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☆ Elon Musk’s X is worth nearly 80% less than when he bought it, Fidelity estimates
▼ + stars: | 2024-10-02 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity. The new valuation from Fidelity implies that it believes X is now worth just $9.4 billion — a far cry from the $44 billion that Musk paid. Other investors could value X differently. Ives said that he believes Twitter was really worth around $30 billion when Musk bought it, and today it’s worth closer to $15 billion. “When Musk bought Twitter, investors didn’t realize we’d be taking off on AI as fast as we are,” Munster said.

Persons: Elon Musk, ” Dan Ives, Ives, Twitter, Musk, Kantar, White supremacists, dumbest, Similarweb, Gene Munster, doesn’t, ” Munster, Munster, Musk’s, didn’t, we’d, “ Organizations: New, New York CNN, Twitter, Fidelity, Growth, Musk, Wedbush Securities, CNN, Google, Deepwater Asset Management, xAI Locations: New York, United States, X.com

☆ Fidelity fund again trims Elon Musk’s X valuation
▼ + stars: | 2024-01-02 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

The latest disclosure by a Fidelity mutual fund reflects a long-running trend that has steadily reduced X’s estimated value over the past year amid successive crises at the company, many of which have been driven by owner Elon Musk. The filing said its shares in X represent less than .01% of the total value of the fund, which it said is more than $49 billion. Fidelity did slightly increase its estimated value of X multiple times last summer, around when Linda Yaccarino became X’s CEO. Since then, however, Fidelity has continued to cut the estimated value of its X shares. With X being privately held, Fidelity’s estimates have emerged as a closely watched indicator of X’s health and a reflection of the attitudes of Musk’s own investors.

Persons: Musk, Elon Musk, Fidelity’s, Linda Yaccarino Organizations: CNN, Investment, Fidelity, Twitter, Growth, Axios

☆ Fidelity rolls out suite of new ETFs, slashes fees
▼ + stars: | 2023-11-13 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Nov 13 (Reuters) - Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts. So far this year, asset managers have launched 419 ETFs, according to Morningstar Direct, taking 2023 a step closer toward breaking the 2021 record of 475 new ETFs. The move will boost Ark's lineup from eight ETFs to a total of 15. The Fidelity products offer fees of 18 basis points to 28 basis points, compared with an average fee of around 63 basis points for actively managed ETFs, according to Bryan Armour, mutual fund analyst at Morningstar. "These are very, very substantial reductions, and the new fees are very low," said Armour.

Persons: John Hooson, Harriman, Bryan Armour, Suzanne McGee, Ira Iosebashvili, Deepa Babington Organizations: Fidelity, Morningstar, Invest, 21Shares, Brown, Thomson

☆ How to Invest in Mutual Funds
▼ + stars: | 2023-10-11 | by ( Mallika Mitra | ) www.wsj.com time to read: +20 min

Mutual funds are relatively cheap and simple to invest in, thanks to the many trading apps and online brokerages available nowadays. To get started, read on for our 10-step guide on how to invest in mutual funds. Once you open an account, you can invest in a wide range of securities, like stocks, bonds and mutual funds. Buy mutual fund sharesNow that you’ve solidified your strategy and done your research, you are almost ready to buy mutual funds. How to buy mutual fund sharesSome mutual funds require an investment minimum, often between $500 and $3,000, but not all do.

Persons: Mallika Mitra, Tricia Rosen, ”, Rosen, “, Ameritrade, Roth, Roth IRAs, Uncle Sam, you’ve, Randy Bruns, it’s, Morningstar, Russell, hasn’t, Amy Arnott, John Bogle, Morningstar’s Arnott, pitfall Arnott, You’ll, you’ll, Don’t, Sam, haven’t Organizations: Mutual, Fidelity, Vanguard, Morningstar, SEC, Apple, Fidelity Investments Fidelity, Target, Walmart, Funds, Capital Group, Capital Group’s, The Securities, Exchange Commission, Social, Consumer, Morgan, Capital Locations: Andover, Mass, Naperville , Illinois, U.S

☆ Markets in Q3: Gains, pains and oil reigns
▼ + stars: | 2023-09-29 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. Gold has lost its shine too meaning that only oil and gas, cash and the dollar have proved reliably profitable. “If you are going above $100 a barrel and staying there you are starting to create that inflation narrative again”. Athens’ main stock market is up 26.5% this year, even if it is down 11% since July. “The comforting news for Q4 though is that we should be close to peak (global) interest rates,” Metcalfe said.

