Over the last few years, ETFs have seen a tremendous surge in use and popularity among all breeds of investors for a number of reasons. Some are attracted to the low costs. Others value the tax efficiency and liquidity. I love ETFs (in part) because they facilitate a “top-down” approach to investing. Picking individual stocks comes with far too much risk for my liking. Even if you pick the right sector, a bad pick still leads to the wrong result. I’d much rather make an investment based on macroeconomic trends or sector-specific developments than comb through financials of individual firms looking for the next Google (needless to say, I’m a big fan of tactical asset allocation). [click to continue…]
According to a report from consultants Bain & Co., spending on luxury goods in expected to decline by about 8% in 2009, an improvement from an earlier forecast that called for double digit declines on the year. Previously, Bain had projected a decline of about 10% following a drop of up to 20% in the [...]