Speaking of the "Man Who Planted Trees", it really works. I bought BTU back in March at $49.87. I practically bought it at the tippy top. However, I soon afterward found this site, started learning Phil's methodology(and those in the strategy section) and began selling calls/puts regularly against my bad position. As of yesterday, I still own the original 100 shares, but have brought my basis down by over $11.00. Couldn't be happier, what started out as a really bad entry, I have managed to work down to a good basis. Had I not watched that video and learned your system, I would sold out of the position, and been kicking myself for making such a bad entry.
Hoss
Phil, did you by chance publish the weekly webinar on Youtube yet? I have been watching these and they are awesome. Unfortunately, I can't cut out of work to attend live webinars. Again, they are just awesome content – thank you.
jcpdx
Phil, I wanted to thank you for all of your teaching, advice, and guidance. Because of you I don't chase, don't worry about missed chances, and play things much more selectively. Yesterday's /ES and /TF and today /CL are my first futures plays of the month. Thanks Phil. (Out of /TF and /ES yesterday with a nice gain)
Japarikh
Phil I have been applying your arsenal (matresses, Edz plays, Ugl verticals etc.) to my gold holdings . So a big thank you for "teaching me how to fish" rather than just giving me the fish...
Magret
Thanks for the oil tip Phil: Bot & sold the USO May 29 calls for net $125. Not bad for few minutes work.
JWick1981
I have been a member of Phil's site for three years and counting, and my advice is that all investing takes time. There are o shortcuts, no secret way to riches. Same with Phil's site- you need time and patience to start benefitting fully from his advice. But it is often spot on and also very useful, especially to me as I try to keep a level head in this turbulent stock market environment.
Jordan
I discovered PSW while reading up on the US economy and how it applies to all the poor folk of the world and to myself as a humble UK desk slave.
This year I put time into learning options trading. I upgraded (with great administrative difficulty!) my stock dealing account to deal options. Now I am an avid reader of PSW and subscribed for voyeur membership. Initially feeling out of my depth struggling to keep up with the peculiar language of options traders, I unsubscribed feeling a little under confident and uncertain if the small stake I have to invest in options could generate enough to justify my PSW subscription. Nevertheless, I've benefited considerably from the member's material. From a small number of initial trades, I've exceeded profit targets enough to consider re-subscribing in some capacity. Thanks for the knowledge and more than anything I appreciate the human angle, the humour and the ecologically sympathetic approach rarely seen in other financial media. Best wishes all - Jon
Jon
Phil: I am always able to figure out your trades, including the rational when put in the right context of previous comments, etc. Keep doing what you're doing. It is much appreciated, and invaluable. Your hit rate of successful trades has been very high in my 1.5 months as a member, but even more importantly is your teaching of how to repair and DD positions that haven't gone your way yet. As with most members, we all have our ‘pet' trading interests, and learning how to think about trading is much more important than a specific trade, which could see the conditions behind it change an hour later. This is the classic case, of ‘Teach us to Fish', rather than just giving us a fish once in a while. Thank you!
Neverworkagain
Phil.... I remember back in March of '09, you stated " Unless you think the country is going to hell in a hand-basket, NOW is the time to do your buying". Do you remember ?
I took your advice, and bought leap $2.00 calls on F, approximately 200,000 shares using the options, for just pennies. Now that was the best Ford I ever owned.... made over $1 mil - thanks go to you Phil. I now drive a Mercedes but still "love" the Ford.
1234Gel
I have been trading for quite a few years and in good years made about 25%. After joining PSW, I followed closely the PSW strategy and my trading profit for this year is close to 70% to date. For fun, I like to mix in a few "Hail Mary" plays that really worked out well, but overall the simpler Buy/Write strategy, as presented by Phil so often, created the majority of the profit.
Gel1
Thanks to Phil (again) for the lessons on the art of the roll, selling premium and hanging tight under fire (particularly in the first hour of trading-MADNESS). Watching you manage the $25KP has really helped my trading in a big way.
Oknoman
From following Phil I have opened up BCS and occasion will strangle some stocks. I will occasionally hedge using an ETF ultra. I have a big take down occasionally but so far I am way ahead of the S&P, and since buying into PSW some years ago by seeing Phil on Seeking Alpha I feel more confident in my abilities. FYI I am a retired entrepreneur formerly in the real estate and insurance businesses.
