NEW YORK (Reuters) – The scary movie “The Conjuring” may be a winner at the box office this summer, but on Wall Street the real horror show is the gold mining sector.
And the numbers have been as grisly as any low-budget slasher flick.
The Market Vectors Gold Miners ETF stands below $27, producing a year-to-date slump of more than 40 percent. Major producers like Barrick Gold Corp and Newmont Mining Corp sputter near 52-week lows, and the sector’s average price-earnings ratio – a common measure of valuing stocks – is about 75 percent below its 10-year average, according to London-based ETF Securities.
NEW YORK, July 29 (Reuters) – Think of the successful Wall
Street investor, and you are likely to envision a hard-charging,
aggressive, Type-A personality – someone who can carry on
multiple conversations, keep an eye on four computer screens,
yell over the trading din and watch CNBC all at the same time.
What if you have all that wrong? What if it is the quiet
person in the back of the room, and not an extrovert like Gordon
Gekko from “Wall Street”, who is the superior investor?
NEW YORK, July 26 (Reuters) – Anchorage, Alaska, teen Grace
Bolt isn’t spending her summer lolling at the pool or in front
of a video game controller – she’s juggling a variety of jobs
and cashing a variety of paychecks.
The 16-year-old works at her family’s two United Parcel
Service stores, does filing at a medical billing office,
and will be a food vendor at the Alaska State Fair starting in
NEW YORK, July 17 (Reuters) – Sallie Krawcheck may be one of
the most powerful women in American finance, but the former head
of Citigroup and Bank of America’s wealth management businesses
hates doing her own financial plan. Like, really hates it.
“Everything else in life is more interesting than doing a
financial plan,” Krawcheck, 48, told Reuters. “On my own, I
would never do it, ever. For instance, I would never have that
awkward conversation with my spouse about what happens when one
of us dies. I would live to 457 years old before that would
NEW YORK, July 9 (Reuters) – After the financial crisis of
2008 hit their stock portfolio hard, Colorado Springs
information technology contractor Mark Brisley and his wife Evie
Petrikkou were worried.
Casting about for a way to make up big losses, the two hit
upon a strategy often considered the purview of Wall Street
insiders: They could trade options.
NEW YORK, July 1 (Reuters) – In the debate over growing
student debt, there has always been one mitigating factor:
Borrowers tend to be fairly young and there is plenty of time to
pay off what they owe.
So what about those who are not so young?
This is a mounting concern. Those 60 and older now owe $43
billion in student loan debt, according to data from the Federal
Reserve Bank of New York, a new record for that age group.
NEW YORK (Reuters) – When Juliann Reynolds’ husband died of cancer in 1992, she had to decide how to plan her own estate.
The now-retired speech therapist from Rancho Cucamonga, California, knew she had to safeguard the future of her young daughter, Maren. Still, the possibility that her daughter might receive a large chunk of money when she reached the age of consent on her 18th birthday was worrisome, says Reynolds, who is now 65.
NEW YORK (Reuters) – For some people, overspending might mean ordering the lobster or splurging on an extra pair of shoes at Macy’s.
For Julie Fast it’s different. The Portland, Oregon, author woke up one day and decided to go on a trip to China. She obtained a visa, hopped on a flight, enrolled in language school and was conversing in Mandarin within weeks. Along the way, she blew through around $10,000.
NEW YORK (Reuters) – When Theresa Tufaro started running back in her college days, she thought she was taking up one of the cheapest hobbies ever.
“In theory all you need is some workout clothes and a pair of sneakers,” says the 32-year-old, who works as a marketing manager for publisher Scholastic in New York City. “I didn’t quite realize what I was getting into.”
NEW YORK (Reuters) – In the annals of Hollywood, Wall Street has not been treated very kindly.
From “Wall Street” to “Boiler Room”, “Trading Places” to “American Psycho”, the halls of finance are usually portrayed as places of shiny excesses and dark hearts.