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📈Market News

U.S. Stocks Edge Higher After Record-Setting Session
U.S. indices extended their rally with the S&P 500, Dow Jones, and Nasdaq notching new highs on the back of broad gains - especially in tech and healthcare - as markets look ahead to jobs data later this week.

Private Equity Deal Sparks OneStream Rally
Hg Capital agreed to acquire financial software firm OneStream for $6.4B, offering a ~31% premium - sending the stock sharply higher. A strong take-private deal like this highlights continued deal-making amid market optimism.

Mixed Trading Early as Investors Eye Jobs Report
Wall Street opened mixed Wednesday after Tuesday’s gains, with traders cautious ahead of upcoming labor market data that could influence Fed policy expectations.

Sector Rotation: Tech & Healthcare Lead, Energy Lags
Healthcare, tech, and small caps helped drive gains in recent sessions, while energy stocks pulled back, reflecting shifting investor focus onto sectors with secular growth drivers.

💻Tech & Innovation

Macro Themes: AI Spending and Earnings in Focus
Analysts stress that AI infrastructure investment, strong earnings, and expected Fed rate cuts will be key drivers to sustain the market’s momentum throughout 2026.

Tech Sector Facing Maturation Test
The narrative is evolving from growth-at-all-costs toward earning-backed valuations. Investors are watching if earnings can justify rich tech multiples.

Earnings Pipeline Kicks Off
The January earnings calendar starts rolling, with major tech names like Apple, Microsoft, and NVIDIA among the scheduled reporters - events that could decisively influence sentiment.

January Effect Picks to Watch
Some beaten-down stocks are poised for rebound potential if broader markets stay constructive - a classic January effect theme worth tracking in sector rotation.

📊Investing & Strategies

Why Market Breadth Matters More Than Index Levels Right Now
Diversification and selective exposure matter when only a few stocks are driving the market. Read about how market breadth can signal turning points and why disciplined positioning helps protect gains.

What High Valuations Actually Mean for Future Returns
Even in AI-driven rallies, fundamentals like earnings and profit margins anchor long-term value. Here’s a primer on how valuation metrics help distinguish hype from substance.

The Fed Isn’t the Market’s Only Driver Anymore
Economic data can shift expectations on rates and risk assets. This explainers shows how inflation and jobs figures influence markets, helping investors read the macro tea leaves.

Why Global Diversification Is Quietly Making a Comeback
After years of U.S. dominance, valuation gaps between U.S. and international markets are hard to ignore. Europe and parts of Asia offer lower multiples, improving earnings, and currency tailwinds if the dollar weakens. Long-term portfolios may benefit from widening their opportunity set again.

🔮Looking Ahead: Strategy Thoughts

🧭 Stay Constructive, Expect Volatility
The early-year rally is a good sign, but strong starts often come with pullbacks and sharp rotations. The goal isn’t to dodge every dip - it’s to avoid getting shaken out.

📊 2026 Won’t Reward Laziness
Last year’s easy gains are fading. Going forward, returns are more likely to come from rebalancing, diversification, and discipline, not chasing whatever’s hottest.

🤖 AI Is Real - Selectivity Matters
AI remains a powerful tailwind, but markets are starting to care more about earnings and execution. Infrastructure and cash-flow winners should matter more than hype.

🧠 The Simple Playbook
Stay invested. Trim excess risk. Rebalance when markets give you chances. Process beats prediction from here.

Good morning & Happy Monday.

It’s a cautious start to the week as Wall Street mull over mixed signals: a strong December rally run leash-clipped by renewed AI valuation fears, and a backdrop of persistent rate-cut expectations. With economic data and volatility looming, investors are recalibrating risk and opportunity ahead of year-end.

Let’s get into it!

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📈Market News

US Stocks Drift as AI Sector Volatility Continues
U.S. markets opened flatter on Monday, with the S&P 500 and Dow inching lower while the Nasdaq slid modestly amid renewed AI stock weakness - despite some rebound in Nvidia shares. Investors are biding their time ahead of key economic data this week, including jobs and inflation updates that could steer Fed expectations.

Bridgewater Warns AI Spending Boom Could Be ‘Dangerous’
Bridgewater Associates cautioned that Big Tech’s reliance on external capital to fund AI infrastructure has surged dramatically - from $15B in 2024 to $125B in 2025 - raising concerns that the current AI investment cycle could resemble a bubble if profitability fails to keep pace.

Global Equities Feel AI Pressure: ASX Tumbles
Australian equities slid, with the ASX 200 down ~0.7%, led by materials stocks and broad sector weakness as AI-linked fears and commodity price pressures weighed on sentiment — underscoring that the market nervousness isn’t confined to the U.S.

Wall Street Week Ahead: Economic Reports in Focus
Investors are positioning for a data-heavy week, with job growth and inflation figures set to dominate. Markets are currently pricing in high odds of interest rate cuts next year, but volatility and profit-taking in tech names are complicating the risk backdrop.

💻Tech & Innovation

AI Hiring Rebound Adds Complexity to Job Narrative
A recent survey finds CEOs increasingly adding entry-level roles driven by AI project needs, even as executives acknowledge ongoing layoffs in some legacy lines - reflecting a nuanced picture of how AI is reshaping employment on the ground.

Oracle’s Forecast Pain Still Echoing
Oracle’s disappointing sales outlook has continued to cast a shadow over the AI space, reigniting jitters over earnings sustainability and the aggressive valuations seen in many AI-linked equities - a theme that’s rippled through tech sectors recently.

Citi’s 2026 S&P 500 Outlook Still Bullish, But With Caveats
Citi released its year-ahead forecast last week, projecting double-digit gains for the S&P 500 based on earnings growth and accommodative policy but emphasizing the need for stock selection amid mounting valuation dispersion.

Market Watchers Warn Overheated Equities Need Scrutiny
Market strategist Andrew Freris cautioned that strong equity performance, especially when driven by optimistic rate-cut expectations, may be outpacing economic fundamentals — a reminder to watch breadth and risk carefully.

📊Investing & Strategies

How to Navigate Volatile Breadth With Discipline
Diversification and selective exposure matter when only a few stocks are driving the market. Read about how market breadth can signal turning points and why disciplined positioning helps protect gains.

Why Valuation and Profitability Still Matter in Tech
Even in AI-driven rallies, fundamentals like earnings and profit margins anchor long-term value. Here’s a primer on how valuation metrics help distinguish hype from substance.

When to Lean Into Jobs and Inflation Signals
Economic data can shift expectations on rates and risk assets. This explainers shows how inflation and jobs figures influence markets, helping investors read the macro tea leaves.

The Case for Tactical Flexibility Through Year-End
In uncertain markets, tactical flexibility - adjusting exposure without abandoning strategy - can help manage risk and capture opportunities. This piece walks through practical allocation moves for choppy conditions.

🔮Looking Ahead: Strategy Thoughts

Investors begin the week positioning around major U.S. data releases and lingering AI valuation concerns, even as rate-cut expectations persist. With markets wobbling between optimism and caution, execution and discipline could matter more than prediction as we close out 2025.

Good morning & Happy Friday.

Markets are limping toward the weekend after another bout of AI volatility, with rate-cut hopes creeping back just as tech valuations wobble. Between Fed whispers, a sharp rotation out of momentum names, and fresh warning signs from the data, investors are being forced to slow down and think.

Grab your coffee and let’s get into it! ☕️

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📈Market News

Stocks Slide as AI Leaders Face Valuation Reality Check
U.S. markets pulled back Thursday as investors rotated out of high-flying AI names and into defensives, sending the Nasdaq down ~1.4% and dragging the S&P 500 lower by about 0.8%. Mega-cap leaders that powered most of 2025’s gains saw renewed selling pressure as traders locked in profits. The move wasn’t panic — it was repositioning — but it underscored how narrow this rally has become.

Fed Officials Signal Openness to Early-2026 Rate Cuts
Several Fed speakers struck a softer tone, acknowledging that cooling inflation and slowing hiring may justify cuts sooner than previously expected. Futures markets now price in a greater than 60% chance of a rate cut by March 2026, a sharp shift from just weeks ago. For investors, this keeps the “Goldilocks” narrative alive — but also raises questions about why the economy needs help.

Jobs Data Shows Cracks Beneath the Surface
New labor market data showed continued deceleration, with job growth slowing and participation flattening. While unemployment remains historically low, wage growth is easing, especially in white-collar roles tied to tech and finance. The takeaway: the economy isn’t breaking, but it’s clearly losing momentum — a backdrop that complicates equity valuations.

Oil Slips as Demand Concerns Resurface
Crude prices dipped again, with WTI hovering near recent lows, as traders focused on weaker global demand signals rather than supply risks. Energy stocks followed oil lower, adding pressure to broader indexes. Lower oil helps inflation, but falling demand expectations rarely scream “strong growth.”

💻Tech & Innovation

AI Stocks Feel the Pain as Spending Scrutiny Grows
Investors are starting to question whether massive AI infrastructure spending will deliver near-term returns. Several large-cap tech names slipped after analysts flagged rising capex and thinner margins. AI isn’t the problem - timing is - and Wall Street is no longer willing to pay any price for future dominance.

Apple Faces Pressure to Prove Its AI Strategy
Shares of Apple drifted lower as investors continued debating whether the company’s slower, more private-first AI rollout can compete with rivals’ aggressive deployments. Bulls argue Apple’s ecosystem wins long term; bears say it risks missing a generational shift. The stock is caught between patience and fear of irrelevance.

Enterprise AI Adoption Is Accelerating - Quietly
While consumer-facing AI grabs headlines, enterprise adoption is expanding steadily across logistics, healthcare, and finance. Companies report real productivity gains, not hype demos, but the benefits arrive slowly and unevenly. For investors, this reinforces that AI wealth creation may look more like a marathon than a moonshot.

Regulators Circle AI Data and Security Risks
Policymakers in the U.S. and Europe signaled tighter oversight on AI training data, cybersecurity, and model access. Tech leaders warn regulation could slow innovation, but investors may welcome guardrails that reduce long-term legal and reputational risk.

📊Investing & Strategies

Why Narrow Markets Eventually Punish Complacency
When a handful of stocks drive most returns, portfolios feel diversified but aren’t. History shows these periods often end not with crashes, but with long stretches of underperformance. The lesson: concentration works - until it suddenly doesn’t.

Drawdowns Are the Price of Admission
Even the best-performing strategies endure brutal pullbacks. Long-term winners aren’t those who avoid losses, but those who stay invested through them. Investors chasing smooth returns usually end up buying high and selling low.

Cash Isn’t Trash When Volatility Rises
Holding cash isn’t market timing - it’s optionality. In uncertain environments, liquidity gives investors flexibility to rebalance, deploy during sell-offs, or simply sleep better. Returns aren’t just about upside; they’re about staying in the game.

The Biggest Risk Is Overconfidence
Bull markets quietly convince investors they’re smarter than they are. When narratives feel obvious and risk feels low, that’s often when portfolios become most fragile. Humility remains one of the highest-return traits in investing.

🔮Looking Ahead: Strategy Thoughts

As markets head toward year-end, investors are balancing renewed rate-cut optimism against growing unease around stretched AI valuations and narrowing leadership. The next few weeks are likely to hinge on Fed communication, market breadth, and whether risk appetite can broaden beyond a small cluster of mega-cap winners. With liquidity thinning and positioning crowded, volatility may remain elevated, making discipline, patience, and flexibility more valuable than bold predictions.

Good morning - as December begins, markets are showing signs of volatility and caution. Investors are wrestling with macroeconomic uncertainty, crypto turbulence, and shifting sentiment on rate cuts. But with year-end positioning underway, there’s plenty of opportunity for strategic positioning.

Let’s get into it!

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📈Market News

Markets open December on a weak note
On the first trading day of the month, U.S. stocks dropped: the S&P 500 fell about 0.6%, while the tech-heavy Nasdaq Composite slid 0.8%.

 Crypto slump drags risk assets
A more than 6% overnight drop in Bitcoin is pressuring markets broadly. Some crypto-linked equities are down, amplifying risk-off sentiment.

Eyes on the Fed - December policy meeting looms
Investors are calibrating expectations ahead of the Federal Reserve’s December 9–10 meeting. While many expect a 25-basis-point cut, macro data from the week could sway those odds.

Rising bond yields weigh on equities
Yields on U.S. Treasuries climbed as global bond yields rose after hawkish signals from the Bank of Japan. That’s making fixed income more attractive than volatile equities.

Institutional caution grows amid mixed signals
Some large-cap tech names remain under pressure as investors rethink valuations and growth assumptions - particularly in sectors tied to AI and crypto

💻Tech & Innovation

AI and geopolitical themes drive 2025 tech posture
According to a recent thematic-investing analysis, AI and shifting geopolitical risk remain central forces shaping where capital flows in technology, defense, and infrastructure.

Tech’s role in modern investing is redefining strategies
A recent report notes that what used to be manual, slow-moving investment decisions are increasingly automated and data-driven - transforming how both institutions and retail investors allocate capital.

