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☆ Third quarter is a key time for extreme weather events. Here's what to expect for exposed stocks
▼ + stars: | 2023-07-04 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

The third quarter is a key time for extreme weather events. An El Niño weather pattern is widely expected for 2023. "Following three years of La Niña, climate scientists expect 2023 to have El Niño conditions with near-100% certainty given current signals," Karp said in a note to clients last month. Insurers are also among the stocks to typically move in relation to extreme weather events. This year should be a fairly typical one for hurricanes, as El Niño is typically linked to a less severe season.

Persons: Nature, —, Sophie Karp, La, Karp, El, bode, Morgan Stanley, Andrei Stadnik, Stadnik, Matthew Carletti doesn't, hasn't, Jefferies, Yaron Kinar, Brown, Arthur J, Gallagher, Aon, Niño, Generac, Aaron Jagdfeld, Bob Huang, bullish, — CNBC's Michael Bloom Organizations: National Oceanic, Atmospheric Administration, Energy, DTE Energy, WEC Energy, CNBC Pro's, WEC, Xcel Energy, Portland General Electric, Edison International, CenterPoint, Southern Company, Duke Energy, Nextera Energy, El, Insurance Australia Group, Suncorp, Arch Capital, Everest Re, Bloomberg, Arch Locations: El, Canada, U.S, Gulf, Pacific Northwest, California, Michigan, Avista, Portland, American, Mexico, CenterPoint Energy, Bermuda, Texas

☆ While investors can't expect a deal like former baseball star Bobby Bonilla, they can use an annuity to create a stream of income in retirement
▼ + stars: | 2023-07-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Infielder Bobby Bonilla of the MLB's New York Mets at a game against the Los Angeles Dodgers at Dodger Stadium, July 25, 1993. Stephen Dunn | Getty Images Sport | Getty ImagesFormer Major League Baseball player Bobby Bonilla collects a $1,193,248.20 check from the New York Mets every July 1, and he'll continue to do so until 2035. In fact, ever since, July 1 has been known as Bobby Bonilla Day. Annuities provide a guaranteed stream of incomeAn annuity is a lump sum of money, often taken out of a retirement plan, which is converted into a future stream of income, or annuitized. The allure for investors is a guaranteed stream of income, much similar to Social Security or pensions.

Persons: Bobby Bonilla, Stephen Dunn, hasn't, Bonilla, they've, Louis Barajas, Limra, Barajas Organizations: New York Mets, Los Angeles Dodgers, Dodger, Getty, Major League Baseball, Mets, International Private Wealth, CNBC's, Finance, Social Security, ., Barajas, American Council of Locations: Irvine , California, Barajas

☆ Lurking Beneath Home Prices: Hidden Costs
▼ + stars: | 2023-06-29 | by ( Michael Kolomatsky | ) www.nytimes.com time to read: +1 min

With the focus on rapidly rising prices, it’s easy to forget the “hidden” costs of homeownership, including property taxes, homeowner’s insurance, utility payments and maintenance. Among those metros (where sufficient data was available), San Francisco had the highest annual hidden costs (a median of $22,791), while Las Vegas had the lowest ($9,886). Overall, maintenance was found to require the greatest median outlay ($6,413 a year), followed by utilities ($3,216), property taxes ($2,827) and homeowner’s insurance ($1,699). Insurance costs were calculated at 0.5 percent of value. Utility costs were derived from 2022 state averages, while phone bills and streaming-service costs were sourced from Forbes reporting.

Persons: Zillow, Thumbtack, grout Organizations: Las, Insurance, Forbes Locations: U.S, San Francisco, Las Vegas, New York City, Pittsburgh

☆ 12 of the highest-paying jobs in finance
▼ + stars: | 2023-06-29 | by ( ) www.businessinsider.com time to read: +13 min

Getty Images/Peter DazeleyThe finance industry has many high-paying jobs such as chief financial officer, and investment banker. The finance industry is brimming with high-paying, excellent jobs, whether you want to become an accountant, financial analyst or something else entirely. Financial risk managerFinancial risk managers have very important jobs: they help companies and investors understand different levels of financial risk. As high-earning financial professionals, their financial modeling and financial reports are invaluable to the finance sector at large. Most finance professionals in this position have years of experience.

