ItsMoneyMark Newsletter #102

Apple Inc, the next JP Morgan? 

Apple launches 4.15% Apple Card Savings Account

Well talk about hitting the market with disruption and further innovation this week. Apple launched earlier this week, via its Apple card, its savings account interest rate at an attractive 4.15%. 

Interesting features of Apple’s launch for this product, it requires no minimum balance or deposit. Additionally, you can set it up from the wallet app on your phone. All rewards, e.g., 3% cash back on purchases will go straight back to your account, which is the Apple card reward program. 

ItsMoneyMark Newsletter #97

Quick Take on Sagicor Select Funds, Are they Still Relevant? What has gone Wrong?

Both Sagicor Select Funds, Financial and Manufacturing & Distribution (SELECTF and SELECTMD) posted mediocre financial numbers for 2022. In the case of SELECTF, the numbers were not a one-off, but represent two (2) years in row of net losses for shareholders. 

For SELECTMD the profit was barely there for 2022, with the Company registering net profit of J$ 20.2 million with earnings per share of J$ 1 cent. This was in distinct contrast to the previous financial year of 2021, where SELECTMD, hit net profit of J$ 866 million with earnings per share of J$ 23 cents.

ItsMoneyMark Newsletter #47

The U.S. Fed, Rates Hikes & Interest Rates

.S. President Biden took office on January 20, 2021. He approaches his 1-year anniversary of his 4-year term within a week of today. The Biden team has been making its move at the Fed with the November 2021, re-nomination of Jerome Powell to a 2nd term as Fed Chair.