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I knew I shouldn’t have turned on CNN in the hotel. I go away for a week and it’s 1997 again!

I don’t feel like posting any more articles from the “buy-and-holders“, although I remain one. So how about some commentary from John Hussman, whose fund HSGFX is actually even for the year. I don’t own this fund and am not saying he’s always right, but I think he does a good job of laying out the reasons for his conclusions.

His November 17th weekly commentary is long, but worth the read. Some excerpts:

Our activity as investors is not to try to identify tops and bottoms – it is to constantly align our exposure to risk in proportion to the return that we can expect from that risk, given prevailing evidence.

As for extreme and less likely benchmarks, the 780 level on the S&P 500 would represent a 50% loss from the market’s peak, and would put the market in the lowest 20% of all historical valuations. I would expect heavy demand from value-conscious investors about that level if the market were to decline further, and a decline below that level could be expected to reverse back toward 780 fairly quickly. Further down, but very unlikely at this point from my perspective, the 700 level on the S&P 500 would represent the lowest 10% of historical valuations, 625 would put the market in the lowest 5% of valuations, and anywhere at 600 or below would put the market in the lowest 1% of historical valuations. I don’t expect to see such a level, but there it is. Note that these estimates are unaffected by how low earnings might go next quarter or next year. Stocks are not a claim on next quarter’s or next year’s earnings – they are a claim on an indefinite stream of future cash flows.

As a side note, do your best to filter out comments like “investors are moving out of stocks and into …” or “investors are selling into this decline” or “investors are buying into this rally.” On balance, investors do not sell shares, and they don’t buy shares. Every share purchased is a share sold. The only question is what price movement is required to prompt a buyer and a seller to trade with each other. No money will come off the sidelines into stocks. No money will come out of stocks and onto the sidelines. All such talk is non-equilibrium idiocy. Keep in mind that the “market” consists of different traders with a variety of time-horizons, risk-tolerances, and analytical methods (e.g. technical, report-driven, value-conscious). It is helpful to think in terms of which group of individuals is likely to do what, and when. It is equally important to know which group of investors you belong to. As the old saying goes, if you’re at a poker table and you don’t know who the patsy is, you’re the patsy.

Here’s my attempt at a quick summary: While the present looks bleak, the potential for future returns is looking brighter and brighter for long-term investors. The opposite was true a few years ago. If you’re young and still putting money away, this is a good thing! (Although adequate emergency funds should be your first goal.)

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Amazon Customer Vote is back! In case you missed it last year here are the highlights. Amazon will offer 3 deal for a vote in 6 rounds. The deal that gets the most votes in each round will be offered for sale at discount in a limited quantity. The other 2 deals will also be for sale but the discount will not be as good.

After you vote, check your email box the day before the round that has your deal. If you are lucky you will be notified and will have a chance to buy the discounted product. The rules emphasize that the sale is a race and that there will be more buyers than products available, so show up early if you don’t want to miss your deals.

Unlike the last year, you can buy any of the three deals and not just the one you voted for. I am not sure if the chances to be selected depend on your vote, and the rules don’t say anything.

Here is the deals offered for a vote and the percentage of votes they collected at the time I cast my own votes (in the parenthesis):

Round 1 - November 28

PS3 Blu-ray Sci-Fi Bundle for $199.00 (21%)
PS3 Blu-ray Action Bundle for $229.00 (28%)
PS3 Blu-ray Family Bundle for $199.00 (53%)

Round 2 - November 29

Eyeclops night vision for $39.00 (56%)
U-Dance for $35.00 (19%)
Razor PowerWing Caster Scooter for $49.00 (26%)

Round 3 - December 1

Samsung 46-Inch 1080p HDTV for $699.00 (63%)
Samsung TL34HD 14.7MP Camera for $139.00 (9%)
Sony Blu-ray Disc Player for $99.00 (29%)

Round 4 - December 2

Nokia N95-3 (Unlocked) for $199.00 (11%)
ASUS Eee PC 900 8.9-Inch Netebook for $129.00 (76%)
Flip Video Ultra Series Camcorder, 60-Minutes for $49.00 (14%)

Round 5 - December 3

Navigon 8100T for $299.00 (27%)
TomTom GO 730T for $245.00 (68%)
GolfLogix GPS by Garmin for $149.00 (7%)

Round 6 - December 4

The Sopranos - The Complete Series for $130.00 (15%)
The Tales of Beedle the Bard, Collector’s Edition for $50.00 (7%)
KitchenAid Professional Stand Mixer for $69.00 (79%)

One deal I am especially excited about is the the ASUS Eee laptop. This particular model usually sells for 3 times the price! The deal I wouldn’t be worried about not getting is the TV. I am sure the prices will keep falling after Christmas and already now you can find very good deals on large LCD HDTV’s like this 42” Panasonic for $599.

