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The Club PUBlication  01/27/2020

1/27/2020

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Giant tortoise is helping save his species from extinction
Since the program started, Diego and the two remaining Espanola males and their offspring have boosted their subspecies population to more than 2,000. 

By Diane Bell San Diego Union-Tribune

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This Jan. 9, 2020 photo provided by Galapagos National Park shows Diego the tortoise on Santa Cruz Island, Galapagos, Ecuador. After fertilizing some 800 offspring and contributing substantially to the salvation of one of the giant turtle species of the Galapagos Islands, Diego, a tortoise who is over 100 years old, will be returned in March to his original habitat on Española Island, from where he was extracted more that eight decades ago.

SAN DIEGO – A giant tortoise from the San Diego Zoo has created his own Galápagos Islands following.

Diego, a playboy tortoise, has gained him a place in the national spotlight, with CNN saying he “may have single-handedly saved his entire species from extinction.”

Diego came to the San Diego Zoo from the Galapagos as a young adult in the early 1930s, said Rick Schwartz, San Diego Zoo spokesman. In the mid-1970s, a plea came from Galapagos wildlife officials spearheading a breeding program to save the area’s dwindling population of the gentle giants that weigh 450 to 500 pounds as adults. They were searching for a subspecies of tortoise from the island of Espanola, where the creatures were on the brink of extinction likely because of human impact and possible climate change. Only two males and 12 females remained.

DNA testing confirmed that Diego was from that island, so the San Diego Zoo returned him in 1977. Little did anyone suspect that Diego would turn into a love machine drawn to the females who seemed to find him especially attractive.

Since the program started, he and the two remaining Espanola males and their offspring have boosted their subspecies population to more than 2,000. Diego, the Genghis Khan of tortoises, was determined to be responsible for fathering 800 to 1,000 of them.

“He’s a real Casanova,” said Schwartz. The caretakers told Schwartz that Diego was very personable. “The caretakers all adored him,” he said.
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One of the primary characteristics differentiating the Espanola Island subspecies from others is that, instead of the more common dome-shaped shell, they have a saddleback-shaped shell that rises to a peak behind the head. Espanola has a drier habitat and, instead of eating grass and low-lying plants, its tortoise population must feed from trees. The raised shell allows more flexible neck movement.

No one knows how old Diego was when he came to the San Diego Zoo. But he was an adult, Schwartz said. “He could be over 100 years old.”
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But his fatherhood days are thought to be far from over because these gentle giants are known to live to the age of 150. Plus, the habitat restoration and breeding program has been so successful that Diego is headed back into the wild on his former home island.

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The Club PUBlication  01/20/2020

1/20/2020

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​BUSINESS 567061472
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Big news seldom fazes markets, but keep an eye on smaller stuff
your Twitter feed may be on fire with the latest jaw-dropping intrigue, but the stock indexes just keep rolling along 
By Ben Marks and Brett Angel Special to the Star Tribune
 
JANUARY 18, 2020 — 8:33AM
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A specialist on the floor of the New York Stock Exchange checks a screen, Monday, Jan. 27, 2014.
While preparing for a review meeting with a client earlier this month, we waited for President Donald Trump to address the nation. It was the morning after Iran had fired missiles at U.S. military bases in Iraq. Although tensions in the Middle East have simmered down (relatively speaking) since the first week of January, it seemed Trump’s first official public comments were worthy of our attention.

A few minutes into his speech, we had to abandon the news conference to commence a regularly scheduled client meeting. “Are you watching the president?” we asked the client after greetings were exchanged. “Why would I?” was his response. “You guys told me none of that stuff matters to my portfolio.”
Countless times to countless clients, we have communicated the facts that presidential elections and geopolitical events might move markets in the short term, but rarely have meaningful long-term effect.

On the day a U.S. drone targeted and killed Iran Maj. Gen. Qassem Soleimani, the S&P 500 fell 0.71%. The Dow Jones industrial average lost 234 points. After four days — a period that included Iran’s retaliation and missile firings — the major equity indexes were back at all-time highs. If the stock market had a Richter scale, the entire episode would hardly have registered a tremor.

Fleeting impact of big news
In an age where most of us carry internet access in our pockets, it’s more difficult than ever to ignore the troubles of the world. Political dysfunction and military conflict may not be any more prevalent in 2020, but they sure feel more saturating. It’s important to acknowledge these events and consider their real world consequences. Just don’t allow them to influence major investment decisions.

Before the pop-up conflict with Iran, our country’s trade war with China was the international battle most difficult for investors to ignore. Earlier this week, American and Chinese representatives signed “Phase One” of a formal agreement, marking the unofficial end to a chapter in this ongoing saga.

It has been 18 months since the first U.S. tariffs were imposed on Chinese goods by the Trump administration. In that time, the S&P and Dow have risen 15 to 20%. That’s better annualized performance than historical averages and nothing remotely close to the economic banana peel some predicted.

