“Give me your tired, your poor, Your huddled masses yearning to breathe free, The wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed to me, I lift my lamp beside the golden door!” Statue of Liberty poem
A political crisis in the fourth largest economy in Europe has spilled over into the financial markets. Global stock exchanges greeted Italy’s present political dysfunction by registering major declines–and the crisis may just be getting started.
Back in the day, money managers were revered. News stories spotlighting the year’s “hottest hands,” or that hedge fund’s rising star were all the rage. Retail investors chased performance and paid for it. But times are changing, and simply beating the market for a year or two fails to impress most investors.
Two years ago, the experts were telling us that the price of oil would continue to fall. Twelve-dollar oil was a real possibility. The end of OPEC was nigh as well as their ability to influence geo-politics. It appears those predictions were premature.
After a grueling two-day inquisition before both houses of congress, Mark Zuckerberg, the founder of Facebook, has left the building. The question is how much did anyone really learn about the privacy issues of this social media behemoth?
Plenty of investors will be faced with an unpleasant surprise. Any day now, one or more of the mutual funds that you own will be sending out their capital gain distributions for the year. The tax hit could be quite large this year.
So far, the political tension between the United States and North Korea has been confined to a war of words and not much else. This week’s verbal threats and counter-threats, however, reached a new level. What might that mean for the financial markets?
We are a country divided. Washington is paralyzed. Half the country considers our president a joke and any and all legislation is dead on arrival, according to the TV talking heads. Social media is filled with outrage and despair. As a result, Americans are supposedly wringing their hands, or worse, hiding under the covers. Don’t you believe it! To hear the media tell it, on one side of this nation are the ultra-left, tree-hugging liberals, who want government to do everything by taking from the rich and giving to the poor. On the other side, are the red-necked conservatives, who…
Despite a bitterly contested battle by brokers, banks and insurance companies to kill it, the on-again, off-again Department of Labor Fiduciary rule becomes effective June 9, 2017. Investors should cheer the news. That’s right; it is no longer just a slogan that slick marketers use to woo unsuspecting retail investors into their fee-based, commission-based, fee-sharing web of duplicity and immoral behavior. Since I am already a fiduciary, I tried over the years to advise readers on what is in their best interests since their advisers certainly were not. The new law changes all that. If your advisor, broker, wealth manager,…