Goldman Sachs Earnings Q3 2019 miss estimates

Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate. The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said. Trading revenue modestly exceeded expectations: Equities trading desks produced


Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate. The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said. Trading revenue modestly exceeded expectations: Equities trading desks produced
Goldman Sachs Earnings Q3 2019 miss estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: hugh son
Keywords: news, cnbc, companies, goldman, 2019, quarter, investing, revenue, estimates, sachs, bank, billion, holdings, miss, earnings, banks, trading


Goldman Sachs Earnings Q3 2019 miss estimates

Goldman Sachs shares fell Tuesday after the firm reported third-quarter profit below Wall Street expectations.

The bank said profit slumped 26% to $1.88 billion, or $4.79 a share, below the $4.81 expected by analysts, according to Refinitiv. Revenue fell 6% to $8.32 billion, slightly above the $8.31 billion expected, on lower results in the firm’s investing and lending and investment banking divisions. The firm also set aside $291 million for credit losses in the quarter, 67% higher than a year earlier.

Goldman shares declined by 3.3%.

Chief Executive Officer David Solomon has been at the helm of Goldman Sachs for a full year, but it’s clear that the bank is still a work in progress.

“Our results through the third quarter reflect the underlying strength of our global client franchise and its ability to produce solid results in the context of a mixed operating environment,” Solomon said in the earnings release. “We continue to execute on our strategic priorities, including investing in important growth opportunities in our existing and new businesses.”

Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate.

The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said.

Trading revenue modestly exceeded expectations: Equities trading desks produced $1.88 billion, exceeding the $1.79 billion estimate of analysts surveyed by FactSet. Bond trading generated $1.41 billion in revenue, above the $1.36 billion estimate.

Investment banking produced $1.69 billion in revenue, just under the $1.72 billion estimate. Investment management matched the $1.67 billion estimate.

One of Solomon’s key initiatives since taking over in October 2018 — an internal review of the bank’s operations — has sparked departures among several longtime Goldman partners, including trading head Marty Chavez and chief information officer Elisha Wiesel.

The review, meant to boost shareholder returns at the New York-based bank, has also taken longer than initially promised, sowing impatience among investors eager for a resurgence at Goldman. The 150-year-old investment bank is plowing money into new ventures including retail banking and corporate cash management to diversify from its traditional strengths in Wall Street trading, which has been mired in the industry’s multiyear slowdown.

Another area that investors will scrutinize is the bank’s holdings in WeWork and other stakes that lost value in the third quarter. The bank could post a $264 million writedown on its holdings in WeWork, Morgan Stanley analyst Betsy Graseck said in a research note.

While the bank’s investing and lending division, where private equity stakes and public holdings are reported, has helped it beat analysts’ profit estimates in previous quarters, investors may complain that it’s a source of earnings volatility in declining markets.

Other big banks also posted earnings on Tuesday. J.P. Morgan Chase reported record revenue and Citigroup beat earnings estimates.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: hugh son
Keywords: news, cnbc, companies, goldman, 2019, quarter, investing, revenue, estimates, sachs, bank, billion, holdings, miss, earnings, banks, trading


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We’d be happy to take exposure to Britain’s pound: Standard Chartered

We’d be happy to take exposure to Britain’s pound: Standard Chartered3 Hours AgoManpreet Gill of Standard Chartered Bank says the risk-reward for investing in the pound sterling is still “quite attractive.”


We’d be happy to take exposure to Britain’s pound: Standard Chartered3 Hours AgoManpreet Gill of Standard Chartered Bank says the risk-reward for investing in the pound sterling is still “quite attractive.”
We’d be happy to take exposure to Britain’s pound: Standard Chartered Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14
Keywords: news, cnbc, companies, exposure, gill, investing, chartered, happy, standard, hours, pound, sterling, britains, quite, riskreward


We'd be happy to take exposure to Britain's pound: Standard Chartered

We’d be happy to take exposure to Britain’s pound: Standard Chartered

3 Hours Ago

Manpreet Gill of Standard Chartered Bank says the risk-reward for investing in the pound sterling is still “quite attractive.”


