On This Day: Art Cashin On One Of History's Most Famous Assassinations

By Art Cashin of UBS Financial Services On this day (+2) in 1916, one of history’s most celebrated but most inept assassinations began. In the retelling of most assassinations we hear how the victims might have been spared if….! You know the drill – if the guy guarding Lincoln’s box had not gone for a […]

Dramatic stock market rally runs out of steam

(Reuters) – A dramatic global stock rally faded on Thursday after a fall in Chinese industrial profits offered a reminder of the pressures on the world economy. Still, an index of world stocks stayed off near two-year lows hit earlier this week before Wednesday’s 1,000 point-plus surge on the U.S. Dow Jones index, which was […]

Why Soul Is The Secret To Family Business Success

Most family business consultants talk about the nitty-gritty finances of running an enterprise successfully. But to Tom Hubler, a St. Paul, Minn.-based pioneer in family business consulting, it’s all about “soul.” A former therapist, Hubler is a founding member and fellow of the Family Firm Institute in Boston, which is now international, with over 10,000 […]

Certainty Is Fraying

Authored by Charles Hugh Smith via OfTwoMinds blog, As we look ahead to 2019, what can we be certain of? Maybe your list is long, but mine has only one item: certainty is fraying. Confidence in financial policies intended to eliminate recessions is fraying, confidence in political processes that are supposed to actually solve problems rather than […]

Oil prices fall more than 1 percent as U.S. stock markets retreat

NEW YORK (Reuters) – Oil prices fell on Thursday after rebounding 8 percent in the previous session, with prices pressured by concerns over a faltering global economy and worries about a glut in crude supply. FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy […]

France's Vinci in $3.7 billion swoop on UK's Gatwick airport

PARIS (Reuters) – France’s Vinci (SGEF.PA) is taking advantage of a Brexit hit to UK asset prices to buy a majority stake in Britain’s second-busiest airport, London’s Gatwick, for 2.9 billion pounds ($3.7 billion), the construction company said on Thursday. The deal to buy a 50.01 percent stake gives Vinci, which already runs 45 airports […]

Four Small Business New Year's Resolutions For Success In 2019

The end of the calendar year is a natural time to reassess how your business did in the previous 12 months and then devise a plan for improving. By almost every measure, 2018 was a good year for the economy. Small business optimism is high, holiday sales were the strongest in years, unemployment is low, […]

Franchise Flashpoints: 7 Trends That Shook The Industry In 2018

This year saw a number of hot-button issues make headlines in the world of franchising—some positive and some ominous. From franchisee uprisings to regulations that benefit consumers and employees, 2018 was a year that saw some real change in the franchising landscape. Chicago Area Fast Food Worker Activists Organize National Strike To Combat Sexual Harassment.Getty […]

Strategist Jim Paulsen predicts slow growth, rate cuts and bull run in 2019

A slowing economy and more cautious Federal Reserve next year could extend the longest bull run in history, Leuthold Group’s Jim Paulsen told CNBC on Thursday. The strategist is the latest to join a growing chorus, including Art Cashin of UBS and Guggenheim’s Scott Minerd, saying the Fed “is done raising rates and maybe will […]

Thursday links: jumping back in

Want to stay up-to-date with all of our posts? Sign up for our daily e-mail newsletter and get all the good stuff when it comes out. Quote of the Day “Just like a roller coaster, the only market participants who get injured are those who jump off. In market speak, this means selling stocks during […]

Gatwick Airport Drone: Lots of Second-Guessing, but Not Many Answers

LONDON — More than a week after somebody (or somebodies) with a drone (or drones) shut down a major airport and ruined the travel plans of tens of thousands of people, the British police had little to offer on Thursday except warnings about how little they had to offer. “You won’t find a police service […]

U.S. regulator SEC to operate on partial basis due to federal shutdown

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) announced on Thursday that it will partially operate with reduced staff during to the ongoing federal shutdown. The agency […]

Mueller Must Be Investigated For Destruction Of FBI Evidence: Giuliani

Special counsel Robert Mueller needs to be investigated for destruction of FBI evidence, President Trump’s attorney Rudy Giuliani said in an interview with Hill.TV’s John Solomon and Buck Sexton.  Referencing recent reports that Mueller’s office allowed text messages from former FBI employees Peter Strzok and Lisa Page to be destroyed, Giuliani levied harsh accusations at the […]

