The
latest government Non-Farms Payroll jobs report showed that the unemployment
rate among African-Americans has dropped to a record low of just 5.9% in
May. As the following graphic shows, the
jobless rate for African-Americans has been steadily declining since 2011. Among African-American teenagers, the
unemployment rate has fallen from a high of 48.9% in 2010 to just 19.8%. President Trump was widely mocked during the
presidential campaign for encouraging blacks to vote for him because “what have
you got to lose?” But no two ways about
it, when it comes to jobs, things are turning out much better for
African-Americans under Trump than most anyone would have guessed.
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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