Day traders have terrible track records. Academics who study stock pickers have long observed that the vast majority of professional money managers – about 85% – underperform their benchmarks over a multi-year period. Now those professionals are turning their sights on retail day traders, warning that the same poor results apply to them as well.
In the wake of a national racial reckoning this past summer and Black Lives Matter protests across the country, the share of CFPs who are Black or Latino remains below 4%. A panel of five CFPs and industry executives at this week’s Center for Financial Planning’s Virtual Diversity Summit expressed hope about upping that percentage
Some of the biggest names in blockchain have thrown their weight behind a new cryptocurrency derivatives exchange, signaling that the next bull market could be driven by institutional investors. Crypto derivatives platform Globe has raised $3 million in seed investments to launch its Globe Derivative Exchange. The new platform is aimed at bringing institutional investors
Aaron Marshall is CEO & Co-Founder of Keyrenter Property Management, the nation’s leading property management and real estate franchise. getty If you work in the property management sector, or anywhere in real estate, you probably get a lot of your friends and family members asking if it’s smart to buy a house right now. Heck, you might
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors. The NAR’s chief economist, Lawrence Yun, called the annual increase “a spectacular gain.” The annualized sales rate is the highest
Belarus’ Largest Bank Launches Cryptocurrency Exchange Service The largest bank in Belarus, Belarusbank, has reportedly begun providing a cryptocurrency exchange service, allowing customers to buy bitcoin using Visa cards. Belarusbank’s new cryptocurrency exchange service is in collaboration with bitcoin exchange service provider Whitebird, several local news outlets … read more. Bitpay Launches New Payroll Service
getty Have you seen it? It’s kind of hard to miss. The stock market has been acting “unusual” in many ways these past two weeks. It may be signaling a harbinger of things to come. There’s a significant difference between market volatility and market rotation. In the former, most recently experienced this past March, the
California will have a $26 billion windfall to help balance next year’s budget, an unexpected cushion against the pandemic-led recession as revenue exceeds earlier dire predictions and costs fall below expectations. The latest revenue and spending report by the state’s nonpartisan Legislative Analyst’s Office is in stark contrast to the doom predicted early this year,
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) - Gold futures prices are modestly up in early U.S. trading Friday. Bulls are working hard to keep prices above important chart
Trading volume is poor, with a raid! by Harvey Organ of Harvey Organ Blog NOV 19//USA PRESIDENTIAL ELECTION INTRIGUE ESCALATES TO A HIGH DEGREE//GOLD DOWN $9.80 TO $1872.70//SILVER DOWN 35 CENTS TO $24.00//GOLD TONNAGE STANDING UP TO 18.3 TONNES//CORONAVIRUS UPDATE: THE GLOBE//CHINA AND AUSTRALIA THROWING BARBS AT EACH OTHER//TURKEY RAISES RATES BY 4.75% TO STEM
Williams-Sonoma shares jumped 7% in the extended trading session on Thursday after the home goods retailer smashed analysts’ 3Q FY20 (ended Nov. 1) earnings estimates, driven by growth across all of its brands and higher margins. Home goods retailers have been experiencing a surge in demand since the pandemic’s onset as people are spending more
Take a look at some of the biggest movers in the premarket: Macy’s (M) – The retailer lost 19 cents per share for its latest quarter, smaller than the 79 cents a share loss that Wall Street was anticipating. Revenue beat estimates, however. Same-store sales dropped 20.2%, but that was smaller than the 23.3% loss
Everybody wants a lower tax bill. One way to accomplish that might be to live in a state with no income tax. As of 2020, seven states—Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming—levy no state income tax. Two others, New Hampshire and Tennessee, don’t tax earned wages. They do currently tax investment income
Liberty Media’s John Malone Michael Kovac | Getty Images Liberty Media Chairman John Malone said hard assets look attractive as the unprecedented coronavirus stimulus is poised to lead to a depreciation in currencies. “We’ve survived this [pandemic] because of enormous fiscal and monetary stimulus,” Malone said in an interview that aired Thursday with CNBC’s David Faber. “And
On a bright Sunday in mid-October, I ran 26.2 miles around New York City on my own. After eight months without training plans, group runs or shorter races, I was so convinced I wouldn’t finish my virtual marathon that I told almost no one I was attempting it. I went on to record one of