That brings us to the pending impeachment trial of our president, the latest act in a political theater devoid of bipartisan actors. Make no mistake, it’s a sad state of affairs no matter which side of the aisle you sit on, but impeachment is not (and will not be) a legitimate driver of stock prices. The market has already suggested as much. Since Trump was impeached by the House of Representatives on Dec. 18, the S&P has climbed 3%.

A Republican-controlled Senate, of course, is seen as unlikely to convict the president. But even in the most extreme scenario — Trump being evicted from office — his successor would step into a divisive environment during an election year with no realistic shot at effecting meaningful change.

In the weeks to come, impeachment will fill the calendars of U.S. senators and further worsen the brutal inefficiencies of government. As it turns out, however, political gridlock is not a bad thing for the stock market. The S&P 500 is coming off calendar-year gains close to 30% and corporate earnings will once again post year-over-year growth in 2020 now that 2018 earnings juiced by corporate tax cuts are no longer the measuring stick.

Watch the smaller stuff
Gridlock means more of the same, and in this economic climate, that’s something stocks have celebrated.

To be clear, political dysfunction and global conflicts are not justifiably enough to drag markets significantly lower on their own. But they can certainly contribute to a growing sentiment of negativity.

Many people are under the impression that a single major event will be the cause of the market’s next big correction. More likely, however, it will be a convergence of several smaller factors that become too heavy to bear.

With a forward price-to-earnings ratio approaching 19, valuations for the S&P 500 are considerably higher than they were a year ago and nearing the most expensive point in the last decade. According to Goldman Sachs, 92% of market appreciation last year is attributable to higher valuations (as opposed to higher earnings).

Many stocks, in other words, bounced in 2019 due to the anticipation of better results to come in 2020. Companies have yet to deliver on those expectations.
Those are genuine reasons to express concern about equities in the year ahead. As for the other stuff, the market knows better.

Ben Marks is chief investment officer at Marks Group Wealth Management in Minnetonka. He can be reached at ben.marks@marksgroup. Brett Angel is a senior wealth adviser at the firm.

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The Club PUBlication  01/13/2020

1/13/2020

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7 things to know about booking a vacation with Costco Travel​
The members-only warehouse club has all types of vacation packages, hotel rooms, flights and rental cars. 
By Natalie B. Compton Washington Post
 
JANUARY 12, 2020 — 12:14PM
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Warehouse giant Costco sells travel, too.

Costco, America’s beloved wholesale behemoth best known for its bulk goods and Kirkland Signature private label, has long been one of the country’s favorite one-stop shops. Here, you can get high-end perfume and camping gear. Although most people know that Costco has great deals on household paper goods, they may not realize that Costco has been in the travel business since 2000. Costco Travel offers members discounted rental cars, cruises and guided group trips, as well as domestic and international vacations.

Because Costco Travel is a division under the regular Costco umbrella, its users can expect the same benefits shopping for a vacation as they would shopping for chicken. Here’s how it works: Costco Travel is made up of buying teams, just like the deal-making foot soldiers who work for regular Costco. These buyers work with travel vendors to negotiate lower prices on a limited number of goods (i.e., hotel rooms or cruise fares), then offer those discounted rates and packages to the many millions of Costco members. Buyers don’t work on commission or incentives; their job is simply to secure the best value.

Perhaps the nicest part of booking with Costco Travel is that it’s straightforward. The prices advertised on the website already include taxes, so you don’t end up with a completely different estimate at the end of the process, unlike other online travel agencies (like Booking.com or Hotels.com).
Intrigued? Before you book a trip with Costco Travel, here are a few things to keep in mind.

1. There’s something for everyone
There isn’t one kind of Costco Travel vacation. The most popular itineraries usually involve Hawaii, Mexico, the Caribbean and cruising, but there’s much more out there to book. Costco Travel has trips for adventure-seekers, for people ages 18 to 35 who want to travel with fellow young people, or people who want to drink a bunch of wine in a new place.

The prices vary, too. Travelers can hunt for packages in the Under $499 category or splurge on one of the “Costco Vacations of a Lifetime.”
You don’t have to book a big blockbuster vacation to reap the Costco Travel benefits, either. You can use the service to book an individual hotel room, or a hotel and flight. And according to insiders, one of the best-kept secrets is its rental-car business.

2. Look for Buyer’s Choice or Kirkland Signature vacations
Costco Travel insiders say that where the real savings lurk are in Kirkland Signature vacations, Buyer’s Choice vacations and Hot Buys, or limited-time deals that are advertised online and in Costco e-mail newsletters. These trips will offer additional value and amenities.

3. Flexible payment options
Costco members have payment options, like setting up recurring payments to cover the whole cost. You’ll probably have to pay a deposit on packages or pay for your airfare upfront, and some payment requirements may depend on the time of year. People who are able to pay early may be eligible for bigger savings.

