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☆ I missed Beyoncé’s European tour, so I flew 4,600 miles to New Orleans to see her in concert — by myself
▼ + stars: | 2023-10-11 | by ( Lucy Handley | ) www.cnbc.com time to read: +10 min

Afterward, I listened to "Summer Renaissance," Beyoncé's reworking of one of my favorite songs, Donna Summer's 1977 disco hit "I Feel Love," on repeat. Beyoncé's daughter, Blue Ivy, dances, as her mother sings behind her on the London, U.K. leg of the Renaissance World Tour in May 2023. Virgin Hotels New Orleans, where I stayed, is only a half-mile from the Superdome stadium, and was well-prepared to host the many concertgoers who stayed there. Members of Beyoncé's Renaissance World Tour band perform at jazz club Snug Harbor in New Orleans, led by saxophonist Kat Rodriguez (second from right). Caesars Superdome stadium in New Orleans is illuminated by thousands of lights attached to audience members' wristbands during Beyoncé's Renaissance World Tour.

Persons: Beyoncé, Kevin Mazur, WireImage, Alexander McQueen, Roksanda, Roksanda Ilincic, Annie Macmanus, Donna Summer's, Blue Ivy, Beyoncé I've, I've, Redmond —, Honey Dijon, Laveau Contraire, Kat Rodriguez, Lucy Handley, Crystal Torres, Tayler Green, Danny Laurino, John Coletti, Hurricane Katrina, Willa Jean, diamante Organizations: Tottenham Hotspur, Tottenham Hotspur Stadium, Parkwood, London, Caesar's, British Airways, Southbank, Virgin Hotels, Preservation Hall, Bank, Getty, Garden, Uptown, Plantations, New, New Orleans police, Vue Orleans, Caesars Locations: London —, Instagram, London, U.K, British, Amsterdam, New Orleans , Louisiana, YOLO, New Orleans, Orleans, Virgin Hotels New Orleans, Bey, Preservation Hall , New Orleans, Snug, Faubourg Marigny, U.S, Mississippi, Louisiana, Beyoncé's

☆ What are zero-day options? Here's how they're taking over a key corner of the stock market and why they could pose a big risk
▼ + stars: | 2023-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

It's been one year since the CBOE launched zero-day options contracts and they're starting to take over the stock market. Zero-day options expire the same day they are issued and they now make up 50% of S&P 500 options activity. A new ETF has launched utilizing the options contracts, and with enough scale they could jolt the stock market in a big way. AdvertisementAdvertisementThere's a new options trading product that is taking over Wall Street, and it could ultimately pose a big risk for the stock market as it gains in scale. Defiance recently launched two ETFs that write puts via zero-day options on the S&P 500 and Nasdaq 100.

Persons: It's, —, CBOE, JPMorgan, JPMorgan's Marko Kolanovic Organizations: Service, JPMorgan, Nasdaq Locations: YOLO

☆ 'We've reached a new level of narcissism': Long-time bear David Rosenberg explains why a recession is still coming — and names 7 investments that can save investors from the pain
▼ + stars: | 2023-09-23 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Rosenberg continued: "But it's a false debate because the choice isn't between a soft landing and a recession. Consumers are the lifeblood of the US economy, and if they're forced to cut back on spending, Rosenberg thinks growth would quickly turn negative. Investors nervous about the economy should target stocks in four defensive parts of the market, Rosenberg said: consumer staples, healthcare, telecommunications, and utilities. "As growth is scarce, you want to own what's scarce, so you want to own growth stocks," Rosenberg said. "I'm probably much more bullish on growth than I am on value because value is very cyclical, and growth stocks tend to be valued on a longer-term earnings profile."

Persons: David Rosenberg, Rosenberg, we've, Rosenberg isn't, hasn't, nonfarm payrolls, that's, Uncle Sam, " Rosenberg, they're, couldn't, he's, he'd Organizations: Federal Reserve, Rosenberg Research, Technology, Fed Locations: YOLO

☆ Cannabis ETFs are off to a strong September. Will the buzz last?
▼ + stars: | 2023-09-09 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

"We've seen most cannabis ETFs rally over 30% since the news broke last week on this recommendation," Amplify ETFs CEO Christian Magoon told CNBC's Courtney Reagan on "ETF Edge" on Wednesday. The Roundhill Cannabis ETF (WEED) has soared nearly 71% since the announcement, while the AdvisorShares Pure US Cannabis ETF (MSOS ) and AdvisorShares Pure Cannabis ETF (YOLO) have jumped 64% and 45%, respectively. "Consumer packaged goods and pharmaceutical companies are going to be able to now look at these cannabis companies as M&A targets to partner with them." "The great thing about the ETF industry is there's a lot of opportunity," Lydon said in the same interview on Wednesday. Lydon pointed out that Amplify ETFs holds a great "first mover advantage" with its pair of cannabis-based funds.

