IP Groups £500m approach rebuffed by Touchstone Innovations
A top #isef2017 winner figured out how to track space junk and won $50K.
Nationwide profits slump amid rock bottom interest rates
Noble Group shares plunge after further helping of bad news 
Greencore shares jump as Peacock buy boosts figures
Its not this price crash that haunts the sugar industry. Its the fear of worse to come
Eight-year-old Saffie Roussos among Manchester bombing victims
Here are Top30 #InsurTech influencers according to @ipfconline1. #FinTech
Border shopping complex set to open in July – two years late
Haitians workers fight for higher minimum wage suppressed by Clintons State Department
Now I get it: Ransomware @Pogue
Deadliest Catch cameras captured Alaskans addiction -- and inspired him to get sober
Extra armed police to be deployed at top sports venues after Manchester blast
NEA funding cuts mean more than starving artists in American countryside
La Commission européenne à mi-mandat via @EurActiv_FR
Opinion: President Pence is a fantasy now playing in many Republican heads
Betsy DeVos: School choice opponents are flat-earthers
Tesla gets partial credit from Consumer Reports for auto braking
Editorial: How to end Canada’s biggest public health emergency @GlobeDebate
Merkel to confront climate-change doubters among G-20 peers via @bparkx
Bill Dudley visits a heterodox economics class.
One of the advantages of women in board mtgs? There is less bullsh... says BloombergChairman Peter Grauer #wfs2017
How an Afghan refugee is fighting Greeces far-right
Fire Burns Down 17 Walvis Shacks: #Namibia
A fluke dinosaur tooth find could help us understand the history of North America
There is little to lament in the loss of PWR BTTM.
Is #Healthcare ‘the Military Industrial Complex of the 21st century’?
Carl Mydans, Kitchen in the Ozarks- Missouri, May 1936.
Massive tunnels in South America are likely the work of long-extinct giant mammals:
Today in #TheLabReport: Slashing the safety net, and more
One killed as protesters and police clash in Bahrain
RIP Roger Moore. The best Bond ever!
Islamic State claims responsibility for Manchester concert attack
Is a wave election forming for Democrats?
U.S. plan to sell oil reserve shows declining import needs
Elderly couple’s dead bodies eaten by pet dogs in #Mallorca #Lead #Mallorca
plans to strengthen network, raise new funds next year
Intel chief wont comment on whether Trump asked him to deny Russia investigation evidence
An MF Global/Corzine Story You Have Not Heard $
#EuropaLeague: Ajax youngsters look to upset more experienced Manchester United
Munich police crack gang behind up to fifth of all German burglaries
Is Cyril Hanouna the most unpleasant person on French television?
Police raid Daimler offices nationwide in emissions fraud probe
Brody Leven on finding solace among the challenges
Curses! Todays editorial cartoon by David Parkins. More cartoons: From @GlobeDebate
Protesters target MSNBC headquarters to support Lawrence ODonnell
You can buy a replica of Carl Sagans famous Pioneer Plaque
Ten Afghan soldiers killed in Kandahar army base attack
French VW probe identifies 22.78 billion euros in diesel sales: paper
Unstable #Venezuela Has 5,000 Russian Missiles, And They Could End Up in the Wrong Hands
. @ArianaGrande: the anodyne teen favourite hit by bombing tragedy
Solar-Friendly Florida Utility Hammers Trump On Coal Policy
You can send ThinkProgress information and tips securely on WhatsApp
Police raid Daimler offices nationwide in emissions fraud probe.
New Home Sales decrease to 569,000 Annual Rate in April
Charlene Barshefsky, America’s top trade negotiator in 2001 talks about China today
Canadas North West Mounted Police was established by Queen Victoria on 23 May 1873.
Happy world trade week!
Where you can make the most money renting your stuff @melodyhahm
This cant be shared enough. #gorsuch #SCOTUS
Inflatable Greenhouse From NASA Could Feed Astronauts on Mars - Via @CollectiveEvol -
Trumps education budget takes aim at the working class, @aliaemily reports
Experts say Trump’s speech deterioration is a clear sign of early dementia
