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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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News Analysis for the Investor on November 1, 2013

 HealthCare.gov problems highlighted by facts.  Cable companies beginning to lose customers.  Wal-mart starts the holiday shopping season and a Texas man is jailed for an overdue book.

| BY Catherine McBreen

 

HealthCare.gov signs up 6 people

On the first day of Obamacare, 6 people were able to sign up, according to CNBC.  Notes from the Center for Consumer Information and Insurance Oversight meetings on October 2nd indicate that the direct enrollment through the site was not working during the first two days.  By October 3rd, 248 enrollments had been processed.  HHS Secretary Kathleen Sebelius has said that they cannot release additional enrollment figures until mid-November due to challenges with the data generated by the system.

 

Cable providers losing customers

The top two cable providers, Comcast and Time Warner Cable, lost 435,000 video customers in the past quarter while AT&T and Verizon added 400,000.  According to the Wall Street Journal, the growth of telecom’s share of the TV market could have a significant long-term impact.  Both AT&T and Verizon have shown a greater willingness to deliver movies and TV programs over the Internet and outside of the typical pay-TV bundle.  The changing market has had an impact on the earnings of both Time Warner Cable and Comcast.  Both cable operators attributed weaker performance to the telephone competition.

 

Wal-mart kicks off holiday deals online

The world’s largest retailer is beginning the holiday shopping season early…..tonight.  At midnight Wal-mart will begin pushing 300 holiday deals on its website from toys to home décor.  According to the Associated Press, the items will be available as long as supplies last.  The move comes as Wal-Mart, like other retailers, has seen customers scale back purchases heading into the holiday shopping season.  The holiday shopping season accounts for 20 to 40 percent of retailers’ annual revenue.  Wal-mart has doubled the amount of products it offers online to 5 million.  It is also offering free shipping for orders of more than $50.

 

Lack of growth in Europe sparks fears

Consumer prices in the euro zone are rising at the slowest pace since the depths of the economic crisis.  The Wall Street Journal reports that October’s inflation rate pulled back sharply to 0.7 percent from 1.1 percent in September, marking the lowest level in four years.  The European Central Bank’s target is 2 percent and the low inflation rate is putting pressure on the Bank to raise interest rates.  When inflation is close to zero, companies, households, and governments have a harder time cutting their debt loads. 

 

Fannie Mae sues 9 banks over Libor losses

Fannie Mae sued nine major banks on Thursday for allegedly causing the mortgage finance giant at least $800 million in losses by rigging a financial benchmark used to set rates on trillions of dollars of mortgages, credit cards, loans and financial derivatives.  According to USA Today, the lawsuit targets US banks JP Morgan Chase, Bank of America, and Citigroup, along with global banks Barclays, UBS, Royal Bank of Scotland, Deutsche Bank, Credit Suisse and Rabobank.  The banks declined to comment on the lawsuit.  Libor rates are set each weekday morning based on what global banks operating in London say they would expect to pay for short-term loans from each other.  UBS, Royal Bank of Scotland, Barclays and Rabobank have previously acknowledged wrongdoing in the Libor scandal and have agreed to pay more than $3 billion in settlements.

 

Texas man jailed for overdue library book

Jory Enck of Copperas Cove, Texas was arrested on October 23rd on an outstanding warrant for failure to return a library book that he checked out in 2010.  Fox News reports that he was released on a $200 bond and given a court date, in accordance with a local ordinance.  The law was passed four years ago and is intended to offset the cost of replacing library materials.  A person who has an overdue book checked out for at least 90 days and is not responding to phone calls or emails could be subject to arrest.  Librarians are getting tougher.



About the Author


Catherine McBreen



Catherine S. McBreen is President of Millionaire Corner.  McBreen plans and develops content for Millionaire Corner.  Catherine balances editorial content to meet the informational needs of both new and seasoned investors.  She designs special monthly surveys on topical issues affecting the economic environment.

McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law.  She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.

Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences.  She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth.  Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.

McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)

Catherine is the mother of four and is involved in many school and community events.