Retailers send a letter to President Trump asking for an end to tariffs

KEY POINTS More than 170 shoe retailers, including Nike and Foot Locker, are asking President Donald Trump not to raise tariffs on footwear. The industry, in a letter sent to the White House on Monday, says: “These tariffs would mean some working American families could pay a nearly 100 percent duty on their shoes.” Trump is considering raising tariffs to 25%. More than 170 shoe retailers, including Nike, Under Armour, Adidas, Foot Locker, Ugg and Off Broadway Shoe Warehouse, have penned a letter to the White House asking President Donald Trump to consider a halt in raising…

The Story of an ETN

By Grant Engelbart, CFA, CLS Investments It all started on a fine August day in 2006. Bees were buzzing, China was surging, NINJA loans were flowing, and oil had just come off an impressive surge and was poised for new records. Exchange-traded products had been around for more than 15 years but had yet to reach their more recent levels of rapid growth. Investors wanted exposure to high-flying oil prices, and they wanted better tax treatment. In came Barclay’s, ready to raise the exchange-traded note (ETN) industry to new heights.…

Behavioral Pitfalls of Investors – Hindsight Bias

The following article is Part 1 of a series highlighting and analyzing cognitive errors and emotional biases of investors, a list of which is found in the CFA Institute curriculum for the Level III exam. By Ryan Gilmer, CFA – VP Investment Management – TOPS ETF Portfolios “Life can only be understood backwards, but it must be lived forwards.” – Soren Kierkegaard, Danish philosopher One of the biggest problems with investing is that the future is uncertain. We can estimate, forecast, prognosticate, research, analyze, investigate, and scrutinize the market or a…

Goldman Sachs warns that tariffs could lower corporate profits by 6%

Should President Donald Trump follow through on threats to put tariffs on virtually all Chinese imports, it could have a significant impact on the bottom line for American companies. Goldman Sachs estimates that if the president imposes duties on the remaining $300 billion in goods not already targeted, it could lower earnings estimates for U.S. companies by up to 6%. “Our economists expect that a deal will eventually be struck that leads to a “staggered off-ramp” for existing tariffs, but believe that the likelihood of a final round of tariffs on the remaining $300…