Big mining companies like BHP, Rio Tinto, Anglo American and Glencore are enjoying the world's booming economy. Higher demand is coming for coal and metals used to produce electric cars. Stronger economic growth in the U.S., Europe and China has been the biggest catalyst to improved miner performance. The Wall Street Journal reports: The metals market has been buoyed by a rare period of synchronized economic growth in China, the U.S., Europe and major economies elsewhere. Also helping: a chilly Chinese winter that fueled coal purchases, the industry’s expectations of a global infrastructure … [Read more...]
Archives for February 2018
Happy Presidents’ Day
A DECALOGUE OF CANONS FOR OBSERVATION IN PRACTICAL LIFE Never put off till to-morrow what you can do to-day. Never trouble another for what you can do yourself. Never spend your money before you have it. Never buy what you do not want, because it is cheap; it will be dear to you. Pride costs us more than hunger, thirst, and cold. We never repent of having eaten too little. Nothing is troublesome that we do willingly. How much pain have cost us the evils which have never happened. Take things always by their smooth handle. When angry, count ten, before you speak; … [Read more...]
Investors Flee High-Yield Debt
When economic growth booms, Treasury yields often rise and the prospects for junk bond issuers tends to improve. In an environment where interest rates are rising because economic growth is strong, junk bonds tend to outperform Treasuries. Spreads (difference in yields) on junk bonds narrow as the risk of default falls in a better economy Don’t tell that to the crowd who has been reaching for yield in junk bonds though. As the FT reports, high-yield debt redemptions reached their second-largest net outflow, $10.9 billion last week. Central banks have distorted risk free yields for so long … [Read more...]
Dip in Trucking Prices Could be Temporary
Jennifer Smith reports at The Wall Street Journal that a recent drop in the prices for last minute shipping via tractor trailer could be a temporary phenomenon. With new regulations on their way to enforcement in April, and a charging economy, there could be upward pressure on trucking prices once again in the near future. She writes: Manufacturers and retailers are enjoying a breather from soaring trucking costs, but many shippers say lingering problems in booking big rigs point to more turmoil ahead. Rates on the spot market, where companies book last-minute transportation, have come … [Read more...]
Tax “Cuts” will Fuel the Florida Migration
Originally posted November 14, 2017. Want to get away? If you live in blue-states New York, New Jersey, Connecticut, Rhode Island, Massachusetts, and while I’m at it California, you do now. As the so-called tax “cut” grinds its way through the sausage maker in Washington, why would you stick around any longer than you have to? Most of you aren’t sticking around for the weather. It’s more likely you’re here for your family. Last time I checked, raising a family is a big investment and where you live is a huge part of the equation. Which is why I have a problem with this tax “cut” … [Read more...]
Do You Live in a Blue State and Want to Get Away?
There’s no perfect answer but I like the idea of a boots on the ground approach through vacationing or a seasonal rental. Once you determine you actually like living somewhere new, then it’s time to make the big move. Research is part of the fun and here’s one way to get you on the road again. Glenn Ruffenach at The Wall Street Journal gives potential movers a way to compare destinations: So, as you indicate, combining results from several resources generally works best. Here are some good places to start: The nonprofit Council for Community and Economic Research in Arlington, Va., has … [Read more...]
How Revolutionary Satellite Tech is Changing the World
Here the FT reports on the revolution in satellite technology that is having a profound impact on many different businesses and industries. Investors, for example, can now estimate traffic at retail establishments or oil storage tankers moving into China. Today, a new revolution in satellite technology is unfolding at warp speed, and its consequences are just as unpredictable. The rapid adoption of billions of smartphones and other connected devices over the past decade has boosted the market for telecommunications satellites, transforming the demand side of the business. But the supply side … [Read more...]
Despite Strong Growth, the Retail Reaper Still Haunts Brick and Mortar
Despite strong economic growth over the last year, some brick and mortar retailers are still having trouble fighting the e-commerce tide. Barnes & Noble had a poor holiday season of sales, and will be forced to fire employees. Jeffrey Trachtenberg writes: The bookseller, which declined to say how many staffers are being cut, said in a securities filing that it will take a charge of about $11 million in its third fiscal quarter ended Jan. 27 related to severance costs. The retailer said the layoffs, which will also affect people involved in receiving products into stores, are expected … [Read more...]
Dow Swings 2,000 Points: My February RAGE Gauge
Make sure you have your investment plan in place sooner than later. There may be some rough waters to navigate. Inflation numbers out today could foretell some tough times as the Fed may be forced to respond. When a record share of small businesses say now is an opportunity to expand operations I pay attention. Bloomberg reports: Six of the 10 components that make up the small-business optimism index increased in January, producing one of the strongest readings in the 45-year history of the survey. The figures show sustained, sturdy business sentiment since the November 2016 election. A … [Read more...]
Inflation in America: A Reason to Avoid Emerging Markets?
Traditionally emerging markets haven't performed well in times of inflation in the United States. While most inflation predictions for the U.S. don't put emerging markets in jeopardy, the latest inflation numbers and some predictions are raising red flags that all emerging market investors should be paying attention to. Steve Johnson reports in the FT: Matters could yet become a little fraught, however, with some estimates for inflation starting to come uncomfortably close to the danger level for EMs. Research by Daniel Salter, head of emerging market equity strategy at Renaissance … [Read more...]
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