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The Dystopian Vision Of The Health-Information Police

The Dystopian Vision Of The Health-Information Police Authored by Laura Powell via The Brownstone Institute, When Assemblymember Evan Low, the principal author of California Assembly Bill 2098, told the California Senate Committee that his bill was “really straightforward, very straightforward,” many of us in the gallery failed to restrain ourselves from expressing our incredulity.  He delivered this statement at the conclusion of a hearing that had lasted over an hour, during which it seemed no two Senators on the committee had the same idea of how the law would operate. Assemblymember Low had struggled to respond to questions from the committee and had often resorted to simply reading the text of the bill. That June 26 hearing presented the only time any legislators questioned the bill during its entire passage through the legislative process. Assembly Bill 2098 would empower the Medical Board of California to go after the licenses of physicians who disseminate “misinformation” or “disinformation” regarding Covid-19. The bill in its latest iteration defines misinformation as “false information that is contradicted by contemporary scientific consensus contrary to the standard of care.” The inscrutability of this definition lies at the core of the bill’s opponents concerns.  No clear scientific consensus exists with respect to this novel virus, and even if it did, it may be proven incorrect later. Without clear guidance regarding what would constitute “misinformation,” physicians can only guess if they risk losing their licenses for expressing their good-faith disagreements with positions of public health officials. Even if in practice, the Medical Board only applied the law to speech that the First Amendment does not protect, the law’s vagueness would render it unconstitutional, because it would tend to cause doctors to censor themselves. The million-dollar question remains unanswered: Who would be targeted by Assembly Bill 2098? On one hand, the California Medical Association, the bill’s sponsor, cites the example of doctors who call “into question public health efforts such as masking” as creating the need for this bill. Likewise, the taxpayer-funded lobbying group County Health Executives Association of California decries “a small minority of medical professionals” who have led some Californians to “reject public health measures such as masking and physical distancing.”  The analysis of the bill from the Senate committee, in discussing the need for this bill, cited the example of the state of Florida refusing to take action against the license of Florida Surgeon General for, among other things, “question[ing] the value of face masks in preventing the spread of the pandemic.” The idea that the effectiveness of masks in preventing the spread of Covid is part of the “contemporary scientific consensus” confirms physicians’ fears that they would risk discipline for questioning any edict from public health on Covid. On the other hand, when critics of Assembly Bill 2098 argue that questioning the effectiveness of masks falls well within the bounds of legitimate difference of opinions, proponents poo-poo their concerns about the law being applied in an overly broad way and insist that the law would only be used against truly “bad doctors.” But imbuing bureaucrats with power while trusting they will not exercise it would be incredibly foolish.  Some, such as Assemblymember Low, bill co-author Assemblymember Akilah Weber, and a representative of the California Medical Association, imply that this bill would only apply in cases of intentional harm. There is nothing in the letter of the law that limits the bill’s reach to situations where someone was harmed or where the information was disseminated knowing it was false. (Intentionally misleading would fall under the definition of “disinformation” as opposed to “misinformation.” An earlier draft of the bill mentioned harm to a patient as a factor for the Medical Board to consider.)  Members of the Medical Board of California itself have expressed confusion about how the law would be applied and withheld its support initially. MBC President Kristina Lawson, an attorney who has been a driving force behind this bill, claims to have clarity about how it would be applied but apparently is only willing to discuss the matter in private.  While most proponents say as little as possible regarding Assembly Bill 2098’s implications, one group is more vocal and less guarded in its statements. Two self-described “frontline” California doctors, Nick Sawyer and Taylor Nichols, formed No License for Disinformation (NLFD) in September 2021.  As its name suggests, the organization’s purpose is to promote policies that use the threat of medical license revocation to discourage doctors from spreading information it believes to be false. Sawyer has twice testified before legislative committees in favor of Assembly Bill 2098. NLFD’s prolific tweets and other public statements paint a dystopian picture that reflects opponents’ worst fears of the type of authoritarian regime proponents wish to impose.  NLFD pushes the idea that there is, as Sawyer described it his testimony before the Assembly committee on April 19, a “well-coordinated and well-funded network of doctors” who promote “anti-vaccine conspiracy theories, sow distrust in the Centers for Disease Control and Prevention, the federal government, and ultimately the Covid-19 vaccines.”  At the outset, note the irony that NLFD frequently criticizes “conspiracy theorists” while promoting its own conspiracy theories. And NLFD not only wants to silence those who undermine faith in public health measures, but anyone who “sows distrust” in the government. Let that sink in. NLFD’s tweets elaborate on its conspiracy theories, which are, like most conspiracy theories, built on weak evidence that magnify tenuous connections. A recent tweet shared a long thread posted by one of its founders that purports to uncover a web of right-wing “disinformation” purveyors funded by oil money. It implicates, among others, anyone associated with the Great Barrington Declaration or Brownstone Institute and specifically names UCSF professor and doctor Vinay Prasad, journalist and author David Zweig, and Johns Hopkins epidemiologist Stefan Baral as part of this cabal.  An August 13, 2022 tweet promotes a Substack article, written by NLFD “Research Consultant” Allison Neitzel, which calls America’s Frontline Physicians, Front Line COVID-19 Critical Care Alliance, the authors of the Great Barrington Declaration, and The Unity Project the “Big 4” responsible for a “physician-led attack on public health.” NLFD has often identified these four as its primary targets, sometimes adding the American Association of Physicians and Surgeons and Urgency of Normal to its hit list. NLFD asserts, without any basis, that these groups work together.  Some of NLFD’s targets, such as the Urgency of Normal’s leadership, are mainstream physicians. NLFD dismisses them as ranging from “formerly well respected immunologists to outright frauds.” It links to a long thread from one of its founders that accuses Urgency of Normal of being part of a right-wing operation to promote an “anti-mask narrative.”  It complains that CNN gave Dr. Jeanne Noble, Associate Professor at UCSF, a platform. It retweeted a tweet calling for Dr. Lucy McBride to be reported to the medical board for opposing mask mandates in schools and responded with a link directing the public on how to do so. It dismissed every doctor who participated in a roundtable hosted by Florida Governor DeSantis, which included Dr. Tracy Høeg, as “Covid deniers” and “disinformation doctors” and warned that no one should accept medical advice from any of them. These attacks contradict any claim that NLFD claims only wants to silence doctors who peddle dangerously false medical advice rather than those who have good-faith disagreements with official Covid policy. The inclusion of the authors of the Great Barrington Declaration—Sunetra Gupta, Martin Kulldorff, and Jay Bhattacharya—at the top of NLFD’s hit list is puzzling. Not only does the declaration espouse a conventional viewpoint, none of the Great Barrington Declaration’s authors is a practicing physician and therefore law like Assembly Bill 2098 would not affect them.  NLFD has called out the Great Barrington Declaration around a dozen times and frequently targets Stanford professor Bhattacharya in particular (he earned a medical degree but does not practice medicine or hold a medical license). NLFD doesn’t just accuse Bhattacharya of being wrong, it accuses him of intentionally lying, calling him a “disinformation doctor” and a “prominent purveyor of Covid-19 disinformation,” accusing him of telling lies that have killed people (along with Vinay Prasad), and insinuating he should be reported for perjury. In addition to its direct attacks, NLFD has retweeted dozens of criticisms of Bhattacharya and seemed to delight in a journalist getting Twitter to temporarily suspend his account for a minor oversight. NLFD’s messaging has an unquestionably partisan slant, despite claiming to be nonpartisan. It has posted dozens of tweets critical of the Republican Party. Some of these criticisms do not clearly relate to the organization’s mission of combating misinformation.  For example, this August 8, 2022 thread attacks Republican lawmakers for opposing a drug pricing control provision in a bill. The same day, another tweet alleges that the GOP Doctors Caucus is allied with “Pharma Bro” Martin Shkreli. They attempt to tie this issue in with their mission by asserting that Republicans in general are “affiliated with licensed physicians” spreading Covid misinformation.  In another recent example, NLFD posted a clip from 2017 accusing Rand Paul of being in cahoots with Putin. It had previously suggested that Paul should be reported to the medical board for reasons it doesn’t identify. NLFD has even branched out to opine on political issues totally unrelated to the practice of medicine, encouraging the public to report “harassment, intimidation, and threats of violence” against school board members or staff to the FBI. NLFD has numerous posts elaborating on its idea of a right-wing, Republican-led conspiracy to spread disinformation. It uses the phrase “disinformation pipeline” to describe an alleged process by which Republicans in state legislatures deliberately harm public health by “institutionalizing disinformation” through, for example, passing laws that shield doctors from discipline for controversial Covid treatments. It claims that the overall Republican agenda is to “create fear/animosity/victimhood amongst supporters, whipping up anti-science/anti-government sentiment making them more likely to take up arms against the government.” It has asserted that “[a]ll COVID disinformation doctors are inextricably tied to Trump.”  Many of NLFD’s conspiracy theories are quite dark and disturbing. It recently retweeted a thread from its own Nick Sawyer, which argues that the United States is currently in the midst of a civil war, which goes unrecognized because it is an information war. Another recent tweet exhorts: “This is an information war, a battle for the truth, and [every] American is a soldier. Get up to speed and start fighting for evidence based reality. No one is going to do this for us.”  NLFD’s primary weapon in this imagined information war is censorship, but it also advocates for criminal prosecution for expressing the wrong ideas. It frequently encourages its followers to report physicians to their medical boards, even if they have no relationship with them. It also frequently calls on Twitter to deplatform accounts it feels say things that are untrue. But it goes even further, tagging the FBI and posting a link to the FBI tip line, asking its followers to report people for alleged misinformation.  It tags the United States Department of Justice’s Criminal Division in its tweets. It calls its targets a “threat to national security.” NLFD erroneously claims that under current California law, a physician can be criminally prosecuted for any untrue statement. NLFD wants to go far beyond having medical boards discipline licensed physicians—they want to see their enemies in jail. Against this backdrop of NLFD’s other public statements, it’s hard to imagine how Sawyer managed to sound sincere when he told the Senate committee: “This bill is not supposed to cause problems with physicians’ free speech around academic discussion. This bill will allow the medical board to discipline doctors who say things like the vaccines cause AIDS or that the vaccines are killing more patients than Covid, using manipulated data or that the vaccines are implanting microchips so the government can track you. I’m all for academic debate—in fact, we wouldn’t be where we are today without robust academic debate, but that’s not what this is about.” Make no mistake—Assembly Bill 2098 is not just about protecting patient safety. That is why one member of the Medical Board of California warned that the bill would be counterproductive to the Board’s mission. Assembly Bill 2098 was not the brainchild of Assemblymember Low or any other California lawmakers. It’s part of an effort to enact similar policies around the country, sparked in large part by a declaration from the Federation of State Medical Boards in July 2021.  California is often described as a bellwether: “As California goes, so goes the nation.” That saying rings especially true with respect to Assembly Bill 2098, given that this is a test case for a national movement and that Governor Gavin Newsom has obvious presidential aspirations.  The bill will become law on January 1 unless the governor vetoes by September 30, and even then, the Democrats who voted for the bill have sufficient numbers to override a veto. Then we will discover whether our high courts still uphold the principle of free speech or whether they will allow themselves to be co-opted by the soldiers fighting to be the arbiters of Truth. Tyler Durden Mon, 09/26/2022 - 22:20.....»»

