It’s no coincidence that Facebook is killing the Oculus Rift S VR headset on the same day it’s announcing the Oculus Quest 2. On paper, the Go, Quest, and Rift families were supposed to be different devices for different markets, but they’ve coalesced over a much shorter period of time than people expected. Just as that meant the end for Go earlier this year, the death of Rift was a long-premeditated killing, arguably more a matter of when than whether.
The VR market was different when Facebook segmented Oculus products into three families. Go was a cheap 3DoF media viewer with minimal gaming potential, designed to appeal to people who didn’t want to spend more than $200 on a standalone VR headset — Walmart was a big Go customer. Quest was a $400 6DoF standalone alternative that was better than Go in every way, and highly capable of gaming, but not equivalent to a VR-ready PC. Lastly, Rift S was there as a $400 headset solely for PC VR purposes, with marginally better performance than Quest when connected to a Windows machine, but no ability to be used on its own.
Over the past year, Facebook has worked aggressively to make Quest a viable replacement for the Go and Rift. To win over Rift users, Oculus Link turned Quest into a Rift alternative that worked nearly as well for tethered PC VR. As a nod to Go users, the Quest 2 drops from $400 down to $300, closer to Go’s original $200 price point, and reaching the “magic” price point that typically leads to hockey stick growth for compelling products.
Make no mistake: Quest 2 is compelling. Thanks to its Snapdragon XR2 chipset and massive display upgrades, Quest 2 will be a better standalone VR headset and a better PC VR headset than its already capable predecessor, at a lower price than any Rift. Its inside out tracking and screen resolution should run circles around HTC’s competing Vive Cosmos, and that’s before taking into account Quest 2’s convenience, size, and weight. Assuming Facebook can get enough units into stores — and that people don’t object to the latest Oculus/Facebook account policies — there’s every reason to believe this new model will be a smash hit.
It’s hard to picture where Rift S would have fit into the Oculus lineup after Quest 2 showed up. Rift S wasn’t so much a step forward as a step sideways when it was announced, focusing on improved comfort and convenience rather than major visual or other spec improvements. In retrospect, Facebook set the stage for Rift to disappear at this point. The company made clear that while it was working on next-generation Rift-ready innovations, it didn’t have any immediate plans to commercialize them, and planned to test them in its own offices — perhaps with enterprise applications — ahead of any general release. For consumers, the message was not to expect Rift 2 anytime soon.
Facebook has predicted that standalone VR, not PC-tethered VR, is the future of virtual reality technology. While killing Rift S and offering Quest 2 at an aggressive price suggests that Oculus is already betting everything on standalone VR, the reality is that the Quest family is capable of covering both the standalone and tethered bases — at a better price than Rift S, besides. That means there’s no need for PC VR fans to abandon their software libraries or give up on tethered experiences, though my best guess is that Facebook will spend the next two years making standalone experiences as appealing as possible.
Whether Quest 2 will be enough to fully displace HTC’s Vive, Valve’s Index, and other vendors’ headsets remains to be seen, but this was the right choice for Rift S, which didn’t have a viable future given its features, specs, and price point. At some point, there may be an Oculus headset with higher-end innovations that millions of people would actually pay for, but for now, focusing on improving VR’s appeal to the masses is exactly the right move.
An Irish tourist in Rome defaced the Colosseum by carving his initials into the walls of the ancient structure, according to a report
Private security at Rome’s Colosseum caught a tourist carving his name onto a pillar on the ancient structure, CNN reported.
The tourist, identified as a 32-year-old man visiting from Ireland, used a metal point to inscribe his first and last initials on the structure’s first floor.
In Italy, damaging a historical or artistic landmark is a crime that could result in up to one year in prison or a minimum fine of $2,400 (€2,065), according to CNN.
One tourist who was caught carving a letter into the walls of the Colosseum in 2014 was fined more than $23,000 (€20,000) and charged with four months in prison.
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Private security at Rome’s Colosseum on Monday caught a tourist carving his first and last initials onto a pillar of the 2,000-year-old structure, CNN reported.