Persons: Peter Dazeley, CPAs Organizations: Getty, Morning, U.S . Bureau of Labor Statistics . Investment, Investment, Financial

☆ Pickleball is bad news for health insurance stocks, UBS says
▼ + stars: | 2023-06-26 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

A sport that is making many older Americans more active could be backfiring for health insurance companies, according to UBS. Pickleball is a tennis-adjacent sport that has exploded in popularity since the Covid-19 pandemic, attracting millions of new players and celebrity investors . "After analyzing the growth in pickleball as well as the nature and frequency of related injuries, we conducted a bottom-up analysis of medical costs. In total, we estimate $250-500 mn of medical costs directly attributable to pickleball and see potential for greater medical costs indirectly linked to pickleball," the note said. All said, we estimate that pickleball medical costs could be driving 5-10% of the unexpected medical cost trend this year," the note said.

Persons: Andrew Mok, Goldman Sachs, Mok, UNH, — CNBC's Michael Bloom Organizations: UBS, Pickleball, Insurance, Medicare Locations: pickleball, UnitedHealth, Friday's

New York CNN —Homeowners insurance is becoming more expensive and, in many places, more difficult to find. The companies also blame limits placed on insurance premiums in some states, including California. Insurance premiums nationwide aren’t up significantly – only 1.6% in the last 12 months according to the Consumer Price Index, the government’s main inflation measure. For instance, in Louisiana, 17% of homeowners insurance policyholders had their policies canceled last year, according to an annual report from Louisiana State University. Meanwhile, more than two-thirds of policyholders said homeowners and flood insurance are more expensive in Louisiana than other states.

Persons: Ian, ”, Matthew Carletti, “ They’ve, it’s, ” Carletti, Dave Jones, ” Jones, policyholders, Carletti, Frank Frievalt’s, ” Frievalt, “ Organizations: New, New York CNN — Homeowners, Farm, Allstate, JMP Securities, Consumer, State Farm, State, Louisiana State University, Citizens Property Insurance, UN Locations: New York, Florida, California, California , Florida, Louisiana, Nevada, , California

☆ Longevity pioneer Peter Attia explains why the quest to live longer is constrained by the US healthcare system
▼ + stars: | 2023-06-19 | by ( Blake Dodge | ) www.businessinsider.com time to read: +6 min

The ultra-wealthy are betting on tech and science breakthroughs to live longer. Longevity expert Dr. Peter Attia explained why preventative care like that still isn't widespread. The ultra wealthy have been shelling out to live longer for some time. In his view, there's a key obstacle standing in the way of your long-term health, ironically: the U.S. healthcare system. Attia's definition of longevity is a function of lifespan, the number of years you live, and healthspan, how well you can live them.

Persons: Peter Attia, There's, podcaster Rich, Attia, Rich —, Bryan Johnson's, Jeff Bezos, Peter Thiel, OpenAI's Sam Altman, we'll, it's, Rich Roll, Stefanie Keenan, Roll Organizations: Morning, Aetna, Tech, IWC Schaffhausen, behemoth Locations: U.S, Los Angeles, Canada

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). As someone who only has one personal credit card, I was nervous about applying for a new credit card and wanted to make sure it was something I really needed. After seeing how complicated I was making my finances and bookkeeping by charging business items to my personal credit card, I decided it was time to get a business credit card and opened up the Capital One Spark Miles for Business. But in addition to being able to use credit card rewards for free travel, my business card also helped me save money over the years in other ways. Over the years, I've found myself using several different insurance coverages that come with my business credit card.

