By Reformed Millennials
The podcast currently has 253 episodes available.
📈Canadian 2024 Budget Highlights with Mel Caouette📉
Welcome back.
We apologize for the inconsistent email and podcast schedule over the last few months. We will be back this summer in full force!
This week’s podcast brings back our most popular guest - Melissa Caouette. We talk about the Canadian Federal Budget and its impact on Canadian entrepreneurs, home owners new and old, and those looking to plan their financial lives.
Twitter links to reference for the pod:
* Professional Canadians impacted by the Capital Gains Inclusion policy.
* Incorporated people deciding on how to pay themselves post-budget policy changes.
* What the new budget means for Canadian Farmers.
* Budget Link that covers the housing portion of the policy.
Quick Market Update:
By now it should be clear to everyone that the Fed doesn’t have a specific plan for when they will cut rates this year. Powell keeps saying they are taking the data one month at a time and adjusting their view. This is why stocks rallied when the jobs number on Friday came well below estimates. A weakening jobs market improves the prospects for an earlier rate cut.
We are already starting to see some easing.
The pace of the Fed’s balance sheet reduction is slowing down.
The Treasury plans to start buying $2Bn worth of Treasuries weekly.
This is why the dips in the stock market continue to be bought.
Earnings season:
Two trends stood out so far – upside gaps often faded while downside gaps followed through. These are both bearish reactions. And yet, the indexes are holding relatively well.
SPY, QQQ, and IWM have made a couple of higher lows and higher highs in the past two weeks. Small caps are firmly back above their YTD VWAP.
SPY and QQQ rallied to their 50-day moving average.
Going above their Friday highs will likely lead to FOMO chasing as many market participants are underinvested. Losing Friday’s low will likely lead to a quick gap close.
In the meantime, Chinese stocks had a second strong week in a row. Sentiment towards Chinese names has been extremely bearish for a long time. F
We are in a market of stocks environment. The popular, well-known stocks have had some troubles this earnings season. They either gap up and then quickly close their gaps or gap down.
Podcast & YouTube Recommendations🎙
* Great recap of the most recent Apple Event and Quarter:
* Justin Lin interviewed by YAV podcast:
* Market update from the guys at RenMac:
Best Links of The Week🔮
* “Trung offers up many examples of how the best athletes in the world across almost every sport are both learning and educating on YouTube. I have seen it in golf and I know if I had the time or inclination I could rapidly improve my game.” Youtube - The learning machine - Source: Trung Phan
* “Over the last thirty-plus years, each major technology wave, like the PC and then the Internet, evolved as a series of technologies in a tech value stack that came to define the full ecosystem with huge collective value over time.” Source: AI - Building Value Over Time
* Disney shares tumbled 9.5 percent on Tuesday even as it reported the first profit in its core streaming business since it leapt into a battle with [NFLX] five years ago. The Disney+ and Hulu streaming unit earned an operating profit of $47mn in the quarter to the end of March, compared with a $587mn loss a year earlier. Disney achieved the milestone months earlier than expected thanks to cost-cutting and the popularity of Hulu programs including Shogun and The Bear. But investors appeared to be more focused on a potential slowdown in the company’s theme parks." Source: FT
"Apple announced new versions of its iPad Air and iPad Pro tablet computers on Tuesday. They’re the first new iPad models Apple has released since October 2022. “This is the biggest day for iPad since its introduction,” Apple CEO Tim Cook said in a video posted on the company’s website." Source: CNBC
"The Biden administration has revoked export licences that allow Intel and Qualcomm to supply Huawei with semiconductors as Washington increases the pressure on the Chinese telecoms equipment company. The move by the US Department of Commerce affects the supply of chips for Huawei’s laptop computers and mobile phones." Source: FT
"TikTok sued the federal government on Tuesday over a new law that would force its Chinese owner, ByteDance, to sell the popular social media app or face a ban in the United States, stoking a battle over national security and free speech that is likely to end up in the Supreme Court." Source: NYT
"Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. Revenue increased 48% to $243 million for the first quarter. Reddit reported 82.7 million daily active users for the period." Source: CNBC
Disclaimer:
Investing in equities, fixed-income instruments, and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog, or in any Reformed Millennials Podcast (a “podcast”) is your responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog, and in any podcast is presented as a general educational, informational, and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog, and any podcast does not provide, and should not be construed as providing, individualized investment, tax, or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog, or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaims that any viewer of this website, blog, or any podcast should rely in any way on any of their contents as investment, tax, or insurance advice or as an investment, insurance, or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going forward.
Listen in podcast app and follow below for the podcast topic arc.
* Joel’s unconventional career path
* How to start a business in your early years
* How to approach the ever changing technology market
* How to think about buying your first house
* Tips and tricks to networking
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Happy Easter weekend, everyone.
This weeks episode is a little bit different than our typical show. Part 1 of 2.
Joel is interviewed by Omid from the Second Floor Podcast.
It’s a wide ranging conversation about networking, investing, mentorship, leverage and the Canadian Economy.