Italy’s Carabinieri police told CNN that the Colosseum’s security team identified the tourist as a 32-year-old man visiting from Ireland.
The tourist, whose name has not yet been released, used a metal point to carve his initials about 2 inches high onto a pillar on the Colosseum’s first floor. The Carabinieri police told CNN that the visitor is accused of damaging a historical and artistic landmark.
In Italy, damaging a historical or artistic landmark is a crime that could result in up to one year in prison or a minimum fine of $2,400 (€2,065).
Representatives for the Colosseum Archaeological Park, and Italy’s Ministry of Culture and Tourism, which oversees the preservation of artistic and cultural sites and property, did not immediately respond to Insider’s requests for comment.
“Carving one’s initials, in addition to being a crime, seems to be a gesture of those who want to appropriate the monument. Better take a selfie!” archaeologist Federica Rinaldi told CNN of the Roman amphitheater.
The Colosseum reopened to tourists on June 1 after being temporarily closed for three months due to the coronavirus pandemic.
It’s not the first time a visitor at the Colosseum has inscribed their initials or name on the ancient walls
Monday’s occurrence at the Colosseum is not the first instance of a tourist writing on the walls of the Roman amphitheater, which is a UNESCO World Heritage Site.
For example, in 2017, a Colosseum tour guide reported a visitor from Ecuador to police after seeing them carve the names of their son and wife, as well as the year “2017,” on the walls of the monument, according to the Associated Press.
In 2015, two tourists from California were caught by police after they carved their initials onto a wall in the amphitheater and took a selfie of the inscriptions, the Guardian reported. A year prior, a tourist from Russia was given a four-month prison sentence and fined more than $23,000 (€20,000) after carving a letter into the Colosseum, according to the Guardian.
Other historic Italian landmarks and museums have been subject to damage by tourists
A recent example occurred in August, when an Austrian tourist at Italy’s Museo Antonio Canova sat on the sculpture “Paolina Borghese as Venus Victrix” for a photo and broke two toes off of the monument, according to a post on the museum’s official Facebook page.
Artnet News said that the tourist was attempting to take a selfie while sitting on the neoclassical sculptor Antonio Canova’s plaster “Paolina Borghese as Venus Victrix” at the museum in Possagno, which is just over an hour outside Venice.
Insider’s Monica Humphries reported that the tourist, whose name was not released to the public, apologized to the museum for the damage.
In recent years, officials in popular Italian tourist cities in Italy have enacted fines and rules in an attempt to control unwelcome tourism behaviors. In 2019, officials in Rome began implementing a fine of $450 for any tourists who sit on the iconic Spanish Steps, which were made famous in the 1953 film “Roman Holiday” starring Audrey Hepburn and Gregory Peck.
Tourists from outside of Rome were known to gather on the steps to eat and sit, but locals apparently weren’t fond of the crowds of people that would cover the staircase, which was built in the 1720s.
Officials in Rome also extended the ban on sitting, gathering, eating, and drinking to other well-known tourist spots in the city, including the popular Trevi Fountain.
