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The Wall Street Journal ran a front-page piece outraged that Americans used legal retirement accounts to build serious wealth. Nobody broke a law, nobody cheated anyone, but apparently getting rich the right way is now a scandal.
Private equity’s dirty secret is finally making headlines, and I’ve been warning about this for years. Over $348 billion in U.S. private equity assets are now trapped in funds past their expiration date, and the investors who bought in are the ones left holding the bag.
A 28-item grocery order that cost $64.50 at Target in 2020 now runs $158.30. That number has gone viral, and it should, because it confirms what I have been saying for years about how the government calculates inflation.
Most investors celebrate when their portfolio climbs 10%, but very few stop to ask how much of that gain is real. When you factor in true inflation and capital gains taxes, the government may be taking far more than you think.
When a Republican tied to Trump’s operation openly says ‘voters have to hate the Dems more than they hate us,’ that tells you everything you need to know about where policy is headed. I walked away from that headline, literally went for a walk along Bay Shore in Tampa, because what I read was not a political strategy. It was an admission of failure.
Wall Street’s biggest firms are posting record trading revenues, and everyone seems to be celebrating. I’m not celebrating, and after I explain what’s really going on, you won’t be either.
Wall Street is at it again, bundling illiquid private assets into investment-grade bonds backed by insurance wrappers, and calling it innovation. I’ve seen this movie before, and I know exactly how it ends.
Wall Street is at it again, bundling illiquid private assets into investment-grade bonds backed by insurance wrappers, and calling it innovation. I’ve seen this movie before, and I know exactly how it ends.