How this New Yorker saved to buy her first Brooklyn apartment at age 25

“I’m so in love with New York City,” Goldstein tells CNBC Make It. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “But for people who do, even if you have loans, you can save a lot o


“I’m so in love with New York City,” Goldstein tells CNBC Make It. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “But for people who do, even if you have loans, you can save a lot o
How this New Yorker saved to buy her first Brooklyn apartment at age 25 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alicia adamczyk
Keywords: news, cnbc, companies, yorker, goldstein, save, apartment, city, price, lot, buy, age, heights, money, saved, onebedroom, shes, brooklyn, 25


How this New Yorker saved to buy her first Brooklyn apartment at age 25

This story is part of CNBC Make It’s new millennial home-buying series. If you’re interested in being featured, email reporter Alicia Adamczyk at alicia.adamczyk@nbcuni.com. New York City is it for Jackie Goldstein. The 31-year-old has lived in the city her entire life, save for her four-year stint at Emerson College in Boston, and she has no plans on leaving. “I’m so in love with New York City,” Goldstein tells CNBC Make It. “I knew I wanted to live here forever. I wanted to own a piece of the city.” The city’s high prices didn’t deter her. The median price for a one-bedroom co-op or condo in New York in the first quarter of 2019 was $800,000, according to a report by Douglas Elliman and Miller Samuel. But for buyers outside of Manhattan and certain parts of Brooklyn, there is less expensive inventory available. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. She was just 25, four years out of college, and making around $30,000 a year as an editorial assistant for the Curbed Network. She was able to save as much as $2,000 per month, she says, because after graduating in December 2009, she moved back in with her father in the Manhattan apartment where she grew up. She enjoyed living with her father in the heart of the city and appreciated that it enabled her to save so much. Without a rent bill, student loans or other day-to-day living expenses to worry about, she began dreaming of a place of her own. Many of the friends she grew up with were also living back home, as they looked for jobs and tried to save in the midst of the recession. “I was very, very fortunate,” says Goldstein. “After a year or two of living with my dad, I realized how much I was saving. I mapped it out and found I could save for a down payment if I lived with him for another year and a half.” Living at home was, of course, central to her ability to stash away money for a down payment. But she says her parents instilled in her a saver’s mindset from an early age. “Our family just does not spend that much,” she says. “My parents were good at saving and were good at spending on the right things, and not spending in a willy-nilly way. I found myself in this very lucky position and took advantage of it,” she says. “I had very low expenses and no debt, so I had to make it happen.”

I feel a lot more secure knowing I have this asset, which is massive. Jackie Goldstein Homeowner

With a plan in mind, Goldstein began scouring real estate listings on sites like Zillow and StreetEasy. She had a general sense of the neighborhoods she could afford and went through a mortgage pre-approval process that gave her budget cap of $300,000. At first, her heart was set on the Prospect Heights neighborhood of Brooklyn, but that proved to be too expensive: The median sale price for one-bedroom condos and co-ops in Prospect Heights at the end of 2013 was $410,000, according to data provided by Zillow, well out of her price range. She eventually shifted her focus to nearby Brooklyn neighborhoods like Park Slope and Crown Heights. After missing out on two apartments, one of which was scooped up with an all-cash offer, she offered over-asking price for a one-bedroom in Crown Heights, which was accepted. The neighborhood had a lot to offer: Plenty of restaurants, cultural attractions like the Brooklyn Museum and Prospect Park within walking distance, and many of her friends lived there, too. It turned out to be a perfect fit. “I was very gung-ho on the apartment,” she says, which was well within her price range. And “the neighborhood keeps getting more interesting.” Goldstein offers these three additional tips for first-time home buyers.

Find professional help

Goldstein says a few key professionals helped her navigate the market and make the most of her homebuying experience. She worked with a real estate agent to help her find a place, and then hired a lawyer, who was recommended by the agent, to handle any issues that came up throughout the buying process. Because she was so young, Goldstein says, it made sense for her to hire people who knew what they were doing. “My lawyer walked me through everything and explained everything I was signing and what it meant,” says Goldstein.

