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Ray Blancos Biotech Report: The 48-Hour Alzheimers Cure

Today, more than 5 million Americans suffer from Alzheimers disease, and millions more will be diagnosed in the years to come.

But those days could soon be over.

Ive discovered companies working on a new treatment that has the potential to do much more than just mask Alzheimer symptoms.

If this new treatment lives up to its promise, it could deliver incredible profits in short order.

Heres what you need to know.

Cash In On an Alzheimers Breakthrough

Big pharma has believed for years that Alzheimers is caused by Amyloid Plaque forming in the brain.

A prevailing theory for decades However, of the 244 drugs brought to trial to treat Alzheimers in the last ten years 243 of them have failed.

Thankfully, were onto to a groundbreaking new breakthrough. One with the potential to be one of the best-selling treatments in biotechs history.

To understand how this new treatment works, you first need to know a bit about Alzheimers.

According to the most accepted theory, it all comes down to proteins.

Proteins are intricate molecules made up of sequences of smaller molecules. There are billions of possible ways to arrange these sequences.

However, a proteins properties arent only determined by its molecular sequence. Proteins must also fold into a specific shapes to carry out their specific functions.

If a protein gets folded into the wrong shape it may become toxic.

Researchers believe that is whats happening in the brains of Alzheimers patients. Their brains are filled with a misshaped protein known as beta amyloid.

Over time, the accumulation of these toxic proteins starts killing brain cells.

Now that researchers know exactly what to target, the next step was finding a way to remove these toxic proteins from the body.

The process is difficult. Proteins misfold in many different variants. Each has to be identified and studied to find out what it does and why.

Its a major contributing factor to why progress to finding a cure has been so slow.

But thats on the verge of changing, thanks to new research from a handful of companies.

Maybe Not First But Possibly the Best

Back in 2007, the biotech company Biogen bought an early-stage Alzheimers drug from a small Swiss company. It paid $380 million for it, and has been developing the drug ever since.

The treatment is now in Phase 3 testing, the last stage of trials before the company can ask for permission to sell the drug.

The drug works by attaching antibodies to the beta-amyloid proteins. This then signals the immune system to attack them.

Early data from the drug has been promising, but researchers have also uncovered an dangerous side effect.

In addition to clearing out the toxic beta amyloids, the drug also clears out the harmless plaque around them. This leaves gaps in the brain that fill with fluid, leading to a dangerous condition known as edema.

As a result, Biogens drug dosage must be strictly monitored.

But despite this serious drawback, Biogens progress towards a cure has been great for its stock price. Its market value has grown by $40 billion within just a few months.

More importantly, Biogens research has helped bolster other theories about Alzheimers disease.

Now companies are using those findings to create treatments that specifically target the true bad actor in Alzheimers disease, without attacking the good proteins.

If this newer version of the treatment is successful, it wont matter if Biogen ends up with a first-in-class drug to treat Alzheimers disease.

As it turns out, Ive recently discovered one tiny biotech thats leading the way in bringing a best-in-class version of this new Alzheimer’s treatment to market.

The tiny biotech company behind it all is on the verge of changing the world of medicine.

No one will see it coming, except you.

But only if you click here now to get ahead of the herd.

For Tomorrows Trends Today,

Ray Blanco

Morningstars Fund Managers of the Year: 2017

Top 15 Best States for Retirement: 2018

Trump Signs ACA Tax Blocker Bill

Gary Shilling, Famed Bubble Detector, Urges Caution on Stocks

Morningstar today announced the winners of its 2017 U.S. Fund Manager of the Year awards, given in four major categories: domestic stock, international stock, fixed income and allocation/alternatives.

(Related: 16 Best Fund Managers of 2017: Morningstar)

All four category winners “used their proven investment approaches to come out on top,” said Laura Pavlenko Lutton, Morningstar’s director of manager research, North America, in a statement. All four also winners also had “impressive long-term records,” said Lutton.

Indeed, all four funds ranked in the top 10% for their Morningstar category over 10 years and two of the funds, the Prudential Total Return Bond Fund and T. Rowe Price Capital Appreciation Fund, placed in the top 1% over 10 years. Unfortunately, two of the four funds, Fidelity Growth Company Fund and T. Rowe Price Capital Appreciation Fund, are closed to new investors.

Here are some highlights from the Morningstar announcement:

Domestic Stock Fund Manager of the Year

Steven Wymer, Fidelity Growth Company Fund

2017 Return: 36.8%

2017 Ranking: Top 5%

10-year Ranking: Top 4%

Wymer has run the fund since 1997, searching for above average top-line growth prospects and distinctive products, according to Morningstar. As a result, the fund is heavily invested in technology and health care (biotech) stocks, including Nvidia (NVDA), its single biggest holding, which gained over 80% in 2017. Below-average fees also helped along with the fund’s closure to new investors, which protects Wymer’s ability to invest in small- and mid-cap shares, according to Morningstar.

