I wanted to share a nice collection of articles, written by Peter Lynch for Worth Magazine in the 1990’s. Peter Lynch is probably one of the best-known stock pickers of our time and certainly among the most successful. He was portfolio manager of Fidelity Investments’ Magellan Fund for 13 years, starting out in 1977 with $20 million in assets and winding up his tenure in 1990, with more than 1… To read the whole article, please click on the article title above. [Read More...]
As The World Burns…
As The World Burns… Tyler Durden Sat, 05/30/2020 – 23:30 Authored by Chris Martenson via PeakProsperity.com, Personal safety & security are quickly becoming more important in this era of growing social rage Decades of unfairness are now boiling over in the United States in the form of protests, riots, burning buildings and violence. Minneapolis is on fire – literally – and the unrest has spread to numerous other major cities. Last year (2019) The Yellow Vest protesters in France dealt with enormous amount of police violence and intimidation as they put life and limb on the line to try and wrest better economic and living conditions for themselves. The people of Hong Kong are back out in force again now that the Coronavirus threat has abated, seeking greater … [Read More...]
Stocks Slightly Lower into Final Hour on China Tensions, Global Recession Fears, European Debt Angst, Energy/Financial Sector Weakness
Broad Equity Market Tone:Advance/Decline Line: LowerSector Performance: Most Sectors DecliningVolume: Around Average Market Leading Stocks: UnderperformingEquity Investor Angst:Volatility(VIX) 29.8 +4.1% Euro/Yen Carry Return Index 124.11 +.39% Emerging Markets Currency Volatility(VXY) 10.86 +.18% S&P 500 Implied Correlation 66.1 +8.1% ISE Sentiment Index 99.0 -22.0 pointsTotal Put/Call .96 +12.9% NYSE Arms 1.55 -28.9% Credit Investor Angst:North American Investment Grade CDS Index 80.22 +2.7% US Energy High-Yield OAS 1,022.32 +.48%European Financial Sector CDS Index 85.28 +6.83% Italian/German 10Y Yld Spread 192.25 +7.75 basis pointsAsia Ex-Japan Investment Grade CDS Index 102.08 +1.53%Emerging Market CDS Index 290.25 -.31%iBoxx Offshore RMB China Corporate High Yield Index 165.90 -.32% 2-Year Swap Spread 9.25 +.25 basis pointTED Spread 21.75 -2.0 basis points 3-Month EUR/USD Cross-Currency Basis Swap -10.75 +.75 basis pointMBS 5/10 Treasury Spread 116.0 unch… [Read More...]
12 Ways to Watch TV After Cutting Cable
A little less than two years ago, Sarah and I made the decision to get rid of cable television in our home. We canceled our cable service, which was costing us about $100 a month, and moved to a mixture of services. When I updated things with our experiences after a year without cable, I noted that we had migrated to an over-the-air antenna coupled with a rotating selection of streaming services. After about a year of trying out different streaming services and combinations, I wanted to offer a summary of the options we’ve tried, how they worked for us, and what we’re going to do going forward. The pricing listed is current as of this writing, though it may have changed a … [Read More...]
Investing Blog Roundup: the Three Sides of Risk
You know the feeling when you come across a piece of work that is so good that you don’t even want to try to describe it? That’s how I feel about Morgan Housel’s deeply personal article below. I encourage you to read it. The Three Sides of Risk from Morgan Housel Other Recommended Reading Creating a Social Security Bridge Fund from Steve Vernon New Estimates of the Need for Long-Term Care from Joe Tomlinson The Tax Benefits of Semi-Retirement from Chris Mamula A Thrift Savings Plan Update from Christine Benz Six Ways the Coronavirus Will Make Inequality Worse from Noah Smith Vanguard and Fidelity Investors Didn’t Flinch as the Market Tanked from Ethan Wolff-Mann Does Covid-19 Prove the Stock Market … [Read More...]
