Bloomberg.com – Why Google and Amazon Aren’t in the Dow * High-priced shares would distort Dow Jones Industrial Average * DowDuPont breakup may be the occasion to reconsider members What’s more important, being in the Dow Jones Industrial Average, or showing the world you’re too cool for conventions like splitting your shares? It’s a question that… Continue reading Why Amazon and Google Are Not In The Dow
The Financial Times – ETF price wars deepen as Deutsche cuts fees at flagship fund The passive investment price wars deepened further this week with Deutsche Bank cutting the cost of its flagship junk bond fund and Franklin Templeton unveiling a series of cheap country-focused exchange traded funds. Deutsche Bank’s asset management trimmed the expense ratio… Continue reading A Price War In ETFs
Historically low cash levels are a worry. That is drowned out by massive flows in passive (ETF) funds.
The Wall Street Journal – Inflation: The Slumbering Giant Begins to Stir Rising prices seem primed to pick up the pace Central bankers are slowly unwinding the stimulus that has helped support the epic post-crisis rally in financial markets. Inflation has been quiet throughout, but there are signs it may soon be heard from.… Continue reading Consumers and Economists Less Convinced in Low Growth/Inflation Forever
CNBC – Tech shares are this bull market’s most important stocks right now Technology stocks have become more important for the S&P 500 in the last three months and have played a major role in this bull market’s gains. The high weighting and strong performance heading into earnings season have tied the S&P 500’s performance closely… Continue reading An Earnings Update
Comment Below is an Instagram video Trump posted late Friday where he says he made his decision on the Fed Chair and will announce it next week. Barron’s – Randall W. Forsyth: Our Next Fed Chief We weigh the choices in what will be President Trump’s most important financial decision to date A Fed led… Continue reading The Race For Fed Chair
The Wall Street Journal – Trump’s Approval Rating Falls to Lowest Level Since Taking Office Poll finds 38% approve of the job the president has done, a five-point drop from September Mr. Trump’s job approval rating stood at 38%, a five-point drop from September, the poll showed. Overall, 58% said they disapproved of the job Mr.… Continue reading Trump’s Approval Rating
Bloomberg – China’s Cryptocurrency Barons Seek New Life Across Asia A diaspora of crypto-dishards emerges after China’s crackdown China’s largest cryptocurrency operators are proving hard to keep down. From OKCoin to Binance.com, Chinese exchanges and wallet services are seeking a second life in friendlier Asian jurisdictions as the mainland clamps down on trading and coin offerings. They’re… Continue reading Chinese Crackdown Sends Bitcoin Traders to Yen
The Wall Street Journal – Jason Zweig: 30% of Your Assets in Bitcoin? Fund manager Bill Miller, who beat the market for 15 years in a row only to lose 55% in 2008, is bullish on bitcoin. The former manager of the Legg Mason Value Trust mutual fund, Mr. Miller now runs his own investment firm, Miller Value Partners… Continue reading Why 30% In Bitcoin Might Be A Good Idea
The Financial Times – The (non) disappearing Phillips Curve – the evidence This week, I will examine the evidence more carefully, and will conclude that while the PC might be in hiding, it still exists beneath the surface. From the enormous amount of empirical work available on this subject, I have tried to emphasise recent… Continue reading Making The Case The Phillips Curve Is Still Alive
The New York Times – Jeff Sommer: Why Bonds Aren’t Boring Right Now Stocks and bonds are complementary partners in standard portfolios. While stocks typically have a higher return potential, bonds are generally less risky and provide a hedge against a stock market plunge, as they did during the bear market that started in 2007. The… Continue reading The State Of The Bond Market