operates, develops and acquires natural gas, natural gas liquids (NGLs) and oil gathering systems and other midstream energy assets. The Company is focused on natural gas and NGL gathering. The Company provides its midstream services to Chesapeake Energy Corporation (Chesapeake), Total E&P USA, Inc. (Total), Mitsui & Co. (Mitsui), Anadarko Petroleum Corporation (Anadarko), Statoil ASA (Statoil) and other producers under long-term, fixed-fee contracts. On December 20, 2012, the Company acquired from Chesapeake Midstream Development, L.P. (CMD), a wholly owned subsidiary of Chesapeake, and certain of CMD's affiliates, 100% of interests in Chesapeake Midstream Operating, L.L.C. (CMO). As a result of the CMO Acquisition, the Partnership owns certain midstream assets in the Eagle Ford, Utica and Niobrara regions. The CMO Acquisition also extended the Company's assets and operations in the Haynesville, Marcellus and Mid-Continent regions.

The Company operates assets in Barnett Shale region in north-central Texas; Eagle Ford Shale region in South Texas; Haynesville Shale region in northwest Louisiana; Marcellus Shale region in Pennsylvania and West Virginia; Niobrara Shale region in eastern Wyoming; Utica Shale region in eastern Ohio, and Mid-Continent region, which includes the Anadarko, Arkoma, Delaware and Permian Basins. The Company's gathering systems collect natural gas and NGLs from unconventional plays. The Company generates its revenues through long-term, fixed-fee gas gathering, treating and compression contracts and through processing contracts.

Barnett Shale Region

The Company's gathering systems in its Barnett Shale region are located in Tarrant, Johnson and Dallas counties in Texas in the Core and Tier 1 areas of the Barnett Shale and consist of 25 interconnected gathering systems and 850 miles of pipeline. During the year! ended December 31, 2012, average throughput on the Company's Barnett Shale gathering system was 1.195 billion cubic feet per day. The Company connects its gathering systems to receipt points that are either at the individual wellhead or at central receipts points into which production from multiple wells are gathered. The Company's Barnett Shale gathering system is connected to the three downstream transportation pipelines: Atmos Pipeline Texas, Energy Transfer Pipeline Texas and Enterprise Texas Pipeline. Natural gas delivered into Atmos Pipeline Texas pipeline system serves the greater Dallas/Fort Worth metropolitan area and south, east and west Texas markets at the Katy, Carthage and Waha hubs. Natural gas delivered into Energy Transfer Pipeline Texas pipeline system serves the greater Dallas/Fort Worth metropolitan area and southeastern and northeastern the United States markets supplied by the Midcontinent Express Pipeline, Centerpoint CP Expansion Pipeline and Gulf South 42-inch Expansion Pipeline. Natural gas delivered into Enterprise Texas Pipeline pipeline system serves the greater Dallas/Fort Worth metropolitan area and southeastern and northeastern the United States markets supplied by the Gulf Crossing Pipeline.

Eagle Ford Shale Region

The Company's gathering systems in its Eagle Ford Shale region are located in Dimmit, La Salle, Frio, Zavala, McMullen and Webb counties in Texas and consist of 10 gathering systems and 618 miles of pipeline. During 2012, gross throughput for these assets was 0.169 billion cubic feet per day. The Company connects its gathering systems to central receipt points into which production from multiple wells is gathered. The Company's Eagle Ford gathering systems are connected to six downstream transportation pipelines, which include Enterprise, Camino Real, West Texas Gas, Regency Gas Service, Eagle Ford Gathering and Enerfin. The Company processes gas at Yoakum or other Enterprise plants and transports residue to Wharton residue header w! ith conne! ctions to numerous interstate pipelines.