If you care to hear Joel’s thoughts on the above subjects, we thinks it well worth your time to listen and subscribe to The Second Floor Podcast.
Podcast & YouTube Recommendations🎙
* “Truly showing belief in others will buy them a ticket to someplace they never knew.” “Create a brand that people chase, don’t chase people with your brand.” Another gem of an episode on @patrick_oshag pod:
* A great podcast covering the new paradigm shift amongst big tech from Ben Thompson and Stratechery.
* The New Face of Military Technology with Peter Zeihan:
Best Links of The Week🔮
* Nvidia’s ACCELERATING AI Strategy. And a Podcast to go with it - Source: the 30 year overnight success story interview with Nvidia CEO Jensen Huang.
* The Concorde Jet vs. Boeing 747 - Source: Trung Phan
* "Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss. Tesla’s Model 3 starts at 245,900 yuan in China. Lei claimed the standard version of the SU7 beat the Model 3 on more than 90% of its specifications, except on two aspects that he said it might take Xiaomi at least three to five years to catch up with Tesla on." Source: CNBC
* "Reddit shares are plummeting after experiencing a rally stemming from the social media company’s IPO last week. Shares closed Thursday at $49.30, falling below their closing price on Reddit’s first day of trading last week on the New York Stock Exchange. Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Hoffman sold 500,000 shares, and Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares." Source: CNBC
"Home Depot is placing an $18 billion bet that will take the retailer beyond its big orange stores. The home-improvement retailer said Thursday it would buy a company that sells goods for professional roofing and other building projects, branching out to grab more spending by big contractors and construction firms." Source: WSJ
Important Charts From the Last Week:
Crypto, commodities and bond charts courtesy of All Star Charts.
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
📈Alberta Budget Highlights📉
Welcome back.
This weeks podcast has a special guest: Melissa Caouette founder of Pocket Lobbyist and MC Consulting.
from her political newsletter:
On Thursday, February 29, 2024, Alberta’s Minister of Finance and President of the Treasury Board, Hon. Nate Horner, tabled the Government of Alberta 2024-27 Fiscal Plan: A Responsible Plan for a Growing Province.
TL;DR: Budget 2024 includes a modest $367 million surplus with revenues projected to be $73.5 billion. A relatively positive economic position when considered in the context of global uncertainty with 2.9 per cent projected real GDP growth. Population growth was significant this year but will lower slightly to 3.7 per cent in 2024-25.
Tax updates include a new electric vehicle tax and a new Land Ttitles Registration Levy. The government will increase cigarette and smokeless tobacco taxes and adopt the federal-provincial vaping tax framework. A campaign commitment to introduce the Alberta is Calling Attraction Bonus is also included. Education Property Taxes remain the same.
Here are the links to all the important budget documents for anyone interested in reviewing all the details:
* Minister Horner's Budget Address
* Fiscal Plan
* Capital Plan and Details By Ministry
* Business Plans
About Pocket Lobbyist
Pocket Lobbyist is an innovative, first-of-its-kind platform for government relations and public policy materials in Canada.
We offer innovative products that support organizations in anticipating, interpreting, and mitigating political risk, including a membership portal and cohort-based professional development opportunities.
After launching in 2022, Pocket Lobbyist is a trusted resource for some of Canada’s largest municipalities, economic development associations, non-profits, associations, lobbying firms, and private sector companies.
Twitter links to reference for the pod:
* Trevor Tombe on the 250B-400B Herritage fund
* Canada no longer one of the richest nations on earth
* Land transfer tax gets a huge tax overhaul
Podcast & YouTube Recommendations🎙
* Richard Lewis was a legend and he passed this week. He will be missed,. This best of Richard Lewis on Letterman is fantastic:
* G2 Podcast:
* New Founders Pod:
Best Links of The Week🔮
* PRIME TIME: WHY NIGHT GOLF COULD EXPLODE IN POPULARITY: “There are about 16,000 golf courses in the United States, but less than one percent of them have lights. That could change in the coming years as many in the golf industry feel we are at the beginning of a night golf trend. “Source: here
* Nvidia CEO Jensen highlights Inference over Training AI: With the markets increasingly tuned to the potentially higher upcoming competition from other chip vendors for Nvidia in AI inference vs training, it’s notable that CEO Jensen Huang is making this a priority. Especially in terms of providing the street Nvidia metrics on this front. Source and detailed take: here.
* "Over and over again, Apple Chief Executive Tim Cook has been asked the same question: What is Apple doing about generative artificial intelligence? His answer: Stay tuned. Investors are getting impatient... That sentiment is why Apple’s decision to shift some employees into AI and cancel its electric-car project—one of the most widely anticipated potential tech products in a decade—was greeted with almost universal investor enthusiasm Tuesday." Source: WSJ
* "The Federal Reserve’s preferred gauge of underlying inflation rose in January at the fastest pace in nearly a year, helping explain policymakers’ patient approach to start cutting interest rates. The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.4% from December, data out Thursday showed. From a year ago, it advanced 2.8%. Economists consider this to be a better gauge of underlying inflation than the overall index." Source: Bloomberg
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Super Bowl Economics
* Market update
* Underneath all time highs
* Rates aren’t coming down… now what?
