The Big Number: U.S. households parked a record $ 2.67 trillion in the bank and in money-market funds during 2020, according to the financial accounts of the U.S., released on Thursday by the Federal Reserve. What happened: The COVID-19 pandemic hit the economy hard, but the pain wasn’t felt by …
Read More »
“ ‘We believe that hindsight will show the champion of head-smacking craziness in the American stock market to be the period playing out right now.’ ” That’s billionaire Paul Singer of Elliott Management suggesting that the market for equities has pretty much jumped the shark, in a Jan. 28 letter …
Read More »
Many young Americans say they don’t expect to get Social Security when they retire, but it’s the older workers of today who may see the first cuts to their benefits. The Congressional Budget Office released an updated budget outlook on Wednesday, originally published in July, to reflect the impact the …
Read More »
Have you ever wondered what investment today is the most out of favor? Most of us never even ask this question, since such investments by definition don’t even appear on our radar screens. But, as contrarians constantly remind us, we are vulnerable to making big mistakes by blindly following the …
Read More »