4. Do your research on airfare
Shalen Fairbanks, a Costco member who lives in Silver Spring, Md., started using Costco Travel six years ago. She has booked five trips for her family to Mexico, Jamaica and the Dominican Republic. Her advice is to shop around for flights, because she has occasionally found better airfare deals than what Costco offered.
“You pick where you want to go, [Costco Travel] gives you a bunch of different options of hotels and packages, and then I do look at airfare separately,” Fairbanks says. “Sometimes it’s cheaper to go buy your own flight and then book the rest of the package” through Costco Travel.

If you do go with Costco Travel’s airfare option, which often comes with airport transfers, make sure you book any upgrades ahead of time. Charleston, S.C., resident Michael Fanning booked an African safari through Costco Travel when he noticed that it cost drastically less than what he had seen elsewhere.

“The trip was fantastic,” Fanning says. “I mean, it really was extraordinary.”
With one exception. “The one part that was not as fun was the 14-hour plane ride on African Airways from JFK to Johannesburg,” Fanning said. “That’s a tough trip. We would have preferred to have upgraded our seats, but we weren’t allowed to do that through the package.”

5. Get cash back on your purchase
Depending on your membership level, you may be able to get even better deals on a vacation with Costco Travel. Executive Members (whose annual fee is $120) earn 2% cash back on Costco Travel purchases.

Members who book their travel with a Costco Anywhere Visa Card by Citi (a credit card with no foreign transaction fees) earn 3% cash back.

6. Costco trips come with perks
Executive Members are treated to benefits like food and beverage credits, spa credits, room upgrades and more for the primary cardholder booking the trip. The extras are one of Fairbanks’ favorite parts of using Costco Travel.

“They’ll give you a $250 Costco Rebate Card,” she says. “The [trips] we’ve been on have a $100 or $200 spa credit per room. The one to Jamaica, we had a spa credit per room, plus we got $200 to use toward the local activity” company.
That Jamaica trip also included access to a VIP departure experience at the airport that got the Fairbankses through customs quicker. Fairbanks estimates she saved the cost of one person’s trip for her family of five.

7. Costco can’t control everything
While the planning and booking can be seamless, keep in mind that Costco Travel trips can have hiccups, like any travel experience. For example, the Fairbankses’ airport transfer didn’t show up for their scheduled pickup. “But that’s a problem on the company that made this transfer,” she says — not Costco’s. “Their driver didn’t show up that day.”
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In the event that anything goes awry, pick up the phone and contact a Costco Travel representative to assist with any issues.
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The Club PUBlication  01/06/2020

1/6/2020

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​​BUSINESS 566683751
Tesla stock hits record as 2019 sales rise more than 50%
Associated Press
 
JANUARY 3, 2020 — 3:25PM
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​DETROIT — Shares of electric car maker Tesla Inc. hit a record closing price Friday after the company reported that its global deliveries rose more than 50% last year.

The announcement Friday pushed Tesla's shares up nearly 3% to a record close of $443.01. The stock has more than doubled in value since closing at $178.97 on June 3 of last year, its 12-month low point.

Tesla said it delivered a record of about 112,000 vehicles in the fourth quarter and about 367,500 for the full year.

Tesla, based in Palo Alto, California, had earlier projected deliveries of between 360,000 and 400,000 units worldwide.

The lower-cost Model 3 accounted for 83% of the company's fourth-quarter sales at 92,550. The higher priced Model S Sedan and Model X large SUV made up the rest.

The sales increase should bode well for Tesla's fourth-quarter and full-year earnings next month.

But the company issued a note of caution Friday, saying that while sales figures are slightly conservative, they could vary by 0.5% or more when final numbers are out. "Vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors" including cost of sales, foreign currency fluctuations and the mix of leased versus sold vehicles, Tesla's said.
In the third quarter, Tesla posted a surprising $143 million profit, raising hopes that the company, which also makes solar panels and battery storage units, could finally be turning the corner to profitability.

Tesla has posted mostly losses during its first decade as a publicly held company, and it lost $1.1 billion during the first half of last year.

Tesla's new factory in Shanghai, China, produced just under 1,000 cars for sale and has deliveries have started in the world's largest car market, the company said in a prepared statement. Tesla broke ground on the factory less than a year ago, and expects to produce more than 3,000 vehicles per week there.

Wedbush analyst Daniel Ives, in a note to investors Friday, wrote that the recent rally in Tesla's share price was driven in part by short-sellers covering their positions as the stock rose. But the increase also is due to underlying fundamental improvements "as the company's ability to impressively not just talk the talk but walk the walk has been noticed by the street," he wrote.
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The coming year will be pivotal for Tesla and CEO Elon Musk with the start of production at the Shanghai factory, Ives wrote.
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