Company: cnbc, Activity: cnbc, Date: 2019-10-14
Keywords: news, cnbc, companies, exposure, gill, investing, chartered, happy, standard, hours, pound, sterling, britains, quite, riskreward


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Vague US-China deal fails to ‘clear the air’ for companies to start spending and investing again

While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.” Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more


While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.” Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more
Vague US-China deal fails to ‘clear the air’ for companies to start spending and investing again Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, early, investing, deal, companies, clear, spending, start, round, vague, told, tariffs, chinese, uschina, president, air, fails, trade, phase, suisse


Vague US-China deal fails to 'clear the air' for companies to start spending and investing again

While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance.

Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.”

“Overall, we don’t think this Phase 1 deal clears the air for global corporations to decide on what matters most – where to invest, produce, hire or source,” Evercore said in a note to investors.

China’s trade negotiators want to meet for more talks in the next couple of weeks, people familiar with the matter told CNBC’s Kayla Tausche on Monday. Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more detail.

Credit Suisse doubts this “mini-deal” will lead to the end of the U.S. trade war with China, saying it sees “daunting obstacles” to a full resolution. But Credit Suisse does see some good news in the early agreement.

“We believe it sets a floor for markets for at least the next 1-2 months,” Credit Suisse analysts Dan Fineman and Kin Nang Chik said.

Goldman Sachs chief economist Jan Hatzius told investors that, although the scope of the early agreement “looks roughly as expected,” the U.S. has yet to announce a decision regarding the Dec. 15 increased tariffs on Chinese goods. The Dec. 15 tariffs will be part of the next round of negotiations.

“At this point we continue to expect implementation of that tariff round … though likely with a delay into early 2020,” Hatzius said.

Treasury Secretary Steven Mnuchin told CNBC on Monday that if China doesn’t sign the phase one of the deal, then the tariffs scheduled for December will take effect.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, early, investing, deal, companies, clear, spending, start, round, vague, told, tariffs, chinese, uschina, president, air, fails, trade, phase, suisse


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Author Ryan Holiday: How ‘stillness’ can help you become a better investor

But developing a sense of “stillness” may help you do it, says author Ryan Holiday. Being disciplined, even-keeled, and less emotional about your money can help with investing, too. One role model in investing stillness: Legendary investor Warren Buffett, who has called the stock market “a device for transferring money from the impatient to the patient.” Buffett “has to be really patient, which requires stillness,” Holiday says. Ryan Holiday Author, ‘Stillness Is the Key’Putting your finances on


But developing a sense of “stillness” may help you do it, says author Ryan Holiday. Being disciplined, even-keeled, and less emotional about your money can help with investing, too. One role model in investing stillness: Legendary investor Warren Buffett, who has called the stock market “a device for transferring money from the impatient to the patient.” Buffett “has to be really patient, which requires stillness,” Holiday says. Ryan Holiday Author, ‘Stillness Is the Key’Putting your finances on
Author Ryan Holiday: How ‘stillness’ can help you become a better investor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-12  Authors: sam becker, ramit sethi, anna-louise jackson
Keywords: news, cnbc, companies, sense, market, author, holiday, better, things, requires, investor, help, stillness, ryan, investing, emotional, investment


Author Ryan Holiday: How 'stillness' can help you become a better investor

Staying focused on your investment goals while ignoring the ups and downs of the market isn’t easy. But developing a sense of “stillness” may help you do it, says author Ryan Holiday. Holiday’s new book, “Stillness Is the Key,” highlights how numerous historical figures — including JFK, Johnny Cash, and Leonardo da Vinci — used a strategic sense of patience, among other things, to achieve their goals. Being disciplined, even-keeled, and less emotional about your money can help with investing, too. “We know that the best investment strategy is long term. It’s indifferent to the day-to-day fluctuations of the market. It’s not emotional. It’s logical. It’s value-based,” Holiday tells Grow. The most dangerous aspect of investing, he says, is that investors “get way too excited when things are good. This is where bubbles and irrational exuberance comes from.”

One role model in investing stillness: Legendary investor Warren Buffett, who has called the stock market “a device for transferring money from the impatient to the patient.” Buffett “has to be really patient, which requires stillness,” Holiday says. “It requires him to see things that other people don’t see. It requires him to be wrong for extended periods of time, until he’s proven right.” Developing a sense of stillness and discipline like Buffett’s takes practice. Here are two ways you can strengthen this attribute as an investor:

Take emotion out of investment decisions

Feelings, both good and bad, can cause investors to make rash decisions. The goal is “not being jerked around by your emotions,” Holiday says, and “having some semblance of self-control.” In practice, this means that you don’t panic if the markets start to fall — and you don’t get giddy if they continue to climb. You try to keep your head down and stick to your plan, no matter what’s going on in the news.

