Archive for November, 2018

Silicon Valley, NYC, Boston: These Are The 100 Most Exclusive Zip Codes In The US

Courtesy of ZeroHedge. View original post here.

With 2018 drawing to a close, Property Shark has released its annual ranking of the most expensive zip codes in the country. And in a year when tech giants led the market’s ascent to record highs (as well as its stunning collapse over the past six weeks), perhaps it’s fitting that Silicon Valley has once again claimed the title of most expensive region in the country (going by the number of most expensive expensive zip codes in the top 100).

Property Shark bases its rankings on the most recent closing sales prices for each zip code. Taking first place is Atherton’s 94027, located in San Matteo County, thanks to a considerable spike in its median home sales price. All told, Silicon Valley claimed 30 of the country’s priciest zip codes. Silicon Valley and New York City claimed the top spots for cities, with nine each in the top 100. 

Cities

In second place after Atherton’s 94027 was Sagaponack’s 11962, part of a wealthy Hamptons enclave, with a median sales price of $5.5 million. NYC claimed the No. 4 spot with zip code 10013, which covers parts of SoHo and TriBeCa. it posted a median sales price of $3.81 million. Though, notably, the neighborhood saw a 7% contraction in sales prices that left it below the $4 million threshold.

Massachusetts got six zip codes, with Boston’s 02199 stealing the spot as the 3rd most expensive zip code in the country. The state’s second-highest entry came at No. 38 with 02543, located in Woods Hole, an affluent Cape Cod community, which posted a median sale price of $2,105,000. it was joined on the list by Nantucket’s 02554, with a $1.48 million median.

Florida, Maryland, Nevada and Washington State each notched one zip code in the top 100. Out of these state’s Miami’s 33109 was the priciest, coming in at 10th most expensive zip code nationally. Washington State made its presence known with Medina’s 98039 at No. 15. The King County zip posted a $3.05 million median, up by nearly half a million dollars compared with last year. Nevada’s 89413 in Glenbrook was also on the rise year-over-year, surpassing the $2 million mark to clinch the No. 37 spot.

See the full list below (several counties tied for spots on the list):

  • 1    94027    Atherton    San Mateo County  


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This Opioid Antidote Was Hiked 600% To Exploit Crisis

Courtesy of ZeroHedge. View original post here.

An American drug company hiked the price of its opioid-overdose antidote by 600% since going to market in 2014, has cost Medicare and Medicaid health programs $142 million, according to a new Senate subcommittee report, which called the company’s actions a way of taking advantage of the worst drug overdose crisis in US history.

Senators Rob Portman of Ohio and Tom Carper of Delaware said in the report, published last week, that Kaleo, Inc. “exploited the opioid crisis by increasing the price of its naloxone drug EVZIO by more than 600 percent (from an initial price of $575 per unit to $3,750 and then $4,100 eleven months later).”

Portman, a Republican, and Carper, a Democrat, head the Senate Homeland Security and Governmental Affairs investigative subcommittee, determined the Virginia-based company advise doctors’ offices to sign documents establishing that Evzio, which administers the opioid antidote naloxone, was medically necessary for overdoses – guaranteeing government health programs would cover costs.

“Naloxone is a critically important overdose reversal drug that our first responders have used to save tens of thousands of lives,” Portman said in a statement.

“The fact that one company dramatically raised the price of its naloxone drug and cost taxpayers tens of millions of dollars in increased drug costs, all during a national opioid crisis no less, is simply outrageous.”

Kaleo justified its pricing strategy in a statement and said it was strategizing with insurers to lower prices.

“We believe two facts are critical to the Evzio story,” the company said in a statement. “First, we have received voluntary reports from recipients of donated product that Evzio has saved more than 5,500 lives since we launched the product in 2014. Second, we have never turned an annual profit on the sale of Evzio.”

Drug-pricing consultants told the Senate subcommittee that Kaleo’s price should be between $250 and $300 – not $4,000. 

Cheaper brand-name naloxone products are available including Narcan, cost $125, and more inexpensive generic naloxone products under $100. 

