Investors need to be cognizant of, and understand why, the chorus of arguments in favor of short-sighted and flawed strategies are so prevalent. The meteoric rise in passive investing is one such “strategy” sending an important and timely warning. Just remember, everyone is “passive” until the selling begins.
Former WSJ reporter Asra Nomani asks in the NYT's "Women In the World" section what is the link between one of Hillary Clinton’s largest donors and the Women’s March? Her answer: "as it turns out, it’s quite significant."
"Democratic leaders are calling his election illegitimate, and most of the media wants Mr. Trump to implode. No President since Nixon will face a more hostile resistance in the press and permanent bureaucracy. Mr. Trump promised to disrupt the status quo, and to succeed he will have to."
John Connally, President Nixon’s Secretary of the Treasury, once remarked to the consternation of Europe’s financial elites over America’s inflationary monetary policy, that the dollar “is our currency, but your problem.” Times have certainly changed and it now appears that the dollar has become an American problem.
Many more students have defaulted on their college loans than the U.S. government previously revealed. This stunning admission came last Friday, when the Education Department released a memo revealing that it had overstated student loan repayment rates at most colleges and trade schools. The explanation? the problem resulted from a "technical programming error."
"We would be very surprised to see a discussion of asset sales under Chair Yellen’s leadership, but a shift to more active management of the maturity of new Treasury purchases could be an option; shortening the duration of new purchases would quicken portfolio runoff once it begins." - Goldman Sachs
In what is sure to be one of the fieriest confirmation hearings to date, Steven Mnuchin, Trump's pick for Treasury Secretary, is set to take questions from the Senate Finance Committee this morning as Democrats will undoubtedly being looking to score theatrical points with the working class folks of the Midwest by peppering the "Foreclosure King" with zingers on his time at Goldman Sachs and OneWest.
"I’m hoping that if leftists see how tax hikes are “successful” in discouraging things that they think are bad (such as consumers buying sugary soda or foreigners buying property), then maybe they’ll realize it’s not such a good idea to tax – and therefore discourage – things that everyone presumably agrees are desirable (such as work, saving, investment, and entrepreneurship)."
As President Obama held his last press conference this afternoon, basking in the warm afterglow of an over-sampled poll showing his favorability near record highs, it would appear he (and the press corps) forgot to mention that for most Americans - the 80% in production and nonsupervisory roles - this morning's data showed real wages actually dropping for the first time since 2013. Not exactly the rosy picture of economic growth being spun by the media as Obama transitions to Trump.
"...the purpose is clear: to collapse the liberal international order... and to return to a world where the strong impose its will through military might, corruption, and criminality, while weaker nations have to fall into line."
On Friday, Trump told The Wall Street Journal that border-adjustment, a vital part of the House Republicans' corporate tax-reform plan, was "too complicated." Now, it's suddenly back on the table. "It's certainly something that's going to be discussed," he said.
Gold has risen every day except one so far in 2017, building on the 8.1 percent gain in 2016. Fears of "calamitous self-harm" and contagion in the EU from BREXIT and Trump dollar comments pushing gold higher ahead of "I Day" - Inauguration day ...