International Stock Fund Manager of the Year

Sarah Ketterer, Harry Hartford and Team, Causeway International Value Fund

2017 Return: 27.1%

2017 Ranking: Top 14%

10-year Ranking: Top 10%

Eight portfolio managers run the Causeway fund, led by Ketterer and Hartford, using fundamental and quantitative analysis to select 50 to 60 stocks that are held for the long term. Morningstar describes the strategy as aggressive and contrarian, which can also lead to extended slumps. The fund’s bet on Volkswagen (VOW3) in 2017, however, paid off as the stock gained more than 40%.

Fixed Income Fund Manager of the Year

Michael Collins, Robert Tipp, Richard Piccirillo and Gregory Peters, Purdential Total Return Bond Fund

2017 Return: 6.6%

2017 Ranking: Top 2%

10-year Ranking: 1%

These four portfolio managers have at least 23 years of industry experience each, but they also access research from a much larger team of fundamental analysts who are also focused on risk management. Sector selection, sector allocation and yield curve and duration position all contributed to the fund’s 2017 outperformance, according to Morningstar.  

“This team has shown it can weather the storm when it comes to market volatility, and the managers have the flexibility to adjust the fund when necessary,” said Lutton.

The fund focuses on corporate bonds and securitized assets.

Allocation/Alternatives Fund Manager of the Year

David Giroux, T. Rowe Price Capital Appreciation

2017 Return: 15.4%

2017 Ranking: top 22%

10-Year Ranking: 1%

This is Giroux’s second win; the first was in 2012. The fund, which invests in a split of 60% stocks/40% bonds, convertibles, leveraged loans and cash, has beaten its category average every year since 2008 and returned a 9.2% annualized gain since June 2006 when Giroux took the helm.

“Strong health care picks such as Abbott Laboratories and UnitedHealth Group and a bias toward corporate bonds in the fixed-income sleeve contributed to the funds success in 2017,” said Lutton. Also, a sizable weighting in high-yield bonds helped offset the almost nonexistent gain from the fund’s 14% cash position, according to Morningstar.

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Top 5 Canadian Stocks For 2018

This is a guest contribution from The Financial Canadian

It is rare to find an investment that is both relatively safe and offers tremendous upside potential.

What if I told you that there was a smaller Canadian version of Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B) that has both of these characteristics?

The company I’m talking about is Fairfax Financial Holdings Ltd. (OTCPK:FRFHF) It is a diversified insurance provider with a significant portfolio of common stock investments.

This post will examine the investment prospects of Fairfax in detail.

FFH – Business Overview

Fairfax (TSE:FFH) is a diversified insurance company with headquarters in Toronto, Canada. The present management has been in control of Fairfax since September of 1985.

Fairfax’s operations are divided into two segments: insurance and investment management.

Its insurance operations include a variety of wholly-owned subsidiaries that are operated on a decentralized basis. Many of these wholly-owned subsidiaries are large in their own right, including Northbridge, Odyssey Re, Crum & Forster, Zenith National, and Brit Insurance (the newest addition to the Fairfax family).

Top 5 Canadian Stocks For 2018: Talisman Energy Inc.(TLM)

Advisors’ Opinion:

  • [By Jayson Derrick]

    On the other hand, the analysts are Underweight on Eni SpA (ADR) (NYSE: E), Repsol Oil & Gas Canada Inc (USA) (NYSE: TLM) and OMV AG given their asset bases, which offer an inferior risk to reward profile and limited differentiation in cost reductions.

Top 5 Canadian Stocks For 2018: Natural Gas(NG)

Advisors’ Opinion:

  • [By William Romov]

    Over the last year, the number of short positions on gold stocks has fallen. One of these stocks is a Canadian gold mining company called NovaGold Resources Inc. (NYSE: NG). In the last 12 months, the volume of short bets on the stock declined 79%, to 522,400. This shows a shift in sentiment from bearish to bullish for gold.

  • [By James E. Brumley]

    When an investor thinks of Canadian gold mining stocks, NovaGold Resources Inc. (USA) (NYSEMKT:NG) and Yamana Gold Inc. (USA) (NYSE:AUY) are often the first names to come to mind. And well they should. Yamana Gold is a $2.5 billion giant, and NovaGold Resources seems to have been around forever.

