Today we finish the last trading day of May, and with it the first five months of this year are behind us. And what do we have to show for those five months? The two “biggest picture” items I follow for investors are stocks and gold. So far this year, the Dow Jones Industrial Average is up a meager 1.7%. Gold bullion prices are up about the same...at 1.5%, to be exact. Stocks Rallying Since 2009 Now, here’s the big difference: Stocks have been rallying since 2009. The Dow Jones is up 176% since March of 2009. I see that rally as over. The Dow Jones has been inThe post Gold vs.
UBS (UBS) rolled out the ETRACS Diversified High Income ETN (DVHI) on Thursday (9/19/13). The new exchange traded note (“ETN”) is targeted at investors desiring significant monthly income from a diversified multi-asset mix. It will track the new NYSE Diversified High Income Index minus the 0.84% annual tracking fee. The underlying index has a current yield of 7.7%, and the ETN will make monthly cash distributions.
The Energy Report: Summer means driving season, which is good news for oil and gas prices. U.S. Global Investors recently published an article that says Americans are driving and flying more than ever. Will energy investors who "sell in May and go away" kick themselves later, when they look at the stock charts for their favorite companies? Brian Hicks: The summer driving season is a supportive time for crude oil.
Company Update: Bank of America Corporation (NYSE:BAC) – Bank of America to improve compliance practices, pay $30 mln fine to OCC
[Reuters] - Bank of America Corp agreed with U.S. regulators to improve its compliance practices and pay a fine for violations in lending rules toward military personnel. The Office of the Comptroller of the Currency (OCC) asked the No. 2 U.S. bank by assets to pay a penalty of $30 million due to non-home loan compliance with the Servicemembers Civil Relief Act (SCRA) and unsafe non-home debt collection litigation practices. The OCC, which regulates and supervises all national banks, also ordered "remediation" to about 73,000 affected customer accounts. Read more on this. Bank of America Corporation (BAC), valued at $173.28B, began trading this morning at $16.66. Looking at today's market, BAC one day range is $16.47 to $16.67 and has traded between $14.84 and $18.21 over the past 12 months. BAC shares are currently priced at 12.
Investors have had to endure much more volatility in the past few weeks. We may know why — the Federal Reserve put an expiration date on its $3 trillion-plus bond-buying program. But some investors don’t know how to proceed. The Fed’s easy-money policy — mainly known as quantitative easing, or QE — probably will end next year.
Since the inception of the Investment Company Act of 1940, investors have grown to expect every mutual fund, closed-end fund (“CEF”), and exchange traded fund (“ETF”) to be treated as a “pass-through vehicle” for tax purposes. The entity itself would not pay any taxes, and all tax liabilities would be passed-through to the shareholders. That was the status quo for decades, until master limited partnership (“MLP”) funds came along.