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Index based investment using a company’s total stock market value is a great concept and indexes such as the S&P 500 generally provide solid low cost diversification.

Unfortunately, Wall Street has now applied this concept to “sectors” of the stock market without adjusting for the size of individual companies.  This is not only exposing investors to added risk due to poor diversification yet also handicapping newer smaller companies on which the future economy is dependent.

Let’s take a look at the two largest holdings in the MSCI Health Care Sector Index.  An index used by more than 97 percent of all large fund managers.

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Doris is 85 and suffers from moisture build up in her eye, what some call wet eye.   She is on Medicare and gets treated with Eylea, a Regeneron product, every 4-5 weeks.  Each treatment costing $6,200.   That is more than $70,000 per year even though Doris never made more than $40,000 while working.   Her total out of pocket cost is $10.29 per treatment.

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    Senator McConnell’s Dilemma:   To Serve Patients or Investors?

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When evaluating health care investments it is important to analyze the structure of leading drug and medical equipment companies.  A close look indeed reveals a derivative driven system in which private equity and hedge funds increase demand for drug payments by purchasing the rights to the cash flows from key drugs.  Patients are indeed unaware that many of the drugs they consume are now owned in part by private equity investors.

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Trump Mercer Simons Koskinen Bharara

See Latest Post on Nov 27 For Significant Updates After Release of the “Paradise Papers” – Access Via Blog Search for   Trump Patron

President Trump’s most significant backer, Robert Mercer (CEO of the giant hedge fund Renaissance Technologies), is Deutsche Bank’s largest customer.   Deutsche Bank is indeed also President Trump’s and Jared Kushner’s largest lender.  One phone call from Mercer and either should be able to refinance or gain a new loan, as both did in 2016.

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by Jeff Manning, The Oregonian

Corporate Oregon’s declining contribution is due at least in part to what Portland investment adviser Bill Parish called “the explosion of accounting gimmicks and tax schemes” that corporations use to manipulate their bottom lines and dodge taxes.
“Measure 97 is a beautiful tax because by taxing gross sales above $25 million it ensures taxes will be collected,” Parish said.

Read full story here:  How Measure 97 might affect Oregon businesses

 

by, Joseph Tanfani and Evan Halper, Los Angeles Times

“When it comes to money, they’re all on the same page,” said Bill Parish, an Oregon investment advisor who blogs about tax policy.

Read full story here:  Renaissance Technologies execs team up to conquer Wall Street

In 2010 the Supreme Court ruled in favor of Citizens United, opening the door for unlimited political contributions, essentially turning major political races over to billionaires.  Republicans and Democrats now openly agree this has had a major impact on the political process.

Billionaire Donald Trump himself has openly criticized this decision, calling it a disaster for Democracy.   During the campaign he has also called opponents, including Marco Rubio and Ted Cruz ,”puppets for their billionaire donors.”  Trump is self funding his campaign.

Parish & Company reviews candidates financial information for various news organizations and this post looks at the Donald J Trump foundation.  The purpose is not to criticize Mr. Trump but rather articulate key dynamics for these journalists.

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