We know that the best investment strategy is long term: It’s indifferent to the day-to-day fluctuations of the market. It’s not emotional. It’s logical. Ryan Holiday Author, ‘Stillness Is the Key’

Putting your finances on autopilot can help you take the emotion out of your investing decisions. Setting up recurring contributions to your investment or retirement accounts can keep you consistent and ensure that you’re benefiting from dollar-cost averaging, too. You can also work on building up your emergency fund and even try writing yourself a motivation letter to help you keep a steady emotional state when the markets get bumpy.

Limit how frequently you monitor your portfolio


Company: cnbc, Activity: cnbc, Date: 2019-10-12  Authors: sam becker, ramit sethi, anna-louise jackson
Keywords: news, cnbc, companies, sense, market, author, holiday, better, things, requires, investor, help, stillness, ryan, investing, emotional, investment


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Have to be as diversified as possible to withstand Brexit, strategist says

Have to be as diversified as possible to withstand Brexit, strategist says3 Hours AgoRachel Winter, investment manager at Killik & Co, discusses investing ahead of Britain’s withdrawal from the EU.


Have to be as diversified as possible to withstand Brexit, strategist says3 Hours AgoRachel Winter, investment manager at Killik & Co, discusses investing ahead of Britain’s withdrawal from the EU.
Have to be as diversified as possible to withstand Brexit, strategist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, possible, investment, withstand, withdrawal, killik, diversified, says3, strategist, winter, investing, manager, brexit


Have to be as diversified as possible to withstand Brexit, strategist says

Have to be as diversified as possible to withstand Brexit, strategist says

3 Hours Ago

Rachel Winter, investment manager at Killik & Co, discusses investing ahead of Britain’s withdrawal from the EU.


Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, possible, investment, withstand, withdrawal, killik, diversified, says3, strategist, winter, investing, manager, brexit


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Retirement savers moving some money out of stocks, says Fidelity’s personal investing president

Fidelity clients saving for retirement are starting to move some money out of stocks in the recently volatile market, the brokerage’s personal investing president told CNBC on Friday. “More money is going into money market funds.” Assets in U.S. money market funds, seen as being nearly as safe as bank accounts, hit their highest level since 2009, reaching nearly $3.36 trillion last month, according to a private report. “We’ve seen in the last few months that there’s more money on the sidelines,”


Fidelity clients saving for retirement are starting to move some money out of stocks in the recently volatile market, the brokerage’s personal investing president told CNBC on Friday. “More money is going into money market funds.” Assets in U.S. money market funds, seen as being nearly as safe as bank accounts, hit their highest level since 2009, reaching nearly $3.36 trillion last month, according to a private report. “We’ve seen in the last few months that there’s more money on the sidelines,”
Retirement savers moving some money out of stocks, says Fidelity’s personal investing president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, money, president, fidelitys, trade, volatility, trades, stocks, personal, murphy, savers, theres, moving, market, investing, retirement, funds, seen


Retirement savers moving some money out of stocks, says Fidelity's personal investing president

Fidelity clients saving for retirement are starting to move some money out of stocks in the recently volatile market, the brokerage’s personal investing president told CNBC on Friday.

“The average investor that doesn’t trade a lot that’s really looking to save for their retirement — we have millions of customers like that — we’ve seen in the last few months that there’s more money on the sidelines,” Fidelity’s Kathleen Murphy said. “More money is going into money market funds.”

Assets in U.S. money market funds, seen as being nearly as safe as bank accounts, hit their highest level since 2009, reaching nearly $3.36 trillion last month, according to a private report.

The shift comes during a “roller coaster” year for the market that’s seen dramatic drops and rises as global economic uncertainty spreads and the U.S.-China trade war drags on, Murphy added.

U.S. stock futures were pointing to a sharply higher Friday open on Wall Street, with President Donald Trump casting a positive view on the China trade talks. Earlier this week, stocks were on an unsure path following both positive and negative reports ahead of the talks.

“We’ve seen in the last few months that there’s more money on the sidelines,” Murphy said. “I think people are trying, they are staying the course, which is great. They’re not panicking. But I think they are in a little bit of a wait and see mode.”

