DC Velocity reports: The Port of Virginia welcomed a pair of massive container cranes to its Norfolk International Terminals (NIT) this week, the final pieces of equipment needed to complete a $450 million, two- a-half-year-long renovation of the terminal’s South Berth, port officials said Thursday. The cranes increase the port’s ability to handle larger volume ships—now and down the road, officials said. The cranes will be able to accommodate so-called ultra-large container vessels (ULCVs) that make regular stops in Virginia, as well as higher-volume “ships of the future,” according to … [Read more...]
Don’t Sweat It When She Asks, “Do We Have Anything to Watch Tonight?”
OK, we all know the real battle in your day begins when one of you asks, “Do we have anything to watch tonight?” Your palms sweat as dinner’s ready, and you have no idea what “you’re” going to watch. The last place you want to be is on the couch, dinner in front of you, toggling around tiles on your TV with not a clue what you’re looking for. I feel your pain. You can only watch the Crown so many times (I’m on our third loop around the empire). Unfortunately, investors get that exact sweaty palm feeling when they start punching in the ETF and mutual fund quotes on their computer to do a … [Read more...]
The Big Reward for Delaying Social Security
In The Wall Street Journal, David Blanchett explains the rewards retirees will reap by delaying their Social Security payments. He writes: Many people worry about the long-term viability of the Social Security retirement system these days. Pre-pandemic estimates put the trust fund going to empty around 2034, but given everything going on with our economy that estimate seems a tad optimistic. When the trust fund goes to zero, though, it doesn’t mean benefits go to zero. At that point benefits would be based on taxes collected. Assuming nothing changes policy wise, that would reduce benefits … [Read more...]
What if You Don’t Have to Cut the Cord to Pay Less?
When you look at your monthly statement, do you feel like you have a good handle on what’s going on? You punch in an ETF or mutual fund symbol, but it doesn’t tell you much. It’s like trying to pick a show on Netflix—let’s see what this is about—only to realize five episodes in that it was a waste of time. Your time is valuable. You deserve to know what’s going on from day one. Today you have advisors selling you blueprints that sound good, but then you realize they’re stuffing your portfolio with ETFs and mutual funds that charge you a fee on top of what you’re paying the advisor. A lot of … [Read more...]
Volvo Beats Tesla to Fully-Electric Heavy-Duty Truck Market
On Thursday, Volvo became the first manufacturer to offer a fully-electric heavy-duty truck. Richard Milne reports for Financial Times: Volvo Group is set to become the first manufacturer to offer a fully-electric heavy-duty truck for sale as the Swedish group aims to show battery power is possible for the biggest commercial vehicles. The world’s second-largest truckmaker announced on Thursday that electric heavy-duty trucks with a range of up to 300km would go on sale next year and enter production in 2022 as Volvo pushes for half its truck sales in Europe to be battery powered by the end … [Read more...]
Will 5G Spur a Surge in Smartphone Sales?
Asa Fitch reports in The Wall Street Journal that chip makers are expecting a surge in smartphone sales as consumers purchase 5G phones. Fitch writes: Mobile-phone chip-making giant Qualcomm Inc. QCOM 12.64% expects a surge in smartphones sales next year as consumers flock to 5G-capable devices such as Apple Inc.’s new iPhone 12 that helped lift its latest results. Qualcomm, a leading supplier of the chips powering 5G equipment, is projecting shipments of 450 million to 550 million 5G smartphones in 2021, at least double the expected total this year. Handset sales were the big driver of … [Read more...]
When Isn’t Money Tight? Read More to Find Out
If you’re like most investors I speak with, you’ve put in your time. You’re in retirement or well along the road to planning for it. You’ve made sacrifices. You’ve put the kids through college or have saved enough to do so, and you feel like you’re over the hump. That’s a great feeling. It’s what you imagined that first time you sent a check in to invest. The idea that someday you’d be able to enjoy it. It’s a special moment. For many others, that moment may never come. That’s because, from my vantage point at least, investment advisers don’t spend enough time understanding why investors do … [Read more...]
Rich Man, Poor Man and the Greatest Generation
Happy Election Day. It’s nice to know one candidate isn’t in it for the money. Originally posted December 4, 2018. You may have read Rich Man, Poor Man—one of my favorite pieces ever written by the late great investment writer Richard Russell. It’s one of those timeless pieces that makes me feel like he’s still with us. And with the passing of President George H.W. Bush, I’m reminded of the sacrifices of the “Greatest Generation” and their unique perspective on life. You see, Richard Russell served in World War II, like President Bush, and knew what it felt like to worry about … [Read more...]
Trapped by Low Liquidity
Investors in private real estate funds are finding out what liquidity risk means. High redemption requests are forcing big real estate funds to delay redemptions. Peter Grant and Esther Fung report for the Wall Street Journal: Overall, more than 15 of the 25 open ended core funds tracked by the National Council of Real Estate Investment Fiduciaries have investors waiting to redeem tens of billions of dollars worth of investments, according to industry participants. The Council said it doesn’t tabulate redemptions. Those 25 funds had a total of $267.1 billion gross real-estate assets at the … [Read more...]
“Five Decades Later Writing to You from Old Town, Key West”-Dick Young
“Well, writing to you now, five decades later, from our outside kitchen/living space in the heart of Old Town, Key West, I can’t help but think how much water has gone under the bridge through the many decades,” wrote Dick Young to you in the June 2017 issue of Richard C. Young’s Intelligence Report. “But if you have been with me over the years, you are keenly aware that it is indeed the combination of dividends, compound interest, perspective and patience that frames the message I deliver to you month after month. I do not change course. You can count on it.” Dick Continues: My Decades … [Read more...]
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