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DescriptionEducational games try to teach the player through playing. Usually intended for younger children, educational games offer a fun, indirect way to practice "non-fun" subjects like spelling, math, history, etc. Educational games are often called "Edutainment".
|Game Title
Commodore 64 (1994)
Polowanie na Litery is a simple game, where the player must press the letters on their keyboard corresponding to the...
This game aims to help younger Japanese speaking children learn some English vocabulary words. The game features Popeye the Sailorman,...
Windows (2008)
As an agent of IPM (Institute of Temporal Travel) the player will make time jumps from 2079 into various historical...
Windows (2003)
The Powerpuff Girls Learning Challenge #2 : Princess Snorebucks is an edutainment title featuring the super-powered children from Townsville USA.In...
Nintendo DS (2008)
Power Quiz: Allgemeinwissen is a quiz game about general knowledge. Step by step the player improves their knowledge in several...
Nintendo DS (2009)
PowerQuiz: Die Sport-Edition - D:SF is a quiz game for all who love sport and want to test their knowledge....
Nintendo DS (2009)
PowerQuiz: GEOlino is a quiz game for children about general knowledge. As the player progresses through the game, he or...
Commodore 64 (1984), Apple II (1984) and Atari 8-bit (1984)
Up to four players or teams can compete in this 2,500-question trivia game. The box includes four hand-held quick response...
Windows (1997), Windows 3.x (1997) and Macintosh (1997)
Pre-Algebra World: Number Sense is an edutainment title intended to teach pre-algebra mathematics - a broad set of of mathematical...
Windows (1999), Windows 3.x (1999) and Macintosh (1999)
Prehistoric Animals is an educational game that explains a lot about prehistoric life during the Precambrian, Paleozoic, Mesozoic and Cenozoic...
Amiga (1993)
Preludium is an educational game with arcade elements. The game takes place in the land called Chochland. Krzysztof's goal is...
Windows (2001)
President for a Day is an educational game (ages 12 and up) exploring themes of poverty and international debt, through...
Windows (2004)
President Forever is a strategy game that puts you right in the presidential campaign. You will have to manage ads,...
Presidents is a quiz game where you answer questions about Presidents of the U.S.A. and you can select the number...
Windows (2003)
Prezzemolo in una Giornata da Incubo is a licensed adventure game based on the mascots of a popular Italian theme...
Windows 3.x (1994) and Macintosh (1994)
Prince became a major international music star in 1984 with the release of "Purple Rain" and his blend of rock,...
Windows (1999)
Print Story: Toonsylvania is an art studio program based on the animated TV series Toonsylvania. It allows children (from 5...
Windows (2005)
Ready for more Sudoku puzzles? Well, the Deluxe version of Professor Fuji's Sudoku features 100,000 more for you to play...
Nintendo DS (2007)
After hearing about a strange inheritance dispute in the town of St. Mystere, Professor Layton and his young apprentice, Luke,...
Nintendo DS (2007)
When Professor Layton and his assistant, Luke, receive a letter from the Professor's mentor, Dr. Andrew Schrader, Layton feels uneasy....
Critic Score
Top games by as rated by the press:
- 92 Ollo in the Sunny Valley Fair
- 91 Rocksmith: All-new 2014 Edition
- 91 Pajama Sam: No Need to Hide When It's Dark Outside
- 91 Fritz 8
- 91 Chessmaster 9000
- 90 Learn to Play Chess with Fritz & Chesster
- 90 I Spy Fantasy
- 88 SimEarth: The Living Planet
- 87 Virtual Pool
- 87 Rocksmith: All-new 2014 Edition
Games must have at least a Critic Score of 80 to be considered.
Top games as rated by our users:
- 4.77 The Simpsons Cartoon Studio (1996)
- 4.61 Museum Madness (1994)
- 4.58 Quarky & Quaysoo's Turbo Science (1992)
- 4.37 Spy Fox in "Dry Cereal" (1997)
- 4.36 Freddi Fish 3: The Case of the Stolen Conch Shell (1998)
- 4.29 The Pink Panther: Hokus Pokus Pink (1998)
- 4.24 Spy Fox 2: "Some Assembly Required" (1999)
- 4.19 Freddi Fish 2: The Case of the Haunted Schoolhouse (1996)
- 4.18 Super Munchers: The Challenge Continues... (1991)
- 4.17 Star Wars: Yoda's Challenge - Activity Center (1999)
Games must have at least 5 votes and a User Score of 4.0 to be considered.
Basic Genres
Educational is part of Basic Genres. This group of genres contain:


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Blog Categories: Politics | News | Music | Do This! | Chow | Media | Cinema | Arts and Culture | Education | Fun in General | TV | Sports | more categories»
Yes, evidently American's coastal waters are being invaded by giant cannibal shrimp, or just really large Asian tiger shrimp that like to eat smaller shrimp. And yes, there are some issues that only scientist really understand, just know this — you can eat them.
Showing 1-3 of 3
Join Mega Man, Lady Liberty and The Streak as they try to protect Gigantopolis from the evil… More

subset: commoncrawl


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Local Sport
Louie strikes to give City double cause for celebration
Old master Allinson gets better of Garrard and Boreham Wood
King Louie the hottest winger in town as St Albans City down Boreham Wood
Louie Theophanous grabbed the only goal as St Albans City grabbed an impressive 1-0 victory over Vanarama National League side Boreham Wood.
Frustraing weekend for Radlett racer Jones
Alex Jones suffered a frustrating weekend at the latest round of the Formula Vee Motor Racing Championship.
Broken bones can't stand in way of 'amazing' win for national champion Oli Stockwell
Oli Stockwell has called his British National Cycling Championship win "amazing"
Florida world championship calling for St Albans schoolgirl in unique triathlon
A schoolgirl from St Albans is heading to Florida for the World Championships – after securing qualification in her first tilt at a unique triathlon.
St Albans Centurions double up against Hemel Stags
St Albans Centurions did the double over near-neighbours Hemel Stags with a 28-16 win at Pennine Way.
London Colney held by Aylesbury
London Colney's pre-season continued with a 1-1 draw at home to Aylesbury.
Theo confident that St Albans City are progressing well
St Albans City's Louie Theophanous says pre-season is all about developing the squad – and thinks things are "coming along nicely".
Time to get organised says St Albans City's Lee Allinson
Lee Allinson has said it is time for St Albans City to kick-on with their pre-season preparations – starting with this Saturday's visit of Boreham Wood.
Greenwood Park give hope to chasing pack
A lacklustre batting display from Greenwood Park saw them fall to a two-wicket loss at home to Little Berkhampstead Sahibs.
Harpenden girls clinch hat-trick of county triumphs
Harpenden Cricket Club's U11 Girls' team have made it a hat-trick of County titles.
Merson pounces for first City goal as St Albans are held by Biggleswade
Sam Merson grabbed his first goal in a St Albans shirt – but the Saints are still looking for a pre-season success after a 1-1 draw with Biggleswade Town.


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The lights are on
Ten years after Oblivion's release, Did You Know Gaming presents some facts you might not know about the RPG.
David Hayter won't be returning to voice Snake in Metal Gear Solid V: The Phantom Pain, but that doesn't mean we can't enjoy and relive every single time that he has asked a question about his mission.
One dedicated pixel artist has converted every video game character you
could possibly care about into the style of Capcom's Mega Man.
Here's a quick recap of the
development history of Super Smash Bros.
Turns out the galaxy far far away is in Florida.
Artist Christopher Behr spent nearly a year creating a digital, three-dimensional version of Onett, and it's gorgeous.
A Miiverse user going by Craig has created an impressive Robin Williams tribute using Art Academy: Sketchpad.
A bundle of ten songs can be yours free for a limited time.
I know that both wrestling and Call of Duty have millions of fans, but
could these two (questionably) great tastes go great together? Popular
wrestler and actor Dwayne "The Rock" Johnson seems to think so.
If you watched the latest Star Wars trailer and thought, "Where are
all the Jar Jar Binks scenes?" then you have a weird appreciation for
the franchise, but your question has been answered.
Some games look easier than they would be in real life. Watch one man
find this out firsthand when a casual stroll through the park turns
into a lost level from the classic platformer Crash Bandicoot.
Troubled games retailer GAME will not be stocking EA's March releases, including Mass Effect 3.


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Grids are now closed for the March race weekend. No late entries will be accepted. The third round of the 2015 HKRC Club Championship. The March meeting has attracted over 220 competitors. Practice and Race day starts at 9.30am. The race format for Sunday is two heats and a final. From April until November the three heat and final format will return and on nominated months qualifying will be introduced. Any competitor who wishes to practice only must call 01480 212210 to confirm grid space availability. Only those who have confirmed pit bay spaces are to park in the main paddock. Free parking is available on the willows side of the track. Site opens at 9am on Friday 6th March. Car park/ paddock marshals will be in operation on Friday and Saturday morning.Space will be a premium. Provision has been made to use the grass area outside the main paddock for motohomes and mechanics vehicles. All main driveways must be kept clear at all times.
