Does Girth and Length Depend on Race?

This column may contain strong language, sexual content, adult humor, and other themes that may not be suitable for minors. Parental guidance is strongly advised. How’s this for a relationship red flag?   A newly engaged woman writes Dear Prudence with an unusual dilemma: her fiancé, she discovered somewhat inadvertently, did not want to have […]

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Here’s how Wall Street says to trade Trump’s tax reform

Gary Cohn and Steven MnuchinMark Wilson/Getty Images

Corporations aren’t the only ones set to profit from the Republican tax plan that’s expected to be released this week.

You can too — if you know where to look.

Just focus on the so-called “Trump trade,” which involves betting on the areas of the market poised to benefit most from the pro-business policy overhaul being touted by the president.

Investors have already started piling back into the trade after a long hiatus, as they start to hope for real progress on the policy front. 

But don’t worry, you haven’t missed much yet. If the plan arrives as expected, there’s still a great deal of upside potential to be realized, especially since these same Trump-linked strategies retraced all of their post-election gains — and then some — as investors lost confidence in the president’s proposed policies.

Here’s a quick primer on what matters to investors:

  • Though the Trump administration has released outlines of its objectives before, it’s way behind schedule in terms of getting a detailed tax cut plan in front of Congress. That is supposed to happen in the coming week — maybe as soon as Monday.
  • The key measure investors are focusing on involves a lowering of the corporate tax rate from 35% to somewhere in the 20% range. Trump has pushed for 15% in the past, but that’s being increasingly viewed as unviable.
  • Another that’s being floated is a one-time repatriation tax holiday for companies holding trillions of dollars overseas. They’d be allowed to bring that cash back to the US at a lower than usual rate. It could spur investment in the US, but it’s also very likely to wind up being used to pay dividends and buyback shares. 
  • Another element that investors could trade on is the ability to immediately expense capital expenditures. 

The two most straightforward Trump trades involve buying stock in two types of companies: (1) Those that pay the most taxes and (2) Those that hold the most cash overseas. Lucky for you, both Goldman Sachs and JPMorgan have baskets tracking both groups.

For more detail, here’s a breakdown of how those two firms, plus two other Wall Street titans, recommend investors play tax reform:

Goldman Sachs, part 1

Business Insider / Andy Kiersz, data from Bloomberg

Overview: The chart above shows a Goldman-curated basket of 50 companies that pay high taxes, spread across a variety of US industries.

After a post-election surge, the index saw all of its gains relative to the broader market erased by mid-March. Now, amid rising optimism around some sort of tax cut, it’s been ticking up in recent weeks. 

Top recommendation: Figure out which companies pay the most taxes, then buy their stocks and don’t look back.

Goldman Sachs, part 2

Business Insider / Andy Kiersz, data from Bloomberg

Overview: The second big component of the expected tax plan, a repatriation tax holiday, would incentivize multinational companies — who make a large portion of their earnings overseas — to bring cash held internationally back into the US.

The chart above shows another Goldman index containing the stocks with the highest overseas earnings. After losing their post-election gains, they recovered before spiking in recent weeks on increased policy optimism.

Top recommendation: Figure out which companies hold the most cash overseas, then buy their stocks and don’t look back.


JPMorgan US Equity Strategy & Global Quant Research

Overview: While JPMorgan shares Goldman’s view that highly-taxed companies will benefit from the expected tax reform, it’s also watching closely for the immediate expensing of capital expenditures (capex). If that were to go into effect, it would benefit asset-heavy industries, most notable energy and industrial companies.

In terms of the previously-mentioned lowering of corporate taxes, JPMorgan estimates that if the statutory tax rate is cut just 10 percentage points to 25%, that would boost the S&P 500’s earnings per share by $11.40 to $143.40 — and add more than 150 points to the index, which is fresh off a series of record highs.

And with the stock market serving as a handy signaling device for the likelihood of policies being introduced, JPMorgan also sees areas of the bond market vulnerable to new the repatriation portion of the tax plan.

“Tax reform that repatriates foreign cash and eliminates interest deductibility would greatly reduce US corporate bond supply and should thus on net tighten credit spreads,” analysts led by Jan Loeys, the firm’s head of global asset allocation, wrote in a recent client note.