However, the opposite holds true for active traders, added Murphy, saying they “lean into” the volatility and trade more. “When there’s volatility in the market, they get busy trading,” she said of Fidelity’s “more active investors.”

Fidelity Investments on Thursday announced that it’s offering zero-commission online trades as the brokerage industry moves toward low-fee systems.

The company eliminated commissions on all of its trades involving stocks, options and exchange-traded funds. The news follows Charles Schwab, E-Trade, TD Ameritrade and Interactive Brokers, which all announced similar moves.

Murphy said Fidelity won’t sell clients’ stock trade information to hedge funds to make up for offering zero fees.


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, money, president, fidelitys, trade, volatility, trades, stocks, personal, murphy, savers, theres, moving, market, investing, retirement, funds, seen


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‘Million Dollar Listing’ star Ryan Serhant: The best piece of investing advice I ever got

Real estate broker Ryan Serhant, star of the Bravo series “Million Dollar Listing” and “Sell It Like Serhant,” knows a thing or two about money — he spends his time selling high-end real estate to some of the richest people in the world, after all. Serhant’s investing advice: ‘Invest in things you know’The best piece of investment advice I was ever given was to invest in things you know. And that includes investing in technology, investing in people who are inventors and creating things — both p


Real estate broker Ryan Serhant, star of the Bravo series “Million Dollar Listing” and “Sell It Like Serhant,” knows a thing or two about money — he spends his time selling high-end real estate to some of the richest people in the world, after all. Serhant’s investing advice: ‘Invest in things you know’The best piece of investment advice I was ever given was to invest in things you know. And that includes investing in technology, investing in people who are inventors and creating things — both p
‘Million Dollar Listing’ star Ryan Serhant: The best piece of investing advice I ever got Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, star, investing, advice, listing, serhant, piece, dollar, invest, youre, million, best, real, things, ryan, really, estate, actually, going


'Million Dollar Listing' star Ryan Serhant: The best piece of investing advice I ever got

Real estate broker Ryan Serhant, star of the Bravo series “Million Dollar Listing” and “Sell It Like Serhant,” knows a thing or two about money — he spends his time selling high-end real estate to some of the richest people in the world, after all. But when it comes to his own money, he’s fairly conservative. He saves a lot, and he knows the value of a dollar. When it comes to investing, he sticks to a pretty simple strategy: Invest in what you know. Serhant recently sat down with the Grow team to discuss the most valuable investing advice he’s received, how he learned about money at a young age, and more. Here is his story, as told to senior reporter Sam Becker.

Serhant’s investing advice: ‘Invest in things you know’

The best piece of investment advice I was ever given was to invest in things you know. Things you use. Things you could see yourself using; things you actually like. Don’t invest in stuff that doesn’t interest you, because then you’re not going to follow up on it. You’re not going to be as active an investor. So, I invest in things or products that I enjoy, use, or think are really interesting. And that includes investing in technology, investing in people who are inventors and creating things — both physical products as well as software — [and] investing in real estate.

When it comes to real estate, I used to really think that to be a wise investor, you have to invest what you actually have to spend, so don’t spend more than you can afford. But I’ve found that to be incorrect. The best investments I’ve made are the ones that actually push me outside of my comfort level. Because you need to work more. You need to do more to actually get a return on this investment. And that’s worked really, really well for me.

‘The best investment I ever made’

The best investment I ever made: I invest in my business all the time. I invested in our YouTube vlog, and I think it’s funny because before I started the vlog on YouTube, everyone thought it was stupid and crazy. Including me. Actually, mostly me. I thought it was dumb. Just another form of social media. I was just sick and tired of it and I had no idea what it was going to do to our business. But it is a massive way of driving business and driving brand awareness. So, by investing the money that I did into the vlog, more people buy my book, more people buy the course, more people reach out to me to buy and sell homes.

Don’t invest in stuff that doesn’t interest you, because then you’re not going to follow up on it. You’re not going to be as active an investor. Ryan Serhant Real estate broker, author, and TV star

How being ‘broke’ led to his real estate career


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, star, investing, advice, listing, serhant, piece, dollar, invest, youre, million, best, real, things, ryan, really, estate, actually, going


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25-year-old tech founder is helping teach everyday Americans how to invest

Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience in


Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience in
25-year-old tech founder is helping teach everyday Americans how to invest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, invest, investing, everyday, rapunzl, gage, founder, stock, app, helping, tech, money, users, school, 25yearold, ariel, teach, americans, financial


25-year-old tech founder is helping teach everyday Americans how to invest

Like a lot of kids, Myles Gage was into sneakers when he was growing up. But his mom suggested an unusual rule: For every pair of Nikes that Gage owned, he should own a share of Nike stock. Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. The platform makes a game out of the markets: Users get $10,000 fictitious dollars to buy and sell stocks, which helps them learn how the markets work and start to experience the excitement and potential benefit of investing. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future.