Newthugger
I have been around for many years now, was a modest inexperienced investor when I started, and I can honestly say I would not be at the point in my portfolio I am today without the guidance of Phil and JeanLuc and Yodi and all the others I've had the pleased of learning from and, on a few occasions meeting, over the years. Truly been a great experience.
RPeri
Phil: Thank You!
Scaling, Scaling, and Scaling… then patience, patience, patience I'm 2 to 1 short and even on a day the broad market is up I had my largest one day gain in years. The last 6 weeks in fact have been great. I really feel I've learned to use some tools that will enable me to deal with the turbulence ahead. Selling short calls is definitely my preferred approach. Even allowed me to play golf this afternoon while the premium melted away and shoot a career low round. I owe you man!
Lincoln
Thanks Phil another great week of guiding us!
Steven Parker
Cory Booker for President. :) . Thanks for all the good futures guidance Phil! Having one of my best months yet. Account is up 75% YTD!
Traderd
I picked up one of your recommended Gold plays, the July ABX 30s and sold the Feb 35s, which are now mostly intrinsic value. Is it time to roll these to the March 37.50s, or should I wait this spike out?
Bill Hoffman
I can't believe it. After 2 Months of reading every post of every section on this site, the light bulb finaly went on. I was begining to think this was beyond me capacity to understand. Thanks Guys. Specifically Phil, Pharm, Cap, Matt. Im still Green as a leprechaun but I pulled the trigger on that SRS Vertical you laid down yesterday Phil. Very Clever. Now if I can just figure how to roll I migh make some money. Thanks for sharing, This community you have here is quite remarkable.
Zucko
Phil, thanks for the call on the SKF puts earlier, I'm riding that horsie downhill right now, giddyup!
MrMocha
I would like to thank Phil and PSW crew for the insight and assistance (even the liberals).
In December I initiated long stock positions buying stock, writing calls and puts in AAPL, WFR and CHK (scaling in and out). Over the last week I have been trimming back my positions selling stock and taking out my callers and putters. I am now back to my initial 25% position that I started with in December. However this time, my cost basis on shares AAPL, WFR, and CHK is $0! With money to spare from those positions.
Texasmotion
I have been a "silent" member for the past year, and am 1,000 hours into the 10K hours of training (The last week is worth at least 500 hours!). Made lots of mistakes and misunderstood quite a few of Phil's calls, … some actually made money when reversed. The chat (Including the politics) is very engaging (Many great minds with international coverage), and a great companion, while nursing a trade gone wrong, through the night. The webinars (despite technical difficulties) are extremely useful. Thanks for your coaching … it has made me a consistently profitable trader, with a better understanding of what I do not know.
Aquila
Phil… My portfolio, in the past few months, has acheived a high degree of stabilization. I've noticed that on up days, down days, even days, it doesn't matter, my portfolio rarely varies more than 2%. And over the long haul it just slowly increases in value. I attribute this not to investment choices, but to style. Thanks to you and others on this site I'm paying close attention to position size, delta neutrality, downside protection, and concentrating on selling premium rather than buying it. I've developed increasing patience, not having to trade daily, or even weekly. I'm concentrating on the finer points of trading, letting the profits come to me, rather than the other way around. I appreciate the help everyone here has given in getting me focused on this principle. I'm pumped!…in a calm sort of way.
Iflantheman
Thanks Phil for all you do. I feel like I don't read all the newsprint because when I check in with you I know I get the "real" scoop. Your service is number Uno in my book for all the knowledge and teaching. I ignored the aapl spin and am now enjoying some rewards. Every AM I get my Phil fix and throughout the day any important links. Mucho gracias. It leaves me time for my volunteer work besides the investing.
Pirateinvestor
Greetings Phil,
I am an Economist at Harvard and some of my colleagues and I would like to let you know that we follow your posts on SA, and find your analysis refreshing, rigorous, and acute. Great work! Though many of us (including myself) have our work covered in the Wall St Journal, in many ways your macro commentary is more fearless and accurate than what is generally found in that venerable publication.
Kind regards,
Daniel
Daniel
It is amazing how much confidence you engender, Phil………..I knew the 1% a day trades and repeated often were possible as I had done in stretches, and I knew kill zone trades were also possible and 5% to 10% returns per month were very possible with practice, experience and smart risk management all without having to take a lot of risk, but I guess I was talking to the disbelievers and since I have dropped them into my 'why bother to try to explain it' file and come over to the dark side at PSW I feel soooo much more content not only with the returns, but with the company and a comments and the obvious opportunity to learn and learn and learn some more.