With only a few days away from the closing date for the March race weekend the third round of the 2015 HKRC Championship the majority of the grids are more than 75% full. Closing date is midnight -Monday 2nd March. No late entries will be excepted and all grids will be a maximum of 34. If any competitor is planning on practicing only please contact us first for ay grid space availability. For practice we have time for only one grid of each class. On line entry is the most effecient way of confirming your race entry.Please ensure you recieve an email confirmation pdf for race entry. On -line 2015 membership is now available also. A few selected pit bays are still remaining for weekend hire. Parking will again be a premuim across the site and the club are making arrangements to improve the grass area parking.We will have parking attendants assisting you when you enter site. Motorhomes and mechanics and non kart support vehicles will be asked to park outside the main paddoc. Only prebooked pit bays competitors will be permitted to park in the main paddock. Plenty of free parking available on the willows side of the track. Call the information line on 01480 212210.
Updates to the HKRC website includce championship club points,Tag Heur race weekend details,actions photographs from the February race weekend by Pixelero. On line payment system now include PG licence number where applicable. On-line membeship is now available- which can be found on the second tab dropdown when on-line payment page ius opened. addtional race weekend fees have been added for the 177 challenge and the LGM and X30 tour in April. Pease check you have chosen the correct payment for March and a pdf by return has been generated. if incorrect information the entry will be cancelled.so important to check before submission- thank you. Grids will be capped at 34 for all classes. Please check first for grid space availability if wishing to practice only at the March weekend. Most pitbays in main paddock have been rented for the 2015 season. some bays may be available for weekend rent . Free parking on willows side of track. Provision will be made for motorhomes outside the main paddock for both March and April race weekends. Car park attendants will be assisting to park everyone arriving on site who have not a reserved bay in the main paddock. Any inquiries call 01480 212210 for practice and pit bay availability. closing date will be 2nd March. No late entries will be accepted.
Hunts Kart Racing Club Ltd is a Private Limited Company registered in the UK with Company No. 1597143
Registered Office: 2 Water End Barns, Water End, Eversholt, Milton Keynes, MK17 9EA


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Send SMS Commands to SureMDM Nix Agent
SureMDM makes remote management of enterprise-owned mobile devices quick and easy. Now, 42Gears has made it easier with SMS commands option for SureMDM Nix Agent. You can send SMS commands to a device running SureMDM Nix Agent to perform the following operations: Start/Stop/Restart SureMDM Nix Agent Start/Stop/Restart WiFi Make device scream Reboot the device Launch an…Read More
5 Key questions SMBs must consider before acquiring mobile devices
Mobile revolution has boosted the growth of small- and medium-sized businesses. Integration of mobile devices has helped businesses become more efficient. It has given businesses an exceptional level of connectivity between employees, vendors, and customers. Instant sharing of information and accessibility leads to quick turnaround time which is important to stay ahead of the competition.…Read More
SureLock and SureMDM For Logistics
Enroll Devices Using QR Code – SureMDM Mobile Device Management
Adopting enterprise mobility management solutions like SureMDM for your business-owned mobile devices reap many benefits. Ability to remotely manage, secure and monitor deployed mobile devices can help your business in optimizing daily operations. In addition, securing devices/data and providing effective technical support also become easier. However, considering adoption of such solutions for the huge number of devices,…Read More
Panasonic Android Devices Get Enterprise Ready With 42Gears
42Gears now offers an exclusive Enterprise Agent for Panasonic Android devices. This Panasonic certified enterprise agent is designed to enhance lockdown functionalities of SureLock/SureFox and management functionalities of SureMDM which mean enhanced efficiency, device security, and higher productivity. When this agent is used with SureLock, SureFox, SureMDM Nix Agent or a combination of these products on Panasonic…Read More
How to balance mobile privacy vs security
Follow @42gears "BYOD strategies are the most radical change to the economics and the culture of client computing in business in decades". – David Willis, VP & Analyst, Gartner BYOD is a strategy where employees are allowed to connect their personal devices such as laptops, smartphones and tablets to the corporate network to access corporate…Read More
Prevent Mobile Devices From Distracting Your Drivers
If your business relies on mobile workforce who deliver services or products to customers, it is very important to constantly monitor them for their safety and efficiency. Among these employees who are always on the move, drivers equipped with mobile devices are the ones who are more vulnerable as they are prone to speeding and distraction-related incidents.…Read More
5 things businesses must consider before selecting an EMM solution provider
Follow @42gears Businesses today cannot think of staying competitive without the use of mobile technology. The influence of mobile technology is such that all major aspects of business and operations are now heavily dependent on it. According to a study conducted by Forrester, 71% of businesses have given high priority to mobile technology and 45%…Read More
Build secure web kiosks using Windows PCs and Tablets
Follow @42gears The recent release of Windows PCs/tablets with touch capability, enhanced display features and better battery life has enabled Windows 7/8/10 devices to be used as dedicated or public-use kiosks. But, if these devices are deployed in the unmonitored and unlocked state, they are prone to misuse, vulnerable to security threats and exposed to harmful…Read More
Innovative Trials deploys an EMM ecosystem in just weeks with 42Gears products
Follow @42gears Innovative Trials is a full-service provider of first-class patient recruitment and retention solutions to Pharmaceutical, Biotech and Contract Research Organizations (CRO). They offer customized solutions tailored to the needs of all kinds of studies. Innovative Trials maximize the potential for patient recruitment, thereby helping complete recruitment for the study on time. Mobile devices deployed for…Read More


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The New York Racing Association's three racetracks were raided by state investigators Dec. 15 as part of a sweeping probe sources said could be aimed primarily at the system of weighing jockeys.
The raid at Aqueduct, Belmont Park, and Saratoga was carried out by the New York Attorney General's Organized Crime Task Force and the State Police. Both agencies declined comment.
NYRA officials, including its new co-chairman, Steve Duncker, declined comment.
It is unclear how high up the investigation at NYRA may be headed, but sources said at least one leading NYRA official raised concerns to state officials during the past year about how jockeys are weighed before races. Whether the probe is looking at anything that could raise questions about the integrity of racing at NYRA also is unclear.
The raids were the latest in a string of incidents involving NYRA over the past several years. Next year, the state must decide whether to begin the process of putting NYRA's franchise out to bid. Its franchise to operate the tracks expires December 31, 2007. NYRA was raided several years ago as part of a probe into illegal activities involving its pari-mutuel department. That investigation resulted in NYRA being fined $3 million, and its operations are now overseen by a court-appointed monitor as part of a deferred prosecution arrangement.
The early-morning raids were at all three tracks, but investigators focused their energies chiefly at Aqueduct, racing industry sources said.
Three NYRA Tracks Raided by State Investigators
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- Top of page
- Abstract
- Patients and Methods
- Results
- Discussion
- Conclusions
- Acknowledgements and disclosures:
- References
J Clin Hypertens (Greenwich). 2011;13:563–570. ©2011 Wiley Periodicals, Inc.
Hypertension is a major risk factor for developing cardiovascular disease and is more prevalent in African Americans compared with Caucasians. African Americans are often underrepresented in clinical trials. This study was composed of a largely urban African American cohort of hypertensive patients. This was a prospective, 4-arm, randomized controlled trial designed to evaluate the comparative effectiveness of both physician and patient education (PPE), patient education only (PAE), and physician education only (PHE) vs usual care (UC). Hypertension specialists gave a series of didactic lectures to the physicians, while a nurse educator performed the patient education. The mean adjusted difference in systolic blood pressure (SBP) from baseline in the PPE group was an average reduction of 12 mm Hg (95% confidence interval [CI], −4.5 to −19.4) at 6-months, followed by average reductions of 4.6 mm Hg (6.9 to −16.12) in the PAE group, 4.1 mm Hg (3.4 to −11.7) in the PHE group, and 2.6 mm Hg (3 to −8.2) in the UC group. The PPE group achieved a significantly better reduction in SBP compared with the UC group. Additional research should be conducted to evaluate whether the use of certified hypertension educators in collaboration with physicians will result in a similar blood pressure reduction.


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Hotel Accommodation near Ko Olina
Search 5 hotels near Ko Olina
Trending now in Oahu Island
Hotels in Ko Olina
- Most bookedAulani, A Disney Resort & Spa
349 people looked at this hotel in the last hour
Most recent review
"We stayed at Aulani with our son & daughter in law, and our two grandsons - six and two. The whole experience was amazing - not a hint of a criticism, and the staff were so genuinely helpful, pleasant and co-operative. The staff numbers were the most we have seen at any hotel or resort and cou..."
G, Jul 2016, AU
285 people looked at this hotel in the last hour
Most recent review
"Stayed here with my husband on a recent trip to visit family in Kapolei. It is a nice hotel with good amenities."
