Hello all. Last week I told you to prepare for volatility in the stock market ahead of the election. This week, that volatility has indeed arrived. The market has taken a tumble (see chart below - last 5 days), amidst virus concerns, and “Investors also remain leery about the U.S. election, and whether delays in counting mail-in ballots may lead to uncertainty in the days after the Nov. 3 election.” (WSJ).
In the News
The next wave of stimulus has been delayed and debated as of late. That puts the Fed in a tricky position.
Coronavirus concerns are to blame for the sharp swings in the market today.
Texas is slowly turning into a swing-state and we may even see it flip blue (Democratic) one day.
Callaway acquires TopGolf in a $2 billion deal. Topgolf had over $1.1 billion in revenue last year alone.
Personal Finance / Business: What does “Net 30” Mean?
One of the terms that was new to me when running my own business and negotiating contract-work was the term “Net 30”. There’s also, Net 10, Net 15, and Net 60. But what does that actually mean?
On an invoice, whenever you are getting work/services done for you, or if you are providing the work or service - “Net 30” refers to the payment terms.
Let’s use an example where you provide the work, you can send your client an invoice detailing said work and put on the invoice “Net 30”. This details the terms that you are to be paid within 30 days of the invoice date. Net 10 would mean within 10 days, Net 60 - 60 Days, and so on.
Small businesses don’t use the same payment terms with every client. They may extend net 30, 60 or 90 to trusted clients who pay on time and then extend net 10 or 15 to new or late-paying clients. Net 10, 30 and 60 are the most common net terms.
Interior of the Week
I was struggling to find a workstation photo this week, so instead: enjoy this tall and spacious living room of a modern residence in Orinda, California - looks more like a museum to me!
In Case You Missed It - Election & Stock Market (8:30)
I loved making the below thumbnail but it didn’t perform well! If you’d like to learn how the election affects the stock market historically - watch below!
Thanks for reading! See you next week.
- Humphrey