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[ October 24, 2014 | Author: Admin | Views: 20635 | Weather: | Mood: normal]

I recently sat down with Nobel Prize-winning economist Joseph Stiglitz to talk about economic growth. Stiglitz has done a lot of work on the distribution of wealth throughout economies, and how it impacts growth over time. In this video, he talks about some of the changes to the economy after World War II and how they affected growth. Transcript follows. Joseph Stiglitz: The period after World War II was a period in which we grew together, inequality came down, and it was a period in which the economy grew faster than in, say, the period after 1980, where we grew apart and we grew more slowly. The important lesson of that, which is that you can grow faster, I think, with a more equal society that actually is part of the price of inequality that we pay. What do we do? I think there were a number of things that … Continue reading

[ October 24, 2014 | Author: Admin | Views: 18473 | Weather: | Mood: normal]

Market volatility is advisors’ No. 1 concern, according to a pair of recent surveys. Russell Investments found in its second-quarter Financial Professional Outlook that market volatility was the most common topic initiated by clients, cited by 54% of advisors. The Q2 Advisor Investment Pulse survey from Fidelity Financial Advisor Solutions also found market volatility is top-of-mind for advisors, with the majority citing that as the biggest investment topic on their minds. However, with the VIX down 8.5% this year, according to Bloomberg, Kevin Hoffberg, managing director of marketing for Russell’s private client services and author of Russell’s report, questioned why investors are so concerned. “It’s hard to know for certain why investors seem fixated on volatility,” Hoffberg wrote in the report. “Obviously the markets have had quite a run over the last few years and there is plenty of chatter in the press about a pullback. Yet the market’s low … Continue reading

[ October 24, 2014 | Author: Admin | Views: 12568 | Weather: | Mood: normal]

Specialty chemicals producerWestlake Chemical (NYSE: WLK  ) has acquiredthe PVC pipe, fittings, profiles, and foundation business of CertainTeed now thatall the closing conditions, including a regulatory review, have been met. Earlier this year Westlake agreed to pay $175 million in cash, including $22 million of working capital and closing adjustments, to buy the pipe and foundation group business ofCertainTeed, a subsidiary of French building materials specialistCompagnie de Saint-Gobain. The purchase was seen asenhancing Westlake’s North American pipe and building products division, which does business as North American Pipe Corp.,by adding specialty product lines, and supporting technology that it didn’t currently possess. Wetlake Chemical President and CEOAlbert Chao said: This acquisition enhances our North American Pipe and building products portfolio by adding specialty product lines and supporting technology that we do not currently have. These new products, technologies, and a broader market reach will increase our ability to service our customers’ needs … Continue reading

[ October 24, 2014 | Author: Admin | Views: 44531 | Weather: | Mood: normal]

The price of crude oil in the U.S. has dropped nearly 9% during the past month of trading, and Credit Suisse believes it’s time to take another look at the refiners, including Tesoro (TSO) and Calumet Specialty Products (CLMT). Bloomberg News Analyst Edward Westlake and team explain what they see happening: The pullback in crude prices, notably WTI will reduce losses on secondary products (asphalt, LPG). Backwardation has turned into a slight contango, another 4Q positive. The smaller refineries are more sensitive to crude price gyrations than large complex Gulf refiners something to keep an eye on. Narrower spreads between Cushing and the Gulf have made the Gulf refiners more competitive on the main product pipelines inland. Westlake particularly likes Tesoro: TSO looks like a clear winner from here. The stock is the cheapest when logistics dropdown value is taken into consideration. Their Northern Mid-Con and Pacific North-West are among … Continue reading

[ October 24, 2014 | Author: Admin | Views: 21368 | Weather: | Mood: normal]

The price of crude oil in the U.S. has dropped nearly 9% during the past month of trading, and Credit Suisse believes it’s time to take another look at the refiners, including Tesoro (TSO) and Calumet Specialty Products (CLMT). Bloomberg News Analyst Edward Westlake and team explain what they see happening: The pullback in crude prices, notably WTI will reduce losses on secondary products (asphalt, LPG). Backwardation has turned into a slight contango, another 4Q positive. The smaller refineries are more sensitive to crude price gyrations than large complex Gulf refiners something to keep an eye on. Narrower spreads between Cushing and the Gulf have made the Gulf refiners more competitive on the main product pipelines inland. Westlake particularly likes Tesoro: TSO looks like a clear winner from here. The stock is the cheapest when logistics dropdown value is taken into consideration. Their Northern Mid-Con and Pacific North-West are among … Continue reading