mjgranny

Me and my Granny, Christmas morning circa 1973/1974-ish   Well, 2016 has been one helluva year. Between the celebrity deaths (Bowie, Rickman, Prince in particular), fake news, election chaos, Zika, creepy clowns, Aleppo, and a host of other miserable events, I know I won’t look back on 2016 with anything remotely regarding fondness. In fact,

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imgres

On Monday, the SEC charged New Jersey residents Joseph Taub and Elazar Shmalo for running a fraudulent market manipulation scheme to influence the market prices of over 2,000 exchange-traded securities on exchanges including the NASDAQ, the NYSE, and the NYSE MKT. Between January 2014 and December 2015, Taub and Shmalo engaged in at least 23,000 market manipulation events that gained them north of $26 million in ill-gotten profits. The scheme was little more than quick, coordinated, and repeated pump-and-dumps, each lasting less than five minutes. Taub and Shmalo averaged over 40 of these pump-and-dumps per trading day

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duck

Lethargy, exhaustion, languor, fatigue…all these describe the 2016 effectiveness of both the US government in total and the performance measures of the financial funds that investors look to for future growth. With a Supreme Court deadlocked since January following the death of Justice Antonin Scalia, and a slugfest of a presidential campaign that dominated the US political discourse through November, nothing of import has come out of Congress in months. And while the stock market may be on a tear since the November 9 election result announcement, it does not necessarily translate on a fund basis to more than a mix of so-so growth that leaves investors yawning

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