It all helps the mental and emotional discipline of the trading too. So thanks again.
Roro
Phil, I followed your investing ideas in LTP quite closely. It seems your insightful fundamental analysis knowledge serves you v. well. I get entertained and they are profitable.
Investwizard
Phil, thanks for the webinar and options subject…I wasn't shown as attending but I was there for most of it. Your memory amazes me, your speed on the computer amazes me, your math skills blow me away. coke
Coke
Phil, You were on the $ today with your calls almost exactly on the turns – Krap kuhn krup (Thai for thank you very much).
Jomptien
Happy Thanksgiving Phil and to your family and associates. Also to all of the other fellow citizens of Phil's Stock World. I am particularly happy and thankful that I clicked on your article in Seeking Alpha a number of years ago. That opened the gate to Phil's Stock World and "being the house". My wallet thanks you as does my peace of mind in trading options, stocks and rarely futures. Your liberal views opened up my views—being a boot strapper (pulled myself out of a poor background) I was a CONSERVATIVE—cynical of others who weren't as driven. Now, I am much less so; you have taught me more than how to make money and manage risk. So, again I give thanks to you and the others of PSW!!
Newthugger
I love it when a trade really comes together. After 4 DD's and a roll, I cashed out 16 times my initial position in TLT today for a 140% gain. Thank you Phil for the lessons in scaling in, and paying for position.
The BEA Advance GDP for Third Quarter 2010 came in at +2.0%. However, Table 2. Contributions to Percent Change in Real Gross Domestic Product shows that Change in private inventories contributed +1.44 while real final sales contributed a mere .6.
How sustainable is that?
The answer is not very. This is likely the last hurrah for inventory replenishment even without factoring in upcoming cutbacks at the state level.
Not a V-Shaped Recovery
In terms of real final sales, this "recovery", is the weakest on record. Dave Rosenberg has some thoughts on that in Lunch with Dave.
U.S. REAL FINAL SALES 60 BASIS POINTS SHY OF DOUBLE-DIPPING
The major problem in the third quarter report was the split between inventories and real final sales. Nonfarm business inventories soared to a $115.5 billion at an annual rate from the already strong $68.8 billion build in the second quarter — this alone contributed 70% to the headline growth rate last quarter. If we do get a slowdown in inventory investment in Q4, as we anticipate, it would really not take much to get GDP into negative terrain. We estimate that if the change in inventories slowed to about $94.0 billion in Q4 (about $22 billion below Q3 levels), GDP would contract fractionally. In other words, it won’t take much for GDP to slip into negative terrain.
The recession may have technically ended, but outside of inventories, and the best days of the re-stocking process look to be behind us, this has been a listless recovery. At 60 basis points above zero, real final sales are just a shock away from double-dipping — a shock like looming tax hikes, accelerating fiscal cutbacks at the state/local government level or the millions of “99ers” about to fall off the extended jobless benefit rolls at the end of November.
In terms of components, the good news was that consumer spending did accelerate to a 2.6% annual rate from 2.2% in the second quarter — the best performance since Q4 2006. Non-residential construction eked out a 3.8% annualized gain, the first advance since Q2 2008. But the good news pretty well stopped there.
It is also no surprise to see imports bulge when inventories did the same, but what caught our eye in the external trade portion of the GDP report was
Mish takes on James Altucher’s wacko theory that the V in V-shaped recovery is a checkmark. The problem: focusing on a large percentage improvement from a low number to another low number takes the data out of the context. As an analogy, if you’re given three days to live and manage to live nine days, you didn’t recover. – Ilene
Aaron Task: Joining me now is James Altucher who says, not only is the recovery not over, and not only is it a "V Shaped Revovery, it’s checkmark shaped recovery. James you are wildly optimistic on the US economy right now?
James Altucher: I don’t want to say "wildly" because that sounds almost insane, and everyone is going to comment on these message boards that I’m completely whacko. At the same time if you look at all the data, go to the federal reserve website and look at every single chart of economic data, nonfarm payrolls, retail sales, inventories, it’s all a "V" or a checkmark. … The Debate is over. It’s already been a "V" the question is "Does it continue?" I think it does.
Completely Whacko
Yes James, you are completely whacko. I did go to the Fed website as you suggested and here are some charts to consider.
