Q2 2012...

Where we're at:

DJIA: 12,822.57
s&p: 1362.66
10 yr: 1.46%
s&p P/E: 21.89
VIX: 16.27

equity: 31
bonds: 33
cash: 35

1yr: 2.1%

The TXT earnings call was this week (19).  TXT had a good quarter overall, including CSNA.  An increase in jet deliveries bumped up earnings and profits vs 2011.  Still, the call was cautious, the analysts seemed to be baiting the leadership to increase guidance, but there was nothing doing.  It seems prudent given the state of the world economy now.  There was also a lot of discussion towards the end about HBC and whether TXT had in interest.    Some of the TXT message boards seem comical.  The comments complain about the dividend.  It appears that these people aren't paying attention.  HELLO, TXT has a number of R&D and new programs ramping up simultaneously.  The company is not going to raise the dividend AND rollout 3 new airplanes. 

Spouse took two trips this month (Boston and Mexico City), she crushed it in June.  But July will be a down month because she has been gone.  I had my mid-year review, it went ok.  I guess since I didn't get canned in June, does it really matter?  The offshore team seems to be slacking off since 4 of them were cut, not sure they have much interest in our work anymore.  Looking forward to vacation...