Learning early to be ‘financially literate’

Gage says his parents made a lot of financial mistakes and they wanted to make sure their kids didn’t follow in their footsteps: “They wanted us to be financially literate and in a position to make better decisions.” That’s partly why Gage’s mother, who worked for the Chicago Parks District, found a way to get him and his brother, Mario, into Ariel Community Academy, a specialized public school for students K-8 with a focus on financial education. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience investing in stocks. Attending Ariel made a huge difference in Gage’s life: “The only reason I know about the stock market is because of Ariel Community Academy,” he says.

The only reason I know about the stock market is because of Ariel Community Academy. Myles Gage CFO, Rapunzl Investments

That knowledge paid off: It helped Gage win a full-ride scholarship to the University of Chicago Laboratory School, a prestigious private high school. “I wrote an essay about how I planned to finance my college tuition. And the main point of that was that I was going to liquidate my stock portfolio,” he says. “I don’t think the judges were expecting a 14-year-old to be talking about liquidating a portfolio, let alone one from the south side of Chicago.”

The origins of Rapunzl

As a high school freshman in 2008, Gage immediately bonded with another student, Brian Curcio. While discussing the stock market and the budding financial crisis, the two came up with the idea of a stock market game, using fictional money, to teach people how the markets work. Over the next few years, the economy recovered. Some investors, who had money to buy stocks when the markets bottomed out, started to see strong returns. Average Americans, however, were often missing out. Gage didn’t think that profits should belong only to a select few, hidden away at the top of a tower like the character of Rapunzel in the 1812 Brothers Grimm fairy tale. Rapunzl the app, Gage and Curcio decided, would make investing accessible. It would give anybody the chance to learn, to figure out how the stock markets work. Then, when users were comfortable, they could actually start investing.

How the app got funded

Through their college years, the two met frequently to refine the concept for Rapunzl. They settled on an idea that would allow users to simulate a stock portfolio without risking real money. But to make their idea come to life, real money is exactly what the two young entrepreneurs needed. So, after graduating in 2016, they organized their ideas and started looking around for seed funding.

Myles Gage with Rapunzl cofounder Brian Curcio. Courtesy Rapunzl Investments LLC

“We put a mini-pitch deck together and shopped it around to our friends and family, and were able to muster up funds to develop a prototype,” Gage says. They hired a Canadian developer who created an early version of the app and made it available for download in April 2017. Around that time, Rapunzl also did another round of fundraising, which netted the company enough money to continue perfecting the platform. Several months later, the founders brought in a third partner, Chris Thomas, as the company’s CTO.

‘Our country needs more innovative approaches like Rapunzl’

To attract users and take aim at their mission of creating a new generation of confident, financially literate investors, Gage and the team headed back to school — literally. Rapunzl partnered with the Federal Reserve Bank of Chicago and started sponsoring conferences, plus essay and investing competitions at schools around the Chicago area. The team also met with John Rogers, the chairman and CEO of Ariel Investments — which also funds and sponsors Ariel Community Academy — who agreed to sponsor the competitions and provide prize money. In 2018, Rapunzl was involved in competitions in more than 70 Chicago-area schools, comprising more than 2,000 students.

Our country needs more innovative approaches like Rapunzl that aim to tackle financial illiteracy and close the achievement gap. Arne Duncan Former U.S. Secretary of Education

Rapunzl is building on its success in Chicago schools by expanding. Last year, it sponsored competitions in Los Angeles, Boston, and New York, with plans for more cities next year, and colleges, too. It has even managed to catch the attention of former U.S. Secretary of Education Arne Duncan. “Our country needs more innovative approaches like Rapunzl that aim to tackle financial illiteracy and close the achievement gap,” Duncan said, following an announcement about Rapunzl partnering with investing firm Wedbush. Duncan, who doesn’t have any current connection to the app, did play a role in developing the curriculum at Ariel Community Academy.

