Common Joins AdoptAClassroomorg And Burlington Stores To Support Teachers And Students

first_imgAdoptAClassroom.org, the award-winning national non-profit organization that helps teachers and students get the materials they need to learn and achieve in the classroom, is proud to announce its inaugural partnership with the national off-price retailer, Burlington Stores.COMMON Joins AdoptAClassroom.org and Their Partner Burlington Stores to Support Teachers and Students NationwideThe two have combined forces this back-to-school season to launch a national point-of-sale campaign in all 599 Burlington stores nationwide to raise funds for classrooms in need across the country. Joining their efforts is Oscar winning actor and musical artist Common and his mother, a 35-year educator and Chicago Board of Education member, Dr. Mahalia Hines. Together, with their relentless passion and activism for education, the mother-and-son duo have worked with hundreds of students in Chicago to provide opportunities, resources and tools to help them become future leaders.Ninety-one percent of K-12 teachers purchase classroom supplies out of their own pockets, spending on average $600 of their own money each year, with nearly twenty percent of teachers spending more than $1,000 annually. As a result of this campaign, Burlington hopes the funds raised will lessen this burden on teachers and help provide them with the support and classroom resources they need to do their job and make a real impact with students.The fundraising effort launched July 9th at all 599 Burlington stores across the country, encouraging customers to donate $1 or more at checkout to support AdoptAClassroom.org. The back-to-school campaign will run through August 19, 2017. All funds raised will be disbursed to teachers this fall in communities where Burlington operates stores. Additionally, for each new store Burlington opens across the country this fall and next spring, they will adopt all teachers in a school within close proximity to the new store. This is yet another demonstration of Burlington’s on-going commitment to giving back where their associates and customers live and work.Today, Common joined AdoptAClassroom.org and Burlington Stores to announce a surprise donation of $10,000 to adopt the Renaissance School of the Arts in Harlem, New York. Each teacher will receive funding from AdoptAClassroom.org towards school supplies such as Chromebooks, calculators, book sets and science kits, amongst a multitude of other items, so that their students have access to what they need to learn and prosper in the upcoming school year.“Growing up, I watched how my Mother cared for her students, both as an educator and outside of the classroom. I realized very early just how important it is to have an adult in your corner, and for many kids that adult is often a teacher,” said Common. “I’m proud to support AdoptAClassroom.org and their partnership with Burlington to help provide classroom supplies to teachers and students in need.”“At Burlington Stores, giving back is a part of our culture as a caring company and we know the importance of supporting teachers and their students. This back to school season, we are excited to partner with AdoptAClassroom.org to be able to provide the necessary funding so that teachers can get the supplies they need for their students to succeed,” said President, CEO and Chairman of Burlington Stores, Tom Kingsbury.“We are thankful to Burlington and their millions of customers and thousands of associates nationwide for their support to help us further our mission. This initiative will help to fill the resource gap in classrooms across the country,” said Executive Director of AdoptAClassroom.org, Ann Ness. “We look forward to getting even more classroom materials into the hands of students through this meaningful partnership.”We encourage customers to shop Burlington for all their back-to-school needs this summer and donate $1 or more at checkout now until August 19th to help support teachers and their students locally and nationwide.For more information visit BurlingtonStores.com or AdoptAClassroom.org.last_img read more

SpaceXs 1st traveller is moonstruck Japanese fashion tycoon

first_imgTOKYO – The Japanese billionaire who Tesla chief Elon Musk says plans to blast off on the first-ever private commercial space trip aboard the SpaceX Big Falcon Rocket often makes headlines in Japan. The SpaceX mission, set for takeoff in 2023, is just the latest exploit in tycoon Yusaku Maezawa’s colorful and ambitious career:___FASHION BRANDMaezawa, 42, is the chief executive of Start Today Co., which he founded in 1998 as a CD sales business when he was still in his 20s. The company pioneered e-commerce in Japan and now runs the popular fashion mall Zozotown, selling various, relatively affordable clothing brands. Annual sales totalled more than 98 billion yen ($890 million) in the fiscal year that ended in March.___THE MONEYForbes magazine estimates Maezawa’s wealth at $2.9 billion. In a nation where billionaires are relatively rare, he gets attention for his celebrity friends and for zipping around in a private jet and fleet of sports cars. Such flamboyance is uncommon in a country where even very rich men often keep a low profile.___MUSICAL BEGINNINGSMaezawa’s trademark defiant but disarming style may be rooted in his start as a musician, playing drums in indie rock bands. The punk band he was in, called Switch Style, signed with a major Japanese record label. He opted out of attending prestigious Waseda University in Tokyo to pursue music and then started his own business selling imported CDs. The name of his company was inspired by the title of an album by the American punk band Gorilla Biscuits.___ART COLLECTIONMaezawa has invested lavishly in art, collecting works by Jean-Michel Basquiat and Andy Warhol, among others, and in designer-brand furniture from abroad. He paid $110.5 million for Basquiat’s 1982 painting of a graffiti-like black and blue rendition of a human skull, a record price for an American artist, at a Sotheby’s auction last year. “When I saw this painting, I was struck with so much excitement and gratitude for my love of art,” Maezawa said at the time. He had set the previous auction record for a Basquiat, in 2016, when he paid $57.3 million.___PERSONAL LIFEMaezawa recently has been dating Japanese actress Ayame Goriki. He previously had a widely publicized relationship with model and actress Saeko, the ex-wife of major league baseball player Yu Darvish. In a recent tweet, when someone asked whether he was going to get married soon, Maezawa replied, “No.”___THE SUITMaezawa has recently shown off a wearable technology called the Zozosuit, the centerpiece of his Zozo fashion brand. Customers first order a black, body-hugging outfit covered with white dots. They then take a smartphone photo wearing the outfit which is used to do a full body scan, determining shapes and sizes with a special app. Choices are still limited to basic pants and shirts for now, but that could change.___SPACE TRIPMaezawa says the planned trip to space is a way “to inspire the dreamer in all of us.” He plans to take six or eight artists, architects and designers with him. He hasn’t said who they might be or how much he is paying for the trip. The idea is for those creative minds to see the moon up close and planet Earth from afar. Maezawa says he has often wondered what Basquiat might have drawn if he had travelled into space. “I choose to go to the moon, with artists,” Maezawa tweeted both in Japanese and English.___Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyamaHer work can be found at https://www.apnews.com/search/yuri%20kageyamalast_img read more

Pleasant morning in Delhi 34 degrees likely

first_imgNew Delhi: It was a bright and cool morning in the national capital on Tuesday with the minimum temperature recorded two notches below the season’s average at 16.2 degrees Celsius. The maximum temperature was expected to hover around 34 degrees Celsius. “The sky will remain clear throughout the day,” an Indian Meteorological Department official said. At 8.30 a.m. the humidity was recorded at 65 per cent. On Monday, the maximum temperature was recorded at 33.7 degrees Celsius, while the minimum was recorded a notch below the season’s average at 17.6 degrees Celsius, both season’s average.last_img read more

Urban Meyers comfort level improving along with offensive line pass defense needs