Persons: Christian Magoon, CNBC's Courtney Reagan, Magoon, marijuana's, Tom Lydon, Lydon Organizations: Cannabis ETF, U.S . Department of Health, Human Services, HHS, DEA, Cannabis, VettaFi Locations: YOLO

☆ It would be a 'miracle' to escape a recession and the erosion of credit is similar to 2008, top economist David Rosenberg warns
▼ + stars: | 2023-09-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The US looks likely to tip into a recession in about six months, according to David Rosenberg. The top economist warned that the deterioration of credit quality is reminiscent of 2008's mortgage crisis. "I think that if we escape this little recession, it'll be a miracle," he told Blockworks' Forward Guidance. "Every penny of the stimulus checks got spent." "We just replaced credit cards with what happened with subprime mortgages 15 years ago," Rosenberg said.

Persons: David Rosenberg, Blockworks, We've, I'm, impact's, there's, Morgan Stanley, Seth Carpenter, we'll, Banks, Rosenberg Organizations: Service, Rosenberg Research, Associates, Federal, Bank of America Locations: Wall, Silicon

☆ 16 Adults on the Virtues and Pleasures of Being Bad - The New York Times
▼ + stars: | 2023-08-25 | by ( ) www.nytimes.com time to read: +14 min

They’re almost enough to make you forget the pleasures of being a little bit bad. We asked 16 writers — most of them respectable adults — about the irresponsible, immoral, indulgent things they do. Years later, we bumped into each other in public, resulting in a humiliating exposition that left everyone questioning my sanity. Can’t stop won’t stop ShopliftingWhenever I’m at the airport, I like to do a little shopping at the Free Store. Yes yes yes.

Persons: —, it’s, I’ve, Kennedy, Dan Cathy, Burger King, Jack, they’re, Chick, I’m, ”, Tell, Wranchers, pant, Henry Hill, Bob Hughes, — let’s, Kelly I, It’s, Saint Augustine, “, It’s icky, Jamieson Webster, Rinee Shah Organizations: Harvard, New York Times Locations: British, New York, “, YOLO, San Francisco

☆ Wall Street is declaring victory too early — the US is still headed for a recession
▼ + stars: | 2023-08-22 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

In theory, these higher interest rates push down demand and slow inflation by forcing companies to cut prices to attract stretched-thin customers. And Americans have been spending right through the higher interest rates: Personal consumption expenditures and retail sales numbers have continued to forge upward. But eventually, this attitude will wane as people realize that the higher rates aren't a flash in the pan. The Treasury yield curve measures the different interest rates that are paid out on various bonds issued by the US government. It's the same story every time, both Kantrowitz and Rosenberg say: Investors are bad at pricing in a recession before it unfolds.

Persons: Michael Kantrowitz, Piper Sandler, Milton Friedman, Bob Doll, Doll, David Rosenberg, Rosenberg, Tom Essaye, Essaye, Granger, Kantrowitz, Jerome Powell, William Edwards Organizations: Philadelphia Fed, Bank of America, JPMorgan, Consumer, Crossmark Global Investments, BlackRock, Silicon Valley Bank, Rosenberg Research, Fed, Auto, Wall, CPI, Institute for Supply Management's, Treasury, Royal Bank of Canada Locations: Silicon, YOLO

☆ The 'richcession' isn't happening. The ultra-wealthy have never been richer and they're still spending like crazy.
▼ + stars: | 2023-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Experts say the richest are actually even richer and spending more than they were before the pandemic. Most Americans now have "spent up" demand for goods, but still have pent up demand for services, Zandi says. In her experience, luxury spending is highly correlated with the stock market, and investors have enjoyed handsome returns so far this year as the S&P 500 rebounds from its 2022 lows. The luxury services sector was a particular hot spot. "If this is a richcession, the rich are probably saying, bring it on," Zandi said.