The app and its founders hope to make a difference

So far, the Rapunzl team has focused their efforts on generating interest in the platform and getting young users hooked on trading. The app doesn’t currently drive revenue, though, and Gage is hopeful that will change. He says at some point in 2020, the platform will be monetized through affiliate marketing and premium subscriptions.

Courtesy Rapunzl Investments LLC


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, invest, investing, everyday, rapunzl, gage, founder, stock, app, helping, tech, money, users, school, 25yearold, ariel, teach, americans, financial


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Over half of Americans aren’t taking this simple step to grow their wealth

But gender also plays a role — 44% of men report they aren’t investing, compared to 59% of women. Why more Americans aren’t investingWhen it comes to investing, many Americans actually are putting money into the stock market — even if they don’t know it. Collectively, Americans usually say they’re “saving for retirement,” so they may not recognize they’re actually investing. “They never really have to think about what it is they’re investing in,” Lowry says. To combat that she recommends taking


But gender also plays a role — 44% of men report they aren’t investing, compared to 59% of women. Why more Americans aren’t investingWhen it comes to investing, many Americans actually are putting money into the stock market — even if they don’t know it. Collectively, Americans usually say they’re “saving for retirement,” so they may not recognize they’re actually investing. “They never really have to think about what it is they’re investing in,” Lowry says. To combat that she recommends taking
Over half of Americans aren’t taking this simple step to grow their wealth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: megan leonhardt
Keywords: news, cnbc, companies, wealth, market, taking, comes, lowry, grow, americans, simple, investing, step, saving, theyre, youre, arent, half, retirement, money


Over half of Americans aren't taking this simple step to grow their wealth

If you’re stashing your hard-earned money under the mattress, or considering buying gold bars to bury in the backyard, it turns out you’re not alone. Over half of Americans, 55%, say they are not participating in the stock market, according to a new poll from MetLife of over 8,000 U.S. adults over the age of 18. The survey finds that age is definitely a factor. Gen Z (ages 18 to 24) and millennials (defined here as ages 25 to 34) are opting out in far greater numbers than older Americans. But gender also plays a role — 44% of men report they aren’t investing, compared to 59% of women. And men tend to be more likely to invest in some type of mutual or index funds and stocks. Yet when it comes to building long-term wealth, saving alone typically isn’t enough. “One of the most surprising things that people don’t realize about money is saving is not enough,” says Ramit Sethi, the best-selling author of “I Will Teach You to be Rich” Over the long term, the only way to “truly grow that money” is to invest it, Sethi tells CNBC Make It.

Why more Americans aren’t investing

When it comes to investing, many Americans actually are putting money into the stock market — even if they don’t know it. That’s because the money that you put into your retirement accounts, be it a 401(k) or an individual retirement account like a Roth IRA, are typically invested in the market. About a third of respondents to MetLife’s survey said they had a retirement plan. So why the disconnect? We tend to use the “wrong language” when it comes to investing, Erin Lowry, author of “Broke Millennial Takes on Investing,” tells CNBC Make It. Collectively, Americans usually say they’re “saving for retirement,” so they may not recognize they’re actually investing. It also doesn’t help that in many cases, you’re picking a target date fund in your 401(k), rather than choosing specific funds or stocks. “They never really have to think about what it is they’re investing in,” Lowry says. But there are still many Americans who actually aren’t investing at all. Most of the hesitation comes down to fear, Lowry says. “There’s a huge intimidation factor here,” she says. And many times, the so-called experts don’t really help, she adds, saying there’s “almost a flippancy about how intimidating it can be to start investing.” “You’re putting your hard-earned money into something that you might fundamentally not trust,” Lowry says. To combat that she recommends taking the time to read about the history of the market and basic investing principles. It may sound like homework but doing some research will help you understand that markets go through cycles and how to structure your investments to hold up against down swings.

