Juggling Dynamite

As institutions, hedge funds and even retail flows have been selling equities all year, central bank interventions and the largest corporations borrowing to buy back their own shares have managed to prop a low volume bid under wobbling broad markets. Still, the Canadian TSX Composite is today clinging to the same level it was at in April 2007 and January 2011. The NYSE is unchanged since October 2013 and the S&P 500 (below) was here last in November 2014. Tons of capital risk and volatility for zero progress with breathtaking downside from here. Road to riches or ruin?

On March 31, Tesla will unveil the Model 3, the most affordable electric vehicle yet. Tom Randall takes us through what we know so far. Here is a direct video link.

Also see India is aiming for all cars to be electric by 2030 for a smart financing approach that has buyers paying monthly with the cash flow they are saving in not buying gas (not to mention the repair and maintenance savings which are huge compared with ICE vehicles):

The program would let people buy electric vehicles with zero down payment financed by the state and drivers can then pay for the vehicle at the rate they are saving on gas.
Piyush Goyal recently said at an event via India Times:

“India can become the first country of its size which will run 100 per cent of electric vehicles. We are trying to make this programme self financing. We don’t need one rupee support from the government. We don’t need one rupee investment from the people of India.”

The minister added:  “We are working (on the scheme). Can we actually give electric car for free (zero down payment) and people can pay for that out of the savings on the petroleum products. Innovation is possible, it just needs an open mind. You need to think of scale and be honest.

The financial advice sales industry has fought for years to avoid a requirement that they put the best interests of their clients ahead of their own, but finally the move toward fee transparency, disclosure of conflicts and a higher standard of care seems to be in the offing.  See  US wealth managers grit teeth and prepare for Labor rule for an update and some dark humor about why some ‘advisors’ are looking to switch careers.  Apparently if they can’t abuse their trusting clients then they can’t see a way forward with the financial advisor gig.  Perhaps try selling vacuums or used cars, guys?  To wit:

Wealth managers in the United States are cutting fees, relying more on technology to give advice and reducing the minimum amounts clients can hold in their brokerage accounts, all in preparation a new rule governing how they advise retirement savers.

Some advisers are even job hunting, worried that the rule’s impending introduction could slash their compensation.

The Department of Labor (DOL) is expected to publish the so-called fiduciary standard in the next few weeks. It requires wealth managers to put the interests of retirement savers ahead of their own.

…The wealth management industry has opposed the proposal for years, arguing it will drive up costs, curb commissions and ultimately hurt customers because firms could abandon clients with smaller, less lucrative accounts.

But after five years of fighting, the industry has accepted that the end is in sight.