Stocks have reached an all-time high. Should you sell now? Christine Idzelis reveals what’s behind the adage of ‘Sell in May and go away’ and whether investors should follow it. President Biden plans to raise taxes on the wealthy in 4 different ways. Greg Iacurci of CNBC explains what the richest taxpayers can expect. “Bitcoin is an ecological and monetary disaster. And it’s worthless.” That’s according to James Rasteh of Coast Capital, who details the flaws of the cryptocurrency.
U.S. Stocks Have Risen To All-Time Highs This Year. Should You ‘Sell In May And Go Away’? — As some stocks perform better in the first six months of the year, this adage is motivating many investors to follow it. But it’s better advice in Europe than the U.S., where stocks have performed better May-October 80% of the time in the last 10 years. Read more…
Biden Wants To Raise $1.5 Trillion By Taxing The Rich. Here’s How — President Joe Biden aims to fund expanded education, child care, paid leave and other reforms by collecting more tax revenue from wealthy Americans. The richest 1% of taxpayers, who have an average income of $2.2 million, would shoulder the burden of the tax hike, according to an analysis published by the Institute on Taxation and Economic Policy. Read more…
“Bitcoin Is An Ecological And Monetary Disaster And It Happens To Be Worth Zero” — So says James Rasteh of Coast Capital. He says that Bitcoin, as the prototype of cryptocurrencies, contains many technical flaws and shortcomings which guarantee that it will not be the preferred digital store of value going forward. He lists the reasons why he believes it will prove to be worthless. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller
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