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 Thanks to passage of Proposition 30 last month, high-income Californians would pay the nation’s highest marginal income tax rates – nearly 52 percent — if President Barack Obama and Congress fail to make a deal to avoid the so-called “fiscal cliff,” according to a new study. Without a fiscal cliff deal to the contrary, the Bush era tax cuts on high-income taxpayers would expire next year and rates would return to their previous [...] Wall Street lobbyists are awesome. I’m beginning to develop a begrudging respect not just for their body of work as a whole, but also for their sense of humor. They always go right to the edge of outrageous, and then wittily take one baby-step beyond it. And they did so again last night, with the passage of a new House bill (HR 2827), which rolls back a portion of Dodd-Frank [...] The US economy grew by more than expected over the spring but Europe sank deeper into the mire. US gross domestic product rose at an annual rate of 1.7 per cent in the second quarter – slightly better than the 1.5 per cent initially reported and equivalent to around 0.4 per cent growth on a quarterly basis. But it was still slower than the 2 per cent annual growth rate racked up in the first three months of the year [...] By Henry Blodget | Daily Ticker
Many of those who work on Wall Street go through a process in which they gradually learn that what is perceived as “smart investing” is often unbelievably dumb. Specifically, they learn that many of the recommendations that Wall Street makes–and the transactions that Wall Street gets paid to facilitate–are not in their clients’ best interests. And once they learn that, they face a choice: Continue to make the same bad recommendations [...] All kinds of rumors bubbling around about a ‘Master Plan’ in Europe emanating out of Germany. There are very few details, just chatter about chatter about some kind of crisis end. Markets are getting some lift on the news. US stocks are moderately green, but Europe is in full-on rally mode. Of course the rumors will be denied like crazy publicly. http://www.businessinsider.com/master-plan-2012-6#ixzz1wpPeQXKk QE3 FTW!!! BREAKING: CNN reporting that Fed either PRINTS or MARKETS ARE DOOMED!!!! “It’s all about [...] “It’s all about the Fed next week,” said Keith Springer, president of Springer Financial Advisors in Sacramento Calif. “If the Fed comes through with a QE program, that could save the market — if not the market will fall off a cliff.” The Fed is under intense pressure from investors to announce another round of stimulus, following Friday’s dismal jobs report. http://money.cnn.com/2012/06/03/investing/stocks-lookahead/index.htm?source=cnn_bin
The point of QE is to lower interest rates. http://finance.yahoo.com/echarts?s=^TNX%20Interactive#symbol=^tnx;r Yields are dropping so no [...] http://money.cnn.com/2012/06/03/investing/stocks-lookahead/index.htm?sou… “It’s all about the Fed next week,” said Keith Springer, president of Springer Financial Advisors in Sacramento Calif. “If the Fed comes through with a QE program, that could save the market — if not the market will fall off a cliff.” From ETFdb: Exchange-traded funds (ETFs) have burst on to the scene in the last few years, raking in hundreds of billions of dollars in assets and prompting a major shift toward indexing strategies in the process. ETFs have empowered financial advisors (FAs), registered investment advisors (RIAs), Chief Financial Officers (CFOs), money managers, and retail investors to take greater control over their portfolios, pushing down fees and maxing out tax efficiency in the [...] WASHINGTON (AP) — The Securities and Exchange Commission says it is charging two financial advisors and three others connected to them with insider trading for more than $1.8 million in illegal profit gained from confidential information gleaned through an Alcoholics Anonymous relationship. The SEC says Timothy J. McGee and Michael W. Zirinsky, representatives at Ameriprise Financial Services, traded in stock of insurance company Philadelphia Consolidated Holding Corp. before it was publicly known it was [...] From Tech Insidr: After an extremely volatile 2011, some investors are beginning to rethink their investment approach. In a tough economic environment, growth stocks become even more risky and some investors tend to focus on “safe” and “risk-averse” stocks that are flushed with cash. During 2011, the S&P 500 Index was up as much at 9%, but it only finished up the year with a paltry 2% return (including dividends). Going through [...] (Reuters) – U.S. private employers added 179,000 jobs in April, coming in shy of economists’ expectations, a report by a payrolls processor showed on Wednesday. KEY POINTS: * Economists surveyed by Reuters had forecast the ADP Employer Services report would show a gain of 198,000 jobs. * March private payrolls were revised up to an increase of 207,000 from a previously reported 201,000. COMMENTS: ELIZABETH MILLER, PRESIDENT OF [...] A call came in this morning from Shawn Hackett, founder and CEO of Hackett Financial Advisors, a Boynton Beach, Florida money management firm with a specific focus on agricultural commodities. “Why is Cargill selling Mosaic (MOS)?” Hackett asked. “They know more about ag than anyone else in the world — why would they be cashing out of the fertilizer business when everyone else is falling all over themselves to get in, [...] With some financial advisors pulling you in one direction and others pulling you in the opposite direction there is a danger you might come apart at the seams. Stocks have been rising very quickly in the past two months. That’s great for for the long investors! In addition it has been on very light trading volume. The volume of the DOW is approximately only 50% of one year ago. That signals somewhat [...] |
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