News on Permanent Portfolio Fund (PRPFX)Wednesday July 23rd 2014
Latest news for Permanent Portfolio(PRPFX) (See analysis on PRPFX)
Aggregared News for Permanent Portfolio(PRPFX) from various sourcesProspectus for Permanent Portfolio Fund
[video] 'Hedge your bets' amid geopolitical turmoil: Pro
Is the 'Permanent Portfolio' Permanently Broken?
[at TheStreet] - Mutual funds and exchange-traded funds based on the concept of a 'permanent portfolio' face rough sledding because of the prospects for bonds and gold.
COLUMN-Circuit breakers investors can use for a debt default
[Reuters] - In times of calamity, every portfolio needs a set of circuit breakers. And, as Congress speeds toward the debt-ceiling barrier, it is a good idea to consider some inverse exchange-traded funds that move ...
Gold Rises to One-Week High as Fed Maintains Stimulus
[at Bloomberg] - Gold rose to a one-week high in London after the Federal Reserve maintained the pace of U.S. bond purchases, boosting demand for the metal as a store of value. Silver and palladium advanced.
Gold Jumps Most in 15 Months as Fed Refrains From Taper
The Permanent Portfolio Proves to Be a Valid Strategy
Essential Reading: 'Deep Risk' By William Bernstein (Plus Q & A With Author)
Gold Bulls Bet Right as Prices Rally Most Since ’11: Commodities
Latest business news
Wednesday July 23rd 2014: Latest financial news from the worldFacebook beats Wall Street targets, stock hits record high
By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday. Facebook now counts 1.5 million advertising customers and the company's ad business saw strong growth across all of its geographic regions, Chief Operating Officer Sheryl Sandberg told Reuters in an interview on Wednesday. Investors bid up shares of Facebook roughly 5 percent to $75.13 in after-hours trading on Wednesday, giving the Internet company a roughly $190 billion valuation, putting it on par with IBM Corp. "It might be more expensive from a market cap perspective, but I don’t think anyone was expecting this level of profitability," JMP Securities analyst Ronald Josey said. Facebook's operating margin expanded to 48 percent of revenue in the second quarter, up from 31 percent in the year-ago period.
China July HSBC flash PMI at 18-month high
China's factory activity expanded at its fastest pace in 18 months in July as new orders surged, a preliminary HSBC survey showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in. The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 52.0 in July from June's final reading of 50.7, beating a forecast of 51.0 in a Reuters poll. "Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through," said Qu Hongbin, chief economist for China at HSBC. "We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery." Mainland China stocks jumped after the PMI report while shares in the rest of Asia edged higher.
Asia shares supported by upbeat China factory survey
By Wayne Cole SYDNEY (Reuters) - Asian stock markets edged broadly higher on Thursday and the Australian dollar jumped after a surprisingly strong reading on Chinese manufacturing bolstered hopes for recovery in the world's second-biggest economy. Japan's Nikkei added 0.2 percent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 percent. "Emerging markets continue to be main benefactor from the mix of low volatility, improving global growth and supportive central banks," said analysts at Barclays in a note.
GM recalls 717,950 vehicles in U.S., not for ignition switches
General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons, although none were related to ignition switch issues. GM has recalled nearly 15 million vehicles worldwide this year for potentially lethal issues with ignition switches. Vehicles involved in the recalls announced Wednesday have been linked to two crashes and three injuries but no deaths, GM said. Most of GM's recalls this year have been for older models, but many of the recalls announced Wednesday are for current-model vehicles, including about 57,000 Chevrolet Impala sedans from the 2014 model year for the loss of power steering.
AT&T's new device financing plan weighs on revenue
Faced with mounting pressure from competitors, AT&T has unbundled service and device charges, and slashed its family data plan and shared value plan prices as it tries to attract customers in a nearly saturated market. "What we saw happen throughout the second quarter were very aggressive promotions by our competitors but all the while our churn decreased," Ralph de la Vega, chief executive of AT&T mobility, told Reuters. "We are confident that what we saw in Q2 was part of the transition we had to make to go from service to equipment revenue in NEXT," he said, referring to a pricing plan that allows customers to pay directly for their devices in exchange for lower service pricing. The plan has resulted in a lower average revenue per user, but higher equipment revenue, as customers take on the majority of the burden of paying for their devices.
Judge dismisses suit claiming JPMorgan knew of Madoff fraud
A U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase & Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud. The lawsuit filed in February alleged that Chief Executive Jamie Dimon and 12 other current and former executives and directors turned "a blind eye to Madoff's thievery." The claims were based partly on statements Madoff gave in a series of interviews - including conversations with plaintiffs lawyers while in federal prison in North Carolina - about his interactions with the bank. Madoff was an important client of the bank for two decades. Judge Paul Crotty ruled there were not enough specific facts to prove the board breached their duties to shareholders.