Disney’s Dividend Suspension Increased My Dividend Income
Earlier this month, Walt Disney (DIS) suspended dividends for the first half of 2020. The company had just become a dividend achiever and had a ten year history of annual dividend increases under its belt. I viewed it as a great brand, with a strong moat and as a buy and hold forever type of a company. However, I also have a strategy that helps me avoid big mistakes and manage risk. In… To read the whole article, please click on the article title above. [Read More...]
Stocks Reversing Higher into Afternoon on Vaccine Hopes, Short-Covering, Technical Buying, Telecom/Homebuilding Sector Strength
Broad Equity Market Tone:Advance/Decline Line: Modestly LowerSector Performance: MixedVolume: Below Average Market Leading Stocks: Performing In LineEquity Investor Angst:Volatility(VIX) 28.9 -2.1% Euro/Yen Carry Return Index 121.57 -.5% Emerging Markets Currency Volatility(VXY) 10.95 +2.8% S&P 500 Implied Correlation 65.4 -1.8% ISE Sentiment Index 97.0 +29.0 pointsTotal Put/Call .85 unch. NYSE Arms 1.27 +10.4% Credit Investor Angst:North American Investment Grade CDS Index 86.95 +1.6% US Energy High-Yield OAS 1,065.41 -1.71%European Financial Sector CDS Index 94.61 +.28% Italian/German 10Y Yld Spread 208.50 -2.5 basis pointAsia Ex-Japan Investment Grade CDS Index 107.43 +.86%Emerging Market CDS Index 311.01 +2.28%iBoxx Offshore RMB China Corporate High Yield Index 166.77 +.04% 2-Year Swap Spread 9.5 +.75 basis pointTED Spread 24.75 -1.75 basis points 3-Month EUR/USD Cross-Currency Basis Swap -8.50 +.5 basis pointMBS 5/10 Treasury Spread 108.0 +2.0 basis… [Read More...]
The New New Cold War Is Pretty Much The Old New Cold War
The New New Cold War Is Pretty Much The Old New Cold War Tyler Durden Sun, 05/24/2020 – 00:00 Authored by Nicky Reid via Counterpunch.org, Remember when the Russians were coming? It seems like just last week Vladimir Putin was whistling the Soviet National Anthem just around every corner of main street. After the colossal clusterfuck of Hillary 2016, you couldn’t swing a dead cat in a news room without hitting another crafty Kremlin conspiracy. Those shifty almond-eyed bastards were the secret sauce behind everything that gave neoliberals heartburn; MAGA, Black Lives Matter, Wikileaks, Bernie Bros, Jill Stein, Sasquatch, Tulsi Gabbard, Colin Kaepernick, the female orgasm. They were behind it all! Putin was everywhere, like Elvis Presley in a Mojo Nixon song, and he was always up to something … [Read More...]
Thinking About Investing? Start Here First
This is a question that pops up over and over again, both in reader questions to me and in questions I see on countless personal finance forums. A person has stabilized their finances and has a solid job. They’re spending a little less than they earn, don’t have a whole lot of debt, and are starting to build up some money in their checking and/or savings accounts. They’re aware that people can get better returns on their money than they can get in their savings accounts by investing, but they don’t know where to start. What should a person do in that situation? X steps to take before investing for the first time 1. Cover your bases Before you consider investing your money, … [Read More...]
Beware of Tax Planning “Cliffs”
A tax cliff occurs when one additional dollar of income beyond a certain threshold causes a sudden increase in your tax bill (or, in some cases, health insurance costs). Most tax provisions don’t include tax cliffs. Instead, the effect of additional income is “phased in” over time. For example, with the American Opportunity Credit (for higher education expenses), you can claim the full credit if your income falls below a given threshold ($80,000 if single, $160,000 if married filing jointly). Then, as your income passes that threshold, the amount of credit you can claim is gradually reduced (“phased out”) until it reaches zero. But with provisions that include tax cliffs, the change happens all at once. You either get the full deduction/credit … [Read More...]
