Evening HeadlinesBloomberg: U.S. Urges Immediate Cease-Fire in Syria as It Sanctions Turkey.Hong Kong Protesters Rage Against Corporate China’s Growing Control. U.S.-China Deal: JPMorgan Sees Stocks Upside, BofA on Yuan. Boris Johnson’s Brexit Deal On Knife Edge as EU Needs More Time.Europe’s Embargo Threat Over Syria Attack Rings Hollow in Turkey. Hong Kong Under ‘De Facto Curfew’ as Subway Stations Shut Early.Asia Stocks Set to Slip Amid Trade Deal Impasse. Asian stocks are set to open lower with little direction from their U.S. peers after China said it wanted more talks before signing a trade deal. Oil retreated. Australia’s shares slipped at the open, while futures were lower in Hong Kong, with modest gains seen in Japan as traders there … [Read More...]
CME Slams "Patently False" Vanity Fair Trump-Frontrunning-Trades Allegations
CME Slams “Patently False” Vanity Fair Trump-Frontrunning-Trades Allegations Writing in Vanity Fair earlier this week, former Goldman Sachs employee William Cohan penned an explosively titled article – “The Fantastically Profitable Mystery of the Trump Chaos Trades” – that raises the possibility traders were tipped off to what President Trump was about to tweet ahead of time and bought massive S&P 500 futures positions right before big market swings. The president’s talk can move markets – and it’s made some futures traders billions. Did they know what he was going to say before he said it? “There is definite hanky-panky going on, to the world’s financial markets’ detriment,” One longtime CME trader says, who has been watching with disgust says he’s never seen anything quite like these … [Read More...]
Investing Blog Roundup — Wellness: What Actually Works
My favorite read this week was not directly finance-related at all. Rather, it’s just a brief, research-founded discussion of things that we know work to improve wellbeing in various parts of your life (physical health, mental health, work-life, etc.). As with the best personal finance advice, it’s generally pretty simple stuff. Wellness: Here’s What Actually Works from Brad Stulberg Other Recommended Reading Preparing for the Next Recession from Darrow Kirkpatrick Why Risk-Profile Questionnaires Don’t Work from Allan Roth Learn More About Taxes: Online Courses, Classroom, Books from Harry Sit Second Careers Late in Life from Kimberly Blanton Solar Energy Credit: How Much of the Cost of a Roof Replacement Can Be Included in Calculating the Credit? from Joseph Percopo … [Read More...]
Books with Impact: A Guide to the Good Life
The “Books with Impact” series takes a deeper look at specific books that have had a profound impact on my financial, professional, and personal growth by extracting specific points of advice from those books and looking at how I’ve applied them in my life with successful results. The previous entry in this series covered Atomic Habits by James Clear. A few months ago, I wrote a list of my “five books” for financial and life improvement. In that article, I made a nod to a few additional books that I thought would make great supplemental reading for my choices, and A Guide to the Good Life by William Irvine was one of them. So, what’s A Guide to the Good Life all about? The subtitle … [Read More...]
6 Warning Signs That Civil Unrest Is Imminent
6 Warning Signs That Civil Unrest Is Imminent Authored by J.G.Martinez D. via The Organic Prepper blog, This week has been “interesting” in South America. Interesting, indeed, but as in the ancient Chinese curse style. For those of us in this side of the hemisphere, having been able to witness first-hand, in the front line, how the very same plot that made us get the heck out of our country, is unleashing a vendetta against the countries that have received us Venezuelans. I know geopolitical issues are not the intention of this blog, but please, allow me to continue. It will be necessary to establish a context of the circumstances. This vendetta I mentioned, has the exact same features that Fidel Castro once sent to… [Read More...]