    Those two icons aren’t the only way to tap into Canada’s sizeable gold mining industry though. There’s a small, up-and-coming player called Taranis Resources Inc. (OTCMKTS:TNREF, TSX:TRO) that could end up becoming another key fixture of the country’s mining landscape.

    Taranis develops mineral deposits into mine-ready projects. Its primary project right now — and it’s enough to keep the company plenty busy for the next several years — is the Thor property located near Trout Lake, British Columbia. NI 43-101 resource reports (indicated and inferred)suggest Thor contains 6.9 million ounces of silver, 35,000 ounces gold, 57 million pounds of lead, 79.4 million pounds of zinc and 3.3 Million pounds of copper (roughly a 14 million ounce silver equivalent (“AgEq”) deposit*) laying in wait in a way that lends itself to the establishment of a low-cost, open pit mining operation. That’s roughly $300 million worth of marketable metals, and the estimates have been steadily getting bigger as Tanaris does more survey work.

    And 2017 could be a real breakout year for Taranis, as a lot of the work that’s been done to date starts to mean something. It’s got big exploration plans for this year… this spring/summer to be exact.

    The Phase 1 program was completed in September of last year, setting the stage for a more defined and much bigger Phase 2 definition-drilling within the next several weeks. This Phase 2 definition drilling slated for the middle of this year will drill down to between 6000 m and 10,000 m.

    These so-called first generation target areas are generally well understood areas based on sound geological information includ

  • [By Money Morning Staff Reports]

    Canadian gold mining company NovaGold Resources Inc. (NYSE: NG) shows an even starker change in sentiment. In the last 12 months, the volume of short bets on the stock declined 79%, to 522,400.

  • [By Money Morning News Team]

    Canadian gold mining company NovaGold Resources Inc. (NYSE: NG) shows an even starker change in sentiment. In the last six months, the volume of short bets on the stock declined 32.75%, from 19.05 million shares to 12.81 million.

Top 5 Canadian Stocks For 2018: Silver Wheaton Corp(SLW)

Advisors’ Opinion:

  • [By Rich Duprey]

    Silver Wheaton (NYSE:SLW), of course, is a streamer like Sandstorm and Franco, but it is the largest in the precious-metals industry, and arguably the best-known, because its business model came to define what streaming is. Although it is known primarily for its silver contracts, Silver Wheaton also has sizable gold production that makes it worth your attention.

Top 5 Canadian Stocks For 2018: Wells Fargo & Company(WFC)

Advisors’ Opinion:

  • [By Jim Cramer]

    Net operating cash flow has increased to $18,937.00 million or 25.72% when compared to the same quarter last year. Despite an increase in cash flow of 25.72%, WELLS FARGO & CO is still growing at a significantly lower rate than the industry average of 301.19%.

     

  • [By Craig Jones]

    On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in Wells Fargo & Co (NYSE: WFC).

  • [By Chris Lange]

    Wells Fargo & Co. (NYSE: WFC) has consensus estimates of$1.00 in EPS and revenue of $22.47 billion. The fourth quarter of last year reportedly EPS of had $1.03 and $21.59 billion in revenue.

  • [By WWW.THESTREET.COM]

    Finally on Friday, the banks begin to report. This is a group that benefits both from President-elect Donald Trump’s proposed deregulation and from rising interest rates. Cramer was bullish on JPMorgan and Bank of America (BAC) , but held Wells Fargo (WFC) , another Action Alerts PLUS name, as his favorite in the group.

  • [By WWW.MONEYSHOW.COM]

    For the negative side of the banking story, let’s look at Wells Fargo (WFC). This is the company that has been embroiled in a scandal involving the fraudulent opening of some two million accounts as employees tried every trick in the book to make unrealistic sales quotas.

Top 5 Canadian Stocks For 2018: Safeway Inc.(SWY)

Advisors’ Opinion:

  • [By Peter Graham]

    A long term performance chart shows shares of SUPERVALU underperforming the underperformance ofmid caps Whole Foods Market, Inc (NASDAQ: WFM) and Safeway Inc (NYSE: SWY). while large capKroger Co (NYSE: KR)had outperformed up until the last two years when performance has been more mixed:

  • [By Peter Graham]

    A long term performance chart shows shares of small cap SUPERVALU now underperforming large cap Kroger Co (NYSE: KR) while shares of large cap Whole Foods Market, Inc (NASDAQ: WFM) and mid cap Safeway Inc (NYSE: SWY) appear to be back to where they started at:

GE’s Credit Risk Rises After Insurance Charge Spooks Investors

The cost of insuring against potential losses on General Electric Co.’s bonds rose this week as a larger-than-expected charge and growing debt pressures spooked investors.

