I’ve been slammed over the last few weeks talking with prospective clients. We are open for business is an understatement. One area that I continue to hear about from prospective clients is how they wish they didn’t buy that annuity. I’ve written to you before about these toxic products (for example here, here, here, here and here). The issue is that annuities are sold with a full-court press on those that don’t invest for a living. They’re promised rates of return that sound good on paper but will be wiped out if the insurer goes bankrupt and the government doesn’t bail it out. With … [Read more...]
This is Going to Profoundly Change the Lives of Millions
Small-Scale solar power is going to profoundly change the lives of millions, especially in Africa. In Rwanda, one of Africa's most densely-populated countries, it can cost as much as $2,000 to connect a house to the grid. After an 80% fall in the cost of solar panels over the last six years, innovations in financing, and the development of electronic devices that use less juice (think LED bulbs), an off-grid solar setup that has immense use in Rwanda can be had for a tenth of the cost of connecting to the grid. In a country where fewer than one in ten homes have access to electricity, the … [Read more...]
Trucking Companies are not Upgrading or Expanding Fleets
It is hard to look at the above headline and not be concerned about U.S. 2017 economic momentum. The Wall Street Journal paints an unpleasant picture: Orders for heavy-duty commercial trucks in North America plummeted 46% in October from the same month last year, providing a grim outlook for truck manufacturers in the coming year. In a month when fleets often set their plans for adding new trucks and replacing older rigs for the following year, market forecaster ACT Research’s preliminary order October volume was 13,900 vehicles, flat from September’s order volume and extending a trend of … [Read more...]
Fidelity Investments: IRS Required Minimum Distribution
Worried about your required minimum distribution (RMD, aka minimum required distribution, MRD)? Don’t be. Fidelity’s got you covered. Here are the answers to some frequently asked questions regarding RMDs. General information What are minimum required distributions (MRDs)? Minimum required distributions, or MRDs, are mandatory, minimum yearly withdrawals that generally must be taken starting in the year you turn 70½. While there is a minimum amount you are required to withdraw in order to avoid severe penalties, you can always take more than the MRD amount. You generally have … [Read more...]
Who Are America’s Smartest Companies?
MIT Technology Review has announced its eagerly awaited "50 Smartest Companies" winners list. And the new rankings are loaded with surprises for investors and technology mavens of all stripes. Each year we identify 50 companies that are “smart” in the way they create new opportunities. Some of this year’s stars are large companies, like Amazon and Alphabet, that are using digital technologies to redefine industries. Others are wrestling with technological changes: companies like Microsoft, Bosch, Toyota, and Intel. Also on the list are ambitious startups like 23andMe, a pioneer in … [Read more...]
A First of its Kind Building in the U.S.
To deal with a growing shortage of space for building high in demand industrial warehouses in many American cities, Prologis is building new three story 580,000 square foot warehouse just outside of Seattle. The WSJ has the story. Prologis Inc., the world’s biggest warehouse owner, is starting construction next year on a three-floor 580,000-square-foot warehouse just outside downtown Seattle that is scheduled to be completed in 2018, the company told The Wall Street Journal. The building will look like two warehouses stacked on top of each other, with a truck ramp to loading docks on the … [Read more...]
Tidal Wave of Junk Bond ETF Outflows
Inflation and uncertainty over future interest rate moves by the world's central banks are causing junk bond investors to flee for the exits. Over the last week a wave of money has exited the junk bond market. The chart above displays the outflows from junk bond ETFs HGY and JNK. After I wrote to you yesterday, investors pulled money out of of junk bond ETFs yet again. The Wall Street Journal's Chris Dieterich writes: The bond market’s October retreat fueled record withdrawals from some popular exchange-traded funds, the latest sign of investor anxiety over inflation. Investors pulled $998 … [Read more...]
The Looming Crisis in the Auto-Loan Market
The auto loan market and the sub-prime auto loan market have boomed in recent years. The Financial Times reports that cracks are already starting to emerge in the market for car loans with repossessions at their third highest level in the last twenty years. The only time repossessions were higher was during the 2008 / 2009 financial crisis. In other words, we have recessionary levels of car repossessions at a time when the economy is still expanding. What happens during the next recession? Repossessions in the US hit 1.6m in 2015, the third highest level on record for data going back 20 … [Read more...]
Gated Enclaves that Cater to Horse Lovers
The Wall Street Journal unveils a terrific new high-end concept in the niche residential gated communities marketplace. WSJ informs its readers that a select group of residents at Brays Island Plantation, a 5,500-acre gated community in coastal South Carolina, are pampered with massages, acupuncture therapy and custom diet plans. Gated enclaves that cater to horses—and the home buyers who love them—are laying on equine-friendly amenities like never before, with state-of-the-art stables, jumping and dressage rings, polo fields and miles of maintained trails. Residents can saddle up borrowed … [Read more...]
GE’s Big Bet in Oil & Gas Can Create a Powerhouse
No doubt about it. GE now has a great opportunity to score big in a recovery in the energy industry. The Wall street Journal explains the breaking news on a huge potential merger. General Electric Co. reached a deal to combine its oil-and-gas business with Baker Hughes Inc., creating a publicly traded energy powerhouse that would give GE a cost-effective way to play any recovery in the industry. GE will contribute its oil-and-gas business and $7.4 billion through a special one-time cash dividend of $17.50 for each Baker Hughes share. The new company will be publicly traded on the New York … [Read more...]
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