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...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...And look, American stocks have been great for 10 years. They’re not gonna be as great in relative terms for the next 10 years. The chances of that happening are really low....
...He was in good company. Robert Gordon’s The Rise and Fall of American Growth, which argued that the age of disruptive technology was over, came out around the same time....
...But over the past 10 quarters, net interest expense (that is, interest expense less investment income) among S&P companies has been steady and the recent trend is, if anything, up....
...Galicia will acquire the entire HSBC Argentina business, including banking, asset management and insurance, HSBC said....
...So the tale of the tape, using harmonic means weighted by market cap, is this: The P/E ratio of the S&P 500, using earnings estimates for the next four quarters and excluding four companies with negative...
...K-SURE, the South Korean government export credit agency, has withdrawn insurance needed to underwrite SK E&S’s investment in the Timor Sea project....
...The Russell 2000 index has risen 24 per cent since the beginning of 2020, lagging behind the S&P 500’s more than 60 per cent gain over the same period. Read the full story. 4....
...Apple, on the other hand, was until recently the largest company by market cap (now it’s Microsoft), and it is still almost 6 per cent of the S&P 500....
...But smaller energy companies (EQT, Hess, Targa) have offer a lot of growth at reasonable prices. Another sector where it looks like value might be hiding? Insurance. Some stocks of interest....
...Earlier this year, the UK government announced a crackdown on disposable vapes and flavoured e-cigarettes, which have been blamed for a surge in underage usage....
...As would you earning $17mn a year, the median paid to those atop S&P 500 companies, for example. This is probably not fair to managers of many industrial firms, where safety is front of mind....
...great”....
...Firstly, approximately 30% of the Global and North American totals are made up of ‘dry powder’, i.e. undrawn capital commitments....
...Have a great week, Nathalie ThomasLex writer nathalie.thomas@ft.com...
...“Berkshire has become a great company. Though I have long been in charge of the construction crew, Charlie should forever be credited with being the architect.”...
...Could ESG better account for a company’s climate governance?...
...Deposit insurance had killed the retail run — but was no match for the growth of institutional cash pools ahead of the Global Financial Crisis (GFC)....
...Kaarli Eichhorn, partner at Jones Day, told the FT that “the newly adopted rules on product liability have caused great concerns among the wider business community, including American investors who are familiar...
...The Houthis’ official spokesman, Yahya Sare’e, claimed the attack, calling the True Confidence an “American ship”....
...Many Americans are not so lucky: syphilis cases in the US are at their highest level since 1950....
...But low volatility is great until it’s too good to be true....
...On a forward P/E basis, the S&P 500’s 2021 (harmonic) average was 23, versus an average of 22 in the past four months and 18 in the past three decades....
...So another way to look at it is by looking at the S&P 500 Equal Weight, which treats all 503 companies in the S&P 500 as equal instead of overweighting Apple and Microsoft or whatever....
...It’s great news for M&A in Japan.”...
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