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Here’s what millionaires would do if they only had five years to live (UBS Wealth Management)
“If they only had five years to live, the overwhelming majority of millionaires (87%) would do things differently,” UBS Wealth Management writes. “As much time and energy as they spend on their careers, they would rather enjoy a wider range of experiences, such as travelling and spending time with family.”
UBS surveyed 2,215 of their US millionaire clients. If they found out they had five years to live, 64% said they would travel more, 61% said they would spend more time with their families, 37% said they’d be a better person, and 3% said they’d work hard to provide more for their families.
“Over the past 10 years, college tuition levels (and accompanying student debt levels) have risen sharply, while employment opportunities have diminished, and starting salaries have stagnated,” BlackRock’s Rick Rieder writes. “This unmitigated long-term acceleration in the cost of a university education doesn’t just have implications for college students and their families, it also matters for the broader economy.”
Rieder identified 4 headwinds to the economy: 1) contributing to unemployment and declining labour market participation; 2) stymieing savings; 3) suppressing home buying; and 4) worsening the class divide.
Janus Capital’s Bill Gross spoke with Bloomberg Television’s Erik Schatzker on Wednesday about the Fed, bond markets, and Pacific Investment Management Co.’s move to hire former Fed Chairman Ben Bernanke as an adviser.
On PIMCO hiring Bernanke, Gross said: “Obviously it’s a public relations effort….To be able to hook up with Ben Bernanke, I think it is. And that was one of the reasons why we did it with Alan Greenspan [when I was at Pimco], but we found out that there were some very positive benefits to it as well.”
WisdomTree’s Jeremy Schwartz recently spoke with Jeff Weniger, Investment Strategist at BMO Global Asset Management, about investing in emerging markets.
“While China is the largest weight (at 21%) in the MSCI Emerging Markets Index, Korea is a close number 2, at approximately 15% weight,” Schwartz writes. “With its industry focused on automobiles, semiconductors and electronics, Korea is currently the sixth largest economy in the world. If we were to consider the price-to-sales (P/S) ratio, South Korea is currently as attractively priced as it was in 2009.”
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