This Is The City Breeding The Most Millionaires And Billionaires Today

New York is no longer the city with the biggest super-rich population. Hong Kong overtook the Big Apple to become the top destination for the planet’s wealthiest people last year, according to a study published Thursday by research firm Wealth-X. The number of ultra-high-net-worth individuals residing in the Asian financial hub rose by almost a third in 2017 to 10,000, the study said. Wealth-X…

Investors Shouldn’t Waste Time Worrying About The Trade War

So says Darius Dale, managing director at Hedgeye Risk Management. “The only thing that the markets really care about is the rate of change in things like growth, inflation and profits,” he told MM on Wednesday. The United States and China have imposed tariffs on more than $50 billion of each other’s goods, and are threatening a lot more. US tariffs on another $200…

Can Emerging Markets Bring Down Wall Street?

Chinese stocks are is in a bear market. Turkey’s currency has collapsed. South Africa has stumbled into a recession. Not even an IMF bailout has stemmed the bleeding in Argentina. The storm rocking emerging markets has its origins in Washington. Vulnerable currencies plunged as the US Federal Reserve steadily raised interest rates. And President Donald Trump’s trade crackdown added gasoline to the fire. The trouble…

LeBron James Disses Kobe Bryant During Award Speech

New Laker LeBron James took a subtle dig at Lakers legend Kobe Bryant while accepting an award. Way back in 2012, Drake caused a stir by suggesting Bryant’s then-estranged wife, Vanessa, didn’t deserve half of Kobe’s money if they split, rapping on Rick Ross’ “Stay Schemin’ ”: “Bitch, you wasn’t with me shootin’ in the gym.” Vanessa even responded, saying; “I don’t need to be…

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