Positives:
1. Building permits rose 11.8% to an annualized pace of 1.1m, the highest number since 2007.
2. Homebuilder sentiment rose to 59, up from 54 and higher than the 56 expected.
3. Weekly jobless claims came in at 267k, vs expectations of 279k.
4. Philly fed index rose to 15.2, versus expectations for a reading of 9.
Negatives:
1. Consumer price index rose 0.4%, up from 0.1% previously and lower than the 0.5% expected.
2. Empire fed came in at -2 vs +6 expected.
3. Capacity utilization fell to 78.1%, down from 78.3% in May.
4. Housing starts fell 11.1% to an annualized pace of 1.04m, vs the 4% expected decline.
5. Core CPI rose 0.1%, down from 0.3% previously and below the 0.2% expected.
~~~
Thankfully there are a number of sites dedicated
to conveying investment advice that is actually worthwhile. The exceptional
sites listed below can serve as resources for those looking to invest wisely and
gradually accumulate wealth.
- Big Picture: Barry Ritholtz remains one of the most insightful and honest financial commentators out there (as well as a tremendous source of morning reading).
- Bogleheads Forum: This free community of Bogleheads contains a massive amount of information on every topic imaginable, and is a great place to start for anyone looking to develop a greater understanding of investing.
- Coffeehouse Investor: This site is run by fee-only advisor Bill Schultheis, who is guided by the ideathat investors are best off when they do a little bit of planning and a lot of enjoying and experiencing life.
- Crossing Wall Street: Named the “best buy-and-hold blogger” by CNN Money, Eddy Elfenbein is a great source for both daily reading and long-term investing insight.
- Dividend Mantra: Jason Fieber, a passionate investor and “frugalist,” writes about his journey to financial independence through consistent savings and smart investing. In addition to updates on his portfolio, Jason shares detailed information about his monthly budgets and savings rate.
- Investor’s Field Guide: Patrick O’Shaughnessy is a portfolio manager who has written extensively about investor behavior and authored a book on investing strategies for today’s younger generations.
- Jason Zweig: The longtime personal finance columnist (currently at The Wall Street Journal) is one of the more thoughtful writers working for a major media outlet. Jason’s personal site is home to anoutstanding collection of his best pieces.
- Larry Swedroe: The director of research for the BAM Alliance is one of the most intelligent voices in the financial industry, who distills complex studies and research projects into actionable advice for all types of investors.
- Meb Faber: Meb is the CIO of Cambria Investment Management and the author of several books on investing. His site features book excerpts (he’ll also send you a free copy), research summaries, andgeneral thoughts on investing best practices.
- Oblivious Investor: Mike Piper is a CPA and author of several books, with a gift for illustrating just how simple investing should be. His Investing 101 summary is a great starting point for those with little experience.
- Reformed Broker: Josh Brown is the CEO of Ritholtz Wealth Management, on-air contributor to CNBC’s “The Halftime Report,” and author of a couple of books. His reputation for providing honest insights about the wealth management industry has made him one of the most widely followed voices in the business.
- Rick Ferri: Rick is the founder of Portfolio Solutions and author of several books. He is one of themost vocal proponents of low-cost indexing and general common sense investing.
- Wealth of Common Sense: Ben Carlson is an institutional money manager who excels at breaking down complex investing topics into concise, easy-to-understand discussions.
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