Persons: Christian Hartmann, It’s, Salman Ahmed, Japan’s, ”, Robert Alster, El Salvador’s, Tayyip Erdogan’s, Argentina’s, Michael Metcalfe, ” Metcalfe Organizations: REUTERS, Christian, Federal Reserve &, Macro, Deutsche Bank, Management, Russia, U.S, Athens ’, Apple, Microsoft, Nvidia, Tesla, Meta, Street Global Markets, Indicators Locations: Paris, France, Saudi Arabia, Russia, Ukraine, Greece, Athens, Pakistan, Britain’s, Turkey, Nigeria, Colombia, Mexico, U.S, Poland, Ecuador, Japan

☆ Retirement savings: Average 401(k) account balances have risen, Fidelity finds
▼ + stars: | 2023-08-17 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

Overall the average 401(k) balance rose to $112,400, up 4% from the first quarter. And compared to a decade ago, the average balance is 39% higher. In tracking savings growth over the past year, Fidelity found that the average 401(k) account for Baby Boomers rose 6.3%. That’s well above the second quarter average — $220,900 — for everyone in that age group. In the second quarter, Fidelity found that total contribution rates — the employee’s savings plus their employer matches — averaged 13.9% of one’s gross income.

Persons: Gen Xers, ”, Kevin Barry Organizations: New, New York CNN, Fidelity Investments, Fidelity, Boomers Locations: New York

☆ This Is The Best Debit Card for Teens Who Want to Try Their Hand at Investing
▼ + stars: | 2023-08-05 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +5 min

With Fidelity’s Youth Account, teens can experience firsthand the risks and rewards of investing. There are other debit card accounts available to under 18-year-olds that also offer investing services, but most charge a subscription or other fee to take advantage. Greenlight, our pick for best overall debit card for kids, for example, costs $9.98 a month if you want access to its investing platform. Chase’s First Banking debit card, our pick for best free debit card for younger children, also offers a range of spending controls. How we pickedTo pick Buy Side from WSJ’s Best Debit Cards for Kids, we looked at card options available to those under the age of 18, including prepaid debit cards, checking account-linked debit cards, secured credit cards and brokerage account-linked debit cards.

Persons: Kerri Anne Renzulli, Roth Organizations: Fidelity, Learning, Fidelity ZERO

☆ The Best Debit Cards for Kids and Teens
▼ + stars: | 2023-07-02 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +15 min

Banks, credit unions, financial technology companies and even investment firms all offer debit cards geared toward under 18-year-olds. With Greenlight, children receive a physical debit card with their name on it. In addition to its abundance of customizable features, Greenlight also rises above other kids debit cards thanks to the educational tools and games included in its app. This is possible because the Step Visa Card is not technically a debit card, though it functions very similarly. How we pickedTo pick Buy Side from WSJ’s Best Debit Cards for Kids and Teens, we looked at card options available to those under the age of 18, including prepaid debit cards, checking account-linked debit cards, secured credit cards and brokerage account-linked debit cards.

Persons: Kerri Anne Renzulli, they’ve, Banks, we’ve, Greenlight, Chase, it’s, Side’s, —, Equifax, Roth Organizations: Community Federal Savings Bank, Capital, Teens, Chase, Teen, Fidelity, Learning, Kids

☆ Twitter may be worth only a third of its pre-Musk value, Fidelity says
▼ + stars: | 2023-05-31 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

Washington CNN —A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October. According to a monthly disclosure, Fidelity’s Blue Chip Growth Fund reported that its stake in Twitter was worth $6.55 million at the end of April. That’s down from the $19.66 million the Fidelity fund said its stake was worth in October as Musk was finalizing the acquisition. The revision implies Twitter may be worth only $15 billion overall, as opposed to Musk’s $44 billion purchase price. Fidelity has repeatedly marked down Twitter’s value.