Stocks Slightly Lower into Final Hour on Global Recession Fears, Escalating China Tensions, Technical Selling, Transport/Financial Sector Weakness
Broad Equity Market Tone:Advance/Decline Line: Modestly HigherSector Performance: MixedVolume: Around Average Market Leading Stocks: Performing In LineEquity Investor Angst:Volatility(VIX) 32.2 -1.2% Euro/Yen Carry Return Index 120.32 +.13% Emerging Markets Currency Volatility(VXY) 11.48 -1.71% S&P 500 Implied Correlation 67.93 +.52% ISE Sentiment Index 111.0 +55.0 pointsTotal Put/Call .79 -16.8% NYSE Arms .96 +88.2% Credit Investor Angst:North American Investment Grade CDS Index 95.66 -.05% US Energy High-Yield OAS 1,289.28 +1.1%European Financial Sector CDS Index 110.19 +.88% Italian/German 10Y Yld Spread 239.50 +3.5 basis pointsAsia Ex-Japan Investment Grade CDS Index 119.13 -.97%Emerging Market CDS Index 341.98 +.42%iBoxx Offshore RMB China Corporate High Yield Index 164.58 +.08% 2-Year Swap Spread 9.75 -1.0 basis pointTED Spread 28.0 +.25 basis point 3-Month EUR/USD Cross-Currency Basis Swap -9.5 +.5 basis pointMBS 5/10 Treasury Spread 107.0 unch… [Read More...]
Dividend Increases Outpace Dividend Cuts in 2020
It has been a turbulent five months since the beginning of the year. The Corona-virus has swept the world, leading to millions of infections, and tens of thousands of people dying from the virus. A large part of the developed world is on a government imposed lock-down, which has devastated economic output, and led to high unemployment in the US. Last month, I shared my thoughts on the… To read the whole article, please click on the article title above. [Read More...]
How Huxley’s X-Club Created Nature Magazine & Sabotaged Science For 150 Years
How Huxley’s X-Club Created Nature Magazine & Sabotaged Science For 150 Years Tyler Durden Sat, 05/16/2020 – 23:30 Authored by Matthew Ehret via The Strategic Culture Foundation, Amidst the storm of controversy raised by the lab-origin theory of COVID-19 extolled by such figures as Nobel prize winning virologist Luc Montagnier, bioweapons expert Francis Boyle, Sri Lankan Cardinal Malcolm Ranjith and the head of Iran’s Revolutionary Guard, an elaborate project was undertaken under the nominal helm of NATURE Magazine in order to refute the claim once and for all under the report ‘The proximal origin of SARS-CoV-2’. This project was led by a team of evolutionary virologists using a line of reasoning that “random mutation can account for anything” and was parroted loudly and repeatedly by Fauci, WHO … [Read More...]
What To Expect from the Economy During Reopening
It’s a huge question weighing on the minds of many of us. What will happen to the economy as states start to reopen? Will we quickly return to the economic normal we enjoyed just before coronavirus? How long will that take? How will the various outcomes impact my life? Those are tough questions to answer because there’s a lot we simply don’t know yet. Will there be another wave of coronavirus? What if there’s a small coronavirus mutation that brings on another round of the disease? How will businesses respond? How will governments respond? We just don’t know all the answers yet. Given what we do know, however, we can make some educated guesses and then do some basic planning according to … [Read More...]
Investing Blog Roundup: the 8% Return Myth
This week, Christine Benz tackles the myth/misconception that delaying Social Security provides an 8% return, while test-driving the Open Social Security calculator as well as the SSA’s own benefit calculator. Waiting Often Makes Sense, But Your Actual Mileage May Vary from Christine Benz Other Recommended Reading How Does the Social Security Earnings Test Work? from Mike Piper Retroactive Applications for Social Security Benefits from Mike Piper Face It: This is a Good Time to Make a Will from Nicole Anzia Q&A: Coronavirus-Related Relief for Retirement Plans and IRAs from the IRS Government Orders Alone Didn’t Close the Economy. They Probably Can’t Reopen It. from Emily Badger and Alicia Parlapiano Your Financial Advisor May Not Actually Be an ‘Advisor’ from Greg Iacurci Empathy … [Read More...]
