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[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  U.S. earnings season is in full swing  Earnings season is off and running. As always, the financials were battling to be the lead-off batter, as we look at the final quarter of 2021. The lineup of fourth-quarter reports includes heavyweights like Goldman Sachs (GS), Proctor & Gamble (PG), Netflix (NFLX) and United Airlines (UAL).  Since last week, the banks offered mixed results. A few banks underwhelmed the markets, while others knocked it out of the park. We had lacklustre results from major U.S. banks, including JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C).  On Tuesday, Goldman Sachs (GS) reported a fourth-quarter profit that missed expectations, sending its shares down as much as 8%. JPMorgan beat profit expectations last Friday, but it saw shares fall 6% on expense concerns.  The markets were not in a good mood coming into this past week, and these mediocre results were not enough to reverse the downward trend for U.S. stock prices. Here’s a one-month chart for the S&P 500:  Source: Seeking Alpha – to January 20  Heading into earnings season, earnings revisions weren’t as strong as pre-announcement periods in 2021.  In week one of earnings season, earnings were mixed. But most companies surprised to the upside—meaning they had unexpected results. The majority of S&P 500 companies that reported earnings did exceed Wall Street estimates, with earnings that were 8.3% above expectations.  This Seeking Alpha post suggests:  “Earnings for S&P 500 companies are expected to rise 22.4% in the fourth quarter, according to data from Refinitiv, which would wrap up a record year where overall earnings soared around 49%. Meanwhile, 26 S&P 500 firms have already reported Q4 results, with 77% of them posting bottom-line results that beat analyst expectations.” Watching Netflix  After the close on Thursday, all eyes were on Netflix (NFLX). It did not deliver the earnings content that market watchers wanted. The company added 8.28 million net subscribers worldwide, below its own expectations for 8.5 million and the Street analysts’ assumptions for 8.32 million. The company now has 221.84 million global paid memberships, and it grew that number 8.9% year-over-year. Revenue grew by 16.1% year-over-year.  Profitability slipped as content creation costs exceeded expectations.  The tough critics are the markets. The stock was down by over 18% in after-hours trading.  Turning over to the much less dramatic Procter & Gamble (PG), the consumer staples company delivered quarterly revenue of $20.95B, up 6.1% year-over-year. That number beat earnings estimates. Diluted earnings per share increased 13%.  PG stated that it was able to pass along its own increased costs to consumers. The consumer staples sector is known as a very good inflation hedge.  The stock jumped over 4% after the company’s earnings release on Wednesday, Jan. 19.  The market continues to rotate away from high-growth stocks, such as Netflix, and move toward the defensive names and value stocks, like PG, which I mention above. “Boring” is in style this week.  The technology sector is now in an official bear market, down by over 12% in 2022. As I reported throughout 2021, tech stocks are and were very expensive, and they are vulnerable when we enter correction mode.  The analysts’ prediction for U.S. stocks in 2022:  Average 2022 forecast for S&P 500 sits at 4982 per ⁦@Bloomberg⁩ survey of Wall Street strategists pic.twitter.com/FEBGgEAgcX — Liz Ann Sonders (@LizAnnSonders) January 20, 2022 That’s a 6.5% return from the S&P 500 levels on Thursday, Jan. 20. That’s a long way from the double-digit returns that we’ve experienced over the last three years.  North of the border  Meanwhile, Canadian markets continue to be on a financial and energy-fuelled roll.  Energy producers were up almost 17% year-to-date, mid-week. Canadian banks are up over 3% year-to-date. Gold and base metals are also coming back into favour.  What would be ideal is if U.S stocks could experience a sizable correction while Canadian stocks hold up or continue to make gains. That would provide a wonderful rebalancing opportunity.  U.S. stocks, and especially large-cap tech, are still best in class longer-term. It would be more than enticing to see them at reasonable valuations.  Hey, a guy can dream…  Will earnings revisions matter more than rate hikes?  In last week’s post, I wrote about the investment battle of 2022. It is the battle of economic and earnings growth versus the Fed, and the risk of a rising-rate environment.  This tweet from Isabelnet suggests earnings revisions might trump the rate hikes in 2022 and beyond. The earnings revisions will measure the sentiment of analysts as they raise or lower their estimates.  S&P 500 Currently, earnings revisions matter more than interest rates for the S&P 500 https://t.co/yIk7SZYp6p h/t @MorganStanley #markets #investing #earnings #EPS#sp500 $spx #spx $spy #stocks #stockmarket #equities pic.twitter.com/tI2M3gQrm9 — ISABELNET (@ISABELNET_SA) January 15, 2022 In 2021, the earnings surprise drove the returns of U.S. stocks. The level of earnings surprise (the level of actual earnings vs analysts’ estimates) was almost a near-match.  