Trump Blasts TACO Trade That's Winning Over Markets
Financial markets love a good acronym, and on Wednesday Donald Trump was asked to respond to the latest.
The so-called TACO trade — which stands for Trump Always Chickens Out — was coined by a Financial Times columnist to describe the practice whereby investors seize on market tumbles after the president makes tariff threats, predicting he will ultimately relent and equities will rebound.
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Yahoo
11 minutes ago
- Yahoo
President Donald Trump Just Delivered Great News to Bitcoin Investors
President Donald Trump's presidency has been positive for crypto investors. Trump has removed road blocks and installed crypto advocates in his cabinet and as advisers. The administration just announced initiatives that could lead to government purchases of the world's largest cryptocurrency. 10 stocks we like better than Bitcoin › President Donald Trump's election victory in November has turned into a sweet dream for crypto investors, none more so than for those who invest in the world's most-valuable cryptocurrency, Bitcoin (CRYPTO: BTC). Since Trump's win last November, Bitcoin is up almost to 60% (as of May 29) and has surpassed $111,000 on several occasions. Trump has surrounded himself with pro-crypto advisors and installed the former head of a financial and crypto consulting firm to run the Securities and Exchange Commission. He's also announced the creation of a U.S. Strategic Bitcoin Reserve to hold Bitcoin currently in the government's possession, and perhaps even purchase more. And Trump just delivered more great news to Bitcoin investors. During former President Joe Biden's tenure, the Labor Department issued guidance to U.S. companies warning them to use "extreme care" before allowing employees to invest in cryptocurrencies through their 401(k) savings accounts: At this stage in their development, cryptocurrencies have been subject to extreme price volatility, which may be due to the many uncertainties associated with valuing these assets, speculative conduct, the amount of fictitious trading reported, widely published incidents of theft and fraud, and other factors. Extreme volatility can have a devastating impact on participants, especially those approaching retirement and those with substantial allocations to cryptocurrency. Guidance from federal agencies isn't the law of the land but it tends to have a sobering effect, as companies often get concerned that by acting against official guidance they may find themselves under scrutiny. The Trump administration has now rescinded this guidance, which is more or less a green light for employers to consider offering crypto or crypto-related investments to their employees, if they so choose. However, the current Labor Department added that it is "neither endorsing, nor disapproving of" crypto investments in 401(k) accounts. In 2024, the U.S. Government Accountability Office found that while some 401(k) plans were offering workers the ability to invest in crypto, actual investment remained low. Still, the new guidance and friendly approach toward crypto by the Trump administration is likely to change this, and it presents yet another tailwind for Bitcoin and the sector. Most crypto experts think that wider adoption by more mainstream financial institutions will help move crypto prices higher. Retirement savings in 401(k) plans totaled more than $8.9 trillion as of late 2024, so even a gradual increase in crypto purchases by this group could make a big difference. Now, whether investors should consider adding crypto to their 401(k) accounts is another question. Last year, BlackRock, the world's largest asset manager, published a report on whether Bitcoin should be included in a multi-asset portfolio. It ultimately concluded that Bitcoin could consume a similar allocation as the high-flying "Magnificent Seven" stocks. According to the report: Those stocks [the Magnificent Seven] represent single portfolio holdings that account for a comparatively large share of portfolio risk as with bitcoin. In a traditional portfolio with a mix of 60% stocks and 40% bonds, those seven stocks each account for, on average, about the same share of overall portfolio risk as a 1-2% allocation to bitcoin. We think that's a reasonable range for a bitcoin exposure. Bitcoin is now viewed by many as the equivalent of digital gold and therefore a hedge against inflation and a flight to safety as U.S. fiscal concerns mount. For this reason, I think it does make sense to have some small exposure to Bitcoin in your portfolio because it offers a form of diversification away from stocks and bonds. Bitcoin has shown resilience and some similar attributes to gold such as its finite supply of 21 million tokens. In my opinion, Bitcoin is the only cryptocurrency right now that deserves a small allocation in a 401(k) account. Every other crypto has proven volatile and shows no real attributes that make a multi-asset portfolio any safer. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Bram Berkowitz has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. President Donald Trump Just Delivered Great News to Bitcoin Investors was originally published by The Motley Fool Sign in to access your portfolio
Fast Company
16 minutes ago
- Fast Company
NYC pension funds want asset managers like BlackRock to have legitimate net-zero plans—or lose their business
