College is expensive, but there is one place in higher education where there’s no shortage of money — endowments. There’s more than $616 billion worth of endowments assets in the U.S. Most of that endowment wealth lies with a few affluent schools, such as Harvard with its $39.2 billion. Lawmakers are starting to question why
Month: March 2019
Brazilian stocks are off to a solid start in 2019, but whether they can continue to climb depends on one major policy shift: reforming Brazil’s overcrowded public pension system. Brazil’s benchmark stock index — the Bovespa — reached an all-time high earlier this month and is up 8.6 percent for the year. The most widely
Pinterest Co-founder Evan Sharp was added to the company’s board of directors this month, according to a company filing on Friday. The addition comes in an update to Pinterest’s IPO paperwork with the SEC, exactly one week after the company’s first public filing. It means the company now has two insiders on its board —
Things are looking uncertain for filers hoping to get a break on their 2018 federal taxes by contributing to state-run charitable funds. The Tax Cuts and Jobs Act, which went into effect last year, limited to $10,000 the state and local tax (SALT) deduction filers can claim on their federal returns. And only taxpayers who
While Lyft was preparing to go public this week in an IPO valuing the rideshare company above $20 billion, Facebook was preparing for something else: a lawsuit from the federal government over discriminatory housing ads. That probably wasn’t in the minds of investors back in 2012 when the social network was the Silicon Valley start-up
Betting on Wells Fargo might not be a safe bet, according to one strategist. The stock caught Wall Street’s attention Thursday following the company’s announcement that CEO Tim Sloan was retiring effective immediately. Shares initially surged on the news in after-hours trading before reversing and shedding over 1.5 percent in Friday’s session. But even these
The terms “wealth management” and “viral sensation” are rarely used in the same sentence. Andy Rachleff, co-founder of the robo-advisor Wealthfront, is betting his retirement years he can change that. After a career spent investing in Silicon Valley start-ups, Rachleff is looking to take robo-advising the way of household tech names like Netflix. He and
Tucked away in President Donald Trump’s 2017 tax cut was a little discussed provision that allows investors to potentially save big on capital gains. By investing in underserved rural and urban communities called “opportunity zones,” investors can defer or even avoid capital gains taxes on asset sales. These risk zones represent a potential windfall for
The Dow is having its best start to the year since 2013. The blue-chip index rallied 10 percent in the first quarter, helped along by strong gains in Cisco, IBM, and Apple. Now, two market watchers agree that there’s one name in the group to play for a catch-up trade: Pfizer. TradingAnalysis.com’s Todd Gordon argues
The first quarter has been a banner period for Wall Street. The S&P 500 is up more than 12 percent this quarter and is on pace to notch its best start to a year since 1998. The broad index is also set to post its biggest one-quarter gain since 2009. Accompanying the S&P 500 in
CNBC’s Jim Cramer reminded investors not to step into a battleground stock, a situation where passionate bears are in a standoff with passionate bulls and there’s no where to go. “When you get a situation like Monster where a stock keeps getting mauled by the bears, but a couple of heroic analysts remain bullish, that’s
These days, it seems some parents are willing to do whatever it takes to get their kids into what they think is the “right” college. While cheating and bribing, which are core allegations in the recent Operation Varsity Blues college admissions scandal, is a clear no-no, other parental “help” — such as editing, writing or
You don’t need a million dollars to live a luxurious retirement — so long as you’re willing to leave the United States behind. “Most people assume that a high-flying existence like that is the purview of the rich and famous alone,” said Jennifer Stevens, the executive editor of International Living. They’re wrong, Stevens said. The
Lyft’s $87 opening price is a “win for the system,” even though it may have been a loss for investors that were overeager, CNBC’s Jim Cramer said Friday. “I cannot stress this enough: we’re at the start of an IPO season that looks on track to bring a trillion dollars’ worth of companies public,” the
John Delaney understands investing. Before entering politics, he made a fortune by founding finance companies that raised $20 billion in capital for businesses. Which lends extra credibility to one proposal in Delaney’s long-shot 2020 presidential campaign. He wants to raise the 20 percent top tax rate on long-term capital gains, saying investors no longer need
