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Former Vice President Joe Biden formally accepted the Democratic nomination for president on Thursday from Wilmington, Delaware, on the final night of the 2020 Democratic National Convention.At age 77, Biden became the oldest major party nominee for president.Biden capped off a four-night pitch to Americans that Democrats have a broad coalition ready to take over the White House."But while I will be a Democratic candidate, I will be an American president,” Biden said as he accepted the nomination. “I'll work hard for those who didn't support me, as hard for them as I did for those who did vote for me. That's the job of a president, to represent all of us not just our base or our party. This is not a partisan moment. This must be an American moment."In making his case for the presidency, Biden called the 2020 election a “life-changing election.”This will determine what America is going to look like for a long, long time," Biden said. "Character is on the ballot. Compassion is on a ballot. Decency. Science. Democracy. They're all on the ballot, who we are as a nation, what we stand for, most importantly, who we want to be, that's all on the ballot."The sights of this year’s convention stood in stark contrast from past conventions. There was no balloon drop. Delegates remained home.Instead, moments after Biden finished his speech to a largely empty room, he and running mate Kamala Harris stepped outside, wearing masks, to a crowd of people in their vehicles who watched the speech like it was a drive-in movie.DNC takes a comedic turnSeinfeld actress Julia Louis-Dreyfus emceed Thursday’s portion of the convention, and attempted to add more comedy than most convention viewers are accustomed to.Her jokes often were pointed at the expense of President Donald Trump. Trump in the past has not reacted well to jokes at his expense, once threatening to sue “Saturday Night Live” for a skit featuring a parody of him.A few of the jokes Louis-Dreyfus told throughout the evening:"Joe Biden not only knows how to read, but also he reads everything"“30330 (a number to text the Biden campaign to offer support). That would be the president's golf score if he didn't cheat. OK, look. I'll admit that was a little nasty. But we all know he's a cheater. And I'm proud to be a nasty, nasty woman.""Just remember. Joe Biden goes to church so regularly that he doesn't even need tear gas and a bunch of federalized troops to help him get there."John Lewis rememberedRep. John Lewis was remembered by Democrats on Thursday following his death last month. The civil rights leader who represented Georgia died on July 17.Atlanta Mayor Keisha Lance Bottoms, who was reportedly considered to be Biden’s running mate, stressed the importance of voting after civil rights leaders like Lewis marched for that right.“We have cried out for justice, we have gathered in our streets to demand change, and now, we must pass on the gift John Lewis sacrificed to give us, we must register and we must vote,” Lance Bottoms said.Trump silentWhile President Donald Trump sent several all caps tweets on Wednesday in response to the convention, the president had not tweeted anything about the DNC as of when the convention ended. He did, however, send a single tweet as Biden wrapped up."In 47 years, Joe did none of the things of which he now speaks. He will never change, just words," he said. Trump will get his turn at the microphone next week as the Republicans hold their convention starting Monday. 3504
FLORIDA — Police say former Buffalo Bills and Miami Dolphins player Richie Incognito was involved in a disturbance at a Lifetime Gym in Boca Raton, Florida on Wednesday morning.Police said Incognito was involuntarily committed under Florida's Baker Act. The act allows officials to apprehend and order a mental evaluation of a person.Incognito reportedly threw a dumbbell at a man at the gym and that's why police were called, according to TMZ.com.Incognito played for the Buffalo last season. In the buildup to the draft, he took a restructured contract with the Bills, publicly fired his agent on Twitter after that deal was signed, and retired shortly after that. The Bills officially added him to the reserve/retired list on April 12.Once Organized Team Activities started around the league, Incognito -- according to ESPN -- wanted to make a return to the NFL, despite retiring from the league and team just one month prior. The Bills granted his reported wish, releasing him off the reserve/retired list on Monday.The move officially made Incognito an unrestricted free agent, able to be signed by any other team. Incognito played in Buffalo for three seasons.An NFL investigation found that when Incognito was with the Dolphins in 2013, he and two others engaged in persistent harassment directed at teammate Jonathan Martin.Earlier this year Martin was?charged with threatening?Incognito and former Dolphin Mike Pouncey as a result of a?post on his Instagram page showing a shotgun and ammo. 1547