Haynesville Shale Region

The Company's Springridge gas gathering system in the Haynesville Shale region is located in Caddo and DeSoto Parishes, Louisiana, in one of the core areas of the Haynesville Shale and consists of 263 miles of pipeline. During 2012, average throughput on the Company's Springridge gathering system was 0.359 billion cubic feet per day. The Company connects its gathering system to receipt points that are at central receipt points into which production from multiple wells is gathered. The Company's Springridge gathering system is connected to three downstream transportation pipelines: Centerpoint Energy Gas Transmission, ETC Tiger Pipeline and Texas Gas Transmission Pipeline. The Company's Mansfield gas gathering system in the Haynesville Shale region is located in DeSoto and Sabine Parishes, Louisiana, in one of the areas of the Haynesville Shale and, as of December 31, 2012, consist of 304 miles of pipeline. During 2012, average throughput on the Company's Mansfield gathering system was 0.720 billion cubic feet per day. The Company connects its gathering system to receipt points that are at central receipt points into which production from multiple wells is gathered and treated. The Company's Mansfield gathering system is connected to two downstream transportation pipelines: Enterprise Accadian Pipeline and Gulf South Pipeline. Natural gas delivered into Enterprise Accadian pipeline can move to on-system markets in the Midwest and to off-system markets in the Northeast through interconnections with third-party pipelines. Natural gas delivered into Gulf South pipeline can move to on-system markets in the Midwest and to off-system markets in the Northeast through interconnections with third-party pipelines.

Marcellus Shale Region

Through Appalachia Midstream, the Company operates 100% of and own an approximate average 47% interests in 10 gas gathering systems that consist of approximately 5! 49 miles ! of gathering pipeline in the Marcellus Shale region. The Company's volumes in the region are gathered from northern Pennsylvania, southwestern Pennsylvania and the northwestern panhandle of West Virginia, in core areas of the Marcellus Shale. The Company operates these smaller systems in northeast and central West Virginia, southeast Pennsylvania, northwest Maryland, north central Virginia, and south central New York. During 2012, gross throughput for Appalachia Midstream assets was just over 1.8 billion cubic feet per day. The Company's Marcellus gathering systems' delivery points include Caiman Energy, Central New York Oil & Gas, Columbia Gas Transmission, MarkWest, NiSource Midstream, PVR and Tennessee Gas Pipeline. Natural gas is delivered into a 16-inch pipeline and delivered to the Caiman Energy Fort Beeler processing plant where the liquids are extracted from the gas stream. The natural gas is then delivered into the TETCo interstate pipeline for ultimate delivery to the Northeast region of the United States. Natural gas delivered into Central New York Oil & Gas 30-inch diameter pipeline can be delivered to Stagecoach Storage, Millennium Pipeline, or Tennessee Gas Pipeline's Line 300. In Columbia Gas Transmission lean natural gas is delivered into two 36-inch interstate pipelines for delivery to the Mid-Atlantic and Northeast regions of the United States. Natural gas is delivered into a MarkWest pipeline for delivery to the MarkWest Houston processing plant where the liquids are extracted from the gas stream. In NiSource Midstream natural gas is delivered into a 20-inch diameter pipeline and delivered to the MarkWest Majorsville processing plant where the liquids are extracted from the rich gas stream. In PVR natural gas is delivered into the 24-inch diameter Wyoming pipeline and the Hirkey Compressor Station. In Tennessee Gas Pipeline natural gas is delivered into this looped 30-inch diameter pipeline (TGP Line 300) at three different locations can be received in the Northeast at points along th! e 300 Lin! e path, interconnections with other pipelines in northern New Jersey, as well as an existing delivery point in White Plains, New York.

Niobrara Shale Region

The Company's gathering systems in the Niobrara Shale region are located in Converse County, Wyoming and consist of two interconnected gathering systems and 79 miles of pipeline. During 2012, average throughput in the Company's Niobrara Shale region was 0.013 billion cubic feet per day. The Company connects its gathering systems to receipt points,which are either at the individual wellhead or at central receipts points into which production from multiple wells are gathered. The Company's Niobrara gathering systems are connected to two downstream transportation pipelines: Tallgrass/Douglas Pipeline and North Finn/DCP Inlet Pipeline. Natural gas delivered into Tallgrass/Douglas pipeline is sent to the Tallgrass processing facility; after processing, natural gas is delivered to Cheyenne Hub, Rockies Express Pipeline, or Trailblazer Pipeline through Tallgrass Interstate Gas Transmission.