JUST IN: Rubio is not optimistic about Trumps plan for Middle East peace
Renting out space in your home: Is the stress worth it?
Gay Men Publicly Caned in Indonesia
Portuguese minister: Southern cities better placed to host medicines agency
Live from the European Business Summit
House of Cards actress on Trump: I am shocked every morning
PETITION: Tell advertisers to boycott LBC until they sack Katie Hopkins #Manchester
U.S. new-home sales fall more than forecast via @mljamrisko
Sino-American Interests Aligning on N Korea, OBOR and the S China Sea @LinkedIn
Abigail Johnson of @Fidelity on the difficulties of using bitcoin. But not giving up. #consensus2017 @coindesk
US intel chief: No confirmation ISIS was behind Manchester attack
Five of the best installations to see at this years Clerkenwell Design Week:
ADB Sells $46 Million Green Bonds To Fund Renewable Energy Projects In India
lol
How concert venues keep fans safe
Seoul’s new High Line acts like a plant nursery for the rest of the city
.@Fidelitys Abby Johnson making pleas to #bitcoin community. Listen up #Consensus2017, heres your biggest advocate
Longest-serving James Bond star Roger Moore dies at 89
Still one of my favourite Twitter moments. RIP Roger Moore.
Are you middle class in Western Europe? Try our country-by-country income calculators
The 35 worst celebrity Photoshop fails of all time
Dem senator: Manchester attack shows importance of CIA and intel community
Manchester: This is the scene of the suspected attack–the worst on British soil since 2005
Threaten our way of life? The terrorists have barely made a dent
Alex Jones criticizes “liberal trendies” who were victims of the Manchester terror attack
Pensions Gone Wild! Chicago Teachers Pension Fund Paid Out $1.5 Billion in ’16, Earned…
Stocks of homebuilders tank on 11% mm drop in April sales $LEN $PHM $DHI $MHT $HOV $CAA
President Trump’s proposed budget seeks cuts to taxes, Medicaid, food stamps via @WSJ
#Indonesia: Aceh publicly shames couple for gay sex
Hackers unlock Samsung Galaxy S8 with fake iris
Canada’s prison agency closes in on new solitary confinement rules From @Nut_Graf
This is good news! Top trends for business as focus on #wellbeing gathers steam.
A VFX artist couple shot an amazing DIY fantasy film in their own home:
Federal Election Commissioner calls for expanded Trump-Russia investigation:
Bank of England Governor tricked by email prankster who conned Barclays boss Jes Staley
The UN Global Compact Cities Program for Sustainable Cities
Republicans in red states are panicked over upcoming elections — thanks to Donald Trump
Noble Group `fighting for its life as SP sees default risk
@PeopleinMind @30percentclubIE #30pcopenminds great agenda for today at BBH @SMTuffy
Former #JamesBond star Roger Moore dies aged 89
This is Fleet Week
62% of Americans now hold a favorable view of #NATO, up from just over half in 2016
Today! Dont miss our exclusive interview with PM @ComradeRalph streaming live on our FB!
South African Minister Grilled About Power Utility Heads Return #LynnBrown #BrianMolefe
Swiss National Bank pulling the plug on #NIRP. EuroSwiss monthly/weekly charts rolling over $ES1 Comdty $S_F $LU_F
Gas apocalypse looms amid a power plant construction boom
These new lenses could turn us all into tetrachromats — giving us super color vision:
In Home Capital’s mortgage mess, blame the ‘unlucky’ brokers #business
Sorry, but the Avocado Theory on why millennials are struggling is toast, writes @lloydalter
The Mick Mulvaney budget hits the Hill, @russellberman reports
So much for the Trump bump
CEOs of Target, ADM to square off on U.S. border tax at hearing
Trump budget asks for small fraction of funds needed for border wall
7. About half of people in Sweden support becoming a #NATO member
Cartoonists respond to the terror attack in #Manchester: w/ @vascogargalo @swahacartoons
Israel’s diverse religious landscape
Stuttgart prosecutors search Daimler offices in #dieselgate probe
How Google and Facebook drive internet traffic by topic
BREAKING: Fidelity CEO Talks Love For Bitcoin, Why Blockchain Will Change Markets
Is #Cybersecurity A Second Coming For #AI? #fintech @juliettesultan