Ohio State football coach Urban Meyer made his weekly appearance on the Big Ten teleconference Tuesday afternoon and discussed the improved play of the offensive line, the emergence of sophomore running back Ezekiel Elliott and his comfort level with the team thus far.The Buckeyes are 3-1 on the season following a 50-28 victory over the Cincinnati Bearcats Saturday night.        Meyer said after Saturday’s win over Cincinnati his offensive line has “crossed the barrier” and added he believes the offense has developed depth and more of an identity. He named redshirt-junior Chase Farris as someone who has improved and is earning playing time on the offensive line.        He said that with the return of senior tight end Jeff Heuerman from injury to go along with the improved line play that the Buckeyes have more of an offensive identity now.        Meyer said he believes the performance of Elliott is a product of better offensive line play.        Meyer said the running back position as a unit is the hardest working group on the team. He gave credit to running backs coach Stan Drayton and said Elliott is among the top two or three hardest workers on the team.        He said after evaluating the pass defense, he doesn’t think there is a lack of talent, rather a lack of execution. He said young corners in the secondary simply need to play better, singling out redshirt-freshmen Gareon Conley and Eli Apple as players who need to improve.        Meyer said his comfort level with his team is night and day from where it was week one against Navy.        He said the biggest challenge for the Buckeyes going into Saturday’s game against Maryland will be slowing down the Terrapin offensive skill players. Meyer added that Maryland quarterback C.J. Brown will greatly test OSU as he is the leading passer and rusher for Maryland.The Buckeyes are scheduled to take on the Maryland Terrapins on Saturday at noon at Byrd Stadium in College Park, Md. read more

Womens Soccer Ohio State takes down Iowa for third straight win

Ohio State freshman midfielder Talani Barnett (4) scores a goal off a header in the second half of the game against Iowa on Sept. 27. Ohio State won 2-0. Credit: Casey Cascaldo | Photo EditorThe Ohio State women’s soccer team (6-4, 3-1 Big Ten) extended its three-game winning streak Thursday, prevailing 2-0 over Iowa (5-5-2, 1-3-1 Big Ten) at Jesse Owens Memorial Stadium. Senior goalkeeper Devon Kerr continued her scoreless streak, recording four saves against the Hawkeyes for the fifth shutout of the season. In the past three games, she has recorded 16 saves, bringing her total to 42 saves in nine games this season. Ohio State has not won a game without a Kerr clean sheet.Freshmen defender/midfielder Talani Barnett notched the Buckeyes first goal of the night on a header off a corner kick with the assist by sophomore defender Izzy RodriguezRodriguez was not done. She scored the second and final goal of the match on a penalty kick late in the match. “I think our performance was pretty good,” Rodriguez said. “We took advantage of the moments we had and were just going to have to get better for Sunday.”The Buckeyes came off a victorious weekend prior to the match, taking down Illinois and No. 21 Northwestern with two consecutive shutouts. After three consecutive wins, head coach Lori Walker-Hock said she is glad that the team gets to play at home this weekend. “We’ve been on the road so much that there’s a great energy about the team,” Walker-Hock said. “I thought they came out with the right energy, we really pinned Iowa in, got to the end line a ton of times and created a bunch of corners, so we figured out a way to win.”Ohio State was also able to hold a 4-2 advantage over the Hawkeyes in corner kicks in the first half. The Buckeyes return to Jesse Owens Memorial Stadium to play Nebraska on Sunday at 2:30 p.m. read more

Worlds most expensive XI team

first_imgThe World’s most expensive XI team has been named with the likes of Cristiano Ronaldo and Neymar leading the wayThe title of the world’s most expensive player belongs to Neymar following his £200m move from Barcelona to Paris Saint-Germain last year.But at the age of 33, Ronaldo isn’t showing any signs of slowing down with Juventus having made him the fourth most expensive player in world football last month following his shock transfer from Real Madrid.Ahead of him in the list are Philippe Coutinho, who completed a stunning £113m move from Liverpool to Barcelona in January, and 19-year-old Kylian Mbappe, who has become the most expensive signing of the year after PSG elected to pay AS Monaco £121m for him this summer to make his stay at the club a permanent one after spending last season on loan.Maurizio Sarri, JuventusMaurizio Sarri satisfied despite Juventus’ draw at Fiorentina Andrew Smyth – September 14, 2019 Maurizio Sarri was satisfied with Juventus’ performance on Saturday afternoon after finishing a tough game at Fiorentina 0-0.Below is the list of the world’s most expensive players in a 4-3-3 formation:GK: Kepa Arrizabalaga (Chelsea) – £72mRB: Kyle Walker (Manchester City) – £48mCB: Aymeric Laporte (Manchester City) – £59mCB: Virgil Van Dijk (Liverpool) – £70mLB: Benjamin Mendy (Manchester City) – £52mCM: Paul Pogba (Manchester United) – £94mCM: Philippe Coutinho (Barcelona) – £113mCM: James Rodriguez (Real Madrid) – £68mRW: Kylian Mbappe (PSG) – £121mLW: Neymar (PSG) – £200mCF: Cristiano Ronaldo (Juventus) – £105m(As reported on the Daily Star)last_img read more

Queiroz says the real Asian Cup starts now

first_imgIran and Iraq tied 0-0 in Matchday 3 of the 2019 AFC Asian Cup, and the Iranian team is now ready for the next stage of the competition.Iran and Iraq tied 0-0 today as the Iranian team ended up on the first place of Group D in the 2019 AFC Asian Cup.And Iran coach Carlos Queiroz has said that the real competition starts now.“I have no energy now. It was so intense, but it was played in good spirits. There was a lot of excitement in both teams,” Queiroz told The Khaleej Times.“We controlled the game. In the first half, we played better. We created two chances. The second half, it was 50-50. At the end of the day, for the commitment and the effort from both teams, I think the draw was a fair result.”Cristiano Ronaldo, PortugalAli Daei wouldn’t be upset if Ronaldo breaks his scoring record Andrew Smyth – September 13, 2019 Iranian legend Ali Daei wouldn’t be upset to lose his record as international football’s all-time record scorer to the “great” Cristiano Ronaldo.“We played a very good game against a very tough team. My players came out with great character,” Queiroz added.“When it’s necessary to play, they play. When it’s necessary to fight, they fight. Now they must be ready to play the game that is in front of them.”“We will try to be mentally fresh for the next game because now the real Asian Cup starts. From now on, only the team that wins will survive,” the Iran coach said.“For us, our goal was to qualify. After the first two games, we felt that we could be top of the group. Another goal was to give the opportunity to some players against Iraq. We made five changes. All of them showed that they are ready to compete.”last_img read more

Stop The Clot Fitness Event Hosted in Providenciales

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsApp#TurksandCaicos, November 22, 2017 – Providenciales – The second installment of ‘Stop The Clot’ continued this past Saturday, November 18th, 2017 as residents gathered at the Lower Bight Kid’s Park on Providenciales to participate in the fitness walk, run and cycle event hosted by InterHealth Canada – Turks and Caicos Islands Hospital.The fitness event is dedicated to raising awareness of Venous Thromboembolism (VTE). Participants clad in the color red started their journey on foot and bicycle shortly after 6:00 am along the Lower Bight road towards The Sands Resort roundabout and returned to the Kid’s Park as the finish line. Members from the TCI Cycling Federation embarked on an even longer journey towards Heaving Down Rock in support of the cause.Prizes were awarded to the first male and female runners to complete the route, the youngest person to participate in the race, and the first male and female cyclers to cross the finish line.   The event also featured Soca Aerobic sessions under the direction of Natalie Danclar-Rodney, a well-known local fitness enthusiast.   Complimentary blood pressure, cholesterol, glucose and body mass index screenings were also provided to participants at the Providenciales event.During the event, Chief of Medical Services, Doctor Denise Braithwaite-Tennant explained the signs, symptoms and preventative measures associated with VTE and encouraged residents to live healthy lifestyles. An information booth with resources on VTE was also available.A clot in the vein (usually in the leg or pelvis) is known as a deep vein thrombosis (DVT) and a clot that breaks off and travels to the lungs is known as a pulmonary embolism (PE).   Together, DVT and PE make up Venous Thromboembolism (VTE). One in four people worldwide die of conditions caused by thrombosis.Press Release: interHealth Canada Related Items:last_img read more

