March 28, 2021

Money

ARK Invest Is Buying These 2 Tech Stocks: Both Could Double Your Money

ARK Invest has only been around since 2014, but it is already developing a reputation as one of Wall Street’s best-performing asset managers. Headed by CEO Cathie Wood, the company offers various financial products, including exchange-traded funds (ETFs) built around innovative secular trends like autonomous technologies, next-generation internet, and genomics.

Over the last three years, the company’s flagship product — the ARK Innovation ETF (NYSEMKT:ARKK) — has skyrocketed in value by 200%, crushing the 52% return of the S&P 500 over the same period. Given Ark’s track record for picking winners, investors should note that Roku (NASDAQ:ROKU) and Square (NYSE:SQ)

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The shocking ways billionaires, profitable companies hide money

At 60-stories high and 684-feet tall, Boston’s Millennium Tower, a residential luxury high-rise that opened in 2016, is the fourth-tallest building in the city. 

It is also a virtual ghost town. 

That’s because the Millennium is less of a playground for the rich and more of a tax shelter in the sky, writes Chuck Collins in his new book, “The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions” (Polity), out next month. 

“Over 35 percent of the 443 condominiums are owned by shell companies and trusts, and almost 80 percent of the unit owners do not claim

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‘Recasting’ is another way, besides refinancing, to save money on your mortgage

“Recasting is far different from a refinance,” says Matt Weaver, vice president of Cross Country Mortgage in Boca Raton, Fla. “There’s typically little to no cost to recast your loan. Your interest rate doesn’t change, and your note due date doesn’t change. If your loan is a 30-year fixed-rate loan, it’s still a 30-year fixed-rate loan. The only things that change are your balance and your monthly payment.”

For example, if you have a $400,000 loan balance and pay $75,000 to reduce the principal, you’re recasting your loan to one with a $325,000 balance. The monthly payments with a 3.0

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Alaska considers sinking laid-up ferry to save money for ailing Marine Highway

JUNEAU — The Alaska Marine Highway System is in such bad shape that the deliberate sinking of one of its ships could be an improvement.

In a series of hearings this week, members of the Alaska Legislature have been considering the ailing ferry system, which has seen its budget slashed from $175 million in 2014 to just over $103 million in the latest budget draft proposed by Gov. Mike Dunleavy’s administration.

Officials with the Alaska Department of Transportation and Public Facilities are considering whether to scuttle the ferry Malaspina, one of the oldest of the state’s eight ferries, as an

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The NCAA Is Leaving Money On The Table

First, we look at how the women’s NCAA Tournament is shaping up. There have been some amazingly close games — Texas A&M inched past Troy with some questionable refereeing — and an upset that took the FiveThirtyEight Excitement Index all the way to 11 as Wright State beat Arkansas. But unfortunately, the NCAA has been getting in its own way and making the story of this year’s women’s tournament more about a series of missteps, to put it charitably, and notable discrepancies in how the organization is treating its male and female athletes. The lack of proper weight facilities and

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Social Security beneficiaries wait for money

Seniors, who are 65 and over, wait in line at the Department of Health Sarasota COVID-19 vaccination clinic in Sarasota, Florida, U.S. January 4, 2021.

Octavio Jones | Reuters

As $1,400 Covid stimulus checks go out, some lawmakers are expressing concern that recipients of Social Security and other federal benefits have yet to get the money to which they are entitled.

Congressional Democrats, including Rep. Richard Neal of Massachusetts, who serves as chair of the House Ways and Means Committee, sent a letter to the IRS and Social Security Administration on Monday calling for “immediate attention to this urgent matter.”

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