Tag Archives: Lipper

POCKETBOOK: Week ending Dec. 8, 2017

 

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My Bitcoin story at bottom of this blog. (Photo from Reuters)
  • Bulls

Last week’s AAII sentiment survey reflected that bull-o-mania continued to be alive and well in investors’ minds.

And, that that sentiment continued to break records: For 153 weeks straight that positive, making-money thinking has been going on, according to Bespoke.

That’s kinda scary as most investors know first-hand that bull markets don’t last forever—-even the most fertile of bulls need to take a rest every now and then.

Time to place your bets on when this one will.

 

  • Market Quick Glance

A few cracks in year-to-date and 1-year returns with all of the 1-year returns lower than they were the previous week.

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, December 8, 2017.

DJIA +23.11% YTD up from last week’s 22.61%.

  • 1 yr Rtn +24.03% down from last week’s 26.26%

Another new high for the DJIA was reached on December 4, 2017 of 24,534.04. The previous high was hit on Thursday, Nov. 30, 2017 of  24,327.82.

On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +18.43% YTD up a bit from last week’s 18.02%.

  • 1yr Rtn +18.04% down from last week’s +20.59%

The S&P 500 reached another new high on December 4, 2017 of 2,665.19. Its previous high was reached on November 30, 2017 of 2,657.74.

On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +27.07% YTD down a bit from last week’s +27.20%.

  • 1yr Rtn +26.26% down a lot from last week’s 30.40%

 

The Nasdaq reached a new all-time high of 6,914.19 oon Nov. 28, 2017. The previous high of 6,890.02 was reached on November 24, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +12.13%YTD down from last week’s +13.26%

•1yr Rtn +9.76% way down from last week’s +16.99%

The Russell 2000 reached a new all-time high on December 4, 2017 of 1,559.61. The previous high was reached on November 30, 2017 of 1,551.69.

On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

Cracks here, too.

Last week the year-to-date average cumulative total reinvested return for equity funds that fall under the broad U.S. Diversified Equity Funds heading, was +16.59% at the close of business on Thursday, December 7, 2017, according to Lipper. That’s down from the previous week’s return of +17.37%.

Fourteen of the 25 largest (most assets) funds around had year-to-date returns of over 20%. The most rewarding? The Fidelity Contrafund at +31.06%.

The least rewarding? Two of Vanguard’s bond funds: The Vanguard Total Bond II:Investors and the Vanguard Total Bond: Admiral. Both up +3.43% and +3.53% respectively.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

 

  • Betting on Bitcoin

I’ve been watching the per share prices on the Bitcoin Investment Trust (GBTC) for the past couple of years. Over the past year I’ve seen its share price go from a low of around $60 to a high of$1,905.55. And through it all I’ve thought about kicking  myself for not buying at least a couple of shares.

The reason I didn’t pull the trigger was because of its so hugely volatile stock price. One day GBTC would spike up and a few days later fall dramatically.

But more important than deciding to buy into that trust was coming up with an answer about when to sell the  shares.

I know myself well enough to know that if I had actually purchased shares at say 100 or even 300 bucks a share, I probably would have sold those shares when/if they doubled or tripled in price.

I believe in taking profits.

Oldsters might remember Fidelity’s super-duper fund manager Peter Lynch. Stocks that doubled in share price after he’d purhased them he refered to as a double-bagger. Those that tripled, a triple-bagger. And so on.

It’s not every day of the year, or week, or month that a stock’s price moves up by two-, three-, ten-fold or more. I know that.

I also know that it would have been real easy to have purchased GTBC at $100 a share, sell it at say $300 and then wish I had held on longer.

But the name of the Wall Street game isn’t about kicking yourself for what you didn’t do: It’s about making money for what you did do re your investment choices.  Then moving on.

So not knowing how high–or low–a stock price will move over time  is what makes investing such a seductive and mysterious game. And one not everyone is equiped to handle.

That said, as  I wrote earlier, I believe in taking profits.

And then  being glad they were there to be had–no matter how big or little the reward.

 

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POCKETBOOK: Week ending Nov. 24, 2017

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Could there be a bear in Wall Street’s future? The Vanguard Group thinks that there is now a 70 percent of a stock market correction.(Photo from CNBC)
  • Wal-Mart

If you’re looking for low-wage work, Wal-Mart is the place to apply. Why? For one, it’s the largest employer across America with over 1.5 million employees. And two, it’s the largest employer in nearly half of our nation’s 50 states—actually 22 states out of our 50.

Guess that helps to explain why so many people across our nation are financially challenged: low wage jobs don’t translate into financial security.

While that’s the way it is today, low-wage jobs from mega-corporations such as Wal-Mart haven’t always been in vogue.

Once upon a time working for big companies was in and came with substantial salaries and attractive benefits. Even for those without a high-school diploma or a college degree.

According to MyBudget360.com, looking back to the mid-1950s, when America was building cars, car parts and the fuel that made them run, the biggest employers were GM, Chrysler, U.S. Steel, Standard Oil of New Jersey, Amoco, Goodyear and Firestone.

It was good-paying jobs at companies like those, and those in other industries,  that created a growing and prosperous middle-class.

Now that’s all changed. As the middle-class dwindles and the numbers of low-wage jobs have increased along with  stagnant wages , workers struggle to pay their bills and get ahead.

That said, this holiday season is projected to be a big one for retailers. Like Wal-Mart.

Go figure.

 

  • Market Quick Glance

Last week was a short week with pretty good results.

 But before going there, Vanguard is telling its investors not to expect more than a 4 to 6 percent annual return from the stock market going forward for the next five years.

“It’s unreasonable to expect rates of returns, which exceeded our own bullish forecast from 2010, to continue,” said Joe Davis, Vanguard’s chief economist.