S, Jul 2016, US
175 people looked at this hotel in the last hour
Most recent review
"Everything that Disney is known for is here at Aulani. The staff is great. The amenities are abundant. The property is fantastic. Loved it."
A Traveller, Jul 2016, US
77 people looked at this hotel in the last hour
59 people looked at this hotel in the last hour
Most recent review
"This is truly a condo and not a hotel. The service is virtually non-existent. You are on your own. You do your own laundry, dishes, cooking - all of that is expected. However, the lack of kitchen supplies and pantry items makes it more difficult and unwelcoming."
A Traveller, Mar 2016, US
Hotels within 7 kilometers of Ko Olina
- Hampton Inn & Suites Oahu/KapoleiNo Guest Reviews yet
37 people looked at this hotel in the last hour
Hotels within 21 kilometers of Ko Olina
188 people looked at this hotel in the last hour
Most recent review
"Check-in was miserable. Shuttle to airport is scheduled to leave on hour and half-hour and was on time. Guest room flooring was all tile, not carpet, which was fine by me. Property is in good condition. Refrigerator with separate freezer and microwave in room. Immediately after I gave my n..."
A Traveller, Jul 2016, US
Hotels within 22 kilometers of Ko Olina
211 people looked at this hotel in the last hour
Most recent review
"We felt very safe. Rent a car 30 minutes to Waikkii. "
A Traveller, Jul 2016, US
Hotels within 23 kilometers of Ko Olina
252 people looked at this hotel in the last hour
Most recent review
"The staff was very friendly and helpful. Our room was very comfortable and the bathroom was very clean. The pool and outside sitting area was very nice too. It was very quite there, no loud noise or disturbances."
A Traveller, Jul 2016, US
Hotels within 27 kilometers of Ko Olina
12 people looked at this hotel in the last hour
See Ko Olina hotels on a map
- Waikiki Beach Walk
- Ala Moana Center
- Lanikai Beach
- Hawaii Convention Center
- University of Hawaii at Manoa
- Royal Hawaiian Center
- Honolulu Zoo
- Diamond Head
- Hickam Air Force Base
- Ala Moana Beach Park
- Waimea (Oahu)
- Kailua Beach
- Polynesian Cultural Center
- Schofield Barracks
- Hanauma Bay Nature Preserve
- Waikiki Aquarium
- USS Arizona Memorial
- Kapiolani Park
- Aloha Tower Marketplace
- Banzai Pipeline
Ko Olina Travel Course
Exploring Ko Olina
Ko Olina is a massive luxury residential and vacation community. You can take a dip in the crystal clear waters. If you are in need of more action, there are endless activities you can engage in from snorkeling trips to do dolphin & whale watching to scuba diving.
Accommodation near Ko Olina
Oahu Island hotels are often situated close to the beach, with plenty of facilities to ensure you can enjoy the perfect relaxing vacation. You'll find features such as outdoor pools, restaurants with terraces, barbecue grills, function spaces, complimentary WiFi, and fitness centers. Those with families will also enjoy extras such as kid's clubs, babysitting, and separate children's pools. Recommended accommodation include the Aulani, A Disney Resort & Spa, Marriott's Ko'Olina Beach Club and Beach Villas at Ko Olina by Ola Properties.
Sightseeing near Ko Olina
Ko Olina Golf Club also boasts a beautiful 18-hole course. Designed by Ted Robinson, it has water features on many holes and multi-tiered greens. If you are looking for a family-friendly activity you can also take a short drive to Wet'n'Wild Hawaii.
Transportation near Ko Olina
Honolulu International Airport (HNL) is just a few miles north of the city of Honolulu, and only 10 miles from the popular resort of Waikiki. There are plenty of taxis and private shuttles available from the airport, and these can be booked in advance so you don't need to wait around. There are also several car rental desks in the terminal. To move around the island you can rent a car, or make use of the efficient bus system called TheBus.
Oahu Island travel guides
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CEDAR RAPIDS, IA- The Peoria Chiefs took a 2-1 lead into the eighth inning but allowed three runs to the Cedar Rapids Kernels in a 4-2 loss Saturday night. The loss drops the Chiefs to 27-27 in the second half and 64-59 overall. The Chiefs are now 2 ½ games out of the wild card race with 16 games left to play.
The Kernels jumped out to an early lead in the bottom of the third against Arturo Reyes. Ryan Walker doubled with two outs and Jonatan Hinojosa singled to right for the 1-0 lead. The Chiefs tied the game in the top of the fourth with an identical rally. Carson Kelly doubled with two outs off Lewis Thorpe and scored on a single by Justin Ringo.
The Chiefs went on top for the first time in the series in the top of the sixth. Richy Pedroza doubled to left-center to start the inning and with one out Thorpe was relieved by Chris Mazza. After a strikeout, Ringo doubled to left to score Pedroza and put the Chiefs on top 2-1.
Reyes kept the Chiefs ahead into the seventh inning before he issued a one-out walk and gave way to newcomer Tyler Bray. Bray, who arrived two hours before first pitch from State College, got a pop up and a strikeout to end the seventh.
The Chiefs couldn't add on in the eighth and Bray allowed a one-out walk and single in the bottom of the inning. With runners on the corners, Kyle Barraclough came into the game and Hinojosa put the Kernels on top 3-2 with a triple to center. The Kernels took a 4-2 lead as Hinojosa scored on a single by Engelb Vielma. The Chiefs went in order in the ninth against Jake Reed.
Reyes allowed one run on five hits over 6 1/3 innings in the no-decision. He struck out six and walked two. Bray (0-1) allowed two runs on one hit and one walk over one inning of work while recording a strikeout. Barraclough suffered his first blown save in seven chances. He allowed one run on two hits and a walk in 2/3 of an inning.
Notes: Vaughn Bryan's hit streak ended at eight games…CJ McElroy, who left Friday's game with a right-leg injury after making a diving catch in the bottom of the eighth inning did not play for the first time in 68 games…Pedroza batted second for just the second time all season…The Chiefs are now 48-6 when leading after seven innings…Reyes leads the Chiefs with 11 quality starts…Bray is the first 2014 Cardinals draftee to join the Chiefs…He was drafted in the 26th round out of Louisiana-Monroe and pitched 17 times for State College this season…The Chiefs and Kernels have played 15 times this season with the Chiefs winning 11…The series and roadtrip end Sunday at 2:05 p.m. as the Chiefs start LH Kyle Helisek (1-0, 6.43) against Kernels RH Ryan Eades (8-11, 5.67)…The broadcast can be heard, starting with the Pre-Game Show at 1:50 p.m., on www.peoriachiefs.com/listenlive which also has downloads for a free app on the iPhone, iPad, Blackberry and Android. The broadcast is also available on the Peoria Chiefs Network in the Tune-In Radio App.
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Goodreads helps you keep track of books you want to read.
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Preview — A Persistent Peace by John Dear
A Persistent Peace: One Man's Struggle for a Nonviolent World
by John Dear
All of us say we want peace, but only a few are willing to prove it. John Dear, SJ, has been arrested more than seventy-five times. He has spent more than a year of his life in jail. He has been mocked by an armed and angry U.S. National Guard battalion standing outside the doors to his New Mexico parish. All this because he so fervently believes in peace.
A Persistent Peac ...more
A Persistent Peac ...more
Hardcover, 456 pages
Published August 1st 2008 by Loyola Press
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Community Reviews
(showing 1-30 of 167)
Nov 22, 2014 Bishop Bergland rated it really liked it · review of another edition
Shelves: christianity, autobiography, non-violence, peace, social-justice
A fascinating book. There are some factual errors, one worth noting is that he blames current Presiding Bishop Jefferts-Schori for a cowardly decision by the then Presiding Bishop of the Episcopal Church Edmund Browning in 1995. It's not a huge error, Presiding Bishops of the Episcopal Church seem to excel at cowardly decisions, still the blame should fall on the correct coward.
Fr. Dear challenges the cowardliness we all share when we fail to decry all war as evil. Our reasons are many, quite of ...more
Fr. Dear challenges the cowardliness we all share when we fail to decry all war as evil. Our reasons are many, quite of ...more
Jan 23, 2016 Jim Baesler rated it really liked it
Shelves: relationships, john, peace, nonviolence, history, organizations, dear
Father John Dear chronicles personal relationships in his life with the themes of God's love, nonviolence, and peace from 1978-2005...many times as i read i felt tears welling up at the injustice, ill-treatment, craziness, loneliness, irony, despair, hate, and evil of the world...but also, over and over, John Dear shows us that there is love and hope in a person's commitment to forgive and bring healing and peace to the violence in the world...while i drew much inspiration from this book, i also ...more
Mar 30, 2012 Dale rated it it was ok
Let me start this review by stating the following in clear and unequivocal terms:
I have no problem whatsoever with people who protest and demonstrate for the things they believe in, especially those who do it like Rev. John Dear, who proceeds with the understanding that there is a possibility of arrest and detention as he protests for peace and against social inequity.