The premium on GE’s five-year credit-default swaps has jumped almost 20 basis points to 57 basis points since last Friday, which means that it would now cost $57,000 annually to protect $10 million of GE debt, according to data provider CMA. The cost of the swaps rose above a benchmark credit-default swaps index for the first time in more than a year. The Markit CDX North America Investment Index was trading at 48 basis points.

#lazy-img-322783821:before{padding-top:56.25%;}

That said, the jump hardly indicates that GE is in imminent danger of defaulting on its A rated debt. The cost of credit-default swaps on GE has risen from a five-year low earlier this month and is still a fraction of levels seen during the Great Recession in 2008.

A GE representative declined to comment.

The Boston-based company unnerved investors when it disclosed that it would take a $6.2 billion charge and set aside $15 billion in the coming years to add to reserves for a portfolio primarily of long-term care insurance policies. The announcement, along with comments from Chief Executive Officer John Flannery suggesting GE may break into separate companies, reignited fears over the problems GE still has to deal with across its industrial and financial businesses.

“It came with no prior announcement," said Joel Levington, credit analyst at Bloomberg Intelligence. “It makes you wonder what other skeletons they have in the closet.”

The company’s bonds have also been hit in the past week to trade multiple notches below their assigned credit ratings, according to a report by Levington. Ratings firms were unfazed though, as the major U.S. credit graders affirmed their investment-grade ratings for the company.

#lazy-img-322781433:before{padding-top:56.25%;}

— With assistance by Rick Clough

By this measure, U.S. stock market returns arent as big as they look

Adjusted for a weaker U.S. dollar, S&P 500 gains in 2017 were less impressive than meets the eye, and offer yet another reminder why portfolios should diversified globally, according to analysts at New Frontier Advisors.

The S&P 500
SPX, -0.06%
rose 19.4% last year, fueled by optimism over corporate tax cuts and favorable economic growth environment as well as low inflation. The stock market performance, attributed in part to a strengthening economy, stands in contrast to a flattening yield curve and a weakening U.S. dollar, both of which signal low economic growth in the long term.

The yield curvethe difference between short-dated and long-dated yieldshas been flattening steadily since 2013, when it was at about 265 basis points. The spread between two-
TMUBMUSD02Y, -0.19%
and 10-year Treasury yields
TMUBMUSD10Y, -0.17%
is currently at 60 basis points.

An inverted yield curve preceded all of the past seven recessions, but a flattening yield curve does not always mean it will invert. In fact, the yield curve steepened over the past few weeks after narrowing to 48 basis points.

The ICE U.S dollar Index
DXY, -0.18%
which measures the greenback against six other major rivals, fell by 9.8% in 2017, despite the Federal Reserve increasing interest rates three times last year and promising three more hikes in 2018.

A weaker dollar also makes U.S. assets less attractive to foreign investors, resulting in diminished demand.

When we adjust for the dollar weakness [by using the ICE dollar index], the actual return in 2017 was 7.4%, or below the average return since 1957, which is 8.6%, said Robert Michaud, chief investment officer at New Frontier Advisors.

It is true that 7.4% return is still positive, but from an international investors point of view, its mediocre, Michaud said.

For European investors, for example, the nominal gain in the S&P 500 in euro terms, was only 4.9%, according to FactSet.

Read: Why stock market records may just be a mirage caused by dollar weakness

But even U.S.-based investors should consider mitigating the currency risk by diversifying their portfolios, according to Michaud.

From a purchasing power perspective, the U.S. market peaked in at the beginning of March 2017. U.S. investors, even if they spend money only domestically cannot ignore this, because we live in a global economy, he said.

The S&P 500 is up another 6.1% so far in January, and with only five trading days left in the month, it is shaping up to be one of the best monthly performances since March 2016. Meanwhile, the dollar weakened another 3% against its main rival euro and Japanese yen and fell 5.2% against British pound.

The dollar slumped to a three-year low on Wednesday, with the ICE dollar index falling 1% to 89.24 on Wednesday after Treasury Secretary Steven Mnuchin at the annual meeting of the World Economic Forum in Davos said he wasnt concerned about the currencys recent decline. A weaker dollar is good for trade. In the longer term, a stronger dollar is a reflection of the strength of the U.S. economy, he said.

See: Investors shouldnt be surprised that the Trump administration is talking down the dollar

Also read: Heres what Trumps weak-dollar policy means for the stock market

Euphoria in the stock market right now is pretty high. I certainly would not want investors taking out mortgages to invest in stocks right now, but its also not a reason to sell everything. Ideally, investors would have more global perspective all along and have a diversified portfolio, Michaud said.

