Opinion: Wearables will explode after Apple Watch debut

Apple is expected to give more details about its smartwatch at a "special" event on March 9.

Yes I know, wearables like Google Glass didn't do very well in their initial launch. The current crop of smartwatches and fitness bands are good, but they're not exactly mainstream.

But I believe Apple's smartwatch will provide the necessary momentum to get people using wearables, in spite of all the naysayers.

When Apple (AAPL, Tech30) launched the first iPad, many said it was just a big iPod Touch and would not take off. On the other hand, I predicted the iPad would create a computing revolution that would rapidly be embraced by business and education.

Well, here we go again.

It will only take a small percentage of Apple fans to buy a smartwatch to create massive sales numbers. In addition, prospective buyers are likely to be influenced by social media as their friends and family members post information about their smartwatch usage.

Additionally, pulling out your phone to see who is calling or texting you is a hassle. The convenience of glancing at your watch to receive information and respond is a big benefit.

On top of it all, I predict people will find more innovative uses for wearables once entrepreneurial app designers start creating more applications for these devices.

But I'm not suggesting that Apple will rule the wearable market.

Let's face it, there are more Android smart devices than iOS devices. And the smartwatch business is filled with competitors.

If you're smart, creative and capitalize on market trends, you can get break into this market and make it big, especially if you focus on niche customers.

Related: The hottest gadgets at the Mobile World Congress 2015

Here's one example of how a tech company could stack the deck in its favor: Focus on aging Baby Boomers and their kids.

A consumer electronics company could design a smartwatch filled with apps designed for people who are 70 years old and older. Target customers would be Baby Boomers' children who act as caregivers, trying to keep their parents healthy and safe.

The watch would have sensors to detect blood oxygen levels, blood pressure, pulse and temperature, and much more. If a wearer falls, the accelerometer in the watch would activate an alarm and send a text message to the caregiver.

If the wearer has Alzheimer's and goes missing, the watch's GPS and digital assistant will help get them home, and let the caregivers locate them.

By serving a rapidly growing niche, even no-name firms could have the chance to create a successful wearable business in a field dominated tech heavyweights like Apple and Samsung (SSNLF).

But there's no need to stop with just smartwatches. The possibilities for wearables are endless.

Our ability to miniaturize, virtualize, embed, and integrate will enable entrepreneurs to create a wide array of wearables that will revolutionize how we live, work, and play.

I predict that over the next five years, every business process, including how we market, sell, communicate, collaborate, innovate, train, and educate, will be transformed by mobile devices and wearables. Niche markets are sure to drive the accelerated growth of wearables long into the future.

Daniel Burrus is a leading futurist on tech trends and innovation. He is the author of six books, including the New York Times best seller Flash Foresight. The opinions expressed in this commentary are solely those of the author.

CNNMoney (San Diego) March 3, 2015: 12:16 AM ET

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Stratos wants to replace your wallet with its smart card

The Stratos Card looks like a credit card but is as thin and light as a business card.

It's yet another electronic "smart" card that promises to simplify our lives by slimming down our wallets and securing our personal information.

How it works: All of your current credit card information is stored in a corresponding mobile app and transmitted to your Stratos Card when you go to pay. When you receive the card in the mail, it comes with a card reader that plugs into a phone's headphone jack. Swiping a traditional credit card, debit card or gift card through the reader will load that card's information in the app.

There's no limit to the number of cards that can be saved to the app, but the Stratos Card holds only three cards for quick access. (Stratos CEO and co-founder Thiago Olson told CNNMoney that most people only use three cards 95% of the time.) Three touch-sensors on the front of the card correspond to each quick access card, allowing you to choose which one you want to use with a few taps.

If you're not using one of those three cards, Stratos requires a Bluetooth connection to your smartphone.

Design: The Stratos Card looks like a traditional credit card, but it is as thin and light as a business card. It also has a slick and clean design.

Printed on the front is the logo, owner's name and the number of the Stratos Card (not your actual credit card number). The three touch-sensors are placed near the right edge.

On the back, magnetic stripes run across the top, just like a regular credit card. There's a signature stripe on the back as well.

Security: The Stratos Card uses bank-level encryption, and for added security it generates a new, unique credit card "token" number each time it's used. When your bank receives and decrypts that "token," it then charges your card -- the retailer never sees your actual credit card number.