The positives of A Persistent Peace: One Man's Struggle for a Nonviolent World :
It is written in an engaging style, ...more
Jun 04, 2009 Sarah rated it liked it
Shelves: social-justice, 2009
This was an inspiring and thought-provoking book about the life of a Jesuit peacemaker, a passionate man willing to take a stand (often all the way to prison) for his beliefs: that war and violence in any circumstance is evil and will only bring more violence, never solve problems or usher in peace. From organizing protests against the contra wars, to participating in the Ploughshares movement (based on the biblical premise of beating swords into ploughshares, which in practice meant destroying ...more
Feb 17, 2015 Raborn rated it it was amazing
Amazing stories of a life lived for peace and nonviolence! John Dear has been to the edge of what it means to resist the empire. Let it not be said of him that he is merely a naive idealist. His faith in nonviolence has been tested in the crucible of war zones, prison, death row, the slums, and the Pentagon itself. Fantastic.
May 02, 2010 Mike rated it really liked it
Shelves: spirituality, kindle-books, biography
Autobiography of one of the true heroes of our time. John Dear is a Jesuit priest and a peace activist who has devoted his life to the cause of peace and justice. He has been arrested numerous times for protesting policies of the US government that run counter to Christ's command that we love our neighbor as ourselves (including spending seven months in prison after a protest at an Air Force base in North Carolina) and has also spent time in Central America with the oppressed people of that part ...more
Dec 20, 2015 Therese A. Brink rated it liked it
A good man, an interesting story, but I deducted a star for his self-aggrandizement and exageration.
Dec 07, 2013 Alex Decker rated it it was amazing
I don't think that I have ever had a book open my eyes quite the way this one did. The world would be a much better place if instead of getting sound bites from Palin & Cruz etc we got them from him. Wait, please understand this isn't true political book. In our wedge culture where we like everything defined and branded, Dear most likely falls into far left category. He speaks for a world without war and violence, so if you consider that liberal then yeah it is. But, if you want a book that ...more
Dec 13, 2008 Sarah rated it really liked it
I didn't finish this before I had to return it but what I read I enjoyed. I hope to finish it someday.
It's the story of a Jesuit priest who has devoted his life to nonviolence. His sincerity and love for Jesus is very touching. I admire people who really devote their lives to getting rid of war. Really, why are we still having wars? I don't understand....I don't like it.
So it's inspiring to read about someone who really tries hard to promote peace and stop wars and violence.
It's the story of a Jesuit priest who has devoted his life to nonviolence. His sincerity and love for Jesus is very touching. I admire people who really devote their lives to getting rid of war. Really, why are we still having wars? I don't understand....I don't like it.
So it's inspiring to read about someone who really tries hard to promote peace and stop wars and violence.
May 04, 2013 Dona rated it it was amazing
I read this book in when it first came out. It was one of those books that, literally, jumped off the shelf for me.
It is extremely well written an inspired me beyond words. Even if one is not into the peace movement, I feel they can take many positives from it.
The basic message for me is to be passionate about life, your path, the beliefs you carry.
It is extremely well written an inspired me beyond words. Even if one is not into the peace movement, I feel they can take many positives from it.
The basic message for me is to be passionate about life, your path, the beliefs you carry.
Dec 08, 2012 Beth Davis rated it it was amazing
Always passionate without being preachy, Father Dear shares his own struggles with faith and staying the course for peace in a world consumed by violence. I saw him speak 10 years ago, and his is still one of the people in the world I admire most today. Definitely recommend this to anyone interested in non-violent activism.
Nov 18, 2008 Debbie rated it it was amazing
What a truely blessed and gifted man. I found both this story about his commitment to the pursuit of peace not only in his daily life but throughout the world to be truely awe inspiring. Here is a man who daily walks his heart and his convictions to be more like the nonviolent Jesus.
Dec 29, 2014 Linda rated it really liked it
I found this compelling. We need more people like him...
Sep 13, 2011 faeriecrone rated it liked it
This book is like an insider's history of the peace movement in the U.S. and abroad. While I do not agree with Dear's paradigm, I agree with his actions. GAndhi has many active followers and that is encouraging.
Nov 03, 2010 Kathleen rated it it was amazing · review of another edition
I read this entire book in two days. Lots of messages still surfacing for me. In a world that seems so upside down to me much of the time, this is a story of hope and faith.
Dec 16, 2009 John rated it really liked it
The story of a Calling and considering what would Jesus or a God really do when faced with adversity, violence and poverty. (My Complete book review on Amazon)
Mar 22, 2009 Rich rated it liked it
Interesting. It really makes you think about what is worth protesting for, and how one person can make a difference
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Father John Dear (The Society of Jesus) is an internationally known voice for peace and nonviolence. A Jesuit priest, pastor, peacemaker, organizer, lecturer, and retreat leader, he is the author/editor of 30 books, including his autobiography, "A Persistent Peace." In 2008, John was nominated for the Nobel Peace Prize by Archbishop Desmond Tutu.More about John Dear...
From 1998 until December 2000, he served as the exec ...more
From 1998 until December 2000, he served as the exec ...more
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2 killed in Kannur: Why the CPI(M)-BJP war in Kerala will get ...The over four decade long political vendetta between the CPI(M) and the BJP-RSS in Keralas Kannur district consumed two more lives on Monday night. Two more wives were widowed, four more children left fatherless. At around 10 pm on Monday, CPI(M) worker CV ... catchnews.com, 5 days ago
CPI(M) worker hacked to death in Kerala - Equilibrio Informativo, 1 week ago
CPI(M) and RSS workers murdered in revenge killing by gang in Kerala - Siasat Daily, 1 week ago
887 images for bjp kerala
CPM alleges BJP bid to tarnish Kerala government image
Thiruvananthapuram: The CPM has accused the RSS-BJP of unleashing series of violence across the state with the objective of painting Kerala as a state with serious law and order problems. The party believes that the RSS tactics is to first create ...Deccan Chronicle, 1 week ago Kerala to take Colachel issue to PM Modi Oneindia, 1 week ago Kerala govt to take Colachel issue to Modi News Today, 1 week ago Vizhinjam is Kerala's project, Kulachal is Centre's: Minister Mathrubhumi, 2 weeks ago
UDF walks out of assembly over political murders
THIRUVANANTHAPURAM: The murder of two workers belonging to CPI (M) and BJP in Kannur had its echo in the Kerala assembly Wednesday with Congress-led UDF Opposition members staging a walkout in protest against the government's alleged tepid response ...Kaumudi, 1 week ago UDF walks out of Kerala assembly over murder of BJP, CPM workers Deccan Chronicle, 1 week ago Kerala minister Sudhakaran made obscene gesture in assembly? Manorama Online, 1 week ago Opposition stages walkout over murder incidents United News of India, 1 week ago
2 CPI-M, BJP activists murdered in Kerala
ians Payyannur After a lull, two political murders -- that of a CPI-M activist and a BJP worker -- within a span of few hours again shook north Kerala's politically sensitive Kannur district. Five suspected Rashtriya Swayamsevak Sangh (RSS) ...Qatar Tribune, 2 weeks ago Two murders in two hours: More blood shed in Left-BJP rivalry in north Kerala Indian Express, 2 weeks ago Keralas political killings return as two CPI-M, BJP activists murdered Nerve, 2 weeks ago LD MURDER 2 LAST - (REOPENS MDS1) Namibia Press Agency, 2 weeks ago
Dalit forum condemns BJP
State president of the Kerala Dalit Federation (KDF) P. Ramabhadran has said that the Dalit hatred of the Bharatiya Janata Party (BJP) has reached its pinnacle. Dalit youths were bound up and badly beaten in the Prime Ministers home State of Gujarat for ...The Hindu, 5 days ago MPs demand measures to curb atrocities against dalits Asian Age, 1 day ago Dalit attacks: MPs seek quick action, statement from PM Rediff.com, 1 day ago
After criticism,top lawyer Damodaran not to be Kerala CM legal
After widespread criticism from various quarters, including Congress-led UDF and BJP, eminent lawyer M K Damodaran today decided not to take up the post of Legal Advisor of Kerala Chief Minister Pinarayi Vijayan. The appointment by the ...Business Standard, 1 week ago
Kerala CM Pinarayi Vijayan playing appeasement politics: BJP
THIRUVANANTHAPURAM: BJP today flayed Kerala Chief Minister Pinarayi Vijayan's statement that an attempt was being made to create an anti-Muslim feeling in the society, saying he was indulging in "appeasement politics". Party state president ...Economic Times, 2 weeks ago Kerala Chief Minister playing appeasement politics, Says BJP NDTV, 2 weeks ago CM cautions against attempts to divide society The Gulf Today, 2 weeks ago Why Youngsters From Kerala Being Drawn to ISIS? News18.com, 2 weeks ago
More from: , Deccan Chronicle...and 4 other sources
Kannur killings were revenge acts: Pinarayi
Kerala Chief Minister Pinarayi Vijayan has said Monday nights murder of a BJP activist in Kannur was executed to avenge the killing of a CPI(M) activist in the neighbourhood only hours earlier. Vijayan said this in response to an adjournment motion on the ...Business Line, 1 week ago BJP, CPI-M lose workers in revenge killings The Gulf Today, 2 weeks ago Kerala CM says political enmity behind killings in Kannur Asia Net India, 1 week ago Kerala CM says it's political violence in Kannur, and admits his party's role Manorama Online, 1 week ago
'Be prepared': BJP leader Surendran gets death threat on Facebook
Thiruvananthapuram: In an apparent reaction to the two recent political killings in Kannur, BJP's Kerala general secretary K. Surendran received a death threat on Facebook. The threat message was posted by a Facebook user with the name Nipun Nipu ...Manorama Online, 1 week ago Life threat to K Surendran through Facebook Kaumudi, 1 week ago
BJP asks CPM to have a rethink on secularism
BJP national president Amit Shah comes out after the NDA meeting in Thiruvananthapuram. P C Thomas of the Kerala Congress, C K Janu of the Janadipatya Rashtriya Sabha and BJP state president Kummanam Rajasekharan are also seen | B P Deepu ...New Indian Express, 1 month ago Court spoils Neda launch party Calcutta Telegraph, 1 week ago Amit Shah asks party leaders to woo Dalits, convert support to votes Livemint.com, 1 month ago Shah assures BJP's Kerala unit of all support Business Line, 1 month ago
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If you've followed along with us recently, you might know that I hated the Fallout 4 Season Pass up to this point. Well, maybe not "hated", but I haven't exactly been pleased, either. 445 more words
Tags » Fallout 4
Recommendation Wednesday - Monster Factory
Here's something to get you through Hump Day but good!