Her mortgage broker, too, was a helpful resource. At the beginning of 2015, the broker contacted her to let her know that interest rates were lower than when she bought the apartment. Goldstein was able to refinance, and her bill dropped from $1,185 to $1,020 per month. Goldstein also routinely sees a financial advisor, who has helped her plan for the future. After her mortgage payments decreased, Goldstein says she decided to keep paying the higher amount each month to pay her debt off faster. But her financial advisor cautioned against that given the low interest rate, advice that she’s thankful for now. “She said I’d be better off saving that money, I don’t really need to give the bank extra money right now,” says Goldstein. “So I went back to paying the normal amount.”

Consider the long-term investment

Goldstein says she liked the idea of buying something that could become income generating if she needed it to. And now that she’s moving in with her boyfriend, she’s embracing potentially becoming a landlord. “I feel a lot more secure knowing I have this asset, which is massive,” she says. “I paid $280,000 for the apartment, and I could probably sell it now for $480,000 or $500,000. It’s appreciated a lot, which is incredible.” In fact, in the six years she’s lived in Crown Heights, the median cost of a one-bedroom has increased from $319,000 in 2013 to $680,500 today, an increase of 113.3%, according to data provided by Zillow. Goldstein has also continued to be a careful saver. Her salary has increased over the course of her career — she’s now vice president of commerce at the New York Post — but she still saves as much as she can each month. She doesn’t yet have a plan for that money, but says she likes the security of knowing it’s there, and the options it gives her. One thing she’s considering: Buying a bigger place with her boyfriend. Goldstein is excited and anxious to experience the buying process at such a radically different point in her life than when she first bought six years ago.

If you can make it work for you and budget it, real estate is such a good investment. Jackie Goldstein Homeowner

“I was so young and had nothing going on, but now I’m older and thinking about more serious things,” she says. “It’s interesting to think about buying from a completely different life stage.” Regardless of where you are in your life, make sure you set a realistic budget so that you have enough money leftover for other expenses. Goldstein enjoys collecting art and taking in all of the cultural events the city has to offer. She wouldn’t be able to invest in and enjoy those hobbies now if she bought an apartment she couldn’t truly afford six years ago. “If you can make it work for you and budget it, real estate is such a good investment,” she says.

Don’t let an expensive market dissuade you

For young buyers in cities like New York, patience is key. Goldstein searched for apartments for seven months before she made her first offer. And she missed out on two apartments before the deal went through for her one-bedroom in Crown Heights. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Be patient,” she says. “You might not get the first apartment.” And make sure to account for expenses beyond the down payment, like closing costs, repairs and new furnishings. “I think I was a little bit naive in general,” she says. “I didn’t really think of the other costs, like moving, and I had literally no furniture because I was coming from my dad’s apartment.” She paid her lawyer a flat fee of $1,900 for her services, and in addition to her monthly mortgage, she pays $600 to $700 per month in maintenance costs to the co-op. Goldstein admits she was lucky with the timing of her apartment purchase. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “I understand I’m in a unique boat, and a lot of people don’t have the opportunity to live at home,” she says. “But for people who do, even if you have loans, you can save a lot of money and do smart things with it.” Don’t miss: How a 25-year-old used $40,000 in down-payment assistance to buy her first house in Atlanta Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alicia adamczyk
Keywords: news, cnbc, companies, yorker, goldstein, save, apartment, city, price, lot, buy, age, heights, money, saved, onebedroom, shes, brooklyn, 25


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Here’s what will happen to the tech industry in a recession

The decade-long expansion has been very good to the tech industry. Companies like Twitter and Uber grew from start-up through IPO, collectively achieving well over $100 billion in new market value. But as anybody who lived through the dot-com bust or Great Recession can tell you, a lot of things will change in a downturn. Some traditional media companies, already hurt by years of shifting ad revenues to tech giants like Google and Facebook, won’t make it out the other side. Let’s not forget, Ama


The decade-long expansion has been very good to the tech industry. Companies like Twitter and Uber grew from start-up through IPO, collectively achieving well over $100 billion in new market value. But as anybody who lived through the dot-com bust or Great Recession can tell you, a lot of things will change in a downturn. Some traditional media companies, already hurt by years of shifting ad revenues to tech giants like Google and Facebook, won’t make it out the other side. Let’s not forget, Ama
Here’s what will happen to the tech industry in a recession Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-11  Authors: matt rosoff
Keywords: news, cnbc, companies, happen, heres, lot, things, companies, giants, weak, industry, recession, tech, twitter, big, business


Here's what will happen to the tech industry in a recession

Bernard J. Ebbers, right, president and CEO of MCI WorldCom Inc., speaks as William T. Esrey, chairman and CEO of Sprint Corp., listens during a news conference in New York, October 5, 1999.

