Prices for rice have spiked as a result of the Indian government's decision to ban exports of many varieties of rice. Nikkei Asia reports: International prices for rice and wheat have spiked to rare highs in recent weeks, driven by India's ban on most rice exports and Russia's ongoing war in Ukraine. Bangkok rice traded at $607.50 a tonne on July 27, with the benchmark jumping by $62.50 in the week since India announced a ban on exports of non-basmati white rice July 20. Bangkok rice hit its highest price since May 2012. India's ministry of consumer affairs said it prohibited most rice … [Read more...]
Archives for August 2023
Prepared for When the Next Black Swan Swoops In?
In my conversations with you, we talk about the markets. We talk about prices. We talk about how your portfolio is aligned. We talk about when the next Black Swan will swoop in because it always does—just never on anyone’s schedule. As Your Survival Guy, my goal is to craft investment plans that may handle the hardest of times. Investors know about the Great Depression and other horrible markets, but they don’t always invest as if they do. There’s often an “it won’t happen to me” or “you only live once” attitude. I’m here to say it can happen, and one should prepare as if it will. The … [Read more...]
CVS Cuts Costs while Demand Rises for Its Products
Despite increasing demand for its products, CVS will cut 5,000 corporate jobs to reduce its costs. The Wall Street Journal's Ngai Yeung reports: The Woonsocket, R.I.-based company’s healthcare benefits segment reported revenue of $26.7 billion, up 17.6% from a year ago as more people used Medicare Advantage compared with the same period last year. Its health services segment saw revenue climb 7.6% in the latest quarter to $46.2 billion, driven by recent acquisitions. The healthcare company has been expanding the range of its offerings lately. Earlier this summer, the company closed a … [Read more...]
Human Nature: Looking at Today for Tomorrow’s Answers
Good morning, time travelers. It’s been a long time since we’ve seen rates this high. It’s human nature to look at today’s yield curve and have all the “answers” about how to invest for tomorrow. But you know Your Survival Guy isn’t in the interest rate prediction business. I look at what the markets are giving me and invest accordingly. The same is true with stocks, with the Dow Jones Industrial Average as a good proxy. There are plenty of bumps along the way, which is why I like a solid mix of blue-chip, dividend-paying stocks and laddered bonds. Action Line: Being a … [Read more...]
Two Essential Ingredients to Wealth
Diversification and patience. Two essential ingredients to wealth that are often discovered on the road most traveled. Because most investors are too busy working and accumulating money to think about diversification and patience, it’s done for them. They’re on autopilot. But when you start thinking about retiring, it’s hard to stay on the road to wealth—especially with all the distractions. Right now, I’m thinking about all those treks driving to Florida. It’s hard to miss the billboards to visit Pedro at South of the Border—the roadside attraction we all know from driving route … [Read more...]
This Belongs on a Loved One’s Fridge
Your Survival Guy recently featured the prudent man in this piece “Investing Mistakes to Avoid: #3 Back 40 Back.” As you know, dear reader, I write to you about what I think I know, personal experiences (not all good), and life in general. As a fiduciary, I look to the prudent man as one of my personal guides. If someone you love would benefit from his wisdom, send this along. It’s perfect for the fridge. We’re in this together. A timeless piece from The WSJ: Adam Smith, “The Theory of Moral Sentiments” (1759): The prudent man always studies seriously and earnestly to understand … [Read more...]
The Quick Death of the Local Mall
Prices for mall real estate peaked in 2016, and since then, some low-end malls have watched their values drop "at least 50% and in some cases more than 70%," according to Kate King, reporting in The Wall Street Journal. She writes: WATERFORD, Conn.—Crystal Mall’s parking lots used to be so crowded that parents would line up to drop off their teenagers near one of the entrances rather than search for a spot. Now, the vast stretches of cracked pavement surrounding this 1980s-era regional mall on Connecticut’s coast have more weeds than cars. Valued by an appraiser at $153 million as recently … [Read more...]
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