Stocks Higher into Final Hour on Economy Re-Opening Optimism, Oil Gain, Short-Covering, Energy/Retail Sector Strength
Broad Equity Market Tone:Advance/Decline Line: Substantially HigherSector Performance: Almost Every Sector RisingVolume: Around Average Market Leading Stocks: Performing In LineEquity Investor Angst:Volatility(VIX) 29.2 -7.3% Euro/Yen Carry Return Index 119.84 +.44% Emerging Markets Currency Volatility(VXY) 11.81 -1.83% S&P 500 Implied Correlation 69.10 -4.19% ISE Sentiment Index 97.0 -18.0 pointsTotal Put/Call .86 +4.9% NYSE Arms .88 -17.0% Credit Investor Angst:North American Investment Grade CDS Index 92.0 -.38% US Energy High-Yield OAS 1,270.72 -.65%European Financial Sector CDS Index 106.85 +.06% Italian/German 10Y Yld Spread 238.25 -8.25 basis pointsAsia Ex-Japan Investment Grade CDS Index 118.25 -1.34%Emerging Market CDS Index 333.01 -2.63%iBoxx Offshore RMB China Corporate High Yield Index 164.01 +.02% 2-Year Swap Spread 10.5 -1.0 basis pointTED Spread 33.5 -3.75 basis points 3-Month EUR/USD Cross-Currency Basis Swap -6.5 -.75 basis pointMBS 5/10 Treasury Spread 109.0 -8.0 basis pointsEconomic Gauges:Bloomberg Emerging… [Read More...]
Dividend Aristocrats Keep Performing Well in 2020
The dividend aristocrats list includes companies that have managed to increase dividends for 25 years in a row. The list has very stringent criteria for qualification, including being a member of the S&P 500 and having a certain market capitalization and liquidity. There were 64 dividend aristocrats at the end of 2019. After the spin-off of Otis Elevator and Carrier from United Technologies,… To read the whole article, please click on the article title above. [Read More...]
"Your Every Move Will Be Watched": Post-COVID Offices To Resemble China’s Social Credit System
“Your Every Move Will Be Watched”: Post-COVID Offices To Resemble China’s Social Credit System We recently detailed how when America’s white collar work force returns to their offices, business complexes, and sky scrapers, their experience in the post-COVID ‘reopened’ work space is likely to resemble something more like an airport security check zone, complete with invasive protocols like frequent temperature checks and ‘social distancing’ and health surviellance, as well as Plexiglass eclosed cubicles and HR-style enforcement monitors. If all that sounds like a hassle, the WSJ has since taken up the question of America’s near-future office spaces, and the end result looks to be worse than expected. “Your every move will be watched,” the report emphasizes: In Midtown Manhattan, thermal cameras will … [Read More...]
Allstate Drivewise
Sears, Roebuck and Company launched Allstate in 1931, originally selling auto insurance through the mail. Over nearly a century, Allstate has expanded its portfolio to include business, condo, home, life, motorcycle and renters insurance products. In a 2018 survey, the Insurance Information Institute ranked Allstate the fourth largest auto insurance company based on the number of direct premiums written. The Better Business Bureau gives Allstate an A+ rating, while AM Best rewards the carrier with an A+ (Superior) financial strength rating. Most Allstate auto insurance customers already know about the provider’s many discount programs. Allstate also offers a high-tech program for reducing your policy premium, called Drivewise. The Drivewise program uses your car’s technology to monitor your driving habits. Drivewise is a great way to review and improve … [Read More...]
Inherited HSA Rules
A reader writes in, asking: “After last week’s article discussing the rules for inherited IRAs, I would be interested to hear about the rules for inherited HSA accounts. We have been using my HSA effectively as a ‘third retirement account’ contributing the max each year regardless of likely medical expenses, since we can take no-penalty distributions for any purpose after age 65. So there’s a good chance that the account will outlive me…or even both of us.” This is an easy one. There’s no such thing as an inherited HSA — at least not in the sense that there is with an inherited IRA (in which a beneficiary can continue to own the inherited IRA, with its own set of … [Read More...]
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