A lot of signs are pointing toward the U.S. economy slipping into a recession in the next year — Treasury yields are sloping downward, freight shipments are dropping and company executives are collectively getting nervous.

The decade-long expansion has been very good to the tech industry.

Tech giants with strong balance sheets have seen their stock prices soar: Since the last recession ended in July 2009, Apple is up almost 900%, Amazon more than 2,000%, and Microsoft — once seen as hopelessly out of touch — is up more than 400%. Smaller companies with lower profits but enviable revenue growth have also done well, like Salesforce (up more than 1,400%) and Netflix (more than 5,000%).

Companies like Twitter and Uber grew from start-up through IPO, collectively achieving well over $100 billion in new market value. Venture money keeps flowing into start-ups, to the point where $100 million fundraising rounds seem unremarkable.

It’s gotten to the point where the power and dominance of these companies seem inevitable, and the wisdom of their executives and investors unquestionable.

But as anybody who lived through the dot-com bust or Great Recession can tell you, a lot of things will change in a downturn. Depending on how deep and how long any recession lasts, look out for the following:

Companies with weak balance sheets will run out of money when cash flow reverses and they cannot find outside financing. Some seemingly big names will disappear almost overnight, or become a lot less prominent and sell for tiny fractions of their current valuations. Many of the companies about which you wonder “how do they stay in business?” won’t.

Owners will be looking to restructure and engage in creative business recombinations. Mergers, spinoffs, buyouts, you name it — assuming financing is available.

Execs who have been delivering borderline performance will be fired, while those with a track record of success will find excuses to leave before things spin out of control. Big names could drop fast, especially after a disastrous quarter or two.

Big companies will abandon speculative or underperforming business units. On the plus side, this will leave new room for start-ups to find disruptive business models that the giants are suddenly too scared to touch.

Advertising spend usually maps to total economic growth, meaning that companies who are mostly dependent on ads for revenue will struggle as businesses tighten their ad budgets. Some traditional media companies, already hurt by years of shifting ad revenues to tech giants like Google and Facebook, won’t make it out the other side. The smaller social networks like Twitter, Snap and Pinterest could also see tougher going.

Shareholders will be looking for somebody to blame, spurring lawsuits and board activism.

Employee activism at places like Google will dry up and recruiting engineers will get a lot easier.

Visible inequality will get worse. Billionaires will be the enemy. Tech in particular.

Recessions test the mettle of investors and separate the strong companies from the weak. But those who make it through to the other side face less competition, paving the way for massive upside during the next boom. Let’s not forget, Amazon Web Services was still a new project when the last recession started in late 2007. Thanks to Amazon’s hefty investments at the time, it turned into one of the most successful businesses of the following decade.

WATCH: Steve ‘The Big Short’ Eisman on rising risks


Company: cnbc, Activity: cnbc, Date: 2019-08-11  Authors: matt rosoff
Keywords: news, cnbc, companies, happen, heres, lot, things, companies, giants, weak, industry, recession, tech, twitter, big, business


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The US dollar is ‘the best of a bad lot’: TD Securities

The US dollar is ‘the best of a bad lot’: TD Securities13 Hours AgoMazen Issa of TD Securities says the yield advantage of the U.S. dollar is still “fairly attractive.” He also says it’s best to leave the British pound aside.


The US dollar is ‘the best of a bad lot’: TD Securities13 Hours AgoMazen Issa of TD Securities says the yield advantage of the U.S. dollar is still “fairly attractive.” He also says it’s best to leave the British pound aside.
The US dollar is ‘the best of a bad lot’: TD Securities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05
Keywords: news, cnbc, companies, leave, td, lot, best, yield, securities13, issa, securities, dollar, bad, pound


The US dollar is 'the best of a bad lot': TD Securities

The US dollar is ‘the best of a bad lot’: TD Securities

13 Hours Ago

Mazen Issa of TD Securities says the yield advantage of the U.S. dollar is still “fairly attractive.” He also says it’s best to leave the British pound aside.