Have you heard of the… 300 more words
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Fallout 4 took the gaming world by storm when it was released in November, 2015. Even though it has been less than a year, it is still a popular game for many gamers. 630 more words
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Side Quests, a term I had not really heard of until the PS3 came out and I bought my first
Assassin's Creed game. Gaming has changed so much, in particular with open world games Like Fallout, that the main campaign according to developers is not enough content within it to get the full experience of these games…enter side quests. 456 more words
Vault-Tec: Moral Choices... UNDERGROUND!
By Jw Story
Fallout 4's Vault-Tec Workshop DLC came out today, so I feel it's the perfect time to discuss the real morality of those Vault-Tec experiments that we are all now commiting. 464 more words
Fallout 4 LP 36 "Getting Mel Out"
Fallout 4 is an action role-playing video game developed by Bethesda Game Studios and published by Bethesda Softworks.
Initial release date: November 10, 2015
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Vault Tec Calling! A Review of Vault Tec Workshop
Yesterday seen the launch of the much anticipated Vault Tec Workshop, the 5th instalment of Bethesda's downloadable content (DLC) for the Fallout 4 Series. The DLC starts out in the south Boston area in Quincy Quarry. 817 more words


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Posts filed under 'Uncategorized'
Do you remember the panic-inducing headlines related to PIIGS, Crimea, Ebola, Cyprus, and the Flash Crash? Probably not. But if you do remember, these false alarms have likely been relegated to the financial memory graveyard, along with the many other sensationalist news events that have been killed off in the post-financial crisis era. Time will tell whether Brexit dies off or becomes a resurrected concern, like the repeating fears of a China slowdown or Greek collapse. Regardless, as the S&P 500 stock index reaches new all-time record highs, investors are currently shrug off the noise while muttering, "Brexit-Schmexit."
Individuals have tried to use scary headlines as a timing tool to consistently time market corrections for all of recorded history. Unfortunately, emotional, knee-jerk reactions to alarming news stories rarely is the best strategy. Famed fund manager Peter Lynch said it best when he noted,
"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."
Having invested for some 25 years, experience has taught me not only is conventional wisdom often wrong, but it also is frequently an accurate contrarian indicator. In other words, frightening news often should be an indicator to buy…not sell. Case in point is the U.K. European Union referendum. The Brexit referendum "Leave" vote caught virtually everyone by surprise, but the rebound in stock prices to new record highs may be even more surprising to most observers. However, for investors following the key factors of interest rates, profits, valuation, and sentiment (see also Don't Be a Fool, Follow the Stool), may not be shocked by the positive price action.
- Interest Rates: For starters, you don't have to be a genius to realize that stocks become more attractive when there is a scarcity of investment alternatives. When there are an estimated $13 trillion of negative interest rate bonds, a layman can quickly understand a 2%, 3%, or 4% dividend yield offered on certain stocks (and funds) can represent a much more attractive opportunity. With interest rates at record lows (see chart below), the overall dividend yield of stocks has provided a floor for stock prices and has limited the depth and duration of sell-offs and corrections.
- Profits: Corporate profits are near record highs but have been sluggish due to several factors, including the negative impact of the strong dollar on multinational exports; the depressing effect of declining interest rates on the banking sector's net interest profit margins; the general decline in oil and commodity prices; and general lethargic economic growth overall in international markets (emerging and developed economies). Encouragingly, a stabilization in the value of the U.S. dollar, along with a rebound in energy prices augurs well for a potential shift back to earnings growth in the coming quarters.
- Valuation: On a valuation basis, the Price/Earnings ratio of the stock market is about 10-15% above historical averages (see chart below). The average S&P 500 stock price trades around 19x's the value of trailing twelve-month earnings. However, in the context of all-time record low-interest rates, a premium valuation is well deserved, especially for those companies paying a dividend and growing their bottom line.
- Sentiment: Since the Great Financial Crisis / Recession, there has been about $1.5 trillion in equity investments that have been pulled out of U.S. equity mutual funds. This statistic is a clear sign of the extreme risk aversion and pervasive pessimism. Despite money flowing out of equity funds, corporations have bolstered the upward trajectory in stock prices with hundreds of billions in corporate stock buybacks and trillions in mergers & acquisition transactions. With all the universal jitteriness, I like to remind investors of Warren Buffett's credo, "Buy fear, and sell greed."
Brexit-Schmexit NOT Brexit-Panic
Despite the risk aversion in the marketplace, stock prices in the U.S. continue to grind higher to record levels. The stock market is currently communicating interest rates, profits, valuation, and sentiment are more important factors to price direction than are Brexit and other geopolitical concerns.
The silver lining behind severe investor skepticism is the creation of additional investment opportunities. As famous investor Sir John Templeton stated regarding stock market cycles, "Bull markets are born on pessimism and they grow on skepticism, mature on optimism, and die on euphoria." Even the most objective observers have difficulty pointing to a broad set of indicators signaling euphoria, and the recent Turkish military coup attempt and domestic gun violence incidents will not squash out the negativity. Until optimism and elation rule the day, there's no need to worry-schworry.
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds , but at the time of publishing had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Brexit Briefing
There is no shortage of Brexit articles, but as I compile information for my monthly newsletter later this week (subscribe at Investing Caffeine – right column), here are some of my favorite links:
1) How to Make Sense of the Brexit Turmoil (FiveThirtyEight)
2) Brexit Meltdown Charts (Ritholtz)
3) House of Commons UK-EU Economic Relations Report (Parliament Research Briefings)
4) What is article 50 and why is it so central to the Brexit debate? (The Guardian)
5) The Difference Between the EU and Euro Zone (Moody's)
6) Brexit's First 100 Days (Bloomberg)
7) Brexit Impact on Wimbledon Paychecks (Fox Sports)
8) Relationship Between the U.K., Britain, England, Great Britain, Ireland, Northern Island, Wales, and British Isles (Project Britain)
9) Brexit Voting Results by Age (Ben Riley-Smith – Twitter)
10) Brexit Impact on Global Economy (Wall Street Journal)
11) Brexit is Not the End of the World (Calafia Beach Pundit)
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds , but at the time of publishing had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Cleaning Out Your Investment Fridge
This article is an excerpt from a previously released Sidoxia Capital Management complimentary newsletter (June 1, 2016). Subscribe on the right side of the page for the complete text.
Summer is quickly approaching, but it's not too late to do some spring cleaning. This principle not only applies to your cluttered refrigerator with stale foods but also your investment portfolio with moldy investments. In both cases, you want to get rid of the spoiled goods. It's never fun discovering a science experiment growing in your fridge.
Over the last three months, the stock market has been replenished after a rotten first two months of the year (S&P 500 index was down -5.5% January through February). The +1.5% increase in May added to a +6.6% and +0.3% increase in March and April (respectively), resulting in a three month total advance in stock prices of +8.5%. Not surprisingly, the advance in the stock market is mirroring the recovery we have seen in recent economic data.
