On March 20th, the S&P 500 Index rose 2.30%, while gold futures dropped -2.5%. Such big disparate moves hardly ever happen in isolation, let alone at the same time. When viewed against the annals of market history, the moves are an anomaly.

As such, they're worth noting - and further study. And that got me wondering.

How often have such moves happened in the past? And, more importantly, are the markets likely to demonstrate a bullish or bearish bias after they happen?

According to Logical Information Machines (www.lim.com), a company that tallies and analyzes this sort of thing, there have been 23 prior occurrences of the S&P 500 rising more than 1% on the same day gold futures dropped by more than 2.5% (omitting repeat occurrences within 10 days).

One hundred percent of the time - or 23 out of 23 occurrences if you'd prefer to think about it that way - the S&P 500 has shown a distinct bullish bias that peaks 100 trading days after the "event."

How bullish?

LIM data suggests that the index's average overall return during that timeframe has been 11.6%. Based on the March 20th close of 1329.51, that indicates an S&P 500 price target that could be as high as 1483.73 by August 12, 2008.

We'll take that with a big grain of salt, as we're sure you also will. But at the same time, we'll note that the two most recent occurrences prior to March 20, 2008 for this very bullish set up were 1/17/91 and 3/13/03 - dates which, if you look back through your market history books, preceded two of the strongest bull runs in recent memory.

The bottom line is that while we can make the case that the markets will go either way in the next 100 days based on any number of factors, the data suggests the possibility of a move we don't want to miss.

After all, as we say so often:

"It's not the market timing that matters%u2026 it's the time in the markets that's critical."

NEW YORK: US financier Warren Buffett has overtaken Bill Gates as the world's richest man, according to Forbes annual billionaire's list, which this year saw Russia, China and India making increasing inroads.

Buffett, the 77-year-old chief of the Berkshire Hathaway holding company, saw his wealth jump from 52 billion dollars last year to 62 billion, pushing Microsoft co-founder Gates into third position after 13 years at the top.

Mexico's telecom mogul Carlos Slim Helu grabbed second place with a tidy nest egg of 60 billion dollars, up from 49 billion last year.

Buffett, who announced in 2006 he was giving the majority of his fortune to the Bill & Melinda Gates Foundation, saw his wealth spike mostly due to the rising value of his Berkshire Hathaway stock.

In total, this year's list sees 1,125 people around the world making the billionaire's list, up from 946 last year. Their total net worth stands at 4.4 trillion dollars, up from 3.5 trillion dollars in 2007.

By nationality, the United States still easily led the rankings with 469 billionaires up from 415 last year, but Russia replaced Germany as the second placed country with 87 billionaires.

Third-placed India saw the number of its super-rich jump to 53 entries on the list - four of them in the top 10 - although China and Hong Kong if taken together would overtake it, with 42 and 26 billionaires respectively.

Japan, although still the second largest economy in the world, saw its number of billionaires trailing at 24 - overtaken by Turkey, which this year saw its number of mega-tycoons on the list jump from 22 in 2007 to 35.

Oil prices above $100 per barrel have made the headlines recently, and investment advisors have competed with each other in recommending oil investments.
But here's some inside insight from the shrewdest investing pros: The true energy play is an energy source whose price has risen more than oil in the last year, and which is located primarily in politically stable, friendly countries
I'm talking, of course, about that miracle fuel of the 19th Century - coal, the forgotten fossil fuel.
As picturesque as it sounds, I'm not suggesting that if oil runs out by 2050, we'll be chugging to work in coal wagons - frantically shoveling the black rocks into the firebox trying to build up some steam for the passing lane on the freeway.
No, if oil runs out we'll undoubtedly putter to work in a wheeled vehicle that contains a bunch of batteries and something called a "fuel cell" - but the power stations that recharge those batteries will be fueled primarily by coal.
Coal prices have zoomed northward during the past year. The current spot price is around $135 per metric ton

The main reason for coal's growth is that 80% of China's power needs and 65% of India's come from coal-fired stations. Other alternatives are not big enough to supply their rapidly growing economies. Nuclear power offers its own safety dangers, and nuclear power stations take an extremely long time to construct, while solar power is hopelessly short of the scale needed.
Since both India and China are expected to quadruple their power consumption by 2030, most of that increase must come from coal-fired stations. With modern clean coal technology, the new plants' environmental impact can be lessened, but no reasonable carbon pricing will significantly slow the rapid rise of coal usage.
That's good news for coal. While oil supplies depend on the whims of governments not necessarily friendly to the United States, coal is abundantly available in countries with a healthy respect for private property, with the United States, China, India and Australia being the top four producers.
The bottom line: Who needs oil companies, with all their political risk and the accompanying market volatility?
The real "black gold" is coal.

A few months back , many were saying Indian markets are expensive. The SENSEX was then at 15000 levels.
In no time SENSEX did 30% from those levels and crossed 20000 for a short while and then started a downward journey on account of global fears , now trading around 8% lower from the peak at 18750 levels.

The PE for the SENSEX should be now around 23 times now ( I have not calculated the exact value).
Mostly all the SENSEX stocks are bound to grow at least 25-30% cumulative for next 3 years , be it likes of Reliance , Tatas , Birlas or slowing IT.