Company: cnbc, Activity: cnbc, Date: 2019-08-05
Keywords: news, cnbc, companies, leave, td, lot, best, yield, securities13, issa, securities, dollar, bad, pound


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The No. 1 advisor on the state of investing advice: ‘There is an amazing amount of silly beliefs’

1 registered investment advisor in America is annoyed about the state of investment advice in this country. 2) Bitcoin over the stock market? Seventeen percent would rather invest in bitcoin than the stock market. Colleges are in the business of recruiting students to pay these high tuition rates. Legislation and technology need to come together to solve the crisis: States are offering free college tuition for community colleges.


1 registered investment advisor in America is annoyed about the state of investment advice in this country. 2) Bitcoin over the stock market? Seventeen percent would rather invest in bitcoin than the stock market. Colleges are in the business of recruiting students to pay these high tuition rates. Legislation and technology need to come together to solve the crisis: States are offering free college tuition for community colleges.
The No. 1 advisor on the state of investing advice: ‘There is an amazing amount of silly beliefs’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: bob pisani
Keywords: news, cnbc, companies, college, rates, advice, dont, beliefs, investing, state, lot, amazing, tuition, stock, market, silly, money, think, advisor, colleges


The No. 1 advisor on the state of investing advice: 'There is an amazing amount of silly beliefs'

The No. 1 registered investment advisor in America is annoyed about the state of investment advice in this country. “There is an amazing amount of silly beliefs and bad investment advice floating around,” Ric Edelman, founder and chairman of Edelman Financial Engines, said during an interview at the New York Stock Exchange. He was interviewed as part of CNBC’s partnership with Acorns, “Invest in you. Ready. Set. Grow.” Two silly investment beliefs: 1) Recession? What recession? “Forty percent of the U.S. population believe the U.S. is in a recession,” Edelman said. “This is the longest running bull market ever, inflation rate is at historic lows, employment rates at historic lows, interest rates at historic lows, and yet 40 percent of Americans think the economy stinks. It’s crazy.” What’s going on? It’s the way people think: “If I’m out of work, the economy stinks. If my pay hasn’t gone up lately, if I can’t afford a house. It’s all about me. But that thinking is wrong: Edelman said he understands that many people have medical issues or other personal problems, but “If things stink in your life financially, maybe you should make some changes about how you’re managing your personal finances. … To argue that the economy stinks and use that as a reason for ‘I don’t want to save, I don’t want to buy mutual funds, or invest in the markets,’ you’re just delusional. You’re kidding yourself.” 2) Bitcoin over the stock market? Seventeen percent would rather invest in bitcoin than the stock market. “It tells you about the incredible lack of confidence. This bull market is the Rodney Dangerfield of Wall Street, it gets no respect. This stock market is the biggest bull market we have ever had, it’s the longest in history, and yet people are arguing they’d rather put the money in bitcoin, they’d rather put their money in cash or under the mattress. I don’t have a problem with bitcoin, but to say you’d rather have it than stocks? That’s just insane.”

Boomers versus millennials

Compared with baby boomers, millennials are jaded and less trustful, and it’s easy to understand why they feel that way: “Millennials came of age around 2000, just in time for 9/11, just in time for 2008, and they don’t have a lot of confidence in financial markets, they don’t have a lot of confidence in governments, and they certainly don’t have a lot of confidence in corporations.” Still, millennials have watched the mistakes their baby boomer parents have made — particularly the lack of savings: “It’s causing them to make smarter financial decisions. Not just about how they spend versus save, but saying, ‘I don’t think I want to splurge on a huge wedding, I don’t think I want to spend a lot of money on a wedding ring, I don’t think I want to buy a fancy car.’ They’re actually being more prudent.” Compared with baby boomers at their age, millennials are: 1) Saving more 2) Not buying houses 3) Getting married later or not at all 4) Having kids later or not at all. Birth rates are coming down. “If you go back to the 1930s when Social Security was started, there was about 300 workers for every retiree. Today there are three.”