How to get started investing


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: megan leonhardt
Keywords: news, cnbc, companies, wealth, market, taking, comes, lowry, grow, americans, simple, investing, step, saving, theyre, youre, arent, half, retirement, money


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Charles Schwab on what he’s learned in his career spanning six decades: ‘Panic is not a strategy’

Schwab founded an investing newsletter firm in 1963 that would be incorporated in 1971 and officially become Charles Schwab & Co. in 1973. Schwab made efforts to calm investors’ nerves by declaring that “panic is not a strategy.” Countering bad investment decisionsTo counter bad investment decisions (like selling at the bottom), Schwab has been a relentless advocate for financial literacy. Schwab also told me that more financial literacy would involve studying human behavior, and how fears and b


Schwab founded an investing newsletter firm in 1963 that would be incorporated in 1971 and officially become Charles Schwab & Co. in 1973. Schwab made efforts to calm investors’ nerves by declaring that “panic is not a strategy.” Countering bad investment decisionsTo counter bad investment decisions (like selling at the bottom), Schwab has been a relentless advocate for financial literacy. Schwab also told me that more financial literacy would involve studying human behavior, and how fears and b
Charles Schwab on what he’s learned in his career spanning six decades: ‘Panic is not a strategy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: bob pisani
Keywords: news, cnbc, companies, investment, learned, things, schwab, decades, financial, charles, strategy, career, told, panic, investing, spanning, clients, really, literacy, hes


Charles Schwab on what he's learned in his career spanning six decades: 'Panic is not a strategy'

Investing pioneer Charles Schwab came to the New York Stock Exchange floor this week to speak with CNBC about his new book, Invested, a personal memoir of the company’s history. Schwab founded an investing newsletter firm in 1963 that would be incorporated in 1971 and officially become Charles Schwab & Co. in 1973.

Price wars: more consolidation coming

Schwab rocked the investment world last week with the announcement of zero commissions on equity and ETF trading, and told me it was part of a long-term strategy to cut fees and keep as many assets with Charles Schwab Corp. as possible. “We make our money on other relationships. You might want advice and might want to have a fixed income or things like that.” When I asked Schwab if these price wars might spark a wave of consolidation in the brokerage business, he acknowledged, “It probably will happen.” Is Schwab a buyer? “At the right valuations we would do it,” he said, “but we are really strong and very independent the way we do things. If it happens, if it’s appropriate for our shareholders, we’ll do it.”

Passive investing: good for the average investor

Schwab also noted that the company had become a major player in the exchange-traded fund business. He pushed back against assertions that passive, indexed-based investing was in some way harmful to the average investor. “Passive investing is clearly a path for most people. It’s really easy, and offers great diversification and low cost.”

“I wish I could just tie them to their chairs”

A good part of the book deals with how Schwab interacted with clients during the worst of times, most notably the market crashes of 1987, 2000, and 2007-2008. He said clients panicked and withdrew large chunks of their investment money at or near market bottoms. Schwab made efforts to calm investors’ nerves by declaring that “panic is not a strategy.” He told me, “Well, we sent out a lot of communications to our clients through those time periods. Not all were perfect timing. When we were down 40%, we’d send out an alert that said, ‘Do not sell. This is not a time to panic. Hang on. Six months from now, you’ll be much better off.’ That was the kind of view we would take.” Still, Schwab admitted that clients often did not heed his advice, that rather than buy high and sell low, investors often did the opposite. In his book he notes that, “In fact, the late 1980s, right after the crash, was probably the best opportunity my generation was ever presented to dive into the market. It was the chance of a lifetime to make enormous long-term investing gains. But few recognized it at the time. Having just been burned, many now watched warily from the sidelines… Sometimes I wish I could just tie them to their chairs to help them ride out the temporary storm.”

Countering bad investment decisions

To counter bad investment decisions (like selling at the bottom), Schwab has been a relentless advocate for financial literacy. In 2008 President Bush appointed him Chairman of the President’s Advisory Council on Financial Literacy, where he supported, among other programs, a financial literacy course in every high school that would teach fundamentals of investing: “Listen, we’re a sophisticated free enterprise country. We should have an understanding of what that really means in schools,” he told me. Schwab also told me that more financial literacy would involve studying human behavior, and how fears and biases creep into investment decisions. “I just think it’s a matter of education — understanding how humans react to things,” Schwab said. “There’s many stories and many factual things that have written by psychiatrists — how people react to different new things. They all generally want to panic, but then they say, ‘Oh my God, I’m panicky.’ You ever recognize when you’re panicky? Do not panic. The down markets are always so much more critical—they always go straight down, basically. And that’s what really creates the panic.”

Retirement is in “a crisis”


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: bob pisani
Keywords: news, cnbc, companies, investment, learned, things, schwab, decades, financial, charles, strategy, career, told, panic, investing, spanning, clients, really, literacy, hes


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