Concentration risk looms as mega-cap tech dominates gains
Even as tech powers much of the market advance, some analysts warn that high valuations and narrow leadership (the largest companies driving the most gains) may leave portfolios vulnerable to a broader slump.

Opportunities beyond “the usual suspects” in tech investing
As the AI arms race heats up, sub-sectors like infrastructure, cloud, data-center hardware, and cybersecurity may offer attractive entry points for long-term investors.

📊Investing & Strategies

Prepare for a 2026 driven by rate cuts — according to Bank of America
BofA now expects the Fed to cut rates 25 bps in December and deliver two more cuts in mid-2026, with a terminal range of 3.00–3.25%. That could reshape sector rotation and asset-class returns next year.

2025’s defining themes: AI, deglobalization, longevity, energy
As macro shifts accelerate globally, thematic investing may reward those who anticipate structural changes - not just short-term earnings plays.

Earnings-driven returns may broaden beyond mega caps
While large tech firms have dominated growth recently, 2025 could see profits across a broader set of companies, including those in defensive sectors or with stable cash flows.

Adopt data-driven, tech-enabled investing frameworks
Emerging research suggests AI-powered portfolio construction - combining price data, news sentiment, and relational stock graphs - may outperform traditional mean-variance methods

💡What to Watch This Week

Key economic data releases: ISM manufacturing, ADP payrolls, employment - all ahead of the Fed meeting.

Bond-yield moves globally - especially in Japan and Germany - which may influence global capital flows.

Crypto markets and retail-investor sentiment - given their outsized impact on risk appetite.

Earnings updates from major tech firms - any signs of margin pressure or demand softening could ripple broadly.

Developments around AI infrastructure spending - as new data-center buildouts and cloud investments could reshuffle valuations.

🔮Looking Ahead: Strategy Thoughts

As we enter December, the coming weeks may define market direction into 2026. A dovish Fed move, combined with stabilization in crypto and yields, could spark a late-year rally - especially in cyclical and under-owned sectors. At the same time, tech remains central, but breadth and diversification may become increasingly important. Consider blending thematic AI exposure with resilient, value-oriented names and keep liquidity ready for tactical shifts.

Good Morning & Happy Friday.

Markets were closed for Thanksgiving, so it’s a slow news day today. But bold S&P 500 predictions are here, so stay tuned!

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Market News

📈 Wall Street's 2026 forecasts are rolling in, and some see the S&P 500 hitting 8,000
Wall Street’s crystal ball is out, and it’s seeing big numbers. Deutsche Bank just dropped a bold call, they’re targeting S&P 500 at 8,000 by the end of 2026, thanks to earnings momentum, stock buybacks, and AI-powered tailwinds. Other major players like JPMorgan, HSBC, and Morgan Stanley are circling 7,500–7,800, but admit that a dovish Fed could send markets even higher. Key theme? AI boom + policy support = bull market 2.0.

🇨🇳 Puma shares pop 18% after report of Chinese buyer
Puma shares soared nearly 19% after reports surfaced that China’s Anta Sports may be eyeing a buyout of the struggling German brand. Puma’s been in reset mode post-Covid, battling slumping sales, high inventory, and a brutal sportswear market. Anta, Li Ning, and Asics are all reportedly circling, but no deals are on the table yet.

😢 Layoffs are piling up, raising worker anxiety
The U.S. job market is stuck in limbo, companies aren’t hiring much, but they’re still laying off. From AI investments to Trump’s new tariffs and even a 43-day federal shutdown, multiple factors are shaking worker confidence. Unemployment ticked up to 4.4%, and job data is patchy at best, the government won't even release full numbers for October.

⛏️ Deutsche Bank raises 2026 gold price forecast to $4,450/oz
Deutsche Bank just bumped its 2026 gold forecast to $4,450 an ounce, up from $4,000, pointing to strong central bank buying and steady investor demand. They now see gold trading between $3,950 and $4,950 next year.

This week in Tech

🪖 US defense firm Anduril faces setbacks from drone crashes
Anduril’s Altius drones crashed twice during U.S. Air Force tests this month, with one nosediving 8,000 feet over Florida. The incidents come as Anduril's Ghost drones also struggled in Ukraine, facing Russian electronic warfare. The company claims these are “isolated examples” and says an upgraded Ghost model is already in the works.

🛍️ AI takes over the holiday shopping wars
The 2025 holiday season is officially AI’s retail debut. Major players like Amazon, Target, Walmart, and Google are unleashing smart shopping tools to help consumers find, decide, and buy faster than ever. From AI gift guides in ChatGPT to "Help Me Decide" buttons and in-store navigation, this tech wave marks retail’s biggest leap since e-commerce began. Expect AI-driven traffic to spike over 1,000% on peak shopping days, and Visa and Mastercard are already prepping for AI-made purchases.

⌚️ Why can’t ChatGPT tell time?
Despite being a digital assistant, ChatGPT still can’t reliably tell the time. Sometimes it’s spot on, other times it’s wildly off, even within minutes of the same conversation. The issue? It doesn’t have access to your device’s clock or real-time data unless special features like web access are enabled. For now, AI may ace math and language... but clocks? Not so much.

👀 Here are the 49 US AI startups that have raised $100M or more in 2025
It’s been a record-breaking year for U.S. AI startups, with 49 companies raising $100M+ in 2025 alone. Several raised multiple mega-rounds, and at least seven cleared the $1B mark in a single raise. Names like Anysphere, Reflection AI, Cognition AI, and OpenAI led the pack, as venture capital flooded into infrastructure, healthcare, legal tech, and coding tools.

Invest & Strategies

🤔 Wait, Are We in a Recession???
On the latest Animal Spirits, Ben Carlson asks the big one: Are we already in a recession? Markets just saw their worst reversal in over three decades, while inflation continues to crush the middle class and P/E ratios refuse to budge. Throw in layoffs, Fed flubs, and even Ben selling Bitcoin, and yeah, it’s getting weird out there.

🤯 Is This How the AI Bubble Pops?
Nick Maggiulli warns that AI's investment boom may be hiding a financial landmine, conduit debt financing. Much like mortgage-backed securities pre-2008, these SPV-backed deals could spiral if compute demand dips, something investors assume can’t happen. If that assumption cracks, the fallout could hit pensions, insurers… even the Fed.

🛖 How I’d Invest $250,000 Cash In Today’s Market
With $250K to deploy, Financial Samurai is going long on private AI, real estate, and Treasuries. His split? 30% in venture capital (especially AI via Fundrise), 25% in real estate, 20% each in stocks and bonds, and a small sliver in education. The strategy balances safety and long-term upside, with a heavy bet that AI and CRE will lead the next big wave.

🔎 P/E Re-Ratings Off The High
From Oct 29 to Nov 20, the S&P 500 dropped 5.1%, but valuations dropped even harder. 8 out of 10 sectors saw P/E compression, with Tech taking the biggest hit: a sharp drop from 31.7x to 27.2x forward earnings.

Good Morning & Happy Wednesday.

Today’s rundown hits everything from crypto’s rebound to Nvidia’s latest dust-ups, AI shakeups, and even a wild new RAM shortage, plenty to catch up on before the holiday slowdown. With Thanksgiving tomorrow, here’s what you need to know heading into the break.

Grab you Flat White and let’s get into it! ☕️

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Market News

📈 Futures edge up as Wall Street looks to keep rallying into Thanksgiving
US stock futures ticked higher Wednesday as Wall Street tries to stretch its winning streak into the holiday slowdown, with the Dow and S&P 500 up 0.2% and the Nasdaq adding 0.3% after Tuesday’s 660-point Dow surge. Tech kept driving momentum, Alphabet hit record highs on reports Meta may use Google’s TPU chips, while Nvidia slid 2.5% on renewed competition worries. Investors are also eyeing the Fed, with markets pricing an 85% chance of a December rate cut, as Trump weighs five finalists to replace Jerome Powell.

😅 Nvidia's Business Is Booming. Its Stock Is Falling. What Gives?
Nvidia’s stock has slid more than 8% since its blowout earnings, with investors worrying that tech giants are overspending on AI infrastructure and that reports of Meta exploring Google’s custom chips could dent Nvidia’s dominance. The stock now sits about 17% below its October peak, as fears of an emerging AI bubble grow and concerns mount over hyperscalers potentially overbuilding data-center capacity. Adding fuel, Nvidia’s investments in customers like OpenAI and CoreWeave have drawn comparisons to late-’90s vendor financing, even as analysts warn that custom chips could make up 45% of AI accelerators by 2028.

💪 What's Healthy About a 'Healthy Correction' in Stocks?
Wall Street pros are suddenly cheering for a downturn, calling recent volatility “healthy” and even an “opportunity” as valuations for giants like Nvidia, Microsoft, and Amazon look stretched. Some strategists say a 10–15% pullback, or even a 25% drop, would help wash out leverage, reset expectations, and cool off the bubble chatter that’s been building across stocks and crypto. After years of easy gains, experts warn investors have grown complacent, taking on more risk and chasing huge returns. Others argue a 50% rally from here would be far more dangerous than a correction, since valuations already sit well above long-term averages.

💹 Alphabet on pace to hit $4 trillion market value as AI gains momentum
Alphabet is set to smash the $4 trillion mark, with shares jumping 4.1% premarket as the company rides a year-long surge powered by its sharper push into AI tools, putting Google’s parent alongside the elite Big Tech players battling for AI dominance. Wall Street’s fascination with AI continues to drive the momentum.

⛏️ Bitcoin Gains 10% from Lows to Stabilize Near $88,000
Bitcoin snapped nearly 10% off its $82K lows, climbing back toward $90,000 in a sharp V-shaped rebound that’s breathing life into a bruised market. It’s still 31% below October’s $126K peak, but traders say a clean break above $90K could flip sentiment bullish again. Altcoins are joining the rally, with Ether, XRP, and Solana all pushing higher, hinting at broader risk appetite returning. Bears still warn a drop toward $60K is possible.

This week in Tech

🛍️ OpenAI and Perplexity are launching AI shopping assistants, but competing startups aren’t sweating it
OpenAI and Perplexity just rolled out new AI shopping tools, letting users hunt for deals, compare products, or even upload photos for cheaper alternatives as holiday spending ramps up. Both platforms work similarly, though Perplexity leans on memory to tailor picks by location or lifestyle. With Adobe forecasting a 520% surge in AI-assisted shopping, the space looks hot, but niche startups like Onton and Phia say specialized data still beats general chatbots.

🤔 Nvidia’s ‘I’m Not Enron’ memo has people asking a lot of questions already answered by that memo
A viral Substack post over the weekend falsely claimed Nvidia “may” be committing massive accounting fraud, spooking enough people that the company sent analysts a note saying, essentially, “we’re not Enron.” The allegations, including Michael Burry’s misread of stock-based comp, don’t hold up, but they reopened debate about Nvidia’s cozy ties to neocloud firms like CoreWeave, which rely on debt and conveniently boost Nvidia’s sales. Critics argue this setup inflates the AI boom without crossing into illegality, creating behavior that’s “not healthy” but very visible. If the AI bubble pops, Nvidia could face write-downs, collapsing partners, and a flood of cheap used chips, painful, obvious, but not fraud.

💵 RAM prices are so out of control
The RAM shortage has gotten so wild that stores are posting market-price signs, with shops like Central Computers and Micro Center telling customers to ask staff because prices now change daily. In just three months, some 32GB kits have tripled, jumping from ~$130 to $440, while 64GB DDR5 can hit $900. The spike threatens GPUs, consoles, and even the Steam Machine, as Nvidia and AMD reportedly prep price hikes. Industry voices warn AI demand is soaking up DRAM supply, prompting Epic’s Tim Sweeney to say high-end gaming could take years to recover.

🎼 Warner Music signs deal with AI music startup Suno
Warner Music Group has settled its copyright lawsuit with AI music startup Suno, striking a deal that WMG says will “open new frontiers” while still protecting artists. As part of the partnership, WMG also sold Songkick to Suno, which will keep the platform running for fans. Suno will roll out licensed, upgraded models next year, with downloads locked behind paid accounts and free users limited to playback and sharing. Crucially, WMG artists, from Lady Gaga to Coldplay, will have full control over how their names, voices, and likenesses are used in AI-generated music.

🇨🇳 How Alibaba overcame Beijing’s crackdown to become an AI giant
Alibaba has clawed its way back from Beijing’s crackdown, rebuilding itself into a serious AI powerhouse after losing more than $400 billion in value post–Ant Group’s failed IPO. Under new leadership, the company refocused on core e-commerce while quietly pouring resources into AI, launching open-weight models that have become developer favorites. CEO Eddie Wu’s “AI-driven” mandate has revitalized Alibaba’s cloud business and positioned it as one of China’s strongest contenders in the global AI race.

