Welcome to the twilight of the index funds. I think thats the great untold torrey er t story. For years, lots of very smart people told us that index funds were the best, if not the only way to invest. Instead of trying to beat the market, they argue that you should just buy a cheap indecision fund that mirrors the s p 500. But sometimes trying to mirror the market is a bad strategy take the s p 500 you have to own so many havenots along with the haves during this pandemic its changed everything. That at best now, with the coronavirus, youre betting on mediocrity why would you want exposure to troubled Industries Like retail, oil and gas . I know the index fund orthodoxy will never truly be defeated because theres a kernel of truth in it. But man, in this environment, where you cant go out and spend money without fear, even if you just got a 1200 check from the government, youdont have to b a genius to know that the cruise lines are untouchable. But what about the winners, though, what
Delivery of 7 . Look how we are in terms of the major indexes. Asian markets, most in losses tracking to 3 drop on wall street overnight. Opened slightly earlier love earlier. Slightly lower earlier. We are watching petrochina down at this point in time. The hang seng, down about 1 . Kong announced an expansion of its restrictions aimed at curbing the spread of covid19. That would weigh on the economy even more. The sti, down more than 3 . This is a market that returned to bull territory recently and citi said investors are pricing in post recovery. Singapore reports higher cases, more than 1000 for the second day running. I want to dial back to the oil story because we see oil moving to the upside after two days of unprecedented action and a spectacular selloff. Opecplus ministers holding an unscheduled conference to discuss what has been going on. The closing statement signals there are no new measures planned at the moment. Lets bring in mliv asia editor. Oil is on the up. We had tw
Association of American Railroad president on Railroad Freight and passenger travel during coronavirus. President trump is expected to name a commission on reopening the u. S. As the coronavirus abates. Plans are in place to coordinate reopening. Good morning. Welcome to washington journal. Who should take the lead in the reopening of the u. S. Here are the lines. Mountain and pacific, send us the reporting this morning of the wall street the two groups of governors said they would coordinate efforts to gradually sociald as this is andes distancing. President trump said he had authority on restarting the economy. This comes after a decline in daily infection rates, propped officials to express cautious optimism. The same reporting in the Washington Times. Control of the reopening. West coast box trumps claim of ultimate authority. They are crafting plans for reopening schools and businesses in their state, putting them on a collision course with President Trump. He said he had the ulti
T w. How will cope with 19 redefined what the European Union is all about hello everyone for france 24 on false hope to god and paris and im melinda crane for daughter of ella in berlin in the European Union health care has always been handled at the National Level so as the corona pandemic swept the continent it was nation states that were calling the shots even between close e. U. Neighbors borders were closed crucial medical exports were stopped and solidarity was looking pretty illusory but that is now changing with french patients for example being treated in german hospitals yeah and mullins out with a crisis that were 2 months into which shows some are calling the biggest test for this continent since world war 2 a lot of questions Going Forward the french president and michael calling it a moment of truth ahead of thursdays Virtual Summit there are those that are eyeing dick de confined. And then other nations that are doubling down what common response can france and germany o
Gone red as weve gotten more guidance on Net Interest Income on the conference calls. Yeah. Absolutely the banks are in focus as this first day of earning season in earnest really kicks off one of the names im actually focused on that reported this morning is fastenal, distributors, thats what they make and they provide those distributors to quite a variety of industrial excuse me industries and end markets, early indicator of the state of the industrial economy, youre seeing those shares pop today in part because at a time where so Many Companies are cutting their dividends they actually raised their dividend and they noted that theyre seeing product produced significant shifts in business mix and that march sales of the fastener products declined 10 on a daily basis as industrial activity slowed but their safety business grew 31 as they were sourcing and delivering critical ppe supplies to the marketplace why do i bring this up this is essentially what were seeing and i have a feelin