* The power of AI and inference
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Welcome back.
The Good
The most bullish thing I see out there for the stock market is the lack of new lows… Most stocks are holding and staying above their 52 week lows…
It's mathematically impossible for the stock market to get worse, go into a correction, or even think about the possibility of a bear market, without seeing an expansion in new lows first.
And we're just not seeing it.
The NYSE Composite went out last week at a new all-time high. And even the most short-term of new lows lists have yet to see any expansion.
The Bad
However, the bad thing is that there have been a number of bearish divergences adding up.
The stock market just entered what is historically one of the worst times to own stocks of the entire year, the new 52-week highs list has already dried up.
We are in nomansland.
The all time highs list peaked 2 months ago, and has been deteriorating with every new high you see in the S&P500 and Nasdaq (neither one closed at a new high last week).
US Treasury Bonds are falling off a cliff. When a $130 Trillion asset class is crashing, is your bet that it won't impact the stock market?
You're seeing Consumer Staples outpacing Consumer Discretionary stocks, which is what you normally see in the market right before a good rug pull.
And worst of all, the US Dollar is ripping higher. Over the past several years, when the Dollar is strong, stock are not…
The US Dollar is the only safe haven in this market. And Dollar Index Futures are up every week this year - 7 weeks in a row. All of these, in my opinion, are definitely bad for stocks.
The UGLY
This market is losing its leaders.
Adobe, arguably the most important software stock, is getting crushed.
The iShares Software Index Fund just got back to its former bull market highs from late 2021.
The most important stocks within the index are already rolling over.
If Software is falling, Apple and Microsoft are rolling over, and momentum is diverging everywhere, do you think the Tech Sector Index itself won't follow?
Remember, Technology represents 30% of the S&P500 and over 50% of the Nasdaq100 $QQQ.
Now, this is all to say that we cant possibly see the future and all these bearish signals could change in an instant.
We as investors and market participants must stay nimble.
Twitter links from the pod:
* Capital One buying Discover
* Lifestyle influencers are transitioning out of the business
* EV Leases are plummeting in price
* Raising Canes origin story
* Trevor Tombe talks about the Alberta herritage fund
Podcast & YouTube Recommendations🎙
* The Legend Behind the Legend: This awesome interview was served up of Steve Williams who was Tiger Woods caddy for 13 years. Steve had the best seat in golf for 13 years. There are so many great stories on Tiger Woods’ crazy life, the one on how he got fired and on the legacy of Tiger Woods.
* The Compound brings back my favorite guest:
* B2 is the best new podcast in tech and investing. This episode was a phenomenal cruise around tech markets.
Best Links of The Week🔮
* "Nvidia’s surge to an all-time high is the biggest single-session increase in market value in history, besting Meta’s historic gain just three weeks ago. Shares of the chipmaker jumped 16% Thursday, adding about $277 billion in market capitalization and bringing its total market value near $2 trillion. The addition eclipsed the $197 billion gain made by Facebook-parent Meta at the start of the month." Source: Bloomberg
* "Japan’s benchmark stock average hit a record high Thursday after 34 years of waiting, and the reason mostly boils down to one word: profits. Japanese companies are making a lot of money, and they are handing out a lot of it to their shareholders. In contrast to 3½ decades ago, when Nikkei Stock Average record highs last made headlines, no bubbles or magical thinking are needed to justify the new peak." Source: WSJ
* "Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.” Its market debut, expected in March, will be the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019." Source: CNBC
* "A patient implanted with Neuralink’s brain technology can now control a computer mouse just by thinking, the company’s founder Elon Musk said. ″[The] patient seems to have made a full recovery with no ill effects that we are aware of and is able to control the mouse, move the mouse around the screen just by thinking,” Musk said in a Spaces session on social media platform X. Neuralink is the billionaire’s startup, which says it has developed a brain implant designed to help humans use their neural signals to control external technologies. The company aims to restore lost capabilities such as vision, motor function and speech." Source: CNBC
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Good Good tournament with Grass Clippings
* Market update
* Canada betting too much on USA trade
* American exports
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Welcome back.
Last Wednesday the Dow, S&P500 and Nasdaq100 all closed at new all-time highs.
But the number of stocks on the NYSE that actually made new highs was a fraction of what it was last week…
Breadth is weak.
The indexes make new highs. The headlines focus only on that.
But then the actual new highs list is non-existent.
A sell off is beginning, we’re just not seeing it at the index level yet.
But, things can change at the drop of a hat.
The number of S&P 500 stocks above their 200 and 50dma is decreasing while the index is making new highs. This is how indexes topped in the past. The trouble is that timing a top is a lot tougher than capturing a bottom.
A bearish divergence can continue a lot longer than most expect and can resolve in two ways:
* We can see an expansion of the rally as more stocks participate. This happened last year in May and June.