Invest & Strategies

🏘️ Some second-order effects of unaffordable housing
A new study finds the 1990s cohort is on track to retire with homeownership rates nearly 10 points lower than their parents, and the psychological fallout is massive. When people believe they’ll never own a home, they work less, spend more, and take bigger investment risks, widening wealth gaps over time. The paper shows renters with low wealth already display these patterns. A targeted subsidy lifting renters above the “giving-up threshold” delivers welfare gains 3.2x higher than universal transfers and sharply boosts ownership, effort, and stability.

🤔 The Role of Time Availability in Retail Trading Behavior
A new study using Swedish tax data finds retirees trade way more once they have extra time, boosting both trading frequency and the number of stocks they hold. But that freedom comes at a cost: their risk-adjusted returns actually fall, suggesting more time doesn’t equal better decisions. The authors argue that time constraints normally act as a guardrail, and once lifted, retail investors trade more actively but also less efficiently.

🫧 Bubbles are obvious in Hindsight
Market history shows how hard it is to spot a bubble in real time, even though in hindsight events like 2000 or 2008 look obvious. Today’s AI-driven surge could be 1996 optimism or 1999 euphoria, depending on who you ask. Valuations outside the Mag 7 remain elevated but not “bubble” territory, and giants like Nvidia are generating real revenue, not dot-com vapor. The real question: will AI deliver the $650B+ payoff believers expect, or are we drifting into classic overconfidence? Either way, anyone certain of the answer is probably taking too much risk.

🛤️ The Railway Bubble vs. the AI Bubble
Today’s AI boom echoes past manias, from the dot-com telecom buildout to the railway bubble of the 1800s, where innovation sparked euphoria, speculation, and eventual collapse, but also lasting progress. The George Hudson saga shows how hype, weak guardrails, and “new era” thinking can fuel pump-and-dump excess, even as real infrastructure quietly transforms society. The lesson: breakthroughs can change the world while still bankrupting the investors chasing them. Innovation survives; speculation rarely does.

Good Morning & Happy Monday.

A busy week ahead, markets are eyeing a potential December rate cut, China’s AI race is heating up, and Thursday’s wild market reversal still has investors rattled. Plus, big moves in Apple, Google, Revolut, and beehiiv round out a packed tech section.

Grab you Flat White and let’s get into it! ☕️

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Market News

📈 Futures rise, sparking hopes of rebound from November losses
US stock futures ticked higher to start the shortened Thanksgiving week, lifted by renewed hopes for a December Fed rate cut after dovish comments from NY Fed President John Williams. Despite Monday’s optimism, the AI-fueled rally has cooled sharply, with the S&P 500 down 3.5% in November and the Nasdaq off more than 6%.
Markets are still digesting the fallout from the extended government shutdown as key data, including PPI and retail sales, finally trickles out Tuesday.

💰️ Fed’s December Cut Debate Heats Up
Markets are whipsawing as Fed officials split sharply on whether to cut rates in December. Doves point to cooling labor data and rising unemployment, while hawks warn inflation stuck near 3% leaves little room to ease. Freshly restored economic data is only hardening each camp’s stance ahead of the Dec. 9–10 meeting, creating a policy “Rorschach test.” With rate-cut odds swinging from 39% to 70%+ in two days, investors face elevated volatility as a dovish hold becomes the emerging base case.

🤖 Alibaba’s Main AI App Debuts Strongly in Effort to Rival ChatGPT
Alibaba’s newly revamped Qwen app has surged past 10 million downloads in a week, sending shares up more than 5% in Hong Kong. The rapid adoption puts Qwen among the fastest-growing AI apps, especially in China where ChatGPT isn’t available.
Investors see Qwen as key to Alibaba’s AI-first strategy and future valuation, with agentic features and deep integrations across shopping, maps, travel, and more on the way.

🖼️ Visualizing why Thursday’s stock market reversal was so weird and unnerving
Thursday’s dramatic market reversal felt far worse than the numbers suggest, even though the S&P 500 is still only ~5% off all-time highs. As Sherwood News noted, investors expected a full-blown celebration after Nvidia crushed earnings, but the rally collapsed almost instantly, and violently. The intraday swing was one of the most extreme in 32 years, turning euphoria into panic within hours. A decade of S&P 500 data shows just how rare and unnerving Thursday’s whiplash truly was.

This week in Tech

🍎 Apple’s future CEO has a tough act to follow
Apple is reportedly preparing for Tim Cook, now 65, to step down as CEO as early as next year, prompting a search for his successor. The leading candidate is John Ternus, Apple’s SVP of Hardware Engineering, a 23-year veteran seen as the top internal choice after COO Jeff Williams’ retirement. Ternus would inherit a strong but challenged Apple, facing DOJ antitrust pressure and criticism over its AI lag. Experts say he’s uniquely positioned to lead, the “only pick” with the depth to run Apple from day one.

🔥 How Google Finally Leapfrogged Rivals With New Gemini Rollout
Google’s new Gemini 3 model is being widely viewed as a major step forward in the AI race, outperforming rivals on industry-standard benchmarks and surprising early testers with its jump in capability. The release also marks Google’s most significant lead in years, with Gemini 3 now powering tools like Nano Banana and boosting confidence among analysts. While ChatGPT remains the most widely used chatbot, Gemini’s latest gains position it as a serious contender across a broad range of applications.

👀 Revolut completes shares sale valuing it at $75bn
Revolut has completed a major share sale valuing the company at $75bn, with heavyweight investors including Coatue, Greenoaks, Dragoneer, Fidelity, and Nvidia’s venture arm NVentures joining the round. The fintech now serves 65m customers globally and gave employees another chance to sell shares as part of its long-standing liquidity program. Revolut says momentum continues into 2025 as it pushes toward becoming the world’s first truly global bank, with launches planned in India, Mexico, and Colombia.

🐝 Beehiiv’s CEO isn’t worried about newsletter saturation
Beehiiv is expanding beyond newsletters with an AI website builder, podcast tools, and digital product support to power the full creator stack. CEO Tyler Denk says user demand is driving the shift and expects major consolidation across creator platforms. He argues there’s no “newsletter saturation”, quality and niche depth still win.
Read the full interview to hear his take on the future of the media + creator economy.

Invest & Strategies

🧠 How to Use ChatGPT Without Brain-Rot
An MIT study finds that relying on ChatGPT too early can lead to weaker learning, poorer recall, and more homogenized writing, as students using the tool couldn’t remember their own essays and showed reduced brain connectivity. But when students thought first, then used ChatGPT, their writing improved, they retained more, and their brains stayed more engaged. The key insight: AI becomes helpful only after you’ve done your own cognitive work. The paper frames early AI use as creating “cognitive debt”, an ease that feels good now but costs you later.

🐻 Do We Need a Long Bear Market?
Spencer Jakab argues that today’s investors may be unprepared for a truly long bear market, noting that past recoveries, especially without recessions, have been unusually fast. Many younger investors have never lived through a prolonged downturn, leaving their “memory banks” empty compared with previous generations.
Recent decades have seen volatility but few deep, drawn-out crashes, creating a sense of complacency even as portfolio sizes have grown. A future 40%+ drawdown would hit both new and seasoned investors hard, making diversification and risk management essential for surviving the next real bear market.

👓️ Advisers and clients see the world differently
A new study using eye-tracking technology shows striking differences in how experts, clients, and novice investors process fund performance reports. While all groups react similarly to gains, experts are far less likely to sell after losses and even show a mild buy-the-dip tendency. Eye-movement data reveals that clients fixate heavily on recent performance, especially when a benchmark is shown, making them more prone to chase returns. Experts, meanwhile, scan more broadly and rely less on short-term results. The takeaway: investors literally see information differently, and experts must guide clients toward what actually matters.

🫠 The Case for a Year-End Melt-Up
The latest Compound and Friends episode breaks down the case for a potential year-end market “melt-up,” with Michael Batnick, Josh Brown, and guest Warren Pies digging into sentiment, positioning, and what could fuel a late-year rally.

Good Morning & Happy Friday.

Today’s newsletter dives into a wild market reversal, an Asian chip-stock rout, and fresh Fed drama, plus big moves in tech from Kalshi’s billion-dollar raise to Google’s Gemini 3.

Grab you Flat White and let’s get into it! ☕️

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Market News

📉 Major Stock Indexes Post Massive Losses as Early Nvidia-Led Rally Fades
Wall Street pulled a full plot twist yesterday, massive morning gains evaporated as stocks tanked, even with Nvidia flexing monster earnings and “off-the-charts” AI demand. The Nasdaq sank 2.2%, the S&P 500 slid 1.6%, and the Dow flipped a 700-point surge into a 400-point faceplant. Nvidia went from +5% to –3.2%, the jobs report came in hot but unemployment ticked up, and Bitcoin cratered to $86K as crypto names got wrecked. One winner? Walmart, blasting 6.5% higher after crushing earnings and announcing a move to the Nasdaq.

🔻 SoftBank sinks over 10% as Nvidia-fueled rout sweeps Asian chip shares
Asian chip stocks got slammed Friday, with SoftBank nosediving over 10% as Nvidia’s surprise drop rippled across the sector. SK Hynix plunged nearly 9%, Samsung slid almost 6%, and TSMC fell close to 5%, despite Nvidia beating earnings and guiding higher. Analysts chalked the selloff up to Bitcoin turbulence, rate-cut doubts, and fresh AI-bubble fears, turning Nvidia into the first pressure point. Even smaller players weren’t spared, Renesas dipped, Tokyo Electron sank 7%, and Advantest cratered over 12% in a broad semiconductor retreat.

🥇 Gold on track for weekly fall as strong US jobs data dents rate-cut hopes
Gold slipped again Friday, sliding 0.9% to about $4,040 as a hotter U.S. jobs report strengthened expectations that the Fed will hold off on cutting rates in December. The stronger dollar, on track for its best week in over a month, piled on more pressure. Analysts say year-end profit-taking and rate uncertainty are keeping traders cautious, with Asian physical demand staying weak. Silver fell 2.2%, while platinum and palladium also dipped, extending the metals market’s choppy week.

👀 Hassett says government shutdown impact means Fed should cut rates in December
A hotter-than-expected September jobs report is boosting bets the Fed may pause rate cuts, but former NEC director Kevin Hassett says doing that now would be a “very bad time,” warning the shutdown could shave 1.5 percentage points off Q4 GDP. He argues the rebound to 119,000 jobs isn’t enough to offset shutdown damage, travel disruptions, and uneven hiring trends. Hassett says inflation is improving and construction hiring is picking up, but the overall Q4 headwinds make a rate-cut pause risky.

This week in Tech

💰️ Kalshi’s valuation jumps to $11B after raising massive $1B round
Prediction market giant Kalshi just pulled in a staggering $1 billion at an $11B valuation, barely two months after its previous $300M raise. The round was led by returning heavyweights Sequoia and CapitalG, with backing from a16z, Paradigm, Anthos, and Neo. The move ramps up Kalshi’s rivalry with Polymarket, which itself is eyeing a valuation as high as $15B after its own billion-dollar raise. Kalshi’s rise has been fueled by soaring interest in election betting and high-visibility campaigns, including live odds screens in NYC subways, as millions worldwide wager on everything from 2025’s Person of the Year to the next U.S. president.

💬 ChatGPT launches group chats globally
ChatGPT just rolled out global group chats for all users, Free, Go, Plus, and Pro, turning the AI from a solo assistant into a full-on collaboration hub. Up to 20 people can join a shared convo to plan trips, co-write docs, debate, or research together. Users can tag @ChatGPT to jump in, while everyone keeps their own private settings and memory. Adding new people creates a fresh thread, and yes, ChatGPT can now throw emoji reactions and reference profile photos.

‼️ Australia adds Amazon's Twitch to teen social media ban, spares Pinterest
Australia just confirmed Twitch will be part of its world-first under-16 social media ban, kicking in Dec. 10, while Pinterest escapes the list. Regulators say Twitch counts as social media because kids can interact and communicate there, something Pinterest isn’t primarily built for. Twitch will deactivate all under-16 accounts by Jan. 9 and block new ones once the rules start.

🧠 Gemini 3 Is Here, and Google Says It Will Make Search Smarter
Google just unveiled Gemini 3, calling it its most intelligent model yet with sharper reasoning, multimedia skills, and stronger coding chops. The company says it’s already powering products like Search, Maps, Gmail, and AI Overviews, where visual and natural-language queries are surging. Leaders claim the model outperforms GPT-5, and Google’s massive user base is accelerating improvements across the stack. Gemini 3 rolls out soon to AI Plus and AI Pro subscribers, alongside new tools like the Antigravity coding assistant, another step toward what DeepMind says is still 5–10 years from true AGI.

Invest & Strategies

🇺🇸 What the Declaration of Independence Can Teach Us About Investing
Walter Isaacson’s new book breaks down how the Declaration of Independence was built through teamwork, relentless revision, and moral growth, offering lessons that still hit today. He argues innovation happens through collaboration, lives improve through constant self-correction, and progress comes from connecting passion to a larger purpose. Franklin, Jefferson, Adams, and others modeled how a nation, like a person, must keep refining itself.

