“FOLLOW THE MONEY” AND YOU FIND THE TRUTH:
As Nick Colas of Convergex recently noted:
“Looking at individual tax/withholding receipts (available from the U.S. Treasury) for the month of July, there is a reason for caution on both indicators. July “Withheld” receipts – those tax and withholding payments that come straight from wage earner pay stubs – are down 1.0% year over year.
Also worth noting: YTD non-withheld tax receipts (such as those that come from ‘Gig economy’ workers) are down 6.5%, and July’s comp is 15% lower than a year ago.
Last, corporate tax receipts are down 11% YTD, and if the current pace of these payments holds it will be the first negative comp since 2011. Bottom line: if the tax man isn’t as busy, can the U.S. economy really be expanding?”
August 4, 2016
The growing acceptance of marijuana has been truly astounding…especially to us baby boomers!! Who would have thought ten years ago that numerous Companies would be investing in weed. ABBVIE (which we own in the Core Portfolio) is a major player.
So as investors, how do we make a dime in this space? We have been looking at several Companies with the intent of buying small positions. The charts look terrible for some of the stocks listed below but now may be the time to “head to Vegas” and start tipping our toes in the “medical marijuana” arena. NOTE: these are risky. Invest with small amounts to start.
Here are some Companies you can look at: INSY, CARA, ZYNE, GWPH
WE ARE BUYING A SMALL POSITION IN GWPH. As we write this, the bid is $95.75.
They do not pay dividends and they will probably be purchased eventually by a big pharma Company. Read the following article for more info:
“Trust in the news media is being eroded by perceptions of inaccuracy and bias, fueled in part by Americans’ skepticism about what they read on social media,” the AP recently reported. “Just 6% of people say they have a lot of confidence in the media, putting the news industry about equal to Congress and well below the public’s view of other institutions.”