The ‘college scam’

Edelman is particularly peeved at colleges he says have done a poor job of preparing students for the real world — not to mention the cost: a) Crushing debt. The average college graduate owes $30,000. “We now owe more to student loans than we do to credit cards: $1.6 trillion.” b) Misplaced expectations. “The average graduate thinks they are going to earn $15,000 more than they actually are earning.” Average salary expected: $55,000. Actual salary: $40,000. Whose fault is that — the colleges or the economy? “It’s the fault of the colleges. Colleges are in the business of recruiting students to pay these high tuition rates. Colleges are creating college degrees without regard to the financial impact. Did you ever notice that no matter what degree you pursue in college your tuition is the same? Why is a school teacher student paying the same tuition as a biology student? The cost of labs is a lot higher than the cost of a school teacher yet the tuitions are the same.” Legislation and technology need to come together to solve the crisis: States are offering free college tuition for community colleges. And corporations are helping: “You go to work for Starbucks, Disney, Chrysler Fiat, Walmart, they will pay for your college degree if you simply are an employee there. You don’t have to spend massive amounts of money to get that degree anymore.”

Advice to novice investors


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: bob pisani
Keywords: news, cnbc, companies, college, rates, advice, dont, beliefs, investing, state, lot, amazing, tuition, stock, market, silly, money, think, advisor, colleges


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You’re not alone if you spend more time planning your vacation than working on your finances

One in 5 American adults spend more time planning their vacations than managing their finances, according to an online survey of about 1,000 people from MyBankTracker.com. “It could be because they are comfortable and have automated finances,” Reposa said. He said how people prioritize their vacation and financial planning could be based on family needs, marital status and careers. But one thing is clear, he said: Planning a vacation will be easier if you manage your finances well. “Vacation pla


One in 5 American adults spend more time planning their vacations than managing their finances, according to an online survey of about 1,000 people from MyBankTracker.com. “It could be because they are comfortable and have automated finances,” Reposa said. He said how people prioritize their vacation and financial planning could be based on family needs, marital status and careers. But one thing is clear, he said: Planning a vacation will be easier if you manage your finances well. “Vacation pla
You’re not alone if you spend more time planning your vacation than working on your finances Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, spend, vacation, lot, youre, reposa, financial, survey, planning, finances, managing, working


You're not alone if you spend more time planning your vacation than working on your finances

Managing finances is important, but it’s not how a lot people are using their time.

One in 5 American adults spend more time planning their vacations than managing their finances, according to an online survey of about 1,000 people from MyBankTracker.com.

There could be several reasons why people dedicate more time to planning trips than figuring out finances, said Jason Reposa, CEO and co-founder of MyBankTracker.com.

“It could be because they are comfortable and have automated finances,” Reposa said. “A cruise-control situation.”

More from Personal Finance:

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The survey found that the demographic most likely to spend more time on vacation planning than finances — five times more, in fact — was the 25 to 34 age group. Reposa said that could be because they want to get their traveling in before having children.

He said how people prioritize their vacation and financial planning could be based on family needs, marital status and careers.

But one thing is clear, he said: Planning a vacation will be easier if you manage your finances well.

“Unless you’re in the top 1% of income earners in the U.S., it almost always comes down to budgeting,” Reposa said. “Vacation planning becomes a lot less stressful if you understand fully your financial situation.”


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, spend, vacation, lot, youre, reposa, financial, survey, planning, finances, managing, working


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Streamers such as Netflix have a lot to gain from competitive reality shows

A reality competition show about glassblowing was probably not going to be your go-to weekend binge. “Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000. Reality com


A reality competition show about glassblowing was probably not going to be your go-to weekend binge. “Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000. Reality com
Streamers such as Netflix have a lot to gain from competitive reality shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: mallika mitra
Keywords: news, cnbc, companies, visually, released, competitive, competition, shows, netflix, gain, reality, race, media, nadler, lot, streamers


Streamers such as Netflix have a lot to gain from competitive reality shows

A reality competition show about glassblowing was probably not going to be your go-to weekend binge. But Netflix may have changed that when it dropped “Blown Away” on July 12.

The new Canadian show features glassblowers fighting to impress a panel of judges with their artistic skills over a 10-episode season. The stakes: getting eliminated or nabbing a $60,000 cash prize and a residency at the Corning Museum of Glass. It was released the same month Netflix scored its first Emmy nomination in the “Outstanding Competition Program” category for baking show “Nailed It” — ending the 14-year streak for Bravo’s “Project Runway.”

“Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows.

