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Former FBI Director James Comey on Sunday called the House Intelligence Committee Republicans' year-long Russia investigation "a wreck" that damaged relationships with the intelligence community and the federal court that grants warrants to surveil foreigners.The committee released a redacted version of the GOP report on the panel's Russia probe Friday, which found no evidence of collusion between the Trump campaign and Russia in its attempt to influence the 2016 presidential election. The report also disputed the intelligence community's assessment that Russian President Vladimir Putin tried to help elect Donald Trump.The committee also released a redacted Democratic dissent document that said collusion exists and that Republicans failed to investigate key aspects of the matter.Asked on NBC's "Meet the Press" whether the committee served "a good investigative purpose," Comey responded: "Not that I can see," adding that the probe became politicized "and it wrecked the committee, and it damaged relationships with the FISA Court, the intelligence communities. It's just a wreck."Comey said the resulting GOP report "strikes me as a political document."Trump tweeted about the report on Friday evening, saying it backs his claims that there is no truth to the allegations that his campaign colluded with Russia in Moscow's attempt to interfere in the election."House Intelligence Committee rules that there was NO COLLUSION between the Trump Campaign and Russia," Trump wrote. "As I have been saying all along, it is all a big Hoax by the Democrats based on payments and lies. There should never have been a Special Councel (sic) appointed. Witch Hunt!" Trump wrote on Twitter.Comey disputed the President's assertions when asked during the interview Sunday whether they matched his views."That is not my understanding of what the facts were before I left the FBI, and I think the most important piece of work is the one the special counsel's doing now," Comey said.Comey, who was fired by Trump in May, is on a publicity tour to promote his newly published memoir, "A Higher Loyalty: Truth, Lies, and Leadership," which paints a critical portrait?of the President. In the book, Comey calles Trump "unethical" and "untethered to the truth" and compares his presidency to a "forest fire."The book prompted a furious response from Trump, who has repeatedly attacked the former FBI director on Twitter, calling him a "leaker" and a "liar."Asked on Sunday whether he would consider Trump a credible witness if the President were to sit down for an interview with special counsel Robert Mueller, Comey said: "I have serious doubts about his credibility.""Whether he were under oath or not?" host Chuck Todd asked?"Correct," Comey said. "And sometimes people who have serious credibility problems can tell the truth when they realize the consequences of not telling the truth in an interview or in the grand jury would be dire. But you would have to go in with a healthy sense that he might lie to you." 3083

Fischer: "The new nickname will not be announced immediately because trademark issues are pending...but insiders were told today that the 'thorough review' announced July 3 has concluded." https://t.co/zjyXTUpzM5— John Ourand (@Ourand_SBJ) July 13, 2020 261

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

Flywheel has filed for bankruptcy.The fitness company was in business for 10 years and once had 40 studios across the United States.Earlier this year, Flywheel lost a major legal battle to its competitor.Peloton sued Flywheel alleging the company copied its technology used to create the in-home bikes.The patent infringement case initially caused Flywheel to close only a dozen of its studios along with all virtual classes.The pandemic later forced the company to layoff nearly all staff and close all studios.Flywheel hasn't commented on the bankruptcy filing. 571

FRESNO, Calif. (KGTV) - More than 200 Marines and Sailors from Camp Pendleton have been helping in the Creek Fire fight for nearly two weeks."This is why Marines sign up, this is why they join the Marine Corps, is to serve," Commanding Officer of the 7th Engineer Support Battalion, Lt. Col. Melina Mesta said during a trip to The Sierra National Forest last weekend.The 233 Marines and Sailors with the 7th ESB deployed September 19th after a day of firefighting training on Camp Pendleton. Lt. Col. Mesta said this task force is equipped with the right tools to pivot on a moment's notice to an unconventional mission like this."Like we say in the Marine Corps, 'Any Climb, Any Place.' We like to adapt to our environment and anything that is asked of us," Operation Chief Master Sgt. Juan Guillen said.Mesta described the mission at the Creek Fire as a lot of manual labor, "really hard dirty work with some long hours."Master Sgt. Guillen said Marines and Sailors wake up at 5:30 a.m., wash up, and go to a briefing. Then they head out around 7:30 a.m. and work the fire line until around 6:30 p.m. That's an 11 hour work day every day, with breaks to keep them safe."They're assessing any hot spots any areas that could potentially flare up." Master Sgt. Guillen said there is also a night shift that patrols with the same mission.Master Sgt. Guillen acknowledged how difficult the work is and said Marines and Sailors appreciate what firefighters do. He said one of the differences in this work is where the heavy backpack filled with supplies sits on your back as a firefighter.He said Marines are used to having a heavy pack that sits high up on the back. This versus what they use on the fire line, which is much lower, closer to the waist to allow for bending and work closer to the ground.During their deployment, containment of the fire jumped 22% to 44%, making a tangible difference that hits close to home."It's an honor to be back here and help out the community. I spent a lot of time up here camping near where the Creek Fire's at." Master Sgt. Guillen said he grew up in Fresno, his parents were migrant workers in the fields.He said he's thankful to see businesses nearby opening back up now that the fire's threat is dwindling."We're here to support as long as needed and the mindset of the Marines and Sailors that are out here is that mission accomplishment is our priority," he said.All of the Marines and Sailors at the Creek Fire volunteered for this mission. They do not have an end date to head back to Camp Pendleton. 2554