The investing mistakes you want to avoid as the market sinks — and what to do instead

“I wasn’t going to sell,” he said. “I wasn’t going to buy; I was just kind of looking obsessively.” Dan Ariely, behavioral economist and psychologist. “If we’re going to look at it going up and down, we’re just going to be more miserable,” Ariely said. “Decide what change you want to make, and only then open your portfolio,” Ariely said.


“I wasn’t going to sell,” he said. “I wasn’t going to buy; I was just kind of looking obsessively.” Dan Ariely, behavioral economist and psychologist. “If we’re going to look at it going up and down, we’re just going to be more miserable,” Ariely said. “Decide what change you want to make, and only then open your portfolio,” Ariely said.
The investing mistakes you want to avoid as the market sinks — and what to do instead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-24  Authors: lorie konish
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The investing mistakes you want to avoid as the market sinks — and what to do instead

It’s no secret that today’s markets are uncertain. Between recent triple-digit drops to the Dow Jones Industrial Average and renewed fears of a looming recession, this year’s record run-up on stocks has been put on pause. Whether that’s just a blip or signs of a prolonged downturn is to be determined. In times like these, investors are susceptible to getting swept up by their emotions. Dan Ariely, chief behavioral economist at personal finance app Qapital and professor of behavioral economics at Duke University, said that there are ways to avoid getting caught up — and making investment moves you could regret later.

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Resist the urge to check your portfolio

Watching the stock market can be a roller coaster of emotions. “What happens on the day that it goes up?” Ariely said. “You feel happy. “On the day it goes down, you feel extra miserable.” But the best action to take in this market may sound counterintuitive: Don’t look at your portfolio. Ariely recalled how during the financial crisis, he found himself caught up in checking his accounts more frequently. “I wasn’t going to sell,” he said. “I wasn’t going to buy; I was just kind of looking obsessively.” One Friday morning, he noticed he was consumed with checking his investments. And that put him in a bad mood.

Dan Ariely, behavioral economist and psychologist. Photo: Mary R.

To change that, he locked himself out of his accounts, and then enjoyed the weekend with his wife. “If we’re going to look at it going up and down, we’re just going to be more miserable,” Ariely said. “We’re not only going to be more miserable, but act on it.” Those panicked decisions based on emotions often lead to regrets later, he said. Of course, there are times when you have to log in. The key is to be intentional when you do. “Decide what change you want to make, and only then open your portfolio,” Ariely said. “It’s never a good idea to open up your portfolio for fun and then decide what to do.”

Use caution when making decisions about the future


Company: cnbc, Activity: cnbc, Date: 2019-08-24  Authors: lorie konish
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IMF chief economist says it’s getting harder to find bright spots in the global economy

The outlook for the global economy keeps getting bleaker, the chief economist at the International Monetary Fund said Friday. “As the year is progressing, it’s getting harder to find those bright spots,” Gita Gopinath told CNBC’s Steve Liesman. “There was the potential of recovery, and we’re still expecting that for many parts of the world … but I’ve got to admit it’s getting harder to see that.” One of the risks we keep flagging is risks on the trade front,” Gopinath said. “The developments tha


The outlook for the global economy keeps getting bleaker, the chief economist at the International Monetary Fund said Friday. “As the year is progressing, it’s getting harder to find those bright spots,” Gita Gopinath told CNBC’s Steve Liesman. “There was the potential of recovery, and we’re still expecting that for many parts of the world … but I’ve got to admit it’s getting harder to see that.” One of the risks we keep flagging is risks on the trade front,” Gopinath said. “The developments tha
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: fred imbert
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IMF chief economist says it's getting harder to find bright spots in the global economy

The outlook for the global economy keeps getting bleaker, the chief economist at the International Monetary Fund said Friday.

“As the year is progressing, it’s getting harder to find those bright spots,” Gita Gopinath told CNBC’s Steve Liesman. “There was the potential of recovery, and we’re still expecting that for many parts of the world … but I’ve got to admit it’s getting harder to see that.”

