Vanguard, which turned itself into the big kahuna of robo-advisors by offering a hybrid service with access to human advisers, is moving ahead with a digital-only offering with a bargain-basement price. Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more. CORONAVIRUS OUTLOOK Coronavirus Fallout Could Cut Wall Street Bonuses as Much as 40%, Expert Says: Private-equity firms and the rest of Wall Street could see a 30% to 40% drop in bonuses as the coronavirus bites into everything from asset values to deal flow, a compensation consultant predicted. PLANNING & INVESTING Investors, Fearing Defaults, Rush Out of Junk Bonds: The specter of widespread … [Read More...]
The 10 American Companies With the Most Cash
As the U.S. economy starts to shut down, cash is king. These 10 public corporations have a tremendous amount of cash on their balance sheets. [Read More...]
March 28 Update: US COVID-19 Tests per Day #TestAndTrace
It is one thing to finally have the capacity to do test-and-trace (not there yet). But we also need the infrastructure in place.Questions to ask:1. Who is in charge of the Test-and-trace taskforce?2. Do we have the tools ready to go? (Software, database, etc)3. Do we have the manpower trained? (Not healthcare workers)4. Do we have tools ready to track those in self quarantine? South Korea calls people twice a day in quarantine to see how they are doing, if they need medical help or food, and to schedule a follow-up test when they are feeling better.5. Do we have trained manpower to call people twice a day in quarantine?When I first started posting this data (thanks to the COVID … [Read More...]
Saturday links: winning the day
AutosBig rigs are going electric and they will be easier to drive. (nytimes.com)Some evidence that EVs really are more carbon efficient. (newscientist.com)EnergyWhat the closing of a coal-fired plant in Western Kentucky means. (abcnews.go.com)New York state’s last coal-fired plant is closing. (nytimes.com)EnvironmentChicago’s shoreline is getting pummeled by high Lake Michigan waters. (chicagotribune.com)Individuals are working to clean up shoreline plastic waste. (nytimes.com)Why we think about food waste differently after coronavirus. (esquire.com)TransportHow the airline companies are dealing with the logistics of canceled flights and storing planes. (nytimes.com)Coronavirus shutdowns can help us understand traffic congestion. (venturebeat.com)A growing number of planes are parked waiting out the pandemic. (bloomberg.com)ScienceCovid-19 is one of hundreds of thousands of viruses. (nytimes.com)How squid … [Read More...]
Quiz: Can You Guess What Tool This Is?
It's hammer time! [Read More...]
Trump demands appreciation from governors for coronavirus response
President Trump used his daily coronavirus to attack Democratic governors who in his estimation had shown insufficient gratitude for his administration’s response to the pandemic. [Read More...]
As Plummeting Oil Prices Compound Economic Concerns, Here Are 2 Things To Do This Week
Two weeks ago we saw a severe stock market decline, which was followed up with whipsaw volatility but a leveling off of prices overall last week. We are starting this week off with what appears to be somewhat of a panic by short-term market participants, with stock trading halted within minutes of opening Monday morning after a 7% drop (due to a exchange-imposed “circuit breaker” 15-minute trading halt – a rule in place, but never triggered, since 2013). As if the virus was not enough, now we have collapsing oil prices threatening the viability of an entire sector of the economy.If this week is the first time during the coronavirus scare that stock prices meaningfully diverge from the underlying businesses they comprise (a 2,000 point drop … [Read More...]
WSJ Wealth Adviser Briefing: Trucking Hurdles, Strongest Restaurants, Trapped Travelers
Serious strains are starting to appear in the $1.2 trillion market for loans to high-risk companies, which have borrowed record sums in recent years as investors chased bigger yields. The market, which survived the 2008 financial crisis, has become overstretched since then, say regulators and economists, who worry that it is now so big and risky its problems could amplify any economic damage caused by the coronavirus crisis. Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more. CORONAVIRUS OUTLOOK Truckers Facing Coronavirus Hurdles in Keeping Supply Chains Moving: Truckers are trying to navigate growing challenges on highways and at loading docks as they seek to keep supply … [Read More...]
March 21 Update: US COVID-19 Tests per Day
Tests per day is a key number to track (along with actual cases and, sadly, deaths). But total tests were a key for South Korea slowing the spread of COVID-19. South Korea has been conducting 15,000 tests per day with a 51 million population, so the US needs to test around 100,000 per day.Note: NYC and LA have stopped testing mild cases due to resource constraints. Hopefully testing will continue to improve, and we can test more people – this is important for test-and-trace.The US conducted 44,186 tests in the last 24 hours. That is progress.Note: About 14% of tests were positive in the most recent report (some are still pending). Click on graph for larger image.This data is from the COVID Tracking Project. Some states could … [Read More...]
What Companies Are Still Advertising
The ads for travel and restaurants may be gone, but some marketers have continued to advertise, and perhaps increased their budgets. [Read More...]