"If for example, Target gets breached, your account number is already changing," Olson said.

The first version of the Stratos Card does not have a chip, and is not compatible with contactless NFC card readers, but the company says it's working on adding both features to future models.

Because the card is tethered to a smartphone via Bluetooth, users can receive alerts in case they leave the card behind somewhere or lose it. But if you're not clear if your Stratos card is stolen or lost -- Olson still recommends canceling the three cards that are loaded on the card.

Like its competitors, Plastc and Coin, Stratos lets you shut off your card as well. But Stratos notes that it is the only one of its rivals that doesn't display your card information on the front (Plastc and Coin have screens on the front, unlike Stratos). That makes Stratos potentially safer to use, since your card number won't be given away if it's stolen.

The Stratos Card and mobile app.

Cost: $95 per year, or $145 for a two-year upfront membership. Stratos says this fee covers the cost of manufacturing, plus the cloud storage and security of the card, which is monitored by the company.

The Stratos Card is available for pre-order now, and begins shipping in April.

Cons: The cost. If you already pay yearly membership fees for other credit cards, this could be a deal-breaker.

For online purchases, you still have to enter your regular credit card number. Stratos only works at physical, brick-and-mortar shops.

Bottom line: It's a potentially good option for those who can afford and want the convenience of consolidating their wallets into one device. Just remember: it's another company and another app that will have access to your personal financial information.

CNNMoney (New York) March 3, 2015: 12:06 AM ET

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Stocks: 4 things to know before the open

Here are the four things you need to know before the opening bell rings in New York:

1. Slipping from all-time highs?: U.S. stock futures are slipping lower, indicating markets could see a modest retreat at the open.

A move lower could well be expected after the Dow Jones industrial average surged by 156 points to a record close of 18,288.63. The S&P 500 also rose to a record close at 2,117.39. And the Nasdaq grabbed headlines after ending the day above 5,000 points for only the third time in history.

2. International markets overview: European markets seemed to be tracking U.S. gains into Tuesday. All major indexes were edging higher.

Asian markets mostly closed with losses. The typically volatile Shanghai Composite was the biggest loser for the day. It fell by 2.2%.

Related: Fear & Greed Index

3. Earnings: Best Buy (BBY), Dick's Sporting Goods (DKS), and Kate Spade (KATE) are reporting ahead of the open.

In London, shares in Barclays (BCS) and Glencore (GLNCY) are both declining by about 2% after the firms reported annual results.

Related: CNNMoney's Tech30

4. Aussie dollar surges: The Australian currency got a big boost Tuesday after the country's central bank unexpectedly held its key rate at 2.25%.

A wide range of countries around the world have been cutting interest rates over the past few months, which has pushed their currencies lower.

China joined the fray and cut rates over the weekend as concerns about low inflation intensified.

Related: Have an investing question? Ask CNNMoney!

CNNMoney (London) March 3, 2015: 7:29 AM ET

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6 big ideas from India's budget

The budget earned plaudits from analysts, many of whom described it as a solid -- if not revolutionary -- plan.

But some said weeks of anticipation had given way to a feeling that the government of Prime Minister Narendra Modi had missed an opportunity on Saturday to introduce "big bang" free-market reforms.

On a day when pragmatism ruled, here are six of the biggest ideas:

1) Social Security for all Indians

While details are thin, India's government is moving to plug some of the holes in its social safety net. The budget calls for India to build a social security system that will benefit everyone, especially the "poor and under privileged."

"This is possibly the first budget that -- albeit in a small way -- tries to address the problems of the vast section of India's population not having any social security network," wrote Kunal Kumar Kundu of Societe Generale. "The move to provide them with some form of life, health and accident insurance is indeed laudable," he said.

2) Lower taxes on business

Businesses operating in India currently pay some of the highest rates in the world.

The government is hoping to change that, cutting India's corporate tax rate to 25% from 30%. The reduction, to take place over four years, should make India more competitive against international rivals.

3) Higher taxes on the rich

To make up some of the revenue shortfall, Prime Minister Modi hopes to slap a new tax on the super rich. Those making more than 10 million rupees ($160,000) will be on the hook for a 2% surcharge.