📚️ Essential Wisdom from Twenty Personal Investing Classics
A new synthesis of twenty classic personal-finance books boils the whole game down to one message, keep it simple, stay disciplined, and don’t let costs or emotions wreck your future. The authors, from Bogle to Housel, agree that low-cost index funds, smart saving habits, and broad diversification beat nearly everything Wall Street sells.

😅 The One Thing My Worst Investments Had in Common
An investor reflects on his biggest mistakes, and they all trace back to one thing: illiquidity. From fractional art to private company stakes, he realized too late that an asset you can’t sell is often worse than one that simply loses money. Illiquid bets have left him stuck in “investment purgatory,” with private shares now worth more as a tax loss than as holdings, and no easy exit. Private equity and VC aren’t much better, with capital often locked up for 10–15 years and valuations slow to adjust, a problem echoed by analysts like Dan Rasmussen.

🦉 10 Things We Can Learn From Warren Buffett That Have Nothing to Do With Money
A Thanksgiving tribute highlights Warren Buffett as he heads for “early retirement” at 95, celebrating not just his legendary investing but the character and clarity he modeled for generations. The author says the deals will fade from memory, but Buffett’s aphorisms and values, humility, patience, integrity, stick forever, including classics like “When the tide goes out…”. It’s a reminder that Buffett’s greatest lessons aren’t about money at all, but about how to live well.

Good Morning & Happy Wednesday.

A choppy market, a geopolitical flare up, and a wave of AI driven headlines set the tone this morning. From Bezos launching an AI startup to Cloudflare’s global outage and Berkshire’s surprise Google buy, there’s a lot to unpack.

Grab you Flat White and let’s get into it! ☕️

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Market News

📉 Yesterday, the S&P 500 Closed Lower for 4th Straight Session as Tech Stocks Remain Under Pressure
Markets took another hit yesterday, with the Dow, S&P 500, and Nasdaq all sliding again as traders second-guess sky-high AI valuations. Nvidia dropped another 2%, even after announcing massive partnerships with Microsoft and Anthropic, while Microsoft and Amazon sank on fresh ratings cuts. Home Depot cratered 6% on weak earnings, Cloudflare got dinged by an outage ripple, and even Alphabet’s record run cooled off, slipping after unveiling its new Gemini 3 model.

📈 Stock Futures edge up as Wall Street awaits Nvidia earnings
Futures are inching higher this morning, with the S&P 500 and Nasdaq 100 up about 0.2% as traders hold their breath for Nvidia’s earnings, a report that could swing the stock by 7% and jolt $300 billion in market value. After a rough stretch where major indexes notched multiple straight declines and Bitcoin even slipped under $90K, investors are clearly rethinking risk.

Retail earnings from Target, Lowe’s, and TJX will hit before the bell, offering a rare post-shutdown window into consumer strength. And tomorrow’s delayed September jobs report could be the data point that finally shapes expectations for a potential December Fed rate cut.

🫧 AI Stock Rally to Overcome Bubble Concerns, Fidelity Says
Fidelity’s calling it early, the AI party isn’t anywhere near last call. Despite a pullback in chip stocks ahead of Nvidia’s earnings, portfolio manager Joseph Zhang says the slump is just a breather and the rally should keep rolling as long as spending and adoption stay hot. Investors still see AI as a generational tech shift, not a fad, especially with big names like Jeff Bezos jumping in.

🇨🇳 Japanese seafood caught up in escalating diplomatic dispute with China
China just fired back hard, telling Japan it will fully ban all Japanese seafood imports, reversing the partial easing seen earlier this year and blindsiding nearly 700 exporters eyeing a comeback. The move amps up an already-heated diplomatic feud sparked after new PM Sanae Takaichi warned that a Chinese assault on Taiwan could force a Japanese military response. Beijing’s also been warning citizens against traveling to Japan, signaling this clash is spreading well beyond trade.

🤔 Why the Fed’s Next Interest Rate Move Is Becoming So Hard to Predict
Fed officials are split right down the middle, with some hawks pushing to keep rates high to crush inflation while doves warn the weakening job market needs relief now. With rate-cut odds stuck near 50%, traders are just as confused as the policymakers themselves. The economy’s in that ugly middle zone, inflation still too hot, hiring cooling too fast, and the Fed’s December decision is shaping up to be a real showdown.

This week in Tech

👀 Jeff Bezos Creates A.I. Start-Up Where He Will Be Co-Chief Executive
Jeff Bezos is officially back in the operator’s chair, stepping in as co-CEO of a new AI startup called Project Prometheus, and he’s backing it with a massive $6.2 billion war chest. It’s his first real hands-on role since leaving Amazon in 2021, signaling just how seriously he’s taking the AI race. Between Blue Origin, a Venice wedding, and now a mega-funded AI launch, Bezos is clearly shifting from retiree mode to empire-builder mode all over again.

🤖 The state of Chinese LLMs
China’s top LLMs are crushing benchmarks, slashing token costs, and handing out full model weights like party favors, which is why insiders say up to 24% of new U.S. startups are secretly using them. Big names like Airbnb already admitted it, and tools like Cursor and Windsurf may be running Chinese planners under the hood. But despite the speed, price, and real chain-of-thought access, global adoption is still weirdly low, compute bottlenecks, heavy quantization, and doubts they’ve actually matched U.S. models keep most devs hesitant. And the wildest twist? Chinese state hackers reportedly used American closed models for sensitive ops, handing the U.S. a full logbook. What is happening?

⚡️ Why Anthropic CEO Dario Amodei spends so much time warning of AI's potential dangers
Anthropic isn’t hiding the scary stuff, blackmail emerging in tests, Chinese hackers weaponizing its models, and CEO Dario Amodei says that transparency is the whole point. It hasn’t slowed them down: 300,000 businesses now use Claude, making up 80% of revenue. Amodei warns that AI is racing toward “smarter than most or all humans”, and he’s blunt about the risks: misuse, economic shock, even loss of control. In a trillion-dollar arms race, he says you can’t sugarcoat the unknown, you just face them and admit you might be wrong.

🐛 Cloudflare outage takes down half the Internet
Cloudflare just lived through its worst outage since 2019, and it wasn’t a hack, but a tiny database permissions tweak that spiraled into a global meltdown. A duplicated feature file for its bot-management system ballooned past size limits, crashing proxies and triggering waves of 5xx errors across the internet. From broken logins to stalled APIs, the network seesawed for hours until engineers rolled back the bad file and rebooted core systems, finally restoring stability by 17:06 UTC. Cloudflare says the failure was “unacceptable”.

🔻 Peter Thiel's fund offloaded Nvidia stake in third quarter
Peter Thiel just cashed out of Nvidia, completely. His hedge fund dumped all 537,742 shares last quarter, a stake worth roughly $100 million, adding fresh fuel to fears that the AI boom is tipping into bubble territory.

Invest & Strategies

☕️ Warren Buffett's Berkshire Hathaway Just Bought Google Stock. Should You?
Alphabet popped more than 3% Monday after Warren Buffett’s Berkshire Hathaway quietly scooped up 17.8 million shares, a nearly $5 billion bet on a stock that’s already surged 50% this year. That’s a rare move for a value shop that usually hunts for beaten-down bargains, not Magnificent Seven high-flyers. But Berkshire clearly sees something worth paying up for, even as it trims its giant Apple stake. When Buffett buys, Wall Street listens, and Alphabet just got the full Buffett bump.

🤔 Bitcoin suffering “Painvember” as bitcoin ETFs suffer $1.1 billion in outflows
Bitcoin’s Q4 has officially gone off a cliff, its worst since 2018, turning the usually bullish November into full-blown “Painvember.” Prices slipped under $93K, ETF outflows hit $1.1B last week, and fear gauges are screaming extreme panic. Analysts warn a drop toward $84K is on the table unless BTC can reclaim $100K with strong volume. Yet dip-hunters say this could be the last sub-$100K buying window, and Michael Saylor just doubled down with an $835M purchase, pushing his firm’s stash to nearly 650K BTC.

😅 Why Oracle has struggled recently
Oracle’s AI moonshot is spooking Wall Street, hard. The company is borrowing heavily to fund a massive chip-and–data-center expansion tied to OpenAI, and investors are balking at the scale and speed of the gamble. Shares have cratered 25% in a month, wiping out $250 billion in value, while Oracle’s debt prices are sinking faster than any Big Tech peer. Analysts warn the company’s late pivot to cloud, now stapled to an all-in AI bet, is a capital-intensive model with thin value creation, and the market is punishing it.

🔎 Thoughts on Berkshire Hathaway's Q3 2025 investment activity
Berkshire’s latest 13F dropped a bomb: a fresh Alphabet stake worth more than $5 billion, a rare mega-bet on big tech from a firm that usually hunts for bargains, not giants. Whether it was Buffett or his lieutenants, the move lands just as Google posts its first-ever $100B quarter and proves AI hasn’t dented its search dominance. Alphabet’s cash pile, buybacks, dividend, and cultural moat (“Google” is literally a verb) all fit Berkshire’s playbook, even as the firm trims Apple again. If this buy was Buffett’s swan song before retirement, it’s one poetic callback to a regret he’s voiced for years, missing Google the first time around.

Good Morning & Happy Monday.

Big week ahead: markets gear up for Nvidia earnings, a pivotal jobs report, and fresh debate over Trump’s $2k “dividend” checks. In tech, Apple faces a $634M verdict while the U.S. pushes for AI security upgrades, and Europe rethinks its 2035 gas-car ban. Plus, we break down a lopsided market rally, a surprising drawdown strategy, and why the economy might be better than the headlines say.

Grab you Flat White and let’s get into it! ☕️

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Market News

📈 Futures rise as investors count down to Nvidia earnings, jobs report
Tech stocks tried to kick-start the stalled rally Monday, with Nasdaq 100 futures jumping 0.7% and the S&P 500 up 0.4%, while the Dow basically took a nap.
But after last week’s roller-coaster drop in megacap names like Alphabet, Amazon, Broadcom, and Meta, investors are now laser-focused on this week’s jobs report.
Even though the S&P 500 and Dow barely closed last week in the green, Thursday’s wipeout is still hanging over the market like a storm cloud.

📆 What to Expect in Markets This Week
Earnings week is about to punch the market awake, with Nvidia front and center as investors brace for more AI-driven volatility. Retail heavyweights Walmart, Target, and Home Depot are also dropping results. With economic reports creeping back online and housing data in limbo, this week could get choppy fast.

💵 Trump's $2k 'dividend' checks would need Congress vote
Treasury Secretary Scott Bessent says Trump’s plan for $2,000 tariff-funded “dividend” checks needs Congress to sign off, so it’s far from a done deal. Trump insists the money would go to “everybody but the rich,” but watchdogs warn the plan could cost twice what tariffs bring in next year. Bessent, meanwhile, says Americans should feel relief soon as tax cuts kick in and inflation finally starts to cool.

👎️ Traders bet against December cut
With agencies finally rolling out shutdown-delayed economic data, Fed officials are still split, some pushing inflation worries, while the Fed’s most dovish voice hints another rate cut makes sense. Markets aren’t convinced: futures now show a 60% chance of no December cut, a sharp flip from just a day earlier. But with fresh data dropping next week and more Fed speeches coming, traders could turn on a dime all over again.

🚀 The Dow Is Close to 50,000. How the Heck Did We Get Here So Fast?
The Dow racing toward 50,000 is wild, not just because it’s a monster round number, but because the first 10,000 took more than a century of crises, crashes, and chaos to break through. Since then? Milestones like 20k, 30k, and 40k have flown by with barely a shrug. Now the index is surging on an AI-fueled boom that some call a revolution…and others call a bubble ready to pop.

This week in Tech

👀 Jury says Apple owes Masimo $634M for patent infringement
Apple just got hit with a $634 million verdict, after a federal jury ruled the Apple Watch infringed Masimo’s blood-oxygen tech patent. Masimo called it a major win for protecting medical innovation, while Apple blasted the verdict as “contrary to the facts” and vowed to appeal. This feud goes way back, Masimo says Apple poached key staff and stole its pulse-oximetry tech, and the ITC even banned Apple Watch blood-oxygen features last year.

🔐 How to protect American AI fro nation-state level threats
America’s racing toward Security Level 5, a full-blown push to shield critical AI systems from nation-state hackers, insider threats, and supply-chain tampering, as experts warn market incentives alone won’t cut it. The plan calls for a national AI security sprint, hardening software, securing hardware, tightening personnel vetting, and even building ultra-secure government-run data centers, all to keep frontier models from being stolen or sabotaged. With AI now powering defense, coding, and cybersecurity itself, the proposal argues the U.S. needs SL5-ready tools now, so it can quickly lock systems down the moment they become strategically essential.

🇪🇺 Europe banned new gas cars after 2035, now it’s reconsidering
Mercedes-Benz chief Ola Källenius says loosening Europe’s 2035 combustion-engine phaseout isn’t surrender, it’s “a smarter strategy” as weak EV demand, job cuts, and sluggish infrastructure make the old timeline unrealistic. He argues carmakers have already poured billions into green tech, but Europe now needs flexibility to stay competitive, protect workers, and still hit its 2050 carbon-neutral goal. Källenius insists the mission hasn’t changed, only the path to get there.

