Daily Reads 5/13/2019
Hi, everyone. Starting off the week of May 13th, we hear the latest observations about the U.S. and China trade relations. We gain insights as to what the abandonment of protection regulations mean for the long-term financial health of individuals. We take a closer look at the leadup to Uber’s IPO, and what this says about the company, and what it means for the next phase of growth. When it comes to advise for college graduates, we find that how we talk about jobs and careers might be setting young professionals up for failure. And check out a compelling study showing the contrast of the composition of wealth between the middle class and top 1%.
Andrew Bishop, global head of policy research at Signum Global Advisors, talks about the U.S.-China trade spat, and how trade negotiations may not require trust between parties, but lack of civility will certainly strain current relations with China.
Last year, the Trump administration abandoned a regulation designed to protect U.S. savers from conflicted investment advice. Known as the fiduciary rule, it would have required more brokers and insurance agents to disclose when they’re getting paid to steer people into certain investments.
In 2010, a group of entrepreneurs and venture capitalists invested about $1.6 million in an unknown startup called UberCab, which aimed to let people hail a luxury black car through a smartphone app.
When you compare job prospects, it’s easy to get caught up in the immediate factors: salary, benefits, location, and signing bonus. Your advisors will tell you to look at these things. But you shouldn’t see a job as your objective. Your goal should be starting a career.
Just as household wealth varies greatly across the population, the composition of that wealth changes as well. Simply put, the person next to you at the grocery store will likely have a much different asset mix than, say, Warren Buffett.