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☆ TikTok 'finfluencers' accurately called the AI rally, but credibility concerns dog them
▼ + stars: | 2024-08-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

The team then tracked the prices of the recommended stocks from the day the videos were posted up until June 21, 2024. The most profit that an investor could have generated from a single stock would have been Nvidia, which grew 63.08% in the period surveyed. If a person invested $1,000 in every stock recommended in the one video that got the most bets right, the gains would have amounted to $4,860. On the other hand, putting money into all the stocks recommended in the video that got most bets wrong would have led to a loss of $1,517. "Furthermore, a single period coincident result does not translate to a definitive conclusion of predictability in the long run."

Persons: Dado Ruvic, Let's, —, Gerald Wong, Wong, Jeremy Tan, Jiang Zhang, — Zhang, Tan Organizations: Reuters, Nvidia, Qualcomm, Google, Ginkgo, Holdings, CNBC, Tiger Fund Management, Management, Investor Locations: York, Singapore

☆ $1 million hypothetical portfolios: How kids from wealthy families at an elite Swiss school learn about money
▼ + stars: | 2024-07-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Research shows taking a financial education class in high school does pay off. "Let's not leave financial education to TikTok," she said. Let's not leave financial education to TikTok. Yanely Espinal director of educational outreach at Next GenMany studies also show there is a strong connection between financial literacy and financial well-being. In addition, a study by the Brookings Institution in 2018 found that teenage financial literacy is positively correlated with asset accumulation and net worth by age 25.

Persons: dem Rosenberg, dem Rosenberg Bernhard Gademann, It's, Gademann, Tim Ranzetta, Yanely Espinal, Espinal, Let's, Yanely, Christiana Stoddard, Carly Urban Organizations: dem, Finance, Research, Tyton Partners, CNBC, Financial Wellness, National Endowment, Financial Education, Financial, Investor Education Foundation, Brookings Institution Locations: St . Gallen, Switzerland

☆ Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
▼ + stars: | 2024-06-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

The bad news: account balances for the median 401(k) of a person approaching retirement (65+) remains very low. Higher returns, participation rates, savings ratesWhy do we care so much about 401(k) plans? Thanks to a change in the law several years ago, a record-high 59% of plans offered automatic enrollment in 401(k) plans. By switching to automatic enrollment, participants were automatically enrolled and had to "opt-out" if they did not want to participate. Plans with automatic enrollment had a 94% participation rate, compared with 67% for voluntary enrollment plans.

Persons: John James Organizations: Vanguard, Fidelity, Social Security, Institutional Investor Group, Social, Security, Pension Rights Center

The best way to avoid identity theft is to be aware of common scams and their tell-tale signs. Online account tax scamsThe Internal Revenue Service has come out with guidance on this particular scam. It involves scammers who try to sell or offer help with setting up an online account with irs.gov , and it can subject your personal and tax information to identity theft. Make sure that any online tax account that you open begins at irs.gov. The most common one involves the supposed employer sending you a fake money order or fake company check to deposit into your bank account.

Persons: —, scammers Organizations: Service, Federal Trade Commission, FINRA Investor Education Foundation, Revenue Service, IRS, Valentine's Locations: irs.gov

☆ More States Now Require Financial Literacy Classes in High Schools
▼ + stars: | 2023-12-01 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

Requiring all students to take a financial literacy course can help reduce such inequality, Mr. Pelletier said. Carly Urban, a professor of economics at Montana State University who studies financial literacy, said that discussions about what topics should be taught in classrooms are often bitterly divisive, but state legislators appear to be finding common ground supporting high school financial instruction. Most American adults said they wanted their states to require a semester- or yearlong financial course to graduate from high school, according to a 2022 poll from the National Endowment for Financial Education. Over the years, questions have arisen about whether high school financial literacy classes are effective. High school financial instruction, she said, “overwhelmingly” improves credit scores, lowers loan delinquency rates and reduces the use of risky services like payday lending.

Persons: —, Pelletier, Carly Urban, Urban, “ Organizations: FINRA Investor Education Foundation, Financial Industry Regulatory Authority, Montana State University, National Endowment, Financial Education, Champlain College

☆ Gen Z doesn't want financial advice from banks or celebrities. They're going to mom and dad instead.
▼ + stars: | 2023-11-06 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

They beat out banks, friends, and celebrities as the most frequent source of financial advice. Another survey found that over 6 in 10 Gen Z said they were still financially dependent on their parents. AdvertisementAdvertisementYounger people in need of financial advice are not turning to banks or successful entrepreneurs — they're going to mom and dad instead. To be sure, family isn't the only source of financial information for Gen Z. AdvertisementAdvertisementThat made it the most frequent source among the 948 US Gen Z respondents surveyed, slightly edging out web searches and family.