Invest & Strategies

☕️ Are U.S. Stocks Running Out of Steam?
Markets are looking top-heavy and pricey, with the CAPE near 40 and the top 10 stocks swallowing about 40% of the index, levels that almost always spell muted long-term returns. History shows that when valuations get this extreme, the next decade usually disappoints, even if the hype feels unstoppable in the moment. Still, instead of panic-selling, the smarter play is diversifying globally, leaning into value and small caps, and remembering that every market eventually shifts seasons, usually right when investors grow convinced it won’t.

🤔 Few Stocks at 52-Week Highs, Even as Market Hits Records
The market may look strong on the surface, but it’s a lopsided rally, with the US Large-Mid Index hitting records even as the median stock sits about 15% below its high. Nearly all the giants, Nvidia, Apple, Alphabet, are hovering near peaks, while most sectors lag, especially real estate. With just a handful of megacaps driving the gains, investors face a clear risk: if the leaders slip, the whole index goes with them.

🙋 What If Things Are Better Than They Seem?
A lot of people feel stuck in a K-shaped economy, where the rich ride high on soaring asset prices while everyone else battles crushing costs, but the picture isn’t as hopeless as the vibes suggest. Yes, life is expensive, yet stock ownership has quietly exploded: nearly two-thirds of households now own stocks, with the bottom 50% seeing holdings jump 350% since 2020. Young investors are piling in earlier than ever, incomes are higher than past generations, and homeownership, while slower, is still rising. Things are tough, no doubt, but the data shows the system’s upside is reaching more people than headlines let on.

🐿️ A Jane Street Alum Teaches Trading
Patrick McKenzie’s new podcast kicks off with a must-hear deep dive into how elite firms like Jane Street actually teach trading, featuring ex-JS trader Ricki Heicklen. Far from the usual “trader bootcamp” fluff, the episode digs into adverse selection, liquidity incentives, order-book info leaks, and the real mechanics behind market making. It’s packed with insights on model thinking, position sizing, and why trading is ultimately an information game, making it instant canon for anyone serious about markets.

👀 A Winning Investment Strategy Sitting Right Under Your Nose (If You Can Hold It)
A new study shows even superstar stocks endure brutal drawdowns, which inspired a test: what if you simply bought stocks after they crashed 50–90% and held on? Surprisingly, those “dumpster-diving” portfolios crushed the market long-term, thanks to a tiny handful of mega-winners like Nvidia and Apple delivering life-changing gains. The catch, of course, is insane volatility and tons of losers, making it a strategy fund managers will never touch, but one patient, contrarian investors could exploit if they’ve got the stomach for pain.

Good Morning & Happy Friday.

Big moves across markets and tech today from the Fed wobbling on rate cuts and a sharp sell-off in stocks to the U.S. and Switzerland inching toward a tariff truce and Michael Burry shutting down his fund.

Samsung’s chip-price shock, Blue Origin’s big rocket win, China’s EV distortions, and fresh AI-bubble warnings also hit the headlines, while investors sized up 50-year mortgages, surging gold, private-market risks, and even a hedge fund built around Hermès bags.

Grab you Flat White and let’s get into it! ☕️

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Market News

📉 Fed Doubts Grow Over December Rate Cut
Minneapolis Fed boss Neel Kashkari just threw some cold water on the idea of another December rate cut, saying he didn’t even support the last one and still isn’t sure what he’ll back next month. He says the economy keeps showing “underlying resilience”, meaning the Fed might pump the brakes on cutting again. Meanwhile, more officials are sliding into “hold” mode, and markets are listening, rate-cut odds for December have plunged from near-certain to basically a coin flip.

👇️ A tumble in tech leads the stock sell-off as rate cut pessimism rises
Wall Street got rocked yesterday, and futures continue to drop, with the S&P 500, Nasdaq 100, and Russell 2000 all sliding as the historic government shutdown wrapped and traders panicked over missing data. December rate-cut odds have crashed from 95% to a coin flip. Tech led the flop, momentum names like Palantir and Applied Digital cratered, and speculative AI/quantum/energy plays got absolutely steamrolled.

🇨🇭 US, Switzerland close in on deal to ease Trump's crippling tariffs
Switzerland and the U.S. just inched way closer to a tariff truce, with both sides calling Thursday’s talks “very positive” and Swiss officials hinting a deal is basically done. The big move on the table: slashing Trump’s brutal 39% tariffs down to 15%, a shift Swiss industries say would be a “ray of hope.” Behind the scenes, Switzerland pitched a plan to shrink its massive U.S. trade surplus, while U.S. officials signaled Trump could sign off if the terms look good.

📕 Michael Burry of 'Big Short' fame is closing his hedge fund
Michael Burry, yes, the “Big Short” guy, is shutting down Scion Asset Management, telling investors he’ll liquidate by year-end because his view of value “has not been in sync with the markets.” The SEC now shows Scion’s registration as terminated, and Burry’s already teasing a pivot, posting: “On to much better things Nov 25th.” He’s been firing bearish shots at mega-cap tech and AI names, including a $9.2M put position against Palantir.

🏰 Disney Stock Falls Nearly 8% as Revenue Misses Estimate
Disney’s latest quarter was a mood swing in chart form, profits up, revenue down, and Wall Street only cared about the latter, smacking the stock nearly 8%. Earnings beat at $1.11 per share, but revenue missed expectations thanks to no blockbuster releases and the company’s aging linear TV business dragging hard. Add in the YouTube TV blackout hitting ESPN and you’ve got even more pressure on the entertainment arm.

This week in Tech

🧠 Samsung hikes memory chip prices by up to 60% as shortage worsens
Samsung just cranked up memory-chip prices by as much as 60%, a massive jump driven by the global sprint to build AI data centers, and buyers are swallowing the hikes because supply is that tight. DDR5 modules that cost $149 in September are now going for $239, with similar spikes across 16GB, 64GB, 96GB, and 128GB parts. Server makers and cloud builders are basically panic-buying, accepting they won’t get enough inventory, and the ripple effects are ugly, smartphones, PCs, and other hardware are all about to get more expensive.

🚀 Blue Origin sticks first New Glenn rocket landing and launches NASA spacecraft
Blue Origin just pulled off a SpaceX-style milestone, landing its massive New Glenn booster on a drone ship, and doing it on only the rocket’s second attempt. Even Musk and Shotwell tipped their hats. But the real flex? New Glenn also delivered its first commercial payload, two NASA spacecraft headed to Mars to study the planet’s atmosphere. With a successful landing and a clean deployment, Blue Origin just signaled it’s ready to challenge SpaceX for the heavy-lift crown.

🚗 China’s EV Market Is Imploding, but not in the way you think
China’s EV market is so cutthroat that dealerships are now selling “used” electric cars that have literally never been driven, all because automakers are pushing inventory out the door to hit inflated sales targets. Dealers register cars as “sold,” then dump them at discount, a tactic so rampant that The People’s Daily blasted it as market distortion and “data worship.” To outsiders, Chinese EVs look like a symbol of tech dominance. Inside China, they’re a warning sign: Beijing’s heavy-handed market meddling is creating pressures that could ripple far beyond its borders.

😅 Bitcoin is down in Q4 but not as bad as its largest corporate treasury firms
Bitcoin may be down 14% this quarter, but bitcoin treasury firms are getting hammered far worse, with names like Strategy, Metaplanet, and Twenty One Capital sliding 30–35% as the “pivot to BTC” glow fades. Several DATs now trade at or below 1 mNAV, meaning their stock is worth less than the bitcoin they hold. Analysts warn the mood is “horrible,” the flywheel has flipped, and consolidation, or even forced asset sales, may be coming if BTC doesn’t rebound. Still, some investors are doubling down, betting firms like Strategy can grow BTC per share even with mNAV underwater.

🫧 AI companies admit they’re worried about a bubble
Top tech CEOs are now saying the quiet part out loud: the AI sector is looking bubbly, with valuations soaring even as many startups have “no revenue… just noise and vibe.” DeepL’s chief says the signs are clear, Picsart’s CEO agrees, and Michael Burry’s warnings about overstated profits at hyperscalers have only amplified the anxiety. But no one’s bearish on AI itself, the long-term industrial outlook is still glowing, even if the financial side feels frothy. As Lyft’s CEO put it: “We are absolutely in a financial bubble… but the tech is transformational.”

Invest & Strategies

🏘️ Trump Floats 50-Year Mortgages, But Would You Want One?
Trump’s push for a 50-year mortgage sounds like affordability magic, but the math doesn’t really deliver, monthly payments drop only about $100 on a median home, while interest costs explode and equity builds at a crawl. Experts warn the idea misses the real problem: a 3–4 million home shortage, not loan length. Longer terms just juice demand, pushing prices even higher. After 10 years, a 50-year borrower builds $40K less equity, and after 20 years the gap balloons to $115K, a huge hit to long, term wealth.

⛏️ Where Do Gold Prices Go From Here? Here's What Experts Say
Gold is heating up again, rebounding to around $4,260/oz after slipping from last month’s record highs, and analysts say the rally still has legs. Demand from U.S. gold ETFs is surging, with trading volume hitting a record $208B per day, easily offsetting weaker jewelry and bar buying. UBS says another 10% jump to $4,700 is on the table if political or market risks flare, and the backdrop is already shaky: a short-term government funding deal, legal uncertainty around Trump’s tariff powers, and the possibility of more Fed rate cuts.

⚠️ Private Markets: Why Retail Investors Should Stay Away
A new CFA Institute analysis warns retail investors to think twice before diving into private markets, arguing that illiquidity, opaque performance, and misaligned incentives already trip up institutional pros, let alone smaller investors. With most PE funds failing to return capital on time, secondary markets thin, and performance eroding as the industry chases scale over skill, the risks stack fast.

🛍️ You Can Now Invest In A Hedge Fund Dedicated To Hermès Bags
There’s now a hedge fund built entirely around Hermès Birkin and Kelly bags, and early investors are already banking real returns. Luxus, backed by Christie’s, launched two funds that treat the ultra-exclusive bags like investment-grade assets, with the first raising $1M and netting 34% ROI in just 43 days. The pitch is simple: Birkins behave like gold, steadily appreciating thanks to scarcity, cultural hype, and a roaring secondary market. Luxus handles authentication, curation, and resale, and investors even get first dibs on the bags at discounted prices.

Good Morning & Happy Wednesday.

Markets are eyeing Washington as a potential shutdown deal nears, while SoftBank, Buffett, and CoreWeave headline a busy corporate slate. In tech, AI’s boom is driving trillions in data center spend, Europe’s catching up fast, and the rich are loving their chatbots more than ever.

Grab you Flat White and let’s get into it! ☕️

The AI Race Just Went Nuclear — Own the Rails.

Meta, Google, and Microsoft just reported record profits — and record AI infrastructure spending:

• Meta boosted its AI budget to as much as $72 billion this year.

• Google raised its estimate to $93 billion for 2025.

• Microsoft is following suit, investing heavily in AI data centers and decision layers.

While Wall Street reacts, the message is clear: AI infrastructure is the next trillion-dollar frontier.

RAD Intel already builds that infrastructure — the AI decision layer powering marketing performance for Fortune 1000 brands. Backed by Adobe, Fidelity Ventures, and insiders from Google, Meta, and Amazon, the company has raised $50M+, grown valuation 4,900%, and doubled sales contracts in 2025 with seven-figure contracts secured.

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_{This is a paid advertisement for RAD Intel made pursuant to Regulation A+ offering and involves risk, including the possible loss of principal. The valuation is set by the Company and there is currently no public market for the Company's Common Stock. Nasdaq ticker “RADI” has been reserved by RAD Intel and any potential listing is subject to future regulatory approval and market conditions. Investor references reflect factual individual or institutional participation and do not imply endorsement or sponsorship by the referenced companies. Please read the offering circular and related risks at invest.radintel.ai.}

Market News

📈 Dow, S&P 500, Nasdaq futures rise as key shutdown vote looms in House
U.S. stock futures edged higher Wednesday as investors rotated out of Big Tech and into more defensive plays while awaiting a House vote to end the record-long government shutdown. The Dow rose 0.2%, S&P 500 added 0.4%, and Nasdaq 100 gained 0.7% in premarket trading. Markets are also watching Fed officials’ speeches for rate-cut clues and digesting a weak ADP jobs report, which hinted at a cooling labor market. Meanwhile, Disney, Cisco, and Applied Materials headline the week’s remaining earnings.

👀 SoftBank shares slide as Nvidia stake sale highlights AI funding needs
SoftBank shares tumbled up to 10% after the company revealed a $5.8B sale of its Nvidia stake to help fund massive new bets, including $22.5B for OpenAI, a $6.5B Ampere acquisition, and a $5.4B ABB robotics deal. Analysts estimate SoftBank has committed over $41B in recent investments, straining liquidity despite a cash pile of about $28B. CEO Masayoshi Son remains all-in on AI, betting big that today’s valuations reflect real demand, not another bubble.