Gopinath’s comments come as economic growth overseas has slowed down. In Germany, the manufacturing sector is contracting. Meanwhile, China’s economy grew at its slowest pace in 27 years in the previous quarter.

The slowdown is taking place as China and the U.S. wage a trade war against each other.

China unveiled on Friday a series of tariffs targeting $75 billion in U.S. products. U.S. autos are among the goods being targeted. President Donald Trump escalated the already tense situation by ordering U.S. companies to move their operations out of China.

“Global growth is subdued, and we describe it as fragile. There are many downside risks. One of the risks we keep flagging is risks on the trade front,” Gopinath said. “The developments that we’re seeing as recently as today give us great concern about what’s going to happen to growth going forward.”

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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: fred imbert
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Former OMB director: Halt in US consumer spending would bring recession

Consumers make up roughly 70% of the U.S. economy, which means they’re becoming increasingly important amid fears of a new recession. While retail sales are up and retail earnings have done well in the past quarter, consumer spending can weaken from volatile market conditions. Nussle agreed with other economists and retail watchers that “70% … of the economic force in our country” is tied to U.S. consumers and consumer spending. “They see the costs going up because of the trade war. The costs


Consumers make up roughly 70% of the U.S. economy, which means they’re becoming increasingly important amid fears of a new recession. While retail sales are up and retail earnings have done well in the past quarter, consumer spending can weaken from volatile market conditions. Nussle agreed with other economists and retail watchers that “70% … of the economic force in our country” is tied to U.S. consumers and consumer spending. “They see the costs going up because of the trade war. The costs
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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jasmine kim, courtney reagan
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Former OMB director: Halt in US consumer spending would bring recession

Jim Nussle, a former director of the Office of Management and Budget, told CNBC’s “Closing Bell ” on Wednesday that a strong U.S. consumer is the only thing keeping the country from a recession.

“I see [the trade war] as a leading indicator of the concern from the consumers, and if they decide that they’re going to pull out of the market, they decide they’re going to stop spending, that will force us, as quickly as anything, into a recession,” said Nussle, CEO of the Credit Union National Association.

Consumers make up roughly 70% of the U.S. economy, which means they’re becoming increasingly important amid fears of a new recession. Diane Swonk, chief economist at Grant Thornton, told CNBC last week that “the consumer has played Atlas, carrying the economy, and it can do that, but the muscles come from job gains and wages.”

While retail sales are up and retail earnings have done well in the past quarter, consumer spending can weaken from volatile market conditions.

According to a report released last week, the U.S. consumer sentiment index fell to 92.1 in August, hitting the lowest indicator readout in 2019. Economists surveyed by Refinitiv estimated that the preliminary read on August consumer sentiment would reach 97, still down from 98.4 in July.

Nussle agreed with other economists and retail watchers that “70% … of the economic force in our country” is tied to U.S. consumers and consumer spending.

“[Consumers] are worried about their future, whether it’s their job, living paycheck to paycheck,” Nussle said. “They see the costs going up because of the trade war. There is some uncertainty as we talk about recession’s coming. The costs going up … makes them start worrying about whether or not they’re going to be able to make ends meet.”

The curve between the 2-year note and the 10-year note flattened on Wednesday after the Fed released minutes of its last meeting in July. Then the briefly fell below the , sending a second recession warning since last week.


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jasmine kim, courtney reagan
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‘American Ninja Warrior’ host Akbar Gbajabiamila reveals his winning financial game plan

Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money. It began to formulate when he was playing football and is still key to his success today. “The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. An


Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money. It began to formulate when he was playing football and is still key to his success today. “The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. An
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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: michelle fox
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'American Ninja Warrior' host Akbar Gbajabiamila reveals his winning financial game plan

Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money.

It began to formulate when he was playing football and is still key to his success today.

“The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “People who can keep me honest with my financial goals.”