Are you planning to participate? Which deal do you think is the hottest?

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The annual auto shows are usually an opportunity for the world's carmakers to put on the ritz, but these are straitened times. I've seen carmakers set up indoor off-road courses and let thrill-crazed journalists romp through them in mud-splattered Jeeps, but this was not one of those years.

Ford's Fusion Hybrid: a car of the future.

General Motors, whose CEO was in Washington begging for a $25 billion bailout, decided that it would not, after all, introduce its new Buick LaCrosse and Cadillac CTS Coupe at this week's Los Angeles Auto Show. GM is burning through $2 billion in cash a month, and could run out of money early next year. Its sales declined 45 percent in October.

Chrysler, also burning through billions, declined to showcase any new models in Los Angeles or hold the usual gala press conferences.

Ford, with sales down 18 percent this year, could afford to debut new models because it just earned $540 million selling the lion's share of its stake in Mazda. The 2010 Mustang may get the headlines, but probably more important to the future of the company are a pair of hybrid sedans, the Ford Fusion and Mercury Milan.

The Fusion looks like quite a credible entry. It can reach 47 mph on its nickel-metal-hydride battery pack alone, after which a 2.5-liter, 155-horsepower four (coupled with a CVT transmission) kicks in. It has a 700-mile range, and an estimated overall 38 mpg.

Making a keynote address in Los Angeles, Nissan/Renault boss Carlos Ghosn made it clear that, to save itself, the auto industry needs to go electric. "The one thing that is certain is that people will continue to drive cars," he said. "But what kind of cars?"

Nissan is answering that question with a still somewhat mysterious battery car that is scheduled to be on the U.S. and Japanese markets by 2010. Ghosn predicted there would be 10 million EVs in the world by 2016, and the U.S. will have five million of them.

Ghosn said the planet's health depends on zero-emission EVs. China, he said, has 50 cars for every 1,000 people, compared to 800 per thousand in the U.S. "We will need another planet if China catches up to the U.S.," Ghosn said. "If the rest of the world then catches up to China and the U.S. we're going to need 11 planets."

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New GPS navigation devices and ratings The countdown to Black Friday and the holidays is on. The GPS team has watched the calendar closely, as we have felt the pressure to test and rate the latest automotive GPS units that went on sale late summer and early fall. There are a lot of new products now on store shelves, and we have updated our comprehensive Ratings and recommendations to help you make an informed purchase decision. The latest Rated navigators include: Alpine PND-K3 – This new unit is a pleasant surprise, marking a significant improvement over past-tested Alpine units and boasting attractive graphics. Garmin Nuvi 265WT and 500 – Part of the latest 2x5 generation, the widescreen Nuvi 265WT features free real-time traffic. A dual-purpose, the Nuvi 500 unit combines traditional Nuvi car navigation with the ability to serve hiking and geocaching duties, as well. Mio Knight Rider – We couldn’t resist testing this nostalgic homage to the 1980s television show. And yes, it does use the original K.I.T.T. voice. Navigon 2000S, 2200T, and 7200T – An all-new Navigon line sees notable improvements, including easier address entry and quicker calculation times. “T” models include free real-time traffic. Sony Nav-U NV-U44, NV-U74T, and NV94T – Ranging from basic to 4.8-inch premium, the new Sony navigators are quicker than previous models for route calculation and moving through menus. In addition to car navigators, we have also recently posted handheld hiking GPS buying advice and ratings. The road ahead The GPS team has been busy, but we’re not done yet. The handheld hiking GPS buying advice and ratings will go live in a couple days. (View our hiking GPS video.) Plus, we are already at work on the next update, targeting early December for providing ratings on more recently introduced automotive navigators. Check out our redesigned GPS special section. It has pages of buying advice, including information on in-car navigation and cell-phone navigation. Be sure to use the slick, new product selector (available to online subscribers). This dynamic tool lets you sort and filter ratings by the features that matter most to you, and it even includes information on units in testing. —Jeff Bartlett For more information on portable automotive GPS navigation systems, see our Ratings and buying advice and watch our video guide. Discuss GPS devices in the forums.  Subscribe now! Subscribe to ConsumerReports.org for expert Ratings, buying advice and reliability on hundreds of products. Update your feed preferences

