News on Permanent Portfolio Fund (PRPFX)Friday August 22nd 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)
Latest business news
Friday August 22nd 2014: Latest financial news from the worldYellen says job market still in recovery
By Howard Schneider JACKSON HOLE Wyo. (Reuters) - Federal Reserve Chair Janet Yellen called for a "pragmatic" approach to U.S. In a speech at the Fed's annual central banking conference, Yellen laid out in detail why she feels the unemployment rate alone was inadequate to evaluate the strength of the jobs market and why the central bank needed to move cautiously on raising rates. At the same time, she nodded to the concerns of some Fed officials who are growing uneasy with the sustained level of its monetary policy stimulus. Ahead of her comments, a number of other top Fed officials had pressed their case for an early hike in benchmark rates, which have been held near zero since December 2008.
Argentina slams U.S. judge as 'imperialist,' peso halts rout
By Jorge A. Otaola and Richard Lough BUENOS AIRES (Reuters) - Argentina on Friday accused the U.S. District Judge Thomas Griesa blocked payments to holders of issued under U.S. Griesa ruled that measures proposed by Argentina's president late on Tuesday to make debt payments locally and push bondholders to bring their debt under Argentine law violated past court rulings. President Cristina Fernandez's measures, if enacted and executed, would potentially allow Argentina to skirt Griesa's court orders and thus resume interest payments on an estimated $29 billion in restructured bonds.
Wall Street little changed after Yellen comments
"The reaction was a few weeks ago when the GDP number came out," said Michael Marrale, head of research, sales and trading at ITG in New York. "At that point I thought you’d have some who step up and would want to sell the news in anticipation of a rate hike coming sooner than expected at that time, so I think people have already positioned for that." Investors will also monitor the situation in Ukraine after authorities there said trucks from a Russian aid convoy had crossed into Ukraine without permission, a move it described as a "direct invasion" of its territory.
Dynegy cuts exposure to wholesale power with deals worth $6.25 billion
Power company Dynegy Inc said on Friday that it would buy coal and gas power plants for $6.25 billion to increase its presence in two less regulated eastern U.S. The deals for select assets of Duke Energy Corp and Energy Capital Partners will nearly double Dynegy's national generating capacity and allow the company to retail electricity in Illinois, Ohio, Pennsylvania and Michigan, increasing its exposure to the PJM and New England markets. Earlier this year, Wisconsin Energy Corp said it would buy Integrys Energy Group Inc for $5.71 billion about two months after Exelon Corp agreed to buy Pepco Holdings Inc for $6.83 billion to cut exposure to the wholesale power market.
McDonald's Names new U.S. unit president, second in two years
McDonald's Corp MCD.N is changing the leadership at its struggling U.S. McDonald's, the world's biggest fast-food chain by revenue, on Friday named former McDonald's executive Mike Andres as president of McDonald's USA, replacing Jeff Stratton, who had been in the job since December 2012. Thompson, who became president and CEO in July 2012, has presided over a period of disappointing results from the U.S. He rejoins McDonald's after serving as chairman and CEO of restaurant chain Logan's Roadhouse Inc. He also will oversee the Canada business.
Exclusive: Apple iPhone 6 screen snag leaves supply chain scrambling
By Reiji Murai TOKYO (Reuters) - Suppliers to Apple Inc are scrambling to get enough screens ready for the new iPhone 6 smartphone as the need to redesign a key component disrupted panel production ahead of next month's expected launch, supply chain sources said. It's unclear whether the hiccup could delay the launch or limit the number of phones initially available to consumers, the sources said, as Apple readies larger-screen iPhones for the year-end shopping season amid market share loss to cheaper rivals. Cupertino, California-based Apple has scheduled a media event for Sept. 9, and many expect it to unveil the new iPhone 6 with both 4.7 inch (11.94 cm) and 5.5 inch (13.97 cm) screens - bigger than the 4-inch screen on the iPhone 5s and 5c. Two supply chain sources said display panel production suffered a setback after the backlight that helps illuminate the screen had to be revised, putting screen assembly on hold for part of June and July.
U.S. labor market less flexible than in 1990, economists warn
The research by two top labor economists portrayed the United States as potentially losing one of its notable economic strengths - the robust flow of workers between jobs, and the churn of employment as companies succeed and fail. Those and other forces have driven down measures of labor market "fluidity" by as much as 25 percent since 1990, a trend that could translate into lower employment levels, productivity and wages, economists Steven Davis of the University of Chicago and John Haltiwanger of the University of Maryland wrote in a research paper prepared for the annual central banking conference in Jackson Hole, Wyoming.
GM reviewing timing of Russia plant expansion
General Motors Co said on Friday it was reviewing the timing of the expansion of its Russian plant near St Petersburg because of a slump in the auto market. The plant currently makes Chevrolet Cruze, Opel Astra, and Chevrolet Trailblazer models. "In view of the current business situation in Russia and the lower sales volumes since the start of the year, we are taking a close look at our plans. As part of this, we are also reviewing the timing of our expansion plans at the GM Auto Plant in St Petersburg," GM's spokesman said.