* Or we can see a correction and most stocks pull back.
From where we stand, both scenarios are equally plausible right now.
More stocks joining the rally mean more and better opportunities in faster-moving stocks. A correction means lower prices in the strongest companies – so many investors are dreaming about buying pullbacks in the strongest semiconductor and software stocks. Any dips will offer better risk-to-reward opportunities.
As legendary investor, Peter Lynch said: “Far more money has been lost while preparing for a correction than during the corrections themselves”.
Twitter links from the pod:
* Trevor Tombe on Canadian resource investment
* Trevor Tombe on Canada betting too much on USA trade
* Chris Arnade talks about American exports
* Adam Sandler and Brad Pitt
Podcast & YouTube Recommendations🎙
* BG2 podcast with Aaron Levie:
* Using the Apple Vision Pro:
Best Links of The Week🔮
* Todays luxuries are tomorrows commodities - “We're entering a world in which consumers will experience abundance in creativity and productivity, in their relationships and social experiences, and in personal growth across dimensions like education, wellness, and financial health. This will manifest in a new generation of AI-native consumer products and companies that grow faster and engage users more deeply than ever before”. Source: Gamma
* Federal Reserve Chair Jerome Powell said the central bank has shifted its focus toward deciding when to begin cutting interest rates, but that solid economic growth means officials didn’t have to rush that decision. Given recent economic strength, “we feel like we can approach the question of when to begin to reduce interest rates carefully,” Powell said during a rare television interview to be broadcast on CBS on Sunday night. Powell, speaking on “60 Minutes,” said officials were trying to balance the risks of leaving rates too high for too long, which could cause an economic slowdown, and of cutting rates too soon and allowing inflation to settle above the Fed’s 2% goal." Source: WSJ
* "Danish drugmaker Novo Nordisk has been “surprised” by the readiness of European consumers to pay for weight-loss drugs from their own pockets, as the region’s largest company invests in new supply to meet runaway demand. The company’s weight-loss drug Wegovy and diabetes treatment Ozempic powered it to record sales in 2023 and a current market capitalisation of $508bn." Source: FT
* "Hawaiian Airlines is rolling out complimentary Wi-Fi via SpaceX’s Starlink on board commercial flights this week... the first major U.S. airline to offer the satellite-based service. “SpaceX has really cracked the code – literally, in terms of the technology – to be able to deliver a wide bandwidth of very high quality connectivity to an airplane with a global reach,” Peter Ingram, Hawaiian Airlines CEO, told CNBC." Source: CNBC
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Sports business update (Netflix $5B Deal with WWE)
* Inflation news and jobs data
* Market update
* META earnings
* AMZN earnings
* Vision Pro impacting culture
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Welcome back.
We had a very exciting week in markets. There was some important US data that was released. QRA & RRP, FOMC and Big Tech earnings.
QRA - There was a net funding for US treasury and bills, which was a surprise and would be considered a headwind for equities.
FOMC - Many forecasters assumed that Quantitative Tightening (QT) would end in June, however, after this months meeting it’s quite clear that QT ending is no longer a certainty. There will be no rate cut in march.
In order to see a cut, Jerome Powell will need to see a few CPI prints that negate the benign inflation that we have seen over the last few quarters.
This is all to say, that its clear we are in a fairly precarious place with regards to equity pricing. We are priced for a perfect “no landing'“ situation.
AI and Big Tech:
Big Tech AI driven Earnings Season Momentum continues: Meta took the investor crown with its quarterly results, with the stock up almost 20%, with Amazon also seeing a double digit positive reaction. Microsoft, logged some gains initially post announcement gains, but gave them up later in the week. Apple and Google had modestly muted reactions, Apple for weakness in China, and Google for continued concerns on AI impact on its Search business. Lots in the weeds to parse for each of the ‘Magnificent 7’, but overall, the AI sentiment tailwinds continue.
How to think about the evolution of culturally important technology: Vision Pro
If one looks back at Apple’s ‘platform’ record over the decades, the company is generally never the first in a hot new tech area. But when it does make its move, it’s typically a committed, focused, and multi-year bet on making it a vertically integrated ‘Best’. With an almost religious ‘attention to detail’, fusing both the hardware and software elements. With the North Star of the eventual user experience.
Let’s look at the broad strokes through tech history. Apple typically relabels the tech to whatever it wants. (This time it’s ‘Spatial Computing’ instead of ‘VR, AR or MR’).
