Should the Trump administration fight a proposed takeover of Grubhub by Uber? If the two companies unite, they'll own 55% of the market for food deliveries. That's a staggeringly large number in a very young industry. Regulators might want to look at the path taken with Facebook. They allowed the social network to purchase Instagram and WhatsApp, delivering to it massive market share, and killing two of the best options for creating a competitive market. Since then, Facebook has been embroiled in scandal after scandal. Cara Lombardo reports on the proposed deal for the Wall Street … [Read more...]
Your Survival Guy’s Home (and Money) Protection Plan
Coronavirus Infects Stock Market: Part XLV Your Survival Guy was recently asked how I would protect my family if a gang showed up at my door (answer below), which leads me to wonder: Where you live may never be more important. Elon Musk has had it with California. Put me in jail, he says, but don’t think I’m letting my business die without a fight. How hard would it be for you to move to a Red state? I’m not saying you do it now, but in prep for the next unforeseen event you might want to think about it. Would being in a Red state improve your situation? We might find out, as guys … [Read more...]
Established Brands Take Revenge on Startups
The coronavirus effect has halted a trend toward startup consumer companies that has been ongoing in the industry for years. Carol Ryan reports in The Wall Street Journal: Seeking comfort while sheltering at home, shoppers are reaching for Hershey Bars rather than gluten-free energy balls. That is bad news for challenger brands, whose healthy snacks were taking market share from global food companies until very recently. Discussing their latest quarterly results, executives at Nestlé, NSRGY -0.32% Kraft Heinz and Procter & Gamble PG -0.66% all said consumers are returning to … [Read more...]
“Good Golly Miss Molly!” You Own a Bank?
Coronavirus Infects Stock Market: Part XLIV When you visit me in Newport, R.I. you’ll need your GPS. Our office is at 98 William Street, but you’ll never find a number on our building. We like it that way. The privacy. The building? It’s beautiful. It’s brick with ivy climbing up the side, manicured trees in front, protected by a black wrought iron fence. Welcoming? Perhaps, that is, if you can get beyond the startling “No Parking” sign. Once inside the gates, you’ll see a solid wood door protecting the foyer, with an American flag, and a security phone setting the tone. Once you dial-in, … [Read more...]
The Fed Drowns Bond Market Signals
During normal times in markets (remember them?), bond yields play an important roll in signaling investor sentiment. With unprecedented Federal Reserve intervention in bond markets, those signals are completely wiped out. Colby Smith and Tommy Stubbington report for the Financial Times: When the Federal Reserve stepped in to support the world’s largest debt market in March, fixed income investors were relieved. But in successfully staving off a more pronounced financial crisis, the Fed has further distorted markets, they say, overwhelming the once-reliable signals that bonds used to give … [Read more...]
You Can Kiss Summer Goodbye in Newport, R.I.
Coronavirus Infects Stock Market: Part XLIII You can kiss this summer goodbye. This weekend Newport opened for business, but it’s hardly open. There were cars driving along Thames Street, but hardly the traffic you see on a typical Mother’s Day. Most of the cars were just driving with no intent on stopping. The two restaurants I saw open had maybe four customers combined. Hotels are already thinking about next summer—if they survive. Governor Raimondo still has a 14-day quarantine requirement for out-of-state guests. Hotels can’t take reservations until they know when the quarantine will … [Read more...]
Hedge Funds Gear Up with Gold to Fight Fiat Currency Inflation
Laurence Fletcher and Henry Sanderson report in the Financial Times about hedge fund efforts to use gold to fight fiat currency inflation. They write: Some of the world’s largest hedge funds are raising their bets on gold, forecasting that central banks’ unprecedented responses to the coronavirus crisis will lead to devaluations of major currencies. Paul Singer’s Elliott Management, Andrew Law’s Caxton Associates and Danny Yong’s Dymon Asia Capital are all bullish on the yellow metal, which has risen about 12 per cent this year. They are wagering that moves to loosen monetary … [Read more...]
On Saturday, You Can Buy a Gun in Massachusetts Again
Coronavirus Infects Stock Market: XLII Massachusetts gun stores will be allowed to open this weekend thanks to U.S. Judge Douglas P. Woodlock issuing a preliminary injunction to prevent the state from enforcing the unlawful order from Gov. Charlie Baker. "We don't surrender our constitutional rights. These plaintiffs have constitutional rights that deserve respect and vindication, and it becomes necessary for a court to do that rather than the executive when the executive declines," said Judge Woodlock. Gov. Charlie Baker's emergency order shuttered FFLs statewide, eliminating "all … [Read more...]
“The Current Debt Will Never Be Repaid, Just Inflated Away”
In the Financial Times, John Plender explains that the debt being taken on to fight coronavirus will never be repaid, just inflated away. He writes: A more fundamental question about the recovery relates to the central banks’ asset-purchasing programmes. William White, former head of the monetary and economic department at the Bank for International Settlements, points out that repeated monetary easing to stimulate demand brings forward private spending in time, with purchases being financed by debt accumulation. As the weight of the debt burden increases, the effectiveness of monetary easing … [Read more...]
New! RAGE Gauge™ I’m Busier than Ever
The numbers ain’t pretty. Unemployment went from a near-record low to high in a matter of weeks; the T-bill rate, the investor’s North Star, is a fallen one (see below); gold is up, and background checks are still high (about double compared to this time last year). Elevated risks are everywhere and yet the Nasdaq trades as if there’s “nothing to see here,” as retail investors run ‘em up like .com days. It’s truly breathtaking. In my conversations with you, you’re telling me it’s because of times like these you’re with us. You also tell me, if you’re not a client, how much … [Read more...]
- « Previous Page
- 1
- …
- 248
- 249
- 250
- 251
- 252
- …
- 640
- Next Page »