Persons: Elon Musk, That’s, Musk, Linda Yaccarino, – CNN’s Matt Egan Organizations: Washington CNN, Elon, Growth Fund, Twitter, Fidelity, Reuters, Bloomberg

☆ What Is a Money Market Fund?
▼ + stars: | 2023-04-04 | by ( ) www.wsj.com time to read: +11 min

“Money market funds have become a much more interesting place,” says Jay McLaughlin, institutional sales manager for iMoneyNet, a research firm that follows the money market fund industry. How money market funds workThe first thing for investors to understand is that money market funds are mutual funds, not bank accounts. Municipal money market fundsMunicipal money market funds appeal to many high-income investors because of their tax-exempt nature. One popular muni money market fund is the $17 billion Vanguard Municipal money market Fund (VMSXX) and its current 7-day yield of 2.65%—a yield which on its face is lower than other fund types, but after taxes are considered, can actually be higher for some investors. How to get the best money market fund ratesTypically your stock trading platform may have a default money market fund for its clients, established at your initial sign-up, as a kind of placeholder to keep your cash.

☆ The Only 401(k) Savers Who Didn’t Lose Money in The Past Year
▼ + stars: | 2023-02-24 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments . While the average nest egg among Fidelity’s accounts lost 23% in 2022, Gen Z workers born between 1997 and 2012 posted a gain of 14%, the investment company and retirement plan provider said. Every other age group lost money. This wasn’t investment savvy or beginner’s luck so much as the good fortune to not have that much invested yet as markets tanked, the data suggests.

☆ Best Online Stock Trading Platforms of 2023
▼ + stars: | 2023-02-02 | by ( ) www.wsj.com time to read: +20 min

Luckily, the past few years has seen a profusion of online stock trading platforms. We spent hours comparing more than a dozen stock trading platforms looking for the most intuitive tools, in-depth research and access to guidance and other educational content. We considered all of this when making our picks for the Best Stock Trading Platforms of 2023. How we pickedTo pick Buy Side from WSJ’s best stock trading platforms, we reviewed offerings from more than a dozen companies. Morgan Stanley is the corporate parent of E*Trade, one of the stock trading platforms considered for this story.

☆ What Is a Robo Advisor, and Do I Need One?
▼ + stars: | 2022-12-16 | by ( ) www.wsj.com time to read: +9 min

That’s where a robo advisor can help. A robo advisor is a digital, automated service that makes investing easy because it picks securities for you. How to start investing with a robo advisorGetting started investing with a robo advisor is designed to be easy. Robo advisor accounts are well-suited for anyone who is comfortable being online but needs a nudge to invest and would rather not do it themselves or doesn’t have the means to hire an individual financial advisor. Betterment and Wealthfront, for example, offer savings accounts, which pay substantially more than traditional bank savings accounts, as well as checking accounts and debit cards.

☆ The Caregiver's Lament: How to handle the costs of care
▼ + stars: | 2022-11-29 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

In fact, the United States has 53 million unpaid caregivers, according to a study by the National Alliance for Caregiving and the AARP. No wonder 62% of caregivers for loved ones with disabilities or special needs report being overwhelmed by financial stress, according to Fidelity. However, “programs do exist at the federal and state level to help families and caregivers,” said Dyvonne Body, author of the Aspen Institute report. “In our surveys, 46% of caregivers don’t even think to ask about benefits like that,” said Fidelity’s Stoddard. Long-term care insurance helps with issues like home healthcare and nursing homes, with policy premiums generally cheaper the earlier you secure coverage.

☆ Best Online Stock Trading Platforms of 2022
▼ + stars: | 2022-10-15 | by ( ) www.wsj.com time to read: +15 min

Luckily, the past few years has seen a profusion of online stock trading platforms. We spent hours comparing more than a dozen stock trading platforms looking for the most intuitive tools, in-depth research and access to guidance and other educational content. We considered all of this when making our picks for the Best Stock Trading Platforms of 2022. How we pickedTo pick Buy Side from WSJ’s best stock trading platforms, we reviewed offerings from more than a dozen companies. Morgan Stanley is the corporate parent of E*Trade, one of the stock trading platforms considered for this story.

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