Makes sense to me.

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, November 24, 2017.

DJIA +19.20% YTD up from last week’s 18.19%.

  • 1 yr Rtn +23.45% down from last week’s 23.56%

Another new high for the DJIA of 23,617.8 was reached on November 21, 2017.

The previous high of 23,602.12 was reached on November 7, 2017. On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +16.24% YTD up from last week’s 15.19%.

  • 1yr Rtn +18.04% up from last week’s +17.91%

The S&P 500 reached another new high on November 24, 2017 of 2,604.21.

Its previous high of 2,597.02 was reached on November 7, 2017. On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +27.98% YTD up from last week’s +26.00%.

  • 1yr Rtn +28.04% up from last week’s 27.16%

The Nasdaq reached a new all-time high of 6,890.02 on November 24, 2017.

Its previous high of 6,806.67 was reached on November 16, 2017. On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +11.94%YTD up from last week’s +10.00%

1yr Rtn +13.19% down from last week’s +14.00%

The Russell 2000 reached a new all-time high of 1,524.18 on November 22, 2017.

Its previous high of 1,514.94 was reached on October 5, 2017. On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

Last week provided a solid  move upward in the year-to-date average cumulative total reinvested return for equity funds. Under the broad U.S. Diversified Equity Funds heading, the average fund was +15.55% at the close of business on Wednesday, November 22, 2017, according to Lipper. That’s up from the previous week’s return of +14.34%.

Leaving equity fund types aside, here are the year-to-date cumulative total reinvested returns for various fixed-income funds:

  • The average Ultra-Short Obligation Fund, + 11.28%.
  • Short/Intermediate Govt. & Treasury Funds,  +1.67%
  • Short /Intermediate Investment Grade Funds, +2.95%
  • General Domestic Taxable Fixed-Income Funds, +4.81%
  • And World Income Funds up7.19%.

Looking at the entire fixed-income group the average year-to-date return was +4.48% through11/22/17.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Forget cybershopping. Be fiscally wise. Use cash.

I was at J.Jill the other day purchasing myself a few holiday items. (The first person on my gift list is me, isn’t it you on yours?)

When it came time to pay my most excellent sales woman asked if I wanted to open a J.Jill credit card. She said that doing so would save me an additional 10% on my purchases that day and come with a bunch of other savings opportunities in the future. I declined. The last thing I need is another credit card. So I paid in cash.

Yes, cash. It’s still accepted at retailers you know,  but apparently is a bit of an oddity.

After I handed her the required cash, she commented that usually most people pay with credit cards but that the majority of those she had waited on this day were paying in cash.

I smiled and thought to myself about the benefits of paying with cash: No worries about somebody stealing my credit card number or hacking my bank accounts,  retailers don’t  have  to pay any fees to  credit card companies for using the cards, and best of all I don’t overspend.

And then there are the health benefits: Paying with cash gets you out of the house, moving and  socializing.

Cash: Looks like a win-win for everyone.

Try it.

 

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POCKETBOOK: Week ending Nov. 17, 2017

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Happy Thanksgiving from my family’s table to yours.
  • One more time: We don’t need tax reform

More than anything in the world, the Republican party wants to make sure that they accomplish something during the first 300-and-some days since the President Trump has been in office.

Doing something is a good idea. Tax reform, or whatever it winds up being called, isn’t.

Here’s the main reason why I think that is so: When taxes are cut, somebody or something has to pay in one way or another to cover the government coffer shortfalls the tax cuts create.

Any decrease in monies flowing in will translate into an increase in America’s defecit and could make unwelcomed changes to things such as our Vet’s programs,  Medicare, Medicaid, SNAP and other much needed government funded impacts-people programs.

Plus, while 800-to-1200 bucks a year in savings for the average person amounts to something,  the cuts will more than likely cost middle and lower-income people more than that with respect to their annual  health care costs and deductions allowed on their tax returns depending upon the state in which they live.

And, history has shown that the trickle-down talk of how tax reforms/cuts translate into more jobs and higher wages is just that—talk. The same kind of poppycock talk similar to the election promises Trump made to the coal miners telling them that their coal jobs would be coming back.

Or the Paul Ryan talk about how America has been in a horrible mess ever since the Great Recession began. Someone must not have shown him a chart showing  that GDP growth has been being improving since that recession or one showing  the roaring returns that the stock market has provided investors. Or the one with a snapshot of how corporations already have tons of money on their balance sheets available for spending should they desire to spend it.

If the party in power wants to make a positive impact, why not pass a bill that creates jobs focused on improving our country’s roads, bridges and all around infrastructure? Or one that limits the types and number of guns individuals can own? Or requires background checks for anyone purchasing a gun at a trade show, or online? Or provides health care for all without strings attached?

Those kinds of changes would make a big everyday difference in the lives of most Americans.

Tax cuts not so much.

But no matter how you feel, why call your state Senator’s office today and voice your “yeah” or “nay” on the subject.

 

  • Market Quick Glance

A bit of a downer last week. But if history is any guide, Thanksgiving week is more often than not a good week for stocks in the S&P 500.

According to the fine folks at the Bespoke Investment Group, the S&P 500 has averaged a gain of 0.65% during the four-day Thanksgiving week. “And in years when the S&P is up 10%+ YTD heading into Thanksgiving week (as it is this year), returns during the week are even stronger.”

We shall see….

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, November 17, 2017.

DJIA +18.19% YTD down from last week’s 18.52%.

  • 1 yr Rtn +23.56% down from last week’s 24.27%

 

The DJIA most recent all-time high of 23,602.12 was reached on November 7, 2017.

Its previous high of 23,557.06 was reached November 3, 2017. On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +15.19% YTD down from last week’s 15.34%.

