A new study shows that private equity firms are still popular with the super-rich. Many are even cracking the "megafund" level of $10 billion under management. That's in spite of expensive fees. The standard "two-and-twenty" fee means the fund managers get 2 percent of the assets each year—and 20 percent of any and all profits.
 | | Good morning. A new study shows that private equity firms are still popular with the super-rich. Many are even cracking the "megafund" level of $10 billion under management. That's in spite of expensive fees. The standard "two-and-twenty" fee means the fund managers get 2 percent of the assets each year—and 20 percent of any and all profits.
Yet despite their popularity, few have managed to materially beat the S&P 500 index for so long. Many have underperformed, even before those big fees. In a win for the little guy, any person with a few bucks can buy an S&P 500 index for fees at or under 0.1 percent, with no profits going to the index manager. It's tough to pity the wealthy on this one, as they knew what they were getting into. | | |
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| | |  | DOW 30, 26,465.54 | +1.35% | | | | S&P 2,917.75 | +0.97% | | | | NASDAQ 7,953.88 | +1.39% | | | | | *As of market close | | | • | Stocks surged higher on Tuesday, as the ECB proposed economic stimulus and favorable comments about a Trump-Xi meeting on trade. | | | | • | Oil jumped 3 percent, and even gold moved higher. Cryptocurrencies dropped, on average. | | | |
| | | European Central Bank Hints at Stimulus | |  | | Europe's central bank hints at more stimulus; stocks rally. | | Stock futures rose, and markets had one of their best days of the year on Tuesday, following news out of Europe.
Mario Draghi, head of the European Central Bank (ECB), hinted that the bank would be likely to cut interest rates and start re-purchasing assets in the coming months to stimulate economic growth. These purchases would be similar to the quantitative easing (QE) done by the Federal Reserve in the past.
» FULL STORY | | | | |
| | Shocking Chart Signals MAJOR Market Move Ahead | |  | | Right now, the time-honored "K-Wave" chart is predicting a global economic collapse of Biblical proportions. And it says that crash is beginning at this very moment. The K-Wave has almost never been wrong. It accurately predicted the 1929 crash, the Great Depression and every major boom and bust since. This urgent new report shows you when and where the K-Wave will strike first ... investments that could make you rich before the collapse... and how to protect yourself before all hell breaks loose. Get your FREE copy of Stock Market Tsunami now. | |
| | Facebook Unveils Crypto Plans | |  | | Social media company looks to enter money and payment space. | | Social media giant Facebook (FB) released plans for its cryptocurrency on Tuesday. Called Libra, the open-source digital currency is set to launch in the first half of 2020.
The currency will allow customers to send money around the world at no cost. Libra members include Visa and PayPal, among other payments companies, and already has support of tech companies like Lyft and Uber.
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| | | | Insider Activity: Encana Corp (ECA) |  | | CEO, director continue to buy shares as oil languishes. | | Insiders have already been buying at oil and gas exploration firm Encana (ECA), but continue to pick up shares near current prices.
On June 14th, CEO Douglas Suttles picked up 5,000 more shares of the company. And on Monday, June 17th, director Suzanne Nimocks picked up 10,000 shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Alibaba Group (BABA) | |  | | Traders bet on Chinese e-commerce giant ahead of G20 meeting. | | A large bet is being made that shares of Alibaba Group (BABA) will jump about 5 percent higher in the next month.
On Tuesday, over 5,300 of the July $175 call options options had been traded, against an open interest of 133 options. This bet, with shares currently at $168, implies that shares will move higher by around 5 percent within the next month.
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| | | | TOP | | | XLNX | 6.936% | | | | FB | 5.735% | | | | MOS | 5.563% | | | | DISH | 5.463% | | | | NWSA | 5.413% | | | | BOTTOM | | | SLG | 3.502% | | | | STZ | 2.809% | | | | GTX | 2.46% | | | | WU | 2.443% | | | | K | 1.857% | | | | |
| | Top Rated Financial Stocks |  | | | |
| | |  | | If the crisis has shown anything, it is that we will use all the flexibility within our mandate to fulfil our mandate - and we will do so again to answer any challenges to price stability in the future. | - European Central Bank President Mario Draghi on the potential for more economic stimulus  | |
| | Stocks just did something really spooky | | |  Nervous about where the stock market is headed next? You're not alone. This market has everyone on edge.
But what if I told you the Dow could reach 31,000 by this time next year?
That's the good news ...The bad news is we're going on a roller coaster ride through hell to get there. "Sitting tight" is the WORST thing you could do.
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Investors who fail to follow this advice could be caught in a cataclysmic crash. Watch it now. | | | |
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