It is a sad day for General Electric. The Dow Jones Industrial Average index committee has decided to give GE the boot. GE was an original member of the Dow and had been part of the 30-stock index continuously since 1907. It was the Dow’s oldest constituent. Once America’s most venerable industrial company, GE stumbled badly at the hands of former CEO Jeff Immelt. Mr. Immelt should have been shown the door years ago, but the board kept him around. GE is now a shadow of its former self and the current CEO was pushed into cutting the dividend (another poorly handled decision) and selling-off … [Read more...]
Your Retirement Life: A Simple Way to Retire where You want to Live
You want to make sure your retirement plans are right for you. As I wrote to you yesterday, testing or experimenting by actually living in your chosen destination, for at least one season makes sense to me. You could also see what it’s like to be retired by taking a prolonged vacation. Put yourself in that retirement mindset. In other words, you are in charge of your retirement. It’s no secret retirees are moving to places where their money is treated with respect. But it’s beginning to become pretty crowded in certain spots. Take Nashville, TN for example. Cameron McWhirter reports at The … [Read more...]
This is One Ugly Looking Chart
Emerging markets stocks have gotten clubbed since hitting a high in January. The iShares Emerging Markets ETF is down 14% from its January peak and more than 5% on the year. And if you believe the charts, EM could hit an air pocket before the asset class sees support. For what was one of the most lauded investments of year, it has been an ugly five months. … [Read more...]
Crisis at Vanguard: Part I
Originally posted August 1, 2016. Vanguard Dividend Growth Closes to New Investors No, it is not the end of the world, but if you are a loyal Vanguard investor, as am I, having one of the few dividend-based funds in the world I advise for purchase close is a “Vanguard Crisis” for me as well as for many individual investors. How is this “Crisis at Vanguard” going to play out for the individual investor? I have been anticipating this “Crisis at Vanguard” for a long time. And it is going to become a broadening industry crisis, not just a “Crisis at Vanguard.” The handful of big mutual … [Read more...]
If You do this, Will You Improve Your Happiness?
“Americans are devoted to the pursuit of happiness. Unfortunately, research shows that many of us don’t actually know what makes us happy, so we end up pursuing the wrong things,” writes Dr. Shlomo Benartzi, professor and co-head of the behavioral decision-making group at UCLA Anderson School of Management. One way to help your happiness is to do a test. It’s called A/B testing. I’m familiar with A/B testing with our websites. Change a couple of words in the title of a piece and it’s shocking what a difference it can make in reader interest. As Dr. Benartzi points out: In research … [Read more...]
Short-Sellers Bet Against Twitter
After posting its first two profitable quarters, Twitter's share price has been soaring, but Ben Eisen reports for the Wall Street Journal that short sellers have the social media network in their sights. He writes: Now, as optimism about the company prompts a slew of analysts to lift their price targets, some short-sellers are betting on a reversal. They have amassed positions worth more than $2 billion this month through Thursday, according to s3 Partners, a financial analytics firm. “Shorts have been selling into this rally, backing up their original bets and looking to double up on … [Read more...]
America’s Lowest Unemployment Rate
It's been called the next Houston, or the next Atlanta, but people living there are having doubts about its rapid development. Nashville is the American metropolitan statistical area with the lowest unemployment rate, at 2.7%. Cameron McWhirter explains the city's appeal at The Wall Street Journal: As Southern cities draw more people from other regions, politicians, business leaders, economists and residents are increasingly focused on how to manage the growth to keep housing and other costs of living in line with wages. For decades, part of the South’s appeal has been low housing costs, … [Read more...]
Put the Odds on Your Side
Near the end of 1993, Debbie and I were hunkered down at The Dorset Inn in Vermont. Its wide pine board floors, restored tap room, gourmet dining room and antique-outfitted guest rooms make the small inn a special place to get away from the constant din of markets and politics. Events that fall were oddly connected to this very moment in American history. In November of that year President Bill Clinton told the world that North Korea must never be allowed to develop a nuclear weapon. And in December, Clinton signed NAFTA into law. Projections made in 1993 on how the Korean situation and … [Read more...]
Peak Greater Fool
The NYSE FANG+ Index has been on a tear that rivals the dotcom era mania. The chart below shows the relative performance of the NASDAQ composite from year-end 1997 (about 26 months prior to peak) through its collapse and the relative performance of the NYSE FANG+ index from April of 2016 (nearly 26 months ago). Both rose parabolically over these time periods and strongly outperformed the broader S&P 500. The good news, if you are growing tired of hearing about how much money your nephew is making in Netflix shares, is peak greater fool (or peak stupid if you prefer plain language) may … [Read more...]
Viva Las Vegas!
Whether Las Vegas real estate is in a bubble or not--this article leans towards not—Californians are finding greener pastures away from Gov. Brown’s reckless policies. As I’ve noted in the past, the direction of individual states is a geographical portrait of right vs. left (wrong) ideologies. Eli Segall writes from the Las Vegas Review-Journal: Las Vegas home prices are rising at one of the fastest clips in the country, with builders fetching record dollar amounts and resale values approaching prior highs. The growth is so fast that, according to a new report, prices here are the most … [Read more...]
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