  • 1yr Rtn +17.91% down from last week’s +19.31%

The S&P 500 reached its most recent new high on November 7, 2017 of 2,597.02

Its previous high of 2,588.42 was reached on November 3, 2017. On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +26.00% YTD up from last week’s +25.66%.

  • 1yr Rtn +27.16% down from last week’s 28.91%

The Nasdaq reached a new all-time high of 6,806.67 on November 16, 2017.

Its previous high of 6,795.52 was reached on November 7, 2017. On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +10.00%YTD up from last week’s +8.71%

1yr Rtn +14.00% down from last week’s +15.04%

The Russell 2000 reached a new all-time high of 1,514.94 on October 5, 2017. On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

Moving up a tiny bit.

The year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds was +14.34% at the close of business on Thursday, November 16, 2017, according to Lipper. That’s up from the previous week’s return of +14.24%.

  • The highest and lowest average y-t-date returns under the U.S. Diversified Equity Funds heading were:

-Highest: Equity Leverage Funds, +33.72%

-Lowest: Alternative Equity Market Neutral Funds, -0.18%

The average return for funds under this heading was +14.34%.

 

  • The highest and lowest average y-t-date returns under the Sector Equity Funds heading were:

-Highest: Global Science/Technology Funds, +46.84%

-Lowest: Energy MPL Funds, -11.68%

The average return for funds under this heading was +9.76%%.

 

  • The highest and lowest average y-t-date returns under the World Equity Funds heading were:

-Highest: China Region Funds, +43.84%

-Lowest: Global Equity Income Funds, +13.62%

The average return for funds under this heading was 24.72%.

 

  • The highest and lowest average y-t-date returns under the Mixed Asset Funds heading were:

-Highest: Mixed-Asset Target 2055+Funds, +17.54%

-Lowest: Alternative Multi-Strategy Funds, +3.26%

The average return for funds under this heading was 11.28%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • What’s up for 2018?

There’s already been lots of speculation going on about how the markets will perform in 2018 and Jack Bogle, founder of Vanguard, is one of them forecasting.

Bogle, who is now retired, is predicting that going forward into the New Year and beyond that the U.S.  market will be a better bet than global markets; average returns on stocks are going to be much lower—as in the 4% annual return area—over the next 10 years; and bond portfolios will increase into the +3% average annual 10-year returns.

More than one experienced talking head agrees.

Wishing you plenty to be thankful for and a happy thanksgiving week.

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POCKETBOOK: Week ending Oct. 27, 2017

 

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  • Taxes down; deficit up

One of the many things that puzzles me about the Republican’s tax reform policy suggestions is how this party that historically has focused on our keeping a lid on our nation’s deficit now wants to increase it. Tax cuts would do that.

Goofy isn’t it.

And depending upon the reports you read, annual deficits resulting from those tax cuts could amount to $1 trillion annually.

How very un-Republican.

Then again, plumping up our deficit would give way to the opportunity for Republicans to begin clamoring once again about getting rid of, by either reducing or privatizing, the benefits that millions of Americans have paid in to for years and expect— Social Security.

Oh, now I get it.

 

  • Market Quick Glance

And the truly remarkable continues. Just not quite as remarkably.

With the exception of the Russell 2000 which closed lower this week than it had the week before, all three other indices edged higher.

Re the S&P 500, it was technology stocks that helped inch that index upward. On Friday, the Technology sector rallied 2.6% in one day, according to the Bespoke Investment Group. That’s big. Could it be a sign of things to come? Who knows.

But what we do know is that Tech stocks now make up 24.2 percent  of the sector weightings in the S&P 500 index, say the folks at Bespoke. That’s big, too. Next in weightings come Financials, at 14.8%. That’s nearly 10% less that the Technology sector holdings.

Behind the Financial sector weightings come the following: Health Care, 14.3%; Consumer Discr, 11.8%; Industrials, 10.2%; Consumer Staples,8.0%; Energy, 5.8%; Utilities, 3.2%; Materials, 3%; Real Estate, 2.9%; and Telecom,1.9%

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, October 27, 2017.

 

-DJIA +18.58% YTD up a bit from last week’s 18.04%.

  • 1 yr Rtn +28.97% up from last week’s 28.44%

Another new all-time high was reached on the DJIA of 23,485.25 onTuesday, October 24, 2017.

The previous high of 23,328.84 was reached on October 20, 2017.

On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +15.29% YTD up from last week’s 15.02%.

  • 1yr Rtn +21.00% up from last week’s +20.26%

The S&P 500 reached a new high of 2,582,98 on Friday, October 27, 2017.

It’s previous high of 2,575.33 was reached on October 20, 2017.

On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +24.49% YTD up from last week’s +23.15%.

  • 1yr Rtn +28.48% up a chunk from last week’s 26.46%

 

The Nasdaq reached a new all-time high of 6,708.13 on Friday, October 27, 2017.

The previous high of 6,640.03 was reached on October 20, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +11.14% YTD down from last week’s +11.21%.

  • 1yr Rtn +26.75% up considerably from last week’s +23.73%

The Russell 2000 reached a new all-time high of 1,514.94 on October 20, 2017.

Prior to that, its previous high of 1,514.94 was reached on October 5, 2017.

On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

At the time of this posting Sunday, October 29, 2017, I had not received Lipper’s weekly mutual fund performance figures.

I’m going to guess that while year-to-date total equity returns have changed—and quite likely in an upward direction—they probably didn’t change by much. So what follows below is a repeat of last week’s, October 19 results.

The year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds moved up a bit when posted at the close of business on Thursday, October 19, 2017. It stood at 13.75%, accord to Lipper. The previous week it was 13.54%.

Comparing this week’s Thursday figures to last week’s, the average Sector Fund had a year-to-date total return of 9.53%, down a bit from the week earlier figure of 9.83%.