Persons: —, I've, That's Organizations: Service, Business, Chevron, Capital, FedEx

☆ For Wall Street's newest interns, it's important to keep things in perspective no matter how things end up
▼ + stars: | 2023-06-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Let's take a step backFor Wall Street interns, this week marks the start of their professional lives. So to the Wall Street interns who don't get a return offer in a few months, don't worry, you will too. Read more about Jefferies' Richard Handler explaining how Wall Street interns need to keep perspective. Check out all 15 pieces of advice Handler has for Wall Street interns. We asked our rising stars of Wall Street for some book recommendations.

Persons: Dan DeFrancesco, we've, I've, Richard Handler Jefferies, Richard Handler, Jefferies, Handler, It's, That'd, Guess, Tiffany Haley, Binance, Insider's Navah Maynard, Brandon Snower, Jeffrey Cane, Jack Sommers Organizations: Costco, Jefferies, Wall, Twitter, ESPN, Wall Street, SEC, Vanguard, Nike, LinkedIn Locations: New York, London

☆ Florida’s homeowner insurance rates are four times the national average. That’s not getting better anytime soon
▼ + stars: | 2023-06-01 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

But no matter how many storms hit Florida this year, the state’s residents are already struggling as they try to get homeowners’ insurance. But in Florida, State Farm has about 7% of the market, according to the Insurance Information Institute, an industry trade group. Just more than half of insurers based in Florida are on the state insurance regulator’s watch list due to their financial health. Homeowners in the state pay private insurers about $6,000 a year, compared to a national average of $1,700. But wind damage to homes and roofs are covered under homeowners’ insurance policies.

Persons: ”, Mark Friedlander, hasn’t, Friedlander, It’s, Hurricane Ian, Harvey, “ We’ve, shortchanging policyholders, Stephen Cain, “, Matthew Carletti, “ They’ve, ” Carletti, There’s Organizations: New, New York CNN — Hurricane, State, Insurance Information Institute, Homeowners, Atlantic, National Oceanic, Atmospheric Administration, Hurricane, NOAA, National Flood Insurance, Insurance, Property Insurance Corp, Citizens Property Insurance Corp, Citizens, Dade, JMP Securities Locations: New York, Florida, South Florida, Miami, Broward, Monroe County, South, Atlantic Coast

☆ 39-year-old 'frugal' self-made millionaire: 5 things I refuse to spend my money and time on
▼ + stars: | 2023-05-31 | by ( Jonathan Sanchez | ) www.cnbc.com time to read: +2 min

But living frugally isn't just about spending less or buying cheap things; it's about being more intentional and not wasteful. Here are five things I refuse to spend my money and time on:1. So I prefer buying a used car that is a couple of years old and has less than 100,000 miles. If I'm attending a formal event, I'll wear a suit and tie. I'd rather own things that can survive multiple uses than constantly replace them because they were poorly made.

Persons: Jonathan Sanchez, —, I'm, I'd

☆ A 'Big Short' investor who called the 2008 housing-market collapse warns about another big threat to home prices
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

"Big Short" investor Dave Burt said people don't see how the climate crisis will hurt home values. He told CNBC that that mortgage lenders aren't taking into account climate risk, like flooding. He warned that the housing market is in for a 2008-level price correction if the pattern continues. "Ultimately, until people have good information about what these climate-related costs are going to look like, we're creating new problems every day," Burt told CNBC. If this does not change, he warned, the housing market is in for another crash: a 2008-level price correction.

Climate change drove heat in the city to a record-breaking 48C (118F) in 2016. While traditional insurance can take months to pay, with so-called "parametric" insurance there is no need to prove losses. At annual climate talks in Egypt last year, nonprofits urged richer nations to help finance parametric insurance as a way of compensating victims of worsening weather extremes. At the moment, insurance schemes in the developing world are largely subsidized by nonprofit groups, national governments, or wealthy countries. Insurance payouts allow them to buy things like gloves to protect their hands from scorching hot metal tools, or fans to stay cool and avoid heat exhaustion.