The price jump came after Kaleo contracted two Chicago-based consultants, Todd Smith and Benjamin Bove, who have had plenty of experience hiking drug prices for pharmaceutical companies at the taxpayer’s expense. 

The consultants came up with a scheme for Evzio, and Kaleo paid the consulting firm, Underhill Pharma LLC., more than $10 million to figure out how to milk government healthcare programs. 

In 1Q 2016, Kaleo increased the drug’s price to $3,750, indicating that it was aimed at making sure people could get the drug fully subsidized. …
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Hong Kong Home Market Headed For Big Correction 

Courtesy of ZeroHedge. View original post here.

Back in October, Hong Kong’s housing market suffered its first decline in 29 months only days after HSBC became the first commercial bank to raise its prime lending rate, taking a hint from the Federal Reserve and the Hong Kong Monetary Authority in ending a decade of cheap money.

In that time, Hong Kong retained the world’s hottest housing market, but there is new evidence now of an immient slowdown. 

New-home sales this month have tumbled to levels not seen since 1Q 2016, according to Midland Realty data.

Meanwhile, home prices have fallen for two straight months, the longest losing streak since 2016, according to the Centa-City Leading Index.

Bloomberg said other reports showed deteriorating sales at Country Garden, the 6th largest property developer in China, is fueling speculation that the world’s most expensive housing market is headed for a deep correction. 

Last week, home prices experienced the largest decline since March 2016, falling 1.3% week-on-week, the data showed. 

From August’s peak, home prices have dipped about 5%.

Goldman Sachs Group Inc. has forecasted a 15 to 20% correction into 2020, as the Hong Kong Monetary Authority is expected to raise rates in tandem with the Fed, according to a research report released Monday.

Here are some more signs the storm clouds are gathering over the Hong Kong housing market:

Mortgage applications recorded the most significant month-on-month drop in 20 years in September, according to Centaline Mortgage Broker Ltd. The number of applications slid 56% to 7,977, the Hong Kong Monetary Authority reported.

The number of transactions for luxury homes is now the worst on record. 

Hong Kong has for decades been one of the most stable places in the world, however, with one interest rate hike and the threat of an imploding real estate market in 2019, it seems like regime change is imminent. 





America Needs A New National Strategy

Courtesy of ZeroHedge. View original post here.

Authored by Charles Hugh Smith via OfTwoMinds blog,

A productive national Strategy would systemically decentralize power and capital rather than concentrate both in the hands of a self-serving elite.

If you ask America’s well-paid punditry to define America’s National Strategy, you’ll most likely get the UNESCO version: America’s national strategy is to support a Liberal Global Order (LGO) of global cooperation on the environment, trade, etc. and the encouragement of democracy, a liberal order that benefits all by providing global security and avenues for cooperation.

This sounds good, but it overlooks the Endless Wars ™ and global meddling that characterize America’s realpolitik dependence on force, which it applies with a ruthlessness born of America’s peculiar marriage of exceptionalism and naivete.

The happy UNESCO story also overlooks the rapacious incoherence of America’s political system which is ultimately nothing but the Corporatocracy’s advocacy of self-interest. This sytem is based on the bizarre notion that private-sector corporations with revolving-doors to central state agencies lobbying for state protection of their monopolies will magically benefit the entire populace.

This absurd idea that the single-minded pursuit of maximizing private gain by any means available will magically benefit society is the essence of neofeudalism: the financial and political nobility maximize their take and justify this exploitation with airy assurances to the politically impotent debt-serfs that this systemic predation magically offers up the best possible outcome for the peasantry.

Uh, not to put too fine a point on it, but if this is the best possible world for America’s peasantry, let’s switch places, Mr. Financial Noble: you take my student loan debt and $30,000 a year job and I’ll take your $100 million private-wealth managed accounts in tax havens around the world, your private access to politicos and the Gulfstream on the tarmac.

The no-holds-barred pursuit of self-enrichment by the Nobility is America’s real-world national strategy: a system of institutionalized greed lacking any actual strategy.

