Thursday, June 4, 2015

Balance With OPEC Shifted To Surplus, Beige Book Shows Expansion, and Insider Trading Schemes

  • The U.S. Census Bureau and the Bureau of Economic Analysis (BEA) announced that the goods and services deficit was down almost $10 billion, from $50.6 billion in March. April exports were ~$190 billion, or ~$2 billion more than March. Imports were $7.8 billion less than March. The report also showed a deficit increase of $6.4 billion to 89.1 billion with China. Additionally, and perhaps most salient, the "balance with OPEC countries shifted from a deficit of $1.5 billion to a surplus of $6.2 billion." 
  • The Beige Book was released. The report, which is consolidation of the twelve Federal Reserve Districts, says economic activity expanded from early April to late May. The pace of growth increased in all areas except Dallas and Atlanta. This is just the kind of data Yellen would need to see prior to the June meeting in order to commit to a rate hike.
  • The SEC announced charges against day trader Steven Fishoff, his brother-in-law Steven Costantin, his friend and neighbor Ronald Chernin, and his friend Paul Petrello, also a former day trader who resides in Florida. The U.S. Attorney’s Office for the District of New Jersey also filed criminal charges against the foursome. The SEC alleges that the four were engaged in a $4.4 million insider trader scheme which involved at least 15 stocks. Evidently, the group posed as portfolio managers in order to get information out of investment bankers with insider information in exchange for business. Ballsy.

If you like what you're reading, please join my mailing list to receive blog posts and updates as they occur. If you're an investor with all of your assets tied up in the stock market and cash, you might want to consider a few diversification strategies. Gold is the oldest asset in the world and it's inflation proof. Bitcoin is the gold standard for the cryptocurrency world, which is the fastest growing asset class in the world. Diversifying your portfolio into one or both of these assets can help to insure your portfolio against a stock market crash or inflation. Most importantly, it can help to safeguard the gains you've made over the last 10 years.

Please note that there are other companies that sell gold and Bitcoin on the market, and you should always do your research when making decisions about your portfolio. Just like your personal health, if you're planning on having major surgery, you need to get a second, and sometimes a third, opinion. You want to make sure your surgeon is good and has performed the procedure many, many times.  In the same way, you need to trust your broker and you need to make sure they are reputable. This is the process I used when looking for a broker to recommend.

Full disclosure: RegalAssets compensates me for everyone I send their way, but I would receive compensation from any company I chose to recommend. The only broker I'm recommending is Regal, primarily due to its innovative product offering in my favorite commodities - gold, precious metals and cryptocurrency like Bitcoin. They also have a distinguished track record for success (see below).

Next Steps: Use Regal as one of your options and compare against them. Your other brokers should be able to offer the same level of service and the same low rates. The kit is free and it will provide you with a basis for comparison. Don't wait, get started today. Fill out the form below to get your free investment kit.

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