As the Trump administration funnels money into fossil fuels and the country largely retreats on climate efforts, New York City is trying to ensure its pension funds take the climate into consideration. In 2021, New York City officials announced that the city's pension funds divested an estimated $4 billion from fossil fuel companies, a landmark move in the effort to divest money from polluting industries. But divesting directly from these companies only covers a small portion of how the markets support the continued development of oil, gas, and coal. Major asset managers like BlackRock still invest in fossil fuels; so if a pension fund is invested in BlackRock, it's still essentially funneling money into oil, gas, and coal. Now, those asset managers will have to show the city that their investments align with New York's climate goals, or they could risk losing the pension funds' business. New York City Comptroller Brad Lander recently announced new climate standards for pension fund asset managers, including clear net-zero goals that decrease their scope 1, 2, and 3 emissions. Asset managers have until June 30 to submit their climate strategies to the city. Officials will evaluate those net-zero plans to ensure that they're 'real and actionable.' If an asset manager's plans fail to meet those climate standards, they'll be sent to a 'rebid' process, meaning they'll have to bid again for the pension funds' business, and the funds could then move their money to a different, cleaner asset manager. As part of any new bidding process, Lander will recommend evaluating an asset manager's corporate-level climate behavior as well. 'What we're doing is getting the New York City pension funds to use their buying power to shift money from dirtier money managers like BlackRock, who are bad on climate, to cleaner money managers,' says Pete Sikora, climate campaigns director with New York Communities for Change, a nonprofit that campaigned for these new standards. Activists hope that by taking business away from the less climate friendly asset managers, those companies will be forced to clean up their portfolios in order to get back the pension funds' business. New York City's five pension funds have nearly $300 billion worth of investments, with a few hundred asset managers. The largest is BlackRock, which holds nearly $60 billion of the funds' investments. (In total, BlackRock has more than $11 trillion in assets under management.) The city's pension funds include the New York City Employees' Retirement System (NYCERS), Teachers' Retirement System (TRS), and Board of Education Retirement System (BERS), which have all historically been progressive on climate action; TRS is also the largest investor with $109 billion in assets. (The other two funds are the New York City Police Pension Fund and the New York City Fire Pension Fund.) Already, since 2019, New York City's pension system has reduced its greenhouse gas emissions by 37%. It aims to be net-zero by 2040. This move to require climate plans from asset managers—and to stop investing with them if their climate plans aren't strong enough—is crucial to reaching that goal, Sikora says. It's a more impactful move than just divesting directly from fossil fuel companies, he notes, 'because it pushes the entire financial industry' to be cleaner. 'There's no way to stave off global climate catastrophe unless finance as a whole flees from oil, gas, coal, and deforestation,' he says. The move is also a direct response to the Trump administration's efforts to funnel money into the fossil fuel industry, and to push back the entire country's climate progress. 'We will not retreat from our strong climate action, a position that remains consistent with our fiduciary duty. Climate risk is financial risk,' Lander said in a statement. 'Some may cave to the Trump administration and reverse their climate commitments, but we will not be deterred from jointly prioritizing our climate goals and financial responsibilities.' (Lander is running to be the Democratic candidate in New York City's mayoral race, and has made ' standing up to Donald Trump ' a tenet of his campaign.) New York Communities for Change has been advocating for these climate standards for years, Sikora says, and was talking to Lander about the possibilities before he was even elected as comptroller in 2021. Before that role, Lander was on the city council, where he sponsored a resolution calling on BlackRock, JP Morgan Chase, Liberty Mutual, and other financial institutions to stop lending to and investing in the fossil fuel industry. That hinted to activists that he would be supportive of these efforts. Though this effort was years in the making, it's becoming more urgent as the financial industry backslides on climate commitments at large. In January 2025, weeks before Trump took office, six major banks left the Net-Zero Banking Alliance, a group that was setting net-zero targets for the financial world. Still, some funds are trying to hold banks to account. In February, the People's Pension, one of the United Kingdom's largest pension funds, said it was 'prioritizing sustainability' by pulling a majority of its money out of State Street; the fund moved £20 billion to a different asset manager, Amundi, which it says has stronger climate standards. Changes to New York City's pension funds won't happen immediately, though. After asset managers submit their climate plans to the city, officials have to review them before they make recommendations on whether to put the business up for rebid; those recommendations will likely start to happen in the summer or early fall. New York City's move to divest its pension fund from fossil fuels did face a lawsuit from oil and gas companies in 2023; in 2024, the city won. These additional climate requirements may also face criticism or legal pushback, particularly from the Trump administration, but Sikora is confident it will hold up in court. Investing in fossil fuels is no longer a sure route to profitability; thousands of oil and gas assets are at risk of becoming stranded —meaning they would be unprofitable or forced to shut down years before planned—because of the impacts of climate change. 'New York City pension funds have an interest in a healthy world,' he says. 'You don't have New York City pension funds in a dead New York City that is submerged under rising seas. . . . On a basic, prudential level, you shouldn't be furthering your own destruction with your investments.'