It’s also being able to answer the question, “Why?”

“Why is it that I want to change my financial status? Why do I want to grow my money?” he said.

“If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. And having that team to keep you honest, to me, that right there is a game plan.”


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: michelle fox
Keywords: news, cnbc, companies, honest, warrior, reveals, answer, ninja, gbajabiamila, plan, american, financial, question, game, going, winning, youre, host


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Kyle Bass says US interest rates will follow the rest of the world to zero — ‘This is insane’

Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday. Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global


Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday. Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global
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Kyle Bass says US interest rates will follow the rest of the world to zero — 'This is insane'

Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero.

“We’re the only country that has an integer in front of our bond yields. We have 90% of the world’s investment-grade debt. We actually have rule of law and we have a decent economy. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday.

Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global debt trades with a negative rate. Germany and France’s respective 10-year yields are in negative territory along with Japan’s benchmark rate. China has also implemented stimulative measures to mitigate slowing economic growth.

“This is insane. The Japanese are going to keep going. The Chinese print money like it’s a national pastime today. Europe is going to restart QE,” Bass said. “QE” refers to quantitative easing, a monetary stimulus tool used by central banks.

In the U.S., the Federal Reserve cut interest rates by 25 basis points last month, citing “global developments” and “muted inflation.” Market expectations for lower rates in September are also at 100%, according to the CME Group’s FedWatch tool.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: fred imbert
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Dow drops for the first time in 4 days—here’s what experts see ahead for markets

The move leaves investors and experts broadly uncertain about what’s next for global markets, with key Federal Reserve announcements set for this week and U.S.-China trade talks still ahead. Since then, you’ve had another 90% downside day on Aug.14, and you’ve had two almost 90% upside days. The market might be a little bit ahead of itself on a very short-term trading basis, but, again, I think the market’s going substantially higher.” But for right now, rising valuations on low interest rates,


The move leaves investors and experts broadly uncertain about what’s next for global markets, with key Federal Reserve announcements set for this week and U.S.-China trade talks still ahead. Since then, you’ve had another 90% downside day on Aug.14, and you’ve had two almost 90% upside days. The market might be a little bit ahead of itself on a very short-term trading basis, but, again, I think the market’s going substantially higher.” But for right now, rising valuations on low interest rates,
Dow drops for the first time in 4 days—here’s what experts see ahead for markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lizzy gurdus
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Dow drops for the first time in 4 days—here's what experts see ahead for markets

Stocks are in limbo.

The Dow Jones Industrial Average fell for the first time in four days on Tuesday as the market digested its recent swings, with the S&P 500 and Nasdaq Composite also ticking lower.

The move leaves investors and experts broadly uncertain about what’s next for global markets, with key Federal Reserve announcements set for this week and U.S.-China trade talks still ahead.

Here’s what four market pros are watching:

Jeff Saut, market strategist at Capital Wealth Planning, didn’t let last week’s volatility shake his bullish outlook:

“I think we’re in the sixth inning. I think this market, the secular bull market that we’re in, … has years left to run, and I think that you should be pretty much fully invested here. It was about three weeks ago … that I said, ‘The market bottomed yesterday,’ and that was Aug. 5, with a 90% downside day, meaning 90% of the total volume traded came in on the downside. Since then, you’ve had another 90% downside day on Aug.14, and you’ve had two almost 90% upside days. That … is the way bottoms are made, so we think the lows are in. The market might be a little bit ahead of itself on a very short-term trading basis, but, again, I think the market’s going substantially higher.”