Category: blogSource: zerohedge1 hr. 38 min. ago Related News

Activist Kimmeridge Discloses 14.7% Silverbow Stake With Options To Unlock Value

Discusses the 13D filing, activist commentary and other company analysis Houston based oil & gas company SilverBow Resources Inc (NYSE:SBOW) received a 13D filing from activist investor Kimmeridge Energy Management Company LLC on Friday afternoon disclosing a 14.7% stake in the company, which rose from 12.1% previously. Kimmeridge Energy Management is an alternative asset manager […] Discusses the 13D filing, activist commentary and other company analysis Houston based oil & gas company SilverBow Resources Inc (NYSE:SBOW) received a 13D filing from activist investor Kimmeridge Energy Management Company LLC on Friday afternoon disclosing a 14.7% stake in the company, which rose from 12.1% previously. Kimmeridge Energy Management is an alternative asset manager that focuses exclusively on the energy sector with the intention of accelerating carbon neutrality by developing environmentally responsible, low-cost energy assets. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Kimmeridge Believes Silverbow's Shares Are Undervalued The asset manager in the filing initially stated that they made the 13D filing because they believe shares are undervalued and represent an attractive investment opportunity and comes after the stock lost more than -45% of its value over the last month. Kimmeridge stated that they intend to continue to seek engagement with SBOW’s Board for a range of operational and strategic matters including the company’s: Operations Management Organizational documents Board composition Ownership Capital or corporate structure Dividend policy Strategy plans Kimmeridge also noted that they wish to communicate with other shareholders or third parties that include potential acquirers, service providers and financing sources for the company. The bottom line is that the fund manager believes there are strategic opportunities that can be pursued to maximise shareholder value through the use of asset or corporate consolidation. Kimmerdige has been amassing the current stake in the company for quite some time with the most recent sizable accumulation occurring between the 8th to the 11th of July where the fund accumulated ~578,000 shares between $27.40 and $30.05 per share. Following the accumulation of shares by Kimmeridge, on the 20th of September, SilverBow management adopted a limited-duration stockholder rights plan effective immediately which would act as a “poison pill”.  The plan intends to protect SilverBow from any single stockholder from gaining control of the company without paying a premium. The rights will be exercisable at $160. Fintel’s insider accumulation score of 76.16 is bullish on the company based on the company ranking in the top 5% of 14,554 screened stocks. This number is calculated by including the net number of insiders buying and the total shares bought as a percentage of the float over the last 90 days. SBOW has actually had 2 net insiders who have sold stock over the previous 90 days consisting of one fund purchasing stock, one fund selling stock and two company directors selling stock. Directors Gabriel Ellisor and Charles Wampler took the opportunity to trim their position of shares in the trading window post results that occurred over August. Strategic Value Partners LLC was the selling fund in the past 90 days who reduced their total share count to 4.1 million or around 18.5% total ownership of the float. The company last released a financial update to shareholders in early August when providing their second quarter update. The company grew oil & gas revenues by 160% over the year to $182.6 million. The groups adjusted EBITDA rose from $42.8 million to $85.4 million, boosted by higher oil prices over 2022.  However SBOW’s free cash flow was negative at -$2.7 million, falling from $7.4 million in the prior year. The free cash flow was constrained by significant increases in Capex over the year from $26.2 million to $74.5 million. The group's leverage ratio ended the quarter at 1.42x with management targeting a leverage ratio of about 1.0x by the end of 2022. SilverBow expects to grow production by 30% over 202 and 2023 which they believe will result in the free cash flow yield exceeding 25% in 2023. The chart to the right from Fintel’s financial metrics page for SBOW shows revenue and profitability by the energy producer over the last 5 years with the share price. Following the result, Neal Dingmann from Truist Securities highlighted to investors that he believes the company could focus exclusively on gas if materially higher prices hold out. Dignmann noted that shares continue to trade at a deep discount to peers which he believes may prompt action from one of the largest holders. The firm remained ‘buy’ rated on the stock with a $62 price target. Dingmann’s prediction came true with Kimmeridge pushing for action in the latest notice. Also in September, firm KeyBanc Capital Markets initiated coverage on the stock with an ‘overweight’ recommendation and $58 target price.  On average, SBOW has a consensus ‘buy’ rating and $75 average price target across the street. Article by Ben Ward, Fintel.....»»

Category: blogSource: valuewalk9 hr. 6 min. ago Related News

Biden"s student loan relief plan will cost $400 billion. Republicans call it "unsustainable" and Democrats say it will give "Americans more breathing room."

The price tag for President Joe Biden's student debt forgiveness plan is about half of this year's national defense budget. George Washington University student Kai Nilsen and other student loan debt activists rally outside the White House a day after President Biden announced a plan that would cancel $10,000 in student loan debt for those making less than $125,000 a year in Washington, DC, on August 25, 2022.Photo by Craig Hudson for The Washington Post via Getty Images A new report from the Congressional Budget Office finds student loan relief will cost $400 billion. That figure also doesn't account for losses from reforms to income-driven repayment plans. But the figure pales in comparison to spending on defense, and will benefit millions of borrowers. At the end of August, President Joe Biden finally fulfilled a long-awaited campaign promise, and canceled up to $20,000 in student loan debt for some borrowers — a move that immediately drew ire from the right over its fairness and potential cost.Now, the nonpartisan Congressional Budget Office is shedding light on how much relief will cost: $400 billion, plus $20 billion from outstanding loan payments and interest being paused through December. That $400 billion comes from the difference between how much borrowers were expected to repay before cancelation was announced, versus how much they'll pay now, with the CBO's data projecting the potential impact over the next 30 years.The figure is "even worse than we thought," Marc Goldwein, senior vice president for policy at the Committee for a Responsible Federal Budget, told Insider. "This is only the debt cancellation. This does not account for the income driven repayment reforms.""It's almost unthinkable that the administration would announce such a large policy and not even know, or not even tell us how much it costs — particularly, we're talking about something that costs 400 billion dollars plus," Goldwein said. It's a figure that will likely stoke continued GOP concerns over the cost of Biden's policy. The CBO estimates come partially in response to questions raised by Reps. Virginia Foxx and Richard Burr. Foxx, a Republican from North Carolina, has been an outspoken opponent of Biden's relief plan — and previously introduced legislation to preemptively block it.The estimate "shows this administration has lost all sense of fiscal responsibility," the Republican from North Carolina said in a statement. "Rather than working with Congress to bring down college costs, President Biden has opted to bury the American people under our unsustainable debt," Foxx said.However, the Government Accountability Office found in July that the government was already losing money on federal student loans partially due to pandemic-related pauses, even before Biden announced cancelation. The $400 billion also pales in comparison to major expenditures from the administration, like $796 billion on defense in 2022.The student loan relief will disproportionately impact Black and Latino borrowers, millennials, and public servants such as teachers, police, and non-profit workers. A Census Bureau report found that Black and Hispanic women will see the biggest reductions among borrowers holding student loans, with 5.4% and 4.7% respectively seeing their loans completely wiped. Borrowers who will see their debts wiped completely previously told Insider that the relief is life-changing."Today's CBO estimate makes clear that millions of middle class Americans have more breathing room thanks to President Biden's historic decision to cancel student debt," Sens. Elizabeth Warren and Chuck Schumer — two Democrats who have been on the frontlines of pushing for broader relief — said in a joint statement."We don't agree with all of CBO's assumptions that underlie this analysis," they said, "but it is clear the pandemic payment pause and student debt cancellation are policies that demonstrate how government can and should invest in working people, not the wealthy and billionaire corporations."Read the original article on Business Insider.....»»

Category: topSource: businessinsider9 hr. 6 min. ago Related News

Best ETFs of Last Week

Wall Street was downbeat last week as recessionary fears mounted on steeper Fed rate hikes. Rate hikes have been rampant globally. Wall Street was downbeat last week. Each of the key equity gadgets — the S&P 500 (down 4.7%), the Dow Jones (down 4%), the Nasdaq Composite (down 5.1%) and the Russell 2000 (down 6.6%) — lost last week. Rising rate worries and recessionary fears were the key concerns.The benchmark S&P 500 dropped 1.7% on Friday, hitting a fresh 2022 low. The Dow Jones Industrial Average retreated 1.6% on Sep 23, briefly falling into the bear market territory at one point during the session and closing at a 2022 low. The technology-heavy Nasdaq Composite fell 1.8%, while Russell 2000 was off 2.5%.Meanwhile, the 2-year U.S. Treasury note notched past a 15-year high of 4.2% and the 10-year U.S. Treasury held near 3.7%, marking the highest level since 2010, per a Yahoo Finance article. In commodity markets, crude oil fell sharply, with United States Oil Fund, LP USO falling 5.3% on Sep 23 and losing 6.6% for the week. Recessionary fears weighed on the demand for oil and gas.Last week, Federal Reserve officials raised interest rates by 75 basis points three times in a row and Chair Jerome Powell indicated that policymakers were ready to digest the economic recession in order to tame inflation. Central banks around the world have recently been on this path.The Bank of England hiked its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to "respond forcefully, as necessary" to tame inflation, despite the economic concerns. The BoE estimates Britain's economy will shrink 0.1% in the third quarter.The Central Bank of Sweden announced a 100 basis points hike in interest rates last week, saying that the inflation was too stubborn. Despite the 100-bps hike, the Riksbank is still behind its inflation target by 0.25%, which indicates further rate hikes. The Swiss central bank also hiked rates by 75 basis points to 0.5% Thursday. The move brought an end to an era of negative rates in Europe.Rising yields globally particularly hurt valuations of companies in the growth sector (e.g. technology, biotech and Internet), which have high expected future earnings. Against this backdrop, below we highlight a few top-performing ETFs of last week. ETFs in FocusSimplify Tail Risk Strategy ETF CYA – Up 20.3%This ETF is active and does not track a benchmark. The Simplify Tail Risk Strategy ETF seeks to provide investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs.The Short De-Spac ETF SOGU – Up 14.3%This ETF is active and does not track a benchmark. The AXS Short De-SPAC Daily ETF seeks daily inverse investment results, before fees and expenses, that correspond to the inverse of the return of the De-SPAC Index for a single day by entering into swap agreements and by purchasing put options on securities in the Index.Breakwave Dry Bulk Shipping ETF BDRY – Up 13.2%The Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. The Breakwave Dry Bulk Shipping ETF seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities.Tuttle Capital Short Innovation ETF SARK – Up 12.3%This ETF is active and does not track a benchmark. The AXS Short Innovation Daily ETF seeks the daily inverse investment results and is intended to be used as a short-term trading vehicle.Advisorshares D.W. Short ETF DWSH – Up 8.7%This ETF is active and does not track a benchmark. The AdvisorShares Dorsey Wright Short ETF is actively-managed with an investment focus that involves buying securities that have appreciated in price more than the other securities in the investment universe and holding those securities until they underperform.  Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Oil ETF (USO): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports AXS Short DeSPAC Daily ETF (SOGU): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports AXS Short Innovation Daily ETF (SARK): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks10 hr. 6 min. ago Related News