1917: Mexico Faces Ruin as Strikes Spread
NEW POLL: Majority of voters disapprove of Trump decision to fire Comey
Rediscovered fossil suggests surprising origin for human ancestors From @ivansemeniuk
Join keynote speaker Craig Pirrong of @UHouston at FOW Trading Chicago this June
Roger Moore, the actor who held the James Bond role the longest, has died at 89
Germany is quietly building a European army.
#NATO Democrats more supportive of NATOas partisan gap widens
Lawrence O’Donnell’s Days at @MSNBC May be Numbered #tcot
The Nifty Inboard M1 Electric Skateboard
Apple and Nokia avoid court battle over patents
British combat airpower in the form of a Typhoon, Lightning and Tornado.
Mall troubles threaten a rite of passage: the teen job via @WSJ
Gay Couple Publicly Caned in Indonesia
Brazils latest political scandal is putting CEOs dreams in jeopardy
British James Bond actor Roger Moore has died, aged 89
The U.K. should publish a detailed list of Brexit priorities after the June vote, IoD says
Bank of England Governor, Mark Carney. Apparently is not up for the type of party I like to throw.
3. NATO solidarity is higher among people who consider Russia a major threat
#AI: When a robot AI doctor misdiagnoses you, whos to blame? — Quartz #News
Fox News employees disgusted after network pushes Seth Rich conspiracy
21 drivers arrested in Hong Kong in a fresh crackdown on Uber
Trump proposes selling off half the U.S. strategic oil reserve
BHP hires Barclays to divest U.S. shale gas assets: sources
LATEST: Former James Bond star Sir Roger Moore has died, his family says
#SouthAfricas rand firms on rumours that ANC to discuss Zumas removal
Blood donor centres inundated with people helping any way they can after Manchester attack
The horror of an attack targeting young women and children, by @sophieGG
Zuma Banned from Speaking at South African Trade Unions Events #SouthAfrica
Three upcoming House elections will test whether Trump is hurting Republicans
Election paused after Manchester attack - @GaryGibbonBlog writes:
Business lessons anyone can learn, from the founder of Nike
EURUSD - get out while you still can!
Blood donor centres inundated with people helping any way they can after Manchester attack
James Bond actor Sir Roger Moore dies, aged 89
Get unlimited access to HBR’s best charts, infographics, and slide decks. Subscribe Now!
Majority of Americans oppose funding Trump’s border wall
Coffee Tim tams - true Aussie style at #consensus2017 @Austrade
This is the first all-female panel Ive moderated in my life - @schaeferdaniel at #wfs2017
Ready for Coachella
Zumas ousting will be raised at key ANC meeting, sources say
Matt Levines Money Stuff: Money Laundering and Quant Code
$EUR: market still an unbeliever in the European inflation story, seeing inflation 1% early 2018
Renegotiating Nafta might actually be a good idea
Greek debt deal is delayed as a 15-year extension fails to lure the IMF
N + E + W =
India plans to expand its drug regulator
Hoping for a Child Who Survives: #Sudan
A guide to $400 billion in Saudi-U.S. deals
Do you regret not saving enough for retirement? Youre not alone
G7 leaders expect Trump to make a decision on the Paris accord this week
Trump budget would cut $610 billion from Medicaid despite pledge not to touch program:
Trumps no help in recruiting Silicon Valley techies for U.S. work
Lululemon is in talks to fill Sephoras 5th avenue vacancy, sources say
OPEC set to prolong oil cuts as delegates predict smooth meeting
Paytm launches niche bank, to offer interest of 4 pct a year on savings accounts
Centrism takes on the extremes. @Noahpinion makes the case for neoliberalism via @BV
Stephen Colbert Mocks Trump with Side-by-Side Comparison to Obamas Scandals
Centrism takes on the extremes. @Noahpinion makes the case for neoliberalism via @BV
NICER: Launching Soon to the Space Station
Sir Roger Moores family says he had a short battle with cancer before his death aged 89
Really too young to drink. 2014 will need time. But this is classic Zingy puligny Montrachet village app.
Manchester Arena: Weve been inspired by the way the people of Manchester rallied round
