👩✈️🔨 Regulators Getting Ready to Drop the Hammer
Welcome to the Sunday Primer,
The FTX Saga continues to dominate the news cycle as we look forward to what will be done to prevent this from happening again. People’s perceptions surrounding crypto are changing and we’re calling for more regulation (or at least some). Stay tuned to the Sunday Primer so we can always give you a heads-up on what’s to come ahead.
- Humphrey, Rickie & Tim
Market Report
This week, data revealed that inflation in the U.S. cooled in October by more than expected. CPI was up 7.7% from a year earlier, the smallest annual advance since the start of the year, and down from 8.2% in September. Core prices, which exclude food and energy and are regarded as a better underlying indicator of inflation, advanced 6.3%, pulling back from a 40-year high.
With inflation cooling, this may give the Federal Reserve some room to slow down its steep pace of interest-rate hikes. Patrick Harker, President of the Philadelphia Fed, said that he expects the central bank to “slow the pace of our rate hikes as we approach a sufficiently restrictive stance.” Meanwhile, Dallas Fed President Lorie Logan said that the inflation report was “a welcome relief, but there is still a long way to go.”
FTX/Alameda Research/Sam Bankman-Fried Saga Continues
This week, the crypto world has been turned upside down as one of the biggest players in the space collapsed overnight. It was revealed that FTX and its founder, Sam Bankman-Fried, were utilizing its own token and customer funds to bailout/support Bankman-Fried’s personal trading firm, Alameda Research. For more background, refer to the last edition of Hump Days.
Even though this story is still developing, there are a couple of things we know will likely happen.
Criminal probes/investigations by multiple countries into FTX and its handling of client funds.
Increased talks of developing a regulatory framework around crypto.
A deterioration of the reputation surrounding crypto as “decentralized” given what we’ve learned now from Terra Luna and FTX.
Forecast Ahead
Economic Releases (Throughout Week)
Corporate Earnings (Throughout Week)
November 14th - Tyson Foods (TSN), Sundial Growers (SNDL), Oatly Group (OTLY), Nu Holdings (NU)
November 15th - Walmart (WMT), Home Depot (HD), Sea Limited (SE), Krispy Kreme (DNUT), Valvoline (VVV), Advanced Auto Parts (AAP)
November 16th - Target (TGT), ZIM Integrated Shipping (ZIM), Lowe’s Companies (LOW), TJX Companies (TJX), On Holding (ONON), Grab Holdings (GRAB), NVIDIA (NVDA), Cisco (CSCO), Bath & Body Works (BBWI), Star Bulk Carriers (SBLK)
November 17th - Alibaba (BABA), Macy’s (M), Kohl’s Corporation (KSS), BJ’s Wholesale Club (BJ), Palo Alto Networks (PANW), Applied Materials (AMAT), Gap (GPS), Williams-Sonoma (WSM), Ross Stores (ROST)
November 18th - JD.com (JD), Foot Locker (FL)
Message From Fundrise
Looking for a simple way to invest in real estate without having to buy and manage your own property?
Fundrise allows you to invest in real estate without you having to do the heavy lifting yourself. That’s why I choose to invest my money through a platform like Fundrise which allows me to partake in real estate returns without having to buy any properties.
How it works: Fundrise has gone and acquired more than 200+ properties worth collectively over 5 Billion Dollars through crowdfunding. They then manage the properties and pass back the profits from real estate activities back to their shareholders. Activities such as rental income, interest income, or acquiring and selling properties that have gone up in value.
Their real estate assets span across different categories such as Apartment Complexes, Single Family Homes, Hotels, and Offices
If you're looking for a short-term investment, this isn’t the best app for you. Fundrise is best for long-term investors who want a simple way to get into real estate.
Average annualized returns after fees have been stellar.
With 5 different plans geared toward different investment sizes, there’s something for everyone.
If you want to get started with Fundrise, check them out today using our link: fundrise.com/humphreytalks
What We Read Last Week
SBF secretly transferred FTX customer funds to his trading firm after it suffered losses. (Markets Insider)
Big investors are giving up on crypto markets going mainstream (Bloomberg)
GOP Weights Leadership Choices, Looks for Answers After Rough Midterm Elections (WSJ)
Twitter’s Advertising Exodus Accelerates, Despite Outreach from Elon Musk (WSJ)