Here’s a chart that shows the S&P 500 earnings estimates for total years, including 2022 and 2023.  Earnings Morgan Stanley still expects S&P 500 earnings per share of $227 in 2022 and $245 in 2023 https://t.co/3SVJ18RESn h/t @MorganStanley #markets #investing #earnings #EPS#sp500 $spx #spx $spy #stocks #stockmarket #equities pic.twitter.com/O1vEfyWBBn — ISABELNET (@ISABELNET_SA) January 15, 2022 Those estimates show the potential for continued and generous earnings growth. The estimates call for an average of over 8% earnings growth for 2022 and 2023. If those earnings come to fruition, will that be enough to satisfy investors?  Stocks struggled to hold on to any gains on Thursday. This comment on Seeking Alpha sums up the battle:  “‘Bottom line, given rising rates and Fed hawkishness, markets need earnings to reinforce the resiliency of corporate America,’ Kinsale Trading’s Tom Essaye says. ‘And while earnings results aren’t ‘bad,’ at this point they aren’t good enough to offset rising yield-related anxiety.’” Canada to begin the rate hike cycle next week?  Inflation

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[ad_1] Hit by the third wave of the pandemic that led to massive cancellations of domestic flights and extension of the ban on scheduled international flights till the end of the next month, the airports are set to see a 10-percentage-point fall in their revenue recovery this fiscal to 52 per cent of the pre-pandemic level, according to a report. “Given the massive disruptions to domestic passenger traffic and the extension of the ban on regular international flights, we moderate our revenue recovery estimates for airports to 52 per cent of pre-COVID-19 level as against 62 per cent earlier for the current fiscal,” ICRA said in a note without offering absolute revenue numbers. Domestic passenger traffic is likely to witness a month-on-month de-growth of 40-42 per cent in January and 15-17 per cent in February resulting in a temporary slowdown in the recovery of domestic passenger traffic in the fourth quarter, the agency said. “Overall, passenger traffic is expected to be lower by 40-45 per cent in Q4 FY22, leading to an overall recovery of a moderate 52 per cent of the pre-COVID-19 level as against our earlier estimates of 62 per cent of pre-COVID-19 level,” the agency said. However, it sees a strong rebound compared to the second wave of the pandemic once the situation normalises, as it expects that the easing of restrictions by states, healthy pace of vaccination and a dip in the infection caseloads had resulted in healthy sequential domestic passenger traffic growth during the June-December 2021 period. The domestic passenger traffic reached 22 million in December 2021, which is the highest since the pandemic began in March 2020, and 88 per cent of the pre-pandemic levels in December 2019. From January 1 to January 17, 2022, domestic passenger traffic was lower by 34 per cent compared to December 1-December 17, 2021. This is due to a significant rise in fresh infections, resulting in the fear of travel, imposition of localised restrictions in key states and the consequent slowdown in leisure travel forcing major airlines to reduce capacity deployment. Due to a healthy recovery in passenger traffic after the second wave and a dip in coronavirus infections, the Directorate General of Central Aviation (DGCA) had in November 2021 announced plans to allow resumption of scheduled international flights from December 15, 2021. But, the Omicron variant has forced the regulator to first extend the ban to January 31, and then to February 28, 2022. Once these restrictions are lifted, the recovery of international passenger traffic is expected to happen in a gradual manner and may reach pre-COVID-19 levels only by FY24. [ad_2] Source link

[ad_1] The post Fundrise vs. RealtyMogul – How These Crowdfunding Sites Compare appeared first on Millennial Money. Wondering which real estate crowdfunding platform is best for you? Keep reading as we compare Fundrise and RealtyMogul. Today, real estate investors have a world of opportunities to explore. The market is no longer closed off to everyday investors. You don’t have to be accredited to start raking in profits from commercial space.  One of the newer ways to invest in commercial real estate is by using a real estate crowdfunding platform. Not all investors choose to go this route, and many purchase real estate either directly or through a brokerage firm (e.g., REITs).  That said, a growing number of investors are now using crowdfunding investing platforms because they offer a variety of options, they’re easy to use, and they can help investors generate passive income (e.g., in the form of dividends).  