For the first time ever, in 2016 natural gas generated power in the U.S. exceeded coal generation as reported at energyfactor.exxonmobil.com. The Stonewall power plant in Loudoun County, Virginia, represents another step in the power industry’s march towards natural gas and away from coal – a transition that has reshaped how Americans get electricity. The 778 megawatt natural gas-fired power plant on the outskirts of Washington D.C. is scheduled to go live in 2017 and is expected to generate electricity for nearly 780,000 homes. The facility is owned by Panda Power Funds, a Dallas, … [Read more...]
Archives for January 2017
To Me There Isn’t a Better Way to Live
Over the Christmas break we were up in Bartlett, NH skiing where, in between time on the slopes, I read the book Tracking the Wild Coomba by Robert Cocuzzo about the life of the late “frontier” skier Doug Coombs. I say “frontier” because Coombs hated the word “extreme.” To him, that meant risk, and he spent his career teaching his ski clients how to reduce risk in their craft. Coombs first experienced big mountain skiing at Mt. Washington’s Tuckerman Ravine, not far from our cabin. He would spend weekends camping at the base, working his craft each day. From there he went to Montana State … [Read more...]
China Just Delivered a Devastating Blow to Speculators
China just hammered speculators with a surprise strengthening of the yuan. The yuan made its biggest-ever two-day move. China has been burning through currency reserves in an effort to keep the yuan from depreciating too rapidly. The surprise strengthening is a new tactic likely intended to drive speculators out of the currency and to strengthen China's hand in currency markets. The Financial Times has more of the details: China’s renminbi has made its biggest-ever two-day gain as strong data and shrinking liquidity offshore wrongfooted China bears and helped push the dollar lower around … [Read more...]
This is What Happens When Samsung Teams Up With Google
Want a peak at "the future of laptops?" Wired brings readers the breaking news. Now that Chrome OS users can get the millions of apps in Google’s Play Store, tech firms are developing entirely new kinds of devices for the platform. After months of speculation, rumors, and delays—which may have had something to do with the Note 7 battery scandal—Samsung announced the new Chrome book Plus and Chromebook Pro today at CES. Chromebooks have made huge inroads in schools and are increasingly popular enterprise devices. Acer’s new Chromebook 11 N7 is basically indestructible. But Samsung offers … [Read more...]
Is This Your Final Chance to Make Money in Stocks?
The late great investment manager, Sir John Templeton once said "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." Euphoria is the final and most dangerous stage of the bull market. This is when the investing public moves all in on stocks. Has the bull market entered euphoria territory? It would seem that way. Investor sentiment has surged since the election. Our chart shows the spread between the percentage of respondents to the Conference Board's consumer confidence survey who think stocks will be higher in twelve months and those who believe … [Read more...]
Can the Swiss Defy the Frightening New Anti-Cash Trend?
Governments around the world claim moving toward a cashless society aids in tracking potential fraud through a switch to electronic payments. The Wall Street Journal lays out Swiss opposition to the global trend. I share the Swiss aversion to an electronic payments system where the government would instantly have an open window to your financial transactions. The Swiss love cash, and use it regularly to pay for purchases large and small—monthly utility bills can be paid in cash at post offices. Their affinity shows no sign of abating, and flies in the face of a global trend toward cashless … [Read more...]
Hedge Funds turn Frugal after Years Long Crisis Nightmare
After years of playing the markets like casinos, hedge funds are facing pressure from clients to avoid risk. After a number of recent failures (read here, here and here), this pressure has increased. This pressure hasn't gone over well with some managers who are fighting back, while others are accommodating their new clients. Laurence Fletcher writes at The Wall Street Journal. An industry once known for maverick traders and huge profits—from George Soros’s $1 billion profit betting against the pound in 1992 to John Paulson’s $15 billion profit from U.S. subprime mortgages—faces a … [Read more...]
Are Americans Making a Big Mistake with Their Savings?
Regardless of the savings vehicle being used, Americans simply aren't saving enough for retirement. The Wall Street Journal reports: Financial experts recommend people amass at least eight times their annual salary to retire. All income levels are falling short. For people ages 50 to 64, the bottom half of earners have a median income of $32,000 and retirement assets of $25,000, according to an analysis of federal data by the New School’s Schwartz Center for Economic Policy Analysis in New York. The middle 40% earn $97,000 and have saved $121,000, while the top 10% make $251,000 and have … [Read more...]
These are 2 of the Best Ways to Boost American Business
The Cato Institute’s Dan Mitchell offers a menu of repeals and reforms he hopes Donald Trump can bring about. Here are two I especially like. Reform of healthcare entitlements - Republicans in 2017 will control Congress and the White House, so they'll have the power to fix our broken entitlement system and dramatically improve America's long-run outlook. And since the House and Senate GOPers have voted for budgets that presume much-need structural changes to Medicare and Medicaid, that bodes well for reform. The wild card is Donald Trump. He said some rather irresponsible things about … [Read more...]
Should you Invest in Last Year’s Best Performing Mutual Funds?
According to Mark Hulbert of MarketWatch.com, the answer is no. Buying last year’s winners is a not a winning strategy. It is often more true that past winners become future losers. The best thing you can do when examining the 2016 performance rankings is to sit on your hands. That’s because, if you behave like the average investor, you will be sorely tempted to begin following those advisers and strategies with the best 2016 returns. More often than not, that turns out to be a bad idea. This is important advice at any time, but especially now, since in the next few days you will be … [Read more...]
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