Let’s look at this ‘late’ but eventually ‘best’ trend through Apple’s history:
* GUI (Graphical User Interface) pioneering Macs in the 1980s, bringing the world from the ‘Command Line’ of Microsoft’s MS-DOS to their eventual success with Windows 95 and beyond,
* to its Internet ‘built-in’ iMacs in 1997 when Steve Jobs ‘came back’ to Apple,
* to the iPod that revamped the Music industry from albums to buying music tracks individually, changing the habits of billions in how they consumed music,
* to of course the mobile phone with the iPhone in 2007 after Blackberry and many others had already ‘taken the lead’, redefining the ‘Smart Phone’, and establishing the ‘App Store’ and App Economy that now sees over a trillion in business activity per year,
* to the Airpods in the ‘Wearables’ space, overtaking prior wired and wireless efforts,
* to the Apple Watch, which continued the ‘Wearables’ progression from others, painstakingly iterating over many years,
* to now the Vision Pro in headsets that have seen billions in expenditures by everyone from Meta/Facebook with Oculus/Quest headsets to Microsoft, Sony, and so many others.
Twitter links from the pod:
* AMZN earnings recap
* META earnings recap
* Oil stocks to own forever
* Real estate development story that will blow your mind
* Bill Gross talks about QT and QE
Podcast & YouTube Recommendations🎙
* How to think about New All Time HIGHS - from the Compound
* How to think about product pricing - Invest Like The Best
Best Links of The Week🔮
* "After decades in the shadows of record-shattering Wall Street stocks, a transformation of the euro-area’s index of blue-chip companies looks to have finally set the benchmark on course toward a new high. Europe may lack a “Magnificent Seven” tech cohort of its own, but a pared-down version of that phenomenon has emerged. The Euro Stoxx 50 has just hit its highest since 2001, with the latest leg of the surge powered by blowout earnings from the region’s two biggest tech stocks, ASML and SAP." Source: Bloomberg
* "Reddit is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion... even as it is estimated below that figure in the volatile market for shares of private companies. The San Francisco-based social media company and its advisers are targeting a valuation in the mid-single-digit billions... The ultimate figure will depend on the IPO market’s nascent recovery... Reddit is considering a possible listing as soon as March." Source: Bloomberg
* "Meta Platforms is hoping Apple’s launch of the Vision Pro can reinvigorate its $50 billion metaverse effort, which consumers have yet to widely embrace. The social-media company wagered its reputation on the technology in 2021... Three years later, Meta’s Reality Labs division accounts for less than 1% of overall revenue, and the company has struggled to expand the cache of its Quest devices beyond a niche market... On the eve of the arrival of Apple’s Vision Pro, which will hit U.S. stores Friday, executives at Meta are optimistic, believing the iPhone maker’s entry into the market will validate Chief Executive Mark Zuckerberg’s gamble and draw more consumers." Source: WSJ
* "China has moved to officially limit short selling after informal efforts failed to stop a worsening stock market sell-off. Investors who buy shares will not be allowed to lend them out for short selling within an agreed lock-up period, the Shenzhen and Shanghai bourses said on Sunday... Regulators are coming under increasing pressure to halt the stock sell-off, which has been fuelled by uncertainty over the country’s economic growth prospects." - Source: FT
* "Big pharmaceutical companies like Bristol Myers Squibb, Merck and Johnson & Johnson face so-called patent cliffs that will put tens of billions of dollars in sales at risk between now and 2030. That refers to when patents expire for one or more leading branded products for a company, which opens up the door for competitors to sell copycats of those drugs, often at a lower price. Some companies appear to be well-prepared to offset some of the losses from upcoming patent expirations." - Source: CNBC
* "The Biden administration, eager to highlight a signature economic initiative as elections approach, is expected to award billions of dollars in subsidies to Intel, Taiwan Semiconductor Manufacturing, or TSMC, and other top semiconductor companies in coming weeks to help build new factories. The grants are part of the $53 billion Chips Act, intended to reshore production of advanced microchips and fend off China, which is fast developing its own chip industry." - Source: WSJ
* "Cathie Wood has said her tech-focused Ark stock market fund “paid its dues” with two years of steep declines, before roaring back last year with one of the industry’s best performances. Wood’s $8bn Ark Innovation exchange traded fund recorded a 68 per cent gain last year, putting it within the top one per cent of its peers, according to data from Morningstar. That rebound came after a 50 per cent annualised loss across 2021 and 2022, when sentiment soured against the high-growth companies it had backed." - Source: FT
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Sports recap
* Market update
* MSFT Co-pilot launches and surpasses APPL in market cap
* Amazon bails out regional sports networks
* Benson Boone Soft Launches his hit single Beautiful things
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Welcome back.
Lets quickly start with interest rates and the Fed/Bank of Canada:
The Fed/BofC dot plot assumes 3 cuts in 2024.
3 factors drive that assumption
* Inflation falling
* Real GDP falling
* Monetary policy
Lately the market and policy makers have focused entirely on #1. BUT 2. And 3 matter as well.
To validate the 3 cuts, GDP is projected to fall from 2.6 to 1.4. If it doesn't then almost all of the cuts in 2024 would not likely manifest. Last year we saw great progress in fighting back down inflation. This year will be about how the real economy handles current borrow rates.
Will gdp fall a lot? Or will it be stronger for longer?
Market technicals:
I think it's important to reiterate that if the most important sectors are holding their key breakouts, it's hard to be too bearish on the overall market at this stage.