Yahoo
19 minutes ago
- Yahoo
House in Trump security zone is listed for $12.5 million
Another Palm Beach house is up for grabs in the security zone that borders President Donald Trump's Mar-a-Lago Club. The four-bedroom house at 112 Algoma Road is priced at $12.5 million and is a potential tear-down, according to the May 20 sales listing. The street is the third one north of Mar-a-Lago in the neighborhood that closes to through-traffic when the president is in residence at his private club. Built in 1952, the one-story house on Algoma Road is being marketed in the local multiple listing service in two categories – single-family homes and land. With 2,930 total square feet, the Bermuda-style house stands on a non-waterfront lot of about a third of an acre. It's the second house west of South Ocean Boulevard, which divides a row of direct-beachfront homes from the rest of the Estate Section. The house has been in the same family for nearly 45 years. Property records show its owned through a trust by Joyce S. Vaughn, who has it homesteaded as her primary residence in the latest Palm Beach County tax rolls. She bought the house for a recorded $385,000 in 1981 with her late husband, management-consulting executive Clother Hathaway Vaughn III. He died in 2019 at 85. Agent Margit Brandt of Premier Estate Properties holds the listing, which describes the property as having a 'bespoke' location with a 'truly elite level of privacy' and nearby deeded beach access. The listing says the house has a swimming pool but provides no details about the home's interior. 'Looking at the market today, 112 Algoma is the only dry lot available for sale in Palm Beach's Estate Section,' Brandt told the Palm Beach Daily News. 'It is also the only piece of land publicly available (in the MLS's land category) in the presidential security zone adjacent to Mar-a-Lago. This presents a special opportunity for a buyer to build their dream home in one of the most coveted, exclusive locations in the world.' Since early December, six residential properties in the Mar-a-Lago security zone have sold at prices ranging from $12 million to $27.5 million. Among those sales was another on Algoma Road. In December, that never-lived-in, five-bedroom house developed on speculation at 130 Algoma Road changed hands for a recorded $14.3 million. Two other houses are 'active' listings in the MLS's single-family category in the same neighborhood. An estate at 160 Clarendon Ave. is offered at $48.85 million by broker Lawrence Moens of Lawrence A. Moens Associates, while a house at 1048 S. Ocean Blvd. is listed at $23.95 million by agent Elizabeth DeWoody of Compass Florida. One other neighborhood house is listed in the 'pending' category of the MLS, meaning it is under contract. That's a four-bedroom house at 142 Via Palma with 7,633 total square feet, listed by Brandt at $18.95 million. When Trump is at Mar-a-Lago, security officers shut down South Ocean Boulevard in the neighborhood, opening the road only to property owners or their authorized visitors, representatives or workers. The security zone runs north from the club property for seven blocks, or about half a mile, to South County Road. Because the area is bordered by the Atlantic Ocean on one side and the Intracoastal Waterway on the other, the roadblock effectively divides the town in two, forcing through-traffic to detour across bridges into West Palm Beach and back. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ Help support our journalism. Subscribe today. This article originally appeared on Palm Beach Daily News: $12.5M listing in Mar-a-Lago security zone is a possible tear-down