The show was on Netflix’s top 10 reality shows in the United Kingdom during the week of July 20, according to Radio Times, and has gotten buzz on social media — mostly driven by a divide about the winner.

Netflix was “sort of the most likely home for the show,” said Matt Hornburg, Marblemedia’s co-CEO and executive producer. Marblemedia produced the show in association with Netflix and Canadian broadcasting company Blue Ant Media and had distributed “Tales of Light,” a documentary reality show about photography that Netflix bought.

“We knew that visually rich projects are very appealing” to Netflix, Hornburg said. “They were very excited about the project.”

The streaming giant’s second-quarter earnings released in mid-July showed the company needs to gain more dedicated watchers. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000.

Reality competition shows may be a way for Netflix to appeal to a wider audience, said James Nadler, chair of Ryerson University’s School of Creative Industries.

“The reality shows and competition shows still cut across all the demographics,” Nadler said, adding that shows such as CBS’ “Survivor” and “The Amazing Race” and NBC’s “The Voice” are ones families often watch together.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: mallika mitra
Keywords: news, cnbc, companies, visually, released, competitive, competition, shows, netflix, gain, reality, race, media, nadler, lot, streamers


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Apple shines on earnings—Cramer and other experts on what comes next

Instead, Apple reported strong growth in wearables and services. Ed Snyder, managing director at Charter Equity Research, said Apple needs to broaden out iPhone usage into the mid-tier market, so they can continue growing. And I think wearables is a bright spot for the ecosystem. “Mad Money” host Jim Cramer said the report gives those who see Apple as only a cellphone company a lot to think about. But, I think a lot to think about going down the pike, particularly with the credit card right on t


Instead, Apple reported strong growth in wearables and services. Ed Snyder, managing director at Charter Equity Research, said Apple needs to broaden out iPhone usage into the mid-tier market, so they can continue growing. And I think wearables is a bright spot for the ecosystem. “Mad Money” host Jim Cramer said the report gives those who see Apple as only a cellphone company a lot to think about. But, I think a lot to think about going down the pike, particularly with the credit card right on t
Apple shines on earnings—Cramer and other experts on what comes next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: araceli crescencio
Keywords: news, cnbc, companies, think, revenue, services, apple, wearables, lot, quarter, shines, earningscramer, comes, going, iphone, experts, company


Apple shines on earnings—Cramer and other experts on what comes next

Apple — it’s more than just phones.

The company reported better-than-expected earnings Tuesday evening, sending the stock up 4% on Wednesday.

For the first time since 2012, iPhone sales did not account for over half of the company’s total revenue. Instead, Apple reported strong growth in wearables and services.

Are signs pointing to a brighter future for Apple? Here’s what four experts, including CNBC’s Jim Cramer, thought of the report.

Ed Snyder, managing director at Charter Equity Research, said Apple needs to broaden out iPhone usage into the mid-tier market, so they can continue growing.

“It’s slightly better than expected, but with the services as a higher mix, and their gross margin continuing to decline, [it] kind of suggests what’s going on with [the] iPhone — it’s fading a bit. There is speculation they’re going to enter a more mid-tier market beginning of next year — which would be a very good thing. Ultimately they’ve got to expand their reach of iPhone beyond the high-end and try to move into the mid-tier to sustain the consumer base for the services businesses. If they’re able to do that, things will work out. If they’re not, they’ll start to ebb … We’ll see how the fall launch goes, which is a lot of eyes toward how successful the new phones are.”

Nancy Tengler, chief investment officer at Butcher Joseph, sees the move away from iPhones and growth in wearables as a good sign.

“I think it was a great quarter in this regard … Very quickly the company has grown away from the iPhone being super dominant in terms of total revenues. I thought the services numbers were just a tad weak. China was very encouraging, in terms of a slowdown in the sequential decline. And I think wearables is a bright spot for the ecosystem. So, in general, I think the little bits of bad news were offset by some powerful news in other segments. And then you can’t argue with the margins — it’s impressive.”

“Mad Money” host Jim Cramer said the report gives those who see Apple as only a cellphone company a lot to think about.

