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If these guys think that they can still meet their earlier estimates for 2007 and 2008, then I want some of whatever they are smoking!

The media seems to have traded in attention to the iPhone for the 14000 mark on the Dow. Both are hype. Euphoria in the market is about to face the impact of Intel and Yahoo numbers as well as the sub prime. All this is a recipe for trouble. Just watch the media turn on a dime.

The New York Times is reporting and Business 2.0, the venerable chronicler of the Internet and technology may be shut down soon. I don't think it will happen.

Even before the phone went on sale, there were a host of companies developing accessories for the iPhone. It is obvious that there will be a large array of such things in the near future. The iPhone will generate its own economy with products developed around the globe. There are now some very specific ones and many others that will follow -- some still unimagined and ripe for the entrepreneur.

Now the very rich can feel very happy on their way to the club, driving the new Lexus hybrid and satisfied that they are doing their part to reduce carbon emissions. Think again guys. Lexus is fooling you and You are fooling yourselves.

Retail sales were down big-time, far below expectations. Oil continues to rise, and will soon be at 80 or more a barrel. Everyone knows the impact of sub prime mortgage problems will really hit the economy and take a significant bite out of it. AND this week, the markets made huge gains and reached new highs. Is there something wrong about this story?

The CNBC crowd knows nothing.

Congress, looking for sources of revenue, happened upon an extraordinary loophole enjoyed by the extraordinarily rich private equity and hedge fund managers, effectively allowing these managers to pay taxes on their earnings at a 15% rate. Pretty nice for people making hundreds of millions a year. While this looks like a simple fix, long overdue, there isn’t much support for it in Congress – on either side of the aisle!

The markets here, abroad, and far abroad are on fire. The good times are here, and we can all participate. Just jump in, buy any stock, and your dreams will be fulfilled. Ask anyone. And, if you don’t ask, they will tell you anyway. The time is here when the clerk at Target, the gym coach at school, the aunt in Cleveland are all passing on tips too good to ignore. It is the time when you say “I can’t stand it any longer,� and jump in. Yesterday, the case was made even more compelling when Ben Stein, sitting comfortably in Frankfurt, Germany offered his list of must-have stocks and opined that “… in 10 years, you’ll regret it if you don’t buy in July 2007.�

Many individuals I've spoken with think that options are risky financial instruments. Depending on how they are used, they can be risky. But they can also be a wonderful way to control risk and profit in various kinds of market conditions. Here's some insight into the how and why. I look forward to your comments.

Three of the attempted suicide bombers from the recent Glasgow and London events were doctors.

At your July 4 party, ask why most American colonial paper currency made reference to its valuation in Spanish pesos.

Assessment from a New IPhone owner.

I have been silently calculating my financial health by including the money (even though it isn't much) my parents will be leaving me when they die. I know it is an unseemly thought, but face it -- many of us do this. It is certainly not something one talks about, but it is also stupid.

It is hard to think of investing these days without looking abroad for some part of your investments. And, the one place that seems absolutely hot is China. Of course, it is risky too, what with all the manufacturing issues recently. But, it is just bursting with growth and opportunity. I have found one holding that has worked for me. It's an ETF (exchange traded fund) on the New York Stock Exchange.