Barely a week after it set another record high, the Dow just suffered its worst one-day loss in its entire history.
While the latest turmoil hasnt reached the crisis level by any means, Ive been warning about a correction for months.
Warnings about an imminent collapse of developed economy stock markets, especially the U.S. markets, have been everywhere.
Whether you use Shillers CAPE ratio, Warren Buffetts preferred market-cap-to-GDP ratio, or traditional P/E ratios, markets were overpriced and ready to fall. Of course, that did not mean they would fall anytime soon, or....More>>>
For years, the airline industry was the butt of Warren Buffetts jokes.
In his 2007 letter to Berkshire Hathaway shareholders, Buffett laid out examples of great, good and terrible businesses.
The airline industry played the part of terrible.
Here is exactly what Buffett wrote:
Now lets move to the gruesome. The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money.
Here a durable competitive advantage has proven elusive ever since the days of the Wright....More>>>
The word “growth” is the central word in the phrase Dividend Growth Investing, yet DGI often gets a bad rap as a stodgy method of saving for retirement. I think this misperception arises from the fact that some proponents of the strategy (who may be more focused on income than returns) require a certain minimum yield threshold for their investments. This, in turn, screens many of the higher growth companies from their radar, as higher growth companies generally have lower payout ratios than their slower growth counterparts.
As a result, many of the same old slow-growing blue....More>>>
U.S. Treasury agents load boxes of files and records from New York nightclub Studio 54 into trucks to transfer to government offices, Thursday, Dec. 14, 1978. Co-owner of the nightclub Ian Schrager was arrested earlier today for cocaine possession during an Internal Revenue Service (IRS) search of the disco’s books. (AP Photo)
He loved the nightlife. He got to boogie. He just didn’t get around to paying his taxes. And for that, in 1980, Ian Schrager, a former co-owner of the storied Studio 54 disco, was sentenced to jail time following a conviction for federal tax evasion.....More>>>
A breakdown in the supply chain ofsodium bicarbonate the same basic compound as household baking soda for use in medical procedures is expected to limit access to certain treatments in hospitals through the end of the year.
A shortage of the antacid is prompting health care providers to carefully prioritize procedures, delay some operations and choose alternative treatments in some instances.
The crisis is directly connected to troubles at a supplier of pharmaceuticals giant Pfizer, but it has rippled through the medical sector, which relies on it to treat various conditions including....More>>>