Iran Offers to Open Strait of Hormuz If US Lifts Blockade, Ends War

A Surveillance State On Wheels Authored by Jeffrey Tucker via The Epoch Times, Renting a car used to come with an element of fun. For a day or two you could be the pretend owner of a new car. It could be the sports car you have always secretly wanted, maybe in bright red. It could be a mighty utility vehicle you need instead of your 4-door sedan. In any case, it’s just interesting to experience a new and different car over a limited period, if only to mix things up a...

Carvana Crashes After Earnings Outlook Disappoints Wall Street Carvana shares plunged in premarket trading after the online used-car retailer issued full-year earnings guidance that may fall short of Wall Street expectations, as vehicle sales growth slowed and profit per car declined. The outlook raises questions about whether Carvana's rapid expansion can justify its high stock valuation. Carvana reported a record second-quarter adjusted EBITDA of $769 million, narrowly beating the $766.2 million consensus estimate among analysts tracked by Bloomberg, as vehicle sales rose 38% to more than 197,300. Still, sales growth slowed...

The Last Word On Kernen Vs. Grantham Submitted by QTR's Fringe Finance Last week, CNBC’s Andrew Ross Sorkin and Joe Kernen interviewed legendary value investor Jeremy Grantham, and for about six minutes the conversation turned into one of the better moments I’ve seen on financial television in a long time. Grantham, the 86-year-old co-founder of GMO, whose case for the market being overvalued I highlighted last week, built one of the world’s most respected institutional asset management firms. Over the course of his career, he became famous for identifying some of the largest...