FreeKick is a credit-builder product that can help parents build credit for their children ages 14-25. Depending on the size of the deposit, a FreeKick account will cost $0 - $99 annually. Traditionally, the easiest way for parents to help their children build credit is by adding them as an authorized user on a credit card. Austin Capital Bank, a savings bank out of Austin, Texas, is launching FreeKick Credit Builder, a new credit-building product that allows parents to help their children build credit without risking their own credit. No credit check Check mark icon A check mark.

☆ Berkshire Hathaway's operating earnings increase 12% in the first quarter, cash hoard tops $130 billion
▼ + stars: | 2023-05-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Earnings for Warren Buffett's Berkshire Hathaway jumped in the first quarter, thanks in part to a rebound in the conglomerate's insurance business. Operating earnings, which encompass profits from the conglomerate's fully-owned businesses, totaled $8.065 billion in the first quarter. Profit from insurance underwriting came in at $911 million, up sharply from $167 million a year prior. The auto insurer suffered a $1.9 billion pretax underwriting loss last year as it lost market share to competitor Progressive. Berkshire's cash hoard swelled to $130.616 billion from $128 billion in the fourth quarter of 2022.

☆ Single-family rentals were stars of real estate during the pandemic. Now the sector faces its biggest challenges yet.
▼ + stars: | 2023-04-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

The SFR sector is facing fresh challenges this year, however, two KBRA analysts said. If you were an institutional investor looking to invest in real estate during the height of the pandemic, single-family rental properties were probably on your list. Home prices were rising quickly, and borrowing costs were low, underpinning the fundamentals of residential real estate. What's more, real estate research and investment-banking firm Zelman & Associates has estimated there's $110 billion in investor capital waiting to be spent on homes. Labor and supply costs have risen consistently, and massive home price appreciation is resulting in higher real estate taxes.

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☆ Office Building Owners Snubbed by Life Insurance Lenders
▼ + stars: | 2023-04-18 | by ( Leslie Scism | Peter Grant | ) www.wsj.com time to read: 1 min

Many insurance firms have become skittish about rising vacancy rates and falling rents in the office market. Life insurance companies, until recently a reliable source of capital for commercial property developers, are turning their backs on office building owners as tens of billions of dollars in office loans come due this year. Many of these insurers have slowed or stopped making office loans, executives and analysts say, interrupting the sector’s decadelong expansion into commercial property lending. Insurance firms have become skittish about rising vacancy rates and falling rents, reflecting the growing popularity of remote work and return-to-office rates that are still around half the levels workplaces enjoyed prepandemic.

☆ Why Brokerage Accounts Are So Generous Right Now
▼ + stars: | 2023-04-06 | by ( Imani Moise | ) www.wsj.com time to read: 1 min

Photo: Go Nakamura for The Wall Street JournalFidelity Investments said customers can have up to $5 million of cash covered by Federal Deposit Insurance Corp. insurance. Some brokerages are beating traditional banks on returns and account protection, just as lots of people are wondering about the best place to keep their money. Robo adviser Betterment LLC has doubled the amount of Federal Deposit Insurance Corp. coverage it offers to customers to $2 million and rival Wealthfront also upped its coverage by $1 million to $3 million. Robinhood Markets Inc. said it could provide customers with up to $1.5 million in insured deposits. They are all also offering returns of at least 4% on certain accounts.

☆ Goldman Sachs loves these stocks, but the rest of Wall Street hates them
▼ + stars: | 2023-04-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Finding opportunities in this tricky stock market is no easy task, and Goldman Sachs thinks it might be worth looking at these unloved gems with great potential. The Wall Street bank identified a slew of stocks where its analysts are bullish but most of the Street gave either a neutral or sell rating. These stocks with buy ratings from Goldman analysts have at least 10% upside, based on their price target, and the firm's earnings estimates for these companies are at least 2% above consensus. "These names appear underappreciated by the market and could generate alpha for investors with a contrarian view," Goldman said. Ride sharing giant Lyft is also widely hated by Wall Street, except for Goldman.