This week, the two fund types with y-t-d average figures of over 30% were the same fund types—Global Science & Technology funds up on average 39.47% ( last week’s figure 39.38%) and your basic Science & Technology funds, +32.39% ( up from last week’s figure of 32.01%).

World Equity Funds were down a hair from where they were last week at 24.44%, the week previous the figure was 24.54%. Four of them still had year-to-date average returns up over 30%: China Region Funds at +38.39% and down from last week’s +39.04; Pacific Ex-Japan Funds, 33.82% also down from last week’s +33.61%; India Region Funds, +32.32% up from last week’s+32.05; and Latin American Funds, +30.39% down from last week’s 30.94%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Another Presidential Pinocchio

President Trump loves to boast. I think he gets off on it. At least that’s what his less-than Presidential behavior has shown us: Don’t clap and cheer wildly during what he says at one of his functions, or White House meetings, and he pouts, bullies others and sends all sorts of unnecessary tweets out into the universe. Sad.

But when it comes his boasting about the U.S. stock market, while there is no denying the bulls have been running it over the past nine years,  The Donald’s time in the White House hasn’t resulted in him having the hottest market. President Barak Obama holds that record.

According to a Bloomberg.com piece dated October 27, 2017 by Nick Baker, “All stocks across the globe are valued at $89.9 trillion. U.S. shares make up only 31.6 percent of that total. That’s the lowest proportion since November 2011, or a few months after the U.S. flirted with default. And it’s sunk from the 11-year high of 38.3% set in December under then-President Barak Obama.”

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POCKETBOOK: Week ending Oct. 13, 2017

FullSizeRender(31)•The Donald’s Pinocchio nose

If our current president had a Pinocchio nose, well, I can hardly imagine how extended it would by now be given his record of telling the truth while President of the United States. Day-to-day tweets and truth-telling during his time in office haven’t gone hand in hand.

Take for instance, this example from Trump tweet dated Oct. 16, 2017: “Since Election Day on November 8, the Stock Market is up more than 25%, unemployment is at a 17 year low & companies are coming back to U.S.”

Looking only at stocks, aaccording to MarketWatch.com, if one defines “the Stock Market” as the DJIA, the president is accurate. But if the market he’s speaking of is the S&P 500, he’s off. It hasn’t gained that much. FactSet reports that index up 22%.

That little half truth will extend his Pinocchio nose a little bit more.

But let’s go back to that DJIA. Some stocks in it have performed incredibly well since his inauguration. But not all. The top three total return performers from Nov.8 through Oct.13 were Boeing(BA) up 88%, Caterpillar (CAT) up 58% and McDonald’s (MCD) up 43%, according to FactSet.

The three worst total return performers over that same time period  were: General Electric, (GE) down 19%, International Business Machines (IBM) down 2 % and Exxon Mobil (EX) down 1 %.

Forgetting stocks, a bigger not-telling-the-truth story from Trump is his one about tax cuts. Lots of fudging in what’s being said there including the fact that salaries will increase by thousands of dollars each year for worker bees. Hog wash.

And so is the need for tax cuts in the first place. One simple reality: Think for a moment of all the expenses and costs that are being racked up because of the hurricanes, storms, fires, etc. that have happened over the past few weeks. Where is all of the billions of dollars going to come from to cover those costs? Not tax cuts.

The Republicans say that we need tax reform for one reason and one reason only: For the Republican Party to be able to say they have accomplished something.

Your average American needs tax reform about as much as they need to see the president’s  Pinocchio nose grow another inch.

 

  • Market Quick Glance

Truly remarkable. As of last Wednesday, the DJIA had enjoyed 53 record high closes this year, according to CNBC. The S&P 500, 62 times. And then Friday rolled around and both indices closer higher again.

Is there no ending to this bull run? Yes and no. Yes, bulls always trip and markets always turn. No, no precise way of knowing when or what triggers the fall.

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, October 20, 2017.

-DJIA +18.04% YTD up significantly from last week’s 15.73%.

  • 1 yr Rtn +28.44% up from last week’s 26.37%

And another new all-time high for the DJIA. This one of 23,328.84 was reached on October 20, 2017.

The previous high of 22,905.33 was reached on October 13, 2017.

On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +15.02% YTD up from last week’s 14.04%.

  • 1yr Rtn +20.26% up from last week’s +19.72%

The S&P 500 reached its latest new high of 2,575.33 on October 20, 2017.

Its previous high of 2,556,65 was reached on week earlier on October 13, 2017.

On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +23.15% YTD up from last week’s +22.71%.

  • 1yr Rtn +26.46% down from last week’s 26.71%

The Nasdaq reached a new all-time high of 6,640.03 on October 20, 2017.

Its previous high of 6,,616.58 was reached on October 13, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +11.21% YTD up from last week’s +10.72%.

  • 1yr Rtn +23.73% up considerably from last week’s +23.60%

The Russell 2000 reached a new all-time high of 1,514.94 on October 20, 2017.

Its previous high of 1,514.94 was reached on October 5, 2017.

On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

Average year-to-date returns up once again.

The year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds moved up a bit when posted at the close of business on Thursday, October 19, 2017 and  stood at 13.75%, accord to Lipper. The previous week the return was 13.54%.

Comparing this week’s Thursday figures to last week’s, the average Sector Fund had a year-to-date total return of 9.53%, down a bit from the week earlier figure of 9.83%.

This week, the two fund types with y-t-d average figures of over 30% were the same fund types—Global Science & Technology funds up on average 39.47% ( last week’s figure 39.38%) and your basic Science & Technology funds, +32.39% ( up from last week’s figure of 32.01%).