Utica Shale Region

The Company's gathering systems in the Utica Shale region are located in northeast Ohio and consist of 67 miles of pipeline. The Company's Utica gathering systems are connected to two downstream transportation pipelines: Dominion East Ohio (Blue Racer) and Dominion Transmission, Inc.

Mid-Continent Region

The Company's Mid-Continent gathering systems extend across portions of Oklahoma, Texas, Arkansas and Kansas. Included in the Company's Mid-Continent region are three treating facilities located in Beckham and Grady Counties, Oklahoma, and Reeves County, Texas, which are designed to remove contaminants from the natural gas stream.

Anadarko Basin and Northwest Oklahoma

The Company's assets within the Anadarko Basin and Northwest Oklahoma are located in northwestern Oklahoma and the northeastern portion of the Texas Panhandle and consist of appro! ximately ! 1,578 miles of pipeline. During 2012, the Company's Anadarko Basin and Northwest Oklahoma region gathering systems had an average throughput of 0.457 billion cubic feet per day. Within the Anadarko Basin and Northwest Oklahoma, the Company is focused on servicing Chesapeake's production from the Colony Granite Wash, Texas Panhandle Granite Wash and Mississippi Lime plays. Natural gas production from these areas of the Anadarko Basin and Northwest Oklahoma contains NGLs. In addition, the Company operates an amine treater with sulfur removal capabilities at its Mayfield facility in Beckham County, Oklahoma. The Company's Mayfield gathering and treating system gathers Deep Springer natural gas production and treats the natural gas to remove carbon dioxide and hydrogen sulfide to meet the specifications of downstream transportation pipelines.

The Company's Anadarko Basin and Northwest Oklahoma systems are connected to a transportation pipelines transporting natural gas out of the region, including pipelines owned by Enbridge and Atlas Pipelines, as well as local market pipelines such as those owned by Enogex. These pipelines provide access to Midwest and northeastern the United States markets, as well as intrastate markets.

Permian Basin

The Company's Permian Basin assets are located in west Texas and consist of approximately 358 miles of pipeline across the Permian and Delaware basins. During 2012, average throughput on the Company's gathering systems was 0.076 billion cubic feet per day. The Company's Permian Basin gathering systems are connected to pipelines in the area owned by Southern Union, Enterprise, West Texas Gas, CDP Midstream and Regency. Natural gas delivered into these transportation pipelines is re-delivered into the Waha hub and El Paso Gas Transmission. The Waha hub serves the Texas intrastate electric power plants and heating market, as well as the Houston Ship Channel chemical and refining markets. El Paso Gas Transmission serves western the United ! States ma! rkets.

Other Mid-Continent Regions

The Company's other Mid-Continent region assets consist of systems in the Ardmore Basin in Oklahoma, the Arkoma Basin in eastern Oklahoma and western Arkansas and the East Texas and Gulf Coast regions of Texas. The other Mid-Continent assets include approximately 648 miles of pipeline. These gathering systems are localized systems gathering specific production for re-delivery into established pipeline markets. During 2012, average throughput on these gathering systems was 0.031 billion cubic feet per day.

The Company competes with Energy Transfer Partners, Crosstex Energy, Crestwood Midstream Partners, Freedom Pipeline, Peregrine Pipeline, XTO Energy, EOG Resources, DFW Mid-Stream, Enbridge Energy Partners, DCP Midstream, Enterprise Products Partners Inc., Regency Energy Partners, Texstar Midstream Operating, West Texas Gas Inc., TGGT Holdings, Kinderhawk Field Services, CenterPoint Field Services, Williams Partners, Penn Virginia Resource Partners, Caiman Energy, MarkWest Energy Partners, Kinder Morgan, Dominion Transmission (Blue Racer), Enogex and Atlas Pipeline Partners.