Related: India has more billionaires than Russia

4) Real penalties for tax cheats

India has a tough time getting people to pay taxes (which makes it difficult to raise revenue). Only around 35 million Indians pay income taxes, out of a working age population of nearly 800 million; China can count on about 300 million taxpayers.

The government is taking aim at tax cheats, with new penalties for people caught moving money offshore or through the black market.

Related: India's growth numbers are a total mystery

Jail terms will reach up to 10 years in cases of foreign tax evasion, and monetary penalties will be stiff. Failure to file a return could land violators in the slammer for up to seven years.

5) More spending on infrastructure

The government has promised to boost infrastructure spending by 700 billion rupees ($11.3 billion) next year. There is no shortage of work to be done on this front: Railways need to be modernized, and other transportation systems overhauled.

Societe Generale's Kundu described the extra spending as "immensely desirable."

6) Goods and Services Tax

The Modi government promised that a widely anticipated national Goods and Services Tax (GST) would be implemented by April 1, 2016.

India's states have a myriad of different taxes, and trading between them is a nightmare. The GST should help smooth trade and standardize costs.

What's next?

Budget euphoria is likely to quickly give way to hard political reality.

Modi, for example, will need the cooperation of parliament to make reforms a reality. He has a majority in the lower house of parliament, but it will take immense political will to push serious reforms through the opposition-controlled upper house.

In the meantime, the prime minister will continue to benefit from tailwinds that include lower energy prices, and inflation numbers that are well in hand.

-- CNN's Ravi Agrawal contributed reporting.

CNNMoney (Hong Kong) March 2, 2015: 5:41 AM ET

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Huawei's watch is stylish as well as smart

The latest offering comes from China's Huawei, which released the conventionally named "Huawei Watch" at the Mobile World Congress in Barcelona.

The company's first smartwatch features a 1.4-inch touch-sensitive display, scratch-proof lens, steel frame and heart rate monitor with motion sensor. The device runs on Android Wear software.

That's all pretty standard. But two things make the Chinese product stand out from much of the competition: personalization and style.

Huawei says the watch will come with more than 40 different faces and a slew of band options. Colors include gold, silver and black.

The style of the face -- from what we've seen so far -- takes its design cues from an authentic luxury timepiece. It joins the new LG (LPL) Watch Urbane as one of the few smartwatches on the market with classic styling.

Related: LG's new smartwatch is more Patek Philippe, less Pebble

Huawei is a telecoms company based in China. It's a major player in computer networking, government and mobile communications. Recently, the firm has made a big push into consumer electronics.

Apple (AAPL, Tech30) is expected to release more details about its own watch soon. The company is holding an event on March 9, where it is likely to give an update on the wearable gadget's latest features, pricing and availability.

CNNMoney (Hong Kong) March 2, 2015: 6:31 AM ET

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Too much Facebook leads to envy and depression

A recent study conducted by researchers at Nanyang Technological University, Bradley University and the University of Missouri Columbia found that heavy Facebook (FB, Tech30) users can experience envy -- which can ultimately lead to extreme sadness.

The researchers surveyed 736 college students and found that, basically, if you quietly stalk your friends on Facebook and then realize that your life doesn't measure up to theirs, you feel bad about yourself.

"If Facebook is used to see how well an acquaintance is doing financially or how happy an old friend is in his relationship -- things that cause envy among users -- use of the site can lead to feelings of depression," said Margaret Duffy, a professor at the University of Missouri School of Journalism.

This isn't just a college phenomenon. I am nearing middle age and I can relate.

Facebook is a huge part of my life. Like most Facebook users, I have the app on my phone. I check it at work. I check it at home. I check it when I am out. If I am in a subway station with Wi-Fi, I check it there too.

I am up to date on all my friends, their kids and whatever they are reading at that moment. Unfortunately, it's an addiction that I can't quit.

Facebook has allowed me a little window into my friends' lives back home. They have babies -- well some of them have teenagers. They have lovely homes. And the dinners -- oh the dinners they serve! There are food presentations that look like something out of a Martha Stewart magazine. I watch all the videos of their kids saying the darndest things. I click on their pictures of vacations in exotic places.

I have come to the conclusion that Facebook is a lifestyle magazine featuring my friends, who are doing it better than me.