Persons: Gen Z, —, Insider's, Bill Gates, Experian, Z Organizations: Service, Morning, Microsoft, Experian, CFA Institute, Financial Industry, Authority Investor Education Foundation

☆ There are just six bitcoin billionaires in the world, new crypto super-rich report says
▼ + stars: | 2023-09-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

A new report shows how many crypto millionaires and billionaires exist. Hundreds of millions of people around the world have some form of crypto holdings, whether that is in bitcoin or one of the many other digital currencies. To be exact, 425 million people use crypto, according to Henley & Partners' Crypto Wealth Report, which was released by the investment migration consultancy on Tuesday. And 22 people have crypto holdings worth at least $1 billion. Six of them hold their investments in bitcoin — a far smaller proportion than among the crypto millionaires and centi-millionaires.

Persons: Crypto, Gen Organizations: Henley & Partners, CFA Institute, Financial Industry, Investor Education Foundation, Pew Research Locations: bitcoin

☆ Gen Z investors sway harder to the beat of rising inflation and higher interest rates than their older peers. But passive investing beats pro trading, says an analyst.
▼ + stars: | 2023-08-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Gen Z outpaces all other age groups in active stock trading, according to a Bankrate survey. However, a Bankrate analyst says they should become more passive investors. Gen Z investors aren't just bailing out of the market either. The same survey notes that Gen Z investors aren't just bailing out of the market. Over half, or 53%, of Gen Z investors said they expect to invest in stock-related investments in 2023, compared to just 19% of Gen X investors and 9% of baby boomer investors.

Persons: Z, Gen, Gen Z, James Royal, — Organizations: Service, CFA Institute, Financial Industry, Authority Investor Education Foundation Locations: Wall, Silicon, Canada

Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.

Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai

☆ Crypto is Gen Z’s most common investment. That may be risky, experts said
▼ + stars: | 2023-06-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

But while young people can afford to take more investment risk relative to older generations, using crypto as the linchpin of an investment portfolio is nonetheless a risky bet due to its volatility, experts said. Crypto zeal a concern if investors don't diversifyFifty-five percent of adult Gen Z investors currently invest in crypto, according to the joint Finra-CFA Institute report. Gen Z is a cohort born in the late 1990s and into the 21st century, meaning its oldest members are in their mid-20s. The joint Finra-CFA Institute report doesn't specify the average share of Gen Z investors' portfolios allocated to cryptocurrency. Gen Z investors in the U.S. view themselves as risk-takers.

Persons: Gen, Coinbase, Binance, Crypto, —, Gerri Walsh, Walsh, Ted Jenkin, cryptocurrency, They've, Jenkin, bitcoin, It's, There's, they've Organizations: CFA Institute, Financial Industry, Investor Education, Securities and Exchange Commission, SEC, Finance, Finra Investor Education Foundation, Meta, cryptocurrency Locations: Atlanta, cryptocurrency, U.S

☆ Over 40% of Gen Z are investing because they're driven by FOMO, survey finds
▼ + stars: | 2023-06-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Over 40% of Gen Z are investing because they're driven by FOMO, a new survey shows. In trying to meet financial goals, over 80% of American Gen Z started investing before the age of 21. That climbs to 60% of Gen Z in China who started investing because of FOMO. Over 80% of Gen Zers in the US and UK began investing before the age of 21 as well as 79% of Canadians and 63% of Chinese Gen Z investors. Only 7% of Gen Z in China started investing before they were 18 years old.

Persons: Z, —, Zers, Gen Xers, Gen, Gen Z, Gen Zers Organizations: Service, CFA Institute, Financial Industry, Authority Investor Education Foundation, Deloitte Locations: Canada, China

☆ 31% of new crypto buyers influenced by friends. Here’s why that can be 'a horrible idea,' advisor says
▼ + stars: | 2023-04-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

"I don't imagine friends are talking about when they lost money," said Lee Baker, a certified financial planner and founder of Apex Financial Services in Atlanta. "The sexy sells," added Baker, a member of CNBC's Advisor Council. On one hand, crypto can be an on-ramp to more traditional investing — which is generally a good outcome, Mottola said. There's some evidence of this happening: 36% of new crypto investors said their purchase made them more interested in investing in the stock market, the study found. However, "the friends recommending [crypto], the sources of information on social media, may not be reliable," Mottola said.