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"Deep-fry" your turkey without oil Deep-frying turkeys has become more popular in recent years. Unfortunately, the delectable results deep-frying your holiday bird can produce come with some significant risks, as we reported in "A Safer Way to Fry a Turkey." Watch our video (right) for more information on deep-frying turkeys if you're planning to make this cooking method part of your Thanksgiving tradition. Having seen the rising sales of gas-fueled turkey fryers, manufacturers are introducing electric models as well as appliances that cook turkeys without all that oil. As part of our June 2008 report on gas grills, we tested the Orion Cooker, $139, and the Char-Broil Big Easy Infrared Turkey Fryer, $129, which allow you to cook whole turkeys, chickens, and roasts. The charcoal-fueled Orion cooks using a combination of convection and steam; you can also smoke food. The Char-Broil is powered by propane and cooks using infrared heat. Read our latest review of gas grills for more details on these cookers. Essential information: Read "Tip of the Day: Time- and Money-Saving Steps for a Better Thanksgiving" for expert advice on making November 27 a hassle-free holiday. Subscribe now! Subscribe to ConsumerReports.org for expert Ratings, buying advice and reliability on hundreds of products. Update your feed preferences

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By Nora Dunn

More and more couples are deciding that having a family is not for them (others yet waiting longer to take the plunge), many citing their finances and a higher cost of living as a reason. While I believe that those who really want kids will always find a way to afford it, there may be some truth to this premise. Don’t "kid" yourself: children are expensive and can financially ruin those who aren’t prepared for all the expenses – both obvious and otherwise.

Here are some financial considerations to plan and account for prior to sprouting your own little guys.

Taking Initial Time Off Work

Although I know of some parents who managed to take little more than a long weekend to pop out their progeny before returning to work, the norm (and preference, thank goodness) still is to take some time off to acclimatize baby to their new world, and adjust to the parenthood lifestyle.

But these days mum isn’t the only one with the option of taking time off; many workplaces respect paternity leave. So between the two of you, who will take time off from work, or how will you divide your respective absences? Whose income is higher or occupation requires more attention? Do you have the option of paid leave, or must you take an unpaid leave of absence? How good is your job security and ability to return to work after your leave?

For those who are self-employed, you will be relegated to an unpaid leave and possible loss of business…or else going back to work right away. Don’t fool yourself: you will not be able to bounce your baby on one knee and office work on the other; new parents are always amazed at how completely occupying their baby can be.

Financial Planning Points for Taking Initial Time Off Work

• Determine who is taking time off, and for how long
• Save for an unpaid leave of absence, if necessary
• If you have a reduced paid absence, save up the extra funds required
• Save for any absence (and prepare your business) if self-employed

Budgeting for Baby – And Beyond

In addition to all the wonderful baby expenses like food, diapers, toys, clothing, and so on, you may have to consider paying for all this – and your regular expenses – on one income. Many mums (or dads) choose to stay home with the baby for longer than the prescribed leave calls for, often until the kids start school. And if you plan to have more than one child, this can amount to a lot of years.

Financial Planning Points for Budgeting for Baby – and Beyond

• Save into a contingency fund in case you want to take more time off to be with baby (and yes – this means you!)
• Budget for the monthly and ongoing expenses of having a new member in the household (once you have an idea of what the budget will be, save the extra money you will be spending on baby stuff, or use it to pay down the mortgage – see below)
• Ideally take care of all debts before having children so no obligations hang over your head and eat into your budget
• Ensure your mortgage is manageable even if the interest rates increase at renewal. Consider making extra payments before the baby arrives

Retirement Planning

Planning for retirement tends to take a back seat during initial paren