Quiz: How Much Spanish Do You Really Know?
Think you know Spanish? Find out. [Read More...]
Saturday links: not noticing
AutosAccording to this study Waymo leads the AV technology race. (cnet.com)Drivers are having a hard time figuring out roundabouts. (wsj.com)EnvironmentHow social distancing could help combat climate change. (nytimes.com)The coronavirus has dampened coal use and pollution for now. (cnn.com)BehaviorWhen did mundane home chores become ‘wellness’ activities? (elemental.medium.com)Six ‘negative self-help’ books worth checking out including “The Upside of Stress” by Kelly McGonigal. (markmanson.net)Why Covid-19 is uniquely anxiety producing. (wired.com)TechnologyWith everyone at home, families are recognizing the problem with their wi-fi. (wsj.com)The new MacBook Air is ‘nearly perfect.’ (daringfireball.net)Covid-19Researchers need blood samples from volunteers who have had Covid-19. (wsj.com)Blood therapy is one way forward in this situation. (marginalrevolution.com)How tele-health can help during a … [Read More...]
President Trump's top scientist, once sidelined, now faces a coronavirus test
As one of President Trump’s top scientific advisers, Kelvin Droegemeier is a key figure in the fight to curb the coronavirus pandemic. [Read More...]
WSJ Wealth Adviser Briefing: Coronavirus Cash, Millennial Passions, Young Homebuyers
Economists sharply cut forecasts for the U.S. economy this year, predicting it will contract in the second quarter and raising expectations for a recession as the coronavirus spread around the world. Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more. PLANNING & INVESTING As Coronavirus Spreads, Should You Have More Cash—or Less?: A bigger cash stockpile might give some people a sense of security, while others fear the bills and coins themselves will carry the virus. MARKET TALK From Dow Jones Newswires U.S. high-yield corporate debt spreads will suffer a “material increase” in the coming two quarters before easing somewhat thereafter, says Moody’s Investors … [Read More...]
Market Strategists Focus on December 2018 Lows For Support, Does That Make Sense?
It might surprise many investors to know that despite the violent stock market correction over the last few weeks, the S&P 500 index remains above the trough made during the late 2018 decline. Recession fears during Q4 2018 led to a 20.2% bear market from peak to trough over a three-month period, resulting in an intra-day low for the index of 2,346. Given that 2019 corporate profits were only modestly above 2018 levels, and considering that the economic weakness from COVID-19 is tangible and not just a “growth scare” (like 2018) market watchers who believe a drop back to that 2,346 is possible, or even likely, do not seem out of line to me. Even at this week’s low point (2,478) it would mean another 5% lower and a full 31… [Read More...]
Ford May Cut Dividend Soon
Ford has one of the largest dividend yields of any major U.S. company. It cannot maintain that dividend if its sales in China continue to plunge. [Read More...]
Dramatic Decline in Restaurant Traffic
There are some sectors that will be hit hard over the next several months: hotels, airlines, restaurants, movie theaters, sporting events, and convention centers. People will probably avoid these places as part of social distancing.Here is some restaurant data from OpenTable (HT FBC) Click on graph for larger image.This data shows the year-over-year change in diners as tabulated by OpenTable for the US, the states of Washington and New York, and a few impacted cities (Seattle, San Francisco, and Boston).This data is through March 12, 2020.Seattle and San Francisco saw a dramatic decline starting at the beginning of March. Starting a few days ago, restaurant traffic is declining sharply just about everywhere.Clearly the US will need to help the employees (and owners) … [Read More...]
Saturday links: toxic relationships
AutosTesla ($TSLA) just made its millionth car. (theverge.com)EnergyIs cheap oil going to put a dent in the growth of renewables? (ft.com)US coal use is plunging. (msn.com)Abandoned urban coal plants are an opportunity for redevelopment. (reasonstobecheerful.world)WaterThe battle over bottled water draining aquifers moves to northern Florida. (nytimes.com)A plan to harden Miami Beach’s defenses against rising sea levels is expensive and controversial. (wsj.com)Lake Mead is at its highest level in six years. (wsj.com)EnvironmentWhat climate change can teach us about dealing with Covid-19. (nytimes.com)Higher population density shows lower per capital carbon emissions. (phys.org)Starbucks ($SBUX) is testing more environmentally-friendly cups. (wsj.com)A supplement can help reduce bovine methane emissions. (newatlas.com)ScienceScientists found a caterpillar that eats plastic. (discovermagazine.com)This snail could … [Read More...]
Quiz: Can You Name These Biblical Figures?
Do you stand upon the Word of God? [Read More...]
'They know how to keep people alive': Why China's coronavirus response is better than you think
China has become a popular scapegoat for the coronavirus pandemic. But there are many lessons to be learned from how Beijing has responded to the disease, according to the top World Health Organization epidemiologist working on the coronavirus response there. [Read More...]
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