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Ameriprise profit soars as growing stock market entice Businessmen


Ameriprise profit Financial Inc.’s second-quarter profit jumped 17 percent, pushed upward by investor clients eager to ride the rising stock market and the company’s efforts to control expenses. The pretax operating profit of its advice and wealth management unit, its biggest business, grew 32 percent to $291 million.
Ameriprise’s asset management unit, which operates Columbia Threadneedle mutual funds and other investment vehicles, experienced a 19 percent jump in pretax operating profit to $176 million.
Ameriprise said its expenses grew 1 percent in the quarter but that it trimmed general and administrative spending by 3 percent.
The Minneapolis-based financial advisory firm said Tuesday it earned $393 million, or $2.50 a share, in the April-to-June period.

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 the reason the stock market is not expensive

 stock market is not overpriced

Even worse is the situation for Energy stocks, which are way above their historic averages.
Bottom line: there are pockets of the market that are arguably overvalued, but the S&P itself is only modestly stretched.
That’s why the prices of oil stocks — and earnings estimates — have been coming down.
Energy stocks are 50 percent higher than their P/E values.
Of course, there are pockets of the market that are indeed expensive.

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 stock market

However, as I addressed in “The Illusion of Declining Debt to Income,” if these are effective solutions, why are most of Americans so financially poor?
(Read the primer: “The Big Lie of Market Indexes.”)Seven myths you are told that keep you from being a successful investor1.
Over the years, I have regularly addressed the psychological and emotional pitfalls that ultimately lead individual investors to poor outcomes.
This behavioral trend runs counter-intuitive to the “buy low/sell high” investment rule and continually leads to poor investment returns over time.
Again, if the myths above weren’t myths, wouldn’t there be a whole lot of rich people heading into retirement?

collected by :Dicson Walt


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