Canadian railroads are rapidly hiring new employees to keep up with record demand for transporting crude oil by rail. Deborah Jaremko writes for JWEnergy: The price of Canadian heavy crude is currently trading at a whopping $30-plus per barrel less than U.S. light oil, but the spread should narrow as more crude by rail comes online, analysts said on Thursday. Crude by rail traffic has hit record levels this year and is expected to continue increasing until additional export pipeline capacity is completed out of western Canada. Carloads reached 200,000 bbls/d for the first time earlier … [Read more...]
Archives for September 2018
Marijuana: Wall Street’s Next Bitcoin?
When thinking about Wall Street’s marijuana madness, margin of safety doesn’t exactly roll off the tongue. “I believe there’s a great opportunity for our insolvency lawyers in this industry,” said Patricia Olasker, a partner at Toronto-based Davies Ward Phillips & Vineberg LLP. “There are going to be lots and lots of failures.” Jacquie McNish and Vipal Monga report at The Wall Street Journal: Shannon Soqui just quit his Wall Street job to go after what he thinks is a bigger business: selling marijuana the way Mary Kay Inc. sells cosmetics. The 51-year-old banker wants to focus on Qind, … [Read more...]
Is This the Beginning of Streaming Consolidation?
Over the last few years the number of music streaming services has grown quickly, with major players like Amazon, Apple, and Google getting into the business, along with many smaller rivals led by Pandora and Spotify. Now Sirius XM satellite radio wants to enter by buying Pandora. The move could imply that music services need to scale up to stay competitive. Could this be the beginning of a consolidation phase in the industry? Allison Prang reports for The Wall Street Journal: Subscription radio company Sirius XM Holdings Inc. SIRI -0.43% agreed to buy Pandora Media Inc. P -3.19% in a deal … [Read more...]
Never Checkout at the Store Again?
With Amazon's new cashierless technology, the promise is that you won't need to wait in lines or checkout. Simply pick up the items you want, put them in your cart and head for the door. Amazon will keep track of your purchases with sensors and computer-vision technology and then charge your account when you leave. Bloomberg's Spencer Soper reports that Amazon plans on opening 3,000 of the stores over the next few years. He writes: Amazon.com Inc. is considering a plan to open as many as 3,000 new AmazonGo cashierless stores in the next few years, according to people familiar with matter, an … [Read more...]
The Guru Investment Trap
Over the last few years you have seen just how badly so-called gurus can get a prediction wrong. The complete failure of “experts” to predict Brexit, the election of Donald Trump, and even the economic implications of a Trump Presidency are good examples of how seemingly sound predictions can lead folk astray. Market predictions are the same. In May of 1995 I warned readers away from placing their faith in forecasts with a little set of examples I’ve quoted for you here: Last fall when I told you that 1995 would be a decent year for the stock market, I was not making a prediction. Rather I … [Read more...]
Will You Outlive Your Money?
Yes, when you ask yourself the question “Will I outlive my money?” it’s true, it doesn’t exactly elicit a warm and fuzzy feeling. Sweaty palms is more like it. But it’s a question we all wonder about, especially after booking Business Class to Paris. Sorry kids! In my first conversation with prospective clients, I can usually tell within about 17-seconds whether or not we’re a good fit. It mainly has to do with a grasp of reality. The cold reality of our recommended draw rate of three to four percent per year can set an early tone. And hearing “the lower the better” most definitely … [Read more...]
Tech Loses its Biggest Stars
Changes to indices from S&P and MSCI will move some of tech's biggest companies into other classification categories, drastically altering the look of some tech fund benchmarks. Bloomberg's Carolina Wilson and Sarah Ponczek report: (Bloomberg) -- ETF investors have ridden tech stocks to outsized returns during the record bull market in U.S. equities. But a major shakeup coming next week to the indexes some of the biggest funds track could leave fans cheering for a team they barely recognize. S&P Global Ratings and MSCI Inc., two of the world’s biggest index providers, are … [Read more...]
Google Ready to Squeeze into Cars?
Can Google push its software into automobiles the same way it did smart phones? It turns out, offering free software in exchange for customer data and advertising opportunities is as attractive for automobiles as it is for smart phones. An auto-group including Renault, Nissan and Mitsubishi has decided to add Android to its vehicles. Will the move tie the automakers to Google forever? Reuters reports: Renault, Nissan and Mitsubishi said on Tuesday their cars will use Google’s Android operating system from 2021. The Franco-Japanese alliance, which sold 10.6 million vehicles last year, … [Read more...]
Your Retirement Life: How to Discover Your Small Town
With the foliage about to change colors, Fall is the best time to visit the small towns of New England. Read this post I wrote on September 23, 2016 about how to discover your small town. You're about to read the second installment of my brand new series, Your Retirement Life. We are in this together, trying to live a more prosperous, fulfilling life. It ain’t easy. But we can learn from one another. I’d like to hear your story. I hope you like this one. When I was a kid we used to go camping. Not in a fancy RV but, like the good ‘ole days, in a tent. My favorite place to go with my … [Read more...]
Top 10 Ski Resorts 2018: Kill Two Birds with One…Pass
If you’re a skier, it’s never too early to think about snow. One of my favorite websites to peruse is ZRankings, which ranks the best ski resorts in North America. Its creator is Chris Steiner, a regular contributor to Forbes magazine, and a skier who clearly likes to SKI. Check out his Top 10 list for 2018 . Today, thanks to mega-consolidation of ski resorts, it’s not unusual to be able to ski more than a dozen mountains on one pass. For example, you can kill two birds with one stone—Snowbird, in Utah and Loon, in New Hampshire—with the same IKON season pass. Lucky you! The combinations … [Read more...]
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