Bombardier to cut 1,800 jobs, aerospace head retires
(Reuters) - Struggling with long delays in its CSeries jetliner, aircraft maker Bombardier Inc on Wednesday announced it will reorganize its business structure and cut 1,800 jobs, and it said the head of its aerospace division would retire. The Montreal-based company is splitting its aerospace unit into three segments focused on business aircraft, commercial aircraft and aerostructures and engineering services. The three units, along with Bombardier's rail-industry focused transportation unit, will all have separate heads reporting directly to Chief Executive Officer Pierre Beaudoin. As part of the moves, Bombardier Aerospace President and Chief Operating Officer Guy Hachey will retire.
Standard Chartered dismisses media rumors on succession plans
(Reuters) - Standard Chartered Plc dismissed media rumors that its chairman was working on a succession plan amid shareholder pressure. Standard Chartered said in a statement late on Wednesday that it was united in its support of both Group CEO Peter Sands and Chairman Sir John Peace in restoring the bank to profitable growth. The bank said robust and considered succession plans for all of the senior leaders were in place. "We take our board succession extremely seriously and discuss this topic with our shareholders on a regular basis," the Standard Chartered statement said.
Wal-Mart loses bid to keep documents on bribery probe from shareholder
The Delaware Supreme Court affirmed on Wednesday a lower court ruling that ordered Wal-Mart Stores Inc to provide a shareholder with documents related to the company's internal probe of allegations the retailer had paid bribes in Mexico. Wal-Mart had appealed a ruling by Delaware's lower Court of Chancery that ordered the company to produce documents to an Indiana union pension trust, which owns the company's stock. The trust had sued Wal-Mart for access to the documents, saying it needed them to determine if the company's board breached duties to shareholders by failing to investigate bribery allegations. The story said Wal-Mart's investigators found evidence of widespread payments and suspected that laws had been broken.
China probes 581 firms, restaurants as food safety scare spreads
China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a Chinese-based supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat. Shanghai Husi Food is owned by Illinois-based OSI Group.
US economy, though sluggish, may now be sturdier
Meat supplier in China scandal has global reach
NEW YORK (AP) — It isn't a household name, but the company at the center of a food scandal in China helps make some of the world's most popular foods, including the Big Macs and Quarter Pounders served at McDonald's locations.
NYC official: Thieves got into 1K StubHub accounts
NEW YORK (AP) — Some of the hottest tickets in town — to Broadway hits, Jay-Z and Justin Timberlake concerts, a New York Yankees-Boston Red Sox game — were snapped up by an international ring of cyber thieves who commandeered more than 1,000 StubHub users' accounts to make big money by fraudulently buying tickets and reselling them, prosecutors said Wednesday.
Sanders pleads for VA reform bill as talks stall
WASHINGTON (AP) — The chairman of the Senate Veterans' Affairs Committee said Wednesday there is still time for Congress to approve a landmark bill to improve health care services for veterans, despite deep disagreement over how much the changes will cost and how they should be paid for.
Stopping deadly oil train fires: New rules planned
WASHINGTON (AP) — Responding to a series of fiery train crashes, the government proposed rules Wednesday that would phase out tens of thousands of older tank cars that carry increasing quantities of crude oil and other highly flammable liquids through America's towns and cities.
Japan trade deficit at record $75B in first half
TOKYO (AP) — Japan's trade deficit surged to a record 7.6 trillion yen ($74.9 billion) in the first half of the year as exports failed to keep pace with surging imports, the Finance Ministry reported Thursday.
Japan trade deficit widens to $8 billion in June
TOKYO (AP) — Japan's trade deficit more than tripled from the year before in June to a higher-than-expected 822.2 billion yen ($8.1 billion), as imports surged and exports edged lower.
South Korea's growth slows on weak consumption
SEOUL, South Korea (AP) — South Korea's economic growth has hit its lowest level in three quarters.
Senate bill targets companies that move overseas
European carriers suspend more Tel Aviv flights
Grow Your Business by Protecting Your Life With Guardrails
If you want a successful business, you almost always have to go through this intense startup period. When the business gains success and momentum, far too many business owners fail to recognize they can and should shift the intensity and begin to put up some simple guardrails.
SEC Targeting 10 Firms In High-Speed Trading Investigation
(Refiles to correct spelling of Allston in fourth paragraph) By John McCrank NEW YORK, July 17 (Reuters) - The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters. The regulator told its staff in late March that it was interested in seeing any tips, complaints, or referrals that they receive concerning the brokers and high frequency trading. ...
Should Your Business Become a B Corporation?