Related Topics U.S. Stocks Markets Investing

CRYPTO CRASH: You Wont Believe What Just Happened to Bitcoin

Bitcoin broke below $10,000 during a wild trading session yesterday, briefly sending the king of cryptos 50% below its December highs. Thats crash territory, folks…

But bitcoin speculators didnt capitulate. A new buying frenzy helped bitcoin recover most of its losses by the late afternoon. As of early this morning, one bitcoin fetched almost $12,000.

The gyrations took the digital token across a trading range of more than $2,600 over 18 hours, Bloomberg reports. Its tumble to a low of $9,186 pushed a monthlong rout past 50 percent and raised the specter that last years 1,400 percent rally was giving way to what many considered an inevitable bursting of the bubble.

Talk about a wild ride!

dailyreckoning.com/wp-content/uploads/2018/01/BitcoinsRide-DR-300×193.png 300w” sizes=”(max-width: 540px) 100vw, 540px” />

I sensed more crazy price action was to come in the crypto world as the price of bitcoin jumped toward $20,000 in December. Thats when I predicted that bitcoin would crash and lose at least half its value at some point in the next 12 months.

To be clear, I dont think the crypto crash were witnessing right now is the beginning of the end of bitcoin. I dont know if bitcoin is ultimately worth $1 or $1 million, or whether a faster and better cryptocurrency technology will replace it at some point in the future.

My bitcoin crash prediction had nothing to do with the hurdles bitcoin and blockchain technology might face or the fate of decentralized transactions.

I needed only two pieces of information to make my crash call: price action and sentiment. Thats it!

Everything we witnessed in the crypto world leading up to this months hard reset told us bitcoin mania had reached dangerous levels.

Just think back to the dot-com boom of the 1990s. Internet stocks were soaring higher every month. Companies would add dot-com to their name just to attract new investors. Thats exactly what we started seeing in the markets recently as left-for-dead stocks added blockchain to their names to juice shares.

Price acceleration was also getting out of hand. It doesnt matter how hot or hyped an investment becomes it simply cant go straight up forever. With bitcoin going parabolic late last year, it was only a matter of time before a hard reset knocked the price back down and sent speculators running.

Its clear that bitcoin and other cryptos have entered the Wild West phase all speculative assets go through as they mature. The rules and regulations are fuzzy. Rapid price appreciation attracted scammers and hackers. For many investors who are just learning the bitcoin basics, it feels like crypto outlaws are looking to rip off anyone to make a quick buck.

But its also possible that bitcoins most recent tumble has could eventually strengthen the crypto market in the long-term. All manias eventually come to an end. And somewhere along the way, highflying assets will get hit with a hard reset or two before consolidating and moving higher. Thats just how markets work.

So its not totally insane to assume this wont be the last major correction in the life of bitcoin or any other popular cryptocurrency. Remember, bitcoin endured short-term plunges of 20% or more on four separate occasions in 2017. Whos to say we wont see more action like this in the months ahead?

The cryptocurrency market is going to have to start dealing with some growing pains this year. That will lead to wild price swings, hacks, attempts at government regulationyou name it.

And if my hunch is correct, well see more big crashes and rallies in the weeks and months ahead. Buckle up!

Sincerely,

Greg Guenthner
forThe Daily Reckoning

How to give young people career advice that theyll actually listen to

After you retire, youre ideally suited to dish out career advice to young people. But theres a right and wrong way to do that.

Some grandparents love to regale their grandkids about their working lives, emphasizing the role of luck, pluck and hard work. But whether youngsters listen is another story.

You have to go where the child is, said Nancy Schlossberg, 88, author of Too Young To Be Old. If theyre interested in something, do your homework and expose them to their interest. Start with where they are developmentally and find options for them.

Read: This 88-year-old has some advice about staying young and happy

For example, Sarasota, Fla.-based Schlossberg knew that her 14-year-old granddaughter enjoyed digital art. So she contacted a local schoolRingling College of Art & Designand arranged a two-hour tour.

After learning about the colleges computer animation program, they launched into a lively discussion about pursuing your passion. Better yet, the tour guide befriended the teen and offered to help her develop a portfolio of her artwork.

You should have no vested interest in what your grandchild does, added Schlossberg, a former counseling psychologist at the University of Maryland. Youre there as a guide and career coach.

If youre particularly excited by a young persons career aspirations, its tempting to double as a cheerleader and egg them on. But dont overdo it.

While Schlossberg is happy that the Ringling visit proved a hit, she doesnt keep bringing it up with her granddaughter.

