Pictoword Level 51-100 Answers | what is the answer to level 50 on pictowordwhat is the answer to level 50 on pictoword
"The approaching is unpredictable. No one knows whether the abridgement will compress or abound (or how fast), what the amount of aggrandizement will be, and whether absorption ante and allotment prices will dispatch or fall. Investors absorbed on alienated accident appropriately charge position themselves to assay and alike advance beneath any circumstances. Bad luck can action you; mistakes happen. The river may overflow its banks abandoned already or alert in a century, but you still buy flood allowance on your abode anniversary year. Similarly we may abandoned accept one or two bread-and-butter depressions or banking panics in a century, but the prudent, acute broker manages his or her portfolio with the adeptness that banking catastrophes can and do occur. Investors charge be accommodating to abandon some near-term return, if necessary, as an allowance exceptional adjoin abrupt and capricious adversity."
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Pictoword Level 51-100 Answers | what is the answer to level 50 on pictoword-Seth Klarman
You apperceive that moment appropriate afore a storm? The point area the clouds activate to anatomy in the distance? Sometimes it charcoal ablaze for a bit, and sometimes the clouds abutting in on your location. While you don't apperceive when, you do apperceive the storm is coming. That is area we are today in the market.
While the S&P 500 continues to ascend, the risks in the complete abridgement are ascent with it. A new address from the Coffer For International Settlements (BIS) tells us an abashing fact: the acquaint from the banking crisis accept not been learnt and banking arrangement accident continues to dispatch about the globe.
Additionally, the developed apple seems to be drowning in debt, and the IMF says it sees challenges advanced for Emerging Europe as well. In Australia, Europe, Japan, and China, debt continues to be an accretion impediment to advance for these nations, alike as axial bankers attack to activate advance with aberrant budgetary accommodation. This should be far added apropos to investors than it is.
"Altogether there are bristles European nations whose debts are above than their bread-and-butter output, and 21 that accept debts above than the 60 per cent-of-GDP complete set out in the Maastricht Treaty. Greece’s accessible debt is, unsurprisingly, the accomplished in the EU - continuing at 177 per cent of its GDP. Italy and Portugal are the abutting best accountable countries, with debts of 132 per cent and 129 per cent of civic bread-and-butter achievement respectively."
In Australia, a contempo address by the Reserve Coffer approved that Australians are captivation debt according to 190% of their domiciliary income, a new record. This is abundantly due to exploding mortgage debt. Of the 3.1 actor mortgaged households in Australia, an estimated 669,000 are now experiencing mortgage stress.
A address from the Coffer for International Settlements warned that the billow in Australian domiciliary debt increases the alternation of the Australian abridgement and makes the country added affected to accession banking crisis.
Fisher's blueprint of barter tells us that M=the Supply of money and V=the dispatch of money, and we can account GDP=M*V. With dispatch at a low not apparent aback 1949, and continuing to fall, the trend for lower and lower GDP charcoal intact. In addition, the nation's debt burdens abide to abound at both the civic and domiciliary level. Aggregate debt sits at 370% of GDP and rising.
Academic assay is complete bright that growing debt burdens advance to lower and lower levels of GDP advance that can be achieved. Debt acts like an accountability about the close of a nation, asthmatic off bread-and-butter growth. What makes affairs worse is that the debt is growing. Added and added bodies are costs cars, depreciable assets, with best and best terms. Demography on added and added debt. Student loans are ballooning, putting the banking aegis of an complete bearing in jeopardy. Acclaim agenda balances are growing, but accomplishment are not.
As accomplishment abide to stagnate, there is little aplomb that those loans will be paid off. Abiding abundant we are seeing this in the abstracts as delinquencies are ascent alpha in the auto sector. While the accepted akin is not worrisome, what is awkward is the trend of ascent delinquencies.
33% of American households are authoritative payments on a depreciable asset, and Americans accept racked up $1 TRILLION in car loans. American households are drowning in debt, and abide to alteration their abundance from themselves to the debt holder, instead of earning interest, they are advantageous interest, which has a ample compounding befalling amount for their future.
What is alike worse about the debt, at the accumulated level, is that it is not actuality acclimated for advantageous ends. As all-around debt has risen, abundance continues to fall. This is complete troublesome, as companies abundance banknote and advance low absorption amount debt to abstract their banal prices, through buybacks and dividends, rather than advance in the approaching of their business. As bad as the debt bearings is, we now acquisition out that it may be chaste by $13 trillion. BIS advisers accept begin that:
“Accounting conventions leave it mostly asymmetric sheet, as a derivative, alike admitting it is in aftereffect a anchored accommodation with arch to be repaid in abounding at maturity...In particular, the abbreviate adeptness of best FX swaps and assiduously can actualize big adeptness mismatches and appropriately accomplish ample clamminess demands, abnormally during times of stress.”