This surely will take the SENSEX EPS to 1600 - 1800 range ( App 900 now *1.25*1.25*1.25)

Taking a low PE of 20, SENSEX should at least see 32000 mark. Taking a higher PE of 23 times on a higher growth and higher EPS target, SENSEX should see 41000 mark. This target is for next 3 years.

Hence it is important to diversify portfolio from Dream stocks to real growth and consistent performing stocks.

The world's largest governments are drastically changing the way they buy and sell oil. And it could affect every family, small business and multibillion-dollar corporation across the globe

Rapid economic expansion in Russia, India and, most importantly, China, has led the governments in these countries to review their traditional sources of oil, and to make substantial changes in the way they get it ,"locking up" supplies by purchasing crude from oil-producing countries directly - behind closed doors:

1)Angola committed to supply China with 200,000 barrels per day of crude at $60/barrel for the next 10 years, in return for Chinese investment in infrastructure projects such as railroads, roads and bridges.

2)India already imports about 24 million tons of crude from Saudi Arabia every year, which is 26% of its total crude imports. It has stated a desire to secure long-term contracts to assure delivery in the future.

3)Russia, India and China are involved in efforts to build and control petroleum pipelines throughout the central-Asian and Middle Eastern regions.

This strategy is coming to be known as "Energy Mercantilism." Producers - and consumers - are bypassing the marketplace altogether. And it's taking massive quantities of oil off the open market.

Now, the crude oil market's forecast is wide open. The free markets that have historically determined the pricing and allocation of oil are in sudden danger of extinction.

State-Run Oil Will Dominate the World Energy Market...

In the past, the world has relied on an open marketplace to set the price of energy. For decades, the NYMEX has been the epicenter of energy trade.
But China and India, in cooperation with a key supplier, Russia, have turned the tables by making bi-lateral agreements to lock in long-term supplies at set prices, or by forming consortiums to guarantee supply.

And These "Private" Oil Deals Are Beginning To Roll in

The fact is, 90% of world reserves are controlled by national oil companies, as opposed to market-driven public companies.
Exxon Mobil (NYSE: XOM), for example, is the largest publicly traded oil company. And it ranks only 14th in proven reserves, directly below 13 national oil companies, including those of Iran, Venezuela, and other governments overtly unfriendly to the U.S.

Conclusion on Crude Oil and the NYMEX

The fact is, more and more oil buyers and sellers are hooking up directly, outside of the marketplace. And in many cases, they're including other "payments" into the transactions - direct investment, infrastructure development, political favors, trade agreements, etc.
And therein lies the uncertainty. How does one know if he's paying the going rate for oil when a going rate doesn't exist?

There was a one hour interview on CNBC with Warren Buffet, the second
richest man who has donated $31 billion to charity. Here are some very
interesting aspects of his life:

1.) He bought his first share at age 11 and he now regrets that he
started too late!

2.) He bought a small farm at age 14 with savings from delivering
newspapers.

3.) He still lives in the same small 3 bedroom house in mid-town Omaha,
that he bought after he got married 50 years ago. He says that he has
everything he needs in that house. His house does not have a wall or a
fence.

4.) He drives his own car everywhere and does not have a driver or
security people around him.

5.) He never travels by private jet, although he owns the world's
largest private jet company.

6.) His company, Berkshire Hathaway, owns 63 companies. He writes only
one letter each year to the CEOs of these companies, giving them goals
for the year. He never holds meetings or calls them on a regular basis.

7.) He has given his CEO's only two rules. Rule number 1: do not lose
any of your share holder's money. Rule number 2: Do not forget rule
number 1.

8.) He does not socialize with the high society crowd. His past time
after he gets home is to make himself some pop corn and watch television.

9.) Bill Gates, the world's richest man met him for the first time only
5 years ago. Bill Gates did not think he had anything in common with
Warren Buffet. So he had scheduled his meeting only for half hour. But
when Gates met him, the meeting lasted for ten hours and Bill Gates
became a devotee of Warren Buffet.

10.) Warren Buffet does not carry a cell phone, nor has a computer on
his desk.

11.) His advice to young people: Stay away from credit cards and invest
in yourself.

Buffett has modified Graham's philosophy%u2026

He added some questions beyond share price vs. intrinsic value computations. These questions are summarized below, and any investor should be able to answer them before buying shares in any firm. This list was prepared by Warren's ex-daughter-in-law, Mary Buffett, for her excellent book Buffettology.

1.Is the company in an industry with good economics, i.e., not an industry competing on price? Does the company have a consumer monopoly or brand name that commands loyalty? Can anyone with an abundance of resources compete successfully with the company?

2.Are the Owner Earnings on an upward trend with good and consistent margins?

3.Is the debt-to-equity ratio low, or is the earnings-to-debt ratio high, i.e. can the company repay debt even in years when earnings are lower than average?

4.Does the company have high and consistent returns on invested capital?

5.Does the company retain earnings for growth?

6.The business should not have high maintenance cost of operations, high capital expenditure or investment cash outflow. This is not the same as investing to expand capacity.

7.Does the company reinvest earnings in good business opportunities? Does management have a good track record of profiting from these investments?

8.Is the company free to adjust prices for inflation?

Warren Buffett also concentrates when he buys. For its size, Buffet's portfolio has few stocks. To make additions to the portfolio, he will wait years for a market correction. But once a downturn comes, he will buy millions of shares of solid businesses at reasonable prices.