2 June 2018
Question: According to MSN, what are the 50 most common regrets people have in their 50s?
Global markets rally as US jobs rise calms volatile trading week – Pg. 1
- Global markets rallied yesterday as a robust increase in US employment helped calm a week of volatile trading triggered by renewed fear of a transatlantic trade war and political instability in Europe
- The US economy reached its lowest unemployment rate in 18 years….
Renminbi resilience lets central bank loosen grip – Pg. 11
- With emerging markets currencies in turmoil, China’s renminbi has been a bastion of strength
- Despite the People’s Bank of China’s loosening of the renminbi’s peg to the dollar, the currency tracks the greenback’s movements more closely than other emerging market currencies
- Trade-weighted strength explains why the People’s Bank of China has maintained a hands-off approach this year
- The first pressure is China’s deteriorating current account, where a $28bn deficit in the first quarter was the first since 2001. A current account deficit indicates that trade is creating net outflows of foreign exchange
- While a full-year deficit is unlikely, the OECD forecasts a surplus of 0.9% of GDP this year, which would be the smallest since 1995
- Second, the yield gap between renminbi and dollar assets has narrowed substantially this year, as subtle easing moves by the PBoC have contrasted with Fed policy tightening.
- While China capital controls had historically made cross-border carry trades – in which investors seek to profit from interest-rate differentials – difficult, this yield gap had shown high correlation with the renminbi’s exchange rate against the dollar, …
- Lower interest rates in renminbi relative to other currencies tend to make China’s currency less attractive, as capital flows to where returns are highest
- With China’s capital markets more open to foreign investment, such correlation should only increase
Answer: (1) Ending relationships with people you loved; (2) Not being adventurous enough; (3) Wasting time hating your body; (4) Trying to live up to your parents’ expectations; (5) Not eating healthier (Prof Note: After securing your financial future, you want to enjoy it! I remember disembarking to Antarctica and an older woman was sobbing as the crew would not allow her on the zodiac as she was too infirmed. She had saved all her life only to not be able to realize her dream. She literally could see the continent!); (6) Taking life too seriously; (7) Not traveling more (Prof Note: Traveling opens one mind and ones heart! There are good/great people everywhere! I remember an evening spent in Cairo with the mother of a former student. She was a professor of Islamic culture in Egypt. I wish everyone could spend an evening with her. While I always respected Islam, I saw the wisdom and beauty through her eyes and those of her family); (8) Holding onto grudges (Prof Note: Respected peers disagree with me but I feel, in many cases, we are far to forgiving. Somethings, especially acts as an adult with knowledge, should not be forgotten and/or forgiven); (9) Not standing up for yourself; (10) Worrying about other people’s opinions (Prof Note: Life is too short…live the dream!); (11) Prioritizing practicality over fun; (12) Not attending to your health; (13) Quitting school; (14) Not accomplishing more; (15) Working too much (Prof Note: Ask yourself, if revenue were hit, would the company/employer fight to keep me? If the answer is “no”, think hard about your commitment); (16) Not telling people you love them (Prof Note: I need to express my high opinion of peers, friends, and colleagues more often. I admire people that do this more and it is so meaningful to hear!); (17) Ignoring your instincts (Prof Note: Always go with your gut, how often is it actually wrong?); (18) Being an inattentive partner; (19) Not taking vacations (Prof Note: Create memories and vacations are memories! Trust me, if you pass (and I hope you do not) your job will get done!); (20) Getting divorced; (21) Letting friendships fizzle out (Prof Note: I am working harder and harder to maintain the wonderful gaggle of friends…life is too short!); (22) Missing out on the little moments; (23) Not saving more (Prof Note: I ask people ALL the time that are successful in retirements if they saved too much. I have never heard the answer, “yes”); (24) Not trying to land that dream job (Prof Note: You miss 100.0% of the opportunities not sought); (25) Being unkind (Prof Note: I am working harder and harder on kindness and basically doing the right thing.) (26) Not doing more for others (Prof Note: Acts of kindness are rewarded handsomely); (27) Not seeing someone before they died (Prof Note: Julian J pushed me to see the Great Bill Hudnut more as he was waning. Julian was right and some of the best memories I have with Bill are during his past few months. I loved Bill’s sense of humour and the fact that well into his eighties, he loved the ladies! J); (28) Not appreciating your youth; (29) Not being more romantic; (30) Muting your real personality (Prof Note: One of my expressions about wealth; the absence of wealth requires one to be the person they must be, the existence of wealth allows one to be the person they want to be!); (31) Not spending more time with your kids; (32) Missing out on investment opportunities; (33) Not admitting your feelings for someone (Prof Note: I love all of you!!! Love the comments! Love the bandy of ideas! Love when you share your successes!!!); (34) Being ungrateful; (35) Not asking that person out; (36) Setting aside your passions (Prof Note: If you are passionate, why are you doing it?); (37) Not being more present; (38) Not appreciating your body (Prof Note: Yes, I truly am “HOT”!); (39) Spending too much time worrying; (40) Being inattentive to your kids; (41) Not getting to know people better (Prof Note: True wealth is relationships. Just two months ago Mike A and Laurie were on Nevis with evenings spent on the patio, under the stars, conversing. Those are the best of times!); (42) Letting the passion die; (43) Not standing up for other people (Prof Note: Never had this problem, even when it harms me personally; however, it is about doing the right thing!); (44) Spending too little time with your parents; (45) Acting your age; (46) Forcing your opinions on your children; (47) Not being more spontaneous; (48) Not apologizing more; (49) Ignoring your personal happiness; (50) Not leaving a legacy (Prof Note: While a legacy is different for different people, I am blessed with the legacy my grandfather left me on Nevis!)