Michael Tyler, Eastern Bank Wealth Management’s chief investment officer, was more inclined to wait for the outcome of U.S.-China trade discussions:

“The interesting thing is that earnings are beginning to come in a little bit soft and we do have some signs that, if the next round of tariffs is implemented, a little in September and perhaps more in December depending on how the politics goes, that could really, meaningfully impact the consumer. Home Depot gave us a tiny touch of that this morning. And, if so, then we’ve got some real vulnerability, because the consumer has been the driving force for so long, and if that weakens, if consumers weaken, then we could have a fundamental problem. But for right now, rising valuations on low interest rates, even if earnings are a bit soft, I’d say Jeff is right: The market’s probably got a little bit more, at least a little bit more, to go this year. ”

Former Minneapolis Fed President Narayana Kocherlakota warned of a debilitating “fear factor” weighing on global markets:

“I think the concern that you see in bond markets about the future is really tied to the lack of policy capacity that we have in central banks, that we’re going to see these downside shocks and central banks and the fiscal authorities are not going to be able to respond effectively. And that’s going to lead to another recession, perhaps of the magnitude we saw in — hopefully not, but could lead to a recession the kind of magnitude we saw in 2007 to 2009, with those same kind of persistent effects on output. And that’s because it’s the fear itself … of low capacity that breeds the conditions where, actually, central banks can’t respond effectively. So, that’s what worries me, and that’s why I think we have these low nominal rates around the world. … You look at German debt, for example, out to 10 years at negative nominal yields — this is all a fear factor, and we need to have better expectations of growth. I’m not sure where that’s going to come from, though.”

Kirk Hartman, president and global chief investment officer at Wells Fargo Asset Management, said playing today’s market was all but a fool’s errand:

“I think if you try to trade this market, it’s an opportunity to lose money. I think you want to look through the next two months. I think you’re going to see a lot more volatility until the trade dispute settles down, and I think what you want to do is you want to say, ‘I want to own stocks towards the end of the year.’ But I wouldn’t be trading this market here.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lizzy gurdus
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Investing in the strange negative yield world — ‘It’s very hard to wrap your arms around’

That doesn’t mean U.S. Treasury yields will also go negative with the other $15 trillion in negative yielding debt. But some strategists say they could, and at the very least Treasurys should continue to see new low rates as European and other negative yields hit new lows. Yields move opposite price, so in an extremely low yield or negative world, investors hope for price appreciation on instruments where they had once looked for yield. “It’s very hard to wrap your arms around the idea of negati


That doesn’t mean U.S. Treasury yields will also go negative with the other $15 trillion in negative yielding debt. But some strategists say they could, and at the very least Treasurys should continue to see new low rates as European and other negative yields hit new lows. Yields move opposite price, so in an extremely low yield or negative world, investors hope for price appreciation on instruments where they had once looked for yield. “It’s very hard to wrap your arms around the idea of negati
Investing in the strange negative yield world — ‘It’s very hard to wrap your arms around’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: patti domm
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Investing in the strange negative yield world — 'It's very hard to wrap your arms around'

The bond market has entered a financial twilight zone, and at this point, there doesn’t seem to be a smooth way out. For the last several weeks, investors have been watching a swift move lower in global bond yields — with the amount of negative yielding debt increasing to the point where it now equals nearly a third of tradeable bonds worldwide, according to J.P. Morgan. Investors have jumped into the safety of bonds, amid worries the global economy is slowing and that the trade wars will take a bigger toll on growth. Yields are also cascading lower, as global central banks rush to cut interest rates, a factor feeding the downward spiral in yields.

That doesn’t mean U.S. Treasury yields will also go negative with the other $15 trillion in negative yielding debt. But some strategists say they could, and at the very least Treasurys should continue to see new low rates as European and other negative yields hit new lows. Yields move opposite price, so in an extremely low yield or negative world, investors hope for price appreciation on instruments where they had once looked for yield. “It’s very depressing…Just think about it as a saver or investor,” said Michael Schumacher, director rates at Wells Fargo. “It’s very hard to wrap your arms around the idea of negative yields. It doesn’t really sit well…It’s terrible for the financial system. Look how European banks have done for the last six, seven years—very poorly.” As rates drop around the world, the U.S. has become an even more attractive market, for the remaining yield it has and the fact the economy is growing. Contrast that to Germany where its economy is shrinking and the 10-year bund is yielding a negative 0.69%, compared to the U.S. 10-year yield, at 1.54%.

