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Jim Rogers thinks there’s a 100% chance of a US recession within a year (Bloomberg)
Rogers Holdings chairman Jim Rogers thinks there’s a 100% chance of a US recession within a year, according to Lucas Kawa. Rogers, however, says he is still long the US dollar.
“It’s been seven years, eight years since we had the last recession in the U.S., and normally, historically we have them every four to seven years for whatever reason — at least we always have,” he told Bloomberg’s Guy Johnson. “It doesn’t have to happen in four to seven years, but look at the debt, the debt is staggering.”
US senator Elizabeth Warren pressed FINRA chairman and CEO Richard Ketchum on what the industry-funded self-regulator is doing to protect investors, reports Mark Schoeff Jr.
“Under questioning by Ms. Warren, Mr. Ketchum said that Finra is addressing recidivism. But the answer didn’t satisfy the senator,” reported Schoeff.
“Our view is akin to dating vs. marrying. A lot of the action recently has been from folks that are simply ‘dating’ stocks — no long-term commitment, trying different things out, never settling on a set path — exciting at times but ultimately mostly exhausting and unsatisfying,” write Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop.
“We suggest investors take an approach more like marriage — a long-term, stable commitment, sticking with the plan through ups and downs, knowing there will be good times and bad, but hopefully ultimately fulfilling in the long term.”
Advisors should seriously consider embracing online reviews (WealthManagement.com)
Online reviews might seem silly to some advisors. But in the era of Yelp and other online review services, they should seriously consider it.
“Millennials and Gen Xers are more likely to consult these Yelp-like environments, and advisors who refuse to participate will be penalised,” says Jill Gonzalez of WalletHub, which aspires to be the Yelp of financial advisors.
RTD absorbed Pinnacle (FA Magazine)
RTD Financial Advisors Inc., a Philadelphia-based financial services firm, acquired Pinnacle Financial Advisors LLC of Marlton, NJ, Karen Demasters reports.
“After the merger, RTD will have $1.2 billion in assets under management. Both firms are well-known for embracing a holistic approach to financial life planning,” she added.
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