Share to Twitter Share to Linkedin For some folks, it’s almost a reflex to buy gold when inflation hits or volatility ramps up. In times like those, they simply flock to the yellow metal—no questions asked. But buying gold as a safe haven is a terrible idea, for one simple reason: it doesn’t work. The dumpster fire year we’re living through now provides an excellent example of gold’s ineffectiveness as an inflation hedge: while inflation soared (it sits at 8.3% as of August), gold has gone the other way, plunging 6.4% since January 1. That lousy performance isn’t just a one-off. Gold has actually fallen 7% in the last decade. In other words, if you’d held it over that time, it would have dragged down your returns. In other words, it’s pretty much the opposite of a safe haven! And if you’re looking for dividends, gold is an especially poor choice. Gold bars and coins, of course, pay zero dividends and come with costs to store and secure … [Read more...] about These 4 Gold Funds Are The Worst Buys You Could Make Now
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Share to Twitter Share to Linkedin Quick experiment, think about how many credit cards are in your wallet. Got it yet? I am willing to bet that you have a Visa V or Mastercard MA credit card somewhere. Both are publicly traded and are integral pieces of the credit card industry. Credit card payments in 2018 totaled $44.7 billion in the U.S. alone, according to a 2019 Feder Reserve Payment Study. In the same year the U.S. accounted for $39.6 billion combined purchase transactions further proving America is a society that loves to spend. Investors have many avenues of investing in the financial industry, it can be quite intimidating to make a portfolio decision. Two juggernauts in the finance world have been battling each other for market shares since the dawn of electronic payments. Between them, they account for 64 percent of the global consumer financing market. Visa stock has grown 70.2% over the past five years compared to Mastercard stock's … [Read more...] about Visa vs. Mastercard, Here’s What Investors Need To Know About These Two Credit Card Giants
Robert Hale became a billionaire capitalizing on the technology Alexander Graham Bell patented in 1876. But time’s up, and now the 21st century is calling. “G ood fun, good fun!” bellows Rob Hale on a recent Friday morning. It’s 6:30 a.m., and two dozen employees of Granite Telecommunications have gathered for one of their CEO’s favorite rituals: hourlong morning workouts, a grueling grind of pushups, squats, burpees, sit-ups, planks, jumping jacks and stair runs through the company’s four-story office headquarters in Quincy, Massachusetts, a blue-collar burb 10 miles south of Boston. Hale, 56, likes routine. His typical workday includes nabbing the parking lot’s fifth spot (five is his lucky number), downing four extra-large decaf Dunkin’ coffees (two in the morning, two in the afternoon), overseeing a second group workout at noon (this one, mercifully, 20 minutes), then getting home in time for dinner with Karen, his wife of 28 years. “My life is very regimented,” Hale … [Read more...] about This Dot Com Crash Survivor Bet On 100-Year-Old Landlines. Now He’s Boston’s Second Richest Entrepreneur.
