AT&T is a stock we have long followed at Young Research. Here, Barron's outlines a bull case for the stock. You can read our latest thinking on AT&T in Intelligence Report. AT&T investors are getting the best of both worlds today. The stock’s 4.85% dividend yield is almost twice that of the 10-year Treasury and well above the 2% paid by the S&P 500. And with AT&T’s (ticker: T) stock trading at 13 times forward earnings, its valuation looks attractive. AT&T also offers growth potential. Under a President Trump, the telecom giant should benefit from a kinder … [Read more...]
Why do Big Banks Love Big Government So Much?
Despite the opportunity to repeal the Dodd-Frank financial laws that have plagued the banking industry since their passage, big banks are reluctant to support such a move. It turns out, big government is great for preventing new competition from emerging, and with barriers to entry so high, the big entrenched banks see more risk to their business from repealing Dodd-Frank than from keeping it. The Wall Street Journal writes: J.P. Morgan’s Jamie Dimon and Lloyd Blankfein of Goldman Sachs have urged against repeal, and other bank CEOs are also suggesting policy small-ball rather than wholesale … [Read more...]
Small Gov’t and Lowest Taxes Stimulate Miracle Growth
Donald Trump would be wise to follow the lead of international tax expert Dan Mitchell of The Cato Institute. To be blunt, I don't think the World Bank should exist. We don't need an international bureaucracy to promote economic development in poor nations. Particularly since the policies that we know will work - free markets and small government - oftentimes are hindered by intervention from multilateral institutions such as the World Bank. For example, I've spent the past few days in Vanuatu, where I've been fighting against the adoption of an income tax. Perhaps most laudable, the … [Read more...]
This Excellent Author is Back with an Amazing New Book
Michael Lewis, author of Moneyball, revisits market inefficiencies and why they exist in his new book The Undoing Project. Here William Easterly reviews the new book for The Wall Street Journal. Easterly calls the book "a spectacular account of two great men who faced up to uncertainty and the limits of human reason." Easterly writes: Michael Lewis’s brilliant book celebrates Daniel Kahneman andAmos Tversky, Israeli-American psychologists who are our age’s apostles of doubt about human reason. The timing is fortunate, given that overconfident experts may have caused and then failed to … [Read more...]
Is This the Devastating End of Diesels For All Time?
UBS has forecast that the emergence of inexpensive electric vehicle technology and stricter regulations on the pollution created by burning diesel will make cars powered by the fuel a thing of the past. Peter Campbell writes in the Financial Times: The falling costs of electric and hybrid vehicles will strip the fuel of its once-competitive price advantage, while tighter emissions regulation and soured public sentiment towards the fuel in the wake of the Volkswagen scandal will see its global share of car sales fall from 13.5 per cent to just 4 per cent by 2025, the bank predicts. In … [Read more...]
How to Know When to Buy Stocks
One of my favorite financial writers of all-time, the late, great Richard Russell would be making a huge call this week in his Dow Theory Letters. Why? Because on Wednesday, the Dow Jones Transportation Average reached a new record high—previously set in 2014—and the Dow Jones Industrial Average also hit a record high. According to Dow Theory, if the transports stocks, such as railroad, shipping, delivery trucks etc., which move the goods that are used to produce things, are hitting new highs and at the same time the industrial stocks that make the end product are also hitting new highs, … [Read more...]
The Best Performing Dow Stock Since the Election
This is disturbing. Since the surprise victory of Donald Trump, who of course ran as a populist, the best performing stock in the Dow is Goldman Sachs—the everyman New York investment bank. In the words of Matt Taibbi, Goldman is a “vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Let’s hope the recent price action in Goldman shares isn’t an indicator of the bank’s influence in Washington over the next four years. … [Read more...]
Fidelity Investments: 6 Simple Habits to a Better Life
You need a plan. That’s my #1 takeaway from Fidelity’s “Six Habits of Successful Investors.” One of the most common problems I come across when speaking with prospective clients of Richard C. Young & Co., Ltd., is their lack of a plan. A lot of times they own good stuff. But they don’t know how everything fits together. Picture this: You’ve set up a room full of presents, your family is anxiously awaiting by the fire, and you forgot to label the gifts. That’s how it feels to own good stuff without a plan. The power of investing to build wealth and achieve long-term goals has been proven … [Read more...]
Have Small-Cap Stocks Gone too Far?
Small-cap stocks continue their end of the year tear. From their November low, small-caps are up over 17%. Small-caps have rallied this much this fast a few times over the last three and half decades, but it was most often following a big-sell off or bear market. Small-caps may be higher a year from now, but overbought is probably an understatement at these levels. Note the two horizontal lines on the chart represent plus and minus two standard deviations. … [Read more...]
IoT a World Wide Competitive Advantage Game-Changer
Here ibm.com breaks the compelling story of how USA Cycling is harnessing the awesome power of the Internet of Things (IoT). USA Cycling Women’s Team Pursuit has joined forces with Watson IoT, IBM Analytics, and IBM jStart to incorporate real-time data analytics from the internet of things into their training. Before the USA Cycling teamed up with IBM Watson IoT and IBM Analytics, coaches would spend hours after every practice processing power meter and other disparate information, loading the data into spreadsheets, analyzing what could be helpful for tomorrow’s training session and how … [Read more...]
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