☆ Investing isn't free. But here's why 20% of investors think it is
▼ + stars: | 2023-03-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Investment fees may be a worthy addition to that list in the modern era — though not all investors are aware of this near-universal fact. These firms — whether an investment fund or financial advisor, for example — generally levy investment fees of some kind. watch now"And that makes you much less sensitive to the fees you're paying — in amount and whether you're paying fees at all." Here's the good news for many investors: Even if you haven't been paying attention to fees, they've likely declined over time. This is largely due to investors' preferences for low-cost funds, particularly so-called index funds, Morningstar said.

[1/2] A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File PhotoBERLIN/LONDON, Jan 27 (Reuters) - German web hosting firm IONOS is targeting a market capitalisation of up to 3.15 billion euros ($3.42 billion) in Europe's first major initial public offering (IPO) since sports car maker Porsche last September. Subject to regulatory approval of the IPO prospectus, the offer is expected to run from Jan. 30 to Feb. 7. IPO investors are typically offered a discount to a peer group in compensation for the risk of buying a new stock. Montabaur-based IONOS offers web hosting services and cloud applications to consumers and SMEs in countries including the United States, Germany, Britain, France, Spain and Poland.

It said 80% of its close to $8 trillion in assets are in its index funds, which primarily attract retail investors. Vanguard's biggest competitors, BlackRock Inc (BLK.N) and State Street Corp's (STT.N) asset-management arm, rely more on institutional investors including pension funds and foundations. Many retail investors are also interested in matters like climate change, but prioritize them less in building retirement portfolios, said Rosenbluth and other industry analysts. A FINRA Investor Education Foundation study of retail investors last March found only 9% of respondents held ESG investments. A big factor behind this gap is retail investors' lack of familiarity or knowledge about ESG products, the study found.

☆ 21% of investors don't think they pay investing-related fees. Here's why they're wrong — and how it costs them
▼ + stars: | 2022-12-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Damircudic | E+ | Getty ImagesMore than a fifth of investors don't think they pay any fees for their investment accounts, an industry survey has found. An additional 17% of investors in the recent poll said they didn't know how much they paid in fees. These firms — whether an investment fund or financial advisor, for example — generally levy investment fees of some kind. Here's the good news for many investors: Even if you haven't been paying attention to fees, they've likely declined over time. This is largely due to investors' preferences for low-cost funds, particularly so-called index funds, Morningstar said.

☆ Investing in Space: A launch guide
▼ + stars: | 2022-11-25 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Earlier this year, Astra set out to launch a mission with its now-discontinued Rocket 3.3 vehicle. While that rocket would launch three days later (and suffer a mid-flight failure for a separate reason), that February abort sent Astra's stock down 13%. Stage: The sections of the rocket, typically identified as first or lower, second or upper, and so on. Scrub: Postponing a countdown and no longer attempting to launch at the previously set time.

SoFi pitches itself as a digital financial services company with 3.9 million members as of Q1 2022. Heightened financial and risk controls mean that SoFi's crypto activities "pose significant risks to both individual investors and safety and soundness," the lawmakers said. Investor education material from SoFi warns that a cryptocurrency offered on SoFi's crypto platform, Dogecoin, has "no special use case or features." The letters to regulators and SoFi come as crypto markets weather their worst crisis yet. Lawmakers have demanded an explanation from SoFi on its risk management, credit, financial and compliance systems by Dec. 8.

☆ Cathie Wood's Innovation ETF draws $1 billion despite a 60% loss. Here's why investors are standing by her
▼ + stars: | 2022-11-11 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

Rather, Cathie Wood's loyal investors have been doubling down on her disruptive strategy this year. Wood's flagship Ark Innovation ETF (ARKK) has reeled in $1.3 billion in new money year to date despite a 60% loss, and that is among the top 3% of all exchange-traded funds in the U.S., according to FactSet. Because of the slight weighting, they could afford to be more loyal and patient despite the drastic drawdown. The Innovation fund is focused on advanced technology companies in areas such as genomics, robotics, internet and fintech. She has been buying the dip in her favorite growth names all year, and so have many of her investors.

☆ Crypto is a 'significantly non-compliant' market and investors need better protections as FTX faces collapse, SEC chief Gary Gensler says
▼ + stars: | 2022-11-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

There must be stronger protections in place for investors in the crypto market, SEC Chair Gary Gensler said Thursday on CNBC. He appeared as crypto exchange FTX was on the verge of collapse in facing a potential shortfall of up to $8 billion. The crypto industry is "significantly non-compliant," but regulations "are often very clear," said Gensler. He appeared as contagion fears have been running high in the cryptocurrency market as investors watched FTX — the third-largest crypto exchange — veer toward collapse. And if we need, going to be the cop on the beat, going into court, putting the facts and the law in front of judges."

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