U.S. jobless claims signal labor market strength after rough patch

WASHINGTON (Reuters) – The number of Americans filing applications for jobless benefits fell marginally last week in a sign of labor market strength, with claims appearing to stabilize after drifting higher in recent months. Job seekers line up at a job fair of an oil services giant Halliburton at the MCM Grande Fundome hotel in […]

China To Take Over Kenya's Largest Port Over Unpaid Chinese Loan

No more Mr. Nice Chinese Guy. After years of “benevolent” handouts to various African countries by Beijing, all of which however came in the form of loans, of which few have led to viable, long-term projects and cash-flow generating assets, and led to accusations that China is pursuing a “new colonialism” of the African continent […]

2019 Explosion Of Cannabis Mergers And Acquisitions Predicted

Seattle Cannacon bannerJulie Weed Most of the businesses growing, processing and selling cannabis across the United States are small independently-held entities. That may change in 2019 which looks like a big year for industry mergers, acquisitions and expansion. Large companies, like those in the food, tobacco and pharmaceutical industries have mostly stayed on the sidelines, […]

Startup links: the same playbook

Thursdays at Abnormal Returns are all about startup and venture capital links. You can check out last week’s links including a look at the growing IPO pipeline for 2019. Quote of the Day “The mistake I think we make in the startup/tech/VC sector is that we look at things like Google/Amazon/Facebook/Twitter, or more recently Uber/Airbnb/Slack, […]

US Jobs Outlook Crashes Most On Record

With consumer confidence in November printing near the highest levels since the dot com bubble, it was almost inevitable that in light of the recent economic and market turmoil, the December print would disappoint, and sure enough it did just that, when the Conference Board reported the December print dropped from 136.4 to 128.1, missing […]

Wheels: A 72-Year-Old Italian Star Barely Showing Its Age

Every year, J. D. Power highlights the automobiles that retain the highest percentage of their original price after three years. But the vehicle that beats them all never makes the list. This winner would seem an unlikely value champ. It looks much as it did 72 years ago, when it made its debut. It has […]

“Something Is Wrong”: Deutsche Bank Spots An Odd Market Divergence

One of the closest correlations between major asset classes has been that between stocks and bonds. But not anymore, because as Deutsche Bank’s chief international economist notes in a Wednesday note, the historical relationship between stocks and bonds is breaking apart, prompting Slok to exclaim that “something is wrong“, as it could portend danger for […]

China's Sinopec suspends top officials at trading arm

SINGAPORE (Reuters) – Sinopec (600028.SS) has suspended two top officials at its trading arm Unipec and is evaluating the details related to certain crude oil transactions that have incurred some losses, the Chinese state oil company said on Thursday. FILE PHOTO: Unipec’s President Chen Bo speaks at the 34th Asia Pacific Petroleum Conference (APPEC) in […]

Investment Wisdom of Top Endowments Are a Myth

“Between 2009 and 2016, college and university endowments underperformed market benchmarks by more than twice as much as other non-profit endowment funds, such as charitable foundations, according to the paper by Georgetown University’s Sandeep Dahiya and New York University professor David Yermack.”  –Institutional Investor Endowments and foundations have lagged behind a simple 60-40 portfolio of […]

Tesla sets up Shanghai financial leasing unit as China plans accelerate

FILE PHOTO: A Tesla Model 3 car is displayed during a media preview at the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Jason Lee/File Photo BEIJING (Reuters) – Tesla Inc (TSLA.O) has registered a financial leasing company in China, a local business registration filing shows, in the latest sign the U.S. […]

JPMorgan to pay more than $135 million for improper handling of ADRs

The SEC Wednesday announced that JPMorgan Chase Bank N.A. will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts. ADRs – U.S. securities that represent foreign shares of a foreign company – require a corresponding number of foreign shares to be held in custody at a depositary bank. […]

Here’s how it works now.