Kylian Mbappés 2018 gets crowned with the Kopa Award

first_imgFrench sensation Kylian Mbappé, was the first ever young player to receive the brand new Kopa Award during the Ballon d’Or gala last Monday.The world of football journalism is learning that they have to be more inclusive in order to evolve, they didn’t only give the first ever Ballon d’Or to the best female player of 2018 but they also gave the new Kopa Award to Kylian Mbappé.Created in the name of football legend Raymond Kopa, this prize is delivered to the best under 21 player in the world and the PSG forward was the obvious choice.Kylian Mbappé had already started his career two years ago when he mesmerized the whole world after making his official debut for AS Monaco, two years later he is already a World Cup champion with France and one of the most expensive football players in history after PSG paid a staggering €180 million for his services.His already impressive numbers from the first year as a professional have done nothing but grow since he moved to the French giants, he has even eclipsed Neymar during his time there and has even managed to earn a better spot in this year’s Ballon d’Or selection.Mbappé already is the future of world football, the true heir to Cristiano Ronaldo and Lionel Messi.I just want to follow my dreams…🖤 pic.twitter.com/By6KXDjTnZ— Kylian Mbappé (@KMbappe) December 4, 2018We would advise you to not confuse this new award with the Golden Boy prize, which is also delivered by the press but it was actually created by Italian newspaper Tuttosport.The France Football Kopa Award is brand new and Mbappé is the first-ever player to receive it, he was right there next to Luka Modric and Ada Hererberg taking all the pictures that confirm he is the best young player in the world right now.But Kylian Mbappé’s year is even more impressive by a few other factors, one being that he even beat Lionel Messi on the list of player voted by the press to be the best in the world this year.While Leo was ranked fifth with 280 points received, the French youngster was fourth with 347 votes in his name.Kylian was only 67 points behind the third place in the podium, which was his compatriot Antoine Griezmann and 131 points behind the second-placed Cristiano Ronaldo.Neymar responds to PSG criticism with a stunning winner Tomás Pavel Ibarra Meda – September 14, 2019 Despite all the backlash he got today at Parc des Princes, Neymar responded by scoring a stunning winner vs Strasbourg.We all knew that Neymar’s…Mbappé’s credit is huge given that he is still very young and his career is only getting started.Always together 😍.. pic.twitter.com/V4RcQzZhLD— Kylian Mbappé (@KMbappe) December 4, 2018With this position inside the list for the adult players, it was pretty obvious that Kylian Mbappé would be the first-ever Kopa Award winner as he stepped on stage to receive the huge honor.This young talent is the one who is leading the brand new generation of very talented footballers to the new era, but he is not the only one who is performing at an alarmingly high level as there are many other great players who have the skill to deliver results and trophies for their club or country.However, despite how impressive the new generations of talented players appear to be right now, Mbappé still seems like the very best star inside a whole constellation of truly amazing talents.We are all in awe with the potentially dominating career that he will have in the next decade, we are also eager to know if he will decide to remain at PSG for his whole career or if he will choose to make the jump to one of the biggest clubs in the world such as FC Barcelona or Real Madrid.We saw him cross paths with president Florentino Perez during the ceremony, maybe they spoke about the future, maybe not.Trophée KOPA 🏆✅ pic.twitter.com/eWAyrgcuGV— Kylian Mbappé (@KMbappe) December 3, 2018How long do you think it will take Kylian Mbappé to win his first Ballon d’Or? Please share your opinion in the comment section down below.last_img read more

High Winds Expected For Turnagain Arm Area

first_imgFacebookTwitterEmailPrintFriendly分享The National Weather Service has issued a wind advisory for the Turnagain Arm and Portage Valley area in effect from late this evening until Monday morning.* LOCATION…Through Turnagain Arm and Portage Valley.* WIND…East wind 45 to 65 mph with possible gusts to 85 mph.* TIMING…Winds will increase this afternoon and evening, possibly to as high as warning level beginning late tonight and persisting into Monday morning. Winds will then quickly diminish on Monday afternoon and evening. The strongest winds are expected to occur through Portage Valley from this event.* IMPACTS…Travel may be difficult. Trees may be blown over. Loose debris can be moved and damage property.PRECAUTIONARY/PREPAREDNESS ACTIONS…A high wind watch means there is the potential for a hazardous high wind event. People are encouraged to closely monitor this weather situation. Preparation for this potentially dangerous weather event should begin now.last_img read more

POLICE LOG for August 1 Wilmington Man Arrested Injured Baby Skunk Rescued Vandalism

first_imgWILMINGTON, MA — Here are highlights from the Wilmington Police Log for Wednesday, August 1, 2018:Police came across a vehicle running in the parking lot at Michael’s Place on Lowell Street. Two parties stated they had too much to drink and are awaiting a ride from a friend. The vehicle will be staying at this location overnight. (1:01am)Police were out in the Woburn Street area after reports of picketers in the roadway. (7:07am)A passerby reported two turkeys were “stuck together” at West Street and Kilmarnock Street. Animal Control Officer unable to locate. (7:42am)A River Street caller reported her dog caught a baby skunk. Animal Control Officer brought skunk, which was still alive, to Best Pets and then Andover Animal Hospital. (7:46am)A 16-year-old was arrested on a warrant of apprehension (a child requiring assistance warrant) and brought to Lowell Juvenile Court. (8:27am)A Dorchester Street caller reported a squirrel inside their house. (9:04am)A walk-in party reported their debit card was stolen on or about July 30. (2:34pm)Nicholas Evan Belanger (21, Wilmington) was arrested on a warrant. Belanger was arrested at Speedway on Main Street. (4:32pm)A walk-in party reported that on the 129/62 sign by Rotary Park, someone wrote a derogatory term on it. Police notified Mass Highway. (7:06pm)(DISCLAIMER: This information is public information.  An arrest does not constitute a conviction.  Any arrested person is innocent until proven guilty.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip?Share this:TwitterFacebookLike this:Like Loading… RelatedPOLICE LOG for August 29: Burlington Man Arrested For OUI; Injured HummingbirdIn “Police Log”POLICE LOG for August 1: Lowell Woman Arrested For OUI; Billerica Teen Arrested On Warrant; 2 Drivers Issued SummonsesIn “Police Log”POLICE LOG for June 27: Stranger Enters Resident’s House; Man Denies Asking Young Girls To Follow HimIn “Police Log”last_img read more

Man wakes up just before burial

first_imgHis grave was dug and his body was about to be buried — just when some of the family members noticed movement. Mourning stopped and a bewildered family rushed Mohammad Furqan to an Indian hospital where he has been put on ventilator.The 20-year-old was admitted to a private hospital on 21 June after an accident. He was declared dead on Monday and his body arrived at his home in an ambulance.His elder brother Mohammad Irfan said: “Devastated, we were preparing for the burial when some of us saw movement in his limbs. We immediately took Furqan to the Ram Manohar Lohia hospital where the physicians said he was alive and put him on ventilator support.””We had paid Rs 700,000 to the private hospital earlier and when we told them that we had run out of money, they had declared Furqan dead on Monday,” Irfan said.Lucknow chief medical officer (CMO) Narendra Agarwal said, “We have taken cognizance of the incident and the matter will be thoroughly probed.””The patient is in critical condition but definitely not brain dead. He has pulse, blood pressure and his reflexes are working. He has been put on ventilator support,” the physician treating Furqan said.last_img read more