🦉 Why Warren Buffett Says He's Not Selling His Berkshire Stake Just Yet
In his Thanksgiving letter, Warren Buffett reassured investors he’ll keep a “significant” stake in Berkshire Hathaway even after stepping down as CEO later this year, signaling full confidence in successor Greg Abel. He also revealed plans to accelerate donations of his $150B fortune to his children’s foundations. After 60 years at the helm, Buffett’s message was clear, Berkshire’s legacy and leadership are in good hands, even as the “Buffett premium” begins to fade from its stock.

🔽 CoreWeave Posts Revenue Beat but Stock Drops on Data Center Troubles
CoreWeave’s stock dropped 8% after an otherwise strong quarter, as executives admitted a data center buildout delay from a third-party developer. The company posted $1.36B in revenue, beating forecasts, but issued cautious 2025 guidance below expectations. Despite setbacks, CEO Michael Intrator said AI demand remains “far above supply,” with a $55.6B backlog driven by massive deals with Meta, OpenAI, and Nvidia, proof that even AI’s hottest cloud provider can hit a speed bump on the way up.

🤔 Is the stock market now driving the economy?
The piece argues that the job market, not Wall Street, is still the real engine of the U.S. economy, even if recent trends suggest otherwise. Despite rising unemployment, Americans keep spending, helped by soaring wealth from stocks and real estate. This “wealth effect” may be cushioning the slowdown, but it’s no substitute for steady jobs. The author’s takeaway: the stock market can’t prop up a $23 trillion economy forever, eventually, Main Street has to matter again.

This week in Tech

🏃‍♂️ The global race for the AI app layer is still on
Accel’s 2025 Globalscape report finds that while the U.S. leads in foundation AI models, Europe and Israel are rapidly catching up in the AI application layer, with startups like Lovable and Synthesia emerging as standouts. European and Israeli AI firms have raised 66 cents for every U.S. dollar this year, a massive leap from a decade ago. Accel says these AI-native startups are scaling faster and more efficiently than ever, signaling a global shift where Europe’s software ecosystem finally stands toe-to-toe with Silicon Valley.

😓 How Meta made Wall Street question the AI rally
Stocks stumbled after Halloween, as Meta’s hefty AI spending plans spooked investors and reignited fears of an AI bubble. The selloff followed what some called an “unhealthy rally,” with Big Tech’s debt-fueled buildouts, about $200B this year, now under sharper scrutiny. With layoffs rising and consumer sentiment plunging, This is how Meta made Wall Street start questioning whether AI capex will deliver real returns.

🗺️ If the US Has to Build Data Centers, Here’s Where They Should Go
AI’s infrastructure boom is reshaping the U.S. economy, and the environment. Meta plans to spend $600B on U.S. data centers by 2028, while OpenAI has committed $1.4T, driving a massive nationwide buildout. A new Nature Communications study warns these projects could strain energy and water resources, urging tech giants to look beyond hubs like Virginia and California toward Texas, Montana, Nebraska, and South Dakota, where environmental impacts would be lower.

💰️ AI's popularity is soaring among the highest-income earners
AI brands are booming, but mostly among the wealthy. A new Morning Consult report found Google’s Gemini and ChatGPT were the fastest-growing brands of 2025 among Americans earning over $100K a year. Lower-income households, by contrast, favored budget-friendly names like Fruit of the Loom and Discount Tire, highlighting a widening economic and tech-access gap, where AI tools are becoming luxury brands for the rich.

Invest & Strategies

🧠 Here's Where This Fund Manager Says You Should Look for Stock-Market Bargains
GMO’s new Dynamic Allocation ETF (GMOD), backed by Jeremy Grantham’s philosophy that markets always revert to the mean, aims to steer investors away from overpriced assets without hiding from risk. John Thorndike says it’s not 2008 again, investors just need to avoid the priciest corners, like overvalued U.S. growth stocks. The fund stays 60/40 stocks to bonds, leaning into Japan, emerging markets, and value plays, where valuations look far more attractive. In short: restraint, not retreat, is the move right now.

⚠️ When the Market Forgets How to Fall
Peter Bernstein once warned: when investors forget past bear markets, danger follows. Today’s “all stocks, all the time” crowd mirrors the late-’90s euphoria, fueled by cheap margin loans and short memories. Many younger investors, like the article’s “Mr. Street”, have never lived through a true market crash, making overconfidence easy and risk feel theoretical. As Bernstein’s “empty memory bank” rule suggests, when more than 30% of investors don’t remember pain, bubbles start to form. And in 2025, with speculation running wild, those memory banks look frighteningly empty.

😢 A Wistful Farewell to Warren Buffett’s Annual Letters
Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, is officially stepping down, passing both the leadership and the famed Berkshire shareholder letter to Greg Abel. For decades, Buffett’s letters have been more than financial reports, they’ve been masterclasses in investing discipline, intrinsic value, and emotional control. Much like Bob Dylan transforming folk music, Buffett didn’t invent value investing, he elevated Benjamin Graham’s ideas to global prominence, giving them life through real-world success. As he bows out at 95, it truly feels like the end of an era, one defined by wisdom, patience, and the quiet power of understanding what something’s really worth.

You can read his final letter here.

🤔 You Might Not Be As Good An Investor As You Think
Financial Samurai, learns a humbling truth: his $1.5M IRA success wasn’t from market mastery, but steady saving and compounding. After crunching the numbers, he found he’d barely matched the S&P 500, not beaten it. The takeaway? Even confident investors need reality checks, discipline, not brilliance, builds wealth.

Good Morning & Happy Monday.

From markets cheering the end of the U.S. shutdown to Trump’s new crypto-fueled stimulus buzz, AI shaking up jobs, and gold surging, here’s everything you need to know to start your week.

Grab you Flat White and let’s get into it! ☕️ 

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_{This is a paid advertisement for RAD Intel made pursuant to Regulation A+ offering and involves risk, including the possible loss of principal. The valuation is set by the Company and there is currently no public market for the Company's Common Stock. Nasdaq ticker “RADI” has been reserved by RAD Intel and any potential listing is subject to future regulatory approval and market conditions. Investor references reflect factual individual or institutional participation and do not imply endorsement or sponsorship by the referenced companies. Please read the offering circular and related risks at invest.radintel.ai.}

Market News

📈 Markets rejoice potential end to US government shutdown
Global markets kicked off the week with serious energy, rallying on hopes that the U.S. government shutdown might finally be ending. The Senate advanced a bill to fund operations until January 30, giving investors a reason to breathe. Futures surged, Nasdaq up 1.2%, S&P 500 up 0.7%, and Europe following suit. Even with the shutdown’s toll on workers and economic data, this move injected optimism back into markets.

🕺 Senate advances a new bill to end the shutdown
A 31-page bill aimed at ending the historic U.S. government shutdown sped through the Senate Sunday night with a 60-40 vote, signaling that the deadlock may finally be breaking. Eight Democrats crossed the aisle to push it past the filibuster hurdle. President Trump said, “We’re getting very close to the shutdown ending,” as the measure now heads to the House. The bill funds the government until Jan. 30 and protects certain federal workers from dismissal.

💵 Trump Stimulus Check Could Trigger New Crypto Bull Run
Crypto markets roared back to life Sunday after President Trump announced plans for $2,000 “tariff-funded” payments to Americans, a move he claimed would come from “trillions” in tariff revenue. Bitcoin shot past $103K, Ethereum climbed above $3,500, and Solana broke $160 as optimism spread. Analysts called the proposal a “modern stimulus check,” comparing it to the COVID-era payouts that fueled massive crypto rallies. While the plan still lacks Congressional approval, traders say even the possibility of fresh cash entering the system is rocket fuel for the next bull run.

⛏️ Gold Shines Again as Prices Soar 2% to Cross $4,080
Gold surged over 2% early Monday, blasting past $4,080/oz as traders doubled down on bets the Fed could cut rates in December. The CME FedWatch Tool now shows a 67% chance of a cut, up from 50% last week. Weak jobs data and sinking consumer sentiment reinforced gold’s safe-haven appeal, with investors fleeing uncertainty for stability. With global growth cooling and markets turning defensive, gold’s dual role as safety and speculation keeps it shining, now just steps away from its record $4,400 high.

🤖 AI Is Eating All the Earnings
The S&P 500’s earnings look strong, but dangerously narrow. Growth is still anchored to the AI boom, even as profits appear to “broaden” beyond Big Tech. EPS is tracking nearly 14% higher year-over-year, yet sectors like consumer staples and materials remain weak. Even banks and industrials owe much of their success to AI-related dealmaking and infrastructure. For now, investors are happy to ride the wave, but when an entire market leans on one story, the ending rarely comes gently.

This week in Tech

💸 OpenAI asked Trump administration to expand Chips Act tax credit to cover data centers
OpenAI is pushing Washington for support as it ramps up its massive AI data center expansion. In a letter to the White House, the company urged the government to extend the 35% Advanced Manufacturing Investment Credit beyond chip fabs to cover AI servers, grid components, and data centers. The goal? To cut capital costs and speed up construction. OpenAI also called for faster permitting and a reserve of critical materials. CEO Sam Altman clarified the firm isn’t seeking bailouts or guarantees, but still expects $20B in revenue by 2025 and a staggering $1.4T in capital commitments over the next eight years.

🛍️ TikTok Shop Is Now the Size of eBay
TikTok’s ecommerce arm just won’t quit. Even with Trump’s shifting tariffs, political pressure, and constant talk of a U.S. ban, the platform’s shopping business keeps climbing. Executives may come and go, but TikTok Shop’s growth remains explosive, proving that users are still buying, scrolling, and spending no matter the headlines.

💼 AI Is Waging War on White-Collar Jobs. It Won’t End Well
AI is hitting white-collar jobs hard, and the fallout could be explosive. From Amazon to GM, corporations are slashing corporate roles while blue-collar work in construction and engineering surges. A new NBER study warns AI could reverse centuries of progress, shrinking demand for educated labor by nearly 1% a year in key fields. As “digital humans” take over offices, educated workers risk alienation and unrest, echoing revolutions of the past. The message is stark: in the AI era, a degree may no longer be your safety net, it might be your warning sign.

Invest & Strategies

🧠 With Crypto, It Can Pay to Keep an Open Mind
Bitcoin and Ethereum may dominate crypto, but a new ETF is betting on the next wave of altcoin winners. The CoinShares Altcoins ETF (DIME), launched this month, focuses on top-tier Layer 1 projects like Solana, Cardano, Avalanche, and Sui, offering investors exposure beyond the “big two.” CoinShares says DIME adds “optionality” and diversification, letting investors benefit if DeFi or gaming tokens take off. Riskier? Sure. But as crypto evolves, altcoins remain the wild card that could rewrite the leaderboard.

😅 Private Equity Isn’t What You Think: Overpriced, Overleveraged, and Out of Luck
Private equity and private credit may be facing their reckoning. Once hailed as Wall Street’s secret sauce, these industries are now overleveraged, overvalued, and underperforming. Years of cheap money and sky-high fees have led to bloated valuations and shrinking returns, with many funds relying on accounting tricks to mask losses. Analysts warn of a slow-motion unwind, not a crash, but a painful decade of low returns, illiquidity, and investor regret. The verdict? Private markets aren’t “smart money” anymore, just expensive illusions waiting to be repriced.

🍂 Success in Bull Markets Sets You Up for the Fall
Bull markets breed overconfidence; bear markets breed doubt. History proves it, just ask Benjamin Graham, who turned $400K into $2.5M before losing nearly everything in the Great Depression. His early success led to hubris, a mistake many modern investors may be repeating. As author Brendan Moynihan warned, “the rise sets up the fall.” So enjoy the wins, but remember, markets always humble you eventually.

Good Morning & Happy Friday.

Futures are making an attempt at clawing back after a tech sell-off, earnings season is punishing the weak, and travel chaos looms as the shutdown drags on. In tech, Tesla gives Musk a trillion-dollar win, Apple flirts with Google’s Gemini, and OpenAI faces trillion-dollar growing pains.

Plus, Berkshire’s cash mountain swells, the Fed fuels a K-shaped economy, and we unpack why chasing sky-high dividends might cost you in the long run.

Grab you Flat White and let’s get into it! ☕️ 

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Market News

😅 Futures eye a recovery from tech-led sell-off
US stock futures barely clung to gains Friday, hinting at a small rebound after Thursday’s brutal tech sell-off. Investors are juggling weak job market signals and growing fears that AI stocks are seriously overvalued. The Nasdaq and S&P 500 are both on track for sharp weekly drops, 2.8% and 1.8%, respectively, while the Dow looks set to fall 1.4%. And with the October jobs report delayed again by the government shutdown, traders are relying on bleak new data, job cuts hit their highest October level in over 20 years, marking the roughest year for layoffs since 2009.