Top Clinton aide: Trump adopted most of Putins foreign policy
Chinese backlash over US graduation speech, Cannes ‘flag’ dress
NEW: NATO’s Image Improves on Both Sides of Atlantic
NEW: NATO’s Image Improves on Both Sides of Atlantic
Tesla earns back some points from @ConsumerReports with its automatic emergency braking
America’s cities are running out of room via @business
Toyota CEO Sounds Ambivalent About EVs, But EV Plans Still On Track
#Manchester suicide bombing lays bare the limits of high security measures
Instagram rolled out a location Stories feature, just like Snapchat’s
Kenyan medics say US health aid cuts will mean more abortions
#UnitedStates New Home Sales at 569K
Top on #tiajobs today: Frontend Web Developer at BandLab
Caution pervades ahead of Polozs rate decision
White House affirms President Trump is in Jerusalem, Israel. (Tillerson be damned.)
Woman asked the City Council to ban the wearing of shorts in public, Fort Worth, Texas, May 1952.
Who are the victims of the Manchester terror attack?
GRAD missiles hit Kolosova street in Avdiivka. No casualties via @rechnikato
Tzanakopoulos says Greece can get clear deal at June Eurogroup
Greek stocks slide, yields spike after hopes for debt deal dashed
In the footsteps of Leonidas
Signs of unity across #Manchester today after last nights horrific attack. #ManchesterBombing
An Odd Symmetry: Argentina After Dark #NASA
North central Melbourne is becoming a test bed for smart, integrated transport
#UnitedStates Richmond @federalreserve Manufacturing Index at 1
Donald Trump’s Muslim tolerance only extends to tyrants.
Tipping point for Apple Pay as majority of UK tills accept limitless payments @telegraphtech
Mexicos staffing levels continue to fall in May. #SMI
#Fintech revolution will ‘create’ more #jobs than it cuts @StuartSFarquhar @TheScotsman
Russia’s hearts-and-minds campaign in Syria is aimed at Muslims at home.
Trump (accidentally) makes Corsica Italian again
Trump administration requests $1.6 million for bricks and mortar for border wall
Puligny Montrachet domaine bzikot village appellation. 2015. Young but sooooo ready to drink!
It was the best of times, it was the worst of times $
Toronto police invited to march in uniform in New York City pride parade
Topps Tiles shares on the slide after housing market hits profits
11 judges will soon decide the fate of a polarizing US agency
PPG boss still wants to negotiate AkzoNobel takeover despite three failed bids
BTFD FTW. While not obvious on the surface, these markets are very weird, says BofA.
@jeffreyatucker
The world’s most controversial element.
Mueller reviewed private Comey memos on Trump: report
Yorgos Lanthimos at Cannes: ‘The Killing of a Sacred Deer’
Stephen Colbert mocks Trump with side-by-side comparison to Obamas scandals
Smoke of the clashes near Avdiivka via @LuftGanza
More bubble talk as techs just keep charging ahead
African-American Caucus leader: Why was Maxine Waters speech cut off?
Pakistan spokesman on ICJ ruling in The Hague
Rouhani and Raisi supporters rally in Tehran
Pakistan reacts as 2 envoys freed by Afghanistan
Euro area nominal growth has peaked, but theres an issue with the metrics. cc @ClausVistesen
NASA replaces a critical computer on the ISS during emergency spacewalk
Former James Bond star Roger Moore dies after battle with cancer
Does biomedical research has a claims inflation problem?
Three restaurant companies stick out from all the others, this earnings season:
Converting parking spots into patios gains traction – but some cities are still lagging
#Hedgefunds - letters, conferences, profiles and more for Q1 2017 - updated frequently
The story of how N.Y.C. created modern tattoos
[no comment] Bullfighting Banderas hits the catwalk in Cannes
South Africas Zuma Questioned on Nkandla, Intelligence Report #SouthAfrica
RIP
Amnesty International: Qatar is still abusing World Cup workers.
Google AI beats Chinese master in ancient game of Go
Fantastic work by #Newsround. They should just take over the rolling coverage:
Mogherini: It is clearly an attack to the European youth
Badass with a sense of humor. RIP Mr. Moore


