A real estate investor who made a fortune shorting subprime mortgages more than a decade ago told CNBC on Friday he believes the current housing market is in a bubble. “Absolutely. I think we’re in an omni-bubble. How long does it last? It depends. How long do you keep the faucet open and this money
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At the end of March, the White House announced the “American Jobs Plan,” a $2 trillion spending plan which includes a combination of one-time infrastructure spending such as mass transit expansion and water system lead-pipe replacement, and ongoing spending such as electric vehicle purchase rebates and job training programs. As characterized at CNBC, it would
Georgia’s unemployment rate dropped 0.3% to 4.5% in March, the state Department of Labor said Friday, which is far below the national average of 6.0%. “Georgia’s economy is firing on all cylinders as a result of our balanced approach in protecting both lives and livelihoods during the COVID-19 pandemic,” said Gov. Brian Kemp. “While we
Bloomberg China Joins U.S. as Engine of Global Recovery With Record Growth (Bloomberg) — China’s economy strengthened in the first quarter of the year as consumer spending rose more than expected, putting it on course to join the U.S. as twin engines for a global recovery in 2021.Gross domestic product climbed 18.3% in the first
Best traders take a simple approach to the markets… by Korbinian Koller via Midas Touch Consulting Silver is to reach US$30 soon, and we see it move to its all-time high at US$50 and beyond already within this year. Best traders take a simple approach to the markets to be able to take advantage of
Cost of debt is most easily defined as the interest rate lenders charge on borrowed funds. When comparing similar sources of debt capital, this definition of cost is useful in determining which source costs the least. For example, assume two different banks offer otherwise identical business loans at interest rates of 4% and 6%, respectively.
The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021. Dado Ruvic | Reuters It could be a big payday for Keith Gill, the Reddit trading crowd’s favorite and the man who inspired the epic GameStop short squeeze. Friday is the
A gunman shot and killed eight people at a FedEx facility in Indianapolis, Indiana, late Thursday, the latest in a string of mass shootings that have shaken the US in recent weeks. Indianapolis police responded to a report of shots fired inside a FedEx operation centre, and emergency medical services pronounced eight people dead at
Russia will expel 10 US diplomats and restrict the work of those remaining in Moscow in a tit-for-tat response to sanctions imposed by President Joe Biden on Thursday that stopped short of a dramatic escalation of measures. Moscow will ban Russians and other non-Americans from working in US missions in the country and stop a
The great stock-market rotation is revitalizing a $1.4 trillion corner of quantitative investing and handing ETF managers a rare opportunity to outperform the S&P 500. Systematic strategies wrapped up in ETFs — known as smart-beta products — took in a record $28 billion in March, according to Bloomberg data. After luring almost $7 billion so
On April 16, Nuvei announced that it has entered into a definitive agreement to acquire Mazooma Technical Services, a leading U.S. provider of gaming and sports wagering payment technology. Nuvei (NVEI) will acquire Mazooma for approximately $56 million, with additional payments up to a maximum amount of around $315 million dependent on certain performance criteria. Nuvei’s chair and CEO Philip Fayer said, “Mazooma will enhance and expand Nuvei’s portfolio of alternative
In this article RUN SPG PNC Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Jennah Moon | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Sunrun — The solar stock popped 10% after Simmons Energy, a division of Piper Sandler, upgraded the stock to overweight
by visualcapitalist The travel and entertainment industries have had a volatile ride over the last year. During the initial stages of the pandemic, when panic and uncertainty ran rife, BEACH stocks–booking, entertainment, airlines, cruises, and hotels—were left scrambling. Collectively, $332 billion in market cap washed away. Now, it appears the tide might be turning for these companies,
After much anticipation, Coinbase listed on the Nasdaq on Wednesday via a direct listing. Skybridge founder Anthony Scaramucci thinks the event should have been met with more attention from banks. “What I’m surprised about frankly is there isn’t a wake-up call at the banks, the commercial banks, like there was for the Netscape IPO in
800 S. Greer Pittsburgh, Texas Clayton Pilgrim CENTURY 21 Harvey Properties So much has changed in one year. What we once thought of as a rural community, too far from our favorite hang outs, is now practically an exurb of Dallas. A mansion of a home set up with fiber optics, dedicated office spaces, stealth
Matthew Turner (on the right) and his husband, Gerard. Photo: Matthew Turner Since Matthew Turner was laid off in October, he estimates he’s applied to close to 600 jobs, with no luck. Nearly as difficult has been his hunt for rental assistance. Turner’s contacted many local organizations in North Carolina where he lives, but has
The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services. From the end of this month, crypto assets cannot be used directly or indirectly as a means of payment in the country and no service can be provided for this purpose.
