Just One Man's Opinion - 11 July 2005

by JMac

STOCK TIP - Screen DeVry - a growing private university.

MUSINGS - With Congress about to begin hearings on the proposed sale of UNOCAL to the Chinese oil company CNOOC, will the hedgies go short on the rival bidder Chevron/Texaco and long on UNOCAL? And, if they do, will it drive up UNOCAL'S price and cause Chevron to pull out? And, if they do, will the Justice Dept. allow Exxon, or T. Boone Pickens to scoop UNOCAL up to keep it out of the hands of the Chinese? Today, refining capacity is more important than proven reserves.

POLITICS AND THE MARKET - In the next 6-10 months President Bush will be able to affect the financial markets in a way not seen since the New Deal. He will nominate one, and possbly three, new Supreme Court justices and a Chief Justice (hopefuly pro-business, libertarian Anton Scalia). In addition, he will appoint the second most powerful man on the planet- a new Fed chairman.

C'mon George, forget about the Ten Commandments and flag burning..."the business of America is business" - Calvin Coolidge

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