A mystery! Who doesn’t love a good mystery? Bloomberg headline: Magellan’s journey from icon to afterthought may be the starkest example of the eroding trust in professional stockpickers. Feingold’s record is strong: Under his tenure, which began in September 2011, Magellan has bested the S&P 500 index every full year but 2016. Annualized gains have […]

Ten Digital Marketing Predictions For 2019

Share to facebook Share to twitter Share to linkedin “The future is much like the present, only longer,” said baseball pitcher Dan Quisenberry. Here are some predictions for the future of marketing in the year 2019 and beyond from some thought leaders I polled, plus a few of my own prognostications. Here are predictions from […]

Can Netflix Take Turkey’s TV Dramas to the World?

LONDON — On a recent evening, Nahid Akhtar, 47, sat on a sofa in London shouting at a TV. She was watching “The Protector,” Netflix’s first original series in Turkish. The show, released that day, is about a young antiques dealer, Hakan Demir (Cagatay Ulusoy), who discovers he belongs to an ancient line of superheroes […]

Links 12/27/18

Japan to restart commercial whale hunts BBC 🙁 Rerouted cruise ship rescues two fishermen stranded in Caribbean MPR (Chuck L) Etna, sisma di magnitudo 4.8 a Catania: feriti lievi, case crollate e tanta paura. 600 sfollati La Stampa 🙁 A life on the tracks New Statesman (Chuck L) Greenland’s Rapid Ice Melt Persists Even in […]

Opening Bell 12.27.18

The Opening Bell is powered by The Water Coolest. (Confused? Don’t worry, we’ve made you a new friend.) You must be this tall to ride [The Water Coolest] Describe the stock market in five words: Roller Coaster Tycoon Death Coasters. The markets have had what CNBC would call a “roller coaster of a week.” The Donald threatening to fire Jerry […]

Verizon Writes Down Oath

You’d like to believe the people, mostly men, running America’s companies know more than you do. Now I’m not so sure. Did anybody think that Yahoo had value? Or AOL? If you haven’t switched to Gmail, the joke is on you. There’s been no investment in AOL’s e-mail product in seemingly a decade. Change your […]

Fund investors pull $56 billion in biggest exit since 2008

Mutual funds suffered redemptions of $56.2 billion in the week ended Dec. 19. That’s the biggest outflow since the week ended Oct. 15, 2008, according to data released Wednesday by the Investment Company Institute. And the numbers over the last several weeks have only gotten worse as the chart below shows. Yet even as investors […]

Remember Bitcoin? Some Investors Might Want to Forget

PALO ALTO, Calif. — Last year around this time, a toy called a cryptokitty sold for $170,000. A real estate agent remade himself as CoinDaddy, producing cryptocurrency-themed music videos. The man behind a company called Ripple became for a moment richer than Mark Zuckerberg. Kids barely out of high school were buying Lamborghinis because of […]

Financial Samurai 2018 Year In Review: Almost A Fantastic Year

Although 2018 ended on a down note with the stock market selling off, I feel good about how things unfolded. I’ll take the ratio of three good quarters to one bad quarter any year. Believe it or not, my theme for 2018 was: back to early retirement life. I pushed myself to the point of […]

5 Major Social Media Marketing Mistakes And How To Overcome Them

Angry woman in front of laptop during workingGetty Most modern businesses understand the importance of using social media to promote their brand and interact with consumers. Indeed, social media is at the core of many companies’ digital strategy, often delivering measurable results in terms of sales, leads and customer service. That said, there are many […]

Resource wealth depends on market orientation

This paper explores the effect of market orientation on (known or available) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Our empirical estimates based on a large panel of countries show that increased market orientation causes a significant increase in discoveries of natural resources. In a thought experiment where […]

We Are Twelve Years Old

Wowsers, we have been so busy that we managed to miss commemorating the anniversary of this website, which launched on December 18, 2006. There are so many people who have been important to the success of this site over the years that I am a bit fearful of attempting a list, out of the risk […]

The Microeconomics of Christmas

Yves here. Help me. This sort of thing gives economists a bad name. I am sure readers will manage to have even more fun with this, erm, Christmas piece, but consider one looming consideration they miss: shopping is work. Some people don’t like shopping. Other people who are indifferent don’t have the time. So having […]