Persons: they've, Mark Zandi, Zandi, they're, Rather, pricey Taylor Swift, Taylor Swift, Patek Philippe, Claudia D'Arpizio, D'Arpizio, Scott Dunn, Bridget Lackie, Lackie, Jennifer Stillman, Douglas Elliman, we've, Stillman Organizations: Service, Wall Street, Rolex, Bain & Company Locations: YOLO, Wall, Silicon, New York

☆ The responsible investing boom is over. Can anything replace ESG?
▼ + stars: | 2023-07-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Environmental, social and corporate governance, or ESG, investing is on a downward spiral. But in 2022, the pace of inflows quickly eased as a confluence of political, geopolitical and market events severely damaged interest in ESG investing. ESG investing took off and became a buzzword — the “artificial intelligence of six years ago,” said Jenkins. Alphabet reported revenue of $74.6 billion, marking a 7% jump compared to last year and beating Wall Street’s estimates. Banc of California reported a much smaller decline in net income of $2.4 million last quarter.

Persons: ESG, Larry Fink, ”, Robert Jenkins, Jenkins, “, ” Jenkins, he’s, What’s, Clare Duffy, Catherine Thorbecke, Wall, ” Thomas Monteiro, —, Elisabeth Buchwald, Jared Wolff, Wolff, PacWest Organizations: CNN Business, Bell, New York CNN, BlackRock, CNN, Lipper, Pleiades Strategy, Google, Microsoft, Wall, Bancorp, Western Bank, Beverly, Santa, Bank Locations: New York, YOLO, Ukraine, Banc, California, Santa Ana, United States

☆ The US economy is weakening as YOLO spenders pull back from 'fun and games,' economist David Rosenberg says
▼ + stars: | 2023-07-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Consumers that are eager to spend are starting to pull back on "fun and games," economist David Rosenberg said. That spells trouble for the economy, as these so-called YOLO spenders have propped up growth. So-called "fun and games" spending has softened in areas outside of cruise lines and air travel, Rosenberg said, which likely spells trouble for the economy in the coming months. Though GDP grew in the second quarter, real gross domestic income has already fallen into a recession, Rosenberg said, with the measure shrinking over the last two quarters. Markets have been fretting over a potential recession for the past year, as the Fed aggressively hiked interest rates to control inflation.

Persons: David Rosenberg, " Rosenberg, Rosenberg Organizations: Service, CNBC, Fed Locations: Wall, Silicon, YOLO

☆ From Taylor Swift to the World Cup, travelers are paying big bucks to catch overseas games and shows
▼ + stars: | 2023-07-10 | by ( Monica Pitrelli | Evelyn Chen | ) www.cnbc.com time to read: +6 min

When Taylor Swift's Eras tour rolls into Singapore next year, Rjay Ignacio said he'll be there — whether he has a ticket or not. "If I'm not able to get a ticket, I'm still going to Singapore," he said. He said he would only travel "for Taylor … I'm a big fan." Swifties, or Taylor Swift fans, spend an average of $1,330 on tickets, food and travel, according to the research company QuestionPro. To avoid facing an "astronomical price surge," Jakarta resident Wid said one of his friends booked a hotel in Singapore before Swift's tour tickets even went on sale.

Persons: Taylor, Rjay Ignacio, he'll, Taylor Swift, I'm, Ignacio, Taylor …, Farhan Abrol, Kanyarat Teawprasong, Swift, Armando L, Sanchez, Lionel Richie, Harvey Cohen, Wid, Nan Palmero, I'd Organizations: Deloitte, Wimbledon, CNBC Travel, Austin City Limits Music, Chicago Tribune, Tribune, Service, Swift's, Qatar Airways, FIFA, Accor Locations: Singapore, Asia, Pasig City, Philippines, YOLO, Francisco, Bangkok, Korea, Japan, Taiwan, Hong Kong, Thailand, Southeast Asia, Las Vegas, Chicago's Grant, Bahamas, United States, Navan, Cincinnati, Pittsburgh, Jakarta, Doha

☆ Fact Check-California state map shows results of 1984 presidential election
▼ + stars: | 2023-06-13 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A predominantly red map of California shows the 1984 presidential election results, where former U.S. President Ronald Reagan won in a landslide. Online posts are falsely saying it shows results from the 2020 general election. However, it shows results from the 1984 presidential election, where only Alameda, Marin, San Francisco, Santa Cruz, and Yolo counties voted Democrat while the rest of the state voted Republican (here). The California Secretary of State (SoS) shared the 1984 presidential election results in an email to Reuters, where the results match the map being shared online. The map shows presidential election results in California for 1984, not 2020.