Personal Finance For Newbies

Managing your personal finances involves managing both short- and long-term aspects of your finances. It also refers to an industry that offers products and services to help individuals manage their finances and investments. But, if you’re new to personal finance, all that may not mean much to you. So, let’s explain why personal finance is […] Managing your personal finances involves managing both short- and long-term aspects of your finances. It also refers to an industry that offers products and services to help individuals manage their finances and investments. But, if you’re new to personal finance, all that may not mean much to you. So, let’s explain why personal finance is important, its five areas, and its fundamental principles. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Why is Personal Finance Important? Financial planning is important for managing your day-to-day needs as well as ensuring your financial security in the future. Generally, people who spend more than they earn or their entire income don’t feel insecure and anxious when their retirement period approaches, but they will feel insecure when they reach retirement. According to a Mind over Money survey by Capital One and The Decision Lab, more than three in four Americans (77%) worry about their financial future. There are a variety of financial concerns, from saving for retirement to paying for a home or education for your child. In terms of financial concerns, Americans are most concerned about not having enough money for retirement (68%), keeping up with the cost of living (56%), and managing debt levels (45%). According to respondents, financial stress impacts all aspects of Americans’ lives, causing fatigue (43%), difficulty concentrating at work (42%), and trouble sleeping (41%). And, about a quarter of respondents (25%) said their relationships were affected by financial stress. The purpose of personal finance planning is to handle your finances effectively and to meet your financial goals while making sure that your future is secure. In personal finance, all aspects of finances are considered, including: Budgeting Debt Estate Planning Insurance Investments Social Security Retirement Risk Management Taxes Wealth Management To live a healthy, happy, and secure life, it is crucial to have basic financial skills. It can make a difference between prosperity or poverty in your life if you understand the fundamentals of budgeting, saving, debt, and investing. What are the Five Areas of Personal Finance? Despite the fact that personal finances cover a wide range of topics, they can all be categorized into five broad categories: income, spending, savings, investing, and protection. After all, developing your financial plan is all about these five things. 1. Income A person’s income refers to the amount of money they receive and use to support themselves and their families. As such, the process of financial planning begins here. There are a variety of income sources, including: Earned income. For most people, this is their primary source of income, aka their day job. People typically rely on this source of income for the majority of their income. Regardless of whether you’re paid hourly or salary, you’re trading your time for money. Business income. You’re a business owner. There are two ways to earn a living: you can make and sell things or you can provide services. Interest income. You earn this income by lending out your money. The money could come from a CD, P2P lending, real estate crowdfunding, fix-and-flip debt deals, or simply a savings account. Dividend income. In this case, it refers to money you receive if you own company shares. Rental income. You own something that you rent out. Renting apartments for monthly payments is probably the most common way to own a rental property. However, you could rent out a room on Airbnb or your vehicle on Turo. Capital gains. The money you earn when you sell an investment, such as stocks, is called capital gains. Royalties/licensing. Someone uses your product, idea, or process. Every time they do, they pay you a small fee. An individual can use each of these sources of income to spend, save, or invest the cash they generate. As such, income can be considered the first step in our personal finance roadmap. 2. Spending Any expense that is related to buying goods and services or anything consumable (e.g., not an investment) can be considered spending. There are two categories of spending: cash (purchased with cash on hand) and credit (purchased with borrowed funds). Typically, spending accounts for a significant portion of most people’s income. According to the U.S. Bureau of Labor Statistics, here are the percentages of what the average American spends each month. Housing — 33.8% Transportation — 16.4% Food — 12.4% Personal insurance and pensions — 11.8% Healthcare — 8.1% Entertainment — 5.3% Cash contributions — 3.6% Apparel and services — 2.6% Education — 1.8% All of these expenses reduce the amount of cash an individual has available for investment and saving. In case of a deficit, an individual has more expenses than income. The key to managing expenses is controlling your discretionary expenses, which are typically easier to control than your income. Overall, for good personal finance management, you need good spending habits. 3. Saving Saving is reserving excess cash for any future investments or consumption. You can save or invest the difference between your income and your spending if you have a surplus. In addition to short-term goals like an emergency fund, savings accounts can also be used to stash away cash for long-term goals like a down payment. The most common types of savings accounts include: Traditional savings accounts. When you think about where to save, you may immediately think of traditional savings accounts. Typically, you can find these accounts at traditional banks and credit unions. High-yield savings accounts. The majority of these can be found at online banks, neobanks, and credit unions. In comparison to regular savings accounts, they offer a higher annual percentage yield. Your money will grow faster with this type of savings account. Money market accounts. A money market account (MMA) combines the features of a savings account and a checking account. They’re available at brick-and-mortar banks, online banks, and credit unions. CD account. Your money stays in the account for a set amount of time with certificates of deposit (CDs). As your money earns interest, you can either withdraw your savings or roll them into another CD when it matures. Due to a time factor, these accounts aren’t like other types of savings accounts. Cash management account. In contrast to other savings accounts, cash management accounts aren’t designed specifically for saving. This type of account lets you hold cash that you may invest in a retirement account or a taxable brokerage account in the future. Specialty savings accounts. Rather than serving as a catch-all for the money you won’t spend, these are designed to help you meet specific savings goals. Sometimes they aren’t intended for savings, but rather for a specific type of person. 4. Investing Investing involves buying assets whose return is expected to be high, with the hope of receiving more money in the future than was initially invested. There’s risk involved with investing, and not all assets produce positive returns. This is where risk and return meet. Investing can take many forms, including: Stocks Bonds Mutual funds Exchange-Traded Funds (ETFs) Retirement Plans, such as 401(k)s and IRAs Annuities Real Estate Private Companies Commodities, like metals or agriculture Art The most complex area of personal finance is investing. So, it’s no surprise that this is where professional advice is most sought. Investments differ greatly in risk and reward, which is why most people seek professional advice. 5. Protection In terms of personal protection, there are a wide variety of products that can be used in order to shield against unexpected and adverse events. Among the most common protection products are: Life Insurance Health Insurance Estate Planning Often, people seek professional advice in this area of personal finance, as it can become quite complex. In order to properly assess an individual’s insurance needs and estate planning needs, a lot of analysis is required. What are the Fundamental Principles of Personal Finance? The Jump$tart Coalition for Personal Financial Literacy is a Washington DC-based organization that promotes teaching personal finance to young people. A long time ago in a galaxy far, far away, Jump$tart Coalition published a list of 12 personal finance principles that anyone can benefit from. Here are a few quick descriptions of each principle: 1. Know Your Take-Home (Net) Pay Consider how much income will be left over after all mandatory deductions before making significant expenditures, such as credit card debt, car loans, or a mortgage. 2. Pay Yourself First Make sure you keep an affordable amount aside every month for long-range goals and unexpected emergencies, rather than paying bills and other obligations every month. 3. Start Saving Young You can increase your savings by both earning interest on savings and saving over a longer period of time. To put it another way, you should begin saving for your future as soon as you can. The more you save, the more interest you’ll earn. 4. Compare Interest Rates Find out what rates are available at different financial services firms, so you can make the most informed decision. The same is true when you take out loans or lines of credit as well. 5. Don’t Borrow What You Can’t Repay You’ll be more likely to be approved for credit if you’re a responsible borrower. With that said, take a look at your total payment obligations and the income you’ll have to cover them before you borrow. 6. Budget Your Money Prepare an annual budget based on your income and expenses. Think of a budget as your roadmap for building your savings and living within your means — as opposed to thinking that budget is a filthy word. 7. Money Doubles By “The Rule of 72″ Divide the interest rate by 72 to find the length of time it will take for your money to double. A 72-year account earning 6% interest, for example, will double in 12 years. 8. High Returns Equal High Risks When you invest in something that has a high return on investment, you’re likely to take on more risk. But, when you diversify your investments, you reduce your investments’ risk. 9. Don’t Expect Something for Nothing Any financial offer that promises free investment returns or a guaranteed return on investment should be avoided. A lot of times, if something sounds too good to be true, it probably is. 10. Map Your Financial Future Prepare a list of both short-term and long-term financial goals. Then create a realistic road map to reach your goals. 11. Your Credit Past Is Your Credit Future You should be aware that credit bureaus maintain credit reports, which record borrowers’ repayment history. If your credit report contains negative information, you may have difficulty borrowing in the future. 12. Stay Insured An illness or accident can wipe you out financially, which is why you should purchase insurance. Every individual should have an insurance plan as part of their financial planning. How to Get Started With Your Personal Finance Education Regardless if you’re in your 20s looking for ways to pay off your student loans or a retiree wanting to stretch your savings, it’s never too late to expand your financial knowledge. Why? Your financial stability will improve and your ability to manage your money will improve. At the same time, the purpose is not to become an expert in this field. Regardless, it’s important to become familiar with a variety of personal finance topics from tax deductions to investing to retirement planning. To help you increase your financial knowledge, here are some suggestions: Read magazines, journals, and online features on financial topics. You can learn a lot about your finances by reading both print and online financial publications. Additionally, they can help you plan for the future by providing insight into long-term financial goals. You can learn how to manage your money by reading books. The right book can give you in-depth information about your finances and provide you with the help you need to adjust the way you perceive and use money. For savvy readers, here are 12 personal finance books you should put on your reading list. Spend time listening to podcasts about finance and money. If you do not have time to read, listening to a podcast is a great option. Additionally, you can cook, exercise, and travel while doing this. Take advantage of financial management tools by downloading them. Newbies may find financial management daunting. You can simplify your finances with the many money tools available today thanks to modern technology, like robo-advisors. Consider taking a financial literacy course. You can ask questions and learn from a teacher while receiving financial instruction in a structured environment. You can find online schools, college courses, and adult education centers that offer these financial programs. Hire a professional to help you plan your finances. A financial plan, in contrast to a budget, sets priorities for achieving long-term goals 10 to 30 years in the future. If you need assistance planning, saving, retiring, or repaying debt, you might consider hiring a professional financial advisor. FAQs How do I make a budget? To begin with, keep track of all of your income and expenses in the coming months. Once you have a complete understanding of your budget, you can make changes accordingly. You can use this information to identify areas where you can save money, cut costs, and eliminate debt. Every once or twice a year, you should revisit your budget. A budget should be updated if income or expenses have significantly changed since last time. Is your emergency fund sufficient? Most experts recommend keeping at least three to six months’ worth of expenses in your emergency fund. However, several factors can affect this, including: Job security and income Your field’s job market Cost of living in your area Your lifestyle The affordability of your health insurance As an example, you should have at least $12,000 to $24,000 in your emergency fund if you spend roughly $4,000 per month on essential living costs. Should I pay off debt or save for retirement? Answering this question requires consideration of your financial situation. But, you might find some inspiration in your budget. If you have the option, start building your retirement savings through your employer’s 401(k) plan. You should then review your budget and find ways to reduce your debt by cutting costs. With the help of a financial planner, you can pay off debt and save for retirement. How can you improve your credit rating? Building your credit is all about paying all your bills on time, every time, over months and years. But, the following things will also help you improve your credit: Check your credit report for errors and correct them Make sure you settle your outstanding balances as soon as possible Ensure that credit utilization is below 30% Limit the number of new credit requests Make sure old accounts are kept open and late payments are resolved Credit rating building is a long-term game, so staying consistent will allow you to reach your goal most effectively Are you ever done saving? In a nutshell, no. Ideally, you should save enough to cover your essentials and periodic expenses, but not unexpected ones. Maintenance on your house and vehicle, vacations, and special gifts all come under this category. Besides regular savings, you should also have enough to pay off credit card debt or replace your car’s tires in case of an emergency. These aren’t true emergencies because you know they’ll happen eventually. Although you can’t always predict when they’ll happen, planning for them is still prudent. Article by John Rampton, Due About The Author John Rampton is an entrepreneur and connector. When he was 23 years old, while attending the University of Utah, he was hurt in a construction accident. His leg was snapped in half. He was told by 13 doctors he would never walk again. Over the next 12 months, he had several surgeries, stem cell injections and learned how to walk again. During this time, he studied and mastered how to make money work for you, not against you. He has since taught thousands through books, courses and written over 5000 articles online about finance, entrepreneurship and productivity. He has been recognized as the Top Online Influencers in the World by Entrepreneur Magazine and Finance Expert by Time. He is the Founder and CEO of Due......»»

Category: blogSource: valuewalk11 hr. 6 min. ago Related News

Least-Hurt Tech ETFs From Worst Stretch Since COVID Outbreak

The tech-heavy Nasdaq Composite has declined more than 5% in two successive weeks, per a CNBC article. It marked worst two-week stretch since Mar 2020. The tech-heavy Nasdaq Composite has declined more than 5% in two successive weeks.This marked the worst two-week stretch for the tech-heavy index since it dropped more than 20% in March 2020 at the start of the COVID-19 pandemic in the United States, per a CNBC article.The biggest tech ETF Technology Select Sector SPDR Fund XLK has lost 11% in the past two weeks (as of Sep 23, 2022). Technology stocks rallied to start the quarter, but firm inflation and steep Fed rate hikes dampened that enthusiasm. The federal funds rate now stands in the range of 3-3.25%, the highest since early 2008, following the third consecutive 0.75 percentage point move last week.In any case, U.S. tech stocks have been hitting rough weather this year as surging inflation has been weighing on their lofty valuations caused by massive policy easing since the COVID-19 outbreak. Though tech stocks tried to recoup losses several times in the recent sell-offs, investors remain cautious about betting big on growth stocks. Hence, shares of high-growth technology companies remain in a tight spot.Among the group of mega-cap companies, Amazon fell 8%, marking the worst week. Google parent Alphabet and Facebook parent Meta each declined about 4%. All three companies are on a cost-cutting mode thanks to waning consumer demand, subdued ad spending, and inflationary pressure on wages and products, as indicted by the CNBC article. Growth expectations for tech earnings are muted for the upcoming quarter.Against this backdrop, below, we highlight a few tech ETFs that experienced lesser loss in the last two weeks (as of Sep 23, 2022).ETFs in FocusSimplify Volt Cloud and Cybersecurity Disruption ETF VCLO – Down 4%The Simplify Volt Cloud and Cybersecurity Disruption ETF seeks to concentrate on just a handful of disruptive companies poised to dominate the new era of the cloud and then enhance the concentrated exposures with options. VCLO charges 95 bps in fees.HCM Defender 100 Index ETF QQH – Down 4.2%The underlying HCM Defender 100 Index seeks to outperform the Nasdaq 100 Index using a proprietary methodology. The expense ratio of QQH is 1.11%.India Internet & Ecommerce ETF INQQ – Down 8.5%The underlying INQQ The India Internet & Ecommerce Index measures the performance of an investable universe of publicly-traded, Indian internet and ecommerce companies. The fund charges 86 bps in fees.iShares U.S. Technology ETF IYW – Down 10.5%The underlying Russell 1000 Technology RIC 22.5/45 Capped Index includes companies in the following sectors: software and computer services and technology hardware and equipment. The Index is capitalization-weighted and includes only companies in the technology industry of the Dow Jones U.S. Total Market Index. The fund charges 39 bps in fees.BlueStar Israel Technology ETF ITEQ – Down 10.4%The underlying BlueStar Israel Global Technology Index considers all Israeli companies regardless of listing venue, and allows for the inclusion of companies operating in a range of industries from information technology to biotechnology to clean and sustainable agriculture and energy technology. The fund charges 75 bps in fees. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Technology Select Sector SPDR ETF (XLK): ETF Research Reports iShares U.S. Technology ETF (IYW): ETF Research Reports BlueStar Israel Technology ETF (ITEQ): ETF Research Reports HCM Defender 100 Index ETF (QQH): ETF Research Reports Simplify Volt Cloud and Cybersecurity Disruption ETF (VCLO): ETF Research Reports India Internet & Ecommerce ETF (INQQ): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks11 hr. 38 min. ago Related News