Stocks head into the second quarter propelled by the best quarter in nearly a decade as the long tepid IPO market starts to simmer again. But the markets also face a reality check in the week ahead with some key data that could help clarify whether the economy is losing steam or just stumbling through
Shares RH, the company formerly known as Restoration Hardware, plunged nearly 19 percent Friday morning after it cut its 2019 forecast, suggesting that the company’s new strategy will take longer to pay off than originally expected. Late Thursday, RH posted its fiscal fourth-quarter results, which were mixed as revenue fell short of expectations. The high-end
Tim Sloan’s decision to step down as chief of Wells Fargo hinged in part on a looming congressional committee meeting on banks next month, CNBC’s Jim Cramer said Friday. The top brass of the big banks will be in Washington, D.C., on April 10 for the House Committee on Financial Services hearing on banks. The
A single ticket sold in Wisconsin matched all six numbers in the Wednesday night Powerball drawing to win the third-largest jackpot in U.S. lottery history. Due to strong ticket sales, the jackpot climbed to an estimated $768.4 million at the time of the drawing with a cash option of $477 million. Powerball said the winning
As funding for coal- and gas-fired power generation continues to decline, investors long leery of so-called “clean tech” plays are taking a shine to renewable-energy start-ups and other carbon-reducing technologies. According to reports from the International Energy Agency, electricity investments are flowing toward renewables, networks and flexibility, while at the same time more than 100
Tim Sloan resigned, following the market closed, as chief of the scandal-plagued Wells Fargo even though he delivered a quarter that exceeded expectations, CNBC’s Jim Cramer said Thursday. After a 31-year career with the bank, Sloan said he felt like he had become a distraction at the company because of the “endless harangues from Washington
The third-largest jackpot in U.S. history has a winner. A single ticket sold in Wisconsin matched all six numbers in Wednesday night’s Powerball drawing to land the $768.4 million top prize. For whoever is holding that valuable slip of paper, life is about to get a bit crazy. “Everyone who buys a ticket dreams of
European shares are set to start Friday’s session in positive territory, with investors hopeful of progress in U.S.–China trade talks. Britain’s FTSE 100 is seen 30 points higher at 7,263, Germany’s DAX 41 points higher at 11,472 and France’s CAC up 28 points to 5,323, according to IG index data. Market players turned their focus
DowDuPont cut its forecast for first-quarter sales on Thursday, citing the impact of U.S. Midwest floods on its agri business as well as weakness in its packaging and specialty plastics division. Record floods have devastated a wide swath of the Farm Belt across Iowa, Nebraska, South Dakota and several other states, idling ethanol plants, slowing
A growing number of parents are refusing to get their kids vaccinated, especially in wealthier and more highly educated pockets of the country, according to 2018 data from Blue Cross Blue Shield. The Long Island community of Nassau, New York — home to some of of the wealthiest neighborhoods in the state — has the
If you turned 70½ in 2018 and you still haven’t taken your first required minimum distribution from your individual retirement account, you’re almost out of time. The IRS requires individuals holding retirement accounts such as IRAs and 401(k) plans to start taking withdrawals from those accounts by April 1 in the year after they’ve turned
Values-aligned investing is called by many different names, which are commonly misused or misunderstood by investors. Let me decode the lingo, because a shared understanding of the terminology makes this type of investing more accessible to advisors and investors alike. Please note that there are no universally agreed upon definitions among professionals, and everyone uses
Investors should think about buying some individual stocks as about a trillion dollars worth of companies are due to go public, CNBC’s Jim Cramer said Thursday. Index funds, as promoted by the late John Bogle, typically beat most individual money managers in the long run, but Cramer said some stocks are popping as the major
Warren Buffett, chairman and CEO of Berkshire Hathaway, said Thursday that economic growth has lost some steam recently. “It does look like the pace of increase in the economy has slowed down,” Buffett, who is known as the Oracle of Omaha, told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine,
Check out the companies making headlines after the bell: Shares of Wells Fargo jumped more than 3 percent after market close Thursday following news that the bank’s CEO Tim Sloan is retiring. Sloan was under pressure to step down, especially from lawmakers like Sen. Elizabeth Warren. The bank’s general counsel Allen Parker will take over
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