Tammer Kamel over at Quandl recently wrote a great piece on the transience of alpha in markets. In it he covers innovations throughout the years that produced alpha for investors. He explains how none of these advantages persisted because of the “inevitability of diffusion”. Eventually others got access to the information or technology that produced the alpha and nullified it.
The pre-1930’s had robber baron-esque investors planting moles in the government left and right. This gave them a heads up on any large government purchases or sales coming down the pipeline.
Two years ago, the European Central Bank cut interest rates below zero to encourage people such as Heike Hofmann, who sells fruits and vegetables in this small city, to spend more.
The conditions in which the workers from Bangladesh, India, Sri Lanka, Pakistan and the Philippines wait are fetid and cramped. They sleep eight to a tiny concrete room and share dirty toilets with feral cats. Temperatures soar to 50 degrees Celsius (122 degrees Farenheit) in the summer, and the electricity powering air conditioners often goes off. Some of the laborers are so destitute that they only own one set of clothes.
The Collapsing Consumer Could Hasten a Recession (Tiffany D.)
If the American consumer is as weak as the items below indicate, we could see a recession as early as the second half of this year, which means there is one thing that is certain — the Fed will not attempt to raise rates again this year.
Georgia’s experience, however, shows that even the most robust and well-considered regulations of the payday-loan business don’t always have the desired effects. In 2004, the state passed a law that effectively banned payday lending, by instituting an interest cap and setting stiff fines and criminal penalties for those who flout it. While the ban has had a positive impact—it has been estimated that state residents have saved more than three hundred and fifty million dollars thanks to its passage—it has not extinguished the industry. As happened centuries ago, short-term lenders simply adapted, promoting alternative financial products to sidestep regulation. The result was that Georgians who might once have taken out payday loans (disproportionately, single mothers and minorities) now tend to hold auto-title loans or installment loans instead.
More than 100 million health care records were compromised in 2015 alone. Federal records show that almost all of those losses came from just three attacks on health insurance providers: Anthem Inc., Premera Blue Cross, and Excellus Health Plan Inc.
On Monday, Qatar’s Minister of Energy and Industry and current OPEC President, Mohammed Bin Saleh Al-Sada, said in an official OPEC press release that an informal meeting of OPEC member countries was slated to take place on the sidelines of the 15th International Energy Forum in Algeria between September 26 and 28, 2016, but OPEC’s official statement abstains from referring to any talks on an oil price freeze.
According to the FERC filing, Apple owns the 20 MW Ft. Churchill solar farm in Lyon County, Nevada, the 50 MW Bonnybrooke solar facility under construction in Pinal County, Arizona, and due online in the fourth quarter, as well as two behind-the-meter generating plants totaling 18 MW on its California campus. And Apple has a long-term firm power purchase agreement with First Solar for 130 MW from a solar farm under construction in California.
Gold & Silver
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