Advisors' Opinion:

[By Marc Bastow]
Natural gas and gas liquids owner and operator Access Midstream Partners (ACMP) raised its quarterly distribution 23.5% to 55.5 cents per unit for its Common and Class C units, payable on Feb. 14 to unit holders of record as of Feb. 7.
ACMP Dividend Yield: 3.96%
[By Aaron Levitt]
While you can debate whether beaten-down natural gas producer Chesapeake (CHK) is a buy or just junk, its former MLP subsidiary Access Midstream Partners (ACMP) is very much in the ��uy, buy, buy!��camp.
[By Robert Rapier]
Access Midstream Partners (NYSE: ACMP) is the successor to Chesapeake Midstream, after it bought Chesapeake Energy’s (NYSE: CHK) midstream assets. At the same time Williams (NYSE: WMB) acquired a 50 percent stake in Access Midstream’s general partner from the master limited partnership’s private equity sponsor. ACMP is now one of the largest midstream companies in the US with gathering pipelines and facilities in the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica shales, and elsewhere in the Mid-Continent.
[By Robert Rapier]
Next week�� issue will tackle the three remaining questions: one on MLP equivalents in Canada and Australia, one on Enbridge Energy Partners (NYSE: EEP) �and TC Pipelines (NYSE: TCP), and a third query on Access Midstream Partners (NYSE: ACMP), Crestwood Midstream Partners (NYSE: CMLP) and Mid-Con Energy Partners (Nasdaq: MCEP).

Hot Up And Coming Companies For 2015: Alliance Resource Partners L.P.(ARLP)

Alliance Resource Partners, L.P. engages in the production and marketing of coal for utilities and industrial users in the United States. It operates nine underground mining complexes, which offer low, medium, and high-sulfur coal. The company also leases land and operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana; and purchases and resells coal. In addition, the company provides mine products and services comprising design and installation of underground mine hoists for transporting employees and materials in and out of mines; design of systems for automating and controlling various aspects of industrial and mining environments; and design and sale of mine safety equipment, such as its miner and equipment tracking, and proximity detection systems. Further, it offers ash and scrubber sludge removal, coal yard maintenance, and arranging alternate transportation services. As of December 31, 2010, the company had approximately 697.4 million tons of coal reserves in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia. Alliance Resource Management GP, LLC serves as the general partner of Alliance Resource Partners, L.P. The company was founded in 1971 and is based in Tulsa, Oklahoma.

Advisors' Opinion:

[By Eric Volkman]
Alliance Resource Partners (NASDAQ: ARLP ) has bumped its quarterly dividend slightly higher. For its Q1, the company will distribute $1.13 per unit on May 15 to shareholders of record as of May 8.�That amount is 2% more than Alliance Resource's preceding distribution, which was handed out in early February, and totaled $1.1075. Prior to that, the partnership paid $1.085 per unit.
[By Dividends4Life]
The basic materials sector is highly cyclical. It relies on a strong economy to create demand for its raw materials. Since most of its products are considered to be commodities, the sector is sensitive to supply and demand fluctuations, with end-users able to substitute based on price.

Historically, yields in this sector have been on the lower end of the scale. However, with the increased demand for certain raw materials, the stocks in this sector are beginning to see higher yields with increased profitability. In addition, depressed prices on some companies have also boosted yields.

This week, I screened my dividend growth stocks database for Basic Materials companies with a yield above 2.0% and that have increased their dividends for at least 10 consecutive years. The results are presented below:

RPM International Inc. (RPM) makes specialty coatings and products for structural waterproofing and corrosion control, as well as products for the consumer, do-it-yourself and hobby markets. The company has paid a cash dividend to shareholders every year since 1969 and has increased its dividend payments for 40 consecutive years. Yield: 2.3%

Air Products and Chemicals Inc. (APD) is a major producer of industrial gases and electronics and specialty chemicals also has interests in environmental and energy-related businesses. Air Products and Chemicals Inc. is a major producer of industrial gases and electronics and specialty chemicals also has interests in environmental and energy-related businesses. Yield: 2.5%

Nucor Corporation (NUE) is the largest minimill steelmaker in the U.S., Nucor has one of the most diverse product lines of any steelmaker in the Americas. Nucor Corporation is the largest minimill steelmaker in the U.S., Nucor has one of the most diverse product lines of any steelmaker in the Americas. Yield: 2.7%