America’s citizenry deserves better, and the place to start is to discuss a real strategy rather than justify self-serving elites’ parasitic predation as “good for everyone” via PR magic.

Let’s start by distinguishing force and power. This is a key discussion in my new book Pathfinding our Destiny: Preventing the Final Fall of Our Democratic Republic.

It’s instructive to recall Edward Luttwak’s distinction between force and power in his book The Grand Strategy of the Roman Empire: From the First Century CE
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Luxury Housing Bust – Chicago’s Most Expensive Mansion Taken Off Market

Courtesy of ZeroHedge. View original post here.

Chicago's most expensive mansion was abruptly taken off the market last week after failing to attract bidders at a staggering $50 million price tag.

United Automobile Insurance Co. Chairman and CEO Richard Parrillo and his wife, Michaela, constructed the 25,000 sqft Lincoln Park mansion a decade ago, after buying the property in 2005 for $12.5 million from the Infant Welfare Society.

After two years on the market, Parrillo and his wife held firm at $50 million, a record for the region, their original listing agent told the Chicago Tribune. The agent said the couple plowed more than $65 million into the estate, including land cost.

Listing information shows the mansion measures 25,000 sqft, which simple arithmetic would mean a cost of $2,000 per sqft. However, Cook County Assessor's Office reports that the structure is more like 15,533 sqft. The report also shows how the mansion's $50 million asking price is hugely overinflated versus 2018 estimated market value, which is $19.36 million. The report notes the 2018 property value is significantly higher from the assessor’s $13.98 million estimated market value for the mansion in 2017, due to a quick burst in high-end home sales in the last several years, but has since cooled.

With the Parrillos’ mansion off the market, Pete’s Fresh Market co-founder and owner James Dremonas’ $21.9 million asking price for a 13,400 sqft North Dearborn Street mansion on the Near North Side, is now the most expensive listing for any suburban home currently on the Chicago market.

More than likely, Parrillos and Dremonas have missed the window of opportunity to sell their luxury homes for the cycle. 

We have well documented the luxury Manhattan condo bust, Greenwich Homes sales plunge, Hamptons real estate downturn, Miami beach home implosion, Aspen mountain home crash, and the West Coast luxury market falling apart over the last several years.

Turning points in the real estate market take time, but as we find out this fall, the top is here:  Bank of America rang the proverbial bell on the US real estate market back in September, indicating that existing home sales have peaked, reflecting declining affordability, greater price reductions and deteriorating housing sentiment.

Chief BofA economist Michelle Meyer warned that "the housing market is no longer a tailwind for the economy but rather a headwind. Today's crash in new home sales – which tumbled the most Y/Y in 7 years – only confirmed that.





G-20 leaders descend on Buenos Aires as host Argentina battles worst economic crisis in a decade

 

G-20 leaders descend on Buenos Aires as host Argentina battles worst economic crisis in a decade

File 20181129 170250 10k7evk.jpg?ixlib=rb 1.1

Protesters carry a banner that reads in Spanish, ‘Property of the G20? Who chose?’ AP Photo/Sebastian Pani

Courtesy of Robert H. Scott III, Monmouth University and Kenneth Mitchell, Monmouth University

Leaders of the world’s biggest economies have gathered in Buenos Aires for the annual Group of 20 Summit to discuss some of the most important issues facing the global economy, from the future of work and food security to U.S. President Donald Trump’s trade war and the Khashoggi killing.

And although their host, Argentine President Mauricio Macri, probably won’t want to talk about the dire state of his country’s economy, heads of state need only use a cash machine to see evidence of it. A U.S. dollar worth just 20 pesos in April today converts into almost double that, making the Argentine currency the world’s worst performer this year.

We’ve been following the ebbs and flows of the Argentine economy for two decades and are currently wrapping up a book on economic and fiscal policy in Argentina, Brazil and Chile. Here’s a quick look at what went wrong and how it could get better.

A man serves food at a soup kitchen in Buenos Aires. AP Photo/Natacha Pisarenko

Scary times

Pesos have been fleeing the country. The economy has been sinking deeper into recession. And the country is suffering the worst drought in decades.

