👀✂️ Investors Eyeing Rate Cuts Soon...
Happy Wednesday all,
I’ve been taking some time to think about my 2024 goals, and I have some of them I’d like to share with you. I want to preface that most people don’t stick to their New Years resolutions… Listen to the following research:
Researchers suggest that only 9% of Americans that make New Years resolutions complete them. In fact, research goes on to show that 23% of people quit their resolution by the end of the first week, and 43% quit by the end of January.”
Alright with that being said, here are my goals for 2024 🤣:
Post more short from content on YouTube (3 per week) - a mix of education and entertainment
Hire an extra editor to get more long-form YouTube videos out on Finance
Continue “Mogul Mail” style of videos on YouTube for financial topics and expand to other topics
Workout 5-6x Per Week: 3 Weightlifting Days, 2 Cardio Days, 1 Flexible Day
Eat healthier
Take a vacation (minimum 10 days) to somewhere I’ve never been before
Save more money / be more frugal
What are some of your goals? Let me know by replying directly to this email!
Enjoy this week’s Hump Days!
- Humphrey, Rickie & Tim
👀 Eye-Catching Headlines
🇸🇦 Saudi Arabia seeks OPEC+ Oil quota cuts while some members resist (Bloomberg)
🏈 NFL’s Black Friday game is the latest warning sign for traditional TV (CNBC)
🛻 Musk’s Cybertruck is already a production nightmare for Tesla (Bloomberg)
🏡 Higher mortgage rates weigh on U.S. new home sales in October (Reuters)
⛹️♂️ Mark Cuban working on $3.5B sale of Dallas Mavericks to Sands casino family (AP)
✅ Hamas, Israel release more hostages, prisoners in fifth day of Gaza truce (Reuters)
💰 Investors are hungry for risk - and holding record cash sums (WSJ)
🇺🇸 Voters see American Dream slipping out of reach (WSJ)
The Weekly Brief
1. Investors See Interest-Rate Cuts Coming Soon, Recession or Not (WSJ)
Following a series of rate hikes to combat record inflation, investors now believe there is a greater chance the Fed will cut rates in just four months than raise them again.
Interest rate futures indicate a 52% chance the Fed will lower rates by at least 25bps by its May 2024 meeting.
Yields on longer-term bonds have retreated below those on shorter ones, reflecting the optimism for rate cuts in the future.
2. More U.S. Shoppers Tack on BNPL Debt for Cyber Monday (Reuters)
According to Adobe Analytics, Cyber Monday shoppers were expected to spend between $12B and $12.4B, with $782M of purchases made with Buy Now, Pay Later (BNPL) services.
This would represent a surge of nearly 19% from last year.
Affirm shares gained nearly 12% on Monday.
Economists predicted a slower holiday season compared to recent years due to financial pressure on consumers, but early indications do not suggest that to be the case.
Klarna noted it saw a 29% increase in orders placed on Black Friday, while average basket sizes declined 32% compared to last year, according to Quantum Metric.
3. Charlie Munger, Investor and Warren Buffett’s Right-Hand Man, Dies at Age 99 (CNBC)
Charlie Munger died Tuesday, according to Berkshire Hathaway, at the age of 99.
Munger died peacefully at a hospital in California. No cause was given, but he would have turned 100 on Jan. 1.
“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation,” Warren Buffett said in a statement.
In 2021, during Berkshire’s annual shareholder meeting, Munger inadvertently revealed the well-guarded secret that Vice Chairman Greg Abel would keep the culture after the Buffett era.
In 2023, his fortune was estimated at $2.3B.
For more on Munger’s full story, read the CNBC article.
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