A "Benefit Corporation" (B Corp) is a company that engages in socially beneficial practices and considers how their business decisions will impact their employees, suppliers, community, consumers and the environment. I believe a company doesn't have to be exclusively a nonprofit or a for-profit and a B Corp is the perfect hybrid of the two--a company structured to make a profit while also providing social benefits.
Just Pick Up the F*#@ing Phone
Women in Business Q&A: Jess Lee, CEO and Co-Founder of Polyvore
Jess Lee is Polyvore's CEO. Prior to co-founding Polyvore, Jess was a product manager at Google, where she worked on Google Maps and launched features like My Maps and draggable driving directions. After four years at Google, Jess became hopelessly addicted to making Polyvore sets and decided the only cure was to join the Polyvore team to help build the company. Jess has a degree in computer science from Stanford University. How has your life experience made you the leader you are today? When I was growing up, my mom ran her own small business out of our apartment. Because
SEO Questions Franchise Owners Need to Ask
Asking these questions doesn't always come to mind right away, but these are crucial if you own a franchise. Franchises are constantly growing and by nature have a lot of people working higher positions, so the managers working with you are constantly changing.
Startups: Switzerland's New Graduate Program
By Eva Perrett, Masters Student at Graduate Institute in Geneva Swiss students have dispersed the summer holidays. Among those graduating and entering the job market, a new trend is emerging. More and more young people are founding startups. Idyllically situated with views of Zurich, the Villa Rigi, a former manor house, has bright rooms and a garden that now serve a new purpose: as a headquarters for Swiss startups. Five startups are based here, among them ElectricFeel, a technology spin-off from the university ETH Zürich, with a focus on urban mobility. ...
For Women in Computer Science, Tech Is a Golden Opportunity
Google recently released report acknowledging the lack of diversity in their workforce kicked up a storm. The company says, most of its workforce is white (61%) and male (70%). Worse, a mere 17% of Google's tech workforce is women. By and large, this is not Google's fault.
Someone Left A Loaded Gun In A Walmart Bathroom
Walmart could be the next battleground in the fight over gun rights in retail chains after a loaded revolver was found in the bathroom of a South Carolina store. On the afternoon of Saturday, July 12, a man with a concealed carry permit left his gray Smith & Wesson revolver, loaded with five live .38 caliber rounds, atop the toilet paper dispenser in a stall of the rear men's bathroom of a York, South Carolina Walmart, according to a police report.
The Nature of Work
Young Professionals: Six Keys to Building Your Career
This week two new studies (one by The Economist and one by Quantum Workplace) highlight how rapidly young professionals' view of their careers have changed. While startups continue to be exciting and people desperately want to work for pre-IPO companies, research shows that most Millennials (under the age of 30) are starting to really mature in their career thinking. Here is some data: Young People are Getting more Serious: The days of young people smoking marijuana, hanging around on the street in cities like Berlin, or kids in the UK engaging in binge drinking are slowly coming to an
Subway Worker Claims She Was Forced To Work While Vomiting
A Subway worker in Freeport, Texas, claims she was forced to continue working her shift while suffering from a stomach bug, then was fired the same day. Elizabeth Taff, 24, says she was so sick she could barely stand up straight and vomited several times during her shift on July 11, but her manager refused to let her leave unless she found someone to cover her shift.
To All Corporations: This Is What People Mean When They Talk About Fairness
Google and the German Angst
The other day the German minister of justice, Heiko Maas, was asked in an interview how often he is using Google to crawl the Internet. His answer: "Everyday and in an exorbitant manner. Therefore, unfortunately, I am part of the problem."
Fashion and the Market for Curated Identities
The concept of a curated identity is nothing new, but increased connectivity and consumer conscience has certainly paved the way for what is now a burgeoning market, that ultimately serves to give us more choice, control and flexibility when it comes to what we wear.
The DeWolfe Effect
Have you ever laid awake at night thinking about that entrepreneur who has already forged the path that you are on? I often think of an entrepreneur who has already accomplished much of what I am setting out to do. He is a legend when it comes to real estate brands in New England. His name is Richard DeWolfe.
Culture: Let It Shine in the Tough Times
Here Is The Salary At Which Money Won't Make You Any Happier In Each State
Money can only buy happiness up to a point. But just how much you need to get to that threshold really depends on where you live, according to a new analysis by Doug Short, vice president of research at investment group Advisor Perspectives. Short's analysis found that if you live in a place like Hawaii, where the cost of living is relatively high, you need to make $122,175 per year before some extra cash doesn't really translate into more happiness. In Mississippi, by comparison, the threshold at which more money stops making you happier is a lot lower: $65,850 per
Dodd-Frank at Four
On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act became law. As with human 4-year-olds, the party parents throw may be a little duller than on the first birthday, but the toddler now appreciates the present in the box more than the box itself. Let's look at what's in the box.
Search news on another fundClick here to search for fund symbol