Safehaven
The 5 Costliest Financial Regulations of the Past 20 Years: A Timeline
4 days ago




The 5 Costliest Financial Regulations of the Past 20 Years: A Timeline

Last year, the Federal Register—the U.S. government’s depository of rules and regulations—hit an all-time high of 81,640 pages. Among the industries that bear the greatest regulatory oversight is financials, which has seen a disproportionate amount of scrutiny in recent years, especially following the 9/11 attacks and subprime mortgage crisis.

Although I agree with the need to have and play by the rules, financial regulations have become so onerous that they render all but the largest firms noncompetitive. It’s a game whose rules are continually shifting, and there often seems to be more referees than players. A recent Thomson Reuters survey found that more than a third of all financial firms spend at least a whole work day every week tracking and analyzing regulatory changes. This is an obligation most companies simply can’t afford in the long term.

It serves no one, least of all investors and borrowers, to have fewer options in the capital markets. But this is precisely what the most recent regulations have contributed to. In the last 20 years, the number of listed companies has been cut in half, and since 2008, one in four regional banks has disappeared.

President Donald Trump and the Republican-controlled Congress are actively working to alleviate any additional regulatory pressure. In January, the House passed a bill requiring securities officials to conduct a cost-benefit analysis of any new rule—something that should have been done in the first place—and in February the president signed an executive order requiring the elimination of two federal regulations for every new one that’s adopted.

As for when those that are already in place can be lifted, in whole or in part, is a different matter.

Having said that, I want to share with you a timeline of the five costliest financial regulations of the past 20 years. Please note that when I say “costly,” I’m referring not only to dollar figures but also additional workload and compliance hours.

October 2001: International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001



Passed in October 2001 as part of the USA PATRIOT Act, this particular act aims to prevent black money from being used to finance terrorist activities. It actually reforms two previous anti-money laundering (AML) laws, the Bank Secrecy Act of 1970 and the Money Laundering Control Act of 1986.

Although I think most of us would agree that catching terrorists is an admirable mission, the AML rules come at a very high cost to financial institutions. According to a 2016 study conducted by the Heritage Foundation, the current rules cost the U.S. economy between $4.8 billion and $8 billion annually. And with so few money laundering cases opened and investigated every year, each conviction since the law went into effect carries an estimated $7 million price tag.

Consequently, many banks, facing strict penalties and compliance costs, have cancelled thousands of “high-risk” accounts, including those belonging to money-transfer firms and humanitarian organizations.

July 2002: Sarbanes-Oxley Act of 2002 (SOX)



Enacted in July 2002, Sarbanes-Oxley, or SOX, was intended to prevent large-scale corporate and accounting fraud that led to the demise of Enron, WorldCom and others. It set in place new requirements for public companies.

The most burdensome of these is Section 404, which requires external auditors to report on the adequacy of a firm’s “internal controls.” Since such auditing is so complex and costly—sometimes quadruple the normal amount—many smaller companies have found it prohibitively difficult to raise capital in the public markets. Before SOX, there were an average 528 initial public offerings (IPOs) a year, according to Dealogic data. Since it was enacted, that number has fallen to 135, a decline of nearly 75 percent.

This has resulted in the rise of private capital and has locked retail investors out of high-growth investment opportunities.

Speaking to the Detroit Economic Club in 2013, Home Depot founder and former CEO Bernie Marcus said that, had SOX existed when he helped conceive the company in the late 1970s, he wouldn’t have been able to get it off the ground, let alone take it public. This would have been a shame, as Home Depot is now one of the largest employers in the U.S. and has among the highest market caps, standing at nearly $188 billion. A $5,000 investment in the company when it first IPOed in September 1981 would today be worth well over $27 million. In its current form, SOX threatens to put an end to such high-growth opportunities.

March 2010: Foreign Account Tax Compliance Act (FATCA)



Signed by then-President Barack Obama, the Foreign Account Tax Compliance Act (FATCA) allegedly aims to clamp down on tax evasion by requiring participating foreign financial institutions (FFIs) to provide the Internal Revenue Service (IRS) with names, addresses and account details of all American accountholders living abroad with assets over $50,000.

As I wrote back in 2014, the law’s mandates would be felt hardest “not by wealthy ‘fat cat’ tax dodgers but hardworking Americans who have no intentions of cheating the U.S. tax system.”

I’m not alone here. The IRS, of all groups, has come out on the side of taxpayers, writing in 2015 that “the IRS’s approach to FATCA implementation has created significant compliance burdens and risk exposures to a variety of impacted parties.” The rule’s underlying assumption, it says, is that “all such taxpayers should be suspected of fraudulent activity, unless proven otherwise.”

Until the law is reformed, the IRS adds, its efforts “will continue to be unsystematic, unjustified and unsuccessful.”

Many others apparently agree—especially those FATCA targets. The number of overseas individuals renouncing their U.S. citizenship crossed above 5,000 in 2016, an all-time high, with 2,300 expatriating in the final quarter alone.



