The negative aspects of China's business policies don't only affect companies from the United States, they affect all foreign-owned businesses operating in China, and even those that don't. So despite the hue and cry that the trade war led by the president of the United States would break the global system, many developed democracies have seen fit to mimic Trump's stance toward China. Canada, Japan, Australia, and somewhat reluctantly Germany have become more aggressive in their trade relations with China. Bloomberg reports: With governments from Japan to Canada and Australia taking a harder … [Read more...]
Archives for September 2019
Take it from the Forty-Niners, There’s a Better Way to Play Marijuana Stocks
In 1848, there were around 1,000 non-native people living in California. By the end of 1849's Gold Rush, there were over 100,000 living in the territory. By 1852, those settlers had found $2 billion worth of gold in the area. Despite the fortunes made by gold, most of the forty-niners weren't successful. The Sacramento Bee reports that "one in every five miners who came to California in 1849 was dead within six months." Legend has it that the people who really made money during the Gold Rush weren't the many prospectors who spent their time panning and digging for gold, but those who sold them … [Read more...]
Munis Stuck between a Rock and a Hard Place?
There may be no good alternative for muni bonds today. According to Mark Schmidt and Michael Zezas of Morgan Stanley, whether the economy slows or accelerates, the muni bond market could suffer. Bloomberg's Amanda Albright reports: A slowing U.S. economy could be bad for the asset class -- and so could a rebounding one. That’s made the bank less optimistic about state and local government debt, which has returned 7.6% in 2019, marking the best year since 2014, according to the Bloomberg Barclays index. The bank’s municipal-securities strategists, Michael Zezas and Mark Schmidt, said in a note … [Read more...]
You Could See the Trump Flags Flying BIG Time this Summer
And I mean BIG TIME. When it comes to boating, especially sportfishing, it takes some serious money. You need some bucks to buy a sportfishing boat. You’ve realized some major success in your business to own a sportfishing boat. Walking the piers up and down the Eastern Seaboard this Summer, you saw “Trump” flags flying proudly from the sportfishing outriggers all summer long. These are not poor folk. They plow huge money into their sport which, in the Fall, becomes tailgating at either college or NFL games—where you’ll also see the Trump flags flying. You’ll like this … [Read more...]
Didn’t This Happen Before the Last Crisis?
Companies from a wide array of industries are securitizing their assets. Essentially the companies are mortgaging themselves to achieve investment-grade debt ratings. This is reminiscent of similar behavior just before the Great Recession. Claire Boston reports for Bloomberg: As borrowing costs plunge for the highest-quality companies, there’s a growing incentive for riskier businesses like fast-food chains to mortgage virtually all their assets. Franchised companies like burger restaurant Jack in the Box Inc. and massage provider Massage Envy are increasingly selling unusual bonds backed … [Read more...]
Voice Spoofing: Now Criminals Can Deepfake Your Voice
Is that your boss on the phone telling you to wire money to a suppliers' account? Is that really your mom on the phone telling you she's stuck in Paris and needs money for a flight home? Is that really your client asking you to transfer money from one of her accounts to another? The answer could be no. Criminals have successfully used AI technology to fake an executive's voice, using the fake to direct a subordinate to send the criminals money. Catherine Stupp reports: Criminals used artificial intelligence-based software to impersonate a chief executive’s voice and demand a fraudulent … [Read more...]
Happy Labor Day!
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