Next week I am heading to Paris to spend two weeks visiting LVMH retail locations in Paris, and each of the Palace Hotels, as well as the vineyards of Burgundy. In the case of LVMH, the company controls one of the world’s best portfolios of luxury clothing, Champagne and liquors. It is virtually unrivaled. The very best just never goes out of style. Reports the Wall Street Journal: Investors seem to be looking for any excuse to sell luxury stocks just now. This week it was slightly underwhelming third-quarter sales numbers from luxury conglomerate LVMH LVMUY -9.07% Moët Hennessy … [Read more...]
Archives for October 2018
Commit This to Memory
Bond yields are rising, tech stocks look shaky, emerging market currencies are tanking, and in the midst of the longest bull market in history, September property sales in Manhattan are down 39% compared to 2017, with median sales prices falling 9% during that time. There are some warning signs flashing. What should you be doing now to prepare for a future downturn? In April of 2002 I wrote: Here is a historical goody that will offer you much comfort. In every stock market downturn since 1950, with one mini-exception, intermediate-term U.S. Government bonds have risen. Talk about the power … [Read more...]
Stocks Crater 831 Points
On a day where the Dow shed 831 points and tech heavy Nasdaq lost over four percent, many bonds made money. It’s a simple, yet important, reminder of how counterbalancing works. Originally posted on Yoursurvivalguy.com. … [Read more...]
Higher Interest Rates are a Positive
Yesterday’s stock market rout has been at least partly attributed to rising interest rates. With bond yields up, investors who were once pushed into the stock market by the likes of Ben Bernanke and Janet Yellen are finally getting some well deserved respite under Chairman Powell. The President isn’t happy about rising interest rates, blaming the Fed for the sell-off, but he should be. Many of his retired and soon to be retired supporters are in favor of higher interest rates. A little air coming out of the stock market isn’t a bad thing. Stock prices have been distorted for years by … [Read more...]
Trump Powers Economy into the Mid-Term Elections
As November approaches, and voters begin to make their decisions about who they will vote for on Election Day, the economy is roaring hotter than it has in a long time. Confidence is soaring, profits are up, jobless claims are down, unemployment is down, and industrial production is up. These among other indicators show the economic strength the Trump administration has generated with its business-friendly governing style. … [Read more...]
It’s Time For Investors to Focus on Treasuries
It’s time for investors to focus on Treasuries. As stocks tumbled 3% yesterday, Sinead Carew wrote at Reuters: NEW YORK (Reuters) - U.S. stocks tumbled on Wednesday, with the S&P 500 marking its biggest daily decline since Feb. 8, and technology stocks led the losses as rising U.S. Treasury yields sent investors fleeing from risky assets. The Dow Jones Industrial Average .DJI fell 831.83 points, or 3.15 percent, and the Nasdaq Composite .IXICdropped 315.97 points, or 4.08 percent, to 7,422.05. Read more here. … [Read more...]
Your Retirement Life: A Dire Warning
You may want to pay attention to what public pensions are buying and, more often than not, do the exact opposite. Case in point, a few years ago this group loaded up on “alt-investments” and hedge funds. Don’t look now, but hedge funds, which charge an exorbitant 2-and-20 (2% per year on your assets under management and 20% of your investment gains), are going out of business left and right. And then, as reported yesterday in The WSJ, the California Public Employees Retirement System (CALPERS) spent more than $2 billion on Southern timberland and harvested the trees at depressed prices to … [Read more...]
The Internet: The Perfectly Competitive Market We’ve Been Waiting For
Jacob Passy, writing at MarketWatch, explains that the Internet is taking what was once difficult—finding the best price—and making it easy. Because e-retailers can't have the physical advantages a location can generate, they are forced to compete on price. In economics, perfect competition is sometimes just a theory, but the Internet is bringing that theory closer to reality for retail consumers. Passy writes: As more shoppers move online, the competition they are fueling between e-retailers like Amazon AMZN, -0.50% and traditional retailers like WalmartWMT, -0.08% and … [Read more...]
The Trump Administration Continues to Pile Up Economic Records
With businesses confident in the strong economy, and urged on by the Trump administration, record levels of investment are going into infrastructure. Miriam Gottfried reports in The Wall Street Journal: Private-equity firms are on track to raise a record amount for infrastructure investing in 2018, as money managers bet on the growing need to upgrade and expand the world’s railroads, natural-gas pipelines and data centers. The firms collectively raised $68.2 billion in the first three quarters of the year, up 18% over the same period in 2017 and already surpassing the $66.2 billion they … [Read more...]
Your Retirement Life: Columbus Day in Newport, RI
Early October is a wonderful time to visit Newport, Rhode Island especially Columbus Day weekend. Discover Newport is a great place to find out what's happening each week. Here's what Brittany Lauro wrote about Columbus Day weekend: Columbus Day weekend on the Classic Coast brings with it all the fall feels as festival season kicks into full gear with seven (yup, seven!) fairs, festivals and major events taking over. Stroll cobblestone byways and enjoy special deals at the annual Columbus Day sidewalk sale on Bowen's Wharf where you'll find great deals on unique items from area shops; … [Read more...]
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