Disorderly and painful

Strategists say the reversal of the bond market trade could be disorderly and painful if it happens quickly. J.P. Morgan strategists point out that four countries — Denmark, Germany, Netherlands and Finland — now have negative yields across their full spectrum of rates. “In our conversations with clients, the experiments of central banks with negative rates are viewed more as a policy mistake rather than stimulus and create a sense of an abnormal and uncertain environment that damages not only banks but also consumer and business confidence,” the J.P. Morgan strategists wrote. The Federal Reserve is expected to cut rates again in September and possibly later, triggering lower interest rates around the world. The differentials between global interest rates is putting pressure on currency moves. “I think the momentum trade is basically saying to the Fed: ‘You’re falling behind the curve.’ The Fed does need to keep up with what’s going on in global markets. The one barometer we have to look at, to make it simple, is the dollar. The stronger the dollar gets, the more negative it is for the global economy,” said Jim Caron, portfolio manager at Morgan Stanley Investment Management. “A lot of the world’s debt is in dollars. The slower the Fed goes, the stronger the dollar gets.” Caron said investors continue to buy bonds for performance, and they are finding it as rates continue to drop. “People are getting socialized to lower yields…It’s bizarre,” said Caron. “It could definitely stay like that for awhile.”

Positioning in the bond market has become so extreme that the rules are being thrown out, and the spiral lower is feeding on itself. U.S. yields are going down as investors that need to hold long term securities move into the long end of the Treasury curve. “I think the main driver right now is basically the lack of foreign yields…Tomorrow, Germany is going to issue a 30-year bond. It’s going to have a zero coupon, but it’s probably going to come at a premium,” said Hans Mikkelsen, head of investment grade corporate strategy at Bank of America Merrill Lynch. “The existing 30-year debt is trading at negative 0.18%.”

‘Self reinforcing’


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: patti domm
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Why a college education might not be critical for your career

baona | E+ | Getty ImagesGetting a college degree may no longer be significant for people’s careers, according to an expert in the education sector. Speaking to CNBC’s “Street Signs Europe” on Monday, John Fallon, CEO of education company Pearson, said shifting career expectations and longer life expectancies were reducing the importance of receiving a college education. Pearson, the world’s largest education publisher, creates educational content and assessments and operates in 70 countries. “T


baona | E+ | Getty ImagesGetting a college degree may no longer be significant for people’s careers, according to an expert in the education sector. Speaking to CNBC’s “Street Signs Europe” on Monday, John Fallon, CEO of education company Pearson, said shifting career expectations and longer life expectancies were reducing the importance of receiving a college education. Pearson, the world’s largest education publisher, creates educational content and assessments and operates in 70 countries. “T
Why a college education might not be critical for your career Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: chloe taylor
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Why a college education might not be critical for your career

Shot of graduation caps during commencement. baona | E+ | Getty Images

Getting a college degree may no longer be significant for people’s careers, according to an expert in the education sector. Speaking to CNBC’s “Street Signs Europe” on Monday, John Fallon, CEO of education company Pearson, said shifting career expectations and longer life expectancies were reducing the importance of receiving a college education. “Think about this, if you’re an 18-year-old leaving high school this year, there’s more than a 50% chance that you will live to be over 100,” he said. “That means you’re going to be working well into your seventies or eighties, and through that time you’re likely to have five or six different careers — so this idea that what you do in high school, going onto university between the ages of 20 and 22, is going to define you for life is no longer going to exist, because you’re going to have to relearn, reskill, (and) retrain throughout your working life.” Pearson, the world’s largest education publisher, creates educational content and assessments and operates in 70 countries. The company announced last month that all new releases of its 1,500 titles in the U.S. would be “digital first.”