Russia keeps up pressure on McDonald's with new inspections
By Vladimir Soldatkin MOSCOW (Reuters) - Russian authorities extended their scrutiny of McDonald's to several regions on Friday, carrying out inspections at a number of restaurants run by the U.S. The inspections are viewed by many businessmen as retaliation for Western sanctions against Russia because of its support for separatist rebels in eastern Ukraine, and they fear the retribution could spread to other symbols of Western capitalism. A spokeswoman for the country's food safety agency, Rospotrebnadzor, said the inspections were not related to the standoff. Checks in Tatarstan were announced on Thursday.
Valeant, Ackman to submit Allergan special meeting request-CNBC
(Reuters) - Valeant Pharmaceuticals International Inc and Pershing Square Capital Management will submit a request on Friday to Allergan Inc for a special shareholders meeting, sources told CNBC television. Allergan's corporate bylaws require Valeant and Pershing Square to have more than 25 percent of shareholders' votes in favor of holding the meeting. Allergan is fighting Valeant and Pershing Square's $49 billion offer to buy the company. Pershing Square owns nearly 10 percent of Allergan.
Decision could boost use of popular weed killer
WASHINGTON (AP) — Faced with tougher and more resistant weeds, corn and soybean farmers are anxiously awaiting government decisions on a new version of a popular herbicide — and on genetically modified seeds to grow crops designed to resist it.
Deadline to clear up health law eligibility near
Athens Olympics leave mixed legacy, 10 years later
ATHENS, Greece (AP) — In an obscure corner of a park sits a forlorn reminder that, 10 years ago, Athens hosted the 2004 Summer Olympics. The crumbling miniature theater is inscribed with the words "glory, wealth, wisdom, victory, triumph, hero, labor" — and it is where visiting Olympic officials planted an olive sapling that would bear their names for posterity.
Wal-Mart: Try, try again
NEW YORK (AP) — Wal-Mart thought shoppers would like the opportunity to use a smartphone app to scan items they want to buy as they walk through store aisles. In theory, they could speed through self-checkout.
Like stocks, junk bonds show investor jitters
Stocks mostly higher, Japan shrugs off GDP drop
MUMBAI, India (AP) — Global stock markets overcame a contraction in Japan's economy and jitters about Ukraine and Iraq to mostly rise Wednesday, but analysts said new geopolitical developments would likely make for volatile trading.
Japan's economy shrinks as tax hike hits spending
TOKYO (AP) — The Japanese economy shrank at an annual pace of 6.8 percent in the second quarter after spending got slammed by a sales tax hike that kicked in from April, government figures showed Wednesday.
Creditor opposes Detroit debt plan, says scrap it
DETROIT (AP) — A major Detroit creditor on Tuesday objected to the bankrupt city's plan to wipe out or reduce billions of dollars in debt, saying it should be scrapped before a trial scheduled to start next week.
Revenue report due as Atlantic City casinos close
Asia stocks drift as Iraq, Ukraine tensions simmer
MUMBAI, India (AP) — Asian stocks drifted on Wednesday as investors remained cautious amid uncertainty over potential conflict in Ukraine and Iraq plus new numbers showing a slowdown in Japan's economy.
What Will You Choose to Wear Today: Faith or Fear?
Do you know fear is an illusion? It is a feeling portrayed as an invincible wall that denies us access to what we assumed is impossible to our goals and dreams. It is what determines how we perceive opportunities. It is generally what fuels our insecurities during an unforeseen storm delaying our journey to destiny. To some, a problem creates...
10 Ways to Rock Your Next Interview
Interviewing can be a hard thing to master, but it doesn't mean you can't get better at it over time.Check out my top 10 interview tips based on my own experiences interviewing others for research and career/educational opportunities, being interviewed for jobs and internships, interning with CBS Human Resources recruiters, interviewing...
How My Job Saved Me
"No tears in the writer, no tears in the reader." -- Robert FrostBefore you roll your eyes at the idealistic nature of this title, know this about me -- I'm not one of those people who skips dinner to stay at the office until 9:30 p.m. I'm not the guy who won't shut up about his job in between sips of Guinness at Friday's Happy Hour.But...
Margins Remain Suspicious
Second-quarter earnings season is nearly in the books, so we decided to provide an early progress report. According to data obtained from Bloomberg, 95 percent of the companies in the S&P 500 have reported their 2Q results. Based on the preliminary data, earnings grew 9.5 percent on 4.4 percent revenue growth in the quarter. These are...
Should Small Businesses Use Automatic Employee Scheduling?