Rather than give advice, retirees can positively influence young people by summarizing pivotal moments that shaped their career path. Noting how fate can exert a lasting impactor how openness to new experiences can beget once-in-a-lifetime opportunitiesenables older folks to drive home valuable lessons for tomorrows leaders.

A lot of our careers were unplanned, Schlossberg said. I call it planned happenstance. Thats why we should encourage our grandchildren to get as much experience as possible, to try new things.

Of course, theres nothing wrong with sharing your professional expertise when framing your career advice. Just keep it brief, instructive and relevant.

In his new book Life 3.0, Max Tegmark writes that he encourages his kids to consider professions that machines are currently bad at, and therefore seem unlikely to get automated in the near future.

A physics professor at MIT, Tegmark suggests questions to ask young people to help them identify a secure career for decades to come:

1. Does it require interacting with people and using social intelligence?

2. Does it involve creativity and coming up with clever solutions?

3. Does it require working in an unpredictable environment?

Posing thoughtful questionsand listening patiently to the answersprovides a blueprint to guide youngsters to ponder their career choices. Youre also more likely to engage them if you let them do most of the talking.

Many people dont think through what they want to say before they speak, said Donne Davis, founder of GaGa Sisterhood, a national social network of grandmothers. They shoot from the hip, or they base their advice on their own experience which is so outdated.

Davis, 70, often muses to her teenage granddaughter, I bet there are jobs out there we cant even imagine because of so much new technology. Then she stays silent and lets her granddaughter discuss her dreams, interests and talents.

Adopting a non-judgmental curiosity about various careersand how the ever-changing march of technology might affect those careerscan bring retirees closer to todays youth. They can confide in each other about their hopes and fears for the future.

Such two-way dialogues promote the best kind of career advice. Rather than spout lectures or reel off should statements (You should be a lawyer like your father, You should go into nursing to help all of us old people), you gain credibility by listening and dignifying what you hear.

Yet Davis does have one cardinal rule about advising young people: She cautions them not to rush to accept the first job offer that comes along.

Its better to know what you seek going in and whether your values and goals align with the job, she said. You want to make sure the companys core values align with your own.

Morey Stettner i s a writer in Portsmouth, N.H. Hes the author of five business books, including Skills for New Managers, published by McGraw Hill.

CFPB to Critically Examine Its Policies and Practices

IRS Releases Tax Withholding Tables for 2018

10 Best Foreign Countries for Retirement: 2018

Top 10 Best Colleges With Low Student Debt: Kiplinger

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, announced Wednesday that the agency will issue a “call for evidence” to garner feedback on whether the consumer bureau’s current functions should stay intact.

The CFPB plans to publish in the coming weeks a series of Requests for Information in the Federal Register seeking comment on enforcement, supervision, rulemaking, market monitoring and education activities the bureau performs.

These RFIs will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities. 

“In this new year, and under new leadership, it is natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau’s statutory mandate,” said Mulvaney in a statement.

“Moving forward, the Bureau will consistently seek out constructive feedback and welcome ideas for improvement,” he continued. “Much can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process. I look forward to receiving public comments in response to this call for evidence and encourage all interested parties to participate.” 

The first RFI will seek public comment on Civil Investigative Demands (CIDs), which are issued during an enforcement investigation.

Comments received in response to this RFI will help the CFPB “evaluate existing CID processes and procedures, and to determine whether any changes are warranted.”

Mulvaney, a critic of the CFPB who still holds his job as director of the Office of Management and Budget, has faced legal challenges to his appointment as acting CFPB director.

A judge in early January refused for the second time to block the Trump administration’s appointment of Mulvaney as the temporary CFPB head, setting the stage for a Washington federal appeals court to take up the power struggle.

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5 Reasons New Tax Law Wont Boost Stocks in Long Term: JPMorgans Kelly

The New 20% Pass-Through Tax Deduction: An Advisors Guide

The Overlooked Economics of Trumps Tax Law

9 Ways New Tax Law Could Affect Clients Estate Plans

While the permanent 21% corporate tax rate in the new Tax Cuts and Jobs Act is boosting earnings forecasts for 2018, investors should curb their enthusiasm about what that means for stock prices in the long run, according to David Kelly, chief global strategist for JPMorgan Funds.

Kelly laid out in his Tuesday commentary five reasons for investors to not get their hopes up about the new corporate tax rate’s long-term impact on stock prices.

He also sees the “beta” play in stocks over the past year, with stocks soaring in anticipation of tax reform and then rising further once it passed, now turning into an “alpha” play post tax reform, and he cautions that 2018 will not be “as positive for stocks in general as many believe.”