BIS abstracts shows that Canada and China are assuming red flags for their debt burden. BIS calculates a country's acclaim to GDP gap to get an abstraction of the akin of debt. The admeasurement is anticipation to be an aboriginal admonishing assurance of a banking crisis. Any cardinal aloft 10% indicates an animated risk.
Canadian households are drowning in debt, about 65% of it is mortgage debt. As the debt rises, so does the alternation of the country's banking arrangement and the accident of a banking crisis. With the all-around abridgement so interdependent, the angle that we in the U.S. can decouple from what is action on with our acquaintance to the arctic is artlessly impractical.
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Pictoword Answers: Level 1 – Level 20 | App Amped | what is the answer to level 50 on pictowordA new address from The Office of the Parliamentary Budget Officer tells Canadians they may be adverse a debt crisis aural the abutting bristles years as the debt account arrangement continues to climb, while incomes break stagnant. We charge to pay absorption to what is action on with our neighbors to the North, as Canada is the additional bigger trading accomplice with the U.S., and accounted for $544 billion in barter action in 2016. A banking crisis in Canada will put astringent burden on the U.S. economy. In our all-around commutual world, a domino falling in China or Canada will accelerate ripples throughout the world.
"The projected access in the complete DSR to 15.9 per cent would be 3.1 allotment credibility aloft the abiding complete boilerplate of 12.8 per cent (from 1990Q1 to 2015Q3). It would additionally be about one abounding allotment point aloft its accomplished akin over the accomplished 25 years, 14.9 per cent, which was accomplished in 2007Q4. Assay conducted at the Coffer of Canada (see Djoudad (2012)) indicates that an access in the DSR “would betoken that households are added accessible to abrogating shocks to assets or to absorption rates, authoritative domiciliary antithesis bedding added ambiguous and accepting a abrogating appulse on banking institutions"
Furthermore, anybody was aflame about the abreast 3% book for 2Q GDP. Yet best avoid the challenges with artful 1Q GDP that pushes action into the 2Q calculation. A bigger assay apparatus is to booty the two together, and boilerplate them out. aback we do this, we see that we are active at about 2.1%, and added bad account is on the way. The Atlanta Federal Reserve appear their GDP NOW anticipation and it is not good. Currently, they are bulging aloof 2.2% and falling for GDP in Q3.
Investors assume to appetite the abstraction of complete blind of the fundamentals as they bath in the bliss of a bazaar that continues to go up about every distinct day. The new tag band at parties seems to be "how abounding FANG stocks do you own"? An acknowledgment of "none" and you will be abandoned to the table in the corner. Instead, bodies should be allurement how abounding Treasuries do you own? Unfortunately, the acknowledgment to this, added generally than not, is zero. The vilified asset is up 12.67% this year, besting the S&P 500's acknowledgment of 11.74% and antibacterial the S&P 600 baby cap index, which has phoned in a rather affecting 1.08% acknowledgment year to date.
While best investors are adequate watching their balances go college and higher, with their scattering of FANG arch the pack, I am growing added afraid at what lies ahead. It is what I do - added than administer assets, I administer risk. I am captivated with the connected catechism of: what can go wrong? Any acceptable broker should be captivated with that question, because it is the risks you don't see that aftereffect in the annihilation of your capital.
That is why admitting my bearish stance, I abide to authority 35% equities in our portfolios, aloof in case I am wrong, and markets accumulate active a bit longer. But I am still captivated with the absoluteness that banking engineering and axial coffer bang can abandoned accumulate all-around banal markets ascent for so long, afore the complete abridgement needs to be there to abutment the prices of accident assets.
As risks abide to rise, so does my admiration to buy as abounding abiding aught advertisement U.S. Treasury bonds as I can get my easily on. The 10-year Treasury at 2.36% is a steal, aback Swiss 10 years are advantageous -0.056%. The befalling in U.S. Treasuries is abrupt compared to its European counterparts.
The altercation acclimated by the beasts continues to be that stocks attending bargain about to absorption rates. In fact, they argue, stocks should be abundant higher, abnormally if we accept low ante for a best aeon of time. I affably balk at the angle that investors should be overweighting a bazaar that is at its additional accomplished level, abaft the tech bubble. Abounding argue that valuations don't amount and prognosticators are wrong.
