Jim Cramer hasn't recommended bonds ever since the Great Recession because interest rates are so low. "In general, for the last few years, even when the stock market has been getting absolutely pounded, bonds simply haven't represented very good values versus equities," the " Mad Money " host said. Cramer has always had the notion that excessive prudence can be one of the most reckless strategies of all.
Facebook (NASDAQ: FB) CEO Mark Zuckerberg called on the need to consider universal basic income for Americans during his Harvard Commencement Speech. Zuckerberg's comments reflect those of other Silicon Valley bigwigs, including Sam Altman, the president of venture capital firm Y Combinator. Now it's time for our generation to define a new social contract," Zuckerberg said during his speech.
A closer look at Sears' earnings show that the company's sale of its Craftsman brand in March is responsible for its net income of $244 million in the first quarter. Excluding the sale, Sears' losses deepened to $230 million from $199 million the prior year. Sears says it is "fighting like hell" to turn business around and has promised to cut costs by $1.25 billion.