Twitter Names New Heads of US News Sports Content Partnerships EXCLUSIVE

first_imgTwitter has filled some key roles in its reorganized content partnerships group in the U.S. — promoting company insiders instead of outside hires.In June, Twitter’s global content partnerships group, led by VP Kay Madati, shifted to a regional management structure rather than one organized around content verticals.With the reorg, global video-partnerships head Todd Swidler and global head of news Peter Greenberger left Twitter. Laura Froelich — formerly global director of sports content partnerships — was moved into the new role of head of U.S. partnerships, while David Grossman, formerly Twitter’s global head of entertainment, is now head of U.S. entertainment (reporting to Froelich).Now Froelich has picked two other lieutenants: TJ Adeshola as head of U.S. sports and Nick Sallon as head of U.S. news. Popular on Variety Pictured above: TJ Adeshola (l.), Nick Sallon Adeshola (pictured above, left) will lead all U.S. sports partnerships at Twitter, after spending the previous few years managing Twitter’s partnerships with major U.S. sports leagues, including the NFL and the NBA. Before joining Twitter in 2012, he worked on ESPN’s digital sales and marketing team.Sallon (above, right) spent the previous two years as the GM of news for live video. He joined Twitter in 2015 with the company’s acquisition of Periscope, where he led content strategy. Sallon has focused on developing digital video strategies and revenue opportunities for news organizations, including working on programming for Twitter like Bloomberg’s TicToc and Buzzfeed News’ “AM2DM.” Prior to Twitter, he ran content acquisition and business development at Aereo (the Barry Diller-backed live-TV streaming startup sued by big broadcasters).In addition, Madati announced two other new members of the global content partnerships group: Stacy Minero as head of content creation, and Tyler Vaught as head of creators and Niche, Twitter’s branded-content program for creators.Minero, who reports to Madati, will focus on branded content. She’s spent the past four years at Twitter on brand strategy and agency development, where her team advised brands on content strategy and creative ideas to launch campaigns or win cultural moments. In 2017, she launched Twitter’s Fuel Team, designed to scale creative strategy to a broader slate of clients and offer in-house editing to optimize video for Twitter.Vaught is tasked with driving the global strategy around how Twitter partners with creators for branded and original content. He has been at Twitter for three years, previously as Niche’s head of West Coast business development. Vaught reports directly to Minero.According to Twitter, even though it dissolved the dedicated live-video team, video remains a strong strategic focus for the company.During the second quarter of 2018, according to Twitter, it continued to invest in video infrastructure, improving the quality of the video experience while increasing reach and engagement for content owners. Also in Q2, the company signed 50 new live-streaming, video-on-demand, video highlight, and Twitter Amplify video-ad deals, including with Disney/ESPN, NBCUniversal and Viacom. ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15last_img read more

Physicists demonstrate rotated light images

first_img This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Play Image rotation filmed for a light beam propagating through a 10cm length of ruby rod, spinning the rod first clockwise and then anti-clockwise (as viewed from the camera position). Video: Science, DOI: 10.1126/science.1203984 To test this theory, the team created a square beam of green light, which they then directed at a spinning cylinder made entirely of ruby. The light was sufficiently strong enough to shine all the way through the cylinder, creating a square image on the other side. To see if the image was being rotated as the cylinder spun, the exact location of the projected image was noted, then the cylinder was spun in the opposite direction, to see if it would then be in a different position; which of course, it was. With the cylinder spinning at 30 revolutions per second, they found that the projected image was rotated about a third of a degree. They also found that increasing the amount of light tended to increase the amount of rotation of the projected image, in some cases, by as much as ten degrees.The research team note in their paper that they believe one application of this phenomenon could be its use in image encoding, just as current methods now include an image’s intensity. Scientists drag light by slowing it to speed of sound (PhysOrg.com) — In what might at first seem obvious, but isn’t after further thinking, a group of physicists from the United States and Canada have demonstrated, for the first time, that images generated by light, can be rotated via a rotating medium. In a paper published in Science, physicists Sonja Franke-Arnold, Graham Gibson, Robert W. Boyd and Miles J. Padgett describe how they were able to replicate the effects of light shifting via a moving medium, in a spinning medium, opening the door to a possible new way of encoding transmitted images. Explore further Scientists have long known that when a light is shone through certain moving material, that the light itself can be shifted along with it, due to the photons being absorbed and then released by the atoms in the medium. The effect has been demonstrated over the years and can be seen in the simplest of venues, such as light shining through a waterfall. Until now however, no one has shown that a similar effect might apply to a rotating medium.The idea is that if a beam of light, projected in a certain shape, such as a square for example, were to be shone through a spinning medium, such as a round block of glass, the image would emerge on the other side, but not exactly opposite; it would be off, just a little bit, in the direction of the spin. The amount of shifting would of course depend on both the speed of revolution of the cylinder and on the medium used, as some, such as rubies are able to cause more of a drag, per se, on the light as it moves through, than others.center_img More information: Rotary Photon Drag Enhanced by a Slow-Light Medium, Science 1 July 2011: Vol. 333 no. 6038 pp. 65-67 DOI: 10.1126/science.1203984ABSTRACTTransmission through a spinning window slightly rotates the polarization of the light, typically by a microradian. It has been predicted that the same mechanism should also rotate an image. Because this rotary photon drag has a contribution that is inversely proportional to the group velocity, the image rotation is expected to increase in a slow-light medium. Using a ruby window under conditions for coherent population oscillations, we induced an effective group index of about 1 million. The resulting rotation angle was large enough to be observed by the eye. This result shows that rotary photon drag applies to images as well as polarization. The possibility of switching between different rotation states may offer new opportunities for controlled image coding.via PhysicsWorld Citation: Physicists demonstrate rotated light images (2011, July 6) retrieved 18 August 2019 from https://phys.org/news/2011-07-physicists-rotated-images.html © 2010 PhysOrg.com PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQuality0SpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenlast_img read more

Its a crowded field but Canada Jetlines says it wants PVR CUN

first_img Travelweek Group Tags: Canada Jetlines, Jetlines VANCOUVER — Canada Jetlines says it intends to provide future service to several sun destinations in Mexico including Puerto Vallarta, Los Cabos and Cancun.The start-up ultra low-cost carrier, currently aiming for a summer 2019 launch, says it has reached agreements with Grupo Aeroportuario del Pacífico to provide future service to the Puerto Vallarta International Airport (PVR) and the Los Cabos International Airport (SJD), as well as Grupo Aeroportuario del Sureste (ASUR) to provide future service to the Cancun International Airport (CUN). “We are thrilled to announce future service to these airports,” says CEO Javier Suarez. “I have worked in this market extensively and have a deep understanding of how to operate successful routes in and out of Mexico. We look forward to providing Canadians with ultra-low fares for their vacation plans. With the money saved, Canadians will have the ability to spend more at their destinations; staying longer or in nicer resorts with their friends and family members. Our low fares will also encourage Mexicans to visit beautiful Canada.”Suarez joined Canada Jetlines in June 2018, first as Chief Commercial Officer and later as CEO, from Mexican low-cost carrier VivaAerobus where he was Vice President, Network Planning, Revenue Management, E-Commerce.Grupo Aeroportuario del Pacífico CEO Raul Revuelta says, “We at GAP are pleased to welcome Jetlines at our Puerto Vallarta and Los Cabos airports. During 2018, for the first time in history, we received a combined traffic of 10 million passengers at both airports; this due to the growing number of hotel rooms and the high quality of the touristic products offered at these amazing destinations. I am sure that our Canadian friends will have a wonderful time while visiting Puerto Vallarta and Los Cabos, and we at GAP will continue to work to provide them with the best airport experience.”And ASUR’s Customer and Route Development Director Alejandro Vales said, “ASUR is delighted to welcome Jetlines to our Cancun airport. A brand-new Canadian airline bridging new origins from Canada to our world-class destination will be a recipe for success indeed.”The long list of carriers flying Canadian vacationers to Mexico got even longer this month with low-cost carrier’s Swoop’s new service to Cancun, Mazatlzan and Puerto Vallarta.Suarez says Canada Jetlines’ ability to service these routes is subject to the completion of the airline licensing process and the receipt of applicable regulatory approvals. It’s a crowded field but Canada Jetlines says it wants PVR, CUN & SJD Thursday, January 17, 2019 center_img Share Posted by << Previous PostNext Post >>last_img read more