Top recommendations:

  1. Buy stocks of companies paying high taxes
  2. In the event of immediate capex expensing, buy stocks of companies in asset-heavy sectors like energy and industrials over those in asset-light sectors
  3. Keep an eye on the potential for tighter credit spreads

See the rest of the story at Business Insider


Mountain highs: trekking without borders in the Balkans

It’s no easy stroll … but a spectacular new Balkan trail provides soaring peaks, lake views and memories of friendly locals – and real endeavour

The views from Kosovo’s highest peak are incredible. Or so I’m told. It’s a tricky thing to confirm in blanket murk and howling winds. I’ve just leaned into a gale to reach the 2,656m summit of Mount Gjeravica, where a shabby concrete marker displays a defaced plaque commemorating Kosovo’s first and only Olympic medallist. At this point, the marker and the plaque are the only things I can see. All around, clouds rush and squalls blow. “Yesss!” shouts the man next to me, holding on to his hat. “I love it!”

Continue reading…


What To Consider When Applying For a Mortgage In Hong Kong

What to Consider When Applying for a Mortgage in Hong Kong Before you apply for a mortgage in Hong Kong, it is vital that you conduct a thorough research first. This is one of the biggest loans that you will ever make in your life. You want to make sure that you will approach it carefully and with much thought. Knowing the status of the housing market is a great way to start.   According to an article published in Bloomberg.com, Hong Kong homeowners should brace themselves for a decline in the value of properties in this region. Apparently, home values are threatened by the behaviour of the Hong Kong stock market. Experts believe that the decrease in retail sales, a decline in port activities, and a slowdown in Chinese tourism will affect the housing market in Hong Kong. Add to that the reputation of this region as being one of the most expensive real estate investment – you can see why the housing market is going to experience a downward turn in the next few months.   This data, as scary as it seems, does not have to get rid of your hunger to be a home owner in

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Shop the Clothing Trend Zoë Kravitz and Martine Cajucom Have Been Wearing

If you’re a fan of layering with camisole tops, you might want to consider copping some slip dresses too. It has become somewhat of a wardrobe staple as we see it in retail stores and Instagram feeds of celebrities. Martine Cajucom wore a nude slip dress and paired it with slides and a woven bag. […]

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How to announce a funding round

 Attracting investment is a milestone for any startup – it’s a vote of confidence from a respected outside expert in your space and a signal that your company is positioned for the future, which is important to prospective partners and customers, as well as future investors. Beyond that, new funding can also increase your visibility, attracting the attention of top talent and… Read More


Brave, brave woman lets a huge spider crawl all over her face


After a woman in Pensacola, Florida discovered a golden orb weaver (a type of spider) in her home, she decided to relocate it to a “more appropriate location” — one that we assume is not inside a house.

But before being subjected to relocation, the spider decided to crawl around on the woman’s face. Surprisingly, the woman seemed fairly cool with that, a reaction to which I absolutely cannot relate. (To be fair, it’s not a particularly aggressive spider and does have a low-risk bite, but … still.)

Here’s hoping this yellow friend has now woven a beautiful circular web somewhere in the Great Outdoors. Read more…

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NASA honors ‘Hidden Figures’ inspiration with a new research facility


More than 50 years after Katherine Johnson first helped send astronauts into space, the once “hidden figure” is hidden no more at NASA. 

The federal agency named a new research facility in Johnson’s honor this week. The Katherine G. Johnson Computational Research Facility at Langley Research Center in Hampton, Virginia opened Friday. 

Johnson was part of a group of black women mathematicians whose calculations — done by hand — were essential to NASA’s early space missions. She was memorably portrayed by Taraji P. Henson in the movie Hidden Figures last year.  Read more…

More about Entertainment, Nasa, Hidden Figures, Katherine Johnson, and Science


Amazon will deliver Chipotle, Chili’s, and your other fast-casual faves


The food-delivery wars never end, and now Amazon has a new play against Postmates and UberEats. 

The Whole Foods owner just partnered with Olo, a restaurant software system used by many popular fast-casual eateries. The partnership means that most restaurants using the Olo system will now be available for delivery on Amazon Restaurants. 

For the most part, these are the kinds of places you can usually only order from on Postmates: fast-casual restaurants that don’t offer their own delivery. Think Chipotle, Applebee’s, Sweetgreen, Shake Shack, Chili’s, Red Robin, Noodles & Company, and Jamba Juice.  Read more…

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‘Just imagine how far you can go with a little English’ Croatian language school falls foul of Melania Trump

A Croatian language school has gotten into trouble for billboards depicting United States First Lady Melania Trump. The billboards, which were scattered around the Croatian capital Zagreb, showed the First … Read more

The post ‘Just imagine how far you can go with a little English’ Croatian language school falls foul of Melania Trump appeared first on Lost At E Minor: For creative people.


The Easter egg in Apple’s new App Store and why it matters


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