Under the new tax law, “every company is impacted differently depending on their previous tax rate, their asset holdings overseas, their capital spending plans, their interest costs, their R&D budget, their tax-loss and tax-liability carry-forwards and a host of provisions of the tax act,” Kelly explained.

Because tax reform “has shuffled the deck and given each company a new hand,” Kelly told ThinkAdvisor in separate comments, “this is a great opportunity for fundamental investing.”

The alpha opportunity exists, he said, “for those investors and fund managers who can most accurately and quickly assess the value of these new hands.”

Forecasts of 2018 earnings “now stand at $150.57 for the full year compared to $145.80 just three weeks ago and $144.71 at the end of September 2017,” Kelly said.

The “sharp upgrade” in earnings forecasts is “almost entirely” due to passage of the new tax law. However, as Kelly explains, the following factors about the new tax law should dull investors’ enthusiasm:

1. The scale of the corporate tax cut, in total, is actually modest. 

The net cost to the federal government of the corporate tax cut, once the repatriation tax is included, is $329 billion over 10 years or $33 billion per year. This is less than 2% of the roughly $1.8 trillion that U.S. corporations are expected to make after taxes in 2018.

2. Earnings in 2018 are being bolstered by one-time charges to the fourth quarter of 2017. 

Accounting rules require companies to recognize their new liability for taxes on overseas assets in the period in which the law was enacted, i.e. the fourth quarter of 2017. Consequently, all the benefits of the tax law show up in 2018 and beyond while corporate balance sheets take a hit at the end of last year. It is notable that just since the start of the year, analyst estimates of 4Q2017 “as reported” S&P500 EPS have fallen by $4.67 – almost exactly offsetting the upgrade to 2018 earnings over the same period.

3. The benefits of the tax cut fade over time.

While the corporate tax rate has been cut permanently from 35% to 21%, a number of other provisions get less generous within a few years. In particular:

The net result of all of this is that 92% of the 10-year cash-flow benefits of the tax cut show up in just the next four years.

4.  The overheating caused by fiscal stimulus could squeeze margins.

Seventy-seven percent of the benefits of tax reform accrue to individuals and, as is the case on the corporate side, the tax cuts are front-loaded. In an economy which already is seeing solid growth, this fiscal stimulus could cut the unemployment rate to a 49-year low of 3.5% by the end of this year. However, if it does so, it should finally put some upward pressure on wage growth — good news for American workers but it would likely hurt corporate profits, both directly through higher unit labor costs, and indirectly as it could cause the Fed to raise rates faster, perhaps four times this year rather than the three they currently projected, thus contributing to higher corporate interest expense.

5. Today’s tax cut could mean future tax hikes.

The tax cut will result in significant increases in federal budget deficits over the next few years. No serious economist believes that it can pay for itself. Because of this, some future federal government will have to levy taxes to pay for the cost of this tax cut and no one should assume that corporations will be spared from contributing to this.

— Check out 10 Data Points Investors Should Be Watching Now: JPMorgan’s Kelly on ThinkAdvisor.

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Top 5 Performing Stocks To Watch Right Now

Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., holds the Nvidia Spot as he speaks during a keynote presentation at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Wednesday, Jan. 4, 2017. Nvidia, the biggest maker of graphics chips, announced a new version of its Shield set-top box and the debut of an online service designed to bring millions of new consumers to high-end computer games. Photographer: David Paul Morris/Bloomberg

NVIDIA Corp. ($NVDA) after Thursday’s close Feb 09, 2017’s close. This leading stock was one of the strongest performing stocks in 2016. Nvidia hit a record high of $120.92/share in 2017 and is currently trading near $107/share. The stock is prone to big moves after reporting earnings and fell about $10 in the days after reporting earnings. Currently, it is testing its 50 day moving average lines which is a common area of support. The bulls want to see that level hold and for the stock to bounce higher from here.

Top 5 Performing Stocks To Watch Right Now: BioCryst Pharmaceuticals Inc.(BCRX)

Advisors’ Opinion:

  • [By Monica Gerson]

    BioCryst Pharmaceuticals (NASDAQ: BCRX) shares gained 5.98% to $6.91 in the pre-market session after the company has been awarded contract by the National Institute of Allergy and Infectious Diseases to develop BCX4430 for the treatment of Marburg virus disease.

  • [By Sean Williams]

    Shares of BioCryst Pharmaceuticals (NASDAQ:BCRX), a biotech company that develops small-molecule drugs to block enzymes involved in disease proliferation, surged as much as 12% today after a report was issued that a highly pathogenic H5N1 bird flu was found in the northern part of Malaysia.