Dividend stocks may be the way to go for investors as a recession becomes more likely, according to UBS. Dividend stocks on average outperformed the market by 4.5% during the 2001, 2008 and 2020 recessions, the bank said. "Dividend stocks can provide a margin of safety during uncertain times." Given this backdrop, UBS highlighted a slew of dividend stocks with big upsides, based on the bank's price targets. Analysts also forecast three-year dividend growth that's at least in the mid-single digits, in addition to sustainable payout ratios.

☆ Americans desperate for the hot weight-loss drug Ozempic are turning to Canada and Mexico because they can't afford it at home
▼ + stars: | 2023-03-20 | by ( ) www.businessinsider.com time to read: +12 min

She found CanShipMeds.com, one of many websites that says it ships a similar drug, Ozempic, from Canada at a lower cost. Delp is hardly the only American searching for weight-loss drugs across the border in Canada or Mexico. Medicare, the federal program that provides health coverage for people 65 and older, doesn't cover weight-loss drugs at all, though there's a push to change that. People are looking to Canada and Mexico for cheaper OzempicCrystal Cox/Business InsiderUntil insurance coverage improves, people will look abroad to afford the weight-loss drugs. Want to tell us about your experience with weight-loss drugs like Ozempic and Mounjaro?

☆ Auto expert says Tesla's Model Y battery pack has 'zero repairability,' so a minor collision can junk the car
▼ + stars: | 2023-03-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Its Model Y battery pack goes "straight to the grinder" after an accident, he said. "A Tesla structural battery pack is going straight to the grinder," Munro, a manufacturing expert known for his vehicle teardowns, told Reuters. Tesla's approach has been a structural battery pack, which has largely been hailed as revolutionary. Reuters cited experts that said Tesla and other automakers need to prioritize more easily repairable battery packs — and allow others access to battery cell data for repairs. That access to data, especially, has been debated as more EVs hit the roads.

☆ These 3 stocks have gained every year for a decade — and are expected to keep rising
▼ + stars: | 2023-03-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Only three stocks are in the green this year and have had positive returns every year for the past decade, data shows. Insurance company Progressive Corp and aerospace manufacturing company TransDigm Group — both U.S. listed — along with Canadian convenience store operator Alimentation Couche-Tard are the only three stocks in the MSCI World Index to achieve this feat. The Canadian stock is also the largest holding in the only ETF that's posted gains yearly for the past decade . ATD has posted 725% in total returns and 23% CAGR over the past decade. TDG shares have risen by nearly 900% over the past decade in addition to this year, representing 25.4% in total CAGR.

☆ Wall Street’s most overbought stocks include PepsiCo and this little-known insurance company
▼ + stars: | 2023-02-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The data sparked a broad market sell-off, with the S & P 500 losing 1%. .SPX 5D mountain Tough week for stocks Still, investors should consider easing exposure to names that are still overbought. CNBC Pro screened for S & P 500 stocks in overbought territory, using the relative strength index. CNBC Pro also screened for S & P 500 stocks in oversold territory. To be sure, First Republic shares are down 1.2% year to date, lagging SPDR S & P Regional Banking ETF (KRE) — which is up 5% in 2023.

☆ Norfolk Southern CEO apologizes to Ohio townspeople, vows to 'do what's right'
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

Shaw sat down with people from the town of 4,700 people for the CNN event, repeatedly apologizing and saying, "We're going to do what's right for the community." U.S. and Ohio environmental regulators and the company hired experts who say testing shows the water and air are safe. Norfolk Southern reported net profit of $3.27 billion in 2022 when it paid nearly $1.2 billion in dividends to shareholders and bought back $3.1 billion worth of shares. Insurance will help offset those costs, including a liability policy that will cover up to $1.1 billion in certain situations. Stewart said he was planning to sell his house so he could retire but now his property value had plummeted.

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