Stocks Lower into Afternoon on Brexit Deal Worries, Global Growth Concerns, Profit-Taking, Tech/Defense Sector Weakness
Broad Equity Market Tone:Advance/Decline Line: LowerSector Performance: MixedVolume: Around Average Market Leading Stocks: Performing In Line Equity Investor Angst:Volatility(VIX) 14.3 +3.5% Euro/Yen Carry Return Index 125.69 +.16% Emerging Markets Currency Volatility(VXY) 7.76 -.89% S&P 500 Implied Correlation 33.65 -.03% ISE Sentiment Index 75.0 +34.1%Total Put/Call .96 +6.67% NYSE Arms .93 -13.1% Credit Investor Angst:North American Investment Grade CDS Index 55.50 -.58% America Energy Sector High-Yield CDS Index 486.0 +1.06%European Financial Sector CDS Index 59.97 -1.7% Italian/German 10Y Yld Spread 130.75 +1.0 basis pointAsia Ex-Japan Investment Grade CDS Index 70.71 -1.6%Emerging Market CDS Index 201.17 -.29%iBoxx Offshore RMB China Corporate High Yield Index 166.69 +.01% 2-Year Swap Spread 4.75 +.25 basis point TED Spread 30.5 -4.25 basis points 3-Month EUR/USD Cross-Currency Basis Swap -20.25 -2.5 basis pointsEconomic Gauges:Bloomberg Emerging… [Read More...]
How to Pay for Addiction Treatment
If you or a loved one has faced addiction, you’re not alone. One in seven Americans will face substance addiction in their lives, according to USA Today. However, only 10% of those people will ever receive treatment. Addiction is caused by a variety of factors, including genetics, psychological problems, the type of drug, and trauma, among other things. It can build slowly over time and become a chemical craving for the substance. One of the major barriers to treatment is cost. According to recovery.org, inpatient treatment can cost between $2,000 and $25,000 for a 30-day program. Outpatient treatment can range from free to $10,000, and detox can range from $300 to $800 a day. Given the high cost of treatment, the idea of paying for … [Read More...]
Friday Watch
Evening HeadlinesBloomberg: Two Crisis Phone Calls Unlocked the ‘Impossible’ Brexit Deal. China Convertible Bond Market Shows Signs of Roaring to Life. Japan’s Cabinet Approves Tougher Rules on Foreigners Owning Stocks. RBA Watchers Mull Aussie QE That Could Spur Property-Price Gains. Congress Pushes Forward On Turkey Sanctions Despite Ceasefire. White House, Democrats Upbeat on USMCA Despite Impeachment. Asia Stocks See a Mixed Open Ahead of China Data. Asian stocks headed for their highest close since July on Friday after U.S. shares edged closer to a record. The dollar traded near its weakest since before August’s trade-war turmoil amid diminishing demand for havens. The yuan was little changed before key economic data from China on Friday, though the indicators — including third-quarter GDP — may have limited … [Read More...]
The Crackdown On Illegal Immigration Is Hurting Oil Drillers
The Crackdown On Illegal Immigration Is Hurting Oil Drillers Authored by Tsvetana Paraskova via OilPrice.com, U.S. crude oil production growth may have slowed down this year, but the largest oil-producing counties in the Permian basin continue to feel a shortage of labor. The predicament for small oil services business owners in New Mexico is aggravated by the surge in worksite audits, investigations, and arrests as part of U.S. President Donald Trump’s tougher stance on illegal immigration. A growing number of owners of oil-related businesses in the second-biggest oil-producing county in the United States, Lea County in New Mexico, now avoid hiring undocumented immigrants for oil field work, fearing the clampdown on immigration will affect their business, Reuters reporter Andrew Hay … [Read More...]
Why Debt Consolidation Usually Makes Sense
Recently, I’ve heard from a few readers asking some very general questions about consolidating their student loans. Their questions mostly boil down to the fact that they’ve heard that it’s a good idea, but they don’t really understand why. What’s the benefit of student loan consolidation – or consolidating any loans for that matter? This is a great “personal finance 101” question, the type of question I already answer sometimes for my children and I expect to answer more and more as they migrate into adulthood. Almost always, the reason you should consolidate is so that the sum total of everything you owe over the lifetime of your loan (or loans) is as low as it can possibly be, and consolidation … [Read More...]