Gold Waved The White Flag And Began Its Great Decline

As predicted, the dollar grows stronger while gold goes in the opposite direction. Can we expect a temporary correction next? It’s happening! The massive upswing in the USD Index and the slide in the precious metals market are here. Just like you knew in advance. I’m receiving multiple messages where you’re sharing your gratitude with […] As predicted, the dollar grows stronger while gold goes in the opposite direction. Can we expect a temporary correction next? It’s happening! The massive upswing in the USD Index and the slide in the precious metals market are here. Just like you knew in advance. I’m receiving multiple messages where you’re sharing your gratitude with me, and I’m extremely happy that you’re enjoying the results that you were able to get thanks to my help. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   All right, what’s next? First of all, I would like you to keep perspective. The huge slide that we saw on Friday is most likely just a first step lower. A big step, but just the first one, nonetheless. Here’s how the situation looks from a long-term point of view. The Big Picture Gold is below its previous lows but not significantly so. Neither the RSI nor MACD indicators suggest that the decline is over – based on the analogy to 2013 that I described more thoroughly on Friday (and in many previous analyses – you knew about this analogy’s existence for months). Here’s what the situation looks like in the case of the HUI Index – a proxy for gold stocks. After the breakdown below the long-term support line (based on the 2016 and 2020 bottoms), gold stocks consolidated a bit. This means that the breakdown was verified. This, in turn, opened the door wide open for more significant declines. Therefore, the fact that miners just declined significantly on Friday – and moved to new yearly lows – is not surprising. It’s a perfectly normal consequence of the breakdown, and something that’s in perfect tune with the analogy to 2013 (and to a smaller extent with the analogy to 2008). As we zoom in, you can see how big Friday’s daily decline really was. The Little-Huge Detail Will we get a temporary correction from the current levels? We might, or we might not. I previously planned to take profits at – more or less – current price levels, but I dropped this idea based on the fact that we’ve already seen two corrective upswings from below $30 in the GDXJ. Without those two previous corrections, seeing a correction now would have been very likely. However, they did happen, so now it’s relatively unclear if we’re going to see a corrective bounce or not. There’s an old Wall St. saying “when in doubt, stay out,” but what most people miss about this saying is that it makes sense as long as one is thinking about a single time-frame. In this case, it is the very short-term outlook that is unclear (next several days or so), and as a consequence, I’m not participating in a very short-term trade. However, the short-term / medium-term oriented trade – the one that’s based on the likely biggest part of the current decline in the precious metals market is very likely to continue. Consequently, I’m remaining on the short side of the precious metals market, and even if we see a corrective upswing here, I won’t mind that. Not every correction / price move is worth trading – only those with very favorable risk-to-reward ratios. In this case, the corrective bounce ratio is not that favorable. Our profits this year are already huge, so waiting out a relatively short period before they increase even more (of course, I’m not promising any kind of performance) should be rather easy. Instead of a small corrective upswing, we might see a sharp drop to $20. Missing huge profits on the latter would be much worse than having to wait out a very short-term correction. Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today. Przemyslaw Radomski, CFA Founder, Editor-in-chief Sunshine Profits: Effective Investment through Diligence & Care All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice......»»

Category: blogSource: valuewalk12 hr. 6 min. ago Related News

Plural Marriage Recognized In New York Under Key Precedent

Plural Marriage Recognized in New York Under Key Precedent; Could Lead to Right To Marry More, Or Reconsideration of Same-Sex Marriage Plural Marriage Now Recognized In New York WASHINGTON, D.C. (September 25, 2022) – A judge in New York has just ruled that polyamorous relationships – in this case a 3-person married unit living together […] Plural Marriage Recognized in New York Under Key Precedent; Could Lead to Right To Marry More, Or Reconsideration of Same-Sex Marriage Plural Marriage Now Recognized In New York WASHINGTON, D.C. (September 25, 2022) – A judge in New York has just ruled that polyamorous relationships – in this case a 3-person married unit living together in an apartment – are entitled to the same legal protection as opposite-sex or same-sex 2-person marriages. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Since the judge relied upon the famous legal precedent which led to constitutional protection for same-sex marriages, this ruling could expand that right by creating a fundamental right to marriages of 3 or more persons. On the other hand, this expansive reading of the law could even lead to an overruling of the constitutional right of two people of the same sex to marry, says public interest law professor John Banzhaf. In the court's words: "Before gay marriage was legalized in any state, Braschi v Stahl Assocs. Co. (N.Y. 1989) was decided. The New York State Court of Appeals became the first American appellate court to recognize that a non-traditional, two-person, same-sex, committed, family-like relationship is entitled to legal recognition. Braschi is widely regarded as a catalyst for the legal challenges and changes that ensued. By the end of 2014, gay marriage was legal in 35 states through either legislation or state court action. Obergefell v Hodges (2015), the seminal Supreme Court decision that established same-sex marriage as a constitutional right, was also heralded as groundbreaking." The Braschi case from New York's highest court, upon which the trial judge relied, held that whether or not a individuals in a marriage are entitled to some legal protection "should be based upon an objective examination of the relationship of the parties. In making this assessment, the lower courts of this State have looked to a number of factors, including the exclusivity and longevity of the relationship, the level of emotional and financial commitment, the manner in which the parties have conducted their everyday lives and held themselves out to society. And the reliance placed upon one another for daily family services...it is the totality of the relationship as evidenced by the dedication, caring and self-sacrifice of the parties which should, in the final analysis, control." Clearly, some judges can early find that these same characteristics are present in other polyamorous relationships where 3 or more persons live together in a house or apartment, and perhaps even raise children together, suggests the law professor. The Rapidly Expanding Legal Recognition Moreover, it is not the only example of the rapidly expanding legal recognition of plural marriages. As the trial judge wrote: "In February 2020, the Utah legislature passed a so-called Bigamy Bill, decriminalizing the offense by downgrading it from a felony to a misdemeanor. In June [2020], Somerville, Massachusetts, passed an ordinance allowing groups of three or more people who 'consider themselves to be a family' to be recognized as domestic partners…. The neighboring town of Cambridge followed suit, passing a broader ordinance recognizing multi-partner relationships. The law has proceeded even more rapidly in recognizing that it is possible for a child to have more than two legal parents. In 2017, the Uniform Law Commission, an association that enables states to harmonize their laws, drafted a new Uniform Parentage Act, one provision of which facilitates multiple-parent recognition. Versions of the provision have passed in California, Washington, Maine, Vermont, and Delaware, and it is under consideration in several other states. Courts in New Jersey, Pennsylvania, Delaware, Texas, Arizona, and Louisiana have also supported the idea of third parents. American conservatism has long mourned the proliferation of single parents, but, if two parents are better than one, why are three parents worse?" [emphasis added] On the other hand, if the Supreme Court's decision in Obergefell is going to be open the door to judicial recognition of plural marriages - something many experts predicted at the time would never happen - the Supreme Court with its new conservative majority might decide to reconsider and then overrule Obergefell as it so recently overruled Roe v. Wade and its constitutional right to abortions, says Banzhaf. Indeed, in helping to overrule Roe, Justice Clarence Thomas said that same rationale should also be used to overturn cases establishing rights to contraception, same-sex consensual relations and same-sex marriage. He wrote that the court “should reconsider” all 3 decisions. Moreover, he said, the Court has a duty to “correct the error” established by those precedents. . . overruling these demonstrably erroneous decisions, the question would remain whether other constitutional provisions” protected the rights they established. If rights not expressly found in the Constitution can be held to establish entitlements to marry someone of the same sex, as well as 3 or more persons of any sex, could they be further expanded to a right to marry a close relative, especially if offspring with possible genetic defects are unlikely to occur (e.g., father and son), asks the law professor, who has himself created some new legal rights......»»

Category: blogSource: valuewalk12 hr. 6 min. ago Related News

These Are The Top Holdings Of Mark Massey

Mark Massey is the managing member and president of hedge fund firm, Altarock Partners. Massey, who founded Altarock Partners in 2022, holds a bachelor’s degree in Finance from the University of Virginia. The hedge fund has averaged a 12% yearly return since its inception and is presently among the top performing hedge funds on the […] Mark Massey is the managing member and president of hedge fund firm, Altarock Partners. Massey, who founded Altarock Partners in 2022, holds a bachelor’s degree in Finance from the University of Virginia. The hedge fund has averaged a 12% yearly return since its inception and is presently among the top performing hedge funds on the basis of a 3-year annualized weighted return. Massey believes in value investing and focuses on stocks that have the potential to maintain a competitive advantage. Let’s take a look at the top holdings of Mark Massey. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Top Holdings Of Mark Massey We have referred to the latest available 13F filing (June 30, 2022) of Altarock Partners to come up with the top holdings of Mark Massey. As per the filing, Massey had eight stocks in the portfolio at the end of the last quarter, while he sold one stock completely (Meta Platforms). Moody's Founded in 1909 and headquartered in New York City, this company provides credit ratings, research, tools and analysis to the capital market worldwide. Massey owns over 0.12 million shares of Moody's Corporation (NYSE:MCO), having a market value of more than $33 million. These shares account for 1.03% of Massey’s portfolio. Massey first took position in the stock in Q4 2014. Moody's shares are down by almost 36% year to date and down almost 10% in the last three months. Mastercard Founded in 1966 and headquartered in Purchase, N.Y., it is a global payments and technology company. Massey owns over 0.24 million shares of Mastercard Inc (NYSE:MA), having a market value of more than $78 million. These shares account for 2.42% of Massey’s portfolio. Massey first took position in the stock in Q4 2014 and has sold some shares of it in the last quarter. Mastercard shares are down by almost 19% year to date and down over 11% in the last three months. Charter Communications Founded in 1993 and headquartered in Stamford, Conn., this company offers broadband communications services. Massey owns over 0.58 million shares of Charter Communications Inc (NASDAQ:CHTR), having a market value of more than $270 million. These shares account for 8.42% of Massey’s portfolio. Massey first took position in the stock in Q1 2015 and has sold some shares of it in the last quarter. Charter Communications shares are down by over 52% year to date and down over 33% in the last three months. Visa Founded in 1958 and headquartered in San Francisco, this company offers digital payment services. Massey owns over 1.50 million shares of Visa Inc (NYSE:V), having a market value of more than $300 million. These shares account for 9.53% of Massey’s portfolio. Massey first took position in the stock in Q4 2014 and has added more shares of it in the last quarter. Visa shares are down by over 16% year to date and down almost 11% in the last three months. Amazon.com Founded in 1994 and headquartered in Seattle, this company focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Massey owns over 3 million shares of Amazon.com, Inc. (NASDAQ:AMZN), having a market value of more than $320 million. These shares account for 10.04% of Massey’s portfolio. Massey first took position in the stock in Q1 2022 and has added more shares of it in the last quarter. Amazon shares are down by almost 31% year to date but are up by almost 2% in the last three months. Microsoft Founded in 1975 and headquartered in Redmond, Wash., this company develops and sells software, services, devices, and solutions. Massey owns over 2.7 million shares of Microsoft Corporation (NASDAQ:MSFT), having a market value of more than $700 million. These shares account for 21.65% of Massey’s portfolio. Massey first took position in the stock in Q2 2021 and has added more shares of it in the last quarter. Microsoft shares are down by almost 29% year to date and down almost 10% in the last three months. Alphabet (Class A) Founded in 2015 and headquartered in Mountain View, Calif., it is a holding company of Google and many other former Google subsidiaries. Massey owns over 6.70 million shares of Alphabet Inc (NASDAQ:GOOGL), having a market value of more than $730 million. These shares account for 22.74 % of Massey’s portfolio. Massey first took position in the stock in Q4 2019 and has added more shares of it in the last quarter. Alphabet shares are down by almost 32% year to date and down almost 15% in the last three months. TransDigm Group Founded in 2003 and headquartered in Cleveland, Ohio, this company produces engineered aerospace components, systems and subsystems. Massey owns over 1.40 million shares of TransDigm Group Incorporated (NYSE:TDG), having a market value of more than $780 million. These shares account for 24.16% of Massey’s portfolio. Massey first took position in the stock in Q4 2014 and has added more shares of it in the last quarter. TransDigm Group shares are down by over 15% year to date but are up by over 1% in the last three months......»»

