Latest news with #J.P.MorganChase
Yahoo
06-05-2025
- Business
- Yahoo
Why Low-Debt Stocks Are the Way to Go
May 5, 2025 -- (Maple Hill Syndicate) When President Trump was a businessman, he was famous for taking on lots of debt. Now that he's the President, I believe that companies would be smart to do the opposite. High-debt companies run at least three risks. Rising interest rates. Tariffs could make some goods scarcer. Tight immigration policy could make labor scarcer. The combination could push up inflation, leading to higher rates that make interest payments more painful. A recession. If the economy turns sour, companies with lots of debt are in danger of falling into the bankruptcy chasm. J.P. Morgan Chase thinks the chance of a recession is 60%. Uncertainty. Frequent policy changes increase uncertainty. When uncertainty reigns, low-debt companies are the safer bet. Even when the economic skies look sunny, I favor low-debt companies. All the more so now. Here are five publicly traded companies that stand out because they have little or no debt. Gentex Down 37% over the past year, Gentex Corp. (NASDAQ:GNTX) of Zeeland, Michigan, seems to me due for a comeback. The company's main product is self-dimming mirrors for cars. Car sales in the U.S. are so-so, and Gentex has stopped shipping to China. The U.S. has imposed a 145% tariff on imports from China, which has retaliated with a 125% tariff. Analysts expect Gentex's profits to fall about 3% this year, but bounce back in 2026 and 2027. Gentex is totally debt-free, and the stock sells for about 13 times earnings. Employers Holdings Employers Holdings Inc. (NYSE:EIG), out of Reno, Nevada, sells workers compensation insurance, mostly in California. It serves mid-sized and small businesses, especially restaurants. Profits haven't grown fast, but have been consistent: No losses in 23 years. The stock is cheap, selling for 1.1 times book value (corporate net worth per share). But it seems to be permanently cheap: the price-to-book ratio is the same as the ten-year average. Monarch Cement Monarch Cement Co. (MCEM), which I mentioned in a recent column on small stocks, has a market value of a little under $1 billion. It hails from Humboldt, Kansas, and does business in that state plus parts of Arkansas, Iowa, Nebraska, and Oklahoma. The company has zero debt, and lately has posted a profit margin of about 22%. Earnings are reasonable consistent: Monarch has been profitable in 14 of the past 15 years. (It had a small loss in 2011.) So far as I can tell, the company is completely neglected by Wall Street. Cal-Maine Foods
Yahoo
27-04-2025
- Business
- Yahoo
JP Morgan Chase targeting more customers who allegedly used 'infinite money glitch' to steal cash, report says
It was a scheme too good to be true — and now, the bank wants its money back. A number of fresh lawsuits have been filed against J.P. Morgan Chase customers nationwide accused of exploiting what became known on social media as the 'infinite money glitch,' according to CNBC. The scam briefly let users withdraw phantom funds out of their bank accounts. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) "We're still investigating cases of fraud and cooperating with law enforcement — and we'll do that for as long as it takes to hold fraudsters accountable," Drew Pusateri, a spokesperson for the bank, told the broadcaster in story published April 16. CNBC says a source familiar with the company's actions revealed the bank is now targeting customers who allegedly stole amounts below $75,000, and letters were sent to over 1,000 customers demanding they repay funds. The "infinite money glitch" involved depositing fake checks into an ATM and withdrawing the money before the checks bounced. It's a form of check fraud. This scheme became widely known in August after spreading quickly on social media. The core exploit was that the bank's system temporarily made funds from deposited checks available before the bank had time to verify and clear the check. J.P. Morgan Chase has filed new lawsuits in multiple states, including Georgia, New York, Texas and Florida, against individuals accused of exploiting the glitch, per CNBC. The bank previously focused on larger cases in federal court but is now pursuing smaller cases in state courts. Read more: This hedge fund legend warns US stock market will crash a stunning 80% — claims 'Armageddon' is coming. Don't believe him? He earned 4,144% during COVID. Here's 3 ways to protect yourself "On August 29, 2024, a masked man deposited a check in Defendant's Chase bank account in the amount of $73,000," the bank said in a suit filed in Georgia on April 15, according to CNBC. The bank further claimed a series of cash withdrawals at two Chase branches in the state totaling $82,500 had been made before the check bounced after six days. CNBC withheld the defendant's name, but says the lawsuit claims they owe the bank $57,8847.69 and have yet to comply with requests to return the funds. This isn't the first time a financial hack has gained popularity online, and it may not be the last. If there's one lesson here, it's this: taking advantage of a "glitch" doesn't make it legal, and companies will come after you. This case also highlights a broader truth in today's finance world: viral "hacks" that promise fast cash almost always come with strings attached — whether legal, financial or ethical. If something seems like it breaks the rules, it probably does. And if you're ever tempted by a so-called infinite money trick, remember: the banks have lawyers. Lots of them. It's always best to stay on the cautious side. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