Read the original article on Insider
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7 Sin Stocks To Buy That Will Outperform the S&P 500
While the S&P 500 and a wide range of stocks continue their September slide, many investors are understandably jittery, wondering if a second market crash is coming this year. In response, they’re searching for industries that can offer more stability, but also growth and income over the coming quarters. One such group are the so-called “sin stocks,” which benefit when humans indulge in vices.Although there may be different definitions of sin stocks, these businesses include those in alcohol, tobacco, cannabis, gambling, adult entertainment, weapons and defense industries. What is viewed as a sin stock today may also change over time.Recent research by David Blitzo of Robeco Asset Management in Rotterdam, the Netherlands, and Frank J. Fabozzi of EDHEC Business School in Nice, France, highlights how “various studies … [of] the historical performance of sin stocks … [show] they have delivered significantly positive abnormal returns.”InvestorPlace – Stock Market News, Stock Advice & Trading TipsThat is to say, sin stocks outperform the broader market time and again, and that isn’t based on one study; it’s based on many studies, by different researchers at different times.Sales figures from companies back up the anecdotal evidence that even in economically difficult periods, tobacco and alcohol consumption remain fairly stable. In fact, during the early weeks of the pandemic, alcohol sales in the U.S. increased by 27%. * 7 Hot Stocks to Buy on Robinhood Now Therefore, for investors whose convictions allow them to invest in these firms, such stocks can provide meaningful diversification during volatile market periods. On the other hand, some sin stocks, particularly casino stocks, have suffered greatly as gambling locations remain closed due to lockdowns.With all that in mind, here are seven sin stocks to invest for the long-run: * Advisor Shares Vice ETF (NASDAQ:ACT) * Constellation Brands (NYSE:STZ) * ETFMG Alternative Harvest ETF (NYSEARCA:MJ) * iShares U.S. Aerospace & Defense ETF (CBOE:ITA) * Smith & Wesson (NASDAQ:SWBI) * VanEck Vectors Gaming ETF (NASDAQ:BJK) * Vanguard Consumer Staples Index Fund ETF (NYSEARCA:VDC)Most sin industry stocks also bear juicy dividends. Thus, they could be appropriate for investors seeking passive income, especially in a low-interest environment such as this. Sin Stocks to Buy: Advisor Shares Vice ETF (ACT)Source: Shutterstock 52-Week Range: $16.16 – 26.95Dividend Yield: 2.41%Net Expense Ratio: 0.99 % per yearOur first choice is an exchange-traded fund (ETF), best for investors who would rather not risk capital on one company. The AdvisorShares Vice ETF concentrates mainly on U.S.-listed alcohol and tobacco companies. It may also hold stocks of firms conducting federally legal cannabis business, per the U.S. government.As regular InvestorPlace readers likely know, marijuana remains illegal at the federal level in the U.S. At the state level, legal status depends on the laws of the individual state. Outside of Canada, which was the first G7 country to nationally legalize cannabis, the size of the legalized marijuana industry remains very small. Yet that market is expected to reach $40 billion by 2023.In terms of ETF composition, cannabis-related firms top the list with a 40.9% weighting. Next are alcohol (27.1%), Restaurant & Entertainment (12.2%), and Tobacco with Cannabis Exposure (11.3%). Close to 80% of the companies come from North America, followed by Europe (13.3%).ACT’s top ten holdings comprise around 60% of total net assets, which stand close to $10 million. ACT’s top five companies are Boston Beer (NYSE:SAM), Thermo Fisher Scientific (NYSE:TMO), Abbott Laboratories (NYSE:ABT), Turning Point Brands (NYSE:TPB) and Abbvie (NYSE:ABBV). A closer examination of the holdings shows that there is considerable emphasis on life-sciences. For example, in Canada, Thermo Fisher undertakes cannabis compliance activities. Another holding is Scotts Miracle-Gro (NYSE:SMG), which is known for its fertilizer products, used by marijuana producers.So far in 2020, the fund is up around 3%. Yet since the lows seen in early spring, ACT is up around 55%. In fact, on September 16, it hit a 52-week high.Any decline toward the $22.5-level would make the fund more attractive for long-term investors. However, we’d like to underscore the high management fee as well as the fact that it is still a smaller size fund. Constellation Brands (STZ)Source: ShinoStock / Shutterstock.com 52-Week Range: $104.28 – $210.65Dividend Yield: 1.62%Victor, New York-headquartered Constellation