Sound scary?

For Argentina, it’s more of the same. The country has suffered through many economic crises in recent decades. And pretty much every time, the catastrophic meltdowns ended with some combination of unsustainable national debt, high unemployment, rising poverty rates, looting, bank runs, capital flight and hyperinflation. That in turn set the stage for the next economic crisis.

But it didn’t have to happen this time. Only two years ago, Argentina’s leadership had appeared to learn lessons from the past and were governing the economy pretty effectively.…
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How mainstream media helps weaponize far-right conspiracy theories

 

How mainstream media helps weaponize far-right conspiracy theories

File 20181121 161638 duxyh5.jpg?ixlib=rb 1.1

Are there invisible forces at work in the world? Grzegorz Zdziarski/Shutterstock.com

Courtesy of Heather Woods, Kansas State University and Leslie Hahner, Baylor University

Once an anti-Semitic rumor moved from fringe to the mainstream, it took less than two weeks for violence to erupt. The false allegation that liberal philanthropist George Soros was funding or supporting a caravan of Honduran refugees heading to the U.S. spread wildly from a single tweet posted on Oct. 14.

Along with far-right memes, that allegation helped motivate both an alleged mail-bomber and a mass shooter at a Pittsburgh synagogue. The way these messages traveled across the internet in this short time span is just one example of how extremist messages and memes circulate with incredible speed across mainstream social media platforms.

From our vantage point as researchers of visual and digital communication, memes – short, often image-based forms of communication – are powerful engines of persuasion, even though they can appear innocuous or even humorous. Perhaps the best known examples are LOLCats memes, pairing funny pictures of cats with customizable phrases or sentences. Memes can disseminate information quickly because they invite people to share or remix content with little effort required, making widespread dispersal more likely.

Memes need not be humorous or factual to be functional. All they need to do is attract attention online, which often translates into mainstream media coverage. That makes memes potent tools for distributing disinformation. Moreover, the online and mainstream platforms that amplify memes’ circulation can weaponize false claims and encourage conspiracy theorists – sometimes toward violence.

Memes move conspiracies

Understanding how these messages embolden anti-Semitism and other forms of terrorism involves grappling with how white supremacists use digital media. As we detail in our forthcoming book “Make America Meme Again,” messages and memes weaponized in far-right networks are deft political tools that move swiftly across social and traditional media. Because memes are stealthy political messages that usually offer rebellious or irreverent humor, they can be easily retweeted, shared or even pasted to the side of a van.

Before the dawn of…
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The Commish

 

The Commish

Courtesy of 

Last night I had the pleasure of attending a talk put on by Andrew Ross Sorkin and the New York Times in their auditorium on 41st Street. Andrew’s special guest was Securities and Exchange Commission Chairman Jay Clayton and the conversation was about blockchain technology, crypto currencies, distributed ledgers, initial coin offerings and a lot more.

I want to say a couple of things about what I saw and heard at the event…

We are in good hands with both of our Jays. As regular readers know, I’m not a Trump fan. However, between his Fed Chairman pick, Jay Powell, and his choice for SEC Chairman, Jay Clayton, I feel that the investor class and market participants in general are in good hands. Jay Clayton is an accomplished securities and corporate attorney and genuinely has an affection for our capital markets and an appreciation for the rules he’s been sworn to uphold.

Clayton is open-minded…: We have a commissioner who is open to the idea of new technologies being used within our markets to make trading more efficient, and who has taken his time to learn about all of the optimism and skepticism surrounding crypto currencies. He’s done the research himself and is completely engaged in the subject matter.

…but he’s also a constructionist: In one of my favorite exchanges of the night, when asked about whether or not our regulatory capabilities were up to snuff in the age of blockchain, Jay shared his view that the people who created our current securities laws in the 1930’s were geniuses. These rules have withstood the test of time and have been in place to foster the growth of our economy to more than $20 trillion. “I think the new technologies ought to be able to adapt to our rules, we shouldn’t change our rules every time there’s new technology.” He’s speaking generally about the two main types of rules the SEC enforces: Those dealing with the offering and sale of securities to the public and those dealing with the secondary markets that securities trade in.