World Equity Funds were down a hair from where they were last week at 24.44%, the week previous the figure was 24.54%. Four of them still had year-to-date average returns up over 30%: China Region Funds at +38.39% and down from last week’s +39.04; Pacific Ex-Japan Funds, 33.82% also down from last week’s +33.61%; India Region Funds, +32.32% up from last week’s+32.05; and Latin American Funds, +30.39% down from last week’s 30.94%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • IPO advice

 When I was a broker, getting in on a hot IPO was something many investors clamored to do in hopes of making some quick bucks  knowing well in advance that the likelihood of their orders being filled wasn’t guaranteed.Of course, that was during the last century.

Today, astute investors have learned that jumping on a company’s IPO gun before it fires can backfire. Especially if the company has no profits before going public.

To minimize that kind of IPO risks, Investor’sBusinessDaily offers these smart and common sense tips for IPO wannabees:

  • Don’t buy an IPO stock until it forms and breaks out of its first base.
  • Focus on profitable companies showing technical strength.
  • Cut losses short if the trade goes against you.

 

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POCKETBOOK: Week ending Oct. 13, 2017

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  • Inflation

 The wicked stepmother in the world of money is inflation. Like that hateful woman, should you know one, does all of her nasty business right in front of your very eyes without you noticing. Until it’s spending time and you find out the money you thought you had doesn’t nearly buy the same amount of goods and services it once did.

Like I said, it happens right in front of your very eyes.

Jack A. Ablin, BMOs chief investment officer, wrote about inflation in his most recent Current Market Update. Here’s history about inflation taken from that Update: “In an economic expansion spanning nearly 10 years, one missing ingredient has been inflation.  Year over year inflation has remained stubbornly below three percent consistently for more than six years.  Lackluster pricing power has vexed business leaders and the Federal Reserve who both would like to see incremental price growth.  Headline inflation has fallen short of the Fed’s two-percent target in 66 of the last 100 months.  Moreover, 2011 was the last calendar year when inflation hit three percent.  The trend has picked up marginally between 2014 and 2016, but last year’s inflation rate was a tepid 2.1 percent. ….”

If you’re wondering when inflation’s bite will get stronger, Ablin wasn’t specific. But he points out that if inflation flares up when there is no economic growth happening, that would represent a “bull markets financial threat.”

We shall see…

 

  • Market Quick Glance

Nothing spooky about Friday the 13th for three of the four indices followed below. All, with the exception of the Russell 2000, reached brand new highs.

All of this new high stuff is getting a little boring, if you ask me. And hard to figure if you’re looking for why’s from the talking heads. One of whom said that this market is going to continue upward as long as there are bundles of cash sitting on the sidelines.

Which– those in the know– say there is.

Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, October 13, 2017.

-DJIA +15.73% YTD up a tad from last week’s 15.24%.

  • 1 yr Rtn +26.37% up from last week’s 24.66%

And another new all-time high for the DJIA. This one of 22,905.33 was reached on October 13, 2017.

Its previous high was reached October 5, 2017 at 22,777.04.

On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +14.04% YTD up from last week’s 13.87%.

  • 1yr Rtn +19.72% up from last week’s +17.98%

The S&P 500 reached a new high of 2,556,65 on October 13, 2017.

The previous high of 2,552.51 was reached on October 5, 2017.

On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +22.71% YTD up a tiny bit from last week’s +22.42%.

  • 1yr Rtn +26.71% up from last week’s 24.18%

The Nasdaq reached a new all-time high of 6,,616.58 was reached on October 13, 2017.

Its previous high of 6,590.18 was reached on October 5, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +10.72% YTD down from last week’s +11.28%.

  • 1yr Rtn +23.60% up considerably from last week’s +21.18%

The Russell 2000 reached a new all-time high of 1,514.94 on October 5, 2017.

Its previous high of 1493.56 was reached on September 29, 2017.

On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

Even with a week resulting in new highs for many indices, the year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds didn’t move much. It closed with a 13.54% average return on Thursday, October 12, 2017, according to Lipper. That’s down a tiny bit from the previous week’s figure of 13.65.

The average Sector Fund had a year-to-date total return of 9.83% with two fund types under that heading up over 30%: Global Science & Technology funds up on average 39.38% and your basic Science & Technology funds, +32.01.

World Equity Funds were up on average 24.54%. Four of them have year-to-date average returns up over 30%: China Region Funds, +39.04; Pacific Ex-Japan Funds, +33.61%; India Region Funds, +32.05; and Latin American Funds, +30.94.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

•Best and worst ETFs

 There’s no overlooking the popularity of Exchange Traded Funds, ETFs. Their popularity and investment choice numbers have grown faster than, I’m gonna guess here, even Wall Street wizards could have ever imagined.

Knowing that, below are the three best and three worst ETF performers year-to-date through October 10, 2017 from ETFTrends.com:

  • Best: Ark Inovation (ARKK) up 74.3%; WisdomTree China Ex State Owned Enterprises Fund (CXSE) up 70.8%; and Kraneshares CSI China Internet ETF, (KWEB) up 68.2%.
  • Worst: United States Natural Gas Fund (UNG) down33.9%; PowerShares S&P Smallcap Eneegy Portfolio (PSCE), down 31.4%; and SPDR S&P Oil& Gas Equipment & Services Etf (XES), down 26.6%.

 

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POCKETBOOK: Week ending Oct. 6, 2017

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•Well, look who is saving money.

If you thought that Millennials were just snotty nosed kids with no social graces and only focused on all things hand-held, you may be right. But you’d also be missing something: Turns out these 18-34 year-olds are good savers.

According to a recent NerdWallet survey of 2,000 folks, Millennial parents are contributing 10% of their income to—drum roll please—-retirement savings.

Compare that to Generation X people (aged 35 to 54) are saving 8% of their income for retirement and working Baby Boomers (55 and older) only 5%.