I peruse Facebook from computer on my coffee table, because I am not grown up enough to buy a desk for myself. My coffee table is my all-purpose table. I eat there too -- usually hunks of cheese with a knife and no crackers. That's right no crackers, because I am too lazy to run out to the bodega.

My only consolation is sometimes my friends confuse "there," "their" and "they're" in their posts about their lovely vacations and darling children. Then suddenly, I feel a little bit better about myself.

Related: The most ridiculous things people do to their company iPhones

Related: Mark Zuckerberg says Happy New Year in Mandarin

CNNMoney (New York) March 2, 2015: 7:08 AM ET

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Kelly Osbourne quits E!'s 'Fashion Police'

Kelly Osbourne (center) has quit E!'s 'Fashion Police.'

E! announced on Friday that Kelly Osbourne will be departing the network's style and red carpet show to "pursue other opportunities."

"We would like to thank her for her many contributions to the series over the past five years during which time the show became a hit with viewers," the network said in a statement.

The departure comes as "Fashion Police" is facing scrutiny over one of its hosts comments.

On Monday's telecast, co-host Giuliana Rancic made a comment about the dreadlocks of actress-singer Zendaya Coleman, saying the hair probably smelled like "weed" or "patchouli oil." Some felt the comment was racially insensitive.

The backlash from Rancic's comment fell onto Osbourne who took to Twitter to convey her displeasure over the situation.

"I DID NOT MAKE THE WEED COMENT [sic]", Osborne tweeted on Tuesday." I DOT NOT CONDONE RACISM SO AS A RSULT [sic] OF THIS IM SEREIOUSLY [sic] QUESTIONONIG [sic] STAYING ON THE SHOW!"

Giuliana Rancic has since apologized for her comments.

E! said that the show would return as scheduled on Friday, March 30 and that no decisions have yet been made on Osbourne's replacement.

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CNNMoney (New York) February 27, 2015: 7:32 PM ET

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Advice from Warren Buffett that could make you rich

Such consistency has paid off for Buffett: A jaw-dropping return of 1,826,163% over the past half century. That's an average annual gain of 21.6%, compared to 9.9% for the S&P 500.

You probably can't do as well as Buffett -- he's got a lot of advantages you don't -- but his advice can get you a lot of the way to reaching your goals.

1. "America's best days lie ahead"

Remember 2008, the early days of the Great Recession? A lot of people couldn't imagine better days ahead, got scared and sold their stocks. A massive rally of 200% followed for those with the courage to ride out the tough times.

Buffett and his partner Charlie Munger held strong, and took the opportunity to pick up bargains. True, they're billionaires and can better afford to do so. But it's a lesson for all of us.

In 2015, there is no shortage of reasons to worry. But here's what Buffett has to say about it:

"Charlie and I have always considered a "bet" on ever-rising U.S. prosperity to be very close to a sure thing. Though the preachers of pessimism prattle endlessly about America's problems, I've never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket). Most assuredly, America's best days lie ahead."

2. If you think long, stocks aren't as risky as you think

Sure, stocks can take you on some scary rides. Bad years with losses of 10% or 20% come around often enough. Specific stocks you own might go to zero if you were really speculating.

But Buffett spends some time telling investors not to mistake those ups-and-downs with risk -- provided you build a diversified portfolio of established companies, and are saving for the long term.

Here's Buffett: "It has been far safer to invest in a diversified collection of American businesses than to invest in securities -- Treasuries, for example -- whose values have been tied to American currency. That was also true in the preceding half-century, a period including the Great Depression and two world wars. Investors should heed this history. To one degree or another it is almost certain to be repeated during the next century."

Buffett helpfully outlines the mistakes that will undermine stocks' potential: "Investors, of course, can, by their own behavior, make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a life-long owner of equities would otherwise enjoy."

Related: Scared of a market crash? Read this

3. Don't listen to the "experts."

What are the top strategists saying now? Who cares?

"Anything can happen anytime in markets," writes Buffett. "And no advisor, economist, or TV commentator -- and definitely not Charlie nor I -- can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet."

4. Be decisive

Sometimes you know the right thing to do, but it just "feels" better to go slow.