Bitcoin is a currency, not a security or a commodity: His view of what Bitcoin actually…
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WSJ Calls It: “US Housing Boom Is Coming To An End, Starting In Dallas” 

Courtesy of ZeroHedge. View original post here.

About two months after Bank of America rang the proverbial bell on the US real estate market, indicating existing home sales have peaked, reflecting declining affordability, greater price reductions and deteriorating housing sentiment. It now appears The Wall Street Journal has jumped on the bandwagon in calling the housing market top with a new piece that warns: "US Housing Boom Is Coming To An End, Starting In Dallas."

In a piece published Tuesday, the WSJ hones in on Dallas to explain the national slowdown of the housing market alongside Trump's "greatest economy ever." Housing prices have risen far faster than wages, which has triggered an affordability crisis during the same time the Federal Reserve is undergoing monetary tightening – a perfect cocktail that could form a top in the market. More: 

"Yet even with the booming growth, Dallas’s once vibrant housing market is sputtering. In the high-end subdivisions in the suburb of Frisco, builders are cutting prices on new homes by up to $150,000. On one street alone, $4 million of new homes sat empty on a visit earlier this month. Some home builders are so desperate to attract interest they are offering agents the chance to win Louis Vuitton handbags or Super Bowl tickets with round-trip airfare, if their clients buy a home. Yet fresh-baked cookies sit uneaten at sparsely attended open houses."

WSJ notes that affordability has gotten “out of whack with historical norms.” The median home price in Dallas now costs more than 50% than it did in 2007.

On Zillow's website, the Dallas market is rated as "cold." Plano, McKinney, and Allen are each rated cold, as well, while Frisco is “very cold."  

The WSJ interviewed a millennial family who purchased a home earlier this year in the Dallas metro area; they said the market “felt extremely hot,” but struggled to sell their previous home for five months as interest rates surged. In mid-October, they sold it for $16,000 less than their original asking price.

Mortgage rates positively correlate to 10-year Treasury notes, which have been all year because of growing inflation fears and massive deficit spending by the Trump admin. 

“Some [buyers] are adjusting their budget. They’re shopping more for different mortgage companies,” said Amy Downs,…
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This Is How The “Everything Bubble” Will End

Courtesy of ZeroHedge. View original post here.

Authored by Nick Giambruno via InternationalMan.com,

I think there’s a very high chance of a stock market crash of historic proportions before the end of Trump’s first term.

That’s because the Federal Reserve’s current rate-hiking cycle, which started in 2015, is set to pop “the everything bubble.”

I’ll explain how this could all play out in a moment. But first, you need to know how the Fed creates the boom-bust cycle…

To start, the Fed encourages malinvestment by suppressing interest rates lower than their natural levels. This leads companies to invest in plants, equipment, and other capital assets that only appear profitable because borrowing money is cheap.

This, in turn, leads to misallocated capital – and eventually, economic loss when interest rates rise, making previously economic investments uneconomic.

Think of this dynamic like a variable rate mortgage. Artificially low interest rates encourage individual home buyers to take out mortgages. If interest rates stay low, they can make the payments and maintain the illusion of solvency.

But once interest rates rise, the mortgage interest payments adjust higher, making them less and less affordable until, eventually, the borrower defaults.

In short, bubbles are inflated when easy money from low interest rates floods into a certain asset.

Rate hikes do the opposite. They suck money out of the economy and pop the bubbles created from low rates.

It Almost Always Ends in a Crisis

Almost every Fed rate-hiking cycle ends in a crisis. Sometimes it starts abroad, but it always filters back to U.S. markets.

Specifically, 16 of the last 19 times the Fed started a series of interest rate hikes, some sort of crisis that tanked the stock market followed. That’s around 84% of the time.

You can see some of the more prominent examples in the chart below.

Let’s walk through a few of the major crises…

• 1929 Wall Street Crash

Throughout the 1920s, the Federal Reserve’s easy money policies helped create an enormous stock market bubble.