Category: blogSource: valuewalk12 hr. 6 min. ago Related News

5 ETFs Hitting 52-Week High Amid Market Turmoil

SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), Invesco DB US Dollar Index Bullish Fund (UUP), iShares Treasury Floating Rate Bond ETF (TFLO), iMGP DBi Managed Futures Strategy ETF (DBMF) and Invesco VRDO Tax-Free ETF (PVI) have been the leaders amid the market turmoil. U.S. stocks have been struggling this year due to Russia’s invasion of Ukraine, aggressive rate hikes by the Fed and global growth concerns. In fact, all the major indices are in deep red with the S&P 500 and the tech-heavy Nasdaq Composite Index in bear market. The Dow Jones Industrial Average managed to survive the downtrend.While most of the corners are being beaten badly, a few are thriving and scaling new 52-week highs. ETFs like SPDR Bloomberg 1-3 Month T-Bill ETF BIL, Invesco DB US Dollar Index Bullish Fund UUP, iShares Treasury Floating Rate Bond ETF TFLO, iMGP DBi Managed Futures Strategy ETF DBMF and Invesco VRDO Tax-Free ETF PVI have been the leaders amid the market turmoil.Market TrendsThe stock market slump accelerated last week when the Fed Chair Jerome Powell raised interest rates by another 75 bps. This marks the third consecutive rate hike of 0.75% and pushed the benchmark interest rate to 3.0-3.25%, the highest level since 2008. The central bank also signaled that additional large rate hikes were likely at upcoming meetings as it combats inflation that remains near a 40-year high (read: ETFs That Won After Fed Rate Hike).Fed officials now expect the federal funds rate at a range of 4.25% to 4.5%, a full percentage point above the 3.25% to 3.5% projected in June to end 2022. This means that the central bank could approve another three-quarter point hike at its November meeting and then a half-point rate rise in December. Economists warned that the rapid tightening would hurt the labor and the housing, thereby pushing the economy into recession and impact the stock market.Meanwhile, the yield on 10-year Treasury notes jumped to a high of 3.64% last week, its highest level since February 2011, while the 2-year yield topped 4.1%, its highest level since 2007. As yields rise, returns of investors having big holdings in the fixed-income world are hurt. As such, bond investors might experience heavy losses given that bond prices and yields have an inverse relationship.SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) – 52-Week High: $91.56Ultra-short bond ETFs invest in securities with durations of less than one year, thus making them less vulnerable to rising rates. As the duration or interest rate sensitivity is lower, these act as a cushion to rising rates. SPDR Bloomberg 1-3 Month T-Bill ETF seeks to provide exposure to zero-coupon U.S. Treasury securities with a remaining maturity of 1-3 months. It follows the Bloomberg 1-3 Month U.S. Treasury Bill Index, holding 15 securities in its basket. Both average maturity and adjusted duration come in at 0.09 years each (read: Ultra-Short Bond ETFs to Hedge Against Rising Rates).SPDR Bloomberg 1-3 Month T-Bill ETF has AUM of $21.4 billion and an average daily volume of 5.2 million shares. It charges 14 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.Invesco DB US Dollar Index Bullish Fund (UUP) – 52-Week High: $30.37Rising interest rates will pull in more capital into the country and lead to an appreciation of the U.S. dollar. Invesco DB US Dollar Index Bullish Fund is the prime beneficiary of a rising dollar as it offers exposure against a basket of six world currencies — euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. This is done by tracking the Deutsche Bank Long US Dollar Index Futures Index Excess Return plus the interest income from the fund’s holdings of U.S. Treasury securities.Invesco DB US Dollar Index Bullish Fund has so far managed an asset base of $2 billion while seeing an average daily volume of around 4 million shares. It charges 77 bps in total fees and expenses and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.iShares Treasury Floating Rate Bond ETF (TFLO) – 52-Week High: $50.49Floating rate bonds are investment grade and do not pay a fixed rate to investors. However, these have variable coupon rates that are often tied to an underlying index (such as LIBOR) plus a variable spread depending on the credit risk of the issuers. Unlike fixed-coupon bonds, these do not lose value when the rates go up, making the bonds ideal for protecting investors against capital erosion in a rising rate environment. iShares Treasury Floating Rate Bond ETF follows the Bloomberg US Floating Rate Note < 5 Years Index and holds 8 securities in its basket. It has an average maturity of 0.58 years and an effective duration of 0.01 years.iShares Treasury Floating Rate Bond ETF has amassed $3 billion in its asset base while trading in volume of 853,000 shares per day on average. It charges 15 bps in annual fees.iMGP DBi Managed Futures Strategy ETF (DBMF) – 52-Week High: $33.95Hedge volatility ETFs like DBMF could prove beneficial amid market uncertainty. Investors should note that these funds have the potential to stand out and outperform simple vanilla funds in case of rising volatility. iMGP DBi Managed Futures Strategy ETF seeks long-term capital appreciation. It will employ long and short positions in derivatives, primarily futures contracts and forward contracts, across the broad asset classes of equities, fixed income, currencies and commodities.iMGP DBi Managed Futures Strategy ETF has AUM of $788 million and charges 85 bps in annual fees. It trades in a moderate volume of 472,000 shares a day on average (read: Hedge Volatility With These ETFs).Invesco VRDO Tax-Free ETF (PVI) – 52-Week High: $25.02Again, this ETF is a beneficiary of rising rates. Invesco VRDO Tax-Free ETF follows the ICE US Municipal AMT-Free VRDO Constrained Index, which tracks the performance of U.S. dollar tax-exempt VRDOs that are publicly issued by U.S. states and territories, and their political subdivisions, and that have interest rates that reset daily, weekly or monthly.Invesco VRDO Tax-Free ETF has AUM of $66 million and charges 25 bps in annual fees. It trades in an average daily volume of 8,000 shares. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco DB US Dollar Index Bullish ETF (UUP): ETF Research Reports Invesco VRDO TaxFree ETF (PVI): ETF Research Reports SPDR Bloomberg 13 Month TBill ETF (BIL): ETF Research Reports iShares Treasury Floating Rate Bond ETF (TFLO): ETF Research Reports iMGP DBi Managed Futures Strategy ETF (DBMF): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks13 hr. 6 min. ago Related News

Dow Jones ETF Avoids Bear Market: 4 Stocks in Green

Both the S&P 500 and the tech-heavy Nasdaq Index are in bear market while the Dow Jones in the only of the three main indexes not to have bear market status. Wall Street has been facing tough times this year with all the major indices in deep red. The decline was trigerred by worries about Russia's invasion of Ukraine, an energy crisis in Europe and the end of easy money policy globally. Both the S&P 500 and the tech-heavy Nasdaq Index are in bear market, losing 23% and 31%, respectively, while the Dow Jones in the only of the three main indexes not to have bear market status.The blue-chip index is down 18.6% year to date. SPDR Dow Jones Industrial Average ETF DIA, the proxy version of the Dow Jones Index, has plunged about 17.4%. While most of the stocks in DIA’s portfolio are in red, four stocks have been standing tall so far this year. These include Chevron CVX, Merck & Co. MRK, UnitedHealth Group Inc. UNH and Amgen AMGN.The renewed selling pressure came last week after Fed Chair Jerome Powell raised interest rates by another 75 bps. This marks the third consecutive rate hike of 0.75% and pushed the benchmark interest rate to 3.0-3.25%, the highest level since 2008. The central bank also signaled that additional large rate hikes were likely at upcoming meetings as it combats inflation that remains near a 40-year high (read: ETFs That Won After Fed Rate Hike).Fed officials now expect the federal funds rate at a range of 4.25% to 4.5%, a full percentage point above the 3.25% to 3.5% projected in June to end 2022. This means that the central bank could approve another three-quarter point hike at its November meeting and then a half-point rate rise in December. Economists warned that the rapid tightening would hurt the labor and housing markets, thereby pushing the economy into recession and impacting the stock market.Let’s take a closer look at the fundamentals of DIA.DIA in FocusSPDR Dow Jones Industrial Average ETF is one of the largest and most popular ETFs in the large-cap space with AUM of $26.3 billion and an average daily volume of 3 million shares. Holding 30 blue chip stocks, the fund is widely spread across components with each holding less than 11.4% share. Healthcare (21.9%), information technology (20.2%), financials (15.6%), consumer discretionary (13.5%) and industrials (13.1%) are the top five sectors. DIA charges 16 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (see: all the Large Cap Blend ETFs here).Below we have highlighted the above-mentioned four stocks in the ETF.Best Stocks of SPYChevron is one of the largest publicly traded oil and gas companies in the world, with operations that span almost every corner of the globe. The stock has soared 23.4% so far this year and accounts for a 3.4% share in the ETF.Chevron has an estimated earnings growth rate of 125.9% for this year. It has a Zacks Rank #2 and VGM Score of A. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Merck operates as a healthcare company worldwide. It makes up for a 1.9% share in the fund’s basket and gained 13.2% so far this year.Merck has an estimated earnings growth rate of 21.8% for this year. The stock carries a Zacks Rank #3 and has a VGM Score of A.UnitedHealth provides a wide range of health care products and services, such as health maintenance organizations, point of service plans, preferred provider organizations, and managed fee-for-service programs. The stock is up 2.3% this year and accounts for 11.4% in the fund’s basket.UnitedHealth has an estimated earnings growth rate of 14.9% for this year and a Zacks Rank #3. It carries a solid VGM Score of B (read: 5 Defensive ETFs to Play as Recession Fears Grow).Amgen is one of the biggest biotech companies in the world, with a strong presence in the oncology/hematology, cardiovascular disease, neuroscience, inflammation, bone health and nephrology and neuroscience markets. The stock has gained about 1% and accounts for 5% in the fund’s basket.Amgen is expected to see earnings growth of 2% for this year and has a Zacks Rank #3. It has a solid VGM Score of B. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis Report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Amgen Inc. (AMGN): Free Stock Analysis Report SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks14 hr. 38 min. ago Related News

Intercept (ICPT) Stock Gains 13% in 3 Months: Here"s Why

Intercept (ICPT) gains 13% in the past three months on positive regulatory and pipeline updates. Shares of Intercept Pharmaceuticals, Inc. ICPT have jumped 13% in the last three months against the industry’s decline of 9.7% on a string of positive updates in the time frame.In July 2022, Intercept announced positive top-line data from a new interim analysis of its ongoing pivotal phase III REGENERATE study, evaluating the efficacy of obeticholic acid (OCA) in patients with liver fibrosis due to nonalcoholic steatohepatitis (NASH).Image Source: Zacks Investment ResearchOCA 25 mg met the agreed primary endpoint of improvement in liver fibrosis without worsening of NASH at 18 months (Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intercept Pharmaceuticals, Inc. (ICPT): Free Stock Analysis Report Viking Therapeutics, Inc. (VKTX): Free Stock Analysis Report Bolt Biotherapeutics, Inc. (BOLT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks14 hr. 38 min. ago Related News

Are Investors Undervaluing DCP Midstream Partners (DCP) Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.DCP Midstream Partners (DCP) is a stock many investors are watching right now. DCP is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 8.60. This compares to its industry's average Forward P/E of 13.64. DCP's Forward P/E has been as high as 30.57 and as low as 6.94, with a median of 8.81, all within the past year.Another valuation metric that we should highlight is DCP's P/B ratio of 1.45. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. DCP's current P/B looks attractive when compared to its industry's average P/B of 1.65. Over the past year, DCP's P/B has been as high as 1.61 and as low as 1.02, with a median of 1.31.Finally, we should also recognize that DCP has a P/CF ratio of 6.59. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 8.90. Over the past year, DCP's P/CF has been as high as 13.31 and as low as 4.93, with a median of 8.97.If you're looking for another solid Oil and Gas - Production and Pipelines value stock, take a look at Ultrapar Participacoes (UGP). UGP is a # 2 (Buy) stock with a Value score of A.Ultrapar Participacoes is currently trading with a Forward P/E ratio of 11 while its PEG ratio sits at 0.48. Both of the company's metrics compare favorably to its industry's average P/E of 13.64 and average PEG ratio of 1.84.UGP's Forward P/E has been as high as 18.06 and as low as 8.54, with a median of 11.30. During the same time period, its PEG ratio has been as high as 0.81, as low as 0.36, with a median of 0.49.Furthermore, Ultrapar Participacoes holds a P/B ratio of 1.55 and its industry's price-to-book ratio is 1.65. UGP's P/B has been as high as 2.16, as low as 1.27, with a median of 1.71 over the past 12 months.These figures are just a handful of the metrics value investors tend to look at, but they help show that DCP Midstream Partners and Ultrapar Participacoes are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, DCP and UGP feels like a great value stock at the moment. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DCP Midstream Partners, LP (DCP): Free Stock Analysis Report Ultrapar Participacoes S.A. (UGP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

Are Investors Undervaluing Randstad Holding (RANJY) Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.One company to watch right now is Randstad Holding (RANJY). RANJY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.Investors should also recognize that RANJY has a P/B ratio of 1.83. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. RANJY's current P/B looks attractive when compared to its industry's average P/B of 2.33. RANJY's P/B has been as high as 2.49 and as low as 1.75, with a median of 2.14, over the past year.Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. RANJY has a P/S ratio of 0.28. This compares to its industry's average P/S of 0.44.Finally, we should also recognize that RANJY has a P/CF ratio of 6.27. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. RANJY's current P/CF looks attractive when compared to its industry's average P/CF of 7.30. RANJY's P/CF has been as high as 13.78 and as low as 6.10, with a median of 8.38, all within the past year.Investors could also keep in mind RCM Technologies (RCMT), an Staffing Firms stock with a Zacks Rank of # 2 (Buy) and Value grade of A.RCM Technologies also has a P/B ratio of 4.36 compared to its industry's price-to-book ratio of 2.33. Over the past year, its P/B ratio has been as high as 9.40, as low as 2.37, with a median of 3.59.These are only a few of the key metrics included in Randstad Holding and RCM Technologies strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, RANJY and RCMT look like an impressive value stock at the moment. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Randstad Holding NV (RANJY): Free Stock Analysis Report RCM Technologies, Inc. (RCMT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