The recent restructure at FremantleMedia has posit

first_imgThe recent restructure at FremantleMedia has positioned it to capitalise on digital opportunities and acquisitions in the digital sector are likely, CEO Cecile Frot-Coutaz said.In response to a question from DTVE’s sister publication TBI, Frot-Coutaz said the recent restructure at the RTL-owned producer and distributor, leaves it well placed to grow its digital business.The changes were about ensuring digital is at the heart of the company’s activities and ensuring opportunities in the sector are not missed, which is possible if there are silos within the group, Frot-Coutaz said.“In today’s market, digital, brands and sponsorship are integral to how we make shows and to the development process – the next big programming franchise is likely to have some digital element baked into it,” said Frot-Coutaz. Acquisitions in the digital realm are also on the agenda, the FremantleMedia boss added.Keith Hindle, who was recently appointed to lead FremantleMedia’s new Digital and Branded Entertainment arm also said:  “There are now digital networks aggregating enormous traffic and eyeballs and we can extend our core business into these platforms if we get it right.”Frot-Coutaz was speaking at the MIPTV programming market where FremantleMedia announced a raft of programming deals and launched ten new projects.These included the the first two projects resulting from its previously announced relationship with Vuguru – multiplatform comedies called Fetching and Hollywood Help.David Ellender, CEO of FremantleMedia International, said as many as twenty projects will be created over the two-year life of the Vuguru deal.Ellender also announced that FremantleMedia has taken international rights to the Blake’s 7 remake, which is being made by Georgeville TV and will be on the Syfy cable net in the US.last_img read more

Liberty Globals satellite unit UPC DTH has now

first_imgLiberty Global’s satellite unit, UPC DTH, has now surpassed 800,000 customers in Europe – a more than 60% increase since the formation of the division in 2010.Liberty provides satellite TV services in Central and Eastern Europe operating under the brand names freeSAT in the Czech Republic and Slovakia, UPC Direct in Hungary, and Focus Sat in Romania.UPC DTH claims that it continues to expand its channel portfolio and has brought 18 new international and local channels, many in HD, to its customers over the past 12 months.“To mark the milestone of surpassing 800,000 customers, UPC DTH awarded its 800,000th customer, Elena D. from Bucharest a Focus Sat customer with one year free service,” said UPC DTH.“In addition, UPC DTH has announced a competition starting Wednesday, October 21, with a year’s free service available to a total of five winners across the four operating countries.”last_img read more