Civilian Unemployment
In terms of civilian employment there was a fast checkmark in the 70′s 80′s and 90′s but there is no sign of a "V" now, let alone a checkmark.
Auto Sales
Auto sales are now back to where they were in early 1980. This is the most miserable auto sector recovery ever in terms of actual numbers. Moreover, the data worse than it looks if one factors in population growth.
Looking for a checkmark? If you hold up the chart and look in a mirror you might see a nice one now, but the real one from 1980 vanishes.
Total Consumer Credit
With consumer credit, there is no "V" nor checkmark, nor any recognizable improvement, rather an unprecedented plunge dating all the way back
General Motors Co. posted a 17 percent increase in May U.S. sales, the first time the automaker topped analysts’ forecasts since January, as customers snapped up Chevrolet Equinox sport utility vehicles and Malibu sedans.
Deliveries rose to 223,822 from 191,875 a year earlier, the Detroit-based automaker said today in statement. GM was expected to report a 5.9 percent increase, the average estimate of five analysts surveyed by Bloomberg. Industrywide sales may match the longest streak of gains in a decade, analysts estimated.
Total sales of Chevrolet vehicles gained 31 percent from a year earlier to 167,235 vehicles, and GMC brand deliveries increased 26 percent to 30,160.
Industrywide sales may have risen to an annualized rate of 11.2 million cars and light trucks for May, the average estimate of eight analysts. That would mark the eighth straight month of year-over-year gains, according to Bloomberg data.
The report speculated that Toyota sales may have risen 7.5%, Honda 22%, Nissan 11%, and Ford 16%.
Before everyone brings out the high-fives celebrating a miraculous recovery, let’s put this rebound in perspective.
Light Vehicle Sales Autos and Trucks
Note the cash for clunkers spike at the end of the last recession bars.
The industry had impressive gains percentagewise, but sales are at early 1980′s levels. This is hardly a V-Shaped recovery.
As you can imagine, the action in equity markets of late is quite satisfying for David Rosenberg, who has been unwavering in his bearish outlook. He isn’t changing his tune now. Rosenberg says there is no v-shaped recovery on the horizon and that this market isn’t (and hasn’t been) trading on fundamentals and is entirely technically driven:
Yesterday’s sharp and broadly based decline in the equity markets was the worst session since April 20 of last year. The S&P 500 is now down 7.6% from the mid-January peak and the Asia-Pacific market is just 40 basis points shy of seeing a 10% correction after having its worst session in 10 weeks; emerging market equity funds lost $1.6 billion in net redemptions in the past week, the largest outflow in nearly six months. Financials were clobbered 4.2% and led the decline, though basic materials weren’t too far behind. Volume swelled as all the major averages fell off — not a good sign for the bulls.
I went for a 5km run at the club I recently joined (I aim to lose 30 pounds ASAP just to get back to being fat again, and the 30 pounds after that will finally take me back to my college days). Fast Money came on the tube and it was almost laughable to see them all grappling for the reasons why the selloff occurred. China here. Greece there. No, sorry. Remember Bob Farrell’s eleventh rule: “it’s the news that makes the market; not the other way around.
He continues to think the market is overpriced and ripe for a serious decline. He throws in a couple of jabs at CNBC while he’s at it:
This is a stock market that is as overpriced as it was heading into the October 1987 crash and as the case back then, it wasn’t about the fundamentals but about policy discord between the U.S., Japan and Germany. A market priced for perfection requires perfection on all fronts.
The comments on Fast Money were that the fundamentals hadn’t changed — this selloff is pure emotion. Really? We had a 70% rally from the March low in advance of any serious turn in the economic data — this was
Monday’s very strong reading in the ISM manufacturing data has many market pundits beating their chests over the v-shaped recovery in the U.S. economy. Many of these pundits (most of whom completely missed the collapse) remain delusional. By almost any metric of the real economy this is anything but a v-shaped recovery. Not only is the stock market still 28% below its all-time high (no v there), but the data from the real economy still shows that the majority of Americans confront a very tough environment. The following four charts from the St. Louis Fed succinctly tell the story:
Last Friday’s lights-out GDP report has revived hopes among bulls that we still might get the V-shaped recovery everyone was predicting last summer.
After a string of disappointing jobs and housing numbers in the fall, it seemed the chance of that had been fading.
But Goldman Sachs economist Jan Hatzius has a grim message: It’s not happening.
