What we’re reading (9/9)
“Dow Jumps More Than 300 Points As US Stocks Break 3-Week Losing Streak After Dollar Falls From Recent Highs” (Insider). “The Dow Jones Industrial Average soared more than 300 points on Friday, cementing a three-day rally and breaking a three-week losing streak as both the US dollar and Treasury yields took a breather from their recent surges and moved lower.”
“Robinhood Unveils Index to Track Customers’ Favored Stocks” (Wall Street Journal). “Robinhood Markets Inc. is offering a peek into the favorite stocks of its millions of predominantly young, social-media-savvy customers. The brokerage firm’s new ‘Robinhood Investor Index,’ unveiled Friday, is designed to track the performance of the 100 investments most popular among its user base. Such an index could be of interest to financial professionals who monitor the activities of small investors as one of the underlying factors behind stock-market moves.”
“Behold Perhaps The Most Brazenly Incredible Investment Scam In History” (Dealbreaker). “Dear readers: There are damn-nigh undetectable scams. There are the sneaky ones, with claims that seem a bit too good to be true but with just enough trappings to make the claims believable. Then there is the whole universe of brow-raisers, head-slappers, whoppers; the incredible, the astounding, the chutzpah-laden, the literally unbelievable; in all shapes and sizes from the miniscule to the Madoffian." And then, friends, on a completely different order of magnitude, at least in respect of sheer gall and subsequent credulousness (and, of course, at the moment allegedly), there is this one[.]”
“Dissecting The Royal Family’s Wealth” (DealBook). “Dissecting the royal family’s financial empire isn’t straightforward. Last year, Forbes put the headline value of its holdings at $28 billion, theoretically making the Windsors one of the two richest clans in Britain. Among those holdings are instantly recognizable icons like Buckingham Palace and crown jewels. Also included are vast tracts of land, from office properties and a major cricket ground in London to farmland on Britain’s outer edges.”
“Confused About The Housing Market? Here’s What’s Happening Now – And What Could Happen Next” (CNBC). “The slowdown in the otherwise red-hot housing boom has been stunningly swift. The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. Now, real estate agents who once reported lines of buyers outside open houses and bidding wars on the back deck say homes are sitting longer and sellers are being forced to lower their sights.”