Alliance Resource Partners LP (ARLP) produces and markets coal primarily to utilities and industr

PIMCOâ€™s Gross Cruises Into â€˜New Neutralâ€™

Following up on his May investment outlook, in which he argued that “If the neutral policy rate was 2% instead of 4% then bonds, instead of being artificially priced, would be attractively priced,” in his June commentary, PIMCO’s Bill Gross goes deeper into the neutral policy rate debate, arguing that the real neutral rate should be at zero or close to it. He also conveniently provides a shortened takeaway of his latest thoughts:

That’s helpful, but the popular takeaway from his latest monthly commentary will probably be (if social media is any guide): Bill Gross doesn’t own a cellphone.

Gross begins his June investment outlook by lamenting that the younger generation is trying to freeze time, using handheld devices like, umm, a cell phone to “record and memorialize” events for other’s viewing pleasure or for future consumption. “My view is that there is time stored in that cellphone, but its vintage may be somewhat sour, as compared to the sweetness of the here and now,” he writes. He then cites a Pew study on the heavy use of texting by American teenagers who “may get so caught up in their frantic ‘busyness’ that they fail to capture their present.”

So he pleads instead for “living in the moment.” As for cellphones, “They may be virtual, but they’re not reality.”

Then he gets into the meat of his commentary, saying “PIMCO’s reality in recent months has been captured by the phrase “The New Neutral,” defined as a real Federal Reserve Fed Funds rate of 0%, or perhaps even a little below 0%. Moreover, that zero rate, citing work done by Thomas Laubach and John Williams of the Fed, has declined “from over 4% in early 1970 to below 2% (and heading lower) today. Their most recent calculation of the current 'cyclical' rate is actually -0.25%.” Gross argues that when it comes to this New Neutral rate, “things are just gonna be this way for at least the next 3–5 years, and likely much more.”

So what does a “neutral” rate mean? Gross says Janet Yellen’s Federal Reserve answers it as “the rate consistent with full employment trend growth and stable prices.” He then quotes Yellen when she was San Francisco Fed President in 2005: “Research suggests that the neutral real rate depends on a variety of factors – the stance of fiscal policy, the trend of the global economy … the level of housing prices, the equity markets, the slope of the yield curve ... and it changes over time.”

Gross says PIMCO “cannot quarrel with such logic” before suggesting that the New Neutral real rate is also determined by two other factors: slower labor force growth and productivity and financial system leverage. He then cites Paul McCulley’s past research on “The New Neutral” (McCulley just rejoined PIMCO as chief economist, reporting to Gross) in which he argued, said Gross, that “the price of ‘real’ short-term credit” should be “close to 0% real because there was so much of it that was finance as opposed to real economy related.”

Then Gross makes his argument as to why “the more finance-based and highly levered an economy is, the lower and lower real yield levels should be to prevent a Lehman-like earthquake.”

We should “get used to” real rates of 0–50 basis points, which would benefit bondholders rather than savers, concluding that “becoming a conservative debtor while structuring a portfolio appears to make common sense.” He suggests that such low real policy rates, which “will be frigidly low for an extended period of time,” will require a new approach to portfolio management.

PIMCO itself continues to struggle with outflows from its mutual funds. Morningtar reported in mid-May that in April, the bond shop had total net outflows of $5.5 billion, bringing its year-to-date outflows to some $21 billion, and its 12-month outflows to nearly $80 billion.

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Bill Gross found a home on the IA 25 list this year. View his extended profile here.

Check out PIMCO’s Gross: Pop Your Bubble Fears! on ThinkAdvisor.

Thursday, June 5, 2014

GOP Senators Optimistic After Obama Meeting on Debt Ceiling

Political wrangling continued Friday as GOP lawmakers and the Obama administration failed to agree on a deal floated Thursday by House Republicans that would raise the debt ceiling until Nov. 22, without reopening the government, in exchange for negotiations with President Barack Obama on spending cuts and tax reform.

News from published reports and on Twitter said that while no deal was struck, House Republicans characterized their hour-and-a-half meeting with Obama on Thursday as “a useful and productive conversation.”