First is Technology - the largest weighting in the S&P500 representing almost 30% of the entire Index. Tech is also 50% of the Nasdaq.
You're seeing similar from Industrials which is historically highly correlated with the S&P500 among all S&P sectors.
The importance of Homebuilders needs little introduction. But also keep in mind that this is one of the key groups within the Consumer Discretionary sector:
We don't have bull markets around here without Financials. So if the NYSE Broker Dealers Index is above those former cycle highs, like all of these others, it's hard to be too bearish on equities:
And finally, the strength out of Semiconductors cannot be overstated. As $TSM released better than expected 2024 guidance.
Twitter links from the pod:
* Roy Maddox on 2024 expectations
* Brent Beshore talks small business investing/characteristics
* Ram talks demographics, growth and inflation
* Nate Silvers on the population Bomb
* How to grow/market/scale an ecommerce business
Podcast & YouTube Recommendations🎙
* Bob Elliott talks about what the Fed needs to see in order to see rate cuts in 2024:
* Beautiful Things - Benson Boone
* Sam Altman and Bill Gates talk the future of AI:
Best Links of The Week🔮
* The Red Sea, a key global trade route, faces material disruption from Iran-backed Houthi rebel attacks on commercial ships. - FT
* In the world of media and technology, there is something that is always in play…the bundling and unbundling of things. - Ben Thompson has covered this over the years.
* I love this Morgan Housel piece titled ‘Information That Would Get Your Attention’.
* The Apple Macintosh is 40 years old (a true reminder to let the Vision Pro breathe)
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Sports roundup
* NFL success
* Market update
* Bitcoin ETF
* Tiger and Nike part ways
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Lets start with what happened last week.
Bonds traded down and equities traded slightly up.
But what matters to participants is the short end of the yield curve. And how interest rates are going to move as we trade through the year.
“If inflation falls towards target, unless they ease, they will be tight.” - Jerome Powell
What the market is betting on at he moment is that the inflation rate will fall to somewhere between 2.3%-2.5%. which will allow the fed to cut to 2% REAL.
Real interest rates are CPI minus the fed funds rate.
This is where the 4.3%-4.5% fed funds rate is coming from.
The problem is that CPI came in hotter than expected last week.
3.4% vs and expected 3.2%
A lot of people are still trapped in super short dated bills.
The reinvestment risk for most participants is enormous.
Most investors are looking to enter market slightly lower than where we are right now.
Moving forward. Will inflation drift towards target?
At the moment, the proper positioning is likely 60:40 (equity:bonds) for most wealthy long term investors.
40% in 3-4 year duration bonds.
60% long duration equities.
What do we sell? What do we buy?
There is some incredibly exciting opportunities in tech right now. Stuff that could significantly run into the future. But the market feels properly priced here.
None of this is financial advice but this is how I’m thinking through the first week of 2024.
Twitter links from the pod:
* Ram on twitter talks about global investing trends
* Bitcoin ETF Taxation
* Andy Constan on the future of inflation
* Kate and Ashley Quiet Luxury
* CES 2024
Everyone should check these links out:
Consumer Electronics Show (CES) 2024 wraps up an AI-laden week: CES 2024 wrapped up this week with almost every company having an AI featured announcement. Or so it seemed. Useful rounds ups of the plethora of announcements across Electronics, PCs/Laptops/TVs/Automobiles, and gadgets of every type can be read hare, here and here amongst many others, Of particular note of course was the focus by both chip and PC vendors to highlight the AI capabilities of their next generations of products this year. And Intel, AMD and other chip vendors did their best to make their case that they were also in the AI chip race vs Nvidia, which at the moment is running away with the AI infrastructure market. Now it’s on the software and services companies to ramp up their offerings to leverage the local hardware with innovative AI apps and services.
CES also saw a range of new AI Devices and Services: Ahead of Apple’s much-anticipated launch of its Vision Pro glasses which go up for pre-order on January 19, CES also saw new AI devices and services on offer. Sony previewed 'Spatial Content’ Headset against Apple’s upcoming focus on ‘Spatial Computing’. A new company launched its Rabbit R1 $200 AI device product below (no subscription), with an ambition similar to Humane AI’s pin product rolled out a few weeks ago. Samsung had fun with its Ballie AI robot. We’re going to see a cambrian explosion of AI gadgets and services this year, including AI services like ChatGPT stuffed into our VWs and BMWs. My deeper take on this trend here.
