Short excerpts from articles I found interesting.
I may not agree with the author and the following material is not intended as investment advice.
- “Black:…I’m not a macroeconomist, but productivity was enhanced from the Industrial Revolution up until about 2006 by waves of technological innovation. As you look at where venture-capital dollars and Wall Street are going now, there has been an orientation toward technological innovation in social media and gaming. Neither has a real effect on boosting productivity…We need a new growth wave in technology to push us to a different level…”
The Wall Street Journal – Mega World Cup My Signal U.S. as Host – January 11, 2017 by Joshua Robinson
- “…Professional sports’ irresistible urge to expand their most successful events spread to the World Cup on Tuesday when FIFA, soccer’s global governing body, voted to add 50% more teams to the tournament starting in 2026. The World Cup will feature 48 teams instead of 32, meaning that nearly a quarter of FIFA’s 211 member associations will qualify…”
- “FIFA hasn’t yet decided who will host the first 48-team World Cup, but the logistical demands of hosting such a large event with match venues, practice facilities, accommodation and infrastructure already narrow the field to a small handful. The U.S., which has publicly expressed interest, is widely considered to the front-runner in a possible joint bid with Mexico and Canada. No other credible contenders have emerged so far and countries from Asia and Europe wouldn’t be eligible in 2026 due to FIFA rules on rotating hosts.”
- “…As I’ve said many times before, there’s a lot of uncertainty surrounding Trump, who will be sworn into office one week from today. At the same time, businesses and investors clearly like what they’re hearing… Joining Shiller in offering a balanced assessment of Trump is my old friend Alexander Green... In his most recent blog post, Alexander makes a convincing case against Trump’s protectionism, which are “not good for the economy or the market” and “undermines American economic growth.” Although investors have moved billions into the stock market since the election, the Trump rally could easily turn into the Trump correction, Alexander says, “unless he changes his tune” on international trade.”
- “Why does a flat-panel HDTV that cost more than $10,000 in 2003 cost less than $400 today? Globalization,” he writes. “How can you walk into a Marshalls store and buy a fine cashmere sweater for 35 bucks? Globalization. Why does an $8 million supercomputer from 20 years ago sit in your pocket and cost less than $200? Globalization.”
- “…The major market indices finished mixed this week. The Dow Jones Industrial Average lost 0.39 percent. The S&P 500 Stock Index fell 0.10 percent, while the Nasdaq Composite climbed 0.96 percent. The Russell 2000 small capitalization index gained 0.35 percent this week.”