Bank accounts are often a source of dispute after someone dies. How you fill out the account opening forms and whose name you put on the account will determine who owns the account after you die. It is quite common for someone to think they have opened an account in their name alone – which
Two bills expanding the use of tax-exempt bond financing have been reintroduced in Congress with a good chance of being incorporated into infrastructure legislation. One three-pronged bill includes a restoration of tax-exempt advance refunding, a tripling of the cap on bank-qualified debt, and the reinstatement of Build America Bonds under another name. The other has
For Immediate Release Chicago, IL – April 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BHP Group BHP, Rio Tinto Group RIO, Southern
Moving forward, the pandemic will continue to suppress global food production, commodity prices will likely keep climbing, and increasingly… by Michael Snyder of The Economic Collapse Blog Food prices are outrageous now, but they are only going to go higher. Earlier today, I came across an NBC News article entitled “Get ready for higher grocery bills for
Real estate investment trusts (REITs) are a key consideration when constructing any equity or fixed-income portfolio. They provide greater diversification, potentially higher total returns, and/or lower overall risk. In short, their ability to generate dividend income along with capital appreciation makes them an excellent counterbalance to stocks, bonds, and cash. Real estate investment trusts own
SpaceShipTwo “Unity” on the runway after an aborted spaceflight test on Dec. 12, 2020. Virgin Galactic Shares of Virgin Galactic dropped in trading on Thursday, erasing its 2021 gains after founder Richard Branson sold more stock. The space tourism company’s stock has fallen more than 60% from its high above $60 a share in February,
Prominent hedge fund manager David Einhorn has savaged US financial regulators for allowing “quasi-anarchy” to break out in markets due to their inaction over a range of controversial issues. The president of Greenlight Capital waded into the GameStop controversy in his latest letter to investors, arguing that the market mayhem surrounding the struggling video game
The old-fashioned format of the studio album has found a home in UK rap. The reasons have nothing to do with nostalgia or sentimentality. MCs use albums to present a rounded portrait of themselves, a long-form adjunct to the release of singles and mixtapes. Ghetts’s Conflict of Interest is a good example from earlier this
As Merrill Lynch reworks its advisor development program strategy and restricts certain client prospecting methods, its Thundering Herd is thinning. Bank of America lost a net 585 advisors in the twelve months ending in March, reducing its headcount to 19,808 advisors, according to the company. A net 295 of those departures took place in the
Global investment firm Colony Capital Inc. has sold its 74% stake in 2 office properties in Dublin for gross proceeds of $351 million to Blackstone Property Partners Europe Holdings. The sale provides Colony Capital (CLNY) with additional funds for making digital investments along with advancing its Other Equity and Debt (OED) Monetizations. The two office
by Michael Snyder Would you pay more than 100 million dollars for a single deli in rural New Jersey that had less than $36,000 in sales during the last two years combined? I know that sounds like a completely ridiculous question, but the stock market apparently thinks that deli is worth that much. On Thursday,
In this article PPG AA DKNG QS The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the new DraftKings office in Boston on March 25, 2019. David L. Ryan | The Boston Globe via Getty Images Check out the companies making headlines after the bell on Thursday: QuantumScape
Massachusetts’ securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state. William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little