Is Cementos Pacasmayo (CPAC) Stock Undervalued Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One company value investors might notice is Cementos Pacasmayo (CPAC). CPAC is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.38, while its industry has an average P/E of 14.75. CPAC's Forward P/E has been as high as 19.17 and as low as 7.07, with a median of 9, all within the past year.Investors should also recognize that CPAC has a P/B ratio of 1.18. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 3.50. Over the past year, CPAC's P/B has been as high as 2.02 and as low as 1.09, with a median of 1.67.These are just a handful of the figures considered in Cementos Pacasmayo's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that CPAC is an impressive value stock right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cementos Pacasmayo S.A.A. (CPAC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

Is Greif (GEF) Stock Undervalued Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One company value investors might notice is Greif (GEF). GEF is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.63, while its industry has an average P/E of 10.69. GEF's Forward P/E has been as high as 12.92 and as low as 8.15, with a median of 9.65, all within the past year.Investors should also note that GEF holds a PEG ratio of 0.86. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. GEF's industry currently sports an average PEG of 1.21. Over the past 52 weeks, GEF's PEG has been as high as 1.29 and as low as 0.81, with a median of 0.97.Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. GEF has a P/S ratio of 0.45. This compares to its industry's average P/S of 0.85.Another great Containers - Paper and Packaging stock you could consider is Graphic Packaging Holding Company (GPK), which is a # 2 (Buy) stock with a Value Score of A.Shares of Graphic Packaging Holding Company currently holds a Forward P/E ratio of 8.78, and its PEG ratio is 0.35. In comparison, its industry sports average P/E and PEG ratios of 10.69 and 1.21.Over the last 12 months, GPK's P/E has been as high as 17.63, as low as 8.59, with a median of 9.99, and its PEG ratio has been as high as 0.71, as low as 0.34, with a median of 0.40.Graphic Packaging Holding Company sports a P/B ratio of 3.38 as well; this compares to its industry's price-to-book ratio of 7.87. In the past 52 weeks, GPK's P/B has been as high as 3.85, as low as 2.95, with a median of 3.31.These are only a few of the key metrics included in Greif and Graphic Packaging Holding Company strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, GEF and GPK look like an impressive value stock at the moment. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Greif, Inc. (GEF): Free Stock Analysis Report Graphic Packaging Holding Company (GPK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

Is PDC Energy (PDCE) Stock Undervalued Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One stock to keep an eye on is PDC Energy (PDCE). PDCE is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 3.46. This compares to its industry's average Forward P/E of 4.78. PDCE's Forward P/E has been as high as 7.48 and as low as 2.78, with a median of 4.96, all within the past year.We should also highlight that PDCE has a P/B ratio of 1.66. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.93. PDCE's P/B has been as high as 2.97 and as low as 1.49, with a median of 1.96, over the past year.Finally, investors will want to recognize that PDCE has a P/CF ratio of 3.04. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 6.94. PDCE's P/CF has been as high as 10.08 and as low as 2.73, with a median of 5.71, all within the past year.Investors could also keep in mind Stone Energy (TALO), an Oil and Gas - Exploration and Production - United States stock with a Zacks Rank of # 1 (Strong Buy) and Value grade of A.Furthermore, Stone Energy holds a P/B ratio of 1.62 and its industry's price-to-book ratio is 2.93. TALO's P/B has been as high as 2.99, as low as 1.05, with a median of 1.63 over the past 12 months.These figures are just a handful of the metrics value investors tend to look at, but they help show that PDC Energy and Stone Energy are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, PDCE and TALO feels like a great value stock at the moment. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PDC Energy, Inc. (PDCE): Free Stock Analysis Report Talos Energy Inc. (TALO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

Are Investors Undervaluing Credit Agricole (CRARY) Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One stock to keep an eye on is Credit Agricole (CRARY). CRARY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 6.35. This compares to its industry's average Forward P/E of 7.05. CRARY's Forward P/E has been as high as 10.38 and as low as 5.80, with a median of 7.85, all within the past year.Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CRARY has a P/S ratio of 0.98. This compares to its industry's average P/S of 1.15.These figures are just a handful of the metrics value investors tend to look at, but they help show that Credit Agricole is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CRARY feels like a great value stock at the moment. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Credit Agricole SA (CRARY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks15 hr. 22 min. ago Related News

"Global Gloom": World Markets Plunge To Start The Week As Global Currency Crash Hits Max Pain And Beyond