Maybe financial literacy does pay off.

 

  • Market Quick Glance

Clearly the market hasn’t had enough of a running bull as it’s been another week of the closing at new high records on the indices followed below.

As was the case at the end of September, the Russell 2000 has been the index to play—up again rewarding believers in it more than they may have ever expected.

Where and when the bears will appear on Wall Street continues to be anybody’s guess. But what isn’t guess-related  is how the stocks, funds and investments in your portfolio have performed so far this year. It is going to be year-end before we know it and  one of the most rewarding gifts one can give to one, is profit taking.

On that note, below are the weekly and 1-year index performance results— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, October 6, 2017.

-DJIA +15.24% YTD up a heap from last week’s 13.37%.

  • 1 yr Rtn +24.66% up from last week’s 23.49%

And a new all-time high for the DJIA was reached on October 5, 2017 of 22,777.04.

The previous high of 22,419.51 was reached on Sept. 21, 2017.

On March 1, the Dow stood at 21,169.11.

 

-S&P 500 +13.87% YTD up from last week’s 12,53%.

  • 1yr Rtn +17.98% up from last week’s +17.12%

The S&P 500 reached a new high of 2,552.51 on October 5, 2017.

The previous high of 2,519,44 was reached on September 29, 2017.

On March 1, 2017, that index stood at 2,400.98.

 

-NASDAQ +22.42% YTD up a heap from last week’s +20.67%.

  • 1yr Rtn +24.18% up from last week’s 23.28%

The Nasdaq reached a new all-time high of 6,590.18 on October 6, 2017.

Its previous high of 6,497.98 was reached on September 29, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

 

-Russell 2000 +11.28% YTD up a heap from last week’s +9.85%.

  • 1yr Rtn +21.18% up considerably from last week’s +20.45%

The Russell 2000 reached a new all-time high of 1,514.94 on October 5, 2017.

Its previous high of 1493.56 was reached on September 29, 2017.

On March 1, 2017 this index stood at 1,414,82.

 

-Mutual funds

 And once again, mutual fund average performance figures continue upward.

For the week ending Thursday, October 5, 2017, the year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds heading was 13.65, according to Lipper. That’s up enough to notice from the previous week’s figure of 11.86%.

Briefly, it’s been a growth year for all types of growth funds including large-cap, large-cap core, all varieties of mid- and multi-cap growth funds and the same for small-cap funds.

That said, one of these weeks the tide will turn and value will wind up being the place to have some money invested. While that day isn’t today, value funds have way outperformed the kind of measly return folks have gotten on their money market funds, in their savings accounts and bond funds.

For instance, Large- and Multi-Cap Value funds were both up on average well over 10% year to date. Nothing to whine about there. Additionally, Mid-Cap Value funds were up on average 8.42% and Small-Cap Value funds up 6.58%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Airline fees sky-high

 Once upon a time, flying used to be a lot of fun. People dressed up to fly. Full meals were served in coach. Seats were comfy with plenty of leg room and the width to accommodate most butts. But, as we all know butt size has changed and so has everything else about air travel.

In addition to security measures all travelers have to endure before boarding flights, there are restrictions regarding luggage, etc.

All of which has made flying more uncomfortable for everyone and more profitable for the airline industry. I find that shameful as it represents a long-term trend in America that has put corporate profits way ahead of the quality of the products offered.

Worse yet, it’s costing all of us more to fly as the bundles of bucks the airline industry now brings in is coming from all of the ancillary fees charged. Like those for ticket fees, baggage fees, etc.

According to a piece on travel guru Peter Greenberg’s travel blog, PeterGreenberg.com, “ten years ago the airlines generated about $2.1 billion in ancillary fees….Today that airlines have racked up $28 billion in fees—-more than they profit from actually flying the planes or operating as airlines.”

Again, that’s shameful.

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POCKETBOOK: Week ending Sept. 29, 2017

 

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  • “In God We Trust”, money and then there’s Florida.

I’m a big fan of God. Trust too. But that phrase on money? Not so much. Money, after all, is simply one convenient way of exchanging services for goods/services for goods. Or, paying for stuff we want. In other words, money isn’t a God thing it’s an economic one.

That said, October 1, 2017 marked the 60th anniversary of the inclusion of the phrase “In God We Trust” on our $1 paper currency. Prior to 1967, God wasn’t part of our paper bills. The phrase “E pluribus unum” was. Translated it means “out of one, many”.

I remember when that change occurred and wondered why the need for the change.  “E pluribus unum” seemed to be a perfectly good, reasonable, common sense political phrase and the other so religiously focused. Wasn’t there supposed to be a separation of state and church? At least that’s how it looked to me, then a young Minnesotan. That however wasn’t the mid-1950s thinking of a Florida politician.

Floridian Representative Charles Edward Bennet was the guy who had enough influence to get “E pluribus unum” erased from our paper currency and replaced with “In God We Trust”.

According to Wikipedia, Bennet’s “ staunch ethical stance appeared to be too much for his colleagues in the House of Representatives, who nicknamed him, “Mr. Clean”.

FYI, “In God We Trust” had been the accepted state motto for Florida since the 1800s but wasn’t officially adopted until 2006 when Gov. Jeb Bush signed a House Bill making it so.

From where I sit,  it looks as though we were a more common sense economically sound nation before God made his way on to our money.

 

  • Market Quick Glance

As of yet there’s been no stopping the bull running on Wall Street.

At the close of business on Friday, September 29, 2017, the Dow Jones Industrial Average had posted its first 8-quarter win streak in 20 years, according to CNBC.com.

Additionally, all three of the other indices followed here were up for the week with the Russell 2000 scoring the most. On a tear for the past few weeks, that index closed locking in a new high.

