We had a great deal of exposure to China last year but we've been reducing it mainly due to value not being there at the moment.

Right now it's wonderful to celebrate good earnings growth in the first quarter and nice growth in the second quarter, but it's going to get a heck of a lot harder in the third and fourth quarters.

I was hoping that there would be a dividend boost. But the company did just put it into place, so maybe the hopes were overly optimistic.

The stocks are not cheap anymore but there aren't many alternatives out there. Good opportunities are hard to find in this market.

In spite of clear budgetary constraints, there hasn't been any attempt to reign in defense spending.

A lot of the higher profile names were too expensive for us to begin with. But if you take a long-term view of China, it's a great place to be. We do own some stocks there that are still reasonably good buys.

It's the single biggest issue out there for the stock market, yet most investors have their heads in the sand. We're talking about $100 a month families won't be spending at malls, movie theaters, and restaurants.

The revenue numbers looked really impressive. There were concerns out there about how Microsoft would grow the top line.

I don't see Microsoft ever being considered a high-growth company again.