Fallon told CNBC that attitudes toward education and careers were being changed by the fact that younger generations had grown up in a “digital-first world.” “They don’t want to spend a fortune on higher education only to find it’s not relevant to their needs in the working world,” he said. “The reality is that we’re always going to be learning throughout our lives.” Figures suggest that young people are increasingly considering alternative paths to higher education. The National Student Clearinghouse Research Center’s statistics show that overall, post-secondary education enrollments in the U.S. saw a year-over-year decrease of 1.7% in Spring 2019. The data also showed that enrollments at four-year public and private institutions declined from the previous year. Meanwhile, a poll of nearly 3,000 British school pupils published this month found 20% of young people up to the age of 16 did not think it was important to go to university. Market research firm Ipsos Mori also found that young people felt knowing the right people was more important than getting a degree. However, Fallon said universities could make themselves more relevant by publicizing the fact that they were training students in important life skills that could not be automated. “(We’re monitoring) the skills that are least disruptable by technology and the hardest for machines to automate or mimic,” he told CNBC. “Those (skills) are learning how to learn, fluency of ideas — the ability to be creative and come up with lots of different things — the ability to persuade somebody of a different point of view, the ability to teach somebody how to do something, the ability to lead, the ability to empathize, (and) to care for somebody.”


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: chloe taylor
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Fed’s Powell must signal a more aggressive stance on rates at Jackson Hole or stocks will tumble, James Bianco warns

Federal Reserve chief Jerome Powell will deliver opening remarks at the Jackson Hole Economic Policy Symposium on Thursday. If Powell doesn’t address the stock market’s wild swings and recent bearish bond yield inversion, market researcher James Bianco warns the reaction will be violent. “Powell should probably open the door for the possibility of a 50 basis point cut at the September meeting.” It wouldn’t be unprecedented for Powell to try to calm the market during his Jackson Hole welcome spee


Federal Reserve chief Jerome Powell will deliver opening remarks at the Jackson Hole Economic Policy Symposium on Thursday. If Powell doesn’t address the stock market’s wild swings and recent bearish bond yield inversion, market researcher James Bianco warns the reaction will be violent. “Powell should probably open the door for the possibility of a 50 basis point cut at the September meeting.” It wouldn’t be unprecedented for Powell to try to calm the market during his Jackson Hole welcome spee
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Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: stephanie landsman, michael affigne
Keywords: news, cnbc, companies, jackson, markets, cut, signal, powell, james, basis, welcome, worst, stance, market, bianco, hole, yield, going, warns, stocks, tumble, rates


Fed's Powell must signal a more aggressive stance on rates at Jackson Hole or stocks will tumble, James Bianco warns

Wall Street’s next make or break moment for stocks may come from 2,000 miles away.

Federal Reserve chief Jerome Powell will deliver opening remarks at the Jackson Hole Economic Policy Symposium on Thursday.

If Powell doesn’t address the stock market’s wild swings and recent bearish bond yield inversion, market researcher James Bianco warns the reaction will be violent.

“We could see another plunge in rates. We could see further movement down in yields and the yield curve and more volatility and problems in the markets. He should move aggressively,” the Bianco Research president said Friday on CNBC’s “Trading Nation. ”

Despite Friday’s strong rally, the major indexes still saw their third negative week in a row. The Dow, S&P 500 and Nasdaq are now at least 5% below their all-time highs.

Last week’s stock market turmoil was in response to the 10-year Treasury yield breaking below the 2-year rate for the first time since 2007. It’s often seen as a harbinger of a recession.

According to Bianco, the Street is desperately looking for a sign that a deep cut is coming because U.S. rates are too high in relationship with other developing nations in the throes of economic slowdowns.

“We’re the only place on the planet now you can get more than a 2% yield among developed countries,” Bianco said. “Powell should probably open the door for the possibility of a 50 basis point cut at the September meeting.”

It wouldn’t be unprecedented for Powell to try to calm the market during his Jackson Hole welcome speech. He soothed the Street in early January and June in opening remarks at events by signaling the Fed would act more accomodative.