26-04-2025
- Business
- Yahoo
JP Morgan Chase targeting more customers who allegedly used 'infinite money glitch' to steal cash, report says
It was a scheme too good to be true — and now, the bank wants its money back. A number of fresh lawsuits have been filed against J.P. Morgan Chase customers nationwide accused of exploiting what became known on social media as the 'infinite money glitch,' according to CNBC. The scam briefly let users withdraw phantom funds out of their bank accounts. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) "We're still investigating cases of fraud and cooperating with law enforcement — and we'll do that for as long as it takes to hold fraudsters accountable," Drew Pusateri, a spokesperson for the bank, told the broadcaster in story published April 16. CNBC says a source familiar with the company's actions revealed the bank is now targeting customers who allegedly stole amounts below $75,000, and letters were sent to over 1,000 customers demanding they repay funds. The "infinite money glitch" involved depositing fake checks into an ATM and withdrawing the money before the checks bounced. It's a form of check fraud. This scheme became widely known in August after spreading quickly on social media. The core exploit was that the bank's system temporarily made funds from deposited checks available before the bank had time to verify and clear the check. J.P. Morgan Chase has filed new lawsuits in multiple states, including Georgia, New York, Texas and Florida, against individuals accused of exploiting the glitch, per CNBC. The bank previously focused on larger cases in federal court but is now pursuing smaller cases in state courts. Read more: This hedge fund legend warns US stock market will crash a stunning 80% — claims 'Armageddon' is coming. Don't believe him? He earned 4,144% during COVID. Here's 3 ways to protect yourself "On August 29, 2024, a masked man deposited a check in Defendant's Chase bank account in the amount of $73,000," the bank said in a suit filed in Georgia on April 15, according to CNBC. The bank further claimed a series of cash withdrawals at two Chase branches in the state totaling $82,500 had been made before the check bounced after six days. CNBC withheld the defendant's name, but says the lawsuit claims they owe the bank $57,8847.69 and have yet to comply with requests to return the funds. This isn't the first time a financial hack has gained popularity online, and it may not be the last. If there's one lesson here, it's this: taking advantage of a "glitch" doesn't make it legal, and companies will come after you. This case also highlights a broader truth in today's finance world: viral "hacks" that promise fast cash almost always come with strings attached — whether legal, financial or ethical. If something seems like it breaks the rules, it probably does. And if you're ever tempted by a so-called infinite money trick, remember: the banks have lawyers. Lots of them. It's always best to stay on the cautious side. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
26-04-2025
- Business
- Yahoo
Best financial ETFs: Top funds for banks, insurers and REITs
If you're wondering how to invest in the financial sector, exchange-traded funds (ETFs) can be a simple way to get started. ETFs that focus on the financial sector invest in companies that are involved in different areas of finance such as banking, insurance, real estate and investment management. You can choose a broad financial ETF that invests in all these areas, or you can choose to invest more narrowly in one of the sub-sectors. By using an ETF, you can invest in a basket of companies without having too much exposure to one individual stock. Here are some of the best financial ETFs investors should consider. All data is as of April 23, 2025. Though the financial sector may seem homogenous, several different businesses fall within the financial label. You can invest in a broad financial ETF or choose to focus on one of its type of fund will hold companies in all areas of the financial sector and will typically be the most diversified type of fund will hold a number of different banks, with major banks such as J.P. Morgan Chase and Bank of America typically making up significant percentages of the fund's type of fund will hold companies that provide different types of insurance such as auto, life and property and type of fund invests in companies involved in capital market activities such as asset management, brokers and type of fund may hold real estate investment trusts (REITs) or other companies involved in the purchase or development of real property such as hotels or office buildings. This fund seeks to achieve investment performance that tracks the Financial Select Sector Index, which aims to provide an effective representation of the financial sector of the S&P 500. The ETF holds companies involved in a variety of financial activities including banking, insurance, REITs and capital markets. 5-year returns (annualized): 19.6 percent Expense ratio: 0.08 percent Dividend yield: 1.4 percent This ETF invests based on the KBW Nasdaq Bank Index and typically allocates at least 90 percent of its assets in securities that make up the index. Holdings include large money-center banks, such as Wells Fargo and Bank of America, as well as regional banks and thrift institutions. 5-year returns (annualized): 14.4 percent Expense ratio: 0.35 percent Dividend yield: 2.5 percent This fund seeks to track the investment performance of the Dow Jones U.S. Select Insurance Index. The insurers are involved in life, property and casualty and full-line insurance. Major holdings include Chubb, Progressive and The Travelers Companies. 