07/19/2021
Today Ken Fisher, RCM What do you believe that is actually false? It is among the most basic investment questions anyone can ever ask. It is now one those expecting value stock leadership should ask themselves. All last quarter, pundits table-pounded that economically sensitive value stocks were leading the stock market upward, fueled by early bull market trends, economic re-openings and government stimulus. After celebrating Q1's strong value performance, they were adamant on persistence—all quarter. But value lagged, badly. And that should be a wake-up call for investors. Let me explain. |
Paul La Monica, CNN The Dow and S&P 500 are both up about 15% in 2021 and are each about a percent away from their all-time highs. But as Friday's market sell-off showed, investors remain extremely nervous about the market. |
David Gelles, NYT "The more taxes I pay, the happier I am," says Mr. Joly, who is waging a campaign to get big business to be more socially responsible. |
John Tamny, Forbes When the rich get to keep what's theirs, we all benefit. |
Eric Levitz, New York Magazine Boomers will bequeath more than $30 trillion by 2045. Some millennials will become beneficiaries of high housing costs and stock prices. Others won't. |
Andrew Wilford, RealClearMarkets In the tax policy world, an outcome that isn't just about the worst possible option is a pleasant surprise. So while the Organization for Economic Cooperation and Development (OECD)/G20 initial global minimum tax deal is far from a good thing overall, it at least offers a silver lining in the form of an effort to end digital taxes as part of the bargain. When I wrote about the negotiations over global minimum taxes last month, I gloomily raised the possibility that the United States would roll over on digital taxes in order to secure an agreement on a global minimum tax. At this point, it... |
Jordan Schachtel, AIER "There are no longer any 'success stories' involving nations using tyrannical means in an attempt to stop a virus. Zero Covid, as any rational person could have predicted a long time ago, has failed in spectacular fashion." ~ Jordan Schachtel |
Grace Woodruff, Slate A pediatrician on why this decision comes at a particularly dangerous moment. |
Jeffrey Tucker, RCM We all inhabit a variety of subcultures in life - sports, religion, music, other hobbies - so we cannot be expected to be up on the proprietary language of them all. So I did not know until last night that devoted rock climbers are called dirtbags. Strikes me as funny! Also, I'm not entirely sure that I knew that people who gather with groups on tracks to do tricks on skateboards or longboards are simply called skaters. |
Rani Molla, Vox Republicans are less likely to say remote workers labor just as hard as or harder than non-remote workers. |
Charles Gasparino, New York Post ViacomCBS Chair president Shari Redstone is courting every possible media conglomerate in her attempt to keep the company's market value afloat, Charles Gasparino writes. |
Howard Adler, The Hill In the Financial Stability Oversight Council, the U.S. government has an already-existing entity to coordinate the efforts of the financial regulatory agencies to meet threats to financial stability. |
Seth Karp & Greg Segal, THC In the more than 35 years since federal legislation created organ procurement organizations (OPOs) to recover organs from deceased donors for transplantation, there has been a disparity in their performance,... |
Daniel Kern & Renee Kwok, TFC Financial Management |
Brent Orrell & Daniel Cox, American Enterprise Institute The June 2021 American Perspectives Survey (APS) finds that people's work arrangements and preferences, unemployment experiences, and career aspirations are changing as workers navigate the new post-pandemic labor market. |
Various, Self Cities in the U.S. with the highest wages for new hires |
Richard Moody, Regions Bank |
Brian Wesbury & Robert Stein, First Trust Advisors |
Victor W. Hwang, Inc. The new rules represent a profound opportunity for new companies. |
Mark Hulbert, MarketWatch Market breadth hasn't been this poor since October 2018 and the start of a 20%-plus decline. |
Larry Swedroe, Alpha Architect A high misery index predicts high future returns. |
John Rekenthaler, Morningstar The outlook for bonds is clearer than that for stocks. |
Eric Boehm, Reason Taxing Americans to punish other countries for having lax environmental rules would be a logistical and bureaucratic nightmare. Democrats are trying to do it anyway. |
Jordan Weissmann, Slate New? Used? The car market may not sort itself out for a while. |
Steve Lohr, New York Times IBM's artificial intelligence was supposed to transform industries and generate riches for the company. Neither has panned out. Now, IBM has settled on a humbler vision for Watson. |
Olivia Solon, NBC News Reports of a tech exodus have been greatly exaggerated |
John Tierney, City Journal Fearmongering from journalists, scientists, and politicians did more harm than the virus. |
Roger Lowenstein, Intrinsic Value What Maine Tells Us About the Labor Shortage |
Ben Carlson, A Wealth Of Common Sense Things are far from perfect now (and they always will be) but you could make the case that our version of the roaring 20s is already here. |
Justin Mikulka, Naked Capitalism The funding for shale production in the US has dried up as moneybags finally realize that there's no profit to be had. |
Michael Johnston, Evergreen Gavekal Investors that have put their faith – and hard-earned dollars – in Chinese growth equities over the past few years can likely relate to this saying as Beijing has unleashed a series of rolling regulatory initiatives aimed at Chinese tech companies. |
Scott Sumner, The Money Illusion I don't expect a recession to occur in the next few years, but recessions are almost impossible to predict. It's more interesting to think about the sort of policy mistakes (were they to occur) that might lead to a recession within a few years. |
Charlie Bilello, Compound Advisors Here are the charts and themes that tell the story of the first six months of 2021. |
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