As the number of jobs created by the U.S. economy blew away
Wall Street expectations, one of the most notable aspects of the report was the
strong rebound in the construction industry. Last month over 60,000 jobs
were created and the sector has added 185,000 jobs over the past four months.
The rebound in construction bodes well for the U.S. economy as the housing
market is a key pillar in the strength of the overall economy. On the
other hand, the billionaires in Silicon Valley actually subtracted from
employment gains, with a net loss of 12,000 jobs in the “Information” category.
Womack Weekly Commentary September 18, 2017 The Markets “In theory, there is no difference between theory and practice, in practice there is.” Yogi Berra was talking about baseball, but the concept also applies to diversification, according to the GMO White Paper, The S&P 500: Just Say No . From the title, you might think the authors – Matt Kadnar and James Montier – don’t like U.S. stocks. They do: “Being a U.S. equity investor over the past several years has felt glorious. The S&P 500 has trounced the competition provided by other major developed and emerging equity markets. Over the last 7 years, the S&P is up 173 percent (15 percent annualized in nominal terms) versus MSCI EAFE (in USD terms), which is up 71 percent (8 percent annualized), and poor MSCI Emerging, which is up only 30 percent (4 percent annualized). Every dollar invested in the S&P has compounded into $2.72 versus MSCI EAFE’s $1.70 and MSCI Emerging’s $1.30.” The au...
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