Since the financial crisis, mortgage companies Fannie Mae and Freddie Mac have been languishing on the federal government's balance sheet. The two federally backed mortgage securitization companies were taken into government conservatorship in 2008. Now, Federal Housing Finance Agency director Mark Calabria has been tasked with the almost impossible task of reprivatizing them. I know Mark from his time at the Cato Institute, and I can tell you that he is passionate about this fight. If anyone can do it, it's Mark, but it won't be easy. Congress has been less than helpful to the Trump … [Read more...]
Is an Interim China Deal in Play?
Bloomberg's Jenny Leonard and Shawn Donnan report that officials from the Trump administration have discussed a limited trade agreement with China. The agreement could delay or roll back some tariffs in exchange for Chinese concessions on intellectual property and agricultural purchases. They write: Some of President Donald Trump’s top trade advisers in recent days have discussed the plan in preparation for two rounds of face-to-face negotiations with Chinese officials in Washington, due to take place in coming weeks, the people said. The discussions are preliminary and Trump has yet to … [Read more...]
You Can Kiss Your Savings Goodbye if this Happens
Your key to investment success is to align yourself with companies that are aligned with you. What do I mean? When it comes to investment counsel and account management, you want a fiduciary at the helm. By law, a fiduciary must act in your best interests. When it comes to investing your hard-earned money you want to own companies that put you the shareholder or owner at the head of the table. If Elizabeth Warren is elected those two investor rules to live by are thrown out the window as explained below by Phil Gramm and Mike Solon at The Wall Street Journal. Do yourself and your money a … [Read more...]
Is Apple Tipping the App Store Scales in its Own Favor?
The New York Times has reported that Apple may be tipping the scales of search results in the App Store in favor of the company's own apps. Jack Nicas and Keith Collins report: Top spots in App Store search results are some of the most fought over real estate in the online economy. The store generated more than $50 billion in sales last year, and the company said two-thirds of app downloads started with a search. But as Apple has become one of the largest competitors on a platform that it controls, suspicions that the company has been tipping the scales in its own favor are at the heart of … [Read more...]
Here’s How to Explain Negative Interest Rates to Your Spouse
The Fed is pushing on a string. With interest rates so low, the Fed no longer has the pull it once did. It’s shadow banking that controls the money today as Andy Kessler explains in his excellent WSJ piece “The Fed Can’t See Its Own Shadow.” “What’s going on with the bond market, especially what the Journal has called ‘the relentless demand for longer-term debt securities’?” It’s called repurchase agreements, or “repos,” a form of short-term borrowing that today has led to nonbank lenders holding more assets than traditional banks. Today, no thanks to Fed intervention in the markets, … [Read more...]
Will Shopify Democratize the Robo-Logistics Revolution?
E-commerce giant Amazon has changed the landscape of online retail logistics with its investment in robotics at its fulfillment centers. Now, Shopify, a smaller competitor in the e-commerce industry is bringing robots into its logistics offerings. Jennifer Smith reports at The Wall Street Journal: E-commerce technology company Shopify Inc. is buying warehouse robot-maker 6 River Systems Inc. for approximately $450 million as it deepens its move into physical distribution. 6 River Systems makes software and autonomous mobile robots that guide workers through warehouse aisles, lighting up … [Read more...]
Your 401(k) When You Retire
As you know the retirement investment landscape is ever-changing as discussed with the proposed Secure Act. Make sure you know the rules so you don’t unknowingly cross the line and subject your account to penalties. There’s a reason they make this stuff confusing. Here Fidelity explains what you can do with an old 401(k): Key takeaways 4 options for an old 401(k): Keep it with your old employer, roll over the money into an IRA, roll over into a new employer's plan, or cash out. Make an informed decision: Find out your 401(k) rules, compare fees and expenses, and consider any … [Read more...]
Activists Turn Up the Heat on AT&T
Activist investor Elliott Management has amassed a $3.2 billion stake in AT&T and is advocating for the sale of underperforming assets. The investors claim that AT&T is more valuable than its recent share price would suggest and that it should be run more like Verizon. Connor Smith reports at Barron's: AT&T shares shot up after Elliott Management revealed a $3.2 billion stake in the company, as well as a plan the activist investor says could bring a 65% gain in the stock by the end of 2021. Elliott Management’s Jesse Cohn and Marc Steinberg wrote in a letter to AT&T’s … [Read more...]
Immigration Powering Canada’s Economy
High rates of population growth have helped Canada turn in an impressive GDP growth rate of 3.7% in the second quarter. Paul Vieira and Kim Mackrael report for the Wall Street Journal: BMO Capital Markets economist Doug Porter said one of the reasons Canada’s jobs market has been strong is the country’s growing population. The Canadian population expanded by more than 500,000 in 2018, largely because of immigration. Last year’s 1.4% increase was by far the fastest pace among the Group of Seven nations. While that helps explain Canada’s strong jobs data, Mr. Porter says, it “does not … [Read more...]
With This Plan You Can Save More in 8 Years than in 32 Without It
In October of 1999 I explained why there is only one right way to save; early and often. I wrote: Compound Interest: Your Key to Wealth Here’s an example of the power of compound interest that I hope you will pass on to your children and grandchildren. We have two hypothetical investors, Chad and Tad. Chad starts right out of his MBA program investing $1,200 a year starting at age 25 through the time he is 32-years old. He makes eight $1,200 investments. Chad then oddly becomes a monk, ending his savings days. Assume just a modest 9% annual return through age 64, just pre Chad’s 65-year … [Read more...]
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