Currency

Pound Continues To Slide As No-Deal Brexit Looms

Posted by Ben Rickert

on Monday, 7 October 2019 7:21

The pound is taking a pounding versus the dollar, euro and other currencies as the possibility of a no-deal Brexit looks increasingly likely.

Under new Prime Minister Boris Johnson, the government has strengthened its stance on a no-deal Brexit, which it has said is “now a very real prospect”.

The pound – which was trading at about $1.50 versus the dollar before the EU referendum in June 2016 – has fallen by 2.4% since Monday, when a spokesperson for Downing Street said that the UK would not enter talks with Europe unless the so-called Irish backstop is scrapped.

This week’s selloff shows little sign of a rebound, with options markets implying more pain on the horizon. Three-month implied volatility, a contract that expires just before the Oct. 31 Brexit deadline, jumped to the highest since before March 29, the original date for Britain to leave the European Union….CLICK for complete article

Goofy Award – Climate Change For the Rich and Connected

Posted by Michael Campbell

on Sunday, 6 October 2019 7:48

Just like they did in medieval times when the rich paid the pope money to forgive their sins – some of the most vocal climate elites pretend carbon offsets give them a free pass on their carbon munching lifestyles.

Shocking Stat

Posted by Michael Campbell

on Sunday, 6 October 2019 7:24

While there are no shortage of people who have an opinion about people paying their “fair share” of taxes – not many actually know who pays how much in income taxes. Stats Can clears it up.

Mike’s Editorial – Respecting Work Ethic

Posted by Michael Campbell

on Saturday, 5 October 2019 11:45

It’s been obvious for years that an increasing number of Canadians don’t respect or value work ethic – the drive and determination that lays the foundation for financial success – and three of our federal parties know it.

The 5-Laws Of Human Stupidity & How To Be A “Non-Stupid” Investor

Posted by Lance Roberts

on Thursday, 3 October 2019 6:31

This past weekend, I was digging through some old articles and ran across one that needed to be readdressed on “human stupidity” as it relates to investing.

The background was a study done in 1976 by a professor of economic history at the University of California, Berkeley. Carol M. Cipolla published an essay outlining the fundamental laws of a force he perceived as humanity’s greatest existential threat: Stupidity.

Stupid people, according to Cipolla, share several identifying traits:

  • they are abundant,
  • they are irrational, and;
  • they cause problems for others without apparent benefit to themselves

Of course, if we look at the world around us today, watch or read the diatribe produced by financial and news outlets, or pay attention to politics, it certainly seems that since the advent of the “smartphone” and “social media” the percentage of “stupidity” has clearly risen. (Either that, or we are just more aware of the massive amount of “stupidity” around us. Thankfully, it seems to be contained primarily in Florida.)

We can’t really do much about the seemingly rising level of “general stupidity,” however, we can apply Cipolla’s five basic laws of human stupidity to investing and the mistakes investors repeatedly make over time….CLICK for complete article

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