Brands’ website highlights that it is the fastest-growing large consumer packaged goods (CPG) company in the U.S. at the retail level. And in addition to the U.S., the global alcoholic beverage company has operations in Mexico, New Zealand and Italy as well.The group produces and markets beer, wine and a diverse range of spirits. Several of its well-known brands include Corona, Modelo, Pacifico, Robert Mondavi, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.In 2018, Constellation Brands took a considerable stake in Canada-based Canopy Growth (NYSE:CGC), providing the company with managerial and financial backing. There may be investors who are hoping that Constellation Brands, which holds a 38% stake in the company, will acquire the remaining shares of Canopy Growth. Given the question marks surrounding the cannabis industry and the global economy, we don’t expect such an acquisition to happen in the near-term.Year-to-date (YTD) the stock is down about 2%. Part of the weakness in price may come from the fact that its wine and spirits business has seen lower shipments in 2020. But the beer business is strong, posting the tenth consecutive year of rising shipments. * 7 Hot Stocks to Buy on Robinhood Now Since the lows seen in March, the shares are up about 80%. As a result of the rapid increase, forward P/E and P/S ratios have also been pushed up, standing at 20.75 and 4.33 respectively. We’d look to buy the shares around $170. ETFMG Alternative Harvest ETF (MJ)Source: Shutterstock 52-Week Range: $8.81 – $23.44Dividend Yield: 10.76%Expense Ratio: 0.75%Our next choice is an ETF from the cannabis space. The ETFMG Alternative Harvest ETF tracks the Prime Alternative Harvest index. MJ stock invests in companies that have exposure to global medicinal and recreational cannabis legalization moves.Pharmaceuticals (56.4%), Tobacco (24.7%) and Biotechnology (9.1%) are the top 3 sectors for MJ, which has 35 holdings. The top ten holdings comprise about 60% of total net assets, which are around $550 million. MJ’s top five companies are GW Pharmaceuticals (NASDAQ:GWPH), Cronos Group (NASDAQ:CRON), Canopy Growth (NYSE:CGC), Corbus Pharmaceuticals (NASDAQ:CRBP) and Aurora Cannabis (NYSE:ACB).It’s important to note that U.K.-based GW Pharmaceuticals, a leading cannabinoid-focused biotech company, is MJ’s largest holding, accounting for 11.1% of its assets. Its drugs are widely used to treat spasms in multiple sclerosis patients. The fund also owns shares of the companies providing ancillary products and services to the cannabis companies.So far in 2020, Canada-based marijuana stocks have been plumbing new lows. Producing cannabis is capital-intensive, meaning pot firms make substantial initial and ongoing investments. These companies are also vulnerable to supply and demand issues.Over the past year, a wide range of Canadian regulatory logjams have resulted in supply problems for companies like Cronos, Canopy Growth, and Aurora Cannabis. Plus, most of the demand for cannabis is currently limited to Canada where there is still a resilient black market. As a result, the next few months may see consolidation in the industry north of the border.YTD, the fund is down about 36%. It is likely that MJ may re-test its lows seen earlier in March. Investors who are able to spare risk capital may consider investing for the long-run around $7.5. iShares U.S. Aerospace & Defense ETF (ITA)Source: Shutterstock 52-Week Range: $112.47 – $240.62Dividend Yield: 2.26%Expense Ratio: 0.42%The iShares U.S. Aerospace & Defense ETF provides exposure to U.S. companies that manufacture commercial and military aircrafts and other defense equipment. ITA, which has 35 holdings, tracks the Dow Jones U.S. Select Aerospace & Defense Index.The top ten companies comprise 75% of net assets under management, which stand close to $2.7 billion. Lockheed Martin (NYSE:LMT), Raytheon Technologies (NYSE:RTX) and Boeing (NYSE:BA) are the top three holdings for ITA. Put another way, investors are relying on a few major players for returns. * 7 Hot Stocks to Buy on Robinhood Now Many analysts concur that U.S. defense spending is likely to remain high. However, the headwinds affecting orders, especially for Boeing, may stay with us for some time. This fact is potentially already reflected in the price, which is down close to 30% YTD.Contrarian and dividend-seeking investors may find this fund appealing. Smith & Wesson (SWBI)Source: Supakorn Pe / Shutterstock.com 52-Week Range: $4.16 – $22.40Dividend Yield: 1.26%Springfield, Massachusetts-based firearms manufacturer Smith & Wesson is our next stock. The company was founded in 1852. Earlier in August, it spun off American Outdoor Brands (NASDAQ:AOUT) as a separate entity.In August, the company released FY 2020 annual report and highlighted that nationwide firearm demand remained extremely high. Sales numbers and anecdotal evidence suggest that guns have recently been flying off the shelves in many parts of the country.During the year, the group introduced 230 new firearms. A third of those were brand new products, while the rest were line extensions. Net sales for the fiscal year were $678.4 million, an increase of 6.3% from a year ago. The firearms segment gross sales represented a 10% increase over fiscal 2019 sales. The company’s gross margins have been climbing and now stand at a robust 40.2%.YTD, SWBI shares are up close to 70%. The upcoming U.S. Presidential election may bring volatility in the stock price. However, long-term investors may consider buying the dips. Its P/S and P/B ratios stand out, at 1.01 and 1.95 respectively. VanEck Vectors Gaming ETF (BJK)Source: Shutterstock 52 Week Range: $ 20.02 – 43.73Dividend Yield: 3.23%Expense Ratio: 0.65%The VanEck Vectors Gaming ETF provides exposure to companies in the global gaming industry. That includes casinos and casino hotels, sports betting, lottery and gaming services, and gaming technology and equipment.BJK, which has 42 holdings, tracks the MVIS Global Gaming Index. The top sector allocation is Consumer Discretionary (91.1%), followed by Real Estate (9.2%).The top ten holdings constitute over 55% of net assets, which stand around $53 million. Flutter Entertainment (OTC:PDYPY), Galaxy Entertainment Group (OTC:GXYEF) and Draftkings (NASDAQ:DKNG) are the top three firms in BJK.At present, in the U.S., DraftKings and FanDuel, which is part of Europe-based Flutter Entertainment, are the two main online platforms for sports and sports fantasy betting. DKNG stock, which went public in late April, is up over 400%. Flutter Entertainment, which is one of the largest gambling companies in the world by revenue, is also up about 23%. * 7 Hot Stocks to Buy on Robinhood Now However, the fund as a whole is down about 9% so far in 2020. Investors who want to capitalize on the potential of sports betting as well as the growth in fantasy sports both in the U.S. and worldwide may want to do further due diligence on the fund. We’d look to buy the dips. Vanguard Consumer Staples Index Fund ETF (VDC)Source: Shutterstock 52-week range: $120.70-$172.31Dividend Yield: 3.05%Expense Ratio: 0.10% per yearOur final pick is another ETF. However, it’s not a pure play on sin stocks. Instead the Vanguard Consumer Staples Index Fund ETF provides exposure to a range of large-, mid-, and small-cap U.S. stocks in the consumer staples sector. As a result, this fund is defensive in nature.VDC, which has has 94 holdings, tracks the Spliced US IMI Consumer Staples 25/50 Index. The most important sectors (by weighting) are Household Products, Soft Drinks, Packaged Foods & Meats and Hypermarkets & Super Centers. In total, these four sectors make up about three-quarters of the fund.The top ten holdings comprise 65% of total net assets, which stand at $6.5 billion. These are businesses with competitive positions and strong balance sheets and revenue streams. Among those ten companies are two businesses that would be considered sin stocks, i.e., Philip Morris International (NYSE:PM) and Altria (NYSE:MO).Phillip Morris International is a global cigarette and tobacco manufacturing company, whose products are sold in over 180 countries outside the U.S. The most recognized brand is Marlboro. Altria’s subsidiaries, on the other hand, include Philip Morris USA, which is engaged in the manufacture and sale of cigarettes in the U.S. as well as several other brands which manufacture, produce and market tobacco products and wine.In 2020, the fund has returned about 0.3%, i.e. it’s flat. Given the health and economic uncertainties due to the pandemic, market participants may consider allocating some capital into VDC. We’d look to buy the dips, especially around $155 or below.On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article.Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. She also publishes educational articles on long-term investing. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America’s 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 7 Sin Stocks To Buy That Will Outperform the S&P 500 appeared first on InvestorPlace.
Biden reaches out to Latino voters with plan to tackle inequalities
Joe Biden’s election campaign on Tuesday unveiled a plan to address the economic inequalities facing Latinos in America amid financial turmoil caused by the coronavirus pandemic, which has disproportionately harmed communities of color.
