Investors embrace the risk-on mood and stocks are flying high
Today's menu: Risk is on! Plus: Nasdaq 100 nears 13-year high, Yellen sees housing trouble but can only watch, treating homeownership like a real investment, where money managers are made, and Congress proves to be the sweetest gig of all.
- It is risk-on across the board and safe-haven gold keeps falling. What happened to the notion of selling in May and going away? A positive tone for investors
- Tech-heavy Nasdaq 100 Index is closing in on a 13-year high. This has the makings of a summer rally for the ages; just don’t look down. The index is up 3.9% this month
- Janet Yellen sees the housing slowdown and realizes there is little she can do about it. The Fed can’t influence lagging household formation, stingy lenders, and wary borrowers
- Taking a more sophisticated approach to homeownership by measuring home-equity risks against the rest of the portfolio. A house can be as risky as a stock and should be treated that way
- The University of Pennsylvania, where money managers are made. Harvard and Columbia fill out the top three schools spawning portfolio managers. 38% of asset managers hold just a bachelor’s degree
- It’s nice to see seniors staying active, but 40 or 50 years in Congress seems a little extreme. Power, money and a generally sweet gig proves to be a potent addiction. 90 is the new 70
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