Podcast & YouTube Recommendations🎙
* How to become a millionaire in your 20’s
* Scott Galloway talks about his successes and failures investing
* Parenting Podcast of the week
Best Links of The Week🔮
* Permanent Equity Annual Letter. Joel’s favorite private equity gourp. - Link
* "US crude oil and natural gas output is set to notch fresh records in 2024 and 2025, the government has forecast, despite mounting fears that the shale revolution that fuelled the nation’s energy boom has run its course. Average US oil production will amount to 13.2mn barrels per day this year, rising to 13.4mn b/d next year, according to an energy outlook released on Tuesday by the Energy Information Administration. The figures top the 12.9mn b/d estimated in 2023 — itself a record, surpassing levels reached before the pandemic." Source: FT
* Google is going forward with sweeping changes to how companies track users online—moves that have been years in the making. Advertisers still aren’t ready. The changes, among the biggest in the history of the $600 billion-a-year online-ad industry, center on the use of cookies, technology that logs the activity of internet users across websites so that advertisers can target them with relevant ads. Starting Thursday, Google will start a limited test that will restrict cookies for 1% of the people who use its Chrome browser, which is by far the world’s most popular. By year’s end, Google plans to eliminate cookies for all Chrome users." Source: WSJ
* "German inflation accelerated to its fastest rate for three months in December, casting doubt over investors’ hopes that the European Central Bank will start cutting interest rates as early as March. Inflation in Europe’s largest economy rose at an annual rate of 3.8 per cent in December, up from 2.3 per cent a month earlier... The reduction of government subsidies on gas, electricity and food that began last year has triggered a re-acceleration of annual inflation in much of Europe." Source: FT
* "Eli Lilly started a new online service offering telehealth prescriptions and direct home delivery of its new anti-obesity drug Zepbound, an unusual move into the drug supply chain by a pharmaceutical company with one of the hottest-selling medicines." Source: WSJ
* "Peloton is partnering with TikTok to bring short-form fitness videos and other content to the social media channel. The partnership comes as Peloton looks to attract a wider array of customers and boost subscribers amid falling sales and profits. In May, Peloton rebranded as a fitness company “for all,” and is still working to get that message out to the public." Source: CNBC
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Reviewing 2023 predictions
* Whats in store for 2024
* 2024 predictions
* Recommendations and Links
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
Welcome back and Happy New year everyone.
The market has gotten off to a very slow start. Erasing all the gains in the final five trading days of last year.
On LinkedIn I posted a little blurb on the January Trifecta that i think is important to talk about as we trade through January.
Santa failed to show up for his Rally.In investing, there are many adages or proverbs that people track.One that has become popular is the New Years Trifecta.The first leg is the Santa Clause Rally. Which combines the final 5 trading days of last year and the first 2 trading days of the new year. The second is “the first 5 days” of January.The third is “as January goes, so goes the rest of the year”.The first adage or indicator is usually measuring the S&P500, but it’s also fair game to expand it more broadly as I think it helps to see the whole market. (See attached chart from All Star Charts)So what does it all mean exactly?Last year, we had one of the best January’s in history. Which lead to one of the best performing years for a 60:40 portfolio in a long time.We’ve gotten off to a poor start here in North America. But the rest of the world, specifically Emerging Markets, Financials and Healthcare have bucked that trend.There are many strategists on the street bullish these three areas of the market.They are showing relative strength.I think that’s important to pay attention to.It’s a new year, with new trends.
2024 Predictions:
* Cancel culture gets canceled
* Ozempic (GLP-1) is bigger than AI
* S&P 500 sees a +15% gain
* Jerome Powell leaves the fed in 2024 after soft landing confirmed and before Trump
* TikTok finally gets banned in the US and Canada (After election)
* Hypest IPO of 2024 is going to be Kim K’s Spanx and Stripe
* Longevity products go mainstream
* Crypto begins a new bull market
* Software moats erode with AI
* Valuation dispersion widens
* A new generational social media product is born
* India has a blockbuster startup IPO
* US IPO market reopens; M&A stalls with regulation
* Small cap tech IPOs will make a comeback
* AI deflates healthcare
* Digital detoxes go mainstream
* The value of culture will skyrocket in the AI age
* Fed will hike more than it will cut in 2024
* Bitcoin spot ETF will not happen in 2024
* Gold will trade below $1700
* No banks will fail
* China Equities will outperform all G7 equities
* YoY US CPI measure for all of 2024 will exceed 2023 year end level
* Mag 7 will again outperform SPX 493
Podcast & YouTube Recommendations
* The best interview of Scott I have ever watched. And I’ve seen darn near all of them.
* Zeihan on Canada’s position economically
Best Links of The Week🔮
* The Case Against Travel by Agnes Callard - An argument we might all be more open to after experiencing an airport around the holidays … Especially in an age of online booking and Instagram, travel shouldn’t be considered an achievement or a hobby.
* An Extraordinary Introduction to the Birth of Israel and the Arab-Israeli Conflict (with Haviv Rettig Gur) by EconTalk Podcast - A much broader perspective on the foundation of Israel that goes well beyond 1948 and puts Zionism in a wider historical context in Europe.
* Bonus (Listen): Sam Lessin of SlowVC: The End of Factory-Farmed Unicorns on World of DaaS pod Everyone is afraid to make predictions, except Sam Lessin. Sam gives an in depth breakdown of the last five years of VC, and where it’s heading in the next five.
* Why The Age of American Progress Ended by Derek Thompson “Invention alone can’t change the world; what matters is what happens next.” The US has more Nobel prizes for science than most of Europe combined, but if there were a Nobel prize for deployment and adoption of new technologies, we certainly wouldn’t be the leading recipients.