For those would-be investors wanting to jump into the stock market but wondering which stock to buy, legendary investor Warren Buffett has a suggestion: Try buying 500 stocks instead.“In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett said at Berkshire Hathaway’s annual meeting in May. But what is the S&P 500, and how do you invest in one of its funds?Here’s an intro to how S&P 500 funds work, and whether one might be a good fit for your portfolio.What is the S&P 500?The S&P 500, or S&P, is a stock market index comprising shares of 500 large, industry-leading U.S. companies. It is widely followed and often considered a proxy for the overall health of the U.S. stock market.Standard & Poor’s, an American investment information service, created the index in 1957. Every quarter, its investment committee meets to review which stocks belong in the index based on each company’s market size, liquidity and group representation. Today, 505 stocks constitute the index, since some of the 500 companies have more than one class of shares.Contrary to popular belief, the stocks forming the index are not the 500 biggest U.S. companies, but they are arguably the 500 most important companies. Over .2 trillion is invested through the index, with these 505 stocks representing about 80% of the total U.S. stock market’s value.The S&P 500 is a cap-weighted index, meaning each stock within the index is weighted according to its market capitalization, or total market value (number of outstanding shares multiplied by current market price). The larger the company, the greater its influence on the index.As of Aug. 31, 2020, these are the top 10 companies by index weight in the S&P 500:Apple.Microsoft.Amazon.Facebook.Alphabet, Google’s parent company (shares in classes A and C).Berkshire Hathaway.Johnson & Johnson.Visa.Procter & Gamble.How do you invest in the S&P 500?An index is a measure of its underlying stocks’ performance, so you cannot directly invest in the index itself. Buying every company’s shares would be an arduous task (think 505 separate transactions), but thankfully there are index funds and exchange-traded funds, or ETFs, that replicate the index, effectively doing that work for you.While all S&P 500 funds track the holdings of this index, an investor must consider whether using an index fund (a passively managed mutual fund) or an ETF makes the most sense for them. The good news when weighing index funds versus ETFs is that there are solid S&P 500 options in each category, and all of these products leverage the diversity of the index itself.Because the S&P 500 is weighted by each company’s market capitalization, the larger companies in the index can sometimes have an outsize impact on the performance of the larger index. In other words, a big dip in price for Apple shares can create a dip in the index as a whole. Because of this, some investors prefer to purchase the S&P 500 in an equal-weighted format, so that each company has the same impact on the index. This is meant to create an index that is more representative of the overall U.S. market.After deciding your preference for an index fund or ETF, cap-weighted or equal-weighted, you can begin narrowing down which S&P 500 fund to purchase. To minimize your costs, look into each fund’s expense ratio — the percentage of your assets you’ll pay in fees each year — to see how they compare.Fees are important here since all of these funds track the same index, which means their returns should be roughly the same. The lower the fee, the more of that return you keep.Should you invest in the S&P 500?There are a number of things to think about before you choose any investment. But an S&P fund can generally be a good choice if you want to add broad exposure to the U.S. stock market to your portfolio.“The S&P 500 is a key part of a diversified investing strategy because it’s a good bet that the U.S. economy will continue to succeed and grow in the long term,” says Tony Molina, senior product manager at Wealthfront. The U.S. has the largest economy and stock market in the world, and is one of the most resilient and active, especially when it comes to innovation. That’s why it’s a no-brainer to include the S&P 500 as part of your portfolio.”Larger companies are generally more stable to invest in because they are well-established and widely followed. Thus, these stocks usually have less risk and lower volatility. The S&P 500 combines large companies across various industries, so investors access a broad, diversified mix of companies when investing in it.Choosing an index fund or ETF can also help investors avoid — or at least minimize — the behavioral pitfalls from stock-picking, which is a losing strategy, says Dejan Ilijevski, president of Sabela Capital Markets.Ilijevski cites the May 2018 study by professor Hendrik Bessembinder at Arizona State University, which examined investments in publicly traded U.S. stocks between 1926 and 2016 and found that just over 4% of the companies accounted for the total wealth created.