If you haven’t received an email selling you an annuity, get ready because the annuity onslaught is on. Yesterday I received one promising 4%. The fine print explains the egregious sales charges, penalties for early withdrawal (in case you need YOUR money), and a minimum holding period of five years. And your payment is contingent on the insurer being able to pay you. Let’s rewind here for a moment to the debacle that was 2008. If you recall, the insurance sector was on life support with big name insurers trading at less than $5 a share. And that’s not including the need for some to be … [Read more...]
IBM Beats the World to the First Standalone Quantum Computer
The race for quantum computing dominance is ongoing around the world, but IBM has beaten competitors everywhere by building the first standalone quantum computer. Quantum computing promises untold advancements in computing power, and leaders in the market could fundamentally change computing forever. Richard Waters reports in the Financial Times on IBM's achievement, writing: IBM has built the first standalone quantum computer, packing some of the world’s most advanced science into a 9ft glass cube. But so far there is only one — and while IBM does not rule out one day selling such … [Read more...]
Tucker Explains: Families are being Crushed by Market Forces
Anyone driving through rural New England knows this part of America is not open for business. Take a drive up route 16N in New Hampshire up to North Conway and you’ll see what I mean. And yet upon visiting Boston, New York City, and Washington D.C., it’s hard to miss the cranes dotting the skyscape. These cities and others are the islands of opportunity out of sight to much of America. The America that I grew up in is gone. Gone are towns like mine where my dad was a realtor and my mom was a teacher and my sister and I had dinner with them at night and we believed in the American … [Read more...]
The Other Oil Price Crash
In 2018 crude oil prices fell 44.1% from peak to trough, a roller coaster ride for producers and investors for sure. But another oil price has also been plummeting. Coconut oil prices fell 58.2% from a recent peak in January of 2017 to $759.66/metric ton (Philippines Bulk, CIF Rotterdam, Average of Period) in November of 2018. Lucy Cramer, writing in The Wall Street Journal explains how some negative attention from doctors put downward pressure on coconut oil, which had been rapidly gaining popularity. She writes: Consumption of virgin coconut oil—a pure form of the commodity that is … [Read more...]
Will Kroger Beat Amazon to High-Tech Grocery Shopping?
Kroger has teamed up with Microsoft to transform its stores with high-tech upgrades. Amazon has also been working hard to bring technological innovations to brick and mortar retail, with mixed results. It could be that Kroger and Microsoft beat Amazon to the punch in the high-tech retail business. Matthew Boyle and Dina Bass write in Bloomberg: Kroger Co. and Microsoft Corp. are joining forces to bring the ease of online shopping to brick-and-mortar grocery stores. Kroger, America’s biggest supermarket chain, has remodeled two stores to test out the new features, which include “digital … [Read more...]
Gold Begins to Shine
Market volatility and a weaker dollar has pushed the demand for gold higher. Investors are driving up the price for the safe haven precious metal. Neil Hume reports at the Financial Times: For much of 2018 gold was out of favour, hit by the strength of the dollar and interest rate rises in the US, which dented the appeal of assets such as the precious metal that offer no yield. That saw gold trade as low as $1,174 in August in spite of rising geopolitical tensions and the fallout from US-China trade war. Sentiment towards gold began to improve towards the end of the year as … [Read more...]
Is Mikaela Shiffrin the World’s Best Athlete?
As Barry Svrluga writes in The Washington Post, there comes a time in each great athlete's career where they become so dominant they must be compared across time rather than to their same-sport contemporaries. I’ve written about Mikaela Shiffrin before. Then, as now, I agree with Bode Miller--I’m not sure we’ve ever seen anyone better in the sport of skiing, male or female. At a certain point, the manner in which the best in any field evaluate themselves can’t be against other practitioners of that same pursuit. LeBron isn’t measured against his contemporaries; he’s measured against … [Read more...]
Apple Shares Clubbed Again
Apple shares were clubbed again yesterday after the company lowered revenue guidance for the upcoming quarter. The stock lost 10% yesterday—the biggest single day drop in six years. The shares are down 38% from their high last year, translating into a $450 billion loss in market value. Apple pointed the finger at China, but there is more to the story than the weakening of Asia’s biggest economy. A saturated smartphone market, missteps in select emerging markets, and a major mistake on pricing are all parts of Apple's problem. We have long harbored doubts about Apple’s ability to sustain … [Read more...]
“Trees Don’t Grow to the Sky and I see Clouds…”
In Springsteen on Broadway now showing on Netflix, Bruce Springsteen talks fondly of a big copper beech tree in front of his childhood home that was a symbol of times when he was able to escape life for a little while and be with his army men and play. Years later when writing his book, he jumps in his car and goes back to where he grew up and that big ‘ole tree was gone. It’s a powerful segment in his wonderful performance. One that’s still with me and one I think you will love too. Trees don’t grow to the sky. And sometimes they’re cut down. But in the case of Springsteen, the soul … [Read more...]
Remember This to Survive 2019 Market Turmoil
The new year is here, and America’s stock markets are weathering some turmoil after ending 2018 mired in volatility. There are some concerns about the future earnings potential of companies currently making up big parts of the major stock indexes. Apple’s current trouble is just the most recent example. Back in September of 2012, I reminded readers of one simple fact that can help them through hard times in the markets. I wrote “In the majority of cases, the price of common stocks has been influenced more markedly by the dividend rate than by the reported earnings.” I … [Read more...]
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