Dilbert creator cracks wise on financial advisers
Breakfast with Benjamin: Goldman Sachs expects stock and bonds to go their separate ways. Plus: Scott Adams takes on advisers; Putin tosses the sanctions into Obama's court; the Treasury builds a cash stockpile; home-equity loans facing wave of defaults; and can we blame IPOs for last week's market selloff?
- Goldman forecasts a divergence for stocks and bonds, assuming the Fed starts to do its job, hopefully sometime next year. Stocks will see 4% annualized gains, bonds see 1% annualized losses
- Dilbert creator, Scott Adams, calls out financial advisers, claiming their services are proven to be harmful to your wealth. The cartoonist gets all mathy and stuff. Getting rid of professional advice should send stocks higher
- Putin to Obama: I’ll see your sanctions and raise you. Your move, Mr. President. New challenges for the West
- Trend toward cash hoarding has spread to the U.S. Treasury. Apparently, a $5 trillion bond portfolio just isn’t enough of a cushion for government. Saving for a rainy day
- Boom-era home-equity loans teeter on the brink of default in another example of how to live beyond your means. Payment increases are coming
- Did the flood of IPOs spark last week’s market selloff? It’s a theory. $12.5 billion in new shares dumped into the market
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