A sign above the entrance to a Credit Suisse Group AG bank branch in Geneva, Switzerland, on Monday, July 25, 2022. Photographer: Jose Cendon/Bloomberg The UK government’s fiscal incontinence through unfunded tax cuts that dragged the Bank of England (BoE) back to quantitative easing (QE) took on a nasty turn last week. As UK gilt yields continued to fly, investors joined the dots to conclude that two of the biggest European investment banks were on the brink of collapse. Just like wildfire, the possibility of contagion and financial instability spread to other markets, particularly the US. But how did Credit Suisse and Deutsche Bank go from being poster boys to (potential) fallen angels? We explain: Also Read | Credit Suisse shares fall around 10% in early trading What happened in the UK last week? Close Ever since the UK government announced unfunded tax cuts on September 23, bond yields have been flying. The 10-year UK bonds now trade at around … [Read more...] about MC Explains | Credit Suisse and the darkening spectre of instability
Credit Suisse The market cap of HDFC Bank is now 10 times higher than that of crisis-hit Credit Suisse after the latter's stock price crashed amid speculation about its financial health. The market cap of HDFC Bank is six times higher than that of Deutsche Bank. Currently, HDFC Bank's m-cap stands at $99.10 billion while Credit Suisse's m-cap is at $11 billion. A year ago, Credit Suisse had a market cap of $26 billion. Deutsche Bank's m-cap is at $15 billion. Last year its m-cap was at $26 billion. Both Credit Suisse and Deutsche Bank have declined nearly 58 percent and 40 percent in the last one year. Many Indian banks like State Bank of India, ICICI Bank, Axis Bank and Indusind Bank now have higher market capitalisation than Credit Suisse and Deutsche Bank. State Bank of India has an m-cap of $58 billion while ICICI Bank's m-cap stands at $74 billion. Kotak Mahindra Bank's m-cap is $44 billion. Axis Bank's m-cap is $28 billion and Indusind Bank's m-cap is $12 billion. … [Read more...] about HDFC Bank’s market cap now 10 times higher than that of crisis-hit Credit Suisse
Share to Twitter Share to Linkedin President Biden’s plan to raise taxes on very high-income households died in Congress. But the idea of lives on in the states. Initiatives on November ballots in California and Massachusetts have the same goal. And both are linked to explicit, broadly popular, new spending. The California initiative (Proposition 30) would impose a surtax of 1.75 percent on annual incomes in excess of $2 million, on top of the state’s top rate of 12.3 percent. It would raise between $3.5 billion and $5 billion annually, rising over time, according to a state estimate. About 80 percent of the money would be used to promote zero emission vehicles and the rest would fund efforts to prevent and control wildfires. The Massachusetts referendum (Question 1 or the “Fair Share Amendment”) is even more dramatic. It calls for a 4 percent surtax on personal incomes in excess of $1 million, on top of the state’s existing 5 percent income tax rate. … [Read more...] about Congress Failed To Raise Taxes On Millionaires. Now States Are Trying.
Share to Twitter Share to Linkedin There’s something magical about fall at the Jersey Shore. The massive summer crowds have dwindled leaving behind a sense of serenity as you stroll along one of the shore’s iconic boardwalks. With very few people populating the sandy beaches, the soothing sounds of the onrushing waves appear to be amplified. Only a few weeks earlier the beaches and boardwalks were teeming with activity as hordes of ocean lovers congregated upon New Jersey’s most popular shore towns, a tradition that began with the construction of the world’s first boardwalk in Atlantic City in 1870. The Jersey Shore, which stretches 141 miles of oceanfront along the Atlantic Ocean, is a vacation destination unlike any other as witnessed by the more than 100 million people who come each year to ride the waves, build sand castles, enjoy the many amusement parks, sample the freshest seafood available or play some games of chance. Atlantic City remains the … [Read more...] about Fall At The Jersey Shore: An Idyllic Time To Visit
Share to Twitter Share to Linkedin The electric vehicle revolution is here, even in the most unexpected places. And it is a huge opportunity for astute investors. Executives at Stellantis NV (STLA) announced in August, that production of its Dodge Charger and Challenger muscle cars will end this year. The company is replacing them with EVs. Investors should consider buying ON Semiconductor (ON) . The Challenger and Charger brands in 2008 became part of a muscle car revival. Aging baby boomers, and internal combustion engine enthusiasts suddenly found the marketplace full of revamped Chevy Camaros, Ford Mustangs and Chargers. Many of these 1970s lookalikes were stuffed with some of the most powerful motors ever developed in Michigan. The Hemi Hellcat engine in 2018 quickly earned a cult following. In its most power configuration, and fitted with the premium exhaust system, the Hemi V8 motor generated 808 horsepower. Production of the Hellcat … [Read more...] about Small Chipmaker With Big Vision On Track To Dominate Fast-Growing Electric Vehicle Industry