"Global Gloom": World Markets Plunge To Start The Week As Global Currency Crash Hits Max Pain And Beyond The rout which hammered stocks on Friday, nearly pushing them to close at a new 2022 low, resumed overnight when the global FX crisis returned with a bang, and a flash crash in the British pound which as noted late last night, plummeted 500pips in thin trading, to fresh record lows following Friday's shocking mini-budget announcement which confirmed the UK has no idea what it is doing and will cut rates and issue more debt just as the BOE is desperately trying to tighten financial conditions. The plunge in cable was however just one symptom of a bigger malaise, namely the relentless surge in the dollar which overnight hit fresh record highs as the BBDXY rose as high as 1,355 before briefly fading the surge... ... as every dollar-denominated debt issuer in the world is suffering crippling pain and begging Powell to do something to ease the unprecedented shock of the strongest dollar in history just as the world slumps into a global depression. Alas, so far there is nothing but silence from the Fed - which will likely have to make some announcement on central bank currency swaps at some point before the open today to avoid an even more epic FX rout - and as traders await something to break big time across global markets... This is the week of the barbell trade: deep OTM calls and puts as things either break or CBs panic. — zerohedge (@zerohedge) September 26, 2022 ... this morning futures have tumbled another 0.7%, as eminis drop to 3,683 while Nasdaq futures are down 0.8% to 11,290 on fears that Federal Reserve rate hikes to combat persistently elevated inflation will crush the economy into a full-blown recession, or depression, and the VIX soared above 32. It wasn't just FX and stocks crashing: British bonds also cratered as yields surged to the highest in more than a decade, sparking talk of emergency action by the Bank of England. For one example of the total chaos look no further than 5Y UK Gilts which have exploded 51bps higher and last traded around 4.58% as the market now prices in Similar implosions were observed in US TSYs, where the 10Y traded just shy of Friday's mini blowout, and was last seen at 3.7828% as bond traders are hit by VaR shocks at the same time in every possible market. Turning back to stocks, the rout wasn't isolated to just one market and an index of global stocks traded to the lowest since 2020. European equities extended declines after sliding into a bear market on Friday, with mining and energy stocks underperforming as metals and oil fell. “We’re in a period of global gloom, with pessimism blanketing different countries for different reasons,” said Ed Yardeni, president of his eponymous research firm, who warned of growing storm clouds for the US economy. “The latest data jibe with our growth recession scenario, but the risks of a full-blown recession are obviously increasing,” he wrote in a note Monday. In premarket trading, major US tech and internet stocks including Apple, Amazon and Microsoft tumbled. Here are some other notable premarket movers: Farfetch (FTCH US) shares fall as much as 4.43% in US premarket trading, after Citi begins coverage of the luxury online retailer with a sell rating, with broker flagging “weak” underlying profitability. Shares of US-listed Macau casinos jump in premarket trading, after Macau government said tour groups from mainland China could resume as early as November. Wynn Resorts (WYNN US) jumps 5.4%; Las Vegas Sands (LVS US) +6.9%, Melco (MLCO US) +9.6% and MGM resorts (MGM US) +1.6% Cryptocurrency-exposed stocks edged higher in premarket trading on Monday as Bitcoin rose above $19,000. Marathon Digital (MARA US) +1.9%, Coinbase (COIN US) +0.4% Keep an eye on Diana Shipping (DSX US) and Safe Bulkers (SB US) as Jefferies downgraded them to hold from buy and lowered dry bulk estimates to reflect the decline in dry bulk charter rates. European shares extended their fall to Dec. 2020 lows; sliding 1% and extending losses as investors priced a major economic shock and recession. The Stoxx 600 Index was down 1% by 10:50am in London, touching its lowest since December 2020, with real estate and banks among the worst performing sectors, while technology shares outperformed. Italy’s FTSE MIB bucked broader European declines to trade little changed, after Giorgia Meloni won a clear majority in Sunday’s election, in line with expectations. Banks and real estate stocks were the worst-performing sectors in Europe on Monday, with declines led by UK stocks as the pound and UK bonds slump. The Stoxx 600 Banks Index and the Stoxx 600 Real Estate are both down at least 2.5% while the benchmark gauge is 1.1% lower. The bank index decline is led by UK names including Virgin Money (-10%), Lloyds (-4.6%) and NatWest (-4.5%). Virgin Money was today resumed with a hold rating at Berenberg; broker said that the lender is expected to see revenue declines and a sector- lagging return on tangible equity which will affect ability to re-rate. Among real estate stocks, the UK’s Safestore Holdings (-4.2%), Assura (-3.9%) and Derwent London (-3.8%) are among the worst performers; non-index member housebuilders, including Persimmon, Bellway and Taylor Wimpey, are also plunging as the pound’s slump prompts talk of emergency action by the Bank of England. Here are the most notable movers today: The Stoxx 600 Tech Index rises as much as 2.4%, set for its biggest one-day outperformance against the broader Stoxx 600 since early-August, with semiconductor stocks leading gains. Among chip stocks, ASML rose as much as +3.7% after Santander upgraded the stock to neutral from underperform Italy’s FTSE MIB index gains, bucking weaker markets in Europe, after Giorgia Meloni won a clear majority in Sunday’s election. While the outcome was in line with expectations, the fact that the coalition didn’t obtain a super majority needed to change the constitution reassures investors. Telecom Italia rose as much +7.4%, FinecoBank +5.1%, Moncler +4.4% Unilever shares rise as much as 3.7% after it announced that CEO Alan Jope will retire from the company at the end of 2023, in a move that Jefferies analyst Martin Deboo (buy) sees as a positive development. RPS Group shares rise as much as 13% after Tetra Tech’s agreed deal to buy the company at 222p/share in cash, representing a 7.8% premium to an offer WSP made in August. Liberum does not rule out a counterbid. Belimo shares rise as much as 8.5% since the market isn’t fully pricing in its growth outlook, Berenberg says in a note, moving to buy and establishing a Street-high CHF440 target. The stock gains as much as 8.1%, the most since March 2021. Zalando shares rise as much as 4.8% after Citi analyst says they like the long-term investment story, short-term earnings risks are still high. UK Domestics: the most remarkable reaction to Friday’s not-so-mini budget, however, might be in lenders’ shares. The decline in banking stocks reflects investors’ pessimistic view on Britain’s economy. HSBC fell as much as 2.9%; Lloyds -4.3%, NatWest -4.7% and Barclays -3.0%. Virgin Money UK shares drop as much as 10% after Berenberg resumed a hold rating in note, stating that in many ways the UK small banks are “more different than they are alike.” Utilities are the day’s worst-performing European sector. Citi analyst Piotr Dzieciolowski says the EU’s funding for its policy response has so far been insufficient and also expects uncertainty to persist for UK names. United Utilities fell as much as -3.4%, Drax -3.8% Geopolitical risks from the war in Ukraine to escalating tensions over Taiwan and unrest in Iran also weighed on sentiment. Meanwhile, the OECD cut almost all growth forecasts for the Group of 20 next year while anticipating further interest-rate hikes, and a gauge of German business confidence deteriorated. Earlier in the session, a rout in Asian stocks extended into Monday as rising concerns about a global recession and weak demand hit the region’s exporters and materials producers. The MSCI Asia Pacific Index declined as much as 2.3% to the lowest since April 2020, dragged lower by TSMC, BHP and Toyota Motor. All but one sector traded lower with materials leading the slump.  South Korean stocks fell the most in the region, with the benchmark tumbling 3% to more than a two-year low. The Korean market’s heavy tech exposure has proven costly amid rising rates and a stronger dollar, with fears that a looming recession may wreak havoc on global demand. Gauges in Hong Kong and China reversed earlier gains as the region’s selloff intensified.   Korea Assets Are Asia’s Biggest Losers on Global Recession Angst “Investor sentiment is again at the stage of extreme fear,” said Lee Kyoung-Min, an analyst at Daishin Investment. “It is becoming solid and clear that Kospi and other global stock markets are on a mid-to-long term downward trend.” Asian stock benchmarks are being buffeted by global headwinds as well as risks of their own. The Federal Reserve’s relentless rate hike campaign is pushing Asian currencies lower and raising the risk of capital outflows, while China’s adherence to Covid Zero is hurting growth in the region’s economic giant.  If Monday’s losses are extended through the week, the MSCI Asia Pacific Index will see its longest run of declines since 2015. Japan stocks declined more than 2% as the nation resumed trading after a holiday on Friday. The Philippine stock market was closed Monday as Super Typhoon Noru barreled into the main Luzon island.  Among the key issues investors are watching this week are speeches by central bank officials in US and Europe, including Fed Chair Jerome Powell on Tuesday. Japanese equities tumbled as the market reopened following a three-day weekend, tracking US peers lower after the Fed’s hawkish comments last week deepened fears of a global downturn. The Topix fell 2.7% to close at 1,864.28, while the Nikkei declined 2.7% to 26,431.55. Toyota Motor contributed the most to the Topix decline, decreasing 3.2% after its monthly production update lagged expectations. Out of 2,169 stocks in the index, 145 rose and 1,985 fell, while 39 were unchanged. “There is a possibility that inflation will not subside and interest rates will rise further, which the markets will not like,” said Shoji Hirakawa, a chief global strategist at Tokai Tokyo Research. In Australia, the S&P/ASX 200 index fell 1.6% to close at 6,469.40, as energy and mining shares plummeted. An energy gauge including oil and coal linked securities declined by the most since March 2020.  The New Zealand market was closed for a holiday In India, key stocks gauges plunged to their lowest closing levels in almost two months as the global equity rout continues. The S&P BSE Sensex dropped 1.6% to 57,145.22 in Mumbai to its lowest since July 28. The NSE Nifty 50 Index fell 1.8%, its biggest single-day plunge since Sept. 16. Both the indexes, down in four of the past five weeks, have lost almost 6% since this month’s peak. Volatility in domestic equities is likely to remain elevated this week, pending monthly derivatives expiry on Thursday. Of 30 shares in the Sensex index, 24 fell and 6 advanced. All but one of the 19 sector sub-indexes compiled by BSE Ltd. declined, led by utilities and power companies.  The Indian rupee weakened to a new record against the dollar amid surging US Treasury yields. The Reserve Bank of India’s rate-setting panel will announce monetary policy later this week. As noted above, while stocks are ugly, rates are a horrorshow as Treasuries extended their worst bond slide in decades as a dollar gauge rose to yet another record. Treasuries extended losses in a bear flattening move with yields cheaper by up to 10bp across the belly of the curve. US 10-year yields around 3.78%, cheaper by 6bp on the day with 5s30s spread flatter by 5bp, dropping as low as -45.4bp in European session; UK yields cheaper by 60bp to 25bp from front- end out to long-end of the curve. The Move comes as market participants brace for accelerated policy tightening from global central banks and headlines such as this: *TRADERS PRICE IN UP TO 200BPS OF BOE RATE HIKES BY NOVEMBER Yields on 2-year gilts are 60bp cheaper heading into early US session, while the pound recovers slightly after reaching a fresh all-time low. US session focus on 2-year auction, while a barrage of Fed speakers are expected for the week. Peripheral spreads widen to Germany with 10y BTP/Bund widening 7bps to 238bps. FX, of course, is a disaster, with the Bloomberg Dollar Spot Index rising a fifth consecutive day as the greenback advanced versus most of its Group-of-10 peers. The pound plunged almost 5% to $1.0350 in Asian trading, the lowest recorded in Bloomberg data going back to 1971, while gilts crashed after the UK government vowed to press ahead with more tax cuts, stoking fears that new fiscal policies will send inflation and debt soaring, triggering emergency rate hikes. The options market signals no respite even as the pound rebounded from a record low hit during the Asia session. The yield on two- year bonds surged more than 55 basis points to 4.51%, while the 10-year yield rose 37 basis points to 4.19%. Money markets price in more than 150 basis points of rate increases by the BoE’s next policy meeting in November The euro steadied after earlier dropping to $0.9554; European bond yields rose; Italian bonds underperformed German peers. Giorgia Meloni won a clear majority in Sunday’s Italian election, setting herself up to become the country’s first female prime minister at the head of the most right-wing government since World War II. Germany’s IFO business expectations slid to 75.2 in September from 80.3 in August. That’s the lowest since April 2020. Analysts had predicted a drop to 79. An index of current conditions also fell. The Australian and New Zealand dollars pared some losses after earlier touching fresh 2-year lows. Aussie bond yields rose by up to 13bps, led by the front end The yen weakened amid a broadly stronger dollar. Bank of Japan Governor Haruhiko Kuroda said the government’s intervention in the foreign exchange market last week was appropriate given the recent volatility in the yen The currency’s rally is “untenable” for risk assets, according to a note by Morgan Stanley strategists led by Michael Wilson, while Sian Fenner, senior Asia economist for Oxford Economics, said that “It’s a king US dollar...“It’s adding to inflationary pressures and more central banks raising rates more than we have historically seen.” In commodities, WTI slides almost 1% to trade near $78/bbl. Spot gold mostly unchanged near $1,643/oz. Bitcoin climbs above $19,000. Trading this week will be punctuated by a number of economic reports including US initial jobless claims and gross-domestic-product data, along with PMI figures from China. Choppiness in price moves is likely with a steady stream of Federal Reserve officials speaking through the week. Looking at today's calendar, we get the September Dallas Fed manufacturing activity index, and the August Chicago Fed national activity index. Central bank speakers include the Fed's Bostic, Collins, Logan and Mester; ECB's Lagarde also speaks as does Nagel, Guindos, Centeno and Panetta speak, BoE's Tenreyro speaks. Market Snapshot S&P 500 futures little changed at 3,706.25 MXAP down 2.0% to 142.24 MXAPJ down 1.4% to 463.08 Nikkei down 2.7% to 26,431.55 Topix down 2.7% to 1,864.28 Hang Seng Index down 0.4% to 17,855.14 Shanghai Composite down 1.2% to 3,051.23 Sensex down 1.2% to 57,378.30 Australia S&P/ASX 200 down 1.6% to 6,469.41 Kospi down 3.0% to 2,220.94 STOXX Europe 600 down 0.2% to 389.70 German 10Y yield little changed at 2.08% Euro little changed at $0.9683 Brent Futures down 0.7% to $85.59/bbl Brent Futures down 0.7% to $85.59/bbl Gold spot up 0.1% to $1,645.98 U.S. Dollar Index little changed at 113.22 Top Overnight News from Bloomberg Chancellor of the Exchequer Kwasi Kwarteng must do more to reassure the markets about his plans for the economy after a selloff sent the pound crashing to an all-time low against the dollar, said Gerard Lyons, an external adviser to Prime Minister Liz Truss The UK’s foreign currency holdings are a fraction of the huge stockpiles built up by some of its peers, making unilateral intervention in the market to prop up the plunging pound a tall order for UK policymakers. The UK had $108 billion in foreign currency reserves at the end of August, according to data from the IMF Hedge funds ramped up bullish bets on the pound just days before the UK government’s unexpectedly large tax cuts sent the currency tumbling The ECB’s newest policy maker, Boris Vujcic, says “it’s clear that this is the right way to go,” backing this month’s 75-basis point interest-rate hike ECB Vice President Luis de Guindos said the biggest problem facing the continent’s economy is record inflation, which is becoming more broad-based, threatening investment and consumer spending ECB Governing Council member Yannis Stournaras says the central bank must maintain the main principles of gradualism and flexibility, since the problem it faces is different from the one that the US Fed faces China made it more expensive to bet against the yuan in the derivatives market, ramping up support for the currency as it slides toward the weakest level since the 2008 financial crisis A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks traded mostly negative in a resumption of last week's global stock rout amid the continued surge in the dollar and higher yields, while there was also FX volatility which saw a flash crash in GBP/USD to a record low. ASX 200 was dragged lower amid losses in the commodity-related sectors and with sentiment dampened by the collapse of potential M&A deals involving Ramsay Health-KKR and Link Administration-Dye & Durham. Nikkei 225 underperformed with Mazda Motors among the worst hit as it considers exiting Russian operations. Hang Seng and Shanghai Comp retraced most of their initial losses with Hong Kong underpinned following the scrapping of hotel quarantine policy and with casinos boosted as Macau is to resume tour groups from China, while the property industry benefits after China Construction Bank formed a CNY 30bln housing rental fund and some Twitter sources also circulated that some China state banks were reportedly ordered to buy stocks to contain selling. Top Asian News PBoC injected CNY 42bln via 7-day reverse repos with the rate kept at 2.00% and CNY 93bln via 14-day reverse repos with the rate kept at 2.15% for a net CNY 133bln injection. There were rumours circulating on social media of a coup against Chinese President Xi, although experts and journalists in Beijing dismissed the rumours and said there was no evidence to support them, according to The Print. Philippines Stock Exchange announced a trading suspension for Monday amid a typhoon in the capital, according to Reuters. European bourses are softer after a mixed cash open and despite a brief foray higher, Euro Stoxx 50 -0.5%, as sentiment remains subdued amid recession/inflation concerns. The breakdown features modest outperformance in the FTSE MIB as Italian election results are in-line with expectations. Stateside, futures are lower across the board in-fitting with peers going into a week of Fed speak and inflation data. Top European News UK PM Truss said she is determined to make the special relationship with the US even more special and said she agreed with US President Biden that it is vital to protect the Northern Ireland Good Friday Agreement, while she wants to find a way forward with a negotiated solution with the EU, according to Reuters and a CNN interview. UK PM Truss is to review visa schemes in an attempt to ease UK labour shortages, according to FT. UK Chancellor Kwarteng hinted that more tax cuts are on the way and claimed his tax cuts “favour people right across the income scale” amid accusations they mainly help the rich, according to Evening Standard. UK Chancellor Kwarteng said he is focused on growing the economy and the longer term when asked about the market reaction to his statement on Friday. Kwarteng added that he shares ideas with BoE Governor Bailey but added that Bailey is completely independent and Kwarteng is confident the BoE is dealing with inflation, according to Reuters. UK opposition Labour Party leader Starmer said they would reintroduce the top rate of income tax at 45% which the government announced to scrap last week, while he added that they will support the government plan to lower the basic rate of income tax to 19%, according to Reuters. Italy's right-wing bloc is seen winning the national election with 43.3% and centre-left bloc is seen winning 25.4%, according to the first projection by LA7 TV based on the actual vote count.. Click here for newsquawk snap analysis. Italy's Meloni said Italians gave clear backing to a centre-right government led by the Brothers of Italy and said the situation is difficult and needs contribution from everyone. It was separately reported that Italy's Democratic Party conceded in the election and said it will be the main opposition force, while Italy's Meloni claimed leadership of the next Italian government, according to Reuters and AFP. FX DXY climbed to a fresh YTD high of 114.58 before paring modestly, but remaining firmer, as GBP in particular lifts off worst levels. Cable succumbed to a flash crash overnight, with GBP/USD hitting an all-time-low around 1.0350 as participants confidence in the economy slips. EUR suffers amid the mentioned USD move but derives relative benefit from GBP, while ECB speakers thus far have added little. Antipodeans and CAD weighed on by broader risk and commodity pressure. Japanese Finance Minister Suzuki said the government and BoJ share views on concerns about a weak JPY, while he added that FX intervention had a certain effect and there is no change to the stance that they will respond to market moves as needed, according to Reuters. PBoC set USD/CNY mid-point at 7.0298 vs exp. 7.0019 (prev. 6.9920) PBoC imposed a 20% risk reserve requirement for FX forward sales from September 28th to rein in yuan weakness. Fixed Income Gilts have retained some composure after slumping over 200ticks at the commencement of trade and have settled around halfway between intraday extremes. EGBs downbeat in sympathy while BTPs marginally lag core-EGB peers as Italian as-expected election results are digested with BTP-Bund only modestly wider as such. Stateside, USTs are pressured in-fitting with peers and also conscious of the week's supply docket getting underway via a 43bln 2yr. Central Banks Fed’s Bostic (2024 voter) said inflation is too high and that they need to do all they can to bring it down and said demand is beginning to shrink which will ultimately pay dividends in inflation levels. Bostic also stated that there are scenarios where they can avoid deep pain but there will likely be some job losses, according to Reuters. BoJ's Kuroda says the BoJ will maintain accommodative monetary conditions to support companies, hopes to support a positive economic cycle, long-term inflation expectations have begun to heighten, via Reuters. Intervention from the MoF is an "appropriate" move, does not think gov't intervention and BoJ policy are contradictory. Amamiya says the domestic economy is picking up, must carefully watch how FX moves affect the economy and prices. BoJ Governor Kuroda says when he stated that BoJ forward guidance will not change for 2-3yrs, did not refer to guidance on keeping short and long-term rates at present of lower levels via Reuters. ECB's de Guindos says Q3 and Q4 point towards growth rates being close to zero within the EZ, the scenario is market by high uncertainty, lower growth and higher inflation. ECB's Panetta says ECB is assessing the potential of distributed ledger technology (DLT) and "the extent to which it could improve our services.". Capital Economics calls for the BoE to "get on the front foot with a big rate hike". Allianz's El-Erian says, on GBP, the fall is about extra tax cuts and Chancellor Kwarteng could recalibrate this. Alternative, would be for the BoE to hike at an emergency meeting. Adding, he would hike by 100bp. BoE publishes key elements of the 2022 annual cyclical scenario stress test; includes a scenario where the Bank Rate is assumed to rise rapidly to a peak of 6% in early 2023 before gradually reduced to sub-3.5%. Commodities WTI and Brent November futures remain subdued in early European trade following last week’s recession-induced losses. Spot gold trades in tandem with the Buck and sees resistance at around USD 1,650/oz after falling to USD 1,627/oz as a casualty of the Sterling flash crash overnight. LME metals are softer across the board with 3M copper futures having a hard time reclaiming USD +7,500/t status with upside capped by the Buck. Iraq began trial operations at the Karabala oil refinery which has a production capacity of 140k bpd, according to a statement from the Oil Ministry. German Chancellor Scholz signed a strategic agreement with UAE’s President on accelerating energy security and industrial growth, while UAE’s ADNOC signed an agreement with Germany’s RWE which includes ADNOC exporting its first LNG cargo to RWE and will conduct trial shipments of low-carbon ammonia to Germany. Furthermore, Chancellor Scholz said while visiting Doha that he talked with the Emir about LNG deliveries and that they want to achieve further progress, according to Reuters. Germany is preparing a national electricity price cap to be implemented this fall in the scenario the EU falls to agree on a similar move for the entirety of the bloc, via WSJ citing officials. Vitol's CEO said at the Asia Pacific Petroleum Conference that Russian gas supply cuts put enormous strain on supply-demand in Europe and that high gas prices are to impact 60%-80% of demand, while Ecopetrol's CEO said they are increasing crude exports to Europe this year to replace Russian supplies and are drilling 600 oil wells this year. Anglo American (AAL LN) tightens copper production guidance for Chile to 560k-580k tonnes of copper (prev. 560k-600k tonnes) due to lower throughput at Los Bronces caused by a combination of water restrictions and a change in ore characteristics, via Reuters. US Event Calendar 08:30: Aug. Chicago Fed Nat Activity Index, est. 0.23, prior 0.27 10:30: Sept. Dallas Fed Manf. Activity, est. -10.0, prior -12.9 Central Banks 10:00: Boston Fed’s Susan Collins Speaks to Boston Chamber of... 12:00: Fed’s Bostic Discusses Income Inequality 12:30: Fed’s Logan Speaks at Banking Conference 16:00: Fed’s Mester Discusses Economic Outlook DB's Jim Reid concludes the overnight wrap I wonder whether any research report has ever been written whilst watching synchronised swimming? Well if not, then you’re reading the first ever as I’m getting a head start on the early morning news by starting this on Sunday evening watching my daughter Maisie do her second session after getting into the local club. Watching this sport is going to take some getting used to after years of watching football, cricket, golf, F1, athletics, rugby... actually.... virtually every sport bar synchronised swimming. I think everyone felt they were swimming in a tsunami of newsflow last week after one of the most incredible macro weeks in recent memory in terms of breadth of events. Yes there have been more extreme weeks in crises but last week had a bit more variety and was outside of a crisis period. If over 500bps of global rate hikes wasn’t enough, you also had 2yr US yields moving higher for the 12th successive day on Friday (the longest steak since data begins in 1976), the BoJ intervening in FX markets for the first time since 1998, and what can only be termed as one of the darker days for sterling assets on record on Friday after a mammoth tax giveaway in what was a mini-budget in name and not by nature. Henry and I put a note out on Friday night (link here) showing that it was the third worst day for Sterling (-3.57%) since Black Wednesday in 1992, with the worst two since being the day after the Brexit vote (-8.1%) and after the initial covid shock in 2020 (-3.71%) when there was a global flight to dollars. We also show a graph of daily Sterling moves back to 1862 and on that it was the 41st worst day in history spanning 47,000 trading days. Obviously in the long era of fixed FX rates there were the occasional big devaluations which were much bigger than Friday. This morning is Asia it fell around -4.5% at one point (1.0392) which was a record low against the Dollar. It's around -2.78% as I type. This follows a weekend interview where Chancellor Kwarteng suggested that more tax cuts were to come so that certainly was a red rag to markets. Will we hear from the upper echelons of the BoE today? Watch out for any comments, especially at the market open. DB's George Saravelos suggested on Friday that the Bank of England need to do an inter meeting hike to restore policy credibility. There’s also a graph in our note mentioned above showing that Friday was the worst day for 5yr gilts (+50.3bps) since a +200bps hike in 1985 when sterling was also slumping. So maybe omens here. I suppose the only slight mystery is the timing of the sell-off as the mini-budget in magnitude was broadly in-line with the recent elevated fiscal expectations that had been building. However perhaps it was the unabashed revival of trickle-down economics that had markets a little aghast. It goes against the current economic orthodoxy and the overall zeitgeist of our immediate times. As such there is likely to be concerns of a credibility issue. We are publishing our long-term study today with the title “How we got here, and where we’re going?”. In it we try to put the current macro woes into historical context in an attempt to work out where we’re going. There are quite a few people who have proof-read it on my team and they were all thoroughly depressed at the end. I didn't feel that way writing it but maybe it's a case of starting point perceptions. Anyway, look out for it around the European lunchtime. Overnight in Italy, the right-wing alliance led by Giorgia Meloni's Brothers of Italy party was on course to become the nation’s first woman prime minister after exit polls gave it a clear majority. With the full results due later today, she is predicted to win up to 26% of the vote ahead of her closest rival Enrico Letta from the centre left. The right wing alliance is slated to be on course for around 43% of the vote, enough for a majority if correct. As I type, the euro is extending its losses against the dollar for the fifth day, its longest streak since April 28, falling as much as -0.5% to 0.9638, albeit being overshadowed by Sterling. For this week we have an array of consumer-driven economic data in the US and some important European inflation prints. We will also get a number of consumer sentiment indicators across the key economies and PMIs from Asia. Away from the data, there are more than 30 central banker appearances across the Fed and the ECB to keep markets busy. Tomorrow also sees referendums in the Russia-annexed Ukrainian territories as the conflict goes into its eight month. Going through the data in more details now. Starting with the US, the PCE and personal income and spending data will be front and centre for markets next week as they gauge the extent of inflationary pressures and the strength of the consumer. The Fed’s preferred inflation gauge, the PCE, due Friday, will be watched for signs of price pressures we saw in last week's CPI report. Our US economists expect core PCE to edge higher by +0.5% MoM (vs +0.1% in July) which won’t allow the Fed to take the foot off the tightening pedal. For the other two data points, our team forecasts a +0.1% MoM increase for both income and consumption. Final US Q2 GDP will also be released on Thursday and although DB expect no change to the -0.6% second reading, watch out for the annual benchmark revisions back to Q1 2017. History could be re-written that could have some implications for how we all think about the economy. In other US data, we will also get the consumer confidence index on Tuesday, along with durable goods orders, and inventories data on Wednesday, with the Chicago PMI on Friday. Over in Europe, all eyes will be on September's inflation data, including the Euro Area flash CPI release on Friday. Our economists are expecting the measure to hit a record +9.5%, up from the previous record of +9.1% in August. Other data in the region will include consumer and economic sentiment from Germany, France, Italy and the Eurozone throughout the week. Meanwhile, EU energy ministers will meet again on Friday regarding the emergency intervention amid elevated energy prices. Finally, next week's earnings line up will feature a number of retail bellwethers on Thursday. Among them will be Nike, H&M and Next. Micron will report that day as well. See our usual day by day guide to the week at the end which contains many of the key Fed and ECB speakers including Powell and Lagarde. Stock markets across Asia are mostly lower this morning. The Kospi (-2.40%), Nikkei (-2.30%) and the S&P/ASX 200 (-1.40%) are leading the declines. Meanwhile, the Hang Seng (+0.11%) is swinging between gains and losses after rising by +2.45% initially with Chinese shares mixed as the Shanghai Composite (-0.10%) is trading lower while the CSI (+0.46%) is up as we go to press. Stock futures in DMs are pointing to further losses with contracts on the S&P 500 (-0.49%), NASDAQ 100 (-0.46%) and DAX (-0.33%) all moving lower. Early morning data showed that Japan’s manufacturing sector continued to expand albeit at a slower pace as the latest au Jibun Bank manufacturing PMI slipped to a 20-month low of 51.0 in September from 51.5 in August, pulled lower by high energy and raw material prices that was exacerbated by a weak yen. At the same time, the au Jibun Bank services PMI returned to expansion, recording a level of 51.9 in September from August's 49.5 final reading. Moving on to China, in order to stabilise expectations in the FX market, the People’s Bank of China (PBOC) today raised the risk reserve requirement on foreign exchange forward sales to 20% from 0% beginning September 28 as the yuan faces increasing depreciation pressure, in line with most major currencies amid broad dollar strength. Looking back now on a week that will not be forgotten anytime soon. While there were historic central bank hikes all week, the biggest news came from the fiscal authorities, following the UK’s budget Friday, which had the largest tax cut package since the 1970s. Gilt yields had their largest one-day increase in decades with 2yrs +44.7bps, 5yrs +50.3bps, and 10yrs +33.3bps. As we mentioned at the top, 5yrs yields saw their largest move since 1985 after a +200bps hike aimed at helping a plunging currency. The pound fell -3.57% against the US dollar to within a percentage point of the weakest in the post-Bretton Woods 51yr free float era. It was already a busy macro week before the blockbuster budget, where we got more than 500bps of global central bank hikes and a currency intervention from Japan. In terms of the biggest players, the Fed delivered its third consecutive 75bp hike while the BoE delivered its second 50bp hike in a row, with both banks guiding toward yet more tightening, while the BoJ remained the outlier by keeping its accommodative policy in place, which isn’t going to help the yen turnaround even with intervention. When all was said and done, sovereign bonds and equities sold off in size, while yield curves flattened. 2yr Treasuries (+33.4bps, +7.9bps Friday), 2yr Bunds (+38.5bps, +7.2bps Friday), 2yr Gilts (+82.1bps, +44.7bps Friday) reached their highest levels since 2007, 2008, and 2008, respectively, as markets priced in more tightening to overcome inflationary pressures (and in the case of the UK, fiscal expansion). 10yr Treasuries (+23.5bps, -2.9bps Friday) ended the week a touch lower on the day but hit their highest levels since 2011 during the week, while 10yr Bunds (+26.8bps, +5.9bps Friday), and 10yr Gilts (+69.1bps, +33.3bps Friday) hit their highest levels since 2013 and 2011, respectively. The mixture unsurprisingly proved unpalatable to risk assets, driving the STOXX 600 and S&P 500 back to their lows for the year. The STOXX 600 retreated -4.37% on the week and -2.34% on Friday, the worst weekly and daily return since mid-June. The S&P 500 fell -4.65% (-1.75% Friday), returning to bear market territory. The FTSE managed to stay above its YTD lows, but still fell -3.01% on the week, its worst weekly return since mid-June as well, and retreated -1.97% on Friday, the worst daily return since early July. Tyler Durden Mon, 09/26/2022 - 08:08.....»»

