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The Independent Investor: Pay Gap for Women Is Growing
By Bill Schmick,
07:22PM / Thursday, January 17, 2019
If Citigroup, one of the world's largest banks, is any indication, women earn 29 percent less than their male counterparts. It also revealed that only 37 percent of its managerial jobs were held by females.   Wall Street has long been known as "the last bastion" for white males. But to Citigroup's credit, it just made public its internal assessment of the existing pay gap between the genders. One reason it did so was the new disclosure standards that are now required in the United Kingdom since last April.   Last year, when Citigroup first reported these numbers for its U.K. workforce, women were paid 44 percent less, and if bonuses were

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@theMarket: Markets Bounce 10 Percent Since Christmas
By Bill Schmick,
10:34AM / Saturday, January 12, 2019
The stock markets have gained almost one percent per day since the beginning of the year. If you had panicked and sold during the Christmas holidays, you are sitting in cash wondering when to get back in. Here is some advice.   Patience should be at the top of your "to-do" list. If you believe we are in a bear market, then the kind of rebound we are seeing in the equity markets is completely normal. Bear markets are characterized by waterfall declines followed by sharp, explosive upside rallies. Unfortunately, these fantastic trading opportunities are just that — trades.   If you are not living the markets every single moment, day-in, day-out,

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The Independent Investor: Changes to Social Security and Medicare Benefits
By Bill Schmick,
04:03PM / Thursday, January 10, 2019
As the year begins, those who are retired, or who plan to soon, need to know the changes the government has recently announced to your benefits.   The good news is that retirees will get a 2.8 percent increase in Social Security payments. While that doesn't sound like much, it happens to be the largest cost-of-living adjustment in seven years. What that amounts to for the average couple in retirement is about $67 per month, or an average monthly payment of $2,448.   If you are one of those workers like me, who waited until 70 years of age before collecting benefits and are considered a "high earner," then you will be receiving as much as $73 more

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@theMarket: The Trump Dump
By Bill Schmick,
09:52AM / Saturday, December 22, 2018
The sell-off in stocks has now exceeded the 2016 decline. Investor sentiment is as low as it has been since May of that year. The Fed refuses to save us, and Donald Trump insists on his wall or he will lay off thousands of federal workers. Did I say Merry Christmas?   The reasons for this rout are well-known by now. The latest disappointment was on Wednesday when, contrary to investor's expectations, the Fed stood firm in their quantitative tightening agenda. For a more in-depth view of the reasons for their stance, please read my Thursday column "The Fed Stands Tall."   The markets expressed their unhappiness by declining 1.5 percent in the last

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The Independent Investor: The Fed Stands Tall
By Bill Schmick,
06:25PM / Thursday, December 20, 2018
Sometimes it takes a while, but financial markets almost always test a new incoming Federal Reserve Bank chairman. On Wednesday, Jerome Powell faced his test and passed with flying colors. Of course, a glance at the stock market averages at the end of the day on Wednesday would have the casual observers scratching their heads.   As most readers know, the stock market has been declining since October. One of the reasons for the sell-off is the fear that the Federal Reserve Bank's gradual tightening policies have gone too far. Their continuous interest rate hikes coupled with the selling of $50 billion of U.S. Treasury bonds every month had started to reduce the excess

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