5-year returns (annualized): 23.8 percent Expense ratio: 0.39 percent Dividend yield: 1.6 percent This ETF aims to track the performance of the S&P Capital Markets Select Industry Index. Companies in the index are involved in industries such as asset management and custody, financial exchanges, as well as investment banking and brokerages. The ETF's major holdings include Robinhood, StoneX Group and Virtu Financial. 5-year returns (annualized): 22.5 percent Expense ratio: 0.35 percent Dividend yield: 1.7 percent This fund aims to track the return of the MSCI U.S. Investable Market Real Estate 25/50 Index. The fund invests in REITs and companies involved in the purchase of commercial real estate, hotels and other real property. Top holdings include Prologis, American Tower and Welltower. 5-year returns (annualized): 7.7 percent Expense ratio: 0.13 percent Dividend yield: 4.0 percent Before purchasing an ETF, it's useful to know some key information about the fund. Here are some areas to pay close attention to. Sub-sector – Make sure you know which sub-sector you're investing in and the unique characteristics of companies in that industry. Not all financial sector companies respond the same way to different economic conditions. Investment track record – Looking at how the fund has performed over short-, medium- and long-term time frames will help give you an idea of what to expect in terms of the fund's investment return. Of course, past performance is not a guarantee of future results. Expense ratio – You'll want to know how much the fund charges annually because the fee comes straight out of your investment return. Larger funds can often have lower expense ratios because they have a greater amount of assets to spread their costs over. Fund holdings – It's worth peeking at the fund's top holdings to make sure its actual investments align with its sub-sector and investment objectives. Typically, the holdings will make sense based on the fund description but watch out for holdings that don't line up with the fund's name or objective. The best brokers for ETFs can help you find attractive funds with strong long-term returns. If you're looking for an easy way to invest in the financial sector, ETFs provide a simple option to achieve that. You can choose a broad financial sector ETF or narrow your approach and invest in ETFs that track specific sub-sectors. Make sure you understand how each sub-sector is impacted by different economic conditions and pay close attention to the ETF's expense ratio. If you're just starting out, a broadly diversified fund based on indexes such as the S&P 500 might be a better fit. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
2 GOP Megadonors Turn On Donald Trump Over His Tariffs
Two billionaire Republican megadonors have called out President Donald Trump's sweeping tariffs as a growing band of executives speak out publicly amid the policy crashing global markets. Home Depot founder Ken Langone and Ken Griffin, another wealthy GOP supporter, expressed their unease with the trade war as even Trump's right-hand man, Elon Musk, reportedly intervened to get the president to row back. In an interview with The Financial Times published Monday, Langone said he was baffled by the much-derided calculations behind the import taxes. 'I don't understand the goddamn formula,' Langone said. 'I believe he's been poorly advised by his advisers about this trade situation — and the formula they're applying.' Langone added that the 46% tariff on Vietnam was 'bullshit,' and the extra 34% tax on China was 'too aggressive, too soon' and prevented 'serious negotiations a chance to work.' 'Forty-six per cent on Vietnam? Come on!' said Langone. 'You might as well tell them, 'Don't even bother calling.'' Speaking at an event in Florida, Griffin called the tariffs a 'huge policy mistake.' Griffin said that families making $50,000 annually are being told, 'it's going to cost you 20%, 30%, 40% more for your groceries, for your toaster, for a new vacuum cleaner, for a new car.' He added, 'Even if the dream of jobs coming back to America plays out, that's a 20-year dream. It's not 20 weeks. It's not two years. It's decades.' The comments come after billionaire hedge fund manager Bill Ackman, a vocal Trump supporter, warned that without a pause, the U.S. will launch an 'economic nuclear war' that may cause business investment in America to 'grind to a halt.' Jamie Dimon, the CEO of J.P. Morgan Chase, said the tariffs 'will likely increase inflation and are causing many to consider a greater probability of a recession.' Despite stocks plunging, Trump and his closest advisers have dismissed concerns. Trump on Monday told critics not to be 'weak' or 'stupid,' and insisted, 'GREATNESS will be the result!' Peter Navarro, Trump's top trade adviser, gave a personal 'guarantee' that the market's upending tariffs will not trigger a recession. Appearing on Fox News on Monday night, Navarro claimed the tanking stock market is 'finding a bottom now.' He added, 'I guarantee no recession, OK? Why? Because when we pass the biggest, broadest tax cut in history within a matter of months, that's going to be a great stimulus.' On Tuesday morning, stocks rose on Wall Street and around the world to claw back some of the historic losses since Trump unveiled the tariffs last week. Trump Was Asked To Call Off Tariffs By Perhaps His Most-Trusted Adviser: Report Trump's Explanations For His Tariffs Actually Make No Sense At All J.P. Morgan Chase CEO Has Grim Warning About Trump's Tariffs
