Sunday, March 22, 2015

BOOM: Nasdaq Nears Record, Race to the $100 Million Spec House, Companies Hoard Record Amount of Cash

BOOM: Nasdaq Nears Record… 
U.S. stocks rallied on Friday, with the Nasdaq Composite Index closing at its highest level in 15 years.
The Nasdaq Composite climbed 34.04 points, or 0.7%, to end at 5026.42, placing the index within striking distance of its record close of 5048.62, reached in March 2000.
On Friday, the index hit 5042.14, its highest point since the index reached its intraday record of 5132.52 on March 10, 2000. It has been nearly three weeks since the Nasdaq broke through and closed above 5000 for the first time since 2000
“Clearly this year growth is getting rewarded,” said Bob Turner, chief investment officer for Turner Investments, which manages roughly $1 billion. He added that the rise in many technology stocks in the past year has been driven by rapid revenue and profit growth.

Race to the $100 Million Spec House…

When Shelly and Avi Osadon set out to build their dream house on a hillside lot in Beverly Hills, Calif., they commissioned a custom chandelier with 25 handblown glass balls for the entryway. They installed $5,000 “hands-free” toilets with heated seats in most of the home’s 10 bathrooms. They even bought $350 electric toothbrushes custom designed by “dentist to the stars” Jon Marashi.
Now all the Osadons need to do is find someone who wants to buy their dream—ideally for their $35 million asking price.
More developers and investors are racing to build increasingly lavish homes on spec. Built on prime lots with master suites larger than most homes and spas and entertainment spaces comparable with those in hotels, many of these homes are also attempting to break new price records.
Companies hoard record amount of cash…
Corporate America has so much cash sitting in the bank that it could purchase the Dallas Cowboys 437 times without borrowing a dime.
Or if these titans of business really love House of Cards they could splurge by acquiring Netflix(NFLX, Tech30) 53 times. They could even buy Apple (AAPL, Tech30), Facebook (FB, Tech30) and Warren Buffett’s Berkshire Hatahway (BRKA) and still have cash to play with.

No comments:

Post a Comment