Percentage of Americans
with a perfect (850) FICO
score. Some 20% of
Americans have a score
between 800 and 850
and 25% have a score
between 740 and 799,
according to credit
bureau Experian.WHAT STOCKS MILLENNIALS WANT
These are the top holdings
of U.S. millennial investors,
according to the Millennial
100 report by Apex Clear-
ing, a specialist in digital
wealth management.
Apex Clearing analyzed
more than 734,000 port-
folios. The average age
of investors in the study
was just over 31, and the
average account size was
about $2,300....and so should hard-hit
stocks. Despite some vola-
tility, the U.S. stock market
has continued to rally. As
concerns lessen, look for a
number of stocks hit hard
by the coronavirus to re-
cover, says Morgan Stanley.
For example, through mid
February, Las Vegas Sands
(symbol LVS), which owns
and operates three casinos
in Macau, had slipped 8%
from its January peak. In
early February, Macau offi-
cials closed all casinos for
half a month in an effort
to contain the virus.
Stock in Booking Hold-
ings (BKNG), formerly
Priceline.com, dropped 5%
from its high in early Janu-
ary. The online travel firm
has invested heavily in Chi-
nese travel firms, including
Trip.com, considered the
Expedia of China.
Starbucks (SBUX) has
some 4,100 locations in
China, its largest market
outside of the U.S. In late
January, it closed 2,000
stores temporarily. Shares
are down 4%.
Kobe Bryant was among the highest-paid basketball players
in NBA history before his 2016 retirement from the Los Angeles
Lakers. But before he retired, he decided he wanted to super-
charge his fortune and use it to inspire and give back. And the
best way to do that, he decided, was as an investor.
In 2013, Bryant cofounded, with entrepreneur Jeff Stibel,
a venture capital firm specializing in media and technology.
Bryant Stibel, which now has more than $2 billion in assets, got
a boost when Coca-Cola took a majority stake in sports-drink
maker Bodyarmor; that parlayed Bryant’s $6 million invest-
ment into more than $200 million. Since then, Bryant Stibel
has invested in Epic Games—of Fortnite fame—as well as hot-
sauce maker Cholula and Chinese e-commerce giant Alibaba.
Bryant brought the same uber-competitive ethic to every-
thing he did. He recognized the value of teamwork at the in-
vesting firm and was especially focused on bringing in—and
bringing along—former athletes. When he died in late January,
his net worth was an estimated $600 million.KOBE BRYANT, INVESTOR
More states are legalizing
marijuana for medicinal
or recreational use...33
for medicinal, 11 for re-
creational. With 66% of
Americans in favor of legal
weed for adults, those
numbers will continue
to grow. N.Y. and N.J. are
both likely to okay mari-
juana for recreational use
this year. Momentum is
growing in several other
states, too: Ariz., Conn.,
Fla., N.M. and R.I., to
name just a few.From The Kiplinger Letter
MORE STATES
LEGALIZE WEEDThe average increase in
401(k) balances in 2019,
according to a review of
17.3 million accounts by
Fidelity Investments. The
average balance rose to
$112,300 from the end of- The average IRA
balance rose by the same
percentage, to $115,400.
13.5%11.2%5.8%4.3%3.7%3.1%3.0%2.6%17 %
1.2%
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