“The concern is that they are getting a bit pricey. But as long as the takeover phenomenon continues . . . it will extend the cycle”

Mid-cap stocks have come into their own in recent months, outperforming both large- and small-cap shares.

‘What’s driving it? The takeovers,’ said Chuck McQuaid, chief investment officer of Columbia Wanger Asset Management. ‘The lights are all green.’

McQuaid, the lead portfolio manager of the Columbia Acorn Fund, said 26 companies within the fund were taken over last year, ‘clearly a record,’ and so far this year, takeovers already total 13, ‘twice the annualized rate.’

‘Private capital is still flush with cash, and banks are still willing to lend’ to finance the deals, he said. ‘As long as that continues, the trend is going to continue to run its course.’ Read more

Original post by Chicago Tribune

Warren Buffett’s Berkshire Hathaway Inc. bought a 10.9 percent stake in Burlington Northern Santa Fe Corp. via The Dallas Morning News

Original post by The Dallas Morning News

“For many years, [Parish] was the only game in town”

Grand Strand business leaders likely will have to find a new source for economic forecasting after their usual go-to expert, Al Parish of Charleston, was charged this week with securities fraud related to his investment company.

Parish, 49, known for his loud suits and extravagant tastes, said he had amnesia and checked into a Charleston hospital after federal investigators contacted him about $134 million they discovered missing from five investment pools he managed, according to court documents. Read more

Original post by Myrtle Beach Online

“The market went up on fumes this week”

‘The market went up on fumes this week.’

Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher

Cerner Corp. closed out a holiday-shortened week with another record high Thursday despite its shares being downgraded by a research firm.

The North Kansas City-based health-care information software company’s shares reached a record at $57.38, topping Wednesday’s high of $56.77. Cerner closed at $56.82, up 52 cents.

Cerner extended a run of record highs after Jefferies & Co. downgraded shares from ‘buy’ to ‘hold’ while maintaining a target price of $56. Read more

Original post by Kansas City Star