Automatic scheduling for staff can sound like a god-send to a small business owner. It's a relatively cheap solution to what traditionally has been a HR nightmare. The corporate stereotype has long been the 9-5 job. Eight hours a day, Monday through Friday, set and done. But certain industries, like retailers, restaurants, and hotels, have to...
The 6 Things You Need to Know to Be Great in Business
There are no shortcuts in business. In order to be successful there are some things that you must know. These are not all of them by a long shot, but IMHO they are 6 of the most important.1. Know how to sell.Selling means being able to convey why your product or service, which may be you if you are looking for a job, will make things better....
The Super Rich and Their Strange Allies
If you read the fairy tale weaved by the major media and our history books, we would believe that liberal policies are beneficial to everyone, whether those policies are popular are not. The upper classes can complain all they want, but they sleep better at night knowing that the government is generous with their wealth, even if those wealthy...
On The Menu: 7 Questions for Scott Gottlich
The Dallas culinary scene is buzzing and chef Scott Gottlich is a big part of that. Praised by food critics, the owner and executive chef of The Second Floor and Bijoux uses seasonal ingredients with a French flair. Bijoux was named one of the Top 10 Hottest New Restaurants in America by Bon Appétit and earned multiple 4-star reviews from The...
Keep CALM and Manage On
Recently after a difficult customer interaction a co-worker asked me, "How do you remain so calm?" I was hard pressed to answer that question. But when I thought about it, my response was twofold. Philosophically, I believe in not getting worked up over things out of my control. The second reason -- and why I'm writing about this -- is improv....
The Robots Are Coming and 'Humans Need Not Apply'
It has been about five years since the publication of my 2009 book The Lights in the Tunnel: Automation, Accelerating Technology and the Economy of the Future, which argued that we were on the brink of a revolution in robotics and artificial intelligence that would put millions of jobs at risk -- and quite possibly threaten our overall...
The Internet of Things 2014 [Slideshare]
Internet of Things from Vala Afshar Responding to her Friday morning alarm, Stacey gets out of bed. Simultaneously, items throughout her house begin preparing for the day. Although it is cloudy outside, the interior is lighted with tones of a beautiful sunrise, per Stacey's personalized lighting scheme. The water heater makes sure the...
Why a Good Business Partner Can Be Bad
Too often we hear reasons as to why business partners can be bad. If you have an argument, then who gets the business? What if one partner doesn't pull their weight? However, I'm coming from a different perspective. This is for those that have had an amazing business partner, so good that they allowed you to not have to focus at all on a...
An Awareness That Amazes Me
I work with several young people who are starting out in entrepreneurship and social entrepreneurship. I learn so much from them.I am really honored to have this experience of working with them. When I look back at how I started after college it was a headfirst dive into the rat race, defining success without really thinking about it.These...
The Balancing Act: Your 9-5 vs. Your Passion-Based Business
I've had the privilege of working at Fortune 500 companies throughout my entire professional career. Despite generous compensation packages featuring six-figure salaries, stock options, and performance bonuses, the reality became clear: I would not be able to control my destiny without owning a business. According to Forbes' recent listing, the...
Take a Break - Or Else
Business owners can be relentless in their drive to succeed. Failure is unacceptable and the word flashes constantly, like a neon beacon in their brains. They dread making a false step or taking their eye off the ball for even one moment. Working long hours, eating poorly, sleeping worse, operating at very high levels of stress, they can't get...
Creating Gender and Cultural Diversity in Your Organization
To improve diversity and gender equality in our companies, we should do what Stephen Covey advises us to do with our personal careers and lives: Begin with the end in mind.After all, if we don't know where we're going, how can we possibly expect to get there?Just as every company has a profit and revenue goal, every company should have gender...
Are Life and Business Difficult?
"Life is difficult." That's the start of M Scott Peck's brilliant book The Road Less Traveled. I agree strongly. And I disagree strongly too. That life is difficult, says Peck, "is a great truth because once we truly see this truth, we transcend it. Once we truly know that life is difficult -- once we truly understand and accept it -- then...
5 Ways to Spot Monkey Mind
Everyone reading this knows what it's like to worry or fret or fixate on something. In business and our personal lives we face problems everyday. Whether you are thinking, or should I say obsessing, about a date, a job, or even an argument you had a year ago, we all know what it feels like when our mind hijacks our life. Everything takes a back...
Top Keys to Mitigating Risk in Your Startup
No matter what, you're going to face risks as an entrepreneur of a startup company, but there are always ways to minimize those potential risks. Most first-time entrepreneurs are either overwhelmed by the sheer quantity of dangers they face as they step into the role, or are oblivious and underprepared for those risks due to lack of experience....
10 Principles of Effective and Authentic Leadership
There is a great amount of definitions and theories about effective leadership. Each leader chooses their unique formula of success, but still there are keys to authentic leadership that can't be ignored. Below are 10 important principles each leader should know.1. Leadership Is Behavior, Not PositionLeaders are the ones who take...
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