In August 1929, the Fed raised interest rates and effectively ended the easy credit.

Only a few months later, the bubble burst on Black Tuesday. The Dow lost over 12% that day. It was the most devastating stock market crash in the U.S. up to that point. It also signaled the beginning of the Great Depression.

Between 1929 and…
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Zero Hedge

WeWork Board, Softbank Officials Push For CEO Neumann's Ouster

Courtesy of ZeroHedge View original post here.

The odds of WeWork co-founder and CEO Adam Neumann becoming "the world's first trillionaire"  maybe about to take another major hit.

In what appears to be the latest attempt to salvage the farce that is the WeWork IPO (and the massive hole it will leave in Masayoshi Son's balance sheet and credibility), ...



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Insider Scoop

Notable Insider Buys In The Past Week: AbbVie, Kraft Heinz And More

Courtesy of Benzinga

Insider buying can be an encouraging signal for potential investors.

A packaged food giant and two drugmakers saw notable insider buying activity this past week.

Some of this insider buying occurred alongside insider sales.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. So insider...



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Phil's Favorites

Peloton IPO Guide... And Why It Makes No Sense

Courtesy of ZeroHedge

By Scott Willis via Grizzle.com

BOTTOM LINE

At the end of the day, Peloton is a gym membership pretending to be a tech company.

We fully admit the product is exciting and unique in the market, but Peloton still faces the same problem...



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Digital Currencies

Buyer beware: How Libra differs from Bitcoin

 

Buyer beware: How Libra differs from Bitcoin

Recent revelations about the lack of privacy protections in place at the companies involved in Facebook’s new Libra crytocurrency raise concerns about how much trust users can place in Libra. (Shutterstock)

Courtesy of Alfred Lehar, University of Calgary

Facebook, the largest social network in the world, stunned the world earlier this year with the announcement of its own cryptocurrency, Libra.

The launch has raised questions about the difference between Libra and existing cryptocurrencies, as well as the implications of private companies competing with s...



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Lee's Free Thinking

Look Out Bears! Fed New QE Now Up to $165 Billion

Courtesy of Lee Adler

I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



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The Technical Traders

Is A Price Revaluation Event About To Happen?

Courtesy of Technical Traders

Skilled technical traders must be aware that price is setting up for a breakout or breakdown event with recent Doji, Hammer
and other narrow range price bars.  These types of Japanese Candlestick patterns are warnings that price is coiling into
a tight range and the more we see them in a series, the more likely price is building up some type of explosive price breakout/breakdown move in the near future.  The ES (S&P 500 E-mini futures) chart is a perfect example of these types of price bars on the Daily chart (see below).

Tri-Star Tops, Three River Evening Star patterns, Hammers/Hangmen and Dojis are all very common near extreme price peaks and troughs.  The rea...



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Kimble Charting Solutions

India About To Experience Major Strength? Possible Says Joe Friday

Courtesy of Chris Kimble

If one invested in the India ETF (INDA) back in January of 2012, your total 7-year return would be 24%. During the same time frame, the S&P 500 made 124%. The 7-year spread between the two is a large 100%!

Are things about to improve for the INDA ETF and could it be time for the relative weakness to change? Possible!

This chart looks at the INDA/SPX ratio since early 2012. The ratio continues to be in a major downtrend.

The ratio hit a 7-year low a few months ago and this week it kissed those lows again at (1). The ratio near weeks end is attempting to...



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Chart School

Crude Oil Cycle Bottom aligns with Saudi Oil Attack

Courtesy of Read the Ticker

Do the cycles know? Funny how cycle lows attract the need for higher prices, no matter what the news is!

These are the questions before markets on on Monday 16th Aug 2019:

1) A much higher oil price in quick time can not be tolerated by the consumer, as it gives birth to much higher inflation and a tax on the average Joe disposable income. This is recessionary pressure.

2) With (1) above the real issue will be the higher interest rate and US dollar effect on the SP500 near all time highs.

3) A moderately higher oil price is likely to be absorbed and be bullish as it creates income for struggling energy companies and the inflation shock may be muted. 

We shall see. 

...

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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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