Here's the Roundup — a day early this week (we'll post the DAA and Sector Rotation updates tomorrow).
- Wall Street finds new value in cash as global fears weigh on markets (Wall Street Journal). As stock prices wobble and bond yields rise, cash is no longer trash.
- What does the bond market rout mean for the stock market? (Ben Carlson, A Wealth of Common Sense). "These past few years it feels like everything in the markets is happening faster than ever."
- A stock is not an index (Nick Maggiulli, Of Dollars and Data). The stock price of an individual company may never recover from a big setback. But a setback for an index fund is likely to be temporary — for a simple reason.
- Fidelity is offering 401(k) investors access to bitcoin, the first retirement plan provider to do so (CNBC). This could make crypto even more popular and mainstream.
- Bitcoin in your 401(k)? Not so fast (Madeline Hume, Morningstar). Some observers think Fidelity is making a big mistake.
- How do state taxes affect retirement planning? (Mike Piper, Oblivious Investor). Tax laws — touching on Social Security, retirement account distributions, and estate matters — can differ widely from one state to another.
- Fidelity hiring spree continues with plans to add another 12,000 employees (Wall Street Journal). The big brokers keep getting bigger. Meanwhile, fintech start-up Robinhood is laying off 9% of its full-time workforce.
- New credit card company wants to counter woke banks (Washington Free Beacon). The new company, Coign, will let customers "voice their priorities through charitable donations they get to pick."
- The rich and the wealthy (Morgan Housel, Collaborative Blog). "The man who can buy anything he covets...values nothing that he buys."
- As for me and my household, we'll resist mammon (Andy Crouch, Christianity Today). "Mammon" is more than simply money. It is the "anti-God impetus that finds its power in money."
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