Gallup Poll Says Government is America's Top Problem Did You Know? Did you know that the tiny country of Switzerland has two cities that are among the world’s most densely populated by millionaires? According to Wealthinsight and Spears, almost three in ten residents of Zurich are millionaires and almost two in ten residents of Geneva are millionaires. New York is the U.S. city with the highest concentration of millionaires at 4.6%. (CNN) What We're Reading: #1 Question to Ask Your Financial Advisor Finally, something #RI is a leader in. Correlation or causation? #RI leads U.S. in pot … [Read more...]
This Investing Fad Never Goes Out of Style
The only investing fad that never seems to go out of style on Wall Street is, well, fad stocks. King Digital Entertainment, maker of the popular…err getting less popular, Candy Crush Saga app is today’s poster boy for fad stocks. If you aren’t familiar with Candy Crush Saga (you’ve dodged one of life’s great hardships), think of it like Angry Birds—lots of levels that get more challenging as you move higher—but less successful. When is the last time you played Angry Birds? Candy Crush is King Digital’s primary source of revenue. And it has been a big winner for the company. King … [Read more...]
World in Crisis: Oil Shrugs and Heads below $100
Imagine only 10 years ago, before most Americans had heard of “hydro-fracking” or “horizontal drilling.” Imagine what a war in Iraq (the eighth largest oil producer) and skirmishes on the border of Russia (the third largest oil producer) would have meant to the price of oil? Prices would have skyrocketed. But today, in the face of instability in some of the world’s most vital oil producing regions, the price of oil is headed down. As you can see in the chart below, on July 31 the price of WTI crude dropped below $100 a barrel for the first time since May, and is now at levels not seen since … [Read more...]
Mutual Funds of the Future
"Never pick a stock again," proclaims the headline of a recent article by Money. The California Public Employees Retirement System is considering making cuts to its allocation of active managers. Meanwhile, robo-advisors are hawking a “new” model of investment management centered around broad based index ETFs (I’ll have more on robo-advisors in a future post). The financial press and many more in the finance industry are hailing index based ETFs as the savior of the investing masses. Is this the real deal? Are we finally seeing a secular shift in the money management business or is … [Read more...]
Higher Wages on the Horizon
Job openings hit a more than 13-year-high yesterday. The rising number of job openings signals continued improvement in the labor market. Job openings are also up as a percentage of the unemployed. There is now a job opening for every two unemployed workers. The higher number of openings signals that stronger wage growth may finally be on the horizon. My chart shows the ratio of job openings to unemployed workers versus the annual rate of change in the employment cost index. Job openings tend to lead wage growth by about six months. If we are to believe the signal being sent by the job … [Read more...]
Survey Says? Optimism Growing.
The NFIB Research Foundation’s survey of Small Business optimism ticked up this morning, continuing a trend of recovery from some of the worst readings ever. But optimism still hasn't reached its historical mean, and this late in the business cycle, it’s hard to imagine small business owners reporting robust optimism before the economy is tested once again. … [Read more...]
The Monday Melee: Friday’s Bounce Explained?
Is This Why Markets Bounced on Friday? What We're Reading: Opportunity in Africa? (Quartz) Minimum Wage No Free Lunch. Cafe charges customers "minimum wage fee" The Richest Person In Your State (zerohedge.com) Rise of the machines. This is frightening. (Quartz) Regulatory overreach is costing home buyers. (CNN Money) Put that hamburger away! (theguardian) Ebola not easily spread: Doctor … [Read more...]
Best Day to Buy a New Car: This Sunday
Here’s a fun post for you. According to data from Truecar, presented in the nifty infographic below, the best month of the year to buy a new car is August, the best day of the week is a Sunday, and the best time of the month is in the first few days of the sales month (not the same as calendar month—who knew). That makes this Sunday the best day of the year to buy a new car. Lucky you, if you are in the market for a new car. What if you already have plans this Sunday? No need to panic. Saturday is the second best day of the week to buy a new car. And when I say car, I really mean … [Read more...]
Grateful for Cash
“You ask me where the four winds dwell In Franklin's tower there hangs a bell It can ring, turn night to day Ring like fire when you lose your way” --Franklin’s Tower, Grateful Dead Having a stash of cash outside of your portfolio has always made sense to me. You never know when the lights will go out. And that’s when you realize you need it. … [Read more...]
Best Bond Funds to Buy Now
What are the best bond funds to buy now? This is a simple question that is often unnecessarily complicated by investors. The best bond funds to buy now are the same bond funds you should have bought yesterday and the same bond funds you should buy tomorrow. But isn't past performance a poor predictor of future results? Indeed it is, but the best bond funds are not those that earned the highest return in any given year. The best bond funds are the cheapest bond funds. Cost is one of the most reliable predictors of mutual fund performance. Who offers the cheapest bond funds? For my … [Read more...]
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