The plan was introduced a day after the anniversary of the mass shooting in El Paso, Texas, that took the lives of 23 people and where the shooter is accused in federal court of deliberately targeting Hispanics.
It comes as Biden, the presumptive Democratic nominee to face Donald Trump in November, attempts to build a bridge to Latino voters, who are poised to make up the largest share of US voters who are people of color in this election.
Senior campaign officials announced plans and commitments focused on investing in the economic mobility of Latinos, starting with education and healthcare, as well as a commitment to support the building of a Smithsonian Latino museum on the National Mall in Washington DC.
Biden had previously promised to introduce a sweeping immigration plan on his first day in office, including protecting recipients of the Daca program, affording protections and rights to qualifying, young, undocumented immigrants, known as Dreamers– and also undoing the Trump administration’s hardline international asylum policies.
“The policies of [the Trump] administration amount to an onslaught of violence and fear against the community. That ends when Joe Biden is president,” a senior campaign official said on a call with reporters on Tuesday morning.
Polling shows that while immigration remains a priority for Latino voters, so is healthcare, the economy and education. Young Latinos, like young voters across several demographics, say they care about climate change and racial justice.
Biden previously unveiled the “Lift Every Voice” agenda for African American communities, which included a call for the justice department to prioritize prosecuting hate crimes, and economic plans to help Black Americans affected by the coronavirus pandemic.
His Latino agenda also overlaps with Biden’s “Build Back Better” plan, an economic agenda that includes manufacturing, climate and caregiving. The plan promises “far reaching economic investment” into Latino communities through a first time homeowner credit and investment into Hispanic serving educational institutions. Its healthcare component promises to “tackle social determinants of health” by building on the Affordable Care Act.
The campaign reiterated promises to reshape the legal immigration system that the Trump administration has steadily dismantled. As well as hiring more immigration judges for the overstretched system, the campaign said it will review Trump’s decision to end temporary protected status (TPS), a longstanding program designed to prevent foreign nationals in the US from being deported back to countries devastated by natural disaster or civil unrest.
As president, Biden would create a path to citizenship for certain TPS recipients who have lived in the US for decades, the campaign said.
Since the primary, the campaign has moved left on immigration amid pressure from liberal activists. Still, Biden has resisted calls from progressives to eliminate Ice, the immigration and customs enforcement agency formed in the aftermath of the 9/11 terrorist attacks on the US, or to decriminalize undocumented border crossings, a proposal some of his primary rivals supported.
The plan comes as polling shows Biden leading Trump nationally and in key battleground states, including Florida and Arizona, where Latinos will make up a decisive share of the electorate. Yet some polls show Biden’s support waning among Latino voters, and particularly young Latinos who preferred his leftwing rival, Senator Bernie Sanders, during the primary.
With less than 100 days until the election, Biden’s campaign has ramped up its efforts to reach these voters. In recent weeks, the campaign has made several high-profile hires, including Julie Chavez Rodriguez, the granddaughter of Cesar Chavez, and Matt Barreto, the founder of Latino Decisions, a top Democratic polling firm. It also announced a $1m investment in Spanish-language outreach.
In 2016, Trump won nearly 30% of the Hispanic vote, a margin that has remained largely consistent.
There are signs that may be changing as a result of Trump’s handling of the coronavirus and his escalation of anti-immigrant sentiment and bigoted rhetoric. In the first months of 2020, 34% of Hispanics approved of Trump, according to Gallup. In the period from late May to June, that fell to 26%.
The cornerstone of the Trump campaign’s Latino outreach is in Florida, a state critical to his re-election prospects. But the state’s Hispanic electorate – once dominated by conservative Cuban Americans – is changing with an influx of Puerto Ricans to central Florida. The Biden campaign says it is investing heavily in these voters as it tries to pry the state from Trump in November.
Meanwhile, the Biden campaign is looking to turn out Latinos in rust belt swing states like Pennsylvania and Wisconsin, that Trump won by the narrowest margins in 2016.
• This article was amended on 5 August 2020 to remove a term inconsistent with the Guardian’s style guidelines on references to race.
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