Good day And welcome to another week  We had som

first_imgGood day. And welcome to another week.  We had some great weekend weather which I took advantage of watching my son’s football game Saturday and daughter’s soccer and field hockey games yesterday.  None of the games resulted in wins, but I enjoyed myself in spite of the outcomes.  The labor data here in the US provided the equity markets with a pleasant outcome Friday as stocks ended the week on a positive note.  The dollar didn’t have such a good week, dropping just over one and one half percent vs. the major currencies.  This week will be dominated by the FOMC meeting here in the US and the German constitutional court ruling on the other side of the pond.But we will start with a recap of events on Friday.  The US labor department reported the biggest decline in factory jobs in two years, contributing to a disappointing increase in payrolls during August.  The US economy added just 96,000 jobs last month after a revised 141,000 increase in July.  The median estimate of economists surveyed by Bloomberg called for a gain of 130,000 jobs.  Factory payrolls declined by 15,000 workers last month and was the major contributor to the drop in jobs.  Details of the report showed the workweek shrank, and the number of industries hiring new workers plunged to the lowest level in almost three years.  Definitely not a good sign for the prospects of the unemployed factory workers, and exactly what the current administration didn’t want to see.  A lot was made of the rebound in the auto industry, but the data showing manufacturing jobs have decreased throws cold water on that line of thought.But the President and his supporters can still point to the unemployment rate which dropped to 8.1%.  Yes, the number of people working dropped, at the same time the unemployment rate also dropped.  Much like last month, the unemployment rate and monthly jobs data seemed to be in conflict.  But unlike last month when the difference was blamed on inconsistencies in the generation of the reports, this month’s conflict could be more easily explained.  Americans are leaving the workforce at a faster pace than they are entering it.   368,000 Americans left the labor force last month, most of them giving up looking for new work.  The participation rate, which shows the share of working-age people in the labor force, fell to 63.5% from 63.7%.  There are currently fewer working-age people in the labor force than at any time since September 1981.  That one piece of data is a great indicator of just how bad things are here in the US.The labor data have increased the odds of action by Bernanke this week.  The Federal Open Markets Committee will be meeting on Wednesday and Thursday, and the Chairman is expected to announce another round of stimulus for the markets during his press conference Thursday morning.  During my presentations out in San Francisco, I shared my thoughts that there was just slightly higher than a 50% chance of another stimulus announcement this month.  I felt it was just too close to the Presidential election for the Fed to act; as they try to avoid the appearance of being too political.  But Chairman Bernanke has pointed toward the stagnant labor market as the key to further stimulus, and Friday’s report should provide him plenty of cover to avoid looking too political.  The markets are certainly expecting Bernanke to announce another round of stimulus; I saw a survey this morning which put the odds of another stimulus announcement this week at 99%!!The question now is exactly what will Bernanke announce.  Some now believe he will model his new program off of the ECB’s, announcing unlimited additional bond buying.  This would allow the Fed to continue purchasing bonds until they feel the economy shows more definite signs of recovery.  The advantage of this program, as shown by the reaction to the ECB’s announcement last week, is that the markets can’t question the ability of the central bank to take action.  But unlike the ECB program which is solely aimed at sovereign debt within 3 years, the Feds new program will likely be aimed at mortgage debt with longer maturities.  Another difference is that the ECB won’t buy bonds unless a country asks for a rescue, and then the bond purchases will come with austerity commitments by the country seeking help.  The Fed’s quantitative easing program won’t have any austerity measure tied to it, in fact it is more of an ‘anti austerity’ program adding to our deficits and debt in the interest of stimulating growth.Friday’s labor report and the resulting increase in expectations for another round of stimulus led to a rally in gold and treasuries and a continued fall in the value of the US$. Investors, worried about the inflationary impact of additional stimulus measures, took gold to the lofty levels it was trading at back in March.  While prices moved down a bit going into the weekend, gold is still firmly entrenched in an upward trend and certainly looks like it will challenge it’s former highs.The dollar lost ground vs. most of the major currencies on Friday, ending a week in which the dollar index fell over 1.5%.  I guess the ‘Chuck is off the desk rally’ held true again.  In years past, whenever Chuck is off the desk for an extended period, we always seem to have a currency rally, and last week’s dollar action was a confirmation of this pattern.  As I explained last week, the reason for the fall in the US$ is a fairly simple case of supply and demand.  The Fed will be creating a whole lot of dollars which it will be using for the bond purchases, and this increase in supply will eventually lead to inflation.  It may not be reflected immediately in the price of goods and services, as international investors still seem to have an appetite for the freshly minted currency.  But eventually the demand will slacken, and at that point we could see a spike in inflation.  Bernanke has told us he is aware of this risk, but he is convinced the Fed can pull the newly created dollars back out of the markets as fast as he is adding them.  I guess we will just have to wait and see if he is correct, but the markets are starting to hedge their bets.The ECB action last week helped the euro push above the $1.28 handle, but it gave it back and is hovering just below it this morning.  Concerns over the German Constitutional ruling due out this week, combined with renewed concerns in Greece put a lid on the appreciation of the single currency.   The German court is expected to give its ruling on Germany’s participation in the European Stability Mechanism on Wednesday.  The court is expected to allow for Germany’s participation, but currency traders are worried they may put stipulations on any future participation of Germany in European bailouts.  Both German Chancellor Angel Merkel and Finance Minister Wolfgang Schaeuble are confident the German court will allow the establishment of the ESM, allowing the bailouts to continue.Greek Prime Minister Antonis Samaras is due to meet officials from the ECB, IMF, and EU today.  Samaras failed to secure an agreement to the 11.5 billion spending cuts required for the release of the next round of rescue funding.  After this year’s two elections, Samaras is operating with a minority government and must get his two coalition partners to agree to the austerity measures.  At least one of the two is demanding the cuts be combined with growth measures. “The recession is deep and if these measures aren’t accompanied by growth measures, they will be ineffective,” according to Greece’s Democratic Left leader Fotis Kouvelis.  “Our European partners need to know that Greeks can’t take anymore.  Nothing can be taken for granted.”  Sounds like we could be in for some more volatility in Greece.  We warned you that the rollercoaster ride of the euro isn’t over yet, so just make sure you are strapped in!The Canadian dollar rallied to a yearly high this morning after a report showed employment in our northern neighbor rose faster than forecast.  Canadian employment rose by 34,300 jobs in August, offsetting a decrease of 30,400 the month before.  The unemployment rate remained at 7.3%, right on target with median forecasts.  While the number was definitely a positive sign, the Canadian economy is expected to remain in a slow growth mode.  Last week the Bank of Canada left the key interest rate unchanged at 1% in an effort to encourage investment and consumption to drive growth.Carney has reflected a hawkish tone, as increases in the prices of commodities which make up the majority of Canada’s exports threaten to push up Canadian inflation rates.  The increase in commodity prices caused the BOC to reiterate that interest rates may have to be raised in order to prevent inflation from accelerating.  Following last week’s BOC meeting, Carney said “some modest withdrawal of the present considerable monetary policy stimulus may become appropriate.”  Higher interest rates would give even more support to the Canadian dollar, sending it to new yearly highs.The Australian dollar moved lower in early European trading after a report showed China’s imports slowed.  Both Canada and Australia have commodity driven economies, and the commodity markets are dependent on strong demand  from China.  A report released earlier today showed China’s imports slid 2.6% in August from a year earlier, the first decline since January.  The same report showed Chinese exports rose 2.7% and a different report showed production increased 8.9%.  The Chinese President sounded a warning, saying China’s economic expansion faces ‘notable downward pressure’.The pace of the global economic recovery is going to be dependent on Asia, as both the US and Europe’s economies continue to struggle.  So the news that Chinese imports slowed are worrying.  China has been slowly changing from an export driven economy into one driven more by internal consumption, so the slowdown in imports is concerning.  And concerns regarding the Asian growth prospects were heightened further with the release of Japanese GDP measures which showed the economy grew at just .7% during the 2nd quarter, less than the preliminary reports which predicted a 1.4% increase.  The median forecast of economists was right in the middle of the two figures at 1%.  The spending which was necessitated by last year’s earthquake and tsunami helped push GDP up slightly, but that spending is now over and gridlock in the Japanese parliament is preventing any additional stimulus.  There is a good chance the Japanese economy could slip back into contraction in the 3rd quarter.  I continue to warn against investments in the Japanese yen, and actually look at it as one of the currencies which could fall the most as investors start to move back into higher yielding currencies.To recap. Friday’s monthly jobs reports showed a US economy which is still struggling to recover, and put the possibility of a stimulus announcement by the Fed at almost 100%.  The future of the ESM (and therefore the euro) rests in the hands of a German Constitutional court which is expected to rule later this week.  But the court is widely expected to rule in the euro’s favor, and the single currency continued to rally.  The possibility of another round of stimulus had gold rallying along with the commodity currencies.  The loonie hit a yearly high but the Australian dollar moved lower after a Chinese report showed imports decreasing.  Japan’s GDP came in at ½ of what was originally predicted, and further stimulus isn’t in the cards for the Japanese yen.Currencies today 9/10/12. American Style: A$ $1.0353, kiwi .8106, C$ $1.0239, euro 1.2781, sterling 1.6009, Swiss $1.0562. European Style: rand 8.1789, krone 5.7822, SEK 6.6390, forint 223.04, zloty 3.2178, koruna 19.177, RUB 31.7243, yen 78.28, sing 1.2365, HKD 7.7559, INR 55.3875, China 6.3377, pesos 12.9622, BRL 2.029, Dollar Index 80.336, Oil $96.46, 10-year 1.67%, Silver $33.6925, Gold $1,734.57, and Platinum $1,596.75That’s it for today.  Tough loss for both our football teams this weekend.  Mizzou looked good for the first three quarters in their opening SEC game vs. Georgia, but just couldn’t hang with the dawgs at the end of the game.  And the St. Louis Rams dropped their season opener during the final 10 seconds of the game played up in Detroit.  My son’s high school team got routed on Saturday morning after their game Friday night was delayed because of a storm which rolled through during the first half.  Not a good football weekend, but I enjoyed it still as the weather was absolutely fantastic Saturday and Sunday.  The trading floor has a new look this morning as workers installed several new desks over the weekend to keep up with our growth.  Things are a bit cozier now and I’m sure the noise volume will increase as we put butts in all the new seats; but that is what I like about being out on the floor, all the noise and activity are what makes it a trading floor.  Gone on a bit long this morning, so I will just thank all of you readers for sharing your morning with me.  Hopefully this will be a Marvelous Monday and a great start to your week!Chris Gaffney, CFA SVP & Director of Sales T. 314-951-1619 EverBank World Markets 8300 Eager Road, Ste. 700, St. Louis, MO. 63144 EverBank.comlast_img read more

