Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
Germany online bank N26 said it raised a huge $170 million in additional funding, valuing the six-year-old fintech start-up at $3.5 billion.Technologyread more
Stocks in Asia traded lower on Thursday afternoon. Australia's jobs data showed the net number of jobs created was far below expectations.Asia Marketsread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
A photo editing app has introduced a few new wrinkles to the faces of celebrities — and to the ongoing discussion around personal digital security, NBC reports.Technologyread more
Property price gains across the wider U.K. have been slowing since 2016, according to the U.K.'s Office for National Statistics.Real Estateread more
The International Monetary Fund on Wednesday said that the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, Japan's yen and...World Economyread more
The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
See which stocks are posting big moves after the bell on July 17.Market Insiderread more
When millennials—young adults also known as Generation Y—finally decide to overcome their skepticism about financial markets and invest in stocks, many of them are chasing the wrong names with costly consequences, said Patrick O'Shaughnessy, a 30-year-old portfolio manager at O'Shaughnessy Asset Management.
"Here is the biggest mistake they're making as investors in public equity markets: They're buying all the expensive, exciting names like GoPro and Twitter, and Tesla, " O'Shaughnessy told CNBC's "Squawk Box " on Monday, rather than taking a more conservative approach that will pay off over time. (Tweet This)
That's if they're investing at all. A recent survey by Bankrate.com found that just 26 percent of Americans under age 30 are investing in the stock market, compared to 58 percent of people between ages 50 and 64 who invest. In surveys, they cite a dearth of financial knowledge, a lack of money and distrust of Wall Street among reasons for their skittishness about stocks.
"They don't know enough about the stock market. They are skeptical of stock brokers. Or they're just skeptical of markets in general," said O'Shaughnessy, whose father, Jim O'Shaughnessy, started the investment firm that bears the family name.
But by staying on the sidelines, millennials—loosely defined as people born in the early 1980s through the late 1990s—can miss out on their biggest advantage: time. Young investors' biggest value proposition, said O'Shaughnessy, is the power of compounding interest. "The best advantage in investing is a long, long time horizon," he said, noting that the market is up about 2,000 percent since he was born in 1985.
"That's a huge return over 30 years, which is roughly what we're facing between now and retirement," he added, but acknowledged, "you have to live through a lot of downturns." That's something millennials know all too well. They experienced the shock of the 9/11 terrorist attacks and the resulting economic downturn, followed closely by the Great Recession sparked by the 2008 financial crisis.
As the fortunes of millennials grow, though, so should the number of Gen Y investors. And there are signs that's beginning to happen.
A third of adults under 30 years old say their overall financial situation is better than it was 12 months ago, according to Bankrate.com's financial security index for April, released Monday. By comparison, only 19 percent of the 50 and older crowd reported a better overall financial situation.
"It's really hard getting people motivated about something three or four decades from now versus a student loan debt that they have to pay right now," said O'Shaughnessy, who is also author of the book, "Millennial Money: How Young Investors Can Build a Fortune."
But for those who do start investing early, it can really pay off.