If you’re thinking about pursuing crowdfunding for real estate investment purposes, two leading platforms to consider are Fundrise and RealtyMogul. Let’s explore how these two platforms compare to help you determine which one is the better option for your unique circumstances. Here’s a quick comparison summary: Fundrise RealtyMogul Minimum Investment Low minimum of $500 Minimum $5,000 investment to get started Who Can Invest You do not need to be an accredited investor to invest. Only accredited investors can access standalone properties Customer Service Great customer service Great user experience Security Secure investing Secure platform or, jump straight to our in-depth Fundrise vs. RealtyMogul comparison Fundrise vs. RealtyMogul: An Overview First, here’s a quick Fundrise review.  What is Fundrise? Fundrise is an online investment crowdfunding platform serving more than 100,000 active investors. It’s one of the oldest and most trusted crowdfunding platforms on the market. Fundrise offers crowdfunding opportunities for both accredited and non-accredited investors, so you don’t have to be a high roller to get started on this platform. That said, you can still use this platform if you’re accredited.  Getting started with Fundrise  Here’s a breakdown of how to get started with Fundrise.  1. Download the Fundrise platform or app Head over to Fundrise to create an account. You can also download the Fundrise app through the App Store or Google Play. Registration is simple and only takes a few minutes. You’ll be up and running on the Fundrise platform in no time at all.  Fundrise Fundrise offers crowdsourced real estate investing, most real estate investing platforms are only open to accredited investors, but Fundrise makes it accessible to all investors. Get Started 2. Pick your account level  You’ll need to determine what type of account you want to open when signing up for Fundrise.  Fundrise offers three account levels, including Basic, Core, and Advanced. Browse each category and determine what investment amount you’re comfortable with and how much customization you are looking for. Beginners may have luck with the Basic plan, while more serious investors may want to aim for the advanced option. You can always upgrade your account down the line if you’re looking for a more comprehensive experience. 3. Let Fundrise go to work Once you’re up and running on Fundrise, the platform then selects an investment opportunity for you. The company builds a portfolio of curated real estate investments, meaning you don’t have to go through the process of selecting each one. In other words, Fundrise manages the selection of real estate properties on your behalf. 4. Track your investments in Fundrise  Once you’re up and running in Fundrise, all you have to do is check in from time to time using their investor dashboard and mobile app. The company provides ongoing reporting and alerts so that you can stay informed about how your investments are performing.  What we like about Fundrise  Low minimum of $500 Reasonable management fees 90-day introductory period without advisory fees or redemption penalties User-friendly website and convenient mobile app Secure investing Great customer service Automatic investing  What we don’t like about Fundrise  Illiquid investments Long-term investing only Tax liability due to income tax on earnings  So now let’s move onto a brief RealtyMogul review What is RealtyMogul? RealtyMogul is one of Fundrise’s top competitors. It’s another long-standing crowdfunding provider with a solid reputation. Just like Fundrise, RealtyMogul offers a crowdfunding platform that lets you buy into commercial real estate even if you’re a non accredited investor. Anyone can join RealtyMogul and start vetting real estate deals.  When you use RealtyMogul, you’ll invest in a real estate investment trust (REIT). RealtyMogul offers two of them: MogulREIT I and MogulREIT II.  The company also provides access to standalone properties, as well. Unfortunately, you have to be an accredited investor to access them.  RealtyMogul’s signup process Here’s a breakdown of how to get started with RealtyMogul.  1. Create an account with RealtyMogul  Go to RealtyMogul and create an account. Just as with Fundrise, the process is fast and easy.  RealtyMogul RealtyMogul is a leading real estate crowdfunding platform. It’s one of the longest-running and most widely respected platforms on the market. Start Investing in Real Estate 2. Pick an investment  The next step is to pick an investment. Browse the selection and determine where you want to allocate your money. RealtyMogul tells you what you’re eligible for right on the main dashboard. 3. Invest  The next step is to fund your investment. Determine how much money you want to include and distribute the money from a linked bank account. 4. Manage your real estate investments  Once you’re set up, managing is easy. All you have to do is log into the dashboard and track your investments. The company provides clear visibility for users, making asset management easy.  What we like about RealtyMogul  Great user experience Withdraw or reinvest your earnings Secure platform Support for non accredited investors Automatic investing  What we don’t like about RealtyMogul Minimum $5,000 investment to get started No app Only accredited investors can access standalone properties Variable fee structure Illiquid investments  Comparing Fundrise vs. RealtyMogul Here are important factors to