After digesting a foul 1st quarter economic Gross Domestic Product (GDP) reading of only +0.8%, activity has been smelling better in the 2nd quarter. A recent wholesome +3.4% increase in April durable goods orders, among other data points, has caused the Atlanta Federal Reserve Bank to raise its 2nd quarter GDP estimate to a healthier +2.9% growth rate (from its prior +2.5% forecast).
Consumer spending, which accounts for roughly 70% of our country's economic activity, has been on the rise as well. The improving employment picture (5.0% unemployment rate last month) means consumers are increasingly opening their wallets and purses. In addition to spending more on cars, clothing, movies, and vacations, consumers are also doling out a growing portion of their income on housing. Housing developers have cautiously kept a lid on expansion, which has translated into limited supply and higher home prices, as evidenced by the Case-Shiller indices charted below.
Source: Bespoke
Spoiling the Fun?
While the fridge may look like it's fully stocked with fresh produce, meat, and dairy, it doesn't take long for the strawberries to get moldy and the milk to sour. Investor moods can sour quickly too, especially as they fret over the impending "Brexit" (British Exit) referendum on June 23rd when British voters will decide whether they want to leave the European Union. A "yes" exit vote has the potential of roiling the financial markets and causing lots of upset stomachs.
Another financial area to monitor relates to the Federal Reserve's monetary policy and its decision when to further increase the Federal Funds interest rate target at its June 14th – 15th meeting. With the target currently set at an almost insignificantly small level of 0.25% – 0.50%, it really should not matter whether Chair Janet Yellen decides to increase rates in June, July, September and/or November. Considering interest rates are at/near generational lows (see chart below), a ¼ point or ½ point percentage increase in short-term interest rates should have no meaningfully negative impact on the economy. If your fridge was at record freezing levels, increasing the temperature by a ¼ or ½ degree wouldn't have a major effect either. If and when short-term interest rates increase by 2.0%, 3.0%, or 4.0% in a relatively short period will be the time to be concerned.
Source: Scott Grannis
Keep a Fresh Financial Plan
As mentioned earlier, your investments can get stale too. Excess cash sitting idly earning next-to-nothing in checking, savings, CDs, or in traditional low-yielding bonds is only going to spoil rapidly to inflation as your savings get eaten away. In the short-run, stock prices will move up and down based on frightening but insignificant headlines. However, in the long-run, the more important issues are determining how you are going to reach your retirement goals and whether you are going to outlive your savings. This mindset requires you to properly assess your time horizon, risk tolerance, income needs, tax situation, estate plan, and other unique circumstances. Like a balanced diet of various food groups in your refrigerator, your key personal financial planning factors are dependent upon you maintaining a properly diversified asset allocation that is periodically rebalanced to meet your long-term financial goals.
Whether you are managing your life savings, or your life-sustaining food supply, it's always best to act now and not be a couch potato. The consequences of sitting idle and letting your investments spoil away are a lot worse than letting the food in your refrigerator rot away.
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds (ETFs), but at the time of publishing had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Energizer Market… Keeps Going and Going
This article is an excerpt from a previously released Sidoxia Capital Management complimentary newsletter (May 2, 2016). Subscribe on the right side of the page for the complete text.
Boom, boom, boom…it keeps going…and going…and going…
You've seen the commercials: A device operating on inferior batteries dies just as a drum-beating, battery operated Energizer bunny comes speeding and spiraling across the television screen. Onlookers waiting for the battery operated toy to run out of juice, instead gaze in amazement as they watch the energized bunny keep going and going. The same phenomenon is occurring in the stock market, as many observers eagerly await for stock prices to die. The obituary of the stock market has been written many times over the last eight years (see Series of Unfortunate Events). Mark Twain summed up this sentiment well, when after a premature obituary was written about him, he quipped, "The reports of my death are greatly exaggerated."
With fears abound, stocks added to their annual gains by finishing their third consecutive positive month with the S&P 500 indexes and Dow Jones Industrial Average advancing +0.5% and +0.3%, respectively. Skeptics and worry-warts have been concerned about stocks plummeting ever since the Financial Crisis of 2008-2009. We experienced a 100 year flood then, and as a consequence, scarred investors now expect the 100 year flood to repeat every 100 days (see also 100 Year Flood). Given the damage created in the wake of the "Great Recession," many individuals have become afraid of their own shadow. The shadows currently scaring investors include the following:
- Negative Interest Rates: The unknown consequences of negative interest rate policies by central banks (see chart below).
- U.S. Monetary Policy: The potential continuation of the Federal Reserve hiking interest rates.
- Sluggish Economic Growth: With a GDP growth figure up only +0.5% during the first quarter many people are worried about the vulnerability of slipping into recession.
- Brexit Fears: Risk of Britain exiting the European Union (a.k.a. "Brexit") will blanket the airwaves as the referendum approaches next month
For these reasons, and others, the U.S. central bank is likely to remain accommodative in its stance (i.e., Fed Chairwoman Janet Yellen is expected to be slow in hitting the economic brakes via interest rate hikes).
Source: Financial Times. Central banks continue with attempts to stimulate with zero/negative rates.
Climbing the Wall of Worry
Despite all these concerns, stock prices continue climbing the proverbial "wall of worry" while approaching record levels. As famed investor Sir John Templeton stated on multiple occasions, "Bull markets are born on pessimism, and they grow on skepticism, mature on optimism, and die on euphoria." It's obvious to me there currently is no euphoria in the overall market, if you consider investors have withdrawn $2 trillion in stock investments since 2007. The phenomenon of stocks moving higher in the face of bad news is nothing new. A recent study conducted by the Financial Times newspaper shows the current buoyant bull market entering the second longest advancing period since World War II (see chart below).
Source: Financial Times
There will never be a shortage of concerns or bad things occurring in a world of 7.4 billion people, but the Energizer bunny U.S. economy has proven resilient. Our economy is entering its seventh consecutive year of expansion, and as I recently pointed out the job market keeps plodding along in the right direction – unemployment claims are at a 43-year low (see Spring Has Sprung). Over the last few years, these job gains have come despite corporate profits being challenged by the headwinds of a stronger U.S. dollar (hurts our country's exports) and tumbling energy profits. Fortunately, the negative factors of the dollar and oil prices have stabilized lately, and these dynamics are in the process of shifting into tailwinds for company earnings. The -5.7% year-to-date decline in the Dollar Index coupled with the recent rebound in oil prices are proof that the economic laws of supply-demand eventually respond to large currency and commodity swings. With the number of rigs drilling for oil down by approximately -80% over the last two years, it comes as no surprise to me that a drop in oil supply has steadied prices.
The volatility in oil prices has been amazing. Energy companies have been reeling as oil prices dropped -76% from a 2014-high of $108 per barrel to a 2016-low of $26 per barrel. Since then, the picture has improved significantly. Crude oil prices are now hovering around $46 per barrel, up +76%.
Energy Bankruptcy & Recessionary Fears Abate
If you take a look at the borrowing costs of high-yield companies in the chart below (Calafia Beach Pundit), you can see that prior spikes in the red line (all high-yield borrowing costs) were correlated with recessions – represented by the gray periods occurring in 2001 and 2008-09. During 2016, you can see from the soaring blue line, investors were factoring in a recession for high-yield energy companies (until the oil price recovery), but the non-energy companies (red-green lines) were not anticipating a recession for the other sectors of the economy. Bottom-line, this chart is telling you the knee-jerk panic of recessionary fears during the January-February period of this year has quickly abated, which helps explain the sharp rebound in stock prices.
After a jittery start to 2016 when economic expectations were for a dying halt, investors have watched stocks recharge their batteries in March and April. There are bound to be more fits and starts in the future, as there always are, but for the time being this Energizer bunny stock market and economy keeps going…and going…and going…
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds (ETFs), but at the time of publishing had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Extrapolation: Dangers of the Reckless Ruler
The game of investing would be rather simple if everything moved in a straight line and economic data points could be could be connected with a level ruler. Unfortunately, the real world doesn't operate that way – data points are actually scattered continuously. In the short-run, inflation, GDP, exchange rates, interest rates, corporate earnings, profit margins, geopolitics, natural disasters, financial crises, and an infinite number of other factors are very difficult to predict with any accurate consistency. The true way to make money is to correctly identify long-term trends and then opportunistically take advantage of the chaos by using the power of mean reversion. Let me explain.
Take for example the just-released October employment figures, which on the surface showed a blowout creation of +271,000 new jobs during the month (unemployment rate decline to 5.0%) versus the Wall Street consensus forecast of +180,000 (flat unemployment rate of 5.1%). The rise in new workers was a marked acceleration from the +137,000 additions in September and the +136,000 in August. The better-than-expected jobs numbers, the highest monthly addition since late 2014, was paraded across television broadcasts and web headlines as a blowout number, which gives the Federal Reserve and Chairwoman Janet Yellen more ammunition to raise interest rates next month at the Federal Open Market Committee meeting. Investors are now factoring in roughly a 70% probability of a +0.25% interest rate hike next month compared to an approximately 30% chance of an increase a few weeks ago.