Bianco hopes Powell does it again, adding it would be a big mistake for him to generically welcome attendees to the conference and avoid the market’s issues.

“That could be the worst thing,” he said. “The next worst thing is he makes comments that are interpreted as ‘we’re only going to move 25 basis points. Then, we’re going to wait and see if we’re going to move some more.’ The market rolls its eyes and says ‘you’re not getting it. We want you to move faster.'”

For now, Bianco is holding out for the best case scenario, and that’s an indication a sizable cut is coming in the next month.

“If he does move more aggressively with a 50 basis point cut, I think the market will respond most positive to that,” Bianco said.


Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: stephanie landsman, michael affigne
Keywords: news, cnbc, companies, jackson, markets, cut, signal, powell, james, basis, welcome, worst, stance, market, bianco, hole, yield, going, warns, stocks, tumble, rates


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WeWork doesn’t have a single woman director, according to IPO filing

It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. As of last month, every S&P 500 company had at least one female director on its board. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO. In the first half of the year, 13 wo


It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. As of last month, every S&P 500 company had at least one female director on its board. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO. In the first half of the year, 13 wo
WeWork doesn’t have a single woman director, according to IPO filing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: leslie picker deirdre bosa, leslie picker, deirdre bosa
Keywords: news, cnbc, companies, woman, doesnt, wework, investors, public, company, companies, filing, director, allmale, women, billion, according, ipo, single, going, board


WeWork doesn't have a single woman director, according to IPO filing

Signage is seen at the entrance of the WeWork offices on Broad Street in New York.

It’s 2019, and a $47 billion company is going public with an all-male board of directors.

WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. Among the seven members, not a single one is female. The company was most-recently valued privately at $47 billion although it’s unclear if they’ll receive the same price tag from the public markets.

As of last month, every S&P 500 company had at least one female director on its board. It’s become a more-prominent issue in recent years as major investors, such as BlackRock and State Street, have pushed back against companies with all-male directors. Having a more-diverse board is seen as an avenue toward better shareholder returns.

In several weeks, WeWork is expected to launch a roadshow where it will meet with investors and seek to drum up support for what’s likely going to be a multi-billion-dollar stock sale. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO.

WeWork declined to comment on the makeup of its board of directors.

WeWork does have several women in management positions. Rebekah Neumann — the co-founder and wife of Adam Newmann, the CEO — serves as chief brand and impact officer. And Jennfer Berrent is the co-president and chief legal officer.

Adam Neumann serves as chairman of the board. WeWork’s board also includes Bruce Dunlevie, a founding partner of Benchmark Capital, as well as Ronald Fisher, vice chairman of SoftBank, two of the company’s largest investors. Other members include Lewis Frankfort, Steven Langman, Mark Schwartz and John Zhao.

WeWork has a triple-class share structure and will be a controlled company, making it difficult for an outside investor to wage a proxy contest that would alter the makeup of the board.

Amid a boom in initial public offerings in 2019, women have been gaining ground in the C-Suite. In the first half of the year, 13 women CEOs have taken companies public, representing about 15 percent of the total IPOs over that period. That’s the highest proportion of any year going back to at least 2014, an analysis by CNBC found.

Historically, women were more absent from the boardrooms of companies making their debuts. A study released last month by 2020 Women on Boards found that 37 percent of the 75 largest IPOs from 2014 to 2016 debuted with all-male boards. But in the last few years, it’s become a much less common occurrence, especially among larger private companies that have waited far longer to go public.

WeWork disclosed its prospectus after being on file confidentially. The company is aiming for a debut in September, people with knowledge of the timeline said.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: leslie picker deirdre bosa, leslie picker, deirdre bosa
Keywords: news, cnbc, companies, woman, doesnt, wework, investors, public, company, companies, filing, director, allmale, women, billion, according, ipo, single, going, board


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