Even Buffett is vulnerable to that behavior, and he says it cost him in 2014 with his investment in Tesco, the British supermarket chain.

"In 2013, I soured somewhat on the company's then-management and sold 114 million shares, realizing a profit of $43 million. My leisurely pace in making sales would prove expensive. Charlie calls this sort of behavior "thumb-sucking."

"During 2014, Tesco's problems worsened by the month. The company's market share fell, its margins contracted and accounting problems surfaced. In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives."

Buffett finally got out completely, but ended up with a loss of more than $400 million.

Related: Warren Buffett knows who the next 'Buffett' is

Related: How good is Warren Buffett? Very good

Related: Investors who lose money make these two mistakes

CNNMoney (New York) February 28, 2015: 12:08 PM ET

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Warren Buffett knows who next Berkshire CEO is

He also said that he knows who will one day replace him. Of course, Buffett did not share that name with the rest of us.

"The board and I believe we now have the right person to succeed me as CEO -- a successor ready to assume the job the day after I die or step down," he wrote in his latest annual letter to investors.

Buffett added that the next Berkshire CEO would be someone that already works at Berkshire and is "relatively young."

And while Buffett chose to be coy, Berkshire's vice chairman and long-time Buffett friend Charlie Munger seemed to suggest that it's a two-man race to succeed Buffett.

Munger, in his own remarks in Buffett's letter, specifically named Berkshire reinsurance head Ajit Jain and Berkshire Energy CEO Greg Abel as "proven performers who would probably be under-described as 'world-class.'"

Munger added that he doubted either Jain or Abel would ever leave Berkshire or seek to change how the company is run.

This is Buffett's 50th annual shareholder letter since he took control of Berkshire Hathaway (BRKA) in 1964. So it's only natural that it's time for Buffett to prepare Berkshire investors for life without him.

Throughout the past five decades, Buffett has had a lot to say about the financial markets, economy and society.

Last year, he even gave travel tips, urging people to consider flying to Kansas City, and then drive a rental to Nebraska, since airlines often have "jacked up prices" on flights to Omaha. This year, he even endorsed Airbnb as a way to save on lodging -- though it's hard to imagine Buffett endorsing the young tech company as an investment.

Related: How good is Warren Buffett? Very

But most Buffett fans read the letters for his advice on stocks -- even though Buffett has conceded that the portfolios run by his two investing lieutenants Todd Combs and Ted Weschler have outperformed his own lately.

Buffett is a classic buy and hold investor who has largely shunned pricey technology stocks in favor of blue chips in the financial, industrial and consumer sectors. He has often urged investors to not panic and dump stocks due to fear.

In this year's letter, Buffett stressed that investors should not confuse volatility and risk. He said that stocks "will always be far more volatile" than cash and other investments.

But the bigger risk is not being in the market.

Buffett said that "for the great majority of investors, however, who can -- and should -- invest with a multi-decade horizon ... their focus should remain fixed on attaining significant gains in purchasing power over their investing lifetime."

The proof is in the returns. Berkshire's market value per share has increased by a jaw-dropping 1,826,163% in the past 50 years.

To put that in perspective, the compounded annual gain is 21.6%, compared to 9.9% for the S&P 500.

Another constant Buffett refrain: Don't bet against America. Better times lie ahead.

That optimistic spirit was once again present in this year's letter. Buffett was particularly confident about the chances of continued success for Berkshire.

He said that "the chance of permanent capital loss for patient Berkshire shareholders is as low as can be found among single-company investments" and added that the there is "essentially zero" risk of Berkshire being hit by any major financial problems.

Related: Berkshire is one of Motley Fool's best stocks to buy

Buffett even joked that Berkshire would "always be prepared for the thousand-year flood" and "will be selling life jackets to the unprepared." That's a reference to some of the big investments Berkshire made in financial firms in the wake of the 2008 credit crisis.

But he added that Berkshire is now so big, it will be tough to match the performance of the past 50 years.

Buffett also stressed that the company is much more than an investing and insurance giant -- and he hinted at more deals to come.

Berkshire bought railroad Burlington Northern Santa Fe in 2009 and teamed up with private equity firm 3G Capital to purchase Heinz in 2013.

"Berkshire is now a sprawling conglomerate, constantly trying to sprawl further," he wrote, adding that it expected to partner even more with 3G.