In a weekly note, he slams the idea that a sharp fall must be followed by a sharp recovery (the argument put forth by the likes of interest rate guru James Grant).
Hatzius’s argument: Unlike in past recessions, which were caused by Fed tightening, this time the Fed is super loose, and we’ll experience tightening while the economy recovers.
Yesterday Dallas Federal Reserve President Richard Fisher threw a little cold water on the V-shaped recovery madness everyone seems to be buying into these days.
Speaking at a conference in Tyler, Texas, Fisher said he was willing to venture that the increase would not be "as robust as originally reported."
He did say, however, that the growth rate would still be positive – though it would be closer to a rate of 2.5 percent – and that growth would also be positive for the fourth quarter.
Even though he said economic growth would be positive, Fisher cautioned that the high unemployment rates would cause recovery from last year’s financial crisis to be slow.
Managing Expectations
Got the idea the Fed is attempting to manage expectations? If so, that is precisely what the Fed is doing.
When asked about the dollar at a question and answer session following his speech, Fisher said that lower interest rates have not increased the risk of the dollar declining in value. Rather, he said, the weakening of the dollar was due to other major currencies entering the world’s economic system.
"You’d expect with more participants that there might be some kind of rebalancing," but such evolution would be orderly and gradual, he said.
Let me get this straight: The dollar is falling because "other major currencies [are] entering the world’s economic system".
Is he serious? What this proves is these guys absolutely cannot think beyond their prepared remarks.
The Effect of Stimulus
A $trillion in stimulus (not counting bank bailouts) and other stimulus measures not labeled "stimulus" because everyone is getting tired of the word, only got us 2.5%-3.0% of GDP growth.
Heightened appetite for risk does not mean that credit problems have gone away as we see the global speculative-grade corporate default rate rise 12 basis points in October, to 9.71%. And Fitch just published a report indicating that the U.S. banks can expect to see 10% of their $1.1 trillion of direct commercial real estate loans default and that the regional banks can expect to see “significant” cuts in their credit ratings.
As Edward notes, "continued high unemployment is the elephant in the room which higher asset prices can not make disappear." Logically, the asset prop-up benefits those with assets to a greater extent than those with no assets-- so do policy makers even see growing inequality as a problem? – Ilene
The US Department of Agriculture highlights how the United States in the last decade, despite increased aggregate wealth, slid back significantly in terms of food insecurity as measure of poverty. With everyone now focused on the unemployment situation, it bears noting that even before the downturn in the economy there had been a large surge in food insecurity nationwide.
The table below, also from the Guardian, shows where food insecurity is highest. While much of the distress is concentrated in the South, there are plenty of states in the Southwest and West as well. Maine has the highest food insecurity in the Northeast.
My interpretation of the data goes to income inequality. I see this as evidence that the last decade of growth in the U.S. has not been beneficial for poorer Americans. However, I would go further in saying that the downturn in the U.S. and rising unemployment, bankruptcy and foreclosure in the middle class has made plain that the middle class has also been left behind. While distress amongst poorer Americans is plain from these numbers, the diminished position in the middle class was masked by a surge in debt. This was made plain only as a result of a drop in asset prices.
At present, U.S. policy makers are trying to make this problem go away by reflating an asset bubble, but continued high unemployment is the elephant in the room which higher asset prices can not make disappear.
Forget the permabears, even Pimco’s Bill Gross is now saying a V-shaped recovery is unlikely:
The total bond market yields only 3.5%. To get more than that, high yield, distressed mortgages, and stocks beckon the investor increasingly beguiled by hopes of a V-shaped recovery and “old normal” market standards. Not likely, and the risks outweigh the rewards at this point. Investors must recognize that if assets appreciate with nominal GDP, a 4–5% return is about all they can expect even with abnormally low policy rates. Rage, rage, against this conclusion if you wish, but the six-month rally in risk assets – while still continuously supported by Fed and Treasury policymakers – is likely at its pinnacle. Out, out, brief candle.
Joe, like me, is having a hard time embracing the V-shaped recovery belief. He makes a good point about economics not being either physics or history, and if we’ve seen anything over the last few years, it’s perhaps how wildly the operative economic principles of the day have failed. – Ilene
Well, well. It’s suddenly become very hip to believe in a V-shaped recovery, and to slam the pessimists for not knowing their history. As Jim Grant argued yesterday in the Wall Street Journal, the severity of the slump predicts the severity of the recovery — it’s just like physics!
