The WSJ reports that the IPO market is booming. There have been 120 companies that have raised $35.2 billion in the first six months of 2018. That’s the fourth-busiest six-month period on record. And that’s not even counting initial coin offerings (ICOs) which are booming as well even as bitcoin prices plummet. Rising IPO volume isn’t necessarily a predictor of a market top, but it should be viewed as a signal of caution. “Our global IPO pipeline is stronger now than it’s been since the financial crisis,” said Evan Damast, global head of equity and fixed income syndicate at Morgan … [Read more...]
Amazon Revving Up Whole Foods
In the short time Amazon has owned Whole Foods, it has worked to apply its own strengths to the grocery business's operation. Heather Haddon and Laura Stevens report: A year after Amazon bought Whole Foods for $13.5 billion, the e-commerce company is making its mark on the nation’s largest natural and organic supermarket. Year-over-year sales at Whole Foods stores are up since the takeover, as consumers respond to new delivery options and enhanced benefits for Amazon Prime members. The store recently introduced 10% discounts for Prime members at all 460 stores, and it offers two-hour delivery … [Read more...]
Winning: Trade Edition
There is increasing concern about the Trump administration's trade policies. The Google trends chart for the search term trade war has more than doubled in recent weeks (though Kim Kardashian is still about 7X more popular). President Trump says trade wars are easy to win. Maybe he has a point. U.S. stocks have held up much better than Chinese shares in recent months. In all seriousness, investors should keep a close eye on future trade developments. Don’t forget though, view Trump's actions through the lens of somebody who believes what he is doing is part of an ongoing … [Read more...]
How do Millennials’ Finances Stack up Against Gen-X?
Researchers at the St. Louis Federal Reserve were tired of trying to decipher contradictory evidence on Millennial finances, so they decided to run their own study. The researchers compared Millennials' 2016 finances to (same age) Gen-Xer finances in 2001 to get an idea of their relative financial well-being. Here are the key takeaways from the study: Millennials and Generation X were the youngest working generations in 2016 and 2001, respectively. How do their balance sheets compare? Because of fewer assets and more debt, millennial households had an average net worth of about $90,000 … [Read more...]
The Most Important Thing in Investing
Back in 2006 I was celebrating 20 years of writing Intelligence Report. Debbie and I were in Vermont, and had just visited Vermont’s Authentic Designs to purchase lighting fixtures. The shop uses 150 year-old machines to manufacture colonial and early American lighting fixtures. There, on one of the machines for all the craftsmen to see was taped a sign that read “Simple is Sophisticated.” After reading that taped up sign in Vermont all those years ago, I adopted “Simple is Sophisticated,” as a personal mantra to keep me focused on the essential elements of my investment strategy. The most … [Read more...]
Amazon Makes Move in Pharmacy
Amazon announced yesterday that it is buying Pillpack. Pillpack is an innovative little company that pre-packages medicines for consumers who take multiple drugs regularly. The big pharmacy stocks predictably sold-off on the news that big-bad Amazon is entering their business, but there is much less to be concerned about than meets the eye. Selling prescription drugs is much different than selling Amazon Kindles. A quick review of the Pillpack website shows that. It takes 10-15 minutes to even signup. There is insurance that needs to be dealt with, regulation, pharmacy benefits managers, … [Read more...]
Glamping is Big Business
As summer kicks into high gear, consider hitting the road for your next vacation. I wrote this piece about "glamping," back on December 4, 2017, but it can still inspire you today. Glamping is a big business as pointed out here by Spencer Jakab of the WSJ: For anyone who has gotten stuck on a mountain road behind a massive recreational vehicle, get used to it, there are a lot more on the highway. Recreational vehicles, ranging from bus-sized motor homes to retro trailers, have been a boom-and-bust industry since they first became popular in the early 1970s. Now a wave of retiring baby … [Read more...]
Conagra to Buy Pinnacle Foods: Is this the Beginning of a Mega-Consolidation?
News broke yesterday that Conagra Brands will buy Pinnacle Foods, tying together two midsize American food brands. The big companies selling food in America have been having trouble, and it's worth considering if this may be the first step in what may be a necessary consolidation of the industry. The WSJ Logistics Report explains: Big Food is getting even bigger. Conagra Brands Inc. will pay $8.2 billion to buy Pinnacle Foods Inc., doubling down on frozen foods and taking a new step toward resetting food supply chains in a fast-changing market. The deal would create a conglomerate with about … [Read more...]
Amazon Outsources Last-Mile Delivery
Amazon is encouraging individuals to launch delivery businesses that will lease van fleets from Amazon to give the company additional options for last-mile delivery. Last-mile delivery has been a tough nut to crack for Amazon. Outsourcing delivery to startups seems like an odd way to save money. That is, until you recognize the real game that Amazon is playing. The U.S. postal service is used for much of Amazon’s last-mile delivery. With President Trump calling for higher shipping prices for Amazon, the e-commerce giant is in a weak negotiating position. Creating a network of delivery … [Read more...]
State Tax Update: Are Yours Going Up?
On this site, I regularly highlight the good and bad of states' tax structure (read here, here, here, here, and here for starters). I want business owners, investors and retirees to have the best information possible in order to make their decisions about where to operate, live, and retire. Now, The Tax Foundation has released an update on state tax changes set to take effect on July 1. Some of these changes could be consequential to your income, purchasing power, or business operation. Take a look and see if any of these changes will affect you. From Morgan Scarboro and David Raymond at … [Read more...]
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