“I’m glad we had the discussion,” said Sen. Kelly Ayotte, R-N.H., according to The New York Times. “Now we have to put the words into action and get this resolved.”

Reports also said, however, that Obama won’t go along with any GOP deal that ties spending cuts with raising the debt ceiling and opening the government.

At press time on Friday afternoon, Obama had just finished a meeting with Senate Republicans at the White House, and a press briefing to be held by White House Press Secretary Jay Carney kept getting pushed back.

At 1:13 p.m., Sen. Charles Grassley, R-Iowa, tweeted: "Meeting at White House over. Very good discussion on shutdown Nothing obvious decided But hope I'm surprised there may be progress."

In another tweet, Jamie Dupree of Cox Radio quoted Sen. Rob Portman, R-Ohio, as saying, "Honestly, the bigger breakthrough was last night with the House Republicans."

Bloomberg reported that Senate Republicans said Obama was open to changing a tax on medical devices in the future. The president did not "rule out repealing the tax, which was included in the Patient Protection and Affordable Care Act," Bloomberg reported Sen. Orrin Hatch of Utah, an advocate of the tax’s repeal, as stating.

MarketWatch tweeted that House Republicans have called a meeting for 9 a.m. Saturday.

Senate Majority Leader Harry Reid, D-Nev., was quoted as saying Friday that he was open to hearing Republican proposals, though he was not in favor of extending U.S. borrowing authority only to Nov. 22. Rather, Reid said he would continue advocating a delay of the next debt-limit fight into 2015.

Political strategist Greg Valliere of Potomac Research said in his Friday morning commentary that while the chances of a default on the nation’s debt were now “close to zero,” any eventual “’deal’ will simply kick the can down the road, with another deadline later this fall, or in the winter, or whenever.”

While “market psychology has soared because default is off the table, … business and consumer psychology has taken a more lasting hit,” Valliere said. “Fresh crises loom — so the fragile recovery may stay fragile, because Washington is still dysfunctional.”

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Check out Shutdown Plays Havoc With Federally Funded Nonprofits on ThinkAdvisor.

Gold: The investment dog that’s not hunting

Let's say you're worried about burglars, and so you get a dog. The seller assures you he's ferocious and will protect you should any burglars come by. You name the dog Fang, give him a spiked collar and feed him Purina Burglar Bits™.

A few nights later, you hear noises downstairs, and you see several burglars hauling off your possessions. Fang is pointing the robbers in the direction of your silverware.

Naturally, you're a bit disappointed in Fang and his inability to live up to his name.

Gold investors may be having their Fang moment now.

After all, gold is supposed to be the great defense against currency collapse because gold is the ultimate currency. So when the U.S. is on the brink of defaulting on its debt, sending interest rates soaring and the dollar plunging, gold would logically be the portfolio defender of choice. But it hasn't been -- and not for a lack of being affordable. The price of the precious metal is more than 40% off its 2011 peak. What gives?

Quite a lot, actually. First, here's the general rationale for investing in gold. The yellow commodity has been used as money since the Scythians discovered that it's rare, universally valued and easily portable. That was about 3,000 years ago. In more modern times, gold has gained in value when paper money seemed questionable. During the Civil War, for example, gold rose on Confederate victories and fell on Union gains.

You would think, then, that the threat of a government default would send gold soaring. In default, after all, those who normally buy government debt would flee, driving down the value of U.S. currency on foreign markets. But gold is doing little to aid your portfolio.

The Dow Jones industrial average's most recent peak was on Sept. 18, when the market began to sense that a government shutdown — and possibly a default — was actually possible. On that day, the Dow stood at 15,677. By Wednesday, the Dow had fallen to 14,803, a 5.6% decline.

Gold stood at $1,301 on Sept. 18, an! d closed Wednesday at $1,304 — a 0.2% gain. (On Thursday, the Dow rallied 323 points to 15,126 on news of a possible resolution of the debt-limit stalemate, while gold swooned $10.30 an ounce).

"Honestly, it doesn't make sense," says Dan Denbow, manager of USAA Precious Metals fund. "The current situation is a bit perplexing."