I think what people like, frankly, is that if you have to back out this number, and then you back out that [number]—what really you get down to is services … You’re talking about wearables and services amounting to be in a Fortune 50 company. The smallest company in a Fortune 50 company is about a $62 billion company. Still not enough to please those who say it’s only a cellphone company. But, I think a lot to think about going down the pike, particularly with the credit card right on the horizon. Well, you did have a one-time gain last year that you’re lapping, and you also did have … a big currency swing. I mean, I could understand if you just used currency you could probably get around 15% increase, … but the idea that it was going to be at 12% where Toni Sacconaghi was just kind of the most tepid bull in history thought it might be—that didn’t happen. So, I think the analysts are going to back out and do some of the calculations that I mentioned, and try to … be able to guide 16 to 18[%], which again is very good considering the size of it. You’re right about wearables, it’s awful low base, but everything that starts, is in awful low base when it begins — and that’s how I view this quarter. ”

Gene Munster, managing partner at Loup Ventures, said Apple proved critics wrong across the board, and is in a positive turning point.

“Well, they proved, once again, the critics wrong. You just go down the line, whether it’s revenue, China, profitability, wearables, the guidance … And I want to put a finer point on the guidance, if you take a typical beat it implies that they’ll grow revenue by 2% in the September quarter. … That will be the first time in a year that it will have grown revenue. But it’s beyond the September quarter. The real tell here is, if we start to fast-forward into December, the [comparables] of course get much easier. So, I think that this is going to be a turning point to the stock, given how easy it gets for the first three quarters of next year, and separately 5G coming. It just seems to be clear sailing, and I suspect there’s going to be a lot of analysts who are going to be wringing their hands over what’s the proper multiple for Apple, and this multiple will continue to inch higher in the year to come. ”

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Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: araceli crescencio
Keywords: news, cnbc, companies, think, revenue, services, apple, wearables, lot, quarter, shines, earningscramer, comes, going, iphone, experts, company


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Foul ball: 10 top-earning athletes who lost a lot of money

Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Professional athletes suddenly striking it rich and then precipitously losing it all is a tale familiar to many. He’s also being sued for $6.6 million by another creditor who claims he defaulted on a loan. He just signed a new two-year, $5 million deal with the Redskins this spring, so all might not yet be lost. Here’s


Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Professional athletes suddenly striking it rich and then precipitously losing it all is a tale familiar to many. He’s also being sued for $6.6 million by another creditor who claims he defaulted on a loan. He just signed a new two-year, $5 million deal with the Redskins this spring, so all might not yet be lost. Here’s
Foul ball: 10 top-earning athletes who lost a lot of money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, peterson, defaulted, million, ball, redskins, financial, topearning, wellknown, adrian, foul, twoyear, lost, athletes, washington, lot, money


Foul ball: 10 top-earning athletes who lost a lot of money

Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland.

Professional athletes suddenly striking it rich and then precipitously losing it all is a tale familiar to many.

The latest news on this financial front is that NFL star football player Adrian Peterson, a Washington Redskins running back, was ordered by a Maryland court to pay back more than $2.4 million to a lender after he defaulted on a 2016 loan. He’s also being sued for $6.6 million by another creditor who claims he defaulted on a loan.

Peterson, 34, has earned a reported $99.2 million over his 12-year career. He just signed a new two-year, $5 million deal with the Redskins this spring, so all might not yet be lost.

Here’s a look at 10 other well-known pro athletes who faced significant financial setbacks that they eventually bounced back from — or didn’t.


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, peterson, defaulted, million, ball, redskins, financial, topearning, wellknown, adrian, foul, twoyear, lost, athletes, washington, lot, money


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A lot of people in the EU are sick of Brexit: Economist

A lot of people in the EU are sick of Brexit: Economist11 Hours AgoSimon Baptist of The Economist Intelligence Unit says patience is wearing “very, very thin” in the European Union when it comes to Brexit. He also weighs in on the leadership of incoming U.K. Prime Minister Boris Johnson.


A lot of people in the EU are sick of Brexit: Economist11 Hours AgoSimon Baptist of The Economist Intelligence Unit says patience is wearing “very, very thin” in the European Union when it comes to Brexit. He also weighs in on the leadership of incoming U.K. Prime Minister Boris Johnson.
A lot of people in the EU are sick of Brexit: Economist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-24
Keywords: news, cnbc, companies, patience, prime, sick, weighs, economist, lot, eu, brexit, wearing, union, uk, minister, unit


A lot of people in the EU are sick of Brexit: Economist

A lot of people in the EU are sick of Brexit: Economist

11 Hours Ago

Simon Baptist of The Economist Intelligence Unit says patience is wearing “very, very thin” in the European Union when it comes to Brexit. He also weighs in on the leadership of incoming U.K. Prime Minister Boris Johnson.


