1) Cryptocurrency & Government Regulation
Capricorn Sees Cryptocurrency Declines Amid Regulatory Scramble: Emad Mostaque, co-chief investment officer at Capricorn Fund Managers (domain: capricornfundmanagers.com) discusses the value of cryptocurrencies and governments' attempts to regulate them. He speaks to Bloomberg's Anna Edwards on "Bloomberg Markets." Bloomberg.com video above published Jan 17, 2018.
See also: SEC says bitcoin funds raise 'investor protection issues' | Reuters.com
2) Tax Reform & Apple Investment in U.S.--Apple pledges to invest $30 billion and pay $38 billion tax bill:
Financial Times (ft.com) video published Jan 17, 2018: Apple has pledged to invest more than $30bn to expand its American operations in the wake of last month’s US tax reform bill, even as it makes an estimated $38bn one-off tax payment on the repatriation of its overseas profits.
Apple accelerates US investment and job creation | Apple.com:
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| source: Apple.com |
3) Investing
- The Dow's 31% gain during Trump's first year is the best since FDR | cnbc.com: "The 30-stock index has surged more than 31 percent since Trump's inauguration. That marks the index's best performance during the first year of a president since Franklin Roosevelt. "You've got lower taxes, less regulation and confidence in the economy is high," said one investor. The S&P 500 has [also] surged 23 percent during Trump's first year in office."
- Fed Beige Book Report Shows Growth in Almost All Districts | YouTube.com.
Investing Notes:
- Euro & Eurozone : Euro Frustrates ECB Policy Makers Amid Stimulus Debate | YouTube.com. “If there were to be an economic shock this year, many of our countries and the monetary union as a whole are not prepared”--former Dutch finance minister Dijsselbloem--ft.com. See also: The EU Should Let the City of London Thrive | Bloomberg.com.
- $$ & Commodities: The Fall In USD Is Just The Start Of A Multiyear Downtrend And The Start Of A Multiyear Uptrend In Commodities | SeekingAlpha.com
- Data: We Used Broadband Data We Shouldn’t Have — Here’s What Went Wrong | FiveThirtyEight.com: "We were reminded of an important lesson: that just because a data set comes from reputable institutions doesn’t necessarily mean it’s reliable."
- Sam Zell Sees "Irrational Exuberance" In US Stocks | ZeroHedge.com: "In summary, now is a good time to hold cash. Wait for equity and real estate prices to plunge, and be ready to try and catch that falling knife."
- Cryptocurrency--Everyone Is Getting Hilariously Rich and You’re Not | NYTimes.com: The goal may be decentralization, but the money is extremely concentrated. Coinbase has more than 13 million accounts that own cryptocurrencies. Data suggests that about 94 percent of the Bitcoin wealth is held by men, and some estimate that 95 percent of the wealth is held by 4 percent of the owners. There are only a few winners here, and, unless they lose it all, their impact going forward will be outsize.
4) ICYMI Tech News:
- Facebook (NASDAQ:FB)--buzzfeed.com: Facebook Couldn't Handle News. Maybe It Never Wanted To; Facebook's New Mission May Be Impossible--Bloomberg.com.
- Facebook Is Profiting From China, Thanks To Alibaba--SeekingAlpha.com.
- Uber & Softbank: Ex-Uber CEO nets $1.4B as company closes Softbank deal | TheHill.com: SoftBank is now Uber’s largest investor, deal values the ride hailing company at $48 billion.
- IBM Revenue Grows for the First Time Since 2012 | WSJ.com: Q4 revenue of $22.5B (up 3.6% YoY) vs. $22.1B expected; $1.1B loss from one-time $5.5B tax reform charge.
-- John Poole, Editor, Domain Mondo
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