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[ad_1] Reliance Industries Q3FY22 Results LIVE: Reliance Industries Ltd is set to announce its fiscal third-quarter earnings later today, wherein Mukesh Ambani’s company is likely to report a healthy gain in net profit and revenues on the back of strong retail and oil-to-chemicals businesses. Analysts expect RIL’s gross refining margins to improve; retail business to have been driven by strong sales; and telecom business Jio to have gained from hike in tariffs. Investors will also keep a close eye on the growth trajectory of Reliance Retail which has been growing strong and will track Reliance Jio’s Average Revenue Per User (ARPU) growth. Developments around Reliance’s new energy unit are also keenly awaited. [ad_2] Source link

[ad_1] FHFA, Federal Housing Finance Agency On the heels of the Federal Housing Finance Agency’s rejection of Fannie Mae and Freddie Mac’s Duty to Serve plans, a coalition of housing groups have some bold ideas for how to beef them up. The collective, dubbed the Underserved Mortgage Markets Coalition, said that in order to be “impactful,” the government sponsored enterprises should significantly hike their purchase of manufactured housing loans. The 19 orgs also urged the GSEs to offer flexible loan products for low- to moderate-income borrowers in high-need rural areas. The group also wants the FHFA to change its policy to give ​​DTS credit for equity investments in some federally subsidized income-restricted rental projects. It’s a long list. And one coalition member organization questioned whether having a percentage-based goal post for the GSEs, rather than a specific target, might result in “unintended consequences.” A Fannie Mae spokesperson said that the GSE has “engaged external stakeholders for recommendations on how we can better support these markets.” The spokesperson said Fannie Mae was fully committed to serving the needs of homeowners and renters in underserved markets, and that it would incorporate input from FHFA and improve the plan in a safe and sound way. Freddie Mac did not immediately respond to a request for comment. The federal Duty to Serve regulations mandate that the Enterprises craft a plan every three years to spur affordable financing for manufactured housing, affordable housing preservation and rural housing. The first three-year Duty to Serve cycle ended in 2021. In January, when the FHFA sent the GSEs back to the drawing board, it declined to provide specifics about the plans shortcomings. But the coalition nonetheless welcomed the news. The groups had already urged FHFA to table them three months prior. “I applaud FHFA for rejecting the proposed DTS plans,” said George McCarthy, CEO of the Lincoln Institute of Land Policy, which convened the coalition. “If Fannie Mae and Freddie Mac adopt the modest consensus recommendations of the Underserved Mortgage Markets Coalition, that would be a win for the Enterprises, FHFA, and affordable housing in the United States.” According to the GSEs’ current proposed plans, which are in effect even as they are revised, Fannie Mae and Freddie Mac would purchase 9,476 and 4,500-5,500 manufactured housing loans, respectively, in 2024. The underserved market coalition wants Fannie Mae to double that target, to 20,675 manufactured housing loans. The coalition is pushing for Freddie Mac to nearly triple its target, to 15,589 loans. Currently, neither of the GSEs purchase manufactured housing loans that are titled as personal property, known as chattel loans. Both Fannie Mae and Freddie Mac had done extensive research in preparation of launching pilot programs for chattel loans. Other federal agencies — both the Federal Housing Administration and the Department of Veterans’ Affairs — already provide financing for chattel loans. But the GSEs scrapped plans to develop chattel programs in early 2020, after the FHFA said both enterprises submitted “infeasibility requests” for their own efforts. The coalition’s proposal called for a three year process, starting with a “rebooting” of the outreach, research, and loan product development objectives for chattel loans. By year two, the coalition said, the GSEs should start chattel loan pilots. In year three, the GSEs should be investing and purchasing loans in the chattel market. The coalition also suggested consumer guardrails for loan products, such as making housing counseling a mandatory component of chattel loans. According to the Consumer Financial Protection Bureau, about 42% of manufactured home loans are chattel loans. Those products typically have higher interest rates and fewer consumer protections than mortgages do. The post Coalition pushes big changes to GSE Duty to Serve proposals appeared first on HousingWire. [ad_2] Source link

[ad_1] Intel plans $20 bln chip manufacturing site in Ohio  Reuters Intel to Invest at Least $20 Billion in New Chip Factories in Ohio  The New York Times Exclusive: Intel Reveals Plans for Massive New Ohio Factory, Fighting the Chip Shortage Stateside  TIME Intel picks Columbus area for largest chip factory in the world  The Columbus Dispatch Silicon heartland  NBC4 Columbus View Full Coverage on Google News [ad_2]