Company: cnbc, Activity: cnbc, Date: 2019-07-24
Keywords: news, cnbc, companies, patience, prime, sick, weighs, economist, lot, eu, brexit, wearing, union, uk, minister, unit


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Elon Musk, Bill Gates and Warren Buffett agree: Now is the best time to be alive

Elon Musk is an optimist: There is no better time to be alive, Musk says. “Humanity can address a lot of the suffering that occurs in the world and make things a lot better. Those who think the past is better have not read enough history,” Musk said. “The world is getting better, even if it doesn’t always feel that way,” Gates wrote in the 2018 post. But those venturesome pioneers crafted a system that unleashed human potential, and their successors built upon it,” Buffett wrote in his 2016 lett


Elon Musk is an optimist: There is no better time to be alive, Musk says. “Humanity can address a lot of the suffering that occurs in the world and make things a lot better. Those who think the past is better have not read enough history,” Musk said. “The world is getting better, even if it doesn’t always feel that way,” Gates wrote in the 2018 post. But those venturesome pioneers crafted a system that unleashed human potential, and their successors built upon it,” Buffett wrote in his 2016 lett
Elon Musk, Bill Gates and Warren Buffett agree: Now is the best time to be alive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: catherine clifford
Keywords: news, cnbc, companies, past, warren, better, future, agree, lot, wealth, alive, best, bill, wrote, elon, history, gates, musk, buffett


Elon Musk, Bill Gates and Warren Buffett agree: Now is the best time to be alive

Tesla CEO Elon Musk speaks during a meeting with Chinese Premier Li Keqiang (not pictured) at the Zhongnanhai leadership compound in Beijing on January 9, 2019.

Elon Musk is an optimist: There is no better time to be alive, Musk says. “Humanity can address a lot of the suffering that occurs in the world and make things a lot better. I think a lot of times people are quite sort of negative about the present and about the future, but really if you are a student of history, when else would you really want to be alive?” Musk said Tuesday at a Neuralink event at the California Academy of Sciences. “Now is the best time, pretty much. Those who think the past is better have not read enough history,” Musk said.

Bill Gates has read his history, and he makes a similar argument to Musk. As evidence, Gates uses examples from psychologist and Harvard professor Steven Pinker’s book “Enlightenment Now”: In 1920, the average person spent 11.5 hours each week doing laundry, and in 2014, that fell to an hour and a half, Gates writes on his blog, Gates Notes. He also notes that the global IQ score is rising three IQ points each decade thanks to better nutrition and a cleaner environment aiding in brain development. “The world is getting better, even if it doesn’t always feel that way,” Gates wrote in the 2018 post. Then there’s Warren Buffett: While the investor urges that the stark wealth inequality in America needs to be addressed, he says capitalism and the country’s growing wealth help make this the best time to be alive.

“Early Americans, we should emphasize, were neither smarter nor more hard working than those people who toiled century after century before them. But those venturesome pioneers crafted a system that unleashed human potential, and their successors built upon it,” Buffett wrote in his 2016 letter to Berkshire Hathaway shareholders. The result is that each generation leads a better life than the past. “This economic creation will deliver increasing wealth to our progeny far into the future. Yes, the build-up of wealth will be interrupted for short periods from time to time. It will not, however, be stopped,” Buffett says. “I’ll repeat what I’ve both said in the past and expect to say in future years: Babies born in America today are the luckiest crop in history.” Though it may seem easy to have such optimism when you’re a billionaire like Musk, Gates and Buffett, Gates says he’s “optimistic about the future because I know that advances in human knowledge have improved life for billions of people, and I am confident they will keep doing so.” See also: 5 timeless lessons for success from the early years of Warren Buffett’s annual shareholder letters Neuralink president: You have to be ‘very careful’ telling Elon Musk something is impossible Jeff Bezos: I spend my billions on space because we’re destroying Earth

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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: catherine clifford
Keywords: news, cnbc, companies, past, warren, better, future, agree, lot, wealth, alive, best, bill, wrote, elon, history, gates, musk, buffett


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