July 2010: Dodd-Frank Wall Street Reform and Consumer Protection Act



The most sweeping reform of the U.S. financial services industry since the Great Depression, the Dodd-Frank Act was signed into law July 2010, creating some 400 new rules and mandates as well as several new councils, bureaus and agencies. Standing at more than 22,000 pages, Dodd-Frank is such a behemoth piece of legislation that it’s impossible to discuss it comprehensively in such a short space.

Suffice it to say, though, that since it went into effect, a startling number of community banks have gone under, giving borrowers fewer options. Lower-income customers are disproportionately at a loss, as many banks have done away with free checking.

Both former Federal Reserve Chair Alan Greenspan and billionaire investor Warren Buffett have suggested Dodd-Frank needs to go, with Greenspan saying he’d love to see the 2010 law “disappear.” Buffett, meanwhile, commented that the U.S. is “less well equipped to handle a financial crisis today than we were in 2008. Dodd-Frank has taken away the Federal Reserve’s ability to act in a crisis.”

Reforming Dodd-Frank is supposedly near the top of President Trump’s priorities, and a 600-page replacement called the Financial Choice Act 2.0 has already been drafted. If passed, the legislation would relax some of Dodd-Frank’s more restrictive rules and limit the powers of the Consumer Financial Protection Bureau (CFPB) and Securities and Exchange Commission (SEC). It would also roll back the so-called Volcker Rule, named for former Federal Reserve Chair Paul Volcker, which effectively bans banks from making speculative investments that don’t directly benefit their customers.

April 2016: Department of Labor (DOL) Fiduciary Rule



On its surface, the Department of Labor’s Fiduciary Rule sounds like something everyone can get behind. It mandates that all who serve as fiduciaries—broker-dealers, investment advisors, insurance agents and the like—must act in the best interest of their clients. Fine. But how the rule will be interpreted and applied could have negative consequences in the securities markets.

What’s naturally going to happen is financial professionals, in an effort to remain compliant with the rule, will recommend only the least expensive products, regardless of whether they’re a good fit for their clients. Many mutual funds—which might be better performing but have higher expenses than other investment vehicles—will fall off brokerage firms’ platforms.

It would be like the DOL telling consumers they can only shop at Walmart and buy their coffee from Dunkin’ Donuts because anything more expensive—Target or Starbucks, say—is “riskier,” even though it’s of higher quality.

Issued in April 2016, the rule was delayed for 60 days by the Trump administration and is now scheduled to go into effect early next month. It’s already had disruptive consequences. Investment Company Institute (ICI) President and CEO Paul Schott Stevens, speaking this month to ICI members, stated the rule was “causing great harm,” adding that brokers are “simply resigning from small accounts en masse” to avoid legal and regulatory risk.

It might be difficult for Trump and Congress to provide relief from these and other financial regulations—especially now that the multiple investigations into the Trump campaign threaten to sideline such efforts—but I still have faith.

By Frank Homes for Safehaven.com

 

Author: Frank Holmes

Frank E. Holmes
Chief Executive Officer
Chief Investment Officer
U.S. Global Investors

Frank Holmes

Frank Holmes is CEO and chief investment officer of U.S. Global Investors, Inc., which manages a diversified family of mutual funds and hedge funds specializing in natural resources, emerging markets and infrastructure.

The company's funds have earned more than two dozen Lipper Fund Awards and certificates since 2000. The Global Resources Fund (PSPFX) was Lipper's top-performing global natural resources fund in 2010. In 2009, the World Precious Minerals Fund (UNWPX) was Lipper's top-performing gold fund, the second time in four years for that achievement. In addition, both funds received 2007 and 2008 Lipper Fund Awards as the best overall funds in their respective categories.

Mr. Holmes was 2006 mining fund manager of the year for Mining Journal, a leading publication for the global resources industry, and he is co-author of "The Goldwatcher: Demystifying Gold Investing."

He is also an advisor to the International Crisis Group, which works to resolve global conflict, and the William J. Clinton Foundation on sustainable development in nations with resource-based economies.

Mr. Holmes is a much-sought-after conference speaker and a regular commentator on financial television. He has been profiled by Fortune, Barron's, The Financial Times and other publications.

Please consider carefully a fund's investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.

Copyright © 2010-2016 Frank Holmes

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com