The loose monetary policy being pursued by the Federal Reserve has generated at least one internal critic, Federal Reserve Bank of Boston President Eric Rosengren. The Boston Fed chief is worried that measures taken to push the American economy toward 2% could risk distorting financial markets. Christopher Condon reports for Bloomberg: Federal Reserve Bank of Boston President Eric Rosengren warned his fellow monetary policy makers against putting financial stability at risk in pursuit of higher inflation. “I don’t think there’s a big cost to being a little below 2%,” Rosengren told … [Read more...]
Apple Market Cap Eclipses Entire S&P 500 Energy Sector
Analysts at Bank of America were the first to point out today that the market capitalization of Apple Inc. has eclipsed that of the entire S&P 500 energy sector. … [Read more...]
What is the Best Gold ETF for Investing and Trading?
One of the easiest and lowest-cost ways to buy gold is through a gold exchange traded fund (ETF). But which Gold ETF should you buy? When the first physical gold-backed ETF debuted in 2004, the best Gold ETF for trading and investing was the SPDR Gold Shares ETF (GLD) because it was the only game in town. Today, U.S. investors have seven physical gold ETFs to choose from. The SPDR Gold Shares ETF was the first, and it is still the biggest, but it's no longer the best for every scenario. We'll breakdown the U.S. Gold ETF and help you choose the best ETF for long-term investment and the best … [Read more...]
Nike Shows Brands a Way Forward without Amazon
Nike has pulled the plug on an attempt to sell through Amazon.com directly after the online retailer couldn't clean up unauthorized resellers from its website. Despite Amazon.com's dominance of online retail, Nike has charted a course that may be a guide for other brand name companies. Nike has pushed more sales through its own channels, both in its own stores and through its apps and website. Khadeeja Safdar reports for The Wall Street Journal: For years, Nike had refused to sell directly to Amazon, fearing it would undermine its brand. Nike executives were unhappy with how unauthorized … [Read more...]
Who’s your Most Trusted Financial Advisor?
The WSJ featured a piece last Friday on the debacle that has been WeWork. WeWork is a real estate company that owns no real estate. The core of WeWork’s business model is subletting. WeWork leases large spaces in buildings, transforms them in a specific style, and then sublets the space to individuals and businesses at a higher price. Who might be interested in leasing space from WeWork? Freelancers, startups, and other businesses who desire short-term lease agreements and flexibility. WeWork’s tenants, or members as they are sometimes called, sign leases that last an average of … [Read more...]
Young People Can’t Afford Homes: Is the Fed to Blame?
Young Americans are increasingly priced out of buying homes. Along with their high levels of student debt, low levels of family formation, and lack of housing supply, a big part of what may be holding them back is a Federal Reserve monetary policy that regularly seeks to boost asset prices by holding down interest rates. Reade Pickert reports for Bloomberg: Faced with higher property prices and piles of student debt, Americans are getting older and older before they buy a home. The median age of first-time home buyers has increased to 33, the oldest in records dating back to 1981, … [Read more...]
Vanguard Wellington (VWELX): The Original Balanced Fund
The Vanguard Wellington Fund (VWELX) is the original balanced mutual fund. It was the first mutual fund to include bonds in its portfolio and the 7th open-end mutual fund ever launched in the United States. It also happens to be one of the most successful mutual funds of all-time. From its inception in 1929, the Vanguard Wellington Fund has turned a $10,000 investment into over $11,000,000 (through year-end 2018). Wellington’s approach of investing in stocks, as well as bonds, is the driving force behind the fund’s 90+ year record of investment success. Were it not for the decision of … [Read more...]
Are You Saving the Right Way?
How much is your bank paying you on your savings account? If you have a savings account at Bank of America, you’re likely getting paid $5 for every $10,000 you have deposited. That’s 5 basis points or .05%. Do you know how long it would take to double your money at a .05% rate of return? Almost 1,400 years. BofA’s savings account yield makes Schwab look generous with a .10% cash yield. And Fidelity looks like an absolute saint, offering investors a yield of 1.5% on their core cash account. Who do you have to thank for the paltry interest you are earning on your savings … [Read more...]
Warren’s Tax Plan to Pay for Medicare for All is Finally Here
After avoiding questions about her plan to pay for Medicare for All throughout the campaign, Elizabeth Warren has finally unveiled a new tax plan to do just that. The plan would: Raise $2.3 trillion with stricter foreign tax compliance, instituting a country-by-country minimum tax on foreign earnings of 35%—equal to a restored top corporate tax rate for U.S. firms—and forbidding deferrals of those payments Raise another $400 billion by legalizing undocumented immigrants and requiring them to pay taxes. Turn the "temporary" Overseas Contingency Operations fund into a permanent … [Read more...]
Since When do Democrats Want to Lower Taxes on the Wealthy?
Democrats in the Senate attempted and failed to loosen the $10,000 cap on state and local tax deductions yesterday. This seems odd because the burden of the cap falls heavily on wealthy taxpayers, and since the Bush administration Democrats haven't given an inch when it comes to lower taxes on wealthier Americans. The problem with the cap may arise for Democrats in that it hits the wealthy in high-income tax, Democrat voting states the hardest. In other words, Democrat politicians' donors. Richard Rubin reports in The Wall Street Journal: Full repeal of the cap would deliver more than half … [Read more...]
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