* The Secret Life of the 500+ Cables That Run the Internet by Stephen Shankland Some of the facts about the several hundred cables that connect the global internet are unbelievable: They’re only about the width of a garden hose, and they carry 99% of intercontinental internet traffic.
* What do you actually want? by Raffi Grinberg
For the season of goal setting, a practical, replicable exercise to understand more about what you actually want and why, with grounding in modern psychology.
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
Listen in podcast app and follow below for the podcast topic arc.
* Introduction - Dan Belostotsky
* Where does Honestdoor fit in the Real Estate sector?
* Process of using Honestdoor
* Realtor.ca Court Case
* Real Estate startups
* Hypothetical Buying Agent : Selling Agent scenrio
Listen on Apple, Spotify, or Google Podcasts.
Market Update📈📉
2023 was a year of relief.
Kurt Vonnegut once correctly pondered: "The truth is, we know so little about life, we don’t really know what the good news is and what the bad news is." While 2022 was humbling and bewildering at times for many of my portfolio companies, in hindsight it was one of those moments we needed to just stay calm. Given hopefully multiple decades of life ahead of us, it matters a lot less how 2022 or 2023 went; what matters much more is what lies ahead.
Morgan Housel's recent book "Same as Ever" had this sentence that really left a mark on my mind: "To know where we are going, we should know where we have been. And when you know where we have been, you realize we have no idea of where we are going."
After the pandemic and the massive stimulus in 2020, Russia-Ukraine war, supply chain crisis, and soaring inflation of 2021-22, and then the apparent taming of inflation in 2023, it seems like a good bet that we will keep getting surprised in 2024 (and beyond). Some of them will be positive surprises, and some negatives.
What is going to be most interesting to me and the Canadian Market will be how we tackle our real estate “problem”.
This weeks podcast features Dan Belostotsky, founder and CEO of Honestdoor.
Dan was the perfect guest to round out the year that featured a volatile market in stocks and real estate.
If you’re interested in learning more about Dan and his business, check our their platform here.
links from the pod:
* "Pending home sales in October dropped to the lowest level since the National Association of Realtors began tracking them in 2001. - CNBC
* Zillow Acquires Trulia - Strathechery
* Sharptech on the future of Real Estate
* How to deal with writers block
Best Links of The Week🔮
* Blockbuster year in public markets buoyed by AI: The stock market obviously had a great year given the macro economic developments, and anticipation of a tempering Fed on rates in 2024. - WSJ
* Year-end AI Summaries and Predictions: It’s the time of year of course for year-end summaries and predictions for 2024. - The information and here for predictions
* How the $250 billion plus ‘Creator’ economy that is going to be impacted by AI in 2024. - The information
* There's also Tech products for 2024. - WSJ
* "The New York Times on Wednesday filed a lawsuit against Microsoft and OpenAI, the company behind ChatGPT, accusing them of copyright infringement and abusing the newspaper’s intellectual property. In a court filing, the publisher said it seeks to hold Microsoft and OpenAI to account for “billions of dollars in statutory and actual damages” it believes it is owed for “unlawful copying and use of The Times’s uniquely valuable works.” The Times accused Microsoft and OpenAI of creating a business model based on “mass copyright infringement,” stating their AI systems “exploit and, in many cases, retain large portions of the copyrightable expression contained in those works"." Source: CNBC
Disclaimer:
Investing in equities, fixed-income instruments and/or alternative asset classes involves substantial risk of loss. Any action you may take as a result of the information presented on this website, blog or in any Reformed Millennials Podcast (a “podcast”) is your own responsibility. By opening this page and/or listening to a podcast, you accept and agree to the terms of this full legal disclaimer. The information on this website, blog and in any podcast is presented as a general educational, informational and entertainment resource only. While Joel Shackleton is registered to provide investment advice as an Advising Representative this website, blog and any podcast does not provide, and should not be construed as providing, individualized investment, tax or insurance advice, nor as containing any recommendation to buy or sell any specific securities or otherwise make any other form of investment, or take any tax or insurance decision. Nothing contained on this website, blog or in any podcast should be construed or interpreted by you to mean that an investment in any securities presented or discussed would be suitable for you in your particular circumstances. Joel Shackleton specifically disclaim that any viewer of this website, blog or any podcast should rely in any way on any of their contents as investment, tax or insurance advice or as an investment, insurance or tax recommendation. Viewers are encouraged to consult with their individual investment advisor and other financial professionals prior to taking any potential investment actions or making any insurance or tax decisions. The views and opinions expressed herein are the personal views and opinions of Joel Shackleton and any other specific contributor to the blog or podcast only and do not necessarily reflect the views or opinions of their Firm or any of its other registered individuals or employees in partnership with Joel and his guests. Joel Shackleton disclaims any obligation to update any of the information set out on this website or any blog or podcast going-forward.
The podcast currently has 253 episodes available.
1,839 Listeners