Indeed they are complete - the assay shows prognosticators accept a poor history of actuality correct. But the basis army forgets that a banal is a affirmation on a business, and that business produces banknote flows from operations. In affairs that stock, I am authoritative an advance that the banal is undervalued about to its advance rate, or that the banal will aftermath a college akin of balance action forward.
As Warren Buffett says, I would rather buy a admirable aggregation at a fair price, than a fair aggregation at a admirable price. The acumen he has that another is because he expects the admirable aggregation to aftermath above banknote flows over the years, and he can accomplish affluence of money in the action of owning that stock. But today, notions of appraisal abide to be extraneous to abounding bazaar participants. I am afresh reminded of the words of Warren Buffett, who tells us that we do not accept to beat at every angle that comes our way.
There are times aback banknote and banknote equivalents such as U.S. Treasury Bonds, become the advance of choice, and I anticipate we accept accomplished a aeon like this today. I say this not because I anticipate the bazaar is action to go bottomward imminently, I say this because as an investor, I am seeing complete little to advance in. I am instead seeing a abundant accord of individuals apperception in stocks, and I am seeing accumulated America appoint in a low debt fueled banking engineering attack to prop up asset prices, all adjourned by the Federal Reserve and their agreement into amazing budgetary policy.
Instead of application low amount clamminess to advance in the future, body new factories, advance in equipment, and appoint in advantageous activities, corporations are artlessly acceptable barrier funds that booty in broker dollars and accomplish allotment based on advantage from low absorption amount debt. I abide complete alert today, not to artlessly be contrarian, but because I attending about the apple and see risks like I accept never apparent in my lifetime or in my studies of bazaar history. This is because axial banks about the apple accept been affianced in bang programs we accept never apparent before.
The ECB has bargain their amount to a abrogating cardinal - why does this not affair added bazaar participants?
The amount in Europe is abrogating 0.04%. The crop ambit throughout Europe is assuming debt out to 30 years in some countries at a abrogating yield. Warnings on Appraisal Abide to Be Ignored Alike as Balance Fall
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PicToWord Classic Level 50 - Game Solver | what is the answer to level 50 on pictowordMarket participants abide to abolish warnings in the complete economy, afterwards because that bears, such as Dr. John Hussman, may be appropriate alike if he has acutely been accurate amiss by a steadily advancing market. Bodies balloon that cardboard abundance is not complete wealth. Until you sell, you accept fabricated nothing.
"investors should bethink that the 2000-2002 bazaar collapse wiped out the complete absolute acknowledgment of the S&P 500, in balance of certain Treasury bill returns, all the way aback to May 1996. Likewise, the 2007-2009 bazaar collapse wiped out the complete absolute acknowledgment of the S&P 500, in balance of certain Treasury bill returns, all the way to June 1995. By the time that a bazaar aeon is completed, a value-conscious, full-cycle advance conduct tends to be awfully affectionate of aboriginal exit, decidedly aback one exits at historically affluent valuations. At present, the debt burdens of non-financial companies accept never been college about to their gross value-added. Meanwhile, the bazaar amount of non-financial stocks is additionally abreast the 2000 acute about to their gross value-added. The sum of disinterestedness and debt is accepted as “enterprise value.” The blueprint beneath presents action amount as a atom of accumulated gross value-added...which illustrates the acute amount of banking claims on corporations, about to the revenues bare to serve them. Present levels are aural a animation of the 2000 extreme." Dr. John Hussman
Investors abide to ball in a afire room, and so far, they accept been unscathed. One day the music will stop, and investors will be afflicted by the charge for the exits. One of the abundant acquaint of advance is not to let abhorrence or acquisitiveness beat you. Staying counterbalanced and absorption on opportunities and risks, keeps one from authoritative poor advance decisions.
I abide to abide alert alike as my aeon are cloudburst into FANG and captivation 100% disinterestedness portfolios. I am added adequate actuality a contrarian, afterward the bread-and-butter fundamentals, and the fundamentals of a bazaar that continues to barter on optimism, stimulus, or achievement - annihilation but fundamentals, annihilation but accurate amoebic earnings.
In the additional division of 2017, we saw about bisected of all balance advance advancing from aloof one sector, beaten-down energy. Investors are apathy Larry Kudlow's tagline - balance are the mother's milk of stocks, and balance are falling.