Below are the weekly and 1-year index performance results— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, September 29, 2017.

 

-DJIA +13.37 YTD up a bit from last week’s 13.09%.

  • 1 yr Rtn +23.49% up from last week’s 21.51%

 

A new all-time high for the DJIA of 22,419.51 was reached on Sept. 21, 2017. The previous high of 22,275.02 was reached on September 15, 2017.

On March 1, the all-time high on that date for the year was 21,169.11.

 

-S&P 500 +12.53 % YTD up from last week’s 11.76%.

  • 1yr Rtn +17.12% up a lot from last week’s +14.93%

The S&P 500 reached a new high of 2,519,44 on September 29, 2017. The previous high of 2,508.85 was reached on September 20, 2017.

On March 1, 2017, that index closed at its then all-time high of 2,400.98.

 

•NASDAQ +20.67% YTD up from last week’s +19.39%.

  • 1yr Rtn +23.28% up from last week’s 20.37%

 

The Nasdaq reached its latest new all-time high of 6,497.98 on September 29, 2017. Its previous high of 6,477.77 was reached on September 18, 2017.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +9.85% YTD up a heap from last week’s +6.90%.

  • 1yr Rtn +20.45% up considerably from last week’s +14.83%

The Russell 2000 reached a brand new all-time high of 1493.56 on September 29, 2017.Its previous high was reached on July 25, 2017 of 1,452.09.

On March 1, 2017 the then high of this index was 1,414,82.

 

-Mutual funds

 Mutual fund average performance figures continue onward and upward.

The year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds heading ended the week at 11.86% on Thursday, September 28, 2017. That average is up from the previous week’s close of 10.7%, according to Lipper.

According to Bespoke, here are the year-to-date Asset Class Performance total returns, through 9/30/17, for various countries. Those with the greatest gains include Italy, up 31.89%, Hong Kong, up 28.90% and Spain, up 28.49%.

On the less-but-still-up side include: Russia, up 5.04%, Canada, up 11.58% and Japan, up 14.75%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Gun power

 Like it or not, sad to say, are we crazy or what….history has shown us that gun manufacturers make out like bandits after a national killing.

Before the stock market opened today, Monday, October 2, 2017, the day of America’s most recent mass shooting, gun stocks ticked upward.

According to CNBC, there have been 32 instances of mass shootings since the 1999 Columbine High School shooting. Looking at two well-known gun companies, Sturm Ruger (RGR) and American Outdoor Brands (AOBC), in the past both closed higher one-month after the date of the killing event: RGR gained 2.89%; AOBC up 5.36%; and the S&P 500 up 1.66%.

Currently,  around 12 noon today, 10/2/17, the S&P 500 had gained 2% from its closing price since  on Friday,  RGR was up 3.58% and AOBC up 4.07%.

Setting any possible financial gains aside, isn’t it ironic that deadly mass shootings bring out both a fear and the need to kill in many.

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POCKETBOOK: Week ending Sept. 22, 2017

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•Closing shop

Lately  I’ve read more than one story about how U.S. workers are earning more than ever  which makes me scratch my head with wonder, “How, in fact, can that be when some of our favorite—and long-standing– stores are closing?”

No wise answer from me on that one. But below is a list of the various stores that have or will be closing some or all of their shops.

According to CNBC.com, here are some of the companies that have either filed for Chapter 11 bankruptcy protection or Chapter 7 so far in 2017: The Limited; Wet Seal; Eastern Outfitters; BCBG Max Azria; Vanity; Hhgregg; RadioShack; Gordmans; Gander Mountain; Payless ShoeSource; Rue 21; Gymboree; Cornerstone Apparel, the owner of Papaya Clothing; True Religion Apparel; Alfred Angelo; Perfumania; Vitamin World; Aerosoles; and Toys R Us.

I already miss RadioShack. And Payless. And Hhgregg. And….

 

  • Market Quick Glance

It was a week of gains for two of the four indices followed below. Additionally, the DJIA and S&P 500 closed at new highs for the year. All according to data from CNBC.com based on prices at the close of business on Friday, Sept. 22, 2017.

Below are the weekly and 1-year index performance results— including the dates each reached new highs.

-DJIA +13.09 YTD up from last week’s 12.68%.

  • 1 yr Rtn +21.51% down from last week’s 22.27%

A new all-time high for the DJIA of 22,419.51 was reached on Sept. 21, 2017. The previous high of 22,275.02 was reached on September 15, 2017.

On March 1, the all-time high on that date for the year was 21,169.11.

 

-S&P 500 +11.76 % YTD up a tad from last week’s 11.68%.

  • 1yr Rtn +14.93% down from last week’s +16.44%

The S&P 500 reached a new high of 2,508.85 on September 20, 2017. The previous high of 2,500.23 was reached on September 15, 2017.

On March 1, 2017, that index closed at its then all-time high of 2,400.98.

 

-NASDAQ +19.39% YTD down from last week’s +19.79%.

  • 1yr Rtn +20.37% down from last week’s 22.84%

The Nasdaq reached its latest new all-time high on September 18, 2017 of 6,477.77. Its previous high was reached September 15, 2017 closing at 6,464.27.

On April 5, 2017 the index closed at 5,936.39.

 

-Russell 2000 +6.90% YTD up a heap from last week’s +5.50%.

  • 1yr Rtn +14.83% down from last week’s +16.68%

The Russell 2000 reached its latest all-time high of 1,452.09 on July 25, 2017.

On March 1, 2017 the then high of this index was 1,414,82.

 

-Mutual funds

Picking up a bit of steam, the year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds heading ended the week at 10.70% on Thursday, September 21, 2017. That’s up from the previous week’s close of 10.11%, according to Lipper.

