Let's start off with Under Armour Inc. (NYSE:UA). This company, located in Baltimore, is making some serious moves into the social media heath-fitness app market. Kevin Plank, who is the founder and chairman, just paid $560 million, an astronomical amount of money or so it would seem for two fitness apps.
MyFitnessPal has more than 80 million registered users and UA has called it "the leading free resource" for providing calorie-and-workout-related data. UA is paying $475 million to acquire the service.
"Gamblers always die broke, young man," whispered the grizzled, old casino lizard at the Blackjack table as I gathered my meager winnings.
It wasn't very nice to hear: A recent college graduate, I had just earned a small sum during my first visit to a casino. But that advice ended up being among the wisest and most foresightful I have ever heard.
Soon after I met the old man, I read comments from billionaire casino owner Steve Wynn: "The only way to win in the casino is to own one." His words still resonate with me.
I thought to myself "Money lessons come from the most unexpected places." Here was a successful casino owner and a hard-core gambler essentially giving the same advice -- don't gamble and remember that the only way to win is to own the casino. I have never had interest in casino games since. Continue reading "Don't Gamble, Own the Casino Instead"→
It's Friday, and it's the end of the month... what a month it has been. Huge moves in crude oil, gold, stocks and other markets have put a lot of money into trader's pockets during the month of May.
As a reader of this blog, you know how we stress the importance of education and learning how the markets really work. That is why I am truly excited to share with you these new educational trading videos from my former exchange that is now called the CME Group.