The Chinese currency (the yuan) is plunging fast… Bloomberg reports the yuan is less than 0.1% away from its January low. That was the weakest the currency had been since 2011… and it’s still dropping. The decline will spur additional, massive capital outflows… as Chinese citizens and businesses try to avoid another substantial drop in […]
From Mark Ford, founder, Palm Beach Research Group: Recently, a friend sent me a Sports Chew article that provided some amusing examples of professional athletes’ out-of-control spending habits: Former football player Vince Young’s rookie contract with the Tennessee Titans came with a $26 million paycheck. Like Mike Tyson, he was brilliant at spending it… He’s […]
Over 400,000 Americans are about to lose most of their pensions… CNNMoney reports Central States Pension Fund—which supports Teamsters Union truck drivers—will be broke in 10 years. It pays out $3.46 in pension benefits for every $1 it receives from employers. That equals a loss of about $2 billion each year. The U.S. Treasury Department […]
The world’s central banks are running out of options… Bloomberg reports a survey of 9,440 European businesses reveals negative interest rate policy (NIRP) has had little effect on spurring investment. A staggering 84% of the companies said NIRP had no impact on their growth plans. That’s up from 73% in 2015. The eurozone’s dealt with […]
From Mark Ford, founder, Palm Beach Research Group: My colleagues think I’m a spendthrift. Why? Because I use a full-service broker. They use online discount brokers. They tell me I’m crazy to pay some guy a ton of money to do what I can do myself. They may be right. But these colleagues of mine […]
From Mark Ford, founder, Palm Beach Research Group: For most of my life—since I was in my mid-20s—I dedicated myself almost entirely to making money. I started with service businesses—roofing, carpentry, pool building, and house painting. I graduated to retail operations—restaurants, bars, a health club, a martial arts dojo, two travel agencies, and two art […]
Editor’s Note: In today’s special Daily, we are pleased to welcome back Bonner Private Portfolio’s chief investment strategist, Chris Mayer. Below, Chris breaks down the importance of a company’s “moat”… and shows how it separates winners from losers. A truly great business must have an enduring “moat” that protects excellent returns on invested capital. — […]