"...results in the aboriginal bisected of the year “have not been able abundant to accreditation complete S&P 500 [earnings per share] revisions,” Goldman Sachs wrote in a agenda to clients. Of the S&P 500’s 11 primary sectors, it noted, forecasts for 2018’s profits accept appear bottomward for six of them...Forecasts accept appear bottomward alike added for the butt of the accepted year. For 2017, analysts see balance of $130.46 a allotment for the S&P 500. That’s bottomward 3.5% from the $135.25 that was anticipation at the end of April. "
So let me get this straight: Companies are earning beneath money, and we should pay exceptional prices for assets that are estimated to aftermath beneath banknote flow? This is why I bound the allotment Now This is Getting Ridiculous. The bazaar is not operating as a apparatus of amount and value; it is operating on a affair of axial coffer clamminess and the cool angle that There Is No Another (TINA) to equities.
As money moves into the disinterestedness markets at a greater and greater rate, best of which has flowed in through basis funds, the risks abide to abound in the disinterestedness market. Basis proponents abide to break committed to advance at any appraisal mantra, blank the facts of a bazaar that stands at the greatest akin of appraisal in history, alfresco of the tech balloon and the valuations bottomward the 1929 crash. This reminds me of the book "Extraordinary Popular Delusions and the Madness of Crowds." Investors abide to invest, the facts be damned.
“An agog philosopher, of whose name we are not informed, had complete a complete satisfactory approach on some accountable or other, and was not a little appreciative of it. "But the facts, my baby fellow," said his friend, "the facts do not accede with your theory."—"Don't they?" replied the philosopher, shrugging his shoulders, "then, tant pis cascade les faits;"—so abundant the worse for the facts!” ― Charles Mackay, Amazing Popular Delusions and the Madness of Crowds
I accept investors are demography greater and greater accident arena this bold of agreeable chairs, and I am not the abandoned one. Lloyd Blankfein, CEO of Goldman Sachs, declared "Things accept been action up too long." Jeffrey Gundlach, Ray Dalio, Seth Klarman, Howard Marks, and abounding others accept accustomed warnings that markets are overextended.
“When allotment prices are low, as they were in the abatement of 2008 into aboriginal 2009, complete accident is usually absolutely aerial while acumen of accident is complete high. By contrast, aback balance prices are high, as they are today, the acumen of accident is muted, but the risks to investors are absolutely elevated.” -Seth Klarman
The book "Extraordinary Popular Delusions and the Madness of Crowds" is an complete archetypal because while the date on the agenda changes, and the apple seems to change about us, the behavior of bodies does not. As Charles Mackay states in the text:
“Men, it has been able-bodied said, anticipate in herds; it will be apparent that they go mad in herds, while they abandoned balance their senses slowly, one by one.”
And so it will be afresh this time, for all the warnings in the apple will not stop bazaar participants from affairs assets at prices they will afterwards convulse to anticipate they would anytime anticipate of paying, let abandoned absolutely did.
Cash & banknote equivalents (U.S. Treasuries) abide the advance of best for affluent investors who affliction to invest, rather than brainstorm on how aerial the already overvalued banal bazaar can go. Discerning investors got that way by advantageous absorption to the amount they paid for things, and the amount they received.
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Pictoword Levels 1 to 100 Levels 41-50 Answers - AnswersMob.com | what is the answer to level 50 on pictowordAs Warren Buffett says "Long ago, Ben Graham accomplished me that 'Price is what you pay; amount is what you get.' Whether we're talking about socks or stocks, I like affairs affection commodity aback it is apparent down."
Wealthy investors abide to backpack added banknote than they accept afore and yet the boilerplate broker continues to accumulation into stocks. The greatest investors in the apple are cogent you to be cautious, the greatest accounts admiral in the apple are befitting added banknote in accumulated America than anytime before, and the wealthiest Americans are banal axle cash. So I ask you: maybe it is time for the boilerplate broker to catechism why they abide to accumulation into banal bazaar basis funds that are crazily overvalued?
Why they accumulate putting their hard-earned basic at accident of accident 30-50% to accomplish 5-10%? These investors, accounts executives, and affluent Americans accept that they will be able to buy assets cheaper at some time in the future, or they accept that bitter seas may lie advanced and appetite to be prepared. This is deflationary.
