Personal Finance

Smith & Wesson loses fight with nuns and other shareholders on gun safety proposal

The maker of Smith & Wesson firearms lost a prolonged fight with religious groups and other shareholders who want it to consider a plan to help reduce the harmful effects of its products.

Steve Cohen Not Crypto Enough For Local Luddite

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons Steve Cohen is trying, you guys. Trying to figure out these cryptocurrencies that were all the rage nine months ago. Trying to glean how to make money on them. Even trying to give other people a shot thereat. But the Big Guy is old school and it works for him. That means anyone who wants to join the revolution, or at least make (or lose!) a ton of money on it, is going to have to do so somewhere other than 72 Cummings Point Road. And that place is where dreamers and charlatans have flocked for a hundred years: Lipstick City, baby! That’s where ex-Point72er Travis Kling is heading to make his bitcoin billions. And his timing couldn’t be better, having quit at the top of the market back in December and planning to launch his Iki...

One correlation in the commodities market could point to new S&P 500 highs

Stocks are fighting to take back record levels this week. One technician is looking in an unusual corner of the market for proof they can build on this rally.

Snap jumps after rival Instagram loses its founders

The simultaneous exits of Instagram's founders could signal trouble at the company and lead to a tumultuous transition period — either of which could be good for Snap. 

Amazon could reach $3,000 per share in two years, Jefferies says

Amazon shares could surge to $3,000 by 2020, driven largely in part by strong growth in the company's Prime, cloud and advertising businesses, an analyst at Jefferies said Tuesday.

Eddie Lampert Has Some New Ideas To Prolong Sears’ Suffering

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons Sears has taken yet another turn for the worse, you guys. Its vitals are plummeting. Even the course of treatment recommended last month won’t do the trick, seeing as how it would raise only $480 million of the $1.1 billion Sears needs to survive its debt payments over the next couple of years. Simply put, it “now faces significant near-term liquidity constraints” in addition to all of the other things that ail it. The man in charge of Sears’ medical care (who may also be the man in charge of putting it into intensive care in the first place), Dr. Eddie Lampert, has taken some pretty drastic steps in his decade-plus overseeing the apparently terminal retailer, specifically a whole series of amputations that have left Sea...

Looking to jump on the cannabis investing bandwagon? It’s buyer beware

If you walk into one of MedMen‘s cannabis retail locations, you will be greeted with rows of tables equipped with tablets that you can use to browse for items. While the layout may resemble an Apple or other tech store, the products are much different. MedMen’s selection includes traditional marijuana products, including pre-rolled joints and/or plants sold in jars ready for smoking. Also on sale are nontraditional items, such as water infused with Cannabidiol, or CBD, which is aimed at helping athletes’ muscles recover after activity, or topical creams that can help with everything from pain relief to skin irritation. The company has 14 locations in states such as California, New York and Nevada. But it has licenses for more than 50 stores, having just added deals for ne...

Opening Bell: 9.25.18

Instagram Founders Depart Facebook After Clashes With Zuckerberg [Bloomberg]Kevin Systrom and Mike Krieger, who have been at the company since Instagram’s acquisition by Facebook in 2012, had been able to keep the brand and product independent while relying on Facebook’s infrastructure and resources to grow. Lately, they were frustrated with an uptick in day-to-day involvement by Zuckerberg, who has become more reliant on Instagram in planning for Facebook’s future, said the people, who asked not to be identified sharing internal details.Without the founders around, Instagram is likely to become more tightly integrated with Facebook, making it more of a product division within the larger company than an independent operation, the people said. Republicans Rally Around Kavanaugh Nomination [...

College 529 savings hit record $328.9 billion

Paying for college takes dedication. A savings shortcut doesn’t hurt, either. That’s why more families are taking advantage of 529 college savings plans. Not only can you get a tax deduction or credit for contributions (more than 30 states and the District of Columbia offer a direct state tax deduction for your contributions), earnings grow on a tax-advantaged basis and, when you withdraw the money, it is tax-free if the funds are used for qualified education expenses such as tuition, fees, books and room and board. The new tax law even expanded the use of plans to include private-school tuition from elementary through high school. Families now have the option to use up to $10,000 in annual tax-free 529 plan withdrawals to cover those early educational expenses. Total investmen...

The hidden fees hurting your wealth that not even index funds want you to know about

With the S&P 500 index approaching double-digit returns for the third year in a row, many investors are likely salivating over their swelling wealth in investment reports. But they should know something about what’s not printed in most investor statements: accurate results. That’s because investment reporting today is misleading, largely due to out-of-date regulations and a lack of innovation in the wealth management industry. It doesn’t have to be this way, though. New technology now exists for wealth managers to provide a “total wealth return” performance report, or an accounting of the total amount of net wealth they generate for their clients. Think that is what you’re already getting today? You probably would not be alone, but you would be wrong...

4 investing mistakes to avoid

Each person’s individual investing strategy may be different, but there are things every investor should avoid. Many individuals start investing with little to no education about the markets and learn the hard way by losing money. Instead, take note of these four investing mistakes. 1. Trying to time the market. Popularized by film and social media, day trading appeals to many because of the high rate of returns. Not only that, it’s been personified as a get-rich-quick method when, in reality, that is far from the truth. Day trading or trying to time the market is highly risky and typically results in loss of principal and even more. Instead of trying to time the market, you should aim to slowly add to your portfolio and dollar cost average over time to let your money grow. Cer...

Facebook shares drop after Instagram co-founders resign; JP Morgan sees ‘meaningful’ pullback

Facebook shares are likely to fall significantly in the short term due to the departure of two key executives, according to J.P. Morgan.