In case you were wondering, the average y-t-d- return for the 4,501 funds that fall under the World Equity Funds heading was 22.69%; for the 5,887 funds that fall under the Mixed Asset Funds heading was 9.50l and for the 2,282 different Sector Equity Funds was 7.95%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Talking both sides

We all know that this bull market has gone on even longer that many had expected.

Although when and why its upward trend in index results will come to an end continues to be anybody’s guess. But that doesn’t stop financial talking heads from making predictions.

One such head reporting in last week came from TIAA Investments’s Brian Nick.

Nick is expecting to see a four percent decline in their firm’s target for the S&P 500 by year-end. That would put it at 2400.

But wait, there’s more.

Nick also thinks that this current bull market still has room to run. By the end of 2018—that’s next year—the target his firm has put on the S&P 500 is 2600.

Neither of which does little to make feeling comfortable or cozy about staying in the market or investing new money very easy.

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POCKETBOOK: Week ending Sept. 15, 2017

 

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  • Electric power

My power was out from Sunday thru late Wednesday afternoon. It’s a hot, sweaty and costly drag when that happens. In addition to no breezes, tossing out all refrigerated and frozen foods that warmed and thawed in my coolers, the one who suffered the most was my dog, Gracie. Now 13 and 3/4s years old, Tuesday night she barely slept panting the night away. I apologized to her which may have been humanly kind but don’t think those words mattered much to her. She was hot. And old. And suffering.

So, early the next morning I took her for an extended ride in my car, air conditioning blasting. And then with me to the 12:05 service at Bethesda-by-the-Sea Episcopal Church in Palm Beach. We made it through the police check-points on the island after telling those guarding the town that I was going to church.

Grace is a good church-going dog. She’s been to this place for services a few times before for the Blessing of the Animals service and knew the drill: Go to the grass bathroom before entering the church, try not to bark and spread out as much as you’d like on the cool wooden pews.

For an hour she was much happier thanks to the generator powering the AC at Bethesda.

Speaking of power, I have a friend in Tavernier (one of the Florida Keys) whose home never lost its power during or after  Hurricane Irma.

Amazing.

 

  • Market Quick Glance

It had been about seven weeks since the DJIA, S&P 500 and NASDAQ had reached new all-time highs. But at the close of business on Friday, September 15, 2017, all of that changed as each of those indices scored again.

Below are the weekly and 1-year index performance results— including the dates each reached new highs— according to data from CNBC.com. Data is based on prices at the close of business for the week ending on Friday, Sept 15, 2017.

-DJIA +12.68 YTD a big jump up from last week’s 10.30%.

  • 1 yr Rtn +22.27% down from last week’s 17.95%.

A new all-time high for the DJIA of 22,275.02 was reached on September 15, 2017.

Prior to that date, the DJIA most recent all-time high of 22,179.11 was reached on August 8, 2017 . Looking back six months, on March 1, the then all-time high on that date was 21,169.11.

 

-S&P 500 +11.68 % YTD way up from last week’s 9.94%.

  • 1yr Rtn +16.44% up a lot from last week’s +12.84%

The S&P 500 reached a new high of 2,500.23 on September 15, 2017.

Prior to that date, its most recent all-time high was on August 8, 2017 at 2,490.87. And six months earlier, on March 1, 2017, that index closed at a then all-time high of 2,400.98.

 

-NASDAQ +19.79% YTD up from last week’s +18.15%.

  • 1yr Rtn +22.84% down from last week’s 23.11%

The Nasdaq also reach a new all-time high on September 15, 2017 closing at 6,464.27.

Prior to that date, its most recent all-time high of 6,460.84 was reached on July 27, 2017. Looking back, on April 5, 2017 this index closed at 5,936.39.

 

-Russell 2000 +5.50% YTD up from last week’s +4.16%.

  • 1yr Rtn +16.68% up a heap from last week’s +11.21%

The Russell 2000 reached its latest all-time high on July 25, 2017 of 1,452.09.

(Previous highs include: 1,452.05 on July 21, 2017; 1,433.789 on June 9, 2017; 1,425.7 reached on April 26, 2017 and of 1,414,82 reached on March 1, 2017.)

 

-Mutual funds

Good news with respect to the year-to-date cumulative total reinvested return performance for equity funds falling under the broad U.S. Diversified Equity Funds heading: On Thursday, September 14, 2017, equity funds y-t-d return average was 10.11%—that’s up from the previous week’s close of 8.60%, according to Lipper.

If you’re a fan or investor in the largest funds around some of the big ones have returned big  returns.

Four of them include: Vanguard FTSE Emg Mkt ETF, 25.98%; Fidelity Contrafund, 23.20%; Dodge & Cox Intl Stock, 21.97%; and the Vanguard Total 1 Stock, 21.26%.

Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.

 

  • Hacked

You’ve heard me write this before and I’ll continue to mention it as there is some truth to it:  My now 102-year old Auntie Pat said– decades ago– that the internet was the devil’s work.

Recently her point  is proven to hold water  when it comes to the Dark Web and the hacking of  personal financial on-line accounts, including those of banks and credit rating agencies.

Personally, I’ve had my identity stolen and have been a victim of mail-fraud hacking. Both no fun to deal with or correct.

Speaking of correcting a hacking problem, I’m not 100% sure that once any of your accounts have been hacked that your Social Security Number, and various health-related accounts or credit or debt accounts in your name, will ever be free from harm.

So, while a hacking experience can cost us plenty and take months to correct our credit score after our cards have been stolen and used to rack up sales we never made, it’s the high-end no-limit credit cards that hackers really like getting their hands on. According to Bloomberg.com, on the Dark Web a Platinum American Express card will sell for $15 to $20 while a regular MasterCard without a large limit for around $9.

Not much given all the aggravation it costs the card owner.

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