According to Energy Transfer Partners CEO Kelcy Warren, making money in pipelines right now is so easy a monkey could do it. That follows a strong earnings season for pipelines, a booming U.S. oil industry, and regulatory relief from the Trump administration. In The Wall Street Journal, Ryan Dezember reports on these developments, writing: From a peak in August 2014, the Alerian MLP index lost 63% before bottoming out in February 2016. MLP shares rebounded somewhat alongside rising U.S. oil prices but were dealt a fresh blow in March. On March 15, the Federal Energy Regulatory … [Read more...]
Will Turkey’s Rate Hike Be Enough to Calm Lira Traders?
Once confidence in a currency is lost, it's hard to get it back. Turkish central bankers are trying hard to hold the public's confidence in the lira by hiking interest rates to 24%. At The Wall Street Journal, David Gauthier-Villars explains the central bankers' efforts to maintain control. He writes: The monetary-policy decision could help ease investor concerns over the central bank’s independence from Turkey’s President Recep Tayyip Erdogan, whose call for lower rates earlier Thursday had weighed heavily on the lira. “This was much bigger than expected. It sends a signal to the market … [Read more...]
Apple Watch Could Save Lives with New Capability
Apple has built into its new Apple Watch the ability to perform an electrocardiogram, or ECG. Owners who find troubling data from the test could then share it with their doctor. NPR's Avie Schneider reports: Apple unveiled three new iPhones, including two with bigger displays, but perhaps the more dramatic announcement from Cupertino, Calif., on Wednesday was its new Apple Watch, with the new health-related tools. The Apple Watch Series 4 will let users take an electrocardiogram, or ECG, and share it with their doctor. Apple said it's the first ECG product offered over the counter … [Read more...]
When You Plan Ahead, Damage Can Be Minimized
Hurricane Florence is bearing down on South Carolina, with some estimates suggesting four FEET of rain could swamp the coastal towns. Even for seasoned hurricane survivors, that’s a mega-monsoon. Debbie and I have encountered many hurricanes in our decades of East Coast living. Most recently our Key West home was visited by Hurricane Irma, which left much of the Keys devastated. Our home was left relatively intact compared to some neighbors. In 2004 I outlined some of the preparations built into our home. My point then was that when you plan ahead, damage can be minimized. My Big … [Read more...]
Beyond Bitcoin, Has Crypto-Boredom Set in?
It has been a hard year for crypto-currencies, especially once you look beyond bitcoin. Since June 30, bitcoin is down 1.7%, but as Paul Vigna writes in The Wall Street Journal, "Ether, the second most-valuable cryptocurrency behind bitcoin, is down 53% since June 30, while XRP, also called ripple, is down 43%. Bitcoin Cash is down 37%, and EOS is down 38%." Over the years I've spent time talking to you on this site about the dangers and drawbacks of crypto-currencies. Here's a brief sample of what I have written in the past: Can Crypto-Currencies Ever be Safe? Steve Forbes: Here’s … [Read more...]
Cable Killer: Verizon to Begin 5G Rollout
Verizon is rolling out 5G internet and TV service in October to an initially small number of American cities. 5G is the next major advancement in Internet technology and will compete directly with cable. Verizon has said its internet will give users faster speeds than cable, without the wires. Bloomberg's Scott Moritz reports: Verizon Communications Inc., taking a key step toward rolling out speedier internet and pay-TV service across the U.S., will start offering a fifth-generation package on Oct. 1 in four cities, with signups beginning this week. Would-be customers in those initial … [Read more...]
Is Canada About to Break in NAFTA Talks?
Reuters reports that Canada may be about to offer concessions to the United States on dairy imports to get NAFTA moving forward. This would be a big change in posture for the Canadians and a win for the Trump administration. The pressure is on the Canadian side as the U.S. and Mexico have already agreed to a deal. David Ljunggren and David Lawder write for Reuters: Canada is ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to rework the North American Free Trade Agreement, two Canadian sources with direct knowledge of Ottawa’s … [Read more...]
How to Play the Online Shopping Trend without Betting on Amazon
The shift toward online shopping is a formidable trend that shows few signs of slowing anytime soon, but outside of Amazon (which appears to be priced for perfection) there aren't a lot of good ways to gain exposure. JP Morgan's real estate arm has found one. The company is playing the ecommerce trend by investing in industrial real estate, but not the typical warehouses that Amazon and others use to store their goods. JP Morgan is buying freight-transportation properties. These are properties that are used to move, prepare, or sort goods for delivery. Think truck terminals and … [Read more...]
Failed Fiduciary Rule Spells Caution for You
Time and time again the leadership at big brokerage houses and insurance companies seem to have their own best interests in mind rather than their clients'. They allow their army of salesmen to prey upon the public, cloaked in fancy names such as Advisor with an “O”, Sr. VPs, and/or you fill in the blank with an “important title” while following a less strict “suitability” rule. I have explained the benefits of the fiduciary rule to readers before. See here, here, and here for an introduction to the idea. Like clockwork they fail to look out for those they’re supposed to serve, YOU, the … [Read more...]
As Economy Booms, Trucking Jobs Soar
As the economy grows quickly, trucking companies are hiring drivers at a rapid clip. In last month alone, trucking fleets added 5,700 drivers. Jennifer Smith reports on the trend at The Wall Street Journal: It is the fourth straight month of growth in a sector where employers have been buying more trucks and raising driver pay as they look to expand freight capacity. Trucking companies have added 30,600 jobs since August 2017, the most since employment in the business grew by 37,400 jobs in the 12 months ending August 2015. “You hear a lot from employers about how hard it is to hire in … [Read more...]
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