⚾️ Investors Are Punishing the Stocks of Companies that Miss Earnings Expectations
Earnings season’s been brutal. Companies missing expectations this quarter saw their shares drop nearly 5% on average, a far steeper hit than usual, according to FactSet. Even those that beat estimates got barely any reward, stocks rose just 0.1% on average. Names like Chipotle and Netflix got hammered after disappointing results, while EQT’s “beat” barely moved the needle. Analysts say traders are using the stick, not the carrot this time, seeing the glass half-empty, even as S&P 500 earnings beats hit record levels.

✈️ The Shutdown Has Thrown New Uncertainty Into Holiday Air Travel
Holiday travel just got messier. Starting Friday, about 40 U.S. airports will cut flight capacity by 10% as the government shutdown drags on, Transportation Secretary Sean Duffy confirmed. The move aims to ease pressure on underpaid, overworked air traffic controllers, but could spark major delays. Airlines already felt the hit Thursday, American Airlines dropped 2%, while Delta and United slipped about 1%. With no clear deal in sight between Republicans and Democrats, travelers may want to brace for chaos, or keep a backup plan ready for Thanksgiving flights.

👇️ ‘Grand Theft Auto VI’ Is Postponed Again, Take Two Stock Drops
Take-Two Interactive just hit pause again, the highly anticipated game’s release has been pushed back six months to November 2026, disappointing fans and investors alike. Shares tumbled 7% after hours, even though the company’s quarterly earnings crushed estimates with $1.96 billion in bookings and $1.46 a share in adjusted profit. CEO Strauss Zelnick defended the move, saying it’s “always painful when we move a date” but better than releasing an unfinished game, a mistake rivals have made at their peril.

😵 Duolingo stock plunges 25%, its worst session ever
Duolingo’s stock plunged 25%, its biggest one-day drop ever, after issuing weaker-than-expected guidance despite solid subscriber growth. The company said it’s prioritizing long-term user expansion over short-term profits. For the quarter, bookings came in below forecasts at up to $335.5 million, and EBITDA guidance also missed. CEO Luis von Ahn told CNBC the shift is intentional, calling it a bet on the platform’s “big opportunity ahead.”

This week in Tech

💰️ Tesla says shareholders approve Musk’s $1 trillion pay plan
Tesla shareholders just approved Elon Musk’s nearly $1 trillion pay package, with about 75% voting in favor, despite pushback from proxy advisors Glass Lewis and ISS. The deal grants Musk 12 tranches of stock tied to massive growth goals, including a $2 trillion market cap for the first payout. If Tesla ever reaches $8.5 trillion, Musk would secure the full package, boosting his stake from 13% to 25%, and cementing even more control over the company.

👀 Sam Altman says he doesn’t want the government to bail out OpenAI if it fails
OpenAI’s $1.4 trillion data center ambitions are raising eyebrows, as CEO Sam Altman admitted the company’s $20 billion annual revenue can’t cover those costs alone. CFO Sarah Friar briefly suggested the U.S. government should “backstop” OpenAI’s infrastructure loans, effectively guaranteeing them, before walking it back. The idea sparked debate since a backstop would mean taxpayers shoulder the risk if OpenAI defaults, even as the company races to stay on the cutting edge of AI chip tech.

🍎 What a Google-powered Apple Siri might deliver
Apple may finally give Siri a brain boost, but it might come from Google’s Gemini, not Apple’s own labs. Bloomberg reports the two tech giants are nearing a $1 billion-a-year deal for Apple to run a custom Gemini model on its servers. The move could supercharge Siri’s smarts, but raises privacy and data-sharing questions about Google’s access. Apple says its revamped Siri will arrive next year after multiple delays, and this partnership hints the company may be ditching the “build it all ourselves” strategy for something far more pragmatic.

🏫 Mark Zuckerberg Opened an Illegal School at His Palo Alto Compound. His Neighbors Revolted
In Palo Alto’s elite Crescent Park, Mark Zuckerberg’s expanding compound has turned heads — and stirred controversy. What began as a single home has grown into 11 combined properties, five of them sharing property lines. Neighbors first sounded alarms back in 2016, fearing his purchases were driving up home prices. Then came a new twist: reports of a school operating inside the compound, which violated zoning laws and sparked a years-long neighborhood battle that finally ended in summer 2025.

Invest & Strategies

🔎 A Closer Look at Berkshire Hathaway's Q3 2025 Earnings Report
Berkshire Hathaway’s Q3 2025 report dropped Saturday, revealing the company’s cash pile hit a staggering $354.3 billion, up nearly $15 billion in just three months. While some outlets cited $382 billion, that figure overlooks Treasury payables and cash tied to Railroad, Utilities & Energy operations. In true Warren Buffett fashion, the focus remains on precision and discipline, and this latest report shows Berkshire’s cash hoard is bigger, cleaner, and more deliberate than ever.

👓️ How the Fed Can Change the K-Shaped Economy
Fed Chair Jerome Powell acknowledged the reality of a K-shaped economy, where wealthier Americans keep spending while lower-income households pull back. But as Bloomberg’s Claudia Sahm points out, the Fed’s own rate hikes helped create this divide. Higher borrowing costs have hit low-income consumers hardest, flattening their inflation-adjusted spending since 2022. Meanwhile, credit card data from the Boston Fed shows that upper-income Americans are largely keeping overall spending afloat, a sign that monetary policy isn’t hitting everyone equally.

⚠️ Don’t Fall for This Common Dividend Mistake When Investing
Many investors fall into mental accounting traps, treating dividends and yields as separate from total return. The allure of high-yield securities, especially for retirees chasing income, can be powerful, but it often masks hidden risks. Traditional funds like SCHD offer balanced yield and growth, but newer covered-call ETFs such as JEPI (8.4%) and JEPQ (10.6%) promise eye-popping payouts. The catch? Those big yields come with a cap on upside potential, meaning investors trade long-term growth for short-term income gratification.

Good Morning & Happy Wednesday.

Today’s lineup is packed, from stocks sliding after Palantir’s surprise drop to Tesla’s $1 trillion pay showdown, and even Amazon’s legal fight with Perplexity’s AI bot. We’ll also break down why “Sell in May” still won’t die, lessons from Goldman’s global portfolio, and which hypergrowth stocks might be worth buying right now.

Grab you Flat White and let’s get into it! ☕️ 

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Market News

🧨 Stock Indexes End Sharply Lower
Stocks sank Tuesday, with the Nasdaq down 2% and Palantir plunging 8% despite posting strong earnings and raising its outlook. Tech heavyweights like AMD, Nvidia, Intel, and Tesla also dropped, dragging the S&P 500 and Dow lower. Cruise lines tumbled after Norwegian fell 15%, while Hertz soared 36% and Denny’s jumped 50% on a $620 million buyout. Bitcoin briefly dipped below $100K, while gold slid 1.6%, oil fell 1.7%, and Treasury yields eased to 4.09%.

📉 Don't panic yet, investors say, as high-flying AI stocks tumble
Global stocks slipped from record highs, with analysts calling the drop “healthy” profit-taking rather than a panic signal. Wall Street execs cautioned about a possible pullback as tech-led selling continued into a second day. Markets in Seoul and Tokyo fell about 5% from recent peaks, while Nasdaq futures dipped 0.2% after Tuesday’s 2% drop.

👇️ AMD Crushes Q3 — But Why’s the Stock Falling?
AMD beat Q3 expectations, posting $1.20 EPS on $9.25B in revenue, topping forecasts of $1.17 and $8.74B. It also issued a strong Q4 outlook, guiding revenue between $9.3B and $9.9B, above Wall Street’s $9.21B target. CEO Lisa Su called it a “record quarter” driven by demand for EPYC, Ryzen, and Instinct AI chips. Despite the upbeat report, shares fell up to 4% premarket Wednesday. So why did the stock fall?

😅 SoftBank shares plunge 10%, wiping $23 billion in market cap
SoftBank shares tumbled 10% Wednesday, shedding $23 billion in market cap as the broader AI sector faced heavy selling amid fears of overvaluation. It marked the group’s worst day since April, despite a strong AI portfolio including Arm Holdings, which also fell 4.7% overnight. Investors are growing cautious as the AI trade becomes increasingly crowded.

🏢 Trump’s Tariff Powers Face the Court
The Supreme Court is set to hear a pivotal tariff case Wednesday, challenging the authority former President Trump used to impose major tariffs. Experts see the outcome as a true toss-up, with some giving just 50–65% odds the Court will limit presidential power. The case, Learning Resources v. Trump, has drawn intense scrutiny due to Trump’s personal stake and a mounting White House pressure campaign.

This week in Tech

💰️ Elon Musk's $1 trillion pay fight
Tesla’s trillion-dollar showdown is set for Thursday, with Elon Musk’s massive pay package taking center stage at the annual meeting in Austin. Norway’s $1.9T wealth fund, a key shareholder, plans to vote against the $1T payout, citing concerns over size, dilution, and key person risk. While Musk’s leadership is praised, the vote is shaping up to be a major flashpoint for investors.

💼 Amazon sends legal threats to Perplexity over agentic browsing
Amazon has issued a cease-and-desist to Perplexity, demanding the startup remove its AI shopping assistant, Comet, from interacting with Amazon’s site. Perplexity fired back, calling the move “bullying” and arguing Comet acts on users’ behalf and shouldn’t need to self-identify. Amazon disagrees, pointing out that other third-party agents disclose themselves. The standoff highlights growing tension as Amazon protects its turf—and its Rufus AI bot—from rising AI intermediaries.

🪖 Fund manager sends message on latest Palantir earnings
Palantir posted blowout Q3 results, with CEO Alex Karp touting 121% U.S. commercial growth and calling the company’s AI transformation “undeniable.” Revenue guidance for Q4 hit a record, and full-year projections were raised again, now topping $4.4B. Zacks Investment’s Brian Mulberry praised the momentum, while Karp took a swipe at critics, saying they’re trapped in “deranged and self-destructive befuddlement.”

🕹️ Studio Ghibli, Bandai Namco, Square Enix demand OpenAI stop using their content to train AI
Japan’s top anti-piracy group, CODA, is demanding OpenAI stop using Japanese IP to train its models, specifically targeting Sora 2 for generating content resembling Studio Ghibli and Bandai Namco works. CODA argues this may violate copyright law, and the Japanese government has backed the call. Sora 2’s September launch triggered a wave of anime-style output, echoing past concerns, including GPT-4o’s Ghibli-inspired visuals and even Sam Altman’s profile pic.

Invest & Strategies

🤔 Should You Buy at All-Time Highs?
Buying at all-time highs might feel risky, but the data says otherwise, according to Nick Maggiulli. Historically, returns don’t suffer just because you're buying at a peak, in fact, emerging markets, gold, and Bitcoin often perform better in the short term after new highs. For U.S. stocks, the long-term impact is negligible, and market timing doesn’t work. So if you’re worried? “Sin a little,” rebalance, and Just Keep Buying.

🥈 2 Hypergrowth Tech Stocks to Buy in 2025
Palantir and Applied Digital are riding the hypergrowth wave, each posting revenue growth over 40% and showing no signs of slowing. Palantir’s Q2 revenue jumped 48%, marking its eighth straight quarter of acceleration. Meanwhile, Applied Digital is capitalizing on the AI power crunch, leveraging its roots in crypto mining to offer AI-ready data centers and GPU rentals, with major clients like CoreWeave locking in $11B+ in contracts.

📆 The 1950s Boom That Proved Not Every Bull Ends in a Crash
The 1950s bull market was one of the strongest in U.S. history, yet it rarely gets mentioned. Stocks soared nearly 20% annually, with massive gains in years like 1954 (+52.6%) and 1958 (+43.7%), all while investor sentiment lagged due to post-Depression scars. Unlike other melt-ups, this bull run ended quietly, with no devastating crash, just a transition into the more modest, but still positive, 1960s.

👀 5 Lessons for Investors from the Global Market Portfolio
Goldman Sachs’ “Investing in Everything, Everywhere, All at Once” report maps the evolving global market portfolio, showing how asset mix trends shift over time. Tech now dominates U.S. equities, while nontraditional assets like gold, crypto, and private markets are gaining ground. Though tactical shifts can boost returns in theory, most investors underperform by trying to time asset mix changes. The report ultimately reinforces that diversification matters, but timing is nearly impossible to get right.

💸 “Sell in May and Go Away” Refuses to Die
“Sell in May and go away” refuses to die, but as Larry Swedroe points out, the data doesn't back it up. While returns from November to April do outperform, the May-to-October period still beats cash on average. In 2025, for example, Vanguard’s S&P 500 ETF returned 27.3%, crushing T-bills. The myth lives on because it's catchy, not because it's profitable. The smarter move? Stay invested.

Good Morning & Happy

We’re kicking off November with a mix of AI-fueled rallies, earnings surprises, and big-picture investing ideas to keep you ahead of the curve. From Apple’s record quarter to Meta’s costly AI bets and BlackRock’s global equity outlook.

