GMO's second-quarter letter to investors, written by Ben Inker, is a master class on value investing and why value shares today look especially attractive relative to growth, aka glamour stocks. Most will likely brush off GMO's letter as the musings of a firm that has lost touch with a new paradigm in investing. "Today's growth stocks are different than your father's growth stocks," the growth bulls will explain. "It's all about innovation and disruption," as if innovation and disruption are new phenomena. Inker provides many insights on the Value vs. Growth debate, including why the … [Read more...]
BIDENOMICS: Inflation, COVID Failure, Drive Plunge in Consumer Confidence
Americans are not happy with Joe Biden's economy. Soaring prices and concerns about Biden's strategy for fighting COVID have undermined Americans' confidence in the economy. The Conference Board reported that consumer confidence fell from 125.1 in July to 113.8 in August, the lowest level since February. The report stated: The Conference Board Consumer Confidence Index® declined in August, following a decrease in July (a downward revision). The Index now stands at 113.8 (1985=100), down from 125.1 in July. The Present Situation Index—based on consumers' assessment of current business and … [Read more...]
INFLATION: How Much is a Dollar (Store) Worth?
Dollar stores are among the first to see trouble ahead from inflation in dollar prices. The Financial Times reports: Dollar stores have spread rapidly across the US since the Great Recession, pulling in cash-strapped consumers with their 21st-century twist on the “five and dime” model Woolworth popularised a century earlier. Dollar General now operates almost 17,800 stores and Dollar Tree has more than 15,900, compared with Walmart’s 4,740 larger US outlets. Close to 2,000 new dollar stores are expected to open this year, according to Coresight Research. That represents almost half of … [Read more...]
THE NEXT BIG SHORT: Paulson Predicts Crypto Will Go to Zero
You may remember hedge fund manager John Paulson from the movie The Big Short. He was the one that couldn’t believe what was happening in the real estate market and believed the system would implode. He was right. Now he’s dead against cryptocurrencies, much like Your Survival Guy. In a recent interview with Bloomberg's David Rubenstein, Paulson described cryptocurrencies as "a limited supply of nothing." He also predicted the speculative asset would go to zero. The NY Post reports: Hedge fund manager John Paulson made $20 billion predicting the downfall of the US housing market in 2008. … [Read more...]
Fed to Receive New “Woke” Mandates?
Most people familiar with the Federal Reserve have heard of the bank's "dual mandate" to balance unemployment and inflation, and maybe they are even familiar with its much-ignored requirement to maintain the stability of the currency. Now, progressives in Congress and are pushing Joe Biden to fire current Fed chairman, Jerome Powell, so he can be replaced with someone who will refocus the Fed's mission on "eliminating climate risk and advancing racial and economic justice." If that were even possible, it would mean an end to Federal Reserve independence. The new "woke" mandates are being … [Read more...]
South Korea Slaps Google and Apple for Payment Monopolies
South Korea has become the first country in the world to limit Big Tech companies' payment systems. CNBC's Saheli Roy Choudhury reports: South Korea’s parliament has approved a bill that will make it the first country to impose curbs on Google and Apple’s payment policies that force developers to only use the tech giants’ proprietary billing systems. The legislation will become law once signed by President Moon Jae-in, whose party has been a vocal supporter of the bill. Apple and Google’s policies usually require developers to pay the tech giants a commission as high as 30% of every … [Read more...]
Is the Market Bracing for a Correction?
In The Wall Street Journal, Karen Langley reports on some shifting in the market that is taking place, with shares of defensive stocks taking a leading role. Moves like this have sometimes signaled preparation in the market for a correction. She writes: Some of the hottest stocks in the U.S. are pointing to an economic cool-down. Utilities and healthcare are among the best-performing groups in the S&P 500 so far this quarter, with gains of 7.8% and 6.6%, respectively, compared with a 4.9% rise in the broad stock index. Big winners include utility NextEra Energy Inc., NEE +0.25% which … [Read more...]
CVS: Maybe Soon You Could Pay for Therapy with ExtraBucks
CVS is testing a service that offers mental health counseling in stores around America. The drug store is not alone, as Walgreens and Walmart are also experimenting with similar services. Sharon Terlep reports for The Wall Street Journal: CVS Health Corp. CVS +0.44% is betting Americans will get therapy at the same place they buy their snacks, soda and prescription drugs. The pharmacy company is among several retailers including Walmart Inc. WMT +0.58% and Walgreens Boots Alliance Inc., WBA +0.35% that are experimenting with offering counseling services in or near stores. They see … [Read more...]
September Rage Gauge Update: High RISK ALERT
If you’re paying attention to what’s going on in Afghanistan and here at home with COVID you have reasons for concern. Let me remind you, my Rage Gauge right now is at full tilt, high RISK. Clearly those in power seek a different future than what you and I may have in mind for our families and loved ones. A future where they decide how you live your life. A great RESET is in the works. Pay attention. Now, is when you prepare accordingly not when more danger arrives at your doorstep. Your Survival Guy talks with investors like you every single day. Don’t let inertia ruin your future when you … [Read more...]
Can We Still Afford the Riverboat Cruise?
Are you falling for the oldest trick in the book? Here’s how it reads. Managers today draw you in with low-cost index funds and past performance—not necessarily in that order. Then, once you’re in the door, they sell you on other stuff, like toxic variable annuities, until you’re blue in the face. It’s hard not to fall for the sales pitch. I get it. Here’s what happens. It’s Sunday morning. You don’t have a care in the world. Frank Sinatra is playing in the background. Life is good. Then you peel open the quarterly funds report in the Journal and look at the performance like a box score … [Read more...]
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