  • [By Lisa Levin] Gainers
    Loxo Oncology Inc (NASDAQ: LOXO) rose 32.7 percent to $65.00 in pre-market trading after the company reported that larotrectinib trial demonstrated 76 percent confirmed objective response rate.
    Dynavax Technologies Corporation (NASDAQ: DVAX) shares rose 22 percent to $7.20 in the pre-market trading session after the company on Friday presented updated data for SD-101 in combination with KEYTRUDA.
    Puma Biotechnology Inc (NASDAQ: PBYI) rose 21.7 percent to $99.75 in pre-market trading as the company disclosed positive PB272 Phase 2 data from TBCRC 022 trial at ASCO17.
    Helios and Matheson Analytics Inc (NASDAQ: HMNY) shares rose 20.7 percent to $3.21 in pre-market trading after the company reported that RedZone has acquired all the assets of Trendit including three technology patents.
    Forestar Group Inc. (NYSE: FOR) rose 13.1 percent to $16.05 in pre-market trading after D.R. Horton, Inc. (NYSE: DHI) proposed to buy 75 percent of Forestar Group for $16.25 per share in cash.
    TG Therapeutics Inc (NASDAQ: TGTX) shares rose 12 percent to $15.50 in pre-market trading after the company said Phase 3 GENUINE trial met primary endpoint with TG-1101 + ibrutinib increasing overall response rate by >70 percent versuss ibrutinib alone.
    Gigamon Inc (NYSE: GIMO) gained 10.8 percent to $43.55. Reuters reported that Gigamon is exploring a potential sale.
    BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) rose 8.7 percent to $6.00 in pre-market trading after the company announced Rapivab pediatric sNDA acceptance by the FDA.
    Array Biopharma Inc (NASDAQ: ARRY) rose 7.2 percent to $8.77 in pre-market trading after gaining 5.68 percent on Friday.
    Ehi Car Services Ltd (ADR) (NYSE: EHIC) shares rose 6.4 percent to $10.76 in pre-market trading. eHi Car Services posted Q1 earnings of $0.06 on sales of $89.43 million.
    Skyworks Solutions Inc (NASDAQ: SWKS) rose 5.9 percent to $114.79 in pre-market trading after gaining 0.69 percent on Friday.
    Sorl Auto

Top 5 Performing Stocks To Watch Right Now: Sociedad Quimica y Minera S.A.(SQM)

Advisors’ Opinion:

  • [By Beth McKenna]

    Most investors interested in gaining exposure to the lithium space should stick with investing in one or more of the large players listed on a major U.S. stock exchange:Albemarle Corporation(NYSE:ALB), FMC Corp. (NYSE:FMC), andSociedad Quimica y Minera de Chile(NYSE:SQM), or SQM. Smaller players are speculative to varying degrees, and most are unprofitable.

Top 5 Performing Stocks To Watch Right Now: Nutraceutical International Corporation(NUTR)

Advisors’ Opinion:

  • [By Lisa Levin]

    Non-cyclical consumer goods & services sector was the top gainer in the US market on Monday. Top gainers in the sector included Nutraceutical Int'l Corp. (NASDAQ: NUTR), BRF SA (ADR) (NYSE: BRFS), and Chefs' Warehouse Inc (NASDAQ: CHEF).

Top 5 Performing Stocks To Watch Right Now: Eastman Kodak Company(KODK)

Advisors’ Opinion:

  • [By ]

    Even Kodak (NYSE: KODK) is on the blockchain bandwagon.

    Shares of the print and film company spiked more than 328% in the two-day period ending January 10, 2018.

  • [By William Patalon III]

    The first trade spat that I covered during my newspaper days was one back in the mid-1990s that pitted Eastman Kodak Co. (NYSE: KODK) against Fujifilm Holdings Corp. (OTC ADR: FUJIY).

  • [By William Patalon III]

    One of those analysts was a gent named Michael W. Ellmann, a onetime Shakespearian literature professor who’d become a securities analyst for Wertheim Schroder & Co. in New York. Michael was covering Eastman Kodak Co. (NYSE: KODK) for Schroder when I took over the Kodak beat for Gannett Newspapers, and we became fast friends.

Top 5 Performing Stocks To Watch Right Now: Gartner, Inc.(IT)

Advisors’ Opinion:

  • [By Lisa Levin]

    CEB Inc. (NYSE: CEB) shares were also up, gaining 21 percent to $74.90 after Gartner Inc (NYSE: IT) announced plans to acquire the company for $2.6 billion in cash and stock.