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@theMarket: Markets Need to Digest Recent Gains
By Bill Schmick,
07:50AM / Saturday, July 23, 2016

Greed and fear make the world go round. While Donald Trump attempted to tap into the latter emotion in his acceptance speech this week, investors were mesmerized by the opposite emotion, at least where the stock market is concerned.

It is true that the markets, like the humans that trade them, tend to vacillate between these emotions when gains and losses begin to nudge the extremes. Of course, we would all like the markets to just continue to climb, but a line I read recently sums it up well.

"Keep in mind that betting on never-ending capital gains is the very definition of a Ponzi scheme."

The best thing that could happen to the stock market in the short-term

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The Independent Investor: Candidates & the Economy
By Bill Schmick,
01:29PM / Thursday, July 21, 2016

As the GOP political convention winds down and the Democrat convention gears up, we continue to hear a steady stream of economic "one liners" from the candidates. We all know that fixing the economy is one of the major issues of this campaign but so far the candidates are long on words and short on specifics.

"If I'm elected," promise both candidates, there will be more jobs, trade, wages and growth. According to them, all we need do is check the right boxes come Election Day and the rest will be a foregone conclusion. Historically, Wall Street and corporations vote Republican because the GOP is good for business, while labor, minorities and the "have

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@theMarket: Markets Make Hay
By Bill Schmick,
11:27AM / Saturday, July 16, 2016

A series of new historical highs rewarded investors who remained patient this year and remained invested. Unless something changes in the world of central banking, there is a good chance that further gains are in store for the stock market.

There will be pullbacks from time to time as the markets digest their gains. We have enjoyed several back-to-back gains in the stock market. The S&P 500 Index, for example, has climbed over 100 points without one down day. That is not something that can continue unabated.

The key to all this upside momentum is, of course, the worldwide largesse of governments and central banks. Take, for example, the events in England this week. Although

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The Independent Investor: Tax Breaks For College Savings
By Bill Schmick,
02:21PM / Friday, July 15, 2016

As the cost of college continues to soar in America, more and more states are offering tax breaks to families who are trying to save as much as they can for their kid's educational future.

The state of Massachusetts is deciding whether or not they will join the list this week.

The most commonly used vehicle for that purpose is the "qualified tuition plan," more commonly known as a 529 Plan. These plans are sponsored by states, state agencies or educational institutions and were originally authorized by Section 529 of the Internal Revenue Service Code. They are tax-free on a federal level and all but eight of the 42 states that have an income tax allow families and

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@theMarket: Historical Low-Interest Rates Prop Up Equities
By Bill Schmick,
09:26AM / Sunday, July 10, 2016

There was a time when soaring bond prices and correspondingly lower interest rates were a bad sign for the stock market and the economy. Thanks to worldwide central banks, that correlation no longer exists, or does it?

Current wisdom on Wall Street will tell you that interest rates are at historical lows because investors are hunting for yield. And it just so happens that the U.S. bond market still offers the highest return on your money. That's not hard to understand if you realize that most developed nations' treasury bonds are yielding far less than ours thanks to central bank manipulation.

Gold, on the other hand, continues to rise, racking up a 30 percent gain so

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