The Value of Automatic Savings

The Value of Automatic Savings

Nick Murray, one of the most prolific scholars in our industry, states in his book Behavioral Investment Counseling that “your family’s financial well-being in later life, and its ability to leave significant legacies to its children, will depend largely on what percentage of its income it manages to save – perhaps the ultimate behavioral variable.” If Nick Murray is right – that the most important factor in a financial plan is the percentage of income saved – we would do well to listen. Now, to be clear, the purpose of…

MSCI CEO says limiting capital flows to China would be ‘devastating’ By Reuters

By John McCrank NEW YORK (Reuters) – Restricting the flow of U.S. capital to China would have a “devastating” impact on global markets, the head of index provider MSCI Inc (N:) told CNBC on Friday. “If that happens, then we’re going to have a world in which the fuel that lubricates economic growth and prosperity in the world is cut off, the oxygen gets cut off, and therefore you end up with a global economy that is significantly smaller than we have today,” said MSCI Chief Executive Officer Henry Fernandez.…

EU report to lay out options for development financing overhaul: sources By Reuters

© Reuters. EU report to lay out options for development financing overhaul: sources By Marc Jones and Jan Strupczewski LONDON/BRUSSELS (Reuters) – A European Union review of how to deploy the bloc’s international lending firepower will be delivered to finance ministers next week, sources have told Reuters, with three options for a major overhaul of its current set-up. The report by a “wise persons” group led by former senior EU official Thomas Wieser proposes ways to build a more effective EU development bank that also cuts the current overlap between…

SLX: A Bazaar Of Fire-Sale Steel Stocks – VanEck Vectors Steel ETF (NYSEARCA:SLX)

(Source – Pexels) The U.S. steel industry has been in a rough patch since the crash in housing development in 2008. Most steel companies trade at less than half the price as they had during their peak in 2008. Chinese demand for steel has slowed drastically, and ongoing global manufacturing slowdown has created extreme pessimism in the industry. I believe that the current economic slowdown and trade spats will begin to impact other parts of the economy like technology and healthcare, while the primary sector like steel and energy will…

Nasdaq cracks down on IPOs of small Chinese companies By Reuters

© Reuters. FILE PHOTO: A woman walks past the Nasdaq MarketSite in New York’s Times Square By Echo Wang and Joshua Franklin (Reuters) – Nasdaq Inc (O:) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. Nasdaq’s attempt to limit these stock market flotations comes as a growing number of them end up raising most of the capital in their IPO from Chinese sources, rather than from U.S. investors. The…