Investing Blog Roundup: Finding Good Financial Advice, at a Fair Price
How do I find a financial advisor? How much should financial planning services cost? How do I evaluate financial advisor candidates? These and other similar questions come up a lot in my email inbox. Jim Dahle recently provided a balanced take on the topic of finding/evaluating an advisor. From the article: “The rule of thumb is that high-quality financial advice costs a four-figure amount per year, ie, between $1,000 and $10,000. If you are paying more than $10,000 per year, you can almost surely get the same (or better) advice and service for less money. If you are paying less than $1,000 per year, you are unlikely to actually be receiving high-quality, personalized advice.” I’ve never heard such a rule … [Read More...]
Stocks Rising into Final Hour on Brexit Deal Optimism, Earnings Outlooks, Oil Gain, Retail/Healthcare Sector Strength
Broad Equity Market Tone:Advance/Decline Line: Substantially HigherSector Performance: Most Sectors RisingVolume: Around Average Market Leading Stocks: Performing In Line Equity Investor Angst:Volatility(VIX) 13.8 +.58% Euro/Yen Carry Return Index 125.50 +.38% Emerging Markets Currency Volatility(VXY) 7.86 -.76% S&P 500 Implied Correlation 33.40 +2.33% ISE Sentiment Index 56.0 -52.1%Total Put/Call .94 +1.08% NYSE Arms 1.03 -13.45% Credit Investor Angst:North American Investment Grade CDS Index 55.79 -.55% America Energy Sector High-Yield CDS Index 482.0 -.31%European Financial Sector CDS Index 61.0 +4.19% Italian/German 10Y Yld Spread 129.75 -1.75 basis pointsAsia Ex-Japan Investment Grade CDS Index 71.79 -1.43%Emerging Market CDS Index 201.75 -1.28%iBoxx Offshore RMB China Corporate High Yield Index 166.68 +.06% 2-Year Swap Spread 4.5 +.25 basis point TED Spread 34.75 -.25 basis point 3-Month EUR/USD Cross-Currency Basis Swap -17.75 -3.25 basis pointsEconomic Gauges… [Read More...]
Everything You Wanted To Know About The Trump-Biden Ukraine Scandal (But Were Afraid To Be Called Partisan)
Everything You Wanted To Know About The Trump-Biden Ukraine Scandal (But Were Afraid To Be Called Partisan) Authored by Aaron Kesel via ActivistPost.com, Scandal-plagued U.S. President Donald Trump and Democratic “wonder boy” candidate Joe Biden have been exchanging political punches over a new scandal that erupted in Ukraine. Trump asked the Ukrainian President to investigate potential corruption involving Joe’s son, Hunter Biden, after a prosecutor investigating his financial dealings was fired in exchange for billions of dollars in U.S. govt aid organized by Joe Biden as Vice President of the U.S. Although, the mainstream media wants the public to believe the Bidens “did nothing wrong.” The truth of the matter is Hunter Biden blatantly used his father’s position of power … [Read More...]
What is intrinsic value?
The value of a business to a buyer in a going private transaction is its intrinsic value. In other words, if a business is acquired by another entity, the amount exchanged for that business is its intrinsic value. Quite often, investors confuse price and value. The price of a business is readily available throughout the day on the internet. On the other hand, the value of the business to an… To read the whole article, please click on the article title above. [Read More...]
Trump Picks His Florida Doral Resort To Host G-7 Summit In 2020
Trump Picks His Florida Doral Resort To Host G-7 Summit In 2020 Donald Trump’s Doral golf resort in Miami will be the site of next year’s G-7 summit, according to a statement by the White House. As Bloomberg reports, the president pitched hosting the 2020 G-7 summit at Trump National Doral at this year’s August gathering of leaders in Biarritz, France, saying that the luxury property is “very big” and that each country could “have their own villa, or their own bungalow.” The announcement by Acting Chief of Staff Mick Mulvaney: “It’s almost like they build this facility to host this type of event,” Mulvaney told reporters at the White House, saying “a lot of the same criteria” used for past summits were applied to choosing the … [Read More...]