Persons: Ronald Reagan, Joe Biden, Read Organizations: Trump, BIG, Republican, Democratic, State, Reuters, California’s Locations: California, Los Angeles, San Diego , Orange County, Alameda, Marin, San Francisco, Santa Cruz, Yolo

☆ Thanks for the memories (and money) index-rebalance strategies
▼ + stars: | 2023-05-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. Index-rebalance strategies, the talk of the town just a few short years ago, are seemingly on their last legs these days. What doomed the index-rebalance strategy is a tale as old as time on Wall Street. Times are tough now, but as Alex notes in his story, not everyone is completely giving up on the strategy. And while we're talking Man Group, here's a rundown on a program meant to help non-tech workers learn data-science skills to help streamline their jobs.

☆ ‘Renfield’ Review: Nicolas Cage Dons the Count’s Cape
▼ + stars: | 2023-04-14 | by ( Amy Nicholson | ) www.wsj.com time to read: +1 min

In an era prone to pop psychology, here lies “Renfield” on the therapist’s couch. Now, Renfield ( Nicholas Hoult ) is a co-dependent in a toxic relationship with a narcissist—that’s his master, Dracula. Not to be outdone, the vampire ( Nicolas Cage ) weaponizes the lingo of martyrdom as sharpened in feuds on “The Real Housewives.” “I’m the real victim here!” he snarls. Renfield joins a support group, brandishes a self-help book like a protective crucifix and, during a makeover montage, swaps his gothic rags for khakis. Do we believe for one second that a mass murderer would frame an inspirational poster that reads “YOLO”?

☆ YouTube Made Emma Chamberlain a Star. Now She’s Leaving it Behind.
▼ + stars: | 2023-02-20 | by ( David Marchese | ) www.nytimes.com time to read: +16 min

Mamadi Doumbouya for The New York Times Talk YouTube Made Emma Chamberlain a Star. When it comes to YouTube videos or videos that are not podcasts, I don’t think I’ll ever be done with that. Has it become harder over time to move the cultural needle with a YouTube video? I don’t focus too heavily on the future for the reason you just explained: We don’t know what is next. I don’t know.

☆ Hiring a marachi band for my husband's first-ever birthday party wasn't in my budget, but I did it anyway — and I've never been more sure of my approach to money
▼ + stars: | 2023-02-10 | by ( Julie Schwietert Collazo | Read More | Read Less | ) www.businessinsider.com time to read: +5 min

I barely had any money, but I wanted to give my husband a nice birthday surprise even if it was hard. It marked another trip around the sun for my husband, Francisco. In fact, I learned after we started dating, he'd never had a birthday party — ever. I realized I needed to ignore the financial adviceMost financial advice consists of a single, sacrosanct maxim: SAVE. "I've never had a birthday party," Francisco told Gerardo and his fellow musicians.

☆ Near-term options market felt like YOLO, meme stock craze, says RBC's Silverman
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNear-term options market felt like YOLO, meme stock craze, says RBC's SilvermanAmy Wu Silverman, RBC Capital Markets head of derivatives strategy, joins 'Squawk Box' to discuss Silverman's views on the trajectory of the economy, what this price action historically means and more.

☆ Luxury eyes focused on China after Richemont's Q3 sales miss
▼ + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Q3 sales rise by 8% but miss market forecastsMainland China sales drop 24%Company says customer demand in China now picking upAll eyes on China for luxury sector, say analystsZURICH, Jan 18 (Reuters) - Cartier jewellery maker Richemont (CFR.S) missed market forecasts during its latest quarter as the resurgence of COVID-19 in China hit sales there, highlighting the country's importance for the luxury sector. Richemont, whose other brands include Swiss watchmakers IWC and Jaeger-LeCoultre, has been seeing strong sales growth in Europe, the Middle East and Japan, particularly for jewellery. But the mainland Chinese market - which accounts for about a fifth of the group's sales, according to Zuercher Kantonalbank estimates - struggled with sales down 24% in constant currency terms. The prospect of a pickup in Chinese sales meant analysts were not too worried by Richemont's quarterly miss. "The catch-up from Chinese consumers will come as strong as sales decelerated in 3Q, as they were able to save money during the lockdowns."

LONDON/ZURICH, Jan 18 (Reuters) - Luxury retailers Richemont (CFR.S) and Burberry (BRBY.L) said they were optimistic that consumers in China would start spending again, helping offset three years of upheaval from the government's strict COVID-19 lockdowns and soaring infections. Richemont (CFR.S), whose brands include Cartier jewellery and Swiss watches IWC and Jaeger-LeCoultre, also said it expected a strong rebound in China. The European luxury sector is among the largest expected winners as China loosens COVID-19 restrictions that kept shoppers out of stores for months. Richemont missed market estimates after sales in China plunged by a quarter, as customer traffic dwindled and staff were not available, leading to a reduction of boutique hours, or temporary closures of sales points, the company said. Mainland China is currently 25% of Burberry sales, down from about 40% pre-pandemic.