But economics isn’t physics. And don’t worry about not knowing your history, because economics isn’t history either.
Here’s why we’re not in for a v-shaped recovery.
First, the pax economica that preceded the current slump was artificial. Large swaths of the economy had stopped doing anything productive, while the rest of the economy was buoyed by rising home values that allowed for spending on a level that was disconnected from what people were actually bringing in via income. Of course, you know this part of the story, but the key is that this is meaningfully different than the situation heading into previous economic slumps.
The other reason why we’re not in for a "V" is that the economy, even without the credit-collapse, is still in the midst of violent changes in the economy. New technology and new business models are uprooting old businesses (whether it’s media, manufacturing, or commercial real estate), throwing labor and capital into disarray. Ultimately the transition will be good, but in the meantime, displaced workers will face an unusual amount of lag in finding new work, if only because the industries that were they yesterday have gone and disappeared, requiring extensive levels of retraining.
There are other aspects too, such as the size of government and demographics that look increasingly unfavorable.
Curiously, Jim Grant’s admonition to remember history only mentions past slumps in the US. We don’t see the word "Japan" mentioned once in the whole article? But unless the laws of economics are different there than they are here, then we can certainly point to examples of bad busts that weren’t followed by a quick snap back.…
Rogue science strikes again: The case of the first gene-edited babies
Chinese scientists led by He Jiankui claimed they used CRISPR to modify human embryos that eventually were born as twin girls. AP Photo/Mark Schiefelbein
The idea of scientists tinkering with the genes of babies was once the provenance of science fiction, but now it’s apparently entered the realm of reality: On Nov. 26, Chinese scientist He Jiankui reported the historic live births of ...
Soon US smokers could see the shocking visual warning labels on cigarette packets that Americans have come to identify with Europe. US health officials are making a new push to require graphic images to be placed on every cigarette pack by law across the US to discourage smoking, as the current mere textual warning hasn't changed since 1984. The Associated Press reported this week:
The Food and Drug Administration on Thursday proposed 13 new warnings that would appear on all cigarettes, including images of ...
Negative yields are becoming common for many of the world’s most mature economies. The process of extending negative yields within these economies suggests that safety is more important than returns and that central banks realize that growth and increases in GDP are more important than positive returns on capital. In the current economic environment, this suggests that global capital investors are seeking out alternative solutions to adequately develop longer-term opportunities and to develop native growth prospects that don’t currently exist.
Our research team has been researching this phenomenon and how it relates to the continued “capital shift&rdq...
Plus Therapeutics Inc (NASDAQ: PSTV) is the latest and one of the most extreme recent examples of the powerful combination of low float and heavy trading volume.
Plus shares traded higher by more than 215% on Friday. The biotech stock more than tripled after the company reported ...
After a big day like yesterday, I like to get a little long term stock market chart perspective. (Yes, this stilted verbiage is for search engine optimization ).
We do that with a monthly bar chart, which I update when relevant in Lee Adler’s Technical Trader. That’s in addition to the regular daily bar/cycle charts covering the past year, and a weekly cycle chart covering the past 4 years.
I wrote on July 14, in reference to the price and indicator patterns on the weekly chart:
The market has overshot a 3-4 year cycle projection in terms of both price and time. There are no long term projections. A 4 year cycle high is ideally due now. A 4 ye...
Crude Oil has declined around 14% more than the S&P during this time frame. Yields have declined, even more, around 36%. The is a huge spread between these assets over this short of a time period.
Today's news from the US IRS has been blamed for the recent price slump, yet the bitcoin fractal like the gold fractal suggest the market players have set bitcoin up for a slump to $9000 USD long before the IRS news hit the wire.
Get the impression some market players missed out on the b...
Bitcoin and other cryptocurrencies have been on a persistent upswing this year, but they're still pretty volatile. But during a time when even some of the most developed economies in the word are watching their currencies bounce around like the Argentine peso (just take a look at a six-month chart for GBPUSD), New Zealand has decided to take the plunge and become the first country to legalize payment in bitcoin, the FT reports.
The ruling by New Zealand’s tax authority allows salaries and wages to b...
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...
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.
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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Well, well. It’s suddenly become very hip to believe in a V-shaped recovery, and to slam the pessimists for not knowing their history. As Jim Grant 
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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...
Ilene is editor and affiliate program
coordinator for PSW. She manages the site