Happy Father’s Day! I hope you are enjoying the day.
One lesson I learned from my father early on was to stay humble & save as much as possible. Even as your income increases throughout your life, try to live well below your means. You want to be rich, not just look rich.
We’ve added an “In the Markets” section recap of the week - let us know what you think!
Other than that, the Summer Solstice begins tonight at ~8PM Pacific. The longest day of the year. It’s my favorite day of the year, but also a sad one as every subsequent day in the northern hemisphere will start to get shorter and shorter. Every solstice, I like to get up at sunrise and stay up all day until sunset. The day feels endless. I encourage you to try it! Get up early and do something for yourself. You’ll undoubtedly feel great.
I hope you have a good start to your week and I’ll be releasing some even better videos shortly. Thanks for reading, as usual - Humphrey and Team (Rickie).
In the Markets
Weekly News Roundup
Jamie Dimon says JPMorgan is hoarding cash because “very good chance” inflation is here to stay
Federal reserve officials described the current period of high inflation as “transitory” or, rather brief and short-lived.
However, Dimon (CEO of JPMorgan), isn’t buying that. JPMorgan has been stockpiling cash rather than using it to make investments because the possibility of higher inflation will force the Fed to boost interest rates.
HY: The article headline can be confusing. JP Morgan is hoarding cash because they anticipate interest rates rising, so they’d rather not lock up their cash into bonds or treasuries because if interest rates rise in say, three months, bonds and treasuries bought today will be worth less than bonds and treasuries bought after the interest rate increase. The average investor (like you and I) should be hedging against inflation by investing into assets.
GM Increases its Self-Driving and EV Investment to $35 Billion
The largest automaker in the US plans to build two more battery plants in addition to the two already in construction in an effort to have 30 EVs on the market by the end of 2025 and to exclusively sell EVs by 2035.
RH: Major step towards mainstream EV adoption!
HY: Not a bad time to perhaps invest in GM if you believe in the long-term adoption of EV. I know that Ford stock is up quite a lot this year and the past month in conjunction with the release of their Ford F150 Lightning EV.
Payment Firm Wise Plans Direct Listing in Tech Win for U.K.
Digital-payments provider Wise plans to go public on the London Stock Exchange through a direct listing making them the first company to take that route to the market in the U.K.
Wise has a $7 billion valuation.
RH: Seeing a lot more direct listings now aren’t we? 🤔
In Case You Missed It
How do you know what you should pay for a stock? I go over how Warren Buffett does it in the below video! Below that, How I Would Invest $1000 into Crypto!