As is often the case, speculators, traders, and the media rely heavily on their trusty ruler to connect two data points to create a trend, and then subsequently extrapolate that trend out into infinity, whether the trend is moving upwards or downwards. I went back in time to explore the media's infatuation with limitless extrapolation in my Back to the Future series (see Part I; Part II; and Part III). More recently, weakening data in China caused traders to extrapolate that weakness into perpetuity and pushed Chinese stocks down in August by more than -20% and U.S. stocks down more than -10%, over the same timeframe.
While most of the media coverage blew the recent jobs number out of proportion (see BOOM! Big Rebound in Job Creation), some shrewd investors understand mean reversion is one of the most powerful dynamics in economics and often overrides the limited utility of extrapolation. Case in point is blogger-extraordinaire Scott Grannis (Calafia Beach Pundit) who displayed this judgment when he handicapped the October jobs data a day before the statistics were released. Here's what Grannis said:
The BLS's estimate of private sector employment tends to be more volatile than ADP's, and both tend to track each other over time. That further suggests that the BLS jobs number—to be released early tomorrow—has a decent chance of beating expectations.
Now, Grannis may not have guaranteed a specific number, but comparing the volatile government BLS and private sector ADP jobs data (always released before BLS) only bolsters the supremacy of mean reversion. As you can see from the chart below, both sets of data have been highly correlated and the monthly statistics have reliably varied between a range of +100k to +300k job additions over the last six years. So, although the number came in higher than expected for October, the result is perfectly consistent with the "slowly-but-surely" growing U.S. economy.
While I spend much more time picking stocks than picking the direction of economic statistics, even I will agree there is a high probability the Fed moves interest rates next month. But even if Yellen acts in December, she has been very clear that this rate hike cycle will be slower than previous periods due to the weak pace of economic expansion. I agree with Grannis, who noted, "Higher rates would be a confirmation of growth, not a threat to growth." Whatever happens next month, do yourself a favor and keep the urge of extrapolation at bay by keeping your pencil and ruler in your drawer.
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds (ETFs) , but at the time of publishing, SCM had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
The Fallibility of Tangibility
Why do so many star athletes end up going bankrupt? Rather than building a low-cost, tax-efficient, diversified portfolio of stocks and bonds that could help generate significant income and compounded wealth over the long-term (yawn…boring), many investors succumb to the allure of over-exposing themselves to costly, illiquid, tangible assets, while assuming disproportionate risk.
After all, it's much more exciting to brag about the purchase of a car wash, apartment building or luxury condo than it is to whip out a brokerage statement and show a friend a bond fund earning a respectable 4% yield.
Many real estate investors in my Southern California backyard (epicenter of the 2008-2009 Financial Crisis) have experienced both ruin and riches over the last few decades. The appeal and pitfalls associated with owning tangible assets like real estate are particularly exemplified with professional athletes (see also Hidden Train Wreck). Consider the fate suffered by these following individuals:
- Mike Tyson: Famous boxer Mike Tyson tore through $300 million on multiple homes, cars, jewels and pet tigers before filing for bankruptcy in 2003.
- Julius Erving: Hall of Fame NBA player Julius "Dr. J" Erving went financially belly-up in 2010 after his Celebrity Golf Club International was pushed into foreclosure. Dr. J. was also forced to auction off coveted NBA memorabilia (including championship uniforms, trophies, and rings) along with foreclosing on his personal $2 million, 6,600-square foot Utah home.
- Mark Brunell: Pro Bowl quarterback Mark Brunell was estimated to have earned over $50 million during his career. Due to failed real estate ventures and business loans, Brunell filed for bankruptcy in 2010.
- Evander Holyfield: Heavyweight boxing champion Evander Holyfield burned through a mountain of money estimated at $230 million, including a 235-acre Utah estate, which had 109 rooms and included at least one monthly electric bill of $17,000.
Caveat Emptor
Inclusion of real estate as part of a diversified portfolio makes all the sense in the world – this is exactly what we do for clients at Sidoxia. But unfortunately, many investors mistake the tangibility of real estate with "lower risk," even though levered real estate is arguably more volatile than the stock market – evidenced by the volatility in publicly traded REIT share prices. For example, the Dow Jones SPDR REIT (RWR) declined by -78% from its 2007 high to its 2009 low versus the S&P 500 SPDR (SPY) drop of -57% over the comparable period. Private real estate investors are generally immune from the heart-pumping price volatility rampant in the public markets because they are not bombarded with daily, real-time, second-by-second pricing data over flashing red and green colored screens.
Without experiencing the emotional daily price swings, many real estate investors ignore the risks and costs associated with real estate, even when those risks often exceed those of traditional investments (e.g., stocks and bonds). Here are some of the important factors these real estate investors overlook:
Leverage: Many real estate investors don't appreciate that the fact that 100% of a 10% investment (90% borrowed) can be wiped out completely (i.e., lose -100%), if the value of a property drops a mere -10%. Real estate owners found this lesson out the hard way during the last housing downturn and recession.
Illiquidity: Unlike a stock and bond, which merely takes a click of a mouse, buying/selling real estate can take weeks, if not months, to complete. If a seller needs access to liquidity, they may be forced to sell at unattractively low, fire-sale prices. Pricing transparency is opaque due to the variability and volume of transactions, although online services offered by Zillow Group Inc. (Z).
Costs: For real estate buyer, the list of costs can be long: appraisal fee, origination fee, pre-paid interest, pre-paid insurance, flood certification fee, tax servicing fee, credit report fee, bank processing fee, recording fee, notary fee, and title insurance. And once an investment property is officially purchased, there are costs such as property management fees, property taxes, association dues, landscaping fees and the opportunity costs of filling vacancies when there is tenant turnover. And this analysis neglects the hefty commission expenses, which generally run 5-6% and split between the buying and selling agent. Add all these costs up, and you can understand the dollars can become significant.
Concentration Risk: It's perfectly fine to own a levered, cyclical asset in a broadly diversified portfolio for long-term investors, but owning $1.3 million of real estate in a $1.5 million total portfolio does not qualify as diversified. If a portfolio is real estate heavy, hopefully the real estate assets are at least diversified across geographies and real estate type (e.g., residential / commercial / multi-family / industrial / retail mall / mortgages / etc).
Stocks Abhorred, Gold & Real Estate Adored
With the downdraft in the stock market that started in late August, a recent survey conducted by CNBC showed how increased volatility has caused wealthy investors to sour on the stock market. More specifically, the All-America Survey, conducted by Hart-McInturff, polled 800 wealthy Americans at the beginning of October. Unsurprisingly, many investors automatically correlate temporary weakness in stocks to a lagging economy. In fact, 32% of respondents believed the U.S. economy would get worse, a 6% increase from the last poll in June, and the highest level of economic pessimism since the government shutdown in 2013 (as it turned out, this was a very good time to buy stocks). These gloom and doom views manifested themselves in skeptical views of stocks as well. Overall, 46% of the public felt it is a bad time to invest in stocks, representing a 12% gain from the last survey.
With investor appetites tainted for stocks, hunger for real state has risen. Actually, real estate was the top investment choice by a large margin, selected by 39% percent of the investors polled. Real estate has steadily gained in popularity since the depths of the recession in 2008. Jockeying for second place have been stocks and gold with the shiny metal edging out stocks by a score of 25% to 21%, respectively.
Successful long-term investors like Warren Buffett understand the best returns are earned by going against the grain. As Buffett said, "Be fearful when others are greedy and greedy when others are fearful," and we know stock investors are fearful. Along those same lines, Bill Miller, the man who beat the S&P 500 index for 15 consecutive years (1991 – 2005), believes now is a perfect time to buy stocks. Investing in real estate is not a bad idea in the context of a diversified portfolio, but investors should not forget the fallibility of tangibility.
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in certain exchange traded funds (ETFs) including SPY, but at the time of publishing, SCM had no direct position in Z, RWR, or any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Digesting Stock Gains
This article is an excerpt from a previously released Sidoxia Capital Management complementary newsletter (June 1, 2015). Subscribe on the right side of the page for the complete text.
Despite calls for "Sell in May, and go away," the stock market as measured by both the Dow Jones Industrial and S&P 500 indexes grinded out a +1% gain during the month of May. For the year, the picture looks much the same…the Dow is up around +1% and the S&P 500 +2%. After gorging on gains of +30% in 2013 and +11% in 2014, it comes as no surprise to me that the S&P 500 is taking time to digest the gains. After eating any large pleasurable meal, there's always a chance for some indigestion – just like last month. More specifically, the month of May ended as it did the previous six months…with a loss on the last trading day (-115 points). Providing some extra heartburn over the last 30 days were four separate 100+ point decline days. Realized fears of a Greek exit from the eurozone would no doubt have short-term traders reaching for some Tums antacid. Nevertheless, veteran investors understand this is par for the course, especially considering the outsized profits devoured in recent years.
