The Latest: Over 70 CA shops licensed to sell retail pot

The Latest: Over 70 CA shops licensed to sell retail pot

The Latest: Over 70 CA shops licensed to sell retail pot Share this storyThe Latest: Over 70 CA shops licensed to sell retail pot LOS ANGELES — The Latest on recreational marijuana sales in California (all times local): 11:50 a.m. More than six dozen marijuana retailers have been licensed to start selling recreational pot in California on New Year’s Day. The start of legal retail cannabis sales on Monday comes […]

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Einhorn‘s Main Hedge Fund Up 2 Percent in 2017 With December Gain

Einhorn‘s Main Hedge Fund Up 2 Percent in 2017 With December Gain

The main hedge fund at David Einhorn’s Greenlight Capital returned 1.1 percent in December as equities rallied. The gain boosted the fund’s return to 2 percent for 2017, according to an email to clients that was seen by Bloomberg News. The fund, which mostly makes wagers on stocks, struggled to profit in a year where the S&P 500 Index returned more than 20 percent, including reinvested dividends. The HFRX Global […]

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2017 US Mint Bullion Sales Plunge

2017 US Mint Bullion Sales Plunge

The 2017 numbers are in: sales of precious metal bullion from the United States Mint are falling. Sales of the American Gold Eagle, one of the world’s most popular gold bullion coins, were 300,500 ounces. This is a 10-year low. The past year’s sales are consistent with average sales before the Financial Crisis and Great Recession. What is remarkable about these low numbers is their steepness, falling from an all-time […]

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Momentum Stocks Stole Show in 2017 With Whiff of Dot-Com Mania

Momentum Stocks Stole Show in 2017 With Whiff of Dot-Com Mania

Slice the rally however you want: chips, Nasdaq, retailers, banks. But 2017 will go down as the year an investment strategy based on nothing more than sticking with winners shined brightest. Long momentum, when traders simply buy shares that are rising the fastest, returned 38 percent in 2017, the strongest advance since 1999. Paced by firms like Square Inc. and Align Technology Inc., the strategy came within an inch of […]

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Japan‘s Economy Could Get a Boost in 2018 From Bitcoin

Japan‘s Economy Could Get a Boost in 2018 From Bitcoin

Bitcoin’s about to boost the world’s third-largest economy, according to analysts at Nomura. The digital coin’s 1,500 percent rally this year has left crypto-crazed Japanese investors likely sitting on hefty gains that Nomura thinks will spur consumer spending.  “Rises in asset values often result in a rise in consumer spending, too, known as the wealth effect,” the team, led by Yoshiyuki Suimon, wrote on Friday. “We estimate the wealth effect from […]

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Goldman Sees Crypto, Credit Shadowing Robust 2018 US Economy

Goldman Sees Crypto, Credit Shadowing Robust 2018 US Economy

Financial imbalances including those in credit markets and cryptocurrencies will shadow an otherwise robust 2018 U.S. economy, said Goldman Sachs Group Inc. economist Jan Hatzius. Hatzius has already made some predictions for the new year: four Federal Reserve rate hikes, real U.S. gross-domestic product growth quickening to an average of 2.6 percent, the jobless rate dropping to about 3.5 percent, and the yield curve not inverting. In a new report, […]

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Peculiar Year for Stock Markets Defied Investor Expectations

Peculiar Year for Stock Markets Defied Investor Expectations

The year was typically full of surprises but market reactions defied conventional wisdom, leaving many a prognosticator flummoxed. Take the global economy. It fired on all cylinders, yet bond yields went nowhere. North Korea threatened nuclear armageddon, and volatility in U.S. equities sank to a record just six weeks later. Mainstream candidates won major elections in Europe, but a cryptocurrency asset that supporters say will protect from untrustworthy policy makers […]

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