How I “Sharpen My Axe” Each Day – and Why
Last week, I wrote an article about goal-oriented paper planners. During that article, I mentioned that I actually use three planners/journals and I update them on a twice-daily basis, along with using a few digital tools to help. A lot of readers asked questions about this practice, so I thought I’d share the details of it. The reason I invest that effort into planners and such – and the reason why I have a 90 minute morning routine and a few other daily routines that don’t seem outwardly productive – is best summarized as “sharpening the axe.” There’s an apocryphal Abraham Lincoln quote that goes something like this: Give me six hours to chop down a tree and I will … [Read More...]
Stocks Slightly Lower into Final Hour on Brexit Deal Concerns, Earnings Jitters, Profit-Taking, Tech/Energy Sector Weakness
Broad Equity Market Tone:Advance/Decline Line: Around EvenSector Performance: MixedVolume: Around Average Market Leading Stocks: Performing In Line Equity Investor Angst:Volatility(VIX) 14.0 +3.0% Euro/Yen Carry Return Index 124.93 +.2% Emerging Markets Currency Volatility(VXY) 7.94 unch. S&P 500 Implied Correlation 33.33 +4.4% ISE Sentiment Index 119.0 -5.74%Total Put/Call .90 -11.8% NYSE Arms .86 +30.3% Credit Investor Angst:North American Investment Grade CDS Index 56.42 -.03% America Energy Sector High-Yield CDS Index 483.0 -2.64%European Financial Sector CDS Index 58.55 -2.82% Italian/German 10Y Yld Spread 131.50 -4.0 basis pointsAsia Ex-Japan Investment Grade CDS Index 72.83 -1.73%Emerging Market CDS Index 204.55 +1.55%iBoxx Offshore RMB China Corporate High Yield Index 166.59 +.03% 2-Year Swap Spread 4.25 unch. TED Spread 35.0 -.5 basis point 3-Month EUR/USD Cross-Currency Basis Swap -14.5-.5 basis pointEconomic Gauges:Bloomberg Emerging Markets Currency… [Read More...]
The Syrian Debacle Is Actually Well-Planned Chaos
The Syrian Debacle Is Actually Well-Planned Chaos Authored by Brandon Smith via Alt-Market.com, For many years now I have focused a considerable amount of analysis on the subject of Syria, with an emphasis on the country’s importance to the global elites as a kind of geopolitical detonator; the first domino in a chain of dominoes that could lead to a war involving international powers. I believe this war will develop on multiple fronts, most importantly on the economic front, but it could very well turn into a shooting war involving numerous actors. Syria is so important, in fact, that the establishment has been careful to smother all discussion about what is really going on there in a fog of propaganda. And make no mistake, … [Read More...]
DC Pundits In Meltdown As Trump Declares Syria & Russia Hate ISIS "More Than Us"
DC Pundits In Meltdown As Trump Declares Syria & Russia Hate ISIS “More Than Us” “Washington’s in meltdown mode over Trump’s Syria withdrawal and Turkey’s invasion,” independent journalist Rania Khalek observes. This as Trump announced Wednesday that American troops are “largely out” of the area of Turkey’s incursion in northeast Syria. Meeting with Italy’s president, Trump said in front of reporters: “If Syria wants to fight to take back their land, that’s up to them and Turkey.” He added, “There’s a lot of sand that they can play with.” Trump: “The Kurds know how to fight. As I said, they are not angels.” https://t.co/qKUuPxKCvA pic.twitter.com/QyQiDf0M8y — CBS News (@CBSNews) October 16, 2019 “Syria Is Protecting the Kurds, … [Read More...]
Weekly Outlook
Wall St. Week Ahead by Reuters. Global Economy Week by Bloomberg. The Week Ahead by Yahoo. (video)Stocks to Watch Next Week by Seeking Alpha. Weekly Economic Calendar by Briefing.com.BOTTOM LINE: I expect US stocks to finish the week modestly higher on technical buying, diminished China trade tensions, fewer global growth concerns, less European/Emerging Markets/US High Yield debt angst, oil strength and yen weakness. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week. [Read More...]
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