Still, some investors have questioned whether Buffett has lost his mojo. Big Berkshire investments IBM (IBM, Tech30), Coca-Cola (KO) and American Express (AXP) have lagged the market lately.

Related: Warren Buffett ditched Big Oil. Dumb move?

However, other Berkshire stocks -- most notably top holding Wells Fargo (WFC) -- have done extremely well.

Buffett refers to Wells, IBM, Coke and AmEx as Berkshire's "Big Four" investments. And he does not seem to be too concerned by the recent problems at the latter three.

He said that all four "possess excellent businesses and are run by managers who are both talented and shareholder-oriented."

And Berkshire's own stock has outperformed the S&P 500 over the past five years. The company is now the fourth most valuable in America, trailing only Apple (AAPL, Tech30), Google (GOOGL, Tech30) and Exxon Mobil (XOM).

But Buffett did concede that he made one huge blunder last year. Its investment in British supermarket chain Tesco (TESO) turned out to be a flop due to an accounting problem at the retailer.

Related: Berkshire buys stake in Rupert Murdoch's 21st Century Fox

Berkshire sold some of its Tesco stake in 2013 but didn't unload the rest until after the stock had plunged last year. Buffett took full responsibility for "the leisurely pace in making sales."

"I made a big mistake with this investment by dawdling," he wrote. But even that error didn't wind up hurting Berkshire too badly.

Buffett said that after-tax loss on Tesco was $444 million -- about 1/5 of 1% of Berkshire's net worth.

One of the nice things about being so big is that you don't have to hit a home run every time you step up to the plate.

CNNMoney (New York) February 28, 2015: 10:27 AM ET

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Iran hacked an American casino, U.S. says

For the first time, Director of National Intelligence James Clapper said the Iranian government was behind a damaging cyberattack on the Sands Las Vegas Corporation (LVS) in 2014. He mentioned it while testifying before the Senate Armed Services Committee this week.

Sands owns several well-known properties, including The Venetian and Palazzo in Las Vegas and two other resorts in Macao and Singapore.

The attack made headlines, because Las Vegas Sands is a large publicly-traded company. In February 2014, it said unidentified hackers broke into its computer network and stole customer data: credit card data, Social Security numbers and driver's licenses numbers.

The U.S. government accuses Iran of hacking the Las Vegas Sands Casino Corporation, which owns The Palazzo and several other resort-hotel-casinos around the world.

At the time, it sounded like just another digital break-in. But the nation's leading intelligence official says it was much worse than that.

On Thursday, Clapper described it as a "destructive cyberattack" on par with North Korea's hack of Sony. In that case, hackers wiped computers, destroyed data and froze the company to a halt.

It's unknown what damage Iranian hackers did to the casino company. Las Vegas Sands declined to comment for this story.

However, the company thinks hackers broke into its casino in Bethlehem, Pennsylvania and "certain company data may have been destroyed," according to documents it filed Friday with the Securities and Exchange Commission.

Of all targets, why Adelson's company? The businessman is a major donor to Republican politicians. He's staunchly pro-Israel, the ultimate foe of the current Iranian regime. And in the past, Adelson has casually suggested that the U.S. drop nuclear bombs on Iran.

If Clapper's assertion is true, this is the latest example of a frightening trend: governments are hacking private companies.

Chinese hacker spies have stolen business plans from U.S. power plants. Russian hackers have broken into American and European oil and gas companies. And most recently, leaked documents show American and British spies hacked a phone SIM card maker in the Netherlands.

Computer security experts widely agree that companies aren't prepared to handle this threat. It comes down to resources. A government is a predator with billions of dollars at its disposal to amass a formidable cyber army. Its prey is a lean, for-profit company with a small security team.

Clapper told senators that hackers in Iran and North Korea pose less of a threat than China and Russia. But they're still a serious foe.

"These destructive attacks demonstrate that Iran and North Korea are motivated and unpredictable cyber actors," Clapper told senators on Thursday.

Related: Anthem probe looking at China as possible source of hack

Related: NSA tied to super-sneaky malware found in companies worldwide

Related: The NSA failed to hack your phone

CNNMoney (New York) February 27, 2015: 5:54 PM ET

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