Personal Finance

Because It Worked So Well Last Time, Argentina Will Borrow $50B From The IMF

In the year 2000, the International Monetary Fund provided a $40 billion bailout to Argentina, to help the country reduce its growing debt burden. In exchange, the IMF demanded—as it always does—crippling austerity, because the sort of lower-rung countries that require the IMF’s help must be punished for their profligacy. This led to the collapse of the Argentine peso, double-digit unemployment, the default the bailout was supposed to prevent (much to Paul Singer’s eventual glee), the terminal distrust of the Argentine people toward the international financial system and the rise of the Kirchner clan to the Casa Rosada. But like the country’s last default, all of that was like 100 years ago. So why not try it again without learning anything from history? The International Monetary Fund and...

For brave investors there’s two ways to bet on bitcoin

Bitcoin investing is now part of the mainstream, like it or not, but cryptocurrency investing is complicated and risky.

Opening Bell 6.11.18

KKR to Buy Health Services Provider Envision for $5.57 Billion [Bloomberg] KKR & Co. will buy Envision Healthcare Corp. for $46 a share after an almost yearlong sale process for the medical company, which staffs hospitals and runs surgery centers in the U.S. The all-cash deal values Envision at $5.57 billion. Including debt, the acquisition is valued at $9.9 billion, the health-care company said in a statement Monday. Envision said the deal represents a 32 percent premium to its stock price in November, when it announced it was reviewing strategic alternatives. Investors such as KKR and strategic buyers including health insurers have been snapping up health-care assets in the U.S. Last year, KKR finished raising money for a $1.45 billion health-care fund dedicated to growth stage compa...

Buy EA shares because its battle-royale mode in ‘Battlefield’ will fend off ‘Fortnite,’ analyst says

Piper Jaffray reiterates its overweight rating for Electronic Arts shares.

Forgot to withdraw from your retirement account? Here’s how to avoid that killer IRS penalty

So you failed to take a required minimum distribution from your individual retirement account. Now you’re staring at a 50 percent penalty on the money you should have withdrawn after turning age 70½. But don’t just accept the penalty, say personal financial advisors. You may be able to get the IRS to forgive your mistake. The penalty for not taking RMDs is steep. According to the IRS worksheet for figuring RMDs, a traditional IRA holder must withdraw about 3.65 percent by the last day of the year the holder turns 70½, which is the year RMDs begin. The percentage rises each year after that. For a $200,000 IRA, the first-year RMD is about $7,300. If the account holder fails to take the RMD as required, the penalty comes to half that, or $3,650, plus whatever taxes are due. “...

‘Unapologetically bullish’ analyst sees S&P 500 adding 11 percent before year’s end

To one "unapologetically bullish" portfolio manager, the rally will pick up speed and surge through year's end.

Tech is powering the rally in an ‘uneven market,’ macro expert says

Tech stocks’ big gains this year have contributed disproportionately to the market’s rally, and that has some concerned.

Here are the things you absolutely should not do after receiving an inheritance

Many people do not anticipate receiving an inheritance, or know what to do with it when they receive it. The amount of the inheritance may even be a surprise. If you’ve recently received an inheritance, it’s probably not under the best circumstances. Dealing with paperwork regarding financial and legal issues are usually not a priority during an already emotional time, and it can be easy to put off making decisions. Unfortunately, while a large lump sum may seem like a lot at the time, the money may not go as far as you think. Here are four examples of poor decisions made by those who have received a large inheritance. 1. Spending the entire inheritance immediately. This is the obvious one, but it’s easy to see why it would happen. When your bank balance goes from almost ...

The ‘Most Important Week Of The Year’? Full Week Ahead Preview

Is this the most important week of the year? Spoiler alert: almost certainly not. And that’s not to downplay the long list of important scheduled events. Rather, it’s just to say that invariably, scheduled events never end up being the ones that matter unless those scheduled events are elections. The two marquee events for markets this week are obviously the Fed and ECB meetings and I decided to eschew writing the usual Sunday evening week ahead preview in favor of in-depth posts on Powell and Draghi (and also in favor of eating pan seared Diver scallops at this new place that opened up down the street). The fate of emerging markets is in Jerome Powell’s hands and Draghi is about to try and see what happens when price discovery is allowed to resurface in European bond and credit markets. Y...

The euro is unlikely to see any gains despite the ECB planning an ‘easy money’ exit

The euro is unlikely to see a massive upswing Thursday as the ECB discusses the end of monetary stimulus.

Why flunking or dropping that college class will dent your wallet

If your child’s thinking of withdrawing from that organic chemistry class he hates, tell him to hang in there and do the best he can — thousands of dollars in financial aid may depend on it. That’s because college students must meet a series of requirements, including maintaining a minimum C average and successfully completing a minimum number of credits, in order to qualify for the full amount of loans and grants they’re expecting to receive. In the worst case, students who drop from full-time to less than half-time — that is, fewer than six credits per semester for undergraduates — may no longer be able to take out federal loans and may have to start repaying what they’ve already borrowed. “These days, almost every academic decision is a financial decision,&...