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Save time and money by upgrading your home. Today’s edition is brought to you by Ryse - The future of smart homes. Check them out today.
Good Morning!
First up, the stock market – it had a little dip because apparently, someone mentioned the 'I' word (inflation), and it’s got everyone running around like it's a horror movie. But don't fret; we've got the lowdown on this drama.
Next, we've got a tale of a not-so-comfy ride: Birkenstock thought they'd be the life of the IPO party, but it turns out their sandals didn't quite fit the market's fancy – they plunged 13% below their grand entrance price.
Now, if you're hunting for a reliable financial bandwagon, look no further than Warren Buffett's S&P 500 love story. We'll spill the beans on why it's a safe bet for growing those greenbacks.
Grab your iced latte with oat milk and two pumps of orange blossom syrup over crushed ice and let's get into it! ☕️👇️
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Markets
Stock Market lower as inflation data reignites interest rate fears (5 minute read)
Wall Street had a bit of a rollercoaster ride on Thursday – and not the fun kind! The Dow Jones Industrial Average waved goodbye to or 0.51%, while the S&P 500 did its own dive of 0.62%. And our techie friends over at the Nasdaq Composite? Well, they lost 0.63% too.
What caused this chaos,? Well, some fresh inflation data made everyone a bit jittery, and the 10-year Treasury yield jumped up by 11 basis points to 4.70%. Meanwhile, the 2-year Treasury yield decided to join the party and rose more than 6 basis points to 5.06%.
The Next Smart Home Staple
Where were you when Amazon acquired Ring for $1B? Or when Google bought Nest for a cool $3.2B?
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Their automated window shade tech is now launching in Best Buy stores, and is poised to dominate the fast-growing Smart Shades market. They’ve also just launched a new investment round and their share price has already grown 25% from their last round!
The Smart Shades race is on, and RYSE is in pole position due to their:
Unmatched Features: RYSE has the only retrofit design to motorize existing window shades, and can be seamlessly controlled by voice, smartphone, or schedule.
Smart Price: Priced at $169 vs. competitors’ pricing of up to $1,000 per window, RYSE is uniquely positioned to bring luxury window shades to every home and business.
From our partners
Investing
1 Time-Tested Warren Buffett Index Fund Could Turn $300 Per Month Into $618,900 (5 minute read)
Warren Buffett, the grandmaster of investing, has been singing the same tune for years: if you want a surefire way to grow your money, hitch a ride on the S&P 500 bandwagon. This index has been strutting its stuff, delivering a cool 10% annual return over the long haul. And guess what? The Vanguard S&P 500 ETF? It's like your golden ticket to a magical world of influential global companies. So, if you've been searching for the investment equivalent of a unicorn, look no further – Warren's got you covered!
Is The Stock Market Rigged? (7 minute read)
Many individual investors suspect that the stock market might be rigged. The perception of wealth concentration at the top often fuels this belief. In 2020, the wealthiest 10% of households owned 89% of all stocks and mutual funds, according to Federal Reserve data. This concentration of ownership raises suspicions about potential market manipulation to benefit the wealthy. Is this the truth?
BIRK: Birkenstock Flops in Weak Market Debut as Shares Close 13% Below IPO Price (1 minute read)
Well, it looks like the German sandal maker got a bit carried away with its own hype – they slapped a price tag on themselves at a whopping $8.6 billion, but guess what? Investors just didn't want to play ball. It was like a movie where they released Birkenstock's new shares with a grand flourish, only to realize the audience wasn't clapping. BIRK shares ended their first day in the New York trading scene at $40.20, which is a 13% discount from the lofty $46 a share they initially asked for.
Money
Here’s What It Really Costs To Own a Car in the US — And 7 Ways To Make It Cheaper (5 minute read)
According to Kelley Blue Book, the average price tag for a brand-spanking-new car in March was a whopping $48,008, marking a 3.8% price hike in the past year. But wait, there's more! It's not just the initial sticker shock; it's the whole shebang – maintenance, insurance, gas, and all those other car-related goodies. According to AAA, owning and operating a new car in the land of the free now sets you back an average of $12,182.
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Best of Twitter
JUST IN : ARGENTINA’S CENTRAL BANK HAS INCREASED ITS INTEREST RATES TO 133%
— GURGAVIN (@gurgavin)
Oct 12, 2023
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Poll Results
🤑 Are you currently invested in gold or gold-related assets?
🟨🟨⬜️⬜️⬜️⬜️ Yes, I've got some gold in my investment portfolio!
🟩🟩🟩🟩🟩🟩 No, I'm not into the golden game yet.
🟨⬜️⬜️⬜️⬜️⬜️ I used to, but I've moved on to other investments.
“I’m super bullish on gold right now - it’s my favorite safe-haven asset”
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