The profits have been sweet, but not everyone has been at the table gobbling up the gains. And with success, always comes the skeptics, many of whom have been calling for a decline for years. This begs the question, "Are we in a stock bubble?" I think not.
Bubble Bites
Most asset bubbles are characterized by extreme investor/speculator euphoria. There are certainly small pockets of excitement percolating up in the stock market, but nothing like we experienced in the most recent burstings of the 2000 technology and 2006-07 housing bubbles. Yes, housing has steadily improved post the housing crash, but does this look like a housing bubble? (see New Home Sales chart)
Source: Dr. Ed's Blog
Another characteristic of a typical asset bubble is rabid buying. However, when it comes to the investor fund flows into the U.S. stock market, we are seeing the exact opposite…money is getting sucked out of stocks like a Hoover vacuum cleaner. Over the last eight or so years, there has been almost -$700 billion that has hemorrhaged out of domestic equity funds – actions tend to speak louder than words (see chart below):
Source: Investment Company Institute (ICI)
The shift to Exchange Traded Funds (ETFs) offered by the likes of iShares and Vanguard doesn't explain the exodus of cash because ETFs such as S&P 500 SPDR ETF (SPY) are suffering dramatically too. SPY has drained about -$17 billion alone over the last year and a half.
With money flooding out of these stock funds, how can stock prices move higher? Well, one short answer is that hundreds of billions of dollars in share buybacks and trillions in mergers and acquisitions activity (M&A) is contributing to the tide lifting all stock boats. Low interest rates and stimulative monetary policies by central banks around the globe are no doubt contributing to this positive trend. While the U.S. Federal Reserve has already begun reversing its loose monetary policies and has threatened to increase short-term interest rates, by any objective standard, interest rates should remain at very supportive levels relative to historical benchmarks.
Besides housing and fund flows data, there are other unbiased sentiment indicators that indicate investors have not become universally Pollyannaish. Take for example the weekly AAII Sentiment Survey, which shows 73% of investors are currently Bearish and/or Neutral – significantly higher than historical averages.
The Consumer Confidence dataset also shows that not everyone is wearing rose-colored glasses. Looking back over the last five decades, you can see the current readings are hovering around the historical averages – nowhere near the bubblicious 2000 peak (~50% below).
Source: Bespoke
Recession Reservations
Even if you're convinced there is no imminent stock market bubble bursting, many of the same skeptics (and others) feel we're on the verge of a recession – I've been writing about many of them since 2009. You could choke on an endless number of economic indicators, but on the common sense side of the economic equation, typically rising unemployment is a good barometer for any potentially looming recession. Here's the unemployment rate we're looking at now (with shaded periods indicating prior recessions):
As you can see, the recent 5.4% unemployment rate is still moving on a downward, positive trajectory. By most peoples' estimation, because this has been the slowest recovery since World War II, there is still plenty of labor slack in the market to keep hiring going.
An even better leading indicator for future recessions has been the slope of the yield curve. A yield curve plots interest rate yields of similar bonds across a range of periods (e.g., three-month bill, six-month bill, one-year bill, two-year note, five-year note, 10-year note and 30-year bond). Traditionally, as short-term interest rates move higher, this phenomenon tends to flatten the yield curve, and eventually inverts the yield curve (i.e., short-term interest rates are higher than long-term interest rates). Over the last few decades, when the yield curve became inverted, it was an excellent leading indicator of a pending recession (click here and select "Animate" to see amazing interactive yield curve graph). Fortunately for the bulls, there is no sign of an inverted yield curve – 30-year rates remain significantly higher than short-term rates (see chart below).
Stock market skeptics continue to rationalize the record high stock prices by pointing to the artificially induced Federal Reserve money printing buying binge. It is true that the buffet of gains is not sustainable at the same pace as has been experienced over the last six years. As we continue to move closer to full employment in this economic cycle, the rapid accumulated wealth will need to be digested at a more responsible rate. An unexpected Greek exit from the EU or spike in interest rates could cause a short-term stomach ache, but until many of the previously mentioned indicators reach dangerous levels, please pass the gravy.
Wade W. Slome, CFA, CFP®
Plan. Invest. Prosper.
DISCLOSURE: Sidoxia Capital Management (SCM) and some of its clients hold positions in SPY and other certain exchange traded funds (ETFs), but at the time of publishing, SCM had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.


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Joe Mauer Buys Minneapolis Lake House For $6.2M Weekend Plans With MiLB's Pat O'Conner Executive Transactions Names In The News Mark Cuban Slams Donald Trump On CBS Going Off The Grid: UFC Sale, "Pokemon Go" Executive Transactions Names In The News A Look At Cleveland Team Execs' Political Donations Minding My Business With MSFA's Michele Kelm-Helgen
Upcoming Conferences and Events
SBD/June 14, 2013/People and Pop Culture
Executive Transactions
Published June 14, 2013
EXECS: Coyotes VP/Hockey Operations & Assistant GM BRAD TRELIVING agreed to a multiyear contract extension (Coyotes)....The Int'l Motorsports Association and United SportsCar Racing announced a new senior leadership team and overall organizational structure, naming ED BENNETT CEO. Also comprising the team will be President & COO SCOTT ATHERTON, VP/Racing Operations RICHARD BUCK, VP/Competition & Technical Regulations SCOT ELKINS and VP/Marketing DAVID PETTIT (THE DAILY)....XOS Digital named SEC Digital Network GM BEN GODWIN President of Licensing (XOS Digital)....Rice Univ. AD RICK GREENSPAN will "leave the school effective June 30 to pursue other professional opportunities" (CHRON.com, 6/13)....The Univ. of the Pacific named DAN CHAPMAN Associate AD/Marketing & Media (Pacific).
Do you have an executive announcement? If so, please send to firstname.lastname@example.com.


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The pros and cons of choosing a financial advisor
While a financial advisor can provide some advantages, going it alone can save some money and give you more control over your financial future.
While a financial advisor can provide some advantages, going it alone can save some money and give you more control over your financial future.
While money contributed to an RRSP is taxable when withdrawn, contributions to a TFSA are made with after-tax dollars and are not subject to any further taxation. As a result, every dollar in a TFSA will be earning tax-free interest.
Anyone who has followed the economic headlines in recent years has heard plenty of concern being raised over Canada's burgeoning debt-to-income ratio. For many, the figure is alarming, yet they don't know what their own debt-to-income ratio actually is. But don't worry if you find yourself in that majority, since even economists differ on what it really should be.
Investing can be risky, but diversification can help make your portfolio immune to the effects of economic cycles. Investing can be risky. It's an indisputable fact that any investor must face when deciding what to do with their hard-earned wealth. But Martin Lefebvre says taking smart risks can bring rewards, if you understand what's involved. "The first thing is to know your own true risk tolerance," says Mr. Lefebvre, vice-president, chief investment officer and strategist at National Bank Private Banking 1859.
In the wake of several well-publicized frauds, investors should be asking their financial advisors the really tough - and uncomfortable - questions.
Analyst recommendations should be used in tangent with proprietary research and investment methodologies in order to make solid investment decisions.
The European Central Bank said it will start its new government bond-buying program of 60 billion Euros a month on March 9 and raised its economic growth forecast for 2015 to 1.5%. It also boosted its 2017 inflation forecast to 1.8% from about 0% currently.
A new survey reveals that 37% of Canadians with investable assets of more than $1 million have not bothered to draft a will.
If you are working for a company that offers a Group RRSP, chances are that the plan is worth looking into. Essentially, a Group RRSP is a fund set up by an employer which is comprised of the individual RRSPs of contributing employees. Participation in a Group RRSP is generally optional and contributions are made through regular payroll deductions.
On June 22, National Bank will offer clients access to the world of responsible investment with the launch of its new guaranteed investment certificate (GIC), the Socially Responsible GIC – Canadian Market. This tangibly demonstrates the Bank's commitment to social responsibility and its desire to allow all investors to act on their environmental, social and governance (ESG) concerns. This GIC is a brand new way to make equitable investments, without compromising on returns!


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View 147: On the Starting Line
For the second year running, I covered the Apple Run events at the LaFayette Apple Festival in LaFayette, New York. The three races consist of a 1 Mile Fun Run for families and a 5K and 15K road … Continue reading
Posted in People, Sports, Weekly View Tagged 28-300mm, 5K, 70-200mm, apple festival, children, exercise, lafayette, legs, men, new york, nikon D700, Photography, race, run, running, shoes, sneakers, starting line, vr, women 19 Comments