“Picking those few individual winners is impossible,” Ilijevski says. “Your best bet is to own as much of the market with a fund that tracks the index.”Using index funds and ETFs can help investors generate strong returns while also minimizing their costs, says Kevin Koehler, chartered financial analyst and director of the investment strategy group at Miracle Mile Advisors in Los Angeles.“Investing in the S&P 500 the past 25 years would have given an investor over a 10% annualized return, proving that an investor does not need to be paying high expenses to get good market returns,” Koehler says.Are there drawbacks to investing in the S&P 500?There are caveats to consider. The S&P 500 consists of only large-cap U.S. stocks. Portfolio diversification encompasses buying mid- and small-cap companies along with large-caps; allocating funds to international companies along with domestic ones; and including bonds, cash and potentially other asset classes with stocks.Koehler also notes drawbacks in the S&P 500 related to its market-cap weighting.“As passive investing increases, investors are continually investing in S&P 500 funds, which has contributed to a ‘rich get richer’ problem, where the largest stocks are getting larger due to S&P 500 investing, rather than individual stock investing,” Koehler says. “This can lead to higher volatility, as active managers sell an individual stock on top of index funds selling a portion. The market could continuously be overvalued compared to its underlying value.”But relative to the downsides of many investment types, the flaws of S&P 500 funds seem relatively minor, especially when used as a part of your overall portfolio and held for the longer term. This helps explain why icons like Buffett have so publicly endorsed them.“I happen to believe that Berkshire is about as solid as any single investment can be, in terms of earning reasonable returns over time,” said Buffett at the May meeting, speaking about the investing company he’s turned into an empire. “But, I would not want to bet my life on whether we beat the S&P 500 over the next 10 years.”More From NerdWallet4 Ways Women Can Invest in Other WomenHow the Pros Ride Market Volatility — and Why You Shouldn’tIf Doing Less Means Saving More, Try These 5 Money MovesTiffany Lam-Balfour is a writer at NerdWallet. Email: tlambalfour@nerdwallet.com. 7573
First lady Melania Trump unveiled the 2020 White House Christmas decorations on Monday morning.The display, which Trump named "America the Beautiful," pays tribute to "the majesty of our great Nation."Photos showed the White House residence decorated with several ornately decorated Christmas trees and other winter themes.In a tweet, the first lady said that volunteers "from all across America" decorated the White House over the weekend."Thank you for your time, enthusiasm & devotion to make sure the spirit of peace & joy fill the historic rooms & halls of the People's House!" Trump said.The frst lady has led efforts to decorate the White House for the holidays since President Donald Trump assumed office in 2017. Her 2020 display will mark her last following Trump's defeat in the 2020 presidential election.The 2020 display was also her first since recordings leaked in October of her dismissing her work in decorating the White House."I'm working ... my a** off on the Christmas stuff, that you know, who gives a f*** about the Christmas stuff and decorations? But I need to do it, right?" the first lady said in recordings leaked to CNN.See the first lady's 2020 White House Christmas display in the video below. 1244
FORT LAUDERDALE, Fla. — Police apprehended a kangaroo that was on the loose Thursday morning in Fort Lauderdale.Residents living near North Andrews Avenue and 13th Street reported seeing a runaway kangaroo hopping through their neighborhood.Fort Lauderdale police officers arrived and, with the help of wildlife officers, were able to leash the kangaroo and guide the animal into the back of a police cruiser.It was not immediately known how the kangaroo made its way to Fort Lauderdale, but the marsupial avoided a trip to the slammer.Instead, the Australian tourist was taken to the South Florida Wildlife Center. Who caught a glimpse of #FLPD’s newest mate hoping through our community this morning? Officers in District 2 worked together to safely capture this kangaroo and turn it over to the South Florida Wildlife Center. pic.twitter.com/y4rZ5QQApS— Fort Lauderdale Police (@FLPD411) July 16, 2020 This story was originally published by Peter Burke on WPTV in Palm Beach, Florida. 1006
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