Just When You thought Markets Couldn’t Get Nuttier…

The stock market ripped higher again yesterday. The last couple of days, the Nasdaq, Nasdaq 100, Dow and S&P, have gapped higher with the former two making new highs. Why? Apparently because Trump’s tax plan is about to be revealed. Do we need to be reminded that Trump’s health care, extreme vetting, infrastructure and border wall initiatives have all failed? Thank goodness for Syria and North Korea, where Trump can make decisions without Congress.

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Pensions: Do You Know Where Your Retirement Is?

As you know, dear reader, I have been following the pension issue for the last year. Here are just some recent headlines: from Texas, “Without a Fix, Teacher Healthcare Fund is Empty Next Year”, from Modesto, California “City Considers Freeze on Hiring and Promotions as Pension Costs Loom”, and “Emotions Run High as Kentucky Retirement Systems Pension Hole Grows.” These stories go on and on and on.

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Broker Research and Other Bad Jokes

If you don’t want to know something, don’t ask the question.

The traditional Investment Banking equity research model is about to undergo a radical transformation. New regulations set to go into effect in 2018 in Europe require Investment Banks to break out the pricing of equity research charged to their buy side clients so that clients can be billed for research directly rather than paying indirectly through inflated commissions.

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