The Shiller PE SP 500 divided by the 10year av

first_imgThe Shiller P/E (S&P 500 divided by the 10-year average of inflation-adjusted earnings) is now 27, versus a long-term historical norm of 15 prior to the late 1990s bubble. Importantly, the profit margin embedded into the Shiller P/E is currently 6.7% versus a historical norm of just 5.4%. The implied margin is simply the denominator of the Shiller P/E divided by current S&P 500 revenues (the ratio of trailing 12-month earnings to revenues is even higher at 8.9%). As I showed in “Margins, Multiples and the Iron Law of Valuation,” taking this embedded margin into account significantly improves the usefulness and correlation of the Shiller P/E in explaining actual subsequent market returns. With this adjustment, the margin-adjusted Shiller P/E is now nearly 34, easily more than double its historical norm. This fact is important, because the Shiller P/E averaged 40 during the first nine months of 2000 as the tech bubble was peaking. But that Shiller P/E was associated with an embedded profit margin of only 5.0%. Adjusting for that embedded margin brings the margin-adjusted Shiller P/E at the 2000 peak to 37. Quite simply, stocks are a claim not on one or two years of earnings, but on a very long-term stream of cash flows that will actually be delivered into the hands of investors over time. For the S&P 500, that stream has an effective duration of about 50 years. At normal valuations, stocks have a duration of about half that because a larger proportion of the cash flows is delivered up front. The point is that our concerns about valuation aren’t based on what profit margins might do over the next several years. To take earnings-based valuation measures at face value here is essentially a statement that current record-high profit margins, despite being highly cyclical across history, will remain at a permanently high plateau for the next five decades. That’s the only way that one can use current earnings as representative of the long-term stream of cash flows that stocks will deliver over time. In order to use a simple P/E multiple to value stocks, this representativeness assumption is an absolute requirement. On other measures that have an even stronger historical correlation with actual subsequent market returns than either the Shiller P/E or the S&P 500 price/operating earnings ratio, the ratio of stock market capitalization to GDP is now about 1.33, compared to a pre-bubble norm of 0.55. The S&P 500 price/revenue multiple is now about 1.80, versus a historical norm of 0.80. On the measures we find most reliably associated with actual subsequent 10-year market returns (with a correlation of about 90%), the S&P 500 is not just double, but about 120-140% above historical norms. On a broader set of reliable but more varied measures, the elevation averages about 116%. Current equity valuations provide no margin of safety for long-term investors. One might as well be investing on a dare. It may seem preposterous to suggest that equities are literally more than double the level that would provide a historically adequate long-term return, but the same was true in 2000, which is why the S&P 500 experienced negative total returns over the following decade, even by 2010 after it had rebounded nearly 80% from the 2009 lows. Compared with 2000 when we estimated negative 10-year total returns for the S&P 500 even on the most optimistic assumptions, we presently estimate S&P 500 10-year nominal total returns averaging about 1.3% annually over the coming decade. Low interest rates don’t change this expectation—they just make the outlook for a standard investment mix even more dismal and the case for alternative investments stronger than at any point since 2000. I’ll repeat that if one associates historically “normal” equity returns with Treasury bill yields of about 4%, the promise to hold short-term interest rates at zero for 3-4 years only “justifies” equity valuations 12-16% above historical norms. Again, at more than double those historical norms, current equity valuations provide no margin of safety for long-term investors. To put some full-cycle perspective around present valuations, understand that 1929 and 2000 are the only historical references to similar extremes. Moreover, aside from the 2000-2002 bear market (which ended at fairly elevated valuations but still allowed us to shift to a constructive outlook in early 2003), no bear market in history—including 2009—ended with prospective 10-year returns less than 8% (See “Ockham’s Razor and the Market Cycle” to review the arithmetic of these estimates). This was true even in historical periods when short- and long-term interest rates were similar to current levels. Currently, such an improvement in prospective equity returns would require a move to about 1,200 on the S&P 500, which we would view as a fairly pedestrian completion of the current market cycle—certainly not an outlier from the standpoint of historical experience. Major secular valuation lows like 1949, 1974, and 1982 pushed stocks to valuations consistent with prospective 10-year returns over 18% annually, and dragged the S&P 500 price/revenue ratio to about 0.40, and the ratio of market capitalization/GDP to about 0.33. At present, a secular valuation low would require “S&P 500” to be not only an index but a price target—though one that would also make a rather satisfying megaphone pattern out of the past 15 years of market action. Such an outcome only seems preposterous if one ignores the cyclicality of profit margins and assumes they have established a permanently high plateau. In any event, with the current price/revenue ratio at 1.80 and market cap/GDP at 1.33, the notion that stocks are in the early phase of a secular bull market (as some Wall Street analysts have suggested) can only reflect a complete ignorance of the historical record. The Line Between Rational Speculation and Market Collapse However—and this is really where the experience of the past few years and our research-based adaptations come into play—there are some conditions that historically appear capable of supporting what might be called “rational speculation” even in a severely overvalued market. Depending on the level of overvaluation, a safety net might be required in any event, and that would certainly be the case if those conditions were to re-emerge here. But following my 2009 insistence on stress-testing our methods against Depression-era data, and the terribly awkward transition that we experienced until we nailed down these distinctions in our present methods, the central lesson is worth repeating: Neither our stress-testing against Depression-era data, nor the adaptations we’ve made in response extreme yield-seeking speculation, do anything to diminish our conviction that historically reliable valuation measures are of immense importance to investors. Rather, the lessons to be drawn have to do with the criteria that distinguish periods where valuations have little near-term impact from periods where they suddenly matter with a vengeance. I detailed these lessons in my June 16, 2014 comment—“Formula for Market Extremes” (see the section titled Lessons from the Recent Half Cycle). That’s really the point at which we were finally able to put a box around this awkward transition and view it as fully addressed. See also “Air Pockets, Free Falls, and Crashes,” “A Most Important Distinction,” and “Hard-Won Lessons and the Bird in the Hand.” Historically, the emergence of extremely overvalued, overbought, overbullish conditions has typically been followed by an “unpleasant skew”—a succession of small but persistent marginal new highs, followed by a vertical collapse in which weeks or months of gains are wiped out in a handful of sessions. In prior market cycles, more often than not, periods of extremely overextended conditions were also already accompanied by a subtle deterioration in market internals or widening credit spreads. In recent years, the persistent yield-seeking speculation encouraged by quantitative easing has weakened the overlap between these two conditions. That is, we’ve had repeated periods of severely overvalued, overbought, overbullish conditions, but they often have not been accompanied by internal deterioration or widening credit spreads. In those periods, stocks were generally resilient to significant losses. In contrast—even since 2009—periods that have joined 1) overvalued, overbought, overbullish conditions with 2) deteriorating internals or widening credit spreads have been responsible for nearly stairstep market losses. During the tech bubble, we introduced considerations related to market internals (what I often called “trend uniformity”) as an overlay to our value-driven models. So our pre-2009 method of classifying market return/risk profiles had this distinction hard-wired into it. The ensemble methods that came out of our 2009-2010 stress-testing efforts were more effective in market cycles across history—including Depression-era data—but while they included trend-sensitive measures, they didn’t impose them as an overlay. The basic narrative of the transition from those pre-2009 methods to our present ones boils down to 1) our self-inflicted stress testing miss, and 2) the need to re-introduce those overlays (albeit in a somewhat different form) to make our methods more tolerant of speculative bubbles. We certainly learned all of this the hard way, and my hope is that others will draw some benefit from that experience. Unfortunately, my sense is that many have learned entirely the wrong lesson, and are just as vulnerable to the next crash as they were to the other two collapses in recent memory. You can see the effect of imposing those overlays in the narrowing of conditions under which we view a hard-negative outlook as appropriate. See last week’s comment, “Iceberg at the Starboard Bow,” for a chart of the cumulative performance of the S&P 500 across history in periods restricted to the conditions we presently observe. Now, if we do observe an improvement in market internals and credit spreads, it would not make valuations any less obscene, but it would significantly ease our immediate concerns about market losses. A safety net would be required in any event, but there is a range of possible outlooks between hard-negative and constructive with a safety net. I suspect that the range of variation in our investment outlook is likely to be very confusing in the coming years to those who have swallowed the hook that I’m a permabear, because our present methods would have encouraged an unhedged, leveraged investment stance through about 62% of history (including over 20% of recent cycle—though at no time in the past three years). That’s exactly what I encouraged for years following the 1990 bear market—a leveraged stance. Those who’ve followed my work over the long term should recognize that the framework I’ve presented helps to understand both my major successes and my periodic failures—exasperating during bubbles, but ultimately vindicated—through decades in the financial markets. This isn’t an accident, because it also helps to understand the bubbles and crashes of the equity market itself in market cycles across a century of history. What this framework requires, primarily, is the ability to withstand the cognitive dissonance of markets that are outrageously overvalued or undervalued, but persist until subtle deterioration or improvement in observable market internals and credit spreads indicates a shift in investor risk preferences. Again, we completed the transition from our pre-2009 method to our present method of classifying market return/risk profiles in June. The resulting adaptations are robust to market cycles across history, including the Depression, including recent bubbles and crashes, and including the current cycle. With these adaptations in place, nothing in recent years leaves us concerned that we would be unable to navigate a long continuation of the recent bull market (unlikely as we might view that outcome). We don’t need to hope for a market collapse, nor dread the possibility of a further advance. Our primary goal is simply to maintain a historically informed discipline and align our outlook consistently as market conditions change. At present, the fact that we are highly concerned about market risk is a reflection of a market environment that joins extremely overvalued, overbought, overbullish conditions with still-troubling dispersion in market internals and a widening of credit spreads. That will change. In short, our concerns about market risk remain extreme at present, and will shift considerably as the evidence changes.last_img read more