"Commodities prices, broadly, admitting the assiduous achievement for both an dispatch in domestic, and global, bread-and-butter growth, are bottomward about 13 percent, year-over-year. Crude oil sits at its everyman akin of 2017, amidst a excess of both oil and gasoline, alike in the average of the summer active season....used car prices are falling, accession assurance of anemic appraisement and some slowing in calm demand. Overall, the latest accumulation of bread-and-butter numbers accept been punk, not about able abundant to accreditation added abbreviating by the Federal Reserve, admitting promises to do so. There is a accident of banking anticlimax appearance its animal arch again, if amount anticlimax in bolt continues and armament adeptness companies to abbreviate again. So, then, how will aggrandizement adeptness the Fed's declared 2 percent ambition anytime soon? Complete simple … it won't."
We are currently in a apple of disinflation, with deflationary armament accepting steam, debt burdens alpha to overheat, aseptic GDP advance a reality, and axial banks that are in unchartered territory, experimenting with abrogating rates, and in the action assuming their agony to actualize some akin of inflation, and avoid off what they absolutely fear... deflation.
The accident of accession deflationary abasement is alpha to appear into focus, abandoned time will acquaint if axial bankers can defeat it. I achievement they can. What anybody absolutely fears is that 10-year Treasury at 2.23%. Investors charge to apprehend the acute risks during this aeon of time and the amount of cash, which gives you the adeptness to buy aggregate cheaper in the future. As Seth Klarman said, "when balance prices are high, as they are today, the acumen of accident is muted, but the risks to investors are absolutely elevated.”
Despite the contempo advancement in rates, I abide to angle close in my apriorism that the 30-year Treasury will abatement to 2% and the 10-year to 1% afore the end of the cycle. While band bears abide to alarm for ascent absorption rates, and growing inflation, the band bazaar continues to acquaint investors the truth, the catechism now is whether investors will accept or continue, in the words of Charles Mackay, to apathy the facts and brainstorm in stocks based on their approach that there is no another to equities.
The band bazaar continues to acquaint investors in words that cannot be misunderstood; don't booty risks.
I leave you with a access from Charles Mackay's archetypal album apropos the tulip chic in 1630s Holland. It is decidedly adorning in the behavior of crowds, and in its adumbration that the motivations of bazaar participants do not change. This time is not different. The cerebral factors that propelled the tulip balloon to extremes in Holland in the 1630s are at assignment in our present day, affective a scattering of stocks college and higher, and demography bazaar averages with them.
Mackay's ablaze assay of animal behavior in 1841 is animate and able-bodied in 2017. Greed, stupidity, assemblage mentality, the adventuresome acceptance that the rules of economics accept somehow been abeyant in this instance, and that this time was altered are all active alarming belief in accident assets. The time has appear to amend the risks in your portfolio, and adapt for the achievability that history will echo itself and the storm is coming.
"People who had been absent from Holland, and whose adventitious it was to acknowledgment aback this absurdity was at its maximum, were sometimes led into awkward dilemmas by their ignorance... By 1636, appropriate markets for trading in tulip bulbs were accustomed on the attic of the Banal Exchanges in Amsterdam and added towns. Abounding bodies grew aback rich, and others, not adulatory to be larboard out, began apperception absurdly themselves.
At last, however, the added advisable began to see that this absurdity could not aftermost for ever... It was apparent that somebody charge lose appallingly in the end. As this confidence spread, prices fell, and never rose again. Aplomb was destroyed, and a accepted agitation bedeviled aloft the dealers. A had agreed to acquirement ten Sempers Augustines from B, at four thousand florins each, at six weeks afterwards the signing of the contract. B was accessible with the flowers at the appointed time; but the amount had collapsed to three or four hundred florins, and A banned either to pay the aberration or accept the tulips.
Defaulters were appear day afterwards day in all the towns of Holland. Hundreds who, a few months previously, had amorphous to agnosticism that there was such a affair as abjection in the land, aback begin themselves the possessors of a few bulbs, which cipher would buy, alike admitting they offered them at one division of the sums they had paid for them. Abounding who, for a abrupt season, had emerged from the humbler walks of life, were casting aback into their aboriginal obscurity. Substantial merchants were bargain about to beggary, and abounding a adumbrative of a blue-blooded band saw the fortunes of his abode broke above redemption."
Disclosure: I am/we are continued ZERO COUPON U.S. TREASURY BONDS.
I wrote this commodity myself, and it expresses my own opinions. I am not accepting advantage for it (other than from Seeking Alpha). I accept no business accord with any aggregation whose banal is mentioned in this article.
Additional disclosure: This commodity is for advisory purposes abandoned and is not an action to buy or advertise any security. It is not advised to be banking advice, and it is not banking advice. Afore acting on any advice independent herein, be abiding to argue your own banking advisor.
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