A Journal of Independent Research, Analysis, Opinion and Insight
10 08 21 WOWS FULL ISSUE An Alternative Way To View Or Print The Entire Current Issue As A Single Document 10/08/21 Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
Sometimes — albeit not often — things just work out. If you ask Steve Scruggs what the best thing is about the deal that he and his partners in Bragg Financial Advisors — an independent, fee based, investment advisory business run by his family down in Charlotte, N.C. — inked with the mutual fund heavyweights at First Pacific Advisors last year, the first thing he’ll likely say is that he gets to stay put on his little farm outside of town — while continuing to run the small cap value fund he started in 2002 — his way. Then he’ll pause just a beat or two before adding with barely suppressed glee, but with a lot more assets.
By Dylan Grice SPACs raise money in public markets to buy private companies. A standard deal will see the SPAC selling units to investors, comprising of ordinary shares (typically priced at $10 per share), and warrants (typically striking at $11.50 a share).
By Philippa Dunne and Doug Henwood We have referenced Harvard professor Ray Chetty’s work on the connection between family wealth and selective college attendance over the years. Several years ago, Chetty and his team launched Opportunity Insights to contribute targeted big data to policy solutions in order to “empower families throughout the United States to rise out of poverty….” Early in the pandemic OI leveraged their data as Track the Recovery, pretty much an overnight sensation, that allowed all of us to look at a number of crucial metrics — spending, employment, educational outcomes — by high- and low-income zip code, states, sectors, and so on.
By David R Kotok “Congress is at an all-too-familiar stalemate over raising the federal debt ceiling, worrying bankers and others that the financial markets could take a hit if lawmakers fail to reach a deal in advance of an October deadline.”
(“Why debt limit standoff could be worrisome for banks,” https://www.americanbanker.com/news/why-debt-limit-standoff-could-be-worrisome-for-banks)
Recent stock and bond market turmoil has been blamed on a lot of factors. Today we want to add an obscure but very serious factor to the list.
By Fabio Natalucci, Felix Suntheim, and Jérôme Vandenbussche The transition to net-zero greenhouse gas emissions requires unprecedented change by companies and governments, as well as additional investment of as much as $20 trillion over the next two decades. Strong fiscal policies, complemented by a broad range of regulatory and financial policies, will be necessary to facilitate the green transition.
Sinking Comfort Levels Unease Rising With Stocks, Bonds Houses At Nosebleed Heights 10/08/21 8:20 AM By Andrew Addison Robert Shiller penned an excellent article in Sunday’s NY Times business section titled “As 3 Markets Rise, the Comfort Level Sinks.” He noted that the prices of Stocks, Bonds and Residential Real Estate are all extremely high, with all three never this overpriced (simultaneously) in modern history.
His CAPE Ratio is the 2nd-highest since data began in 1881. [More]
Clear As Mud Market Crosscurrents Persist; Stock Symbol Of The Year 10/08/21 7:20 AM By Blaze Tankersley NDX and by extension SPX prices, are at odds with IWM MDY and NYA prices. It is a strange mix out there as XOP moves to breakout and BKX is knocking on the front door while many depressed average type stocks have been showing a recent surge of strength, led by leisure stocks — hotels, airlines and the like — while the big indexes fall. [More]