Friday Charts: Rebalancing Acts, Billionaires In The Prairies
Louis Basenese | Jan 03, 2014 06:09AM ET
Why use lots of words when a handful of pictures will suffice?
That’s the philosophy I embrace each Friday when I share a few graphics to put important economic and investing news into perspective for you.
So, like a wrecking ball (sans Miley Cyrus), here comes the first edition of 2014′s Friday Charts…
The Bull Gets Gored… or Not
Remember when everyone feared that a Fed taper would abruptly end the bull market?
Well, the Fed announced a taper in December… and stocks kept hitting new highs.
And remember when everyone feared that interest rates rising above 3% again would put a stop to runaway stock prices?
Not so much…
In the final week of 2013, 10-Year Treasury yields hit a two-and-a-half-year high at 3.02%. Yet stocks maintained their upward momentum…
“The market loves to prove people wrong,” says Bespoke Investment Group. Indeed!
So, loyal readers, let’s conduct a little experiment, shall we?
I present to you the toughest question for 2014: What do you think will finally gore this bull market?
Billionaires Flocking to the Prairie
Who needs Swiss bank accounts when we have South Dakotan dynasty trusts?
You see, according to Bloomberg, in the past four years, the amount of money sheltered from the long arm of the IRS in the state tripled to $121 billion.
“We have a tax haven in our midst,” says Edward McCaffery, a professor at the University of Southern California’s Gould School of Law.
You think?
If borrowing costs for the federal government keep rising, which they will, it’s only a matter of time before Sioux Falls becomes the hot topic in Washington, D.C.
Enough with the observations, though. It’s time for an opportunity…
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