☆ Fed up with facial recognition cameras monitoring your every move? Italian fashion may have the answer
▼ + stars: | 2023-01-16 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +7 min

Facial recognition software immediately identifies the man as … a giraffe? While there, she read about how tenants in Brooklyn had fought back against their landlord’s plans to install a facial recognition entry system for their building. “This was the first time I heard about facial recognition,” she says. Whichever route they took, they had to test the images on a well-known object detection system called YOLO, one of the most commonly-used algorithms in facial recognition software. At the recent World Cup in Qatar, creative agency Virtue Worldwide came up with flag-themed face paint for fans seeking to fool the emirate’s legion of facial recognition cameras.

☆ Retail investors have sold all of the stocks they bought during the pandemic trading boom
▼ + stars: | 2023-01-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Retail investors have sold all of the stock they bought during the COVID-19 trading boom, according to Goldman Sachs. "Selling over the past 11 months has completely reversed all the net buying in single stocks from 2019 to 2021," Goldman said. As for what retail investors are still holding on to, it's technology and consumer discretionary names, according to the note. Meanwhile, retail investors were net sellers of healthcare and utility stocks. Goldman noted that while they believe its data is an accurate representation of retail investors that buy single stocks, it doesn't encapsulate retail buy-and-hold investors that are primarily trading ETFs for their allocation to equities.

☆ I splurged my miles to fly Emirates' luxe business class. I ate a multi-course meal, lounged at the in-flight bar, and learned the seat upgrade is worth it.
▼ + stars: | 2023-01-06 | by ( Tonya Russell | ) www.businessinsider.com time to read: +9 min

Writer Tonya Russell traveled to the Maldives and tried out Emirates' business and economy class. "While economy class proved to be just fine, upgrading is worth it at least once," she writes. How to upgrade to business class on an Emirates flightIf you use the same airline family, you may be able to transfer miles from another airline to your Emirates flight. The meat alternative was a chicken TV dinner with rice, which wasn't as appetizing as the salmon that circulated through business class. While economy class proved to be just fine, if upgrading is within your means, it is worth it at least once.

☆ PE wants to see some cash flow before it starts making deals
▼ + stars: | 2022-12-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

As the markets continue to sour, and a recession looms, everyone's wondering when PE firms will begin scooping up assets. High on Bae's wishlist are "all things digital," he said, with one giant caveat: profitability. There are plenty of companies doing fascinating things in the digital space, but many have yet to reach profitability (*cough* fintechs *cough*). Goldman Sachs is going dumpster diving for crypto companies. Chaos in the crypto markets is creating investing and acquisition opportunities for the bank, according to Matthew McDermott, Goldman's head of digital assets.

☆ Gen Z and millennials are driving growth in the luxury-goods market, study shows
▼ + stars: | 2022-11-17 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +3 min

Gen Z and millennials are the largest drivers of the luxury-goods market, per Bain & Co.Gen Zers purchase luxury items three to five years earlier than millennials, the study found. The luxury-goods market is valued at more than a trillion dollars and is expected to withstand a recession. The luxury-goods market is forecast to be "recession-proof" in 2023, in part because of millennial and Gen Z consumers, who accounted for the growth of the market in 2022, the report found. Gen Zers are buying luxury goods earlier than past generations, and Gen Alpha is expected to follow suit. The luxury industry is more "customer-centric" and "multi-touchpoint" meaning there are more ways to access the luxury market, including digital and virtual shopping experiences.

☆ If you're not planning to have kids, you can rethink 'the whole foundation' of your financial plan
▼ + stars: | 2022-10-25 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

"Most, if not all, financial rules of thumb assume you have kids," says Jay Zigmont, a certified financial planner and author of "Portraits of Childfree Wealth." Take the possibility of kids out of the equation, and "the whole foundation of your financial plan changes." If you're still aiming for traditional financial landmarks, such as retiring at 65, you may be following someone else's financial "life script" that doesn't match up with your goals, Zigmont says. Here are three strategies Zigmont, who specializes in advising childfree clients, says childfree people can employ, even though they deviate from the standard advice. And to be clear, just because you're not spending your money on children doesn't mean it's OK to abandon core financial principles altogether.

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