Category: blogSource: zerohedge15 hr. 22 min. ago Related News

3 Utility Mutual Funds for Attractive Returns

Below, we share with you three top-ranked utility mutual funds. Each has a Zacks Mutual Fund Rank #1 (Strong Buy). Investors with a conservative mindset looking for stable current income can opt for utility mutual funds. These funds are used as defensive instruments, which protect investments during a market downturn. This is because the demand for essential services, such as those provided by utilities, is often shielded from market volatility.In recent years, many funds in this category have increased their exposure to emerging markets and unregulated companies. Though this strategy has increased the risk involved, it has also generated higher returns.Below, we share with you three top-ranked utility mutual funds, namely Cohen & Steers Global Infrastructure Fund CSUAX, Franklin Utilities Fund FKUTX and Fidelity Select Utilities Portfolio FSUTX. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.Cohen & Steers Global Infrastructure Fund seeks total return. CSUAX invests the majority of its total assets in U.S. and non-U.S. common stocks and other equity securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.Cohen & Steers Global Infrastructure Fund has three-year annualized returns of 5%. As of June 2022, CSUAX held 58 issues, with 6.1% of its assets invested in Nextera Energy Inc.Franklin Utilities Fund seeks capital growth along with current income by investing most of its net assets in public utility companies that provide electricity, natural gas, water, and communications services. FKUTX invests primarily in equity securities.Franklin Utilities Fund has three-year annualized returns of 8.2%. FKUTX has an expense ratio of 0.73% compared with the category average of 0.94%.Fidelity Select Utilities Portfolio seeks capital appreciation by investing most of its net assets in common stocks of companies engaged in the utility business. FSUTX uses a fundamental criterions like financial condition, industry position, as well as market and economic conditions to select investments.Fidelity Select Utilities Portfolio has returned 10.1% in the past three years. Douglas Simmons has been the fund manager of FSUTX since October 2006.To view the Zacks Rank and the past performance of all utility mutual funds, investors can click here to see the complete list of utility mutual funds.Want key mutual fund info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>View All Zacks #1 Ranked Mutual FundsWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (FSUTX): Fund Analysis Report Get Your Free (CSUAX): Fund Analysis Report Get Your Free (FKUTX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

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