By SIMON CONSTABLE
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By SIMON CONSTABLE
Wall Street isn’t what it used to be. It’s better for investors.
In large part, for that, we can thank the signing of the Securities Exchange Act in June 1934, creating the Securities and Exchange Commission.
“The old Wall Street was kind of corrupt in many ways with a lot of market manipulation,” says Richard Sylla, emeritus professor of economics and financial history at the Stern School of Business.
Significant changes introduced included limits on investing using borrowed money—which had been unfettered during the 1920s in the lead-up to the 1929 market crash that ushered in the Great Depression. The new laws also banned market manipulation.
But perhaps most important was the mandatory registration of all company annual and quarterly reports according to standard accounting rules.
Despite some grumbling over the new rules, things changed for the better. “Wall Street is considered a much fairer place than it was now,” Sylla says. “The world has benefited from the 1930s legislation.”
One of the most intriguing aspects of the law was President Franklin D. Roosevelt’s appointment of Joseph P. Kennedy, patriarch of the Kennedy family, as the first SEC chairman. Read original here.
By SIMON CONSTABLE
Listen here.
By SIMON CONSTABLE
Listen here.
#FRANCE: Commodity prices moderate waiting for the EU Election. Simon Constable, Occitanie
https://www.msn.com/en-gb/news/other/uk-s-labour-says-sunak-lied-about-its-tax-plans-in-election-debate/ar-BB1nFugR_-_51Fi116_-_Fonds_Trutat.jpg)
By SIMON CONSTABLE
The growth in world trade has been nothing short of an economic savior since the end of WWII. As America reigned supreme, international trade grew from a mere 4.2 percent of world GDP in 1945 to 31 percent, reaching that peak first in 2008, and again in 2022 after retreating for a decade or so. This trade growth coincided with what economists expected: Over those many decades, increased trade lifted millions of people out of abject poverty and made some others rich. Unfortunately, those halcyon days seem to be ending—and quickly. Read more here.
By SIMON CONSTABLE
Get ready to put some wheat futures in your portfolio.
The reason is simple: It is a great hedge against geopolitical tumult.
Shawn Hackett, writing the Hackett Money Flow Commodity Report, which focuses on agriculture (Ag) puts it like so:
Read more here.
By SIMON CONSTABLE
How much is your morning coffee going to cost you this year or next?
Likely a lot more than it did recently.
“The coffee market has a set up for all-time highs to be seen over the next crop cycle,” writes Shawn Hackett in the Hackett Money Flow Commodities Report, which focuses on agricultural products. Read more here.
Christopher Michel , CC BY 2.0, via Wikimedia Commons
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