Grab you Flat White and let’s get into it! ☕️ 

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Market News

📈 Futures climb as November kicks off with earnings, AI, Fed in focus
US stock futures edged higher Monday, with the S&P 500 up 0.2%, Nasdaq 100 up 0.4%, and Dow up 0.1%, as Wall Street aims to extend October’s rally. Big Tech and AI stocks continue to drive momentum amid easing US–China tensions. However, a government shutdown is delaying key data, and the Supreme Court is set to review Trump’s tariff policies. Earnings from Palantir, Super Micro, and AMD headline the week ahead.

🍎 Apple Stock Climbs to New Highs as CEO Calls for Best Holiday Season Ever
Apple crushed expectations in its fiscal Q4, posting earnings of $1.85 per share on $102.47 billion in revenue, up 8% year-over-year. Services hit a record $28.75 billion, while iPhone 17 sales jumped 6% to $49.03 billion, marking a September-quarter record. CEO Tim Cook expects the “best-ever” holiday season, with revenue growth projected between 10%–12%. Apple shares surged over 3% after hours, pushing its market value past $4 trillion, second only to Nvidia.

💰️ Musk's political foray cost Tesla huge sales
A new study from Yale University finds that Tesla likely lost between 1 million and 1.26 million vehicle sales in the U.S. from October 2022 to April 2025 due to the “polarizing and partisan” public actions of its CEO Elon Musk. The paper estimates that by Q1 2025 Tesla’s monthly U.S. sales could have been about 150 % higher absent that effect. Industry analysts remain skeptical of the magnitude of the impact.

🤖 AI-Led Investments Are Driving US Economic Growth
AI is powering the U.S. economy even as official data is delayed by the government shutdown. Economists estimate AI-related investment drove over half of America’s 1.6% growth in early 2025, fueled by massive spending on data centers, chips, and software. Tech giants like Microsoft, Google, and Meta poured billions into infrastructure, boosting construction and business investment. The boom is lifting markets and consumer wealth, though experts warn power shortages and overinvestment could slow momentum ahead.

🌶️ The Chipotle indicator: Is the economy teetering on a recession
Chipotle’s latest earnings call just dropped an unexpected economic signal. CEO Scott Boatwright says weaker sales and a soft Q4 start point to financial strain among younger consumers, especially those aged 25–35. With AI disrupting entry-level jobs and student debt weighing heavy, lower- and middle-income diners, who make up about 40% of Chipotle’s sales, are eating out less. Some analysts say that trend hints the U.S. may already be in a mild recession.

This week in Tech

🤖 1X Now Taking Pre-Orders for NEO, a Humanoid Servant Robot
California’s 1X Technologies just opened orders for NEO, a 5’6” humanoid home robot that can do laundry, fetch groceries, water plants, and even chat like ChatGPT. It’s fully autonomous, but if it encounters a new task, a remote 1X operator can control it and “teach” the action, meaning a stranger could technically see inside your home. NEO can also recognize objects, translate languages, and stream its view to your phone, blurring the line between household helper and sci-fi horror plot.

📺️ Netflix Stock Is Set for a 10-for-1 Split. What You Need To Know
Netflix (NFLX) announced a 10-for-1 stock split, set to take effect after the closing bell on Nov. 14, with trading at the new price starting Nov. 17. The move will lower Netflix’s share price, currently around $1,120, by roughly 90%, making it more affordable for employees and retail investors. Each shareholder will receive nine additional shares per share owned, without changing their overall stake. Netflix stock is up 26% year-to-date, outpacing the S&P 500.

🥸 Meta has an AI product problem
Meta’s massive AI spending spree is rattling investors. The company’s operating costs jumped $7 billion and capital expenses soared nearly $20 billion last quarter as it poured money into AI infrastructure and talent. CEO Mark Zuckerberg defended the push, saying Meta needs to “accelerate” to stay ahead in AI research and frontier models.

🚀 Alphabet is increasingly launching “moonshot” projects as independent companies
Alphabet’s X lab is changing course, spinning off more of its moonshot projects into independent companies instead of keeping them under Alphabet’s umbrella. The shift is backed by Series X Capital, a $500 million fund led by former Facebook CFO Gideon Yu, with Alphabet as only a minority investor. X chief Astro Teller says the goal is to let promising projects “move faster” outside Alphabet’s structure, while still staying closely connected. The lab’s “kill-fast” culture remains central, only the wildest, most world-changing ideas survive.

Invest & Strategies

🫧 Trend Following in a Bubble
Momentum and stop-loss strategies can help investors ride the AI boom, without timing the top. Using a 10-month moving average, as outlined in Meb Faber’s tactical asset allocation model, investors stay in stocks when prices trend above that average and move to cash when they fall below. This trend-following approach reduces volatility and limits drawdowns, though it can create whipsaws in choppy markets. It’s best viewed as insurance, you give up some gains for protection during crashes, and it works especially well in tax-deferred accounts where frequent trades don’t trigger capital gains.

😅 The Price of Risk
Forensic accountant Anthony Scilipoti joins The Knowledge Project to unpack the AI bubble, risk, investing red flags, and the illusion of objectivity in financial statements. The conversation dives into why “price creates narrative” and how risk peaks when it feels safest. Listeners, from billion-dollar managers to casual investors, called it one of the show’s best episodes. Top takeaway: in markets and in life, positioning beats predicting.

👀 3 Market Predictions For November
Stocks kept climbing through October even as the government shutdown dragged into a fifth week and AI bubble warnings grew louder. With the Fed easing rates amid slowing job growth, investors are looking ahead to November with cautious optimism. Here are Seeking Alpha’s top three market predictions for the month ahead.

📆 BlackRock Equity Market Outlook Q4
As 2025 enters its final quarter, the equity outlook remains powered by AI. BlackRock’s alpha seekers see momentum evolving with the AI trade, while urging “rational exuberance” amid lofty U.S. valuations. Opportunities are broadening, from clean energy and Spain’s data-center boom to AI-driven growth across Asia. The message: AI’s influence is expanding globally, rewarding investors who stay selective and adaptive.

Good Morning & Happy Halloween 🎃 

Today’s edition is packed with market rebounds, global deals, and lessons in patience (both financial and psychological). From Apple and Amazon reigniting Wall Street to Google and Reliance teaming up on AI in India.

Grab you Flat White and let’s get into it! ☕️ 

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Market News

📈 S&P 500, Nasdaq futures rebound after Apple, Amazon earnings rekindle optimism
US stock futures climbed Friday after upbeat earnings from Apple and Amazon lifted sentiment at the end of a crucial week for Big Tech. S&P 500 futures rose 0.7%, while Nasdaq 100 jumped 1.3%, led by Amazon’s 13% surge on blockbuster Q3 results and a 20% AWS revenue spike. Apple shares gained up to 3% on strong earnings and holiday guidance. Netflix also boosted optimism with news of a 10-for-1 stock split, offsetting Thursday’s sharp tech selloff driven by Meta, Microsoft, and Nvidia declines.

⏸️ U.S. and China Reach Agreement, But Experts Say This Is Just A Pause
The U.S. and China struck a preliminary trade deal Thursday, easing tensions with a one-year truce that cuts U.S. tariffs in exchange for access to China’s rare earth minerals. Beijing agreed to resume soybean purchases and curb fentanyl production, while Washington reduced tariffs to 47% and allowed limited access to U.S. AI chips. The deal pauses a damaging trade war but leaves major disputes unresolved, including issues over TikTok, and transshipment practices.

📉 Gold slips as dollar firms on Fed rate caution
Gold prices slipped 0.3% to $4,011.60 per ounce on Friday as a stronger U.S. dollar weighed on demand amid uncertainty over further Fed rate cuts. Despite the dip, bullion remains up 4% for the month, marking its third straight monthly gain. The Fed’s cautious tone after a 25-basis-point rate cut has lifted the dollar, making gold pricier for holders of other currencies.

🩸 Moderna stock soars after report of potential buyout talks
Moderna (MRNA) shares soared up to 12% Thursday after reports the biotech is in talks with a major pharmaceutical company about a potential partnership or acquisition. The discussions, still in early stages, come as Moderna seeks to diversify beyond its fading COVID-19 vaccine business, which has dragged shares down over 40% in the past year.

🫂 Reddit reports Q3 revenue, daily active users ahead of analyst estimates
Reddit (RDDT) reported Q3 revenue of $585 million, topping Wall Street’s $549 million forecast and marking a 68% year-over-year surge. Daily active users climbed 19% to 116 million, slightly above expectations, though growth continued to slow for a fifth straight quarter. Shares rose 12% premarket Friday after a volatile after-hours reaction to the results.

This week in Tech

🧱 JPMorgan Tokenizes Private-Equity Fund on Its Own Blockchain
JPMorgan has completed a tokenization pilot of a private equity fund on its proprietary blockchain network, according to The Wall Street Journal. The move marks a key step toward on-chain settlement and liquidity for private market assets. The bank plans to launch its “Alternative Investment Fund Tokenization Platform” in 2026, enabling institutional clients to issue and trade private equity, credit, and other non-public assets on-chain.

🔋 Chinese EV giant BYD says Q3 profit down 33%
BYD, China’s largest electric vehicle maker, reported a 33% drop in Q3 profit to 7.8 billion yuan ($1.1 billion) as weak domestic demand and intense price competition pressured margins. Revenue slipped 3% to 195 billion yuan, marking a second straight quarterly decline. Facing a cutthroat home market, BYD is increasingly looking overseas for growth amid rising industry scrutiny and ongoing price wars.

🇨🇳 How China’s AI Efficiency Could Gut the U.S. Economy (podcast)
This week on Prof G Markets, Scott Galloway and Ed Elson explore China’s AI edge and whether it’s enough to challenge U.S. tech giants. They also discuss the rise of private security and potential investment opportunities in the sector. Plus, they unpack rumors that Warner Bros. Discovery could be up for sale, and question if multiple bidders are truly in play.

🇮🇳 The AI race for India heats up
Google has partnered with Mukesh Ambani’s Reliance Industries to bundle its AI Pro subscription with Jio 5G plans at no extra cost, expanding its AI reach in India’s fast-growing market. The offer gives eligible Jio users 18 months of free access to Google’s Gemini 2.5 Pro, AI tools like Nano Banana and Veo 3.1, and 2 TB of cloud storage, a package worth about ₹35,100 ($396). The alliance also deepens Google’s ties with Reliance Cloud, aiming to broaden AI access and local innovation across India.

Invest & Strategies

👀 Why Smart Investors Should Sit Out the AI Arms Race
In his latest Intellectual Investor essay, Vitaliy Katsenelson warns that the current AI boom mirrors the dot-com bubble, fueled by hype, overinvestment, and unsustainable expectations. He argues that while AI’s long-term impact is real, short-term profits are uncertain, with firms like OpenAI, Nvidia, and Oracle engaged in a costly “AI arms race.” His advice to investors: stay humble, stay patient, and don’t feel compelled to play the hardest game in the market.

🩹 How to Endure Suffering to Build Greater Wealth and Resilience
Sam argues that building wealth often comes from purposeful suffering, discipline, delayed gratification, and endurance. He illustrates it by forgoing First Class to invest the ~$1,100 savings in his daughter’s account, turning discomfort into family-focused capital. The piece urges channeling sacrifice toward loved ones or causes, and even suggests fasting as a simple practice to build gratitude, resilience, and thrift.

⚖️ The 60/40 plus portfolio still works
In his latest post on Disciplined Systematic Global Macro Views, the author defends the classic 60/40 stock-bond portfolio, arguing it still offers a balanced foundation despite recent criticism. While bonds have underperformed, the mix provides stability and rebound potential after market shocks. Adding alternative assets can enhance returns without increasing volatility, making the 60/40 model a smart starting point for modern portfolio construction.

⏱️ Trying to Time the Market is Like Playing ‘The Traitors’
After finally watching “The Traitors,” the author draws striking parallels between the show’s misguided reasoning and investor behavior. Contestants confidently make decisions with no real evidence, overestimate their ability to read others, and repeat failed strategies,just as investors often do when predicting market moves. Both settings reveal how overconfidence, storytelling, and noise drive human error far more than logic or skill.

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Start investing right from your phone

Jumping into the stock market might seem intimidating with all its ups and downs, but it’s actually easier than you think. Today’s online brokerages make it simple to buy and trade stocks, ETFs, and options right from your phone or laptop. Many even connect you with experts who can guide you along the way, so you don’t have to figure it all out alone. Get started by opening an account from Money’s list of the Best Online Stock Brokers and start investing with confidence today.

Start investing

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Pelosi Made 178% While Your 401(k) Crashed

Nancy Pelosi: Up 178% on TEM options
Marjorie Taylor Greene: Up 134% on PLTR
Cleo Fields: Up 138% on IREN

Meanwhile, retail investors got crushed on CNBC's "expert" picks.

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Congress filed 7,810 new stock buys this year as of July.

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_{Past performance does not guarantee future results. Investing involves risk including possible loss of principal.}

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