France is Selling Aeroports de Paris, It Needs The Money

France is selling some of its stake in Aeroports de Paris because it needs the money, equal to almost $1 billion. YTD the stock has done pretty well against the iShares France ETF (EWQ) but the article gives the impression that the story on the ground in France still has a long way to go. For years we have steered our foreign exposure away from the euro countries and will probably continue to do...

France is Selling Aeroports de Paris, It Needs The Money

France is selling some of its stake in Aeroports de Paris because it needs the money, equal to almost $1 billion. YTD the stock has done pretty well against the iShares France ETF (EWQ) but the article gives the impression that the story on the ground in France still has a long way to go. For years we have steered our foreign exposure away from the euro countries and will probably continue to do...

Norway’s SWF Lives By The 4% Rule!

In an interesting article about the art scene is Oslo is this little nugget; …Norway’s $745 billion sovereign wealth fund, the so-called Oljefondet. Norway’s 12-year-old sustainability-minded handlingsregelen, or “spending rule,” stipulates that the government can use only 4 percent of that fund in each year’s national budget. We’ve discussed the 4% rule here probably at least 100 times over the years. While no withdrawal strategy is necessarily perfect the math behind it is reasonably...

Norway’s SWF Lives By The 4% Rule!

In an interesting article about the art scene is Oslo is this little nugget; …Norway’s $745 billion sovereign wealth fund, the so-called Oljefondet. Norway’s 12-year-old sustainability-minded handlingsregelen, or “spending rule,” stipulates that the government can use only 4 percent of that fund in each year’s national budget. We’ve discussed the 4% rule here probably at least 100 times over the years. While no withdrawal strategy is necessarily perfect the math behind it is reasonably...

Jason Zweig

Jason Zweig hit it out of the park with yesterday’s column. Included are the following; 1) …good advice rarely changes, while markets change constantly. 2) The advice that sounds the best in the short run is always the most dangerous in the long run. 3) …people who receive frequent news updates on their investments earn lower returns than those who get no news. 4) As the founder of security analysis, Benjamin Graham, wrote in The Intelligent Investor in 1949: “The investor’s chief problem – and even his worst enemy – is likely to be himself.” There’s more, be sure to check it out. Unrelated; the newest fashion trend on display at the NBA draft on Thursday. Pretty...