And how. Francisco Blanch, head of commodities and derivatives research at Bank of America, explains that gold investors have been bitten by three short-term factors and three long-term ones. In the short term, he says, are these price drivers:

• A stinky bear market. Gold peaked at $1,895 an ounce in August 2011, according to Kitco.com. Measuring from Wednesday's close of $1,304, that's a 31% loss. "Investors have lost a lot of patience with it," Blanch says. Investors count for about half the demand for gold, with the remainder taken up by jewelry and industry. "If you're missing the investor, you have a large hole to fill."

•Poor fundamentals. Gold tends to do well when the dollar declines in value, but the dollar has held up well. That's partly because financial and economic problems elsewhere in the world have made the dollar the lesser of many evils. And interest rates, adjusted for inflation, are higher, making gold, which has no earnings and pays no interest, less attractive. The yield on the bellwether 10-year Treasury note was 1.4% in July 2012, and inflation was also 1.4% — essentially, a zero real interest rate. Currently, the 10-year T-note yields 2.68%, and inflation is 1.5% — a positive real interest rate.

•Weak commodity prices. Gold and the price of other commodities track each other fairly closely. In a relatively weak global economy, where Europe continues to struggle and China's rapid-fire growth has cooled, demand has been slack.

Those are the short-term problems with gold. In the longer term, gold has headwinds, too.

•A strong economy. Yes, gross domestic product has only been growing at a 1.6% annual ! pace the ! most recent 12 months. But think of what it has had thrown at it, Blanch says. The fiscal cliff! Sequestration! Government shutdown! "Investors are saying, 'Hold on a second. The U.S. is strong enough to experience shock after fiscal shock and still deliver a couple points of GDP growth — what do I need gold for?'"

•Monetary tightening. A key argument for gold has been that loose monetary policy — abnormally low interest rates and the Fed's bond-buying program — would ignite inflation. And, in fact, the Fed has been easing monetary policy for more than 30 years, ever since the key Fed funds rate peaked at 20% in 1981. With Fed funds at zero, however, there's nowhere to go but up as GDP keeps growing and the unemployment rate keeps falling.

•Lower trade deficit. "The public overspent 40% of its income the past 10 years on oil and Chinese gadgets," Blanch says. Now, however, things are changing. The U.S. has greatly reduced its dependence on foreign energy. "We're paying $3.50 per million BTUs for natural gas, when Europe is paying $10 to $12, and Japan is paying $15 to $18," Blanch says. "It's cheaper to manufacture things in the U.S., Mexico and China."

What does gold have going for it? It's cheap, nearly a third off its recent highs. Gold did hit a high of $850 an ounce in 1980. Adjusted for inflation, that would put gold at about $2,400. But that was the blow-off peak price. Gold averaged $612 an ounce in 1980, putting its inflation-adjusted average in a bull market year at about $1,700.

If you assume -- as many gold bugs do -- that gold reflects inflation expectations already, and that there's no reason to adjust the price for inflation, the current level isn't a bargain at all. The average price of gold since Sept. 30, 1975, has been about $500.

A swooning gold price isn't the worst thing in the world. Gold rises when things are bad. "What's good for Uncle Sam and the general public is bad for gold," says Blanch.

It doesn't hurt to own a bit of gold. "Yo! u have to! remember why you own it," Denbow says. "You own it for moments when things are not going well, such as an inflationary breakout." Right now, the dogs of gold just aren't barking.

Wednesday, June 4, 2014

Question and Answer Session with Buffett Biographer Alice Schroeder

I was fortunate to have spent 10 years getting to know Warren Buffett (Trades, Portfolio) by spending days and weeks with him. I could ask him anything and you can ask me anything as well. Some of you may want to know why he chose me. In his words, he likes the way I think, he likes the way I write. Spending thousands of hours with Warren was like getting a Ph.D., or maybe more than one. Before writing The Snowball, I was an analyst at several firms on Wall Street, a regulator, a CPA, and now I invest, and serve on corporate boards. From auditor to board member I've seen the sausage factory. My motto is: do whatever will teach you the most.

Continue reading here.

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