Recommended Link

first_imgRecommended Link Recommended Link Watch now Click here to for the latest update — Transfer the funds you’ve set aside for crypto to the exchange and buy bitcoin. Justin’s note: Today, we have a big-picture update on the crypto market from Casey Research’s in-house crypto specialist, Marco Wutzer. Below, Marco shows us why the blockchain and cryptos are still going to create a huge amount of wealth for smart speculators… why the next bull market will be more powerful than the last… and how you can start profiting today. By Marco Wutzer, senior analyst, Disruptive ProfitsEight seconds.That’s how long you have to grab someone’s attention before they mentally drift off to the next thing. That’s one second less than a goldfish.Thanks to constant interruptions by smartphones and multitasking, our attention spans are getting shorter all the time.This is also reflected in absurd investor behavior…Over the last five decades, the average holding period for a stock has steadily declined. It’s fallen from eight years to a mere four months since the 1960s. You can see this in the chart below:I wouldn’t be surprised if that average is even shorter in the fast-paced, 24/7 crypto market.Why am I telling you this?Put simply, if you want to be a successful crypto speculator, you need to take a long-term view. Download and install a crypto wallet. Exodus is my personal favorite. — Will Donald Trump Be Your Last President?…A major political coup is unfolding in America that will topple Donald Trump’s presidency… Only those who prepare will be able to live in peace in a new socialist America. In this video, we lay out the simple steps you can take right now to protect your assets but survive the next recession…center_img The Future Takes Time to BuildThe internet took 30 years to become mainstream. Blockchain technology is barely 10 years old and has only received serious attention for the last three years or so.Rewiring the global financial system and the larger economy takes a long time. Still, the Blockchain Ecosystem is developing fast. And it’s spreading like a virus.Eventually, it will take over all the aspects of our daily lives in which it makes sense to use a trust-minimized system.You see, nature is trending towards higher orders of complexity.In short, blockchain technology is peer-to-peer, immutable, and censorship-resistant. This enables us to build a freer, more complex society outside the limitations of nation-states.Building the future takes time. It’ll be another three to five years or so until cryptocurrencies reach mass adoption.But luckily, we don’t have to wait for this to fully play out to profit as speculators.That’s because markets move in cycles. Each cycle brings in a new wave of cryptocurrency adopters.I deal with the Blockchain Ecosystem on a daily basis. So it’s easy for me to forget that there are billions of people on this planet that have never even heard of blockchain technology.I was reminded of this recently at Doug Casey’s estancia in Uruguay. We were having dinner with a cosmopolitan, affluent Uruguayan couple.She is a lawyer and real estate broker, and he is retired with a background in many business ventures, including being a stock broker at one time.In other words, they’re wealthy, educated people who travel the world… not local, isolated farmers.When Doug asked them what they think about cryptocurrencies, it turned out they had never even heard about bitcoin.This goes to show that we still have a very long way to go. Most of the growth is still ahead of us. Transfer a small amount of bitcoin – the equivalent of a few dollars – to your crypto wallet. Open an account with an exchange where you can trade your fiat currencies to crypto. (I recommend itBit or Bitstamp to my Disruptive Profits subscribers.) Congratulations!You’re now part of the still small and exclusive club of crypto pioneers… And you’ll be ready to take advantage of the next bull market when it kicks off.To disruptive profits,Marco Wutzer Senior Analyst, Disruptive ProfitsJustin’s note: Once you’ve got some bitcoin, you can start speculating on the future of blockchain technology… the plays that will mint a new generation of millionaires.Marco is on top of all of the most exclusive developments in this space. Go here to check out how to get access to his best picks.Reader MailbagAre you buying bitcoin today? Do you think that digital currencies are a big money-making opportunity right now? Share your thoughts at feedback@caseyresearch.com.You’re Invited…To spend time with your favorite investing masterminds in southern California… the only time this year that all of Casey Research’s gurus will be together on one stage…And as a Dispatch reader, you’ve got an exclusive invitation to join us at the second annual Legacy Investment Summit on September 23-25.Join the smartest minds in finance – like the legendary Doug Casey, former hedge fund manager Teeka Tiwari, master trader Jeff Clark, and angel investor Jeff Brown – for their exclusive, in-person insights.And for a limited time, you can secure your tickets for hundreds less than everyone else will pay… Make sure you back up your recovery phrase so you can restore your wallet if something goes wrong. (Think of the recovery phrase as your password.) 5-Billion-Year-Old Bacteria Unlocks the Way to Beat Cancer at the Genetic LevelIt’s hard to fathom a bacteria from the dawn of Earth holding the key to curing cancer, but then again, it is the starting point of all known life… and these 3 companies hold all the key patents to this bacterial breakthrough. Superior Solutions, Growing AwarenessA crypto seed was planted in the Uruguayan couple’s heads that evening.They might not investigate the topic much further right away… But two more people on the planet are now aware that cryptocurrencies exist and offer superior solutions to many problems.Think about that for a moment. Variations of this conversation play out thousands of times a day across the globe.That’s why from 2015 to the end of last year, the number of people who use blockchain wallets grew over 900%.That means almost 29 million more people use blockchain wallets today than just four years ago.No matter if we are in a bull or bear market, the crypto meme is spreading and reaching more people.Even during the current bear market, more people learn about blockchain technology every day. The couple Doug and I talked to in Uruguay is a case in point.When the market eventually turns bullish again, this growing pool of new adopters will be ready to participate in the new world of the Blockchain Ecosystem for the very first time.That means that when the next bull market starts, the network effects will be even stronger than the last time.And where will new adopters go for their first dive into crypto? They’ll buy the most well-known cryptocurrency… the reserve of the crypto world – bitcoin.That’s why, whether you’re buying bitcoin for the first time or already own some, now is a great time to buy.How to Start Profiting If this is your first time buying a cryptocurrency, I recommend the following: Once you’re familiar with the process and have made sure everything works the way it should, transfer the rest of your funds to your crypto wallet.last_img read more