Stanley Ho's lawyer laughing all the way to the bank
You would imagine that Stanley Ho Hung-sun doesn't have too much to laugh about these days having been reduced from a zillionaire to virtually nothing by the recent manoeuvres of some of his not-so-loving family. However, his lawyer Gordon Oldham made him laugh. On one of the three video interviews between Oldham and Stanley released on YouTube, Stanley is telling Oldham he has done a good job. 'I must congratulate you - in just a few days you managed to blow this thing up so big.' Quick as a flash Oldham replies: 'It will be reflected in my bill.' Stanley laughs - but we don't think Oldham was joking.
Time to 'go long on women'
Much as we love women the idea of viewing them as an investment class seems daunting to say the least. That is not, after all, why we love them. However, Bank of America Merrill Lynch has a new report out which counsels 'go long on women'.
The firm has drawn up a list of stocks which it says cater to women's needs and will benefit from their rising wealth. The bank says that many of the sectors currently showing job growth are those traditionally dominated by women - health care and nursing, for example.
'In the next ten years, females aged 30-39 are expected to be among the fastest growing demographic groups within the US,' according to David Bianco, chief US equity strategist with the bank. He predicts that as women will be earning a higher proportion of household income, they will have a greater say in household spending. So if we want to invest in firms that provide what women want we should be looking at companies such as Ann Taylor, Coach, Tiffany and Macy's.
This report has appeared on some websites and has attracted bitter comment from men along the lines that women have more money because of men - a line of thought we don't want to pursue today.