The US Centers for Disease Control and Prevention is urging Americans not to travel for the forthcoming Thanksgiving holiday, with officials warning they are “alarmed” about the recent rise in coronavirus cases, hospitalisations and deaths. The public health body released new guidance recommending against all travel for the holiday next week. New York City will
Earlier this year, Merrill Lynch took the unusual step for a wealth management firm to release data on diversity in its advisor ranks. Now the head of the wirehouse is urging his peers across wealth management to take a cue from the thundering herd and be more forthcoming about diversity in their advisor ranks. “For
The price of BTC has more than doubled since the Bitcoin’s third block reward halving in May. Or to be precise, BTC has gained 110% since the halving, with prices rallying from $8,566 on May 11, 2020 to test $18,000 as of this writing. According to a Nov. 19 report from crypto analytics firm Chainalysis,
Deryl McKissack heads McKissack & McKissack, an architecture, engineering and construction management firm with $15B in projects nationwide. getty As we go back to work in the office, the most critical question for businesses, real estate owners and property managers is how we will rework office space. As president and CEO of an architecture, engineering and
Volunteers distribute food to the needy in Orlando, Fla. Paul Hennessy/NurPhoto via Getty Images About 12 million Americans will lose unemployment benefits in December when CARES Act provisions lapse, absent an extension, according to a new analysis. Unemployment benefits will terminate for more than half of current recipients at the end of the year, coinciding
Hedge Fund Manager Brian Kelly Says Increasing Institutional Interest in Bitcoin Down to its Fixed Supply Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to
If you are the parent of a college student who does not file a tax return and whom you are not claiming as a dependent on your tax return, there is an important deadline looming. This Saturday In order to receive an Economic Impact Payment of $1,200 from the U.S. Treasury, the student needs to
Treasury Secretary Steven Mnuchin in a letter to the Fed Thursday said the Municipal Liquidity Facility will sunset Dec. 31, as scheduled. Bloomberg News The Federal Reserve’s Municipal Liquidity Facility and other Fed lending facilities will close at the end of the year, barring any legislative action from Congress to extend them. U.S. Secretary Treasury
The spot gold price today(Rs. 50860.0) is lower than this week’s average of Rs. 50885.7142857143 by 0.05%. The price was also higher than yesterday’s value of Rs. 50850.0. The spot gold price in India(Rs. 50860.0) increased by 0.02%, despite of no change in the global gold price($1866.0). Gold and other precious metals on Nov 20,
Providing good news for people suffering through wearing masks, and bad news for the politicians and businesses pushing the… by Mac Slavo of SHTFplan The long-awaited medical study from Denmark examining the ability of face masks to protect people from coronavirus was finally published on Wednesday. This study provides evidence counter to the propaganda dominant
Good things come to those who wait but might they have come too late for coronavirus vaccine maker Inovio Pharmaceuticals (INO)? Inovio has finally been granted approval from the FDA to proceed with the Phase 2 portion of the Phase 2/3 trial for its COVID-19 DNA vaccine candidate INO-4800. To recap: Inovio was about to
Bloomberg | Bloomberg | Getty Images Check out the companies making headlines after the bell: FireEye — Shares of FireEye jumped 12% in extended trading after the cybersecurity company announced a $400 million strategic investment led by Blackstone. FireEye intends to use the proceeds to fund the acquisition of Respond Software and grow the company’s
by Craig Hemke via Sprott Money News The year 2020 will be remembered for many things, not many of them good. However, we will also recall 2020 as the year the LBMA/COMEX consortium nearly failed, and then since that event in late March, it has also been the year when the CME Group, in a desperate attempt to
A fiduciary duty exists in law when a person or entity places trust, confidence, and reliance on another to exercise discretion or expertise in acting on behalf of the client. The fiduciary must knowingly accept that trust and confidence. In the U.S. legal system, a fiduciary duty describes a relationship between two parties that obligates
John Malone chairman of Liberty Media Michael Kovac | Getty Images | Vanity Fair) Liberty Media Chairman John Malone told CNBC that Amazon, Apple or Roku could dominate in the crowded streaming space given their ability to scale globally. “I think these global platforms will be enormously powerful,” Malone said in an interview that aired Thursday with