From now on, I will continue to update this site as needed, but am focusing the majority of my time developing a new personal brand at the Mike Fanelli website. This site uses the new wp-vybe template produced by Solostream, which is very intuitive and user-friendly. This site will focus its content on providing financial literacy to people from Wall Street to Main Street. I hope to bridge the gap between Wall Street and Main Street, in order to educate people to make better personal finan... Read Full Story
As of Friday, October 24th:
206 companies in the S&P 500 have reported earnings for third-quarter 2008, 62% of the companies have beaten expectations, 11% were in-line, and 27% missed.
The blended earnings growth rate for the S&P 500 for Q3 2008, combining actual numbers for companies that have reported, and estimates for companies yet to report, fell to -11.0% from -10.9%.
On April 1st, the estimated growth rate for Q3 was 17.3%, and by July 1st, the estimated growth rate had fallen... Read Full Story
U.S. stock futures halted after hours following Asia plunge - which means the futures cannot go any lower, and stocks will begin trading once the market opens at 9:30 am EDT. According to the article, traders in Europe were simply staring at their screens earlier today, in disbelief. However, they shouldn’t be too surprised since the market volatility lately has been at all-time highs. The CBOE Volatility Index (^VIX) tracks market volatility, and has been all over the board lately.
... Read Full Story
On occasion, I enjoy reading the Harvard Business School (HBS) Working Knowledge Newsletter. A recent article (most of which are white papers) discussed whether the government should take advantage of the Buffett effect. Readers can also comment on the article, which makes it very blog-like.
What the article discusses is the recent moves by Warren Buffett by injecting capital into US public companies such as Goldman Sachs and GE. Instead of Buffett purchasing common stock, he purchased per... Read Full Story
Link by Link.
Great article by Economist.com, which details “The crash has been blamed on cheap money, Asian savings and greedy bankers. For many people, deregulation is the prime suspect.”
“…investmen bankers may have nothing to gain but their chains.”
“Once currencies could float, the world changed.”
“Companies with costs in one currency and revenues in another needed to hedge exchange-rate risk.”
“As banks’ business became... Read Full Story
The world markets took a hit today (again) upon market confidence levels decreasing, even with the recent Bailot Bill passed, and the Federal Government injecting capital positions into the nations top banks.
Dow: -7.87%
Nasdaq: -8.47%
S&P 500: -9.03%
Russell 2000: -9.47%
Yahoo! Finance headlines “Stocks plunge as new data points to a recession.” I’ve had some people ask me recently what exactly the definition of a recession is. Some people think that a sign... Read Full Story
I haven’t been blogging as much as usual lately, primarily due to a lack of time, not desire. Today’s entry is going to be a short one, but I wanted to share a new site that I came across this past week. It’s called FinViz.com, and seems like it has an extraordinarily good amount of financial data, for the trader in all of us. I really enjoy their home page, which seems at first to have too much information (information overload) however, I have visited the site a few tim... Read Full Story
Tomorrow morning from 7:30 am to 10:00 am I will be attending a RTP ACG event at the Sheraton Imperial in Durham, NC. The keynote speaker is Dan Ariely, who recently wrote a book “Predictably Irrational,” which is described below. I love hearing influential business people speak about various topics, but especially ones about employee behavior, economics, self-help, etc. Tomorrow should be a nice event, put on by the Association for Corporate Growth, which I am a member of. I ... Read Full Story
CNNMoney.com released an article yesterday which detailed the holding company of Emigrant Bancorp, Inc., unveiling a new online savings account which will provide “the highest interest rate in the country.” The account will offer a 3.75% savings rate on minimum deposits of $1K, which compares to 3.5% at HSBC Direct and 3% by ING Direct. We currently have an online savings account at E*trade which current touts a 3.3% online savings account. I like to keep our savings funds at E*... Read Full Story
