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Good Morning!

Today’s edition is packed, from South Korea banning short selling (WHAT? 🤯), to the role of Boomers in ruining the housing market. We’ll keep things concise.

Grab your French vanilla and let's get into it! ☕️👇️
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Markets

South Korea to Ban Short-Selling of Stocks Until June 2024 (3 minute read)
South Korea has announced a temporary ban on stock short-selling until June 2024. The ban specifically targets trading with borrowed shares, a key element of short selling, and applies to companies listed in the Kospi 200 Index and Kosdaq 150 Index, taking effect from Monday through the end of June. The decision comes in response to recent market turbulence and concerns surrounding illegal naked short-selling by global investment banks, as well as other illicit activities, which have been undermining fair price formation and eroding market confidence. According to Freitas, the ban on short-selling is likely to hinder South Korea's prospects of transitioning from an Emerging Market to a Developed Market, as it may lead to the emergence of speculative bubbles in areas of the market preferred by retail investors, given that short selling will no longer serve as a means to curb excessively high valuations.

Did the Baby Boomers Ruin the Housing Market? (4 minute read)
The COVID-19 pandemic witnessed a nationwide surge in housing prices by 50%, followed by a rapid increase in mortgage rates from sub-3% to over 7.5% due to the Federal Reserve's aggressive interest rate hikes. The current housing market faces severe supply constraints primarily caused by diminished affordability, with homeowners reluctant to relinquish their 3% mortgages. Housing affordability has reached one of its lowest points in decades, and solutions appear elusive. While economists at Barclays attribute blame to the baby boomer generation in a recent note titled "Blame the Boomers,". Whilst there is some logic in this argument, there are far larger culprits to blame.

Turkey Is Sustaining Major Inflation. Something Has To Give (3 minute read)
According to Bloomberg, Turkey experienced a significant price inflation of over 60% in September, as reported by the Turkish government's statistical office. Surprisingly, despite this high inflation rate, the situation on the ground in Turkey doesn't exhibit hyperinflationary signs. Shelves remain stocked, and the coastal city of Bodrum is experiencing economic growth. Despite the challenges facing the Turkish lira, there continues to be a steady flow of investments in real estate, watercraft, and businesses on the peninsula.

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Investing

Tesla to build 25,000-euro car at German plant (3 minute read)
Tesla is reportedly set to produce a car priced at 25,000 euros (approximately $26,838) at its factory near Berlin, as revealed by an inside source on Monday. This marks a significant milestone for the electric vehicle manufacturer as it strives to achieve broader adoption of its automobiles. Elon Musk recently visited the Gruenheide plant on Friday and expressed his gratitude to the workforce for their dedication.

Berkshire Hathaway posts a 40% jump in operating earnings, cash pile swells to a record $157 billion (3 minute read)
Berkshire Hathaway reported a substantial increase in third-quarter operating earnings, reaching $10.761 billion, a 40.6% rise from the $7.651 billion earned in the same period the previous year. Warren Buffett's Omaha-based conglomerate also held a record amount of cash at the end of September, totaling $157.2 billion, surpassing the previous high of $149.2 billion in the third quarter of 2021. The company has been capitalizing on rising bond yields by investing in short-term Treasury bills with yields of at least 5%, amassing holdings of $126.4 billion by the end of the third quarter, compared to about $93 billion at the close of the previous year.

⚡️ Quick Links

Ryanair declares first ever dividend as profits jump (2 minute read)

How China’s EV Boom Caught Western Car Companies Asleep at the Wheel (10 minute read)

Crypto ETFs: What’s Next? (3 minute read)

Oil rises by 1% as Saudi Arabia, Russia stick to cuts (2 minute read)

Money

The Most Attractive Cities To Start a New Job (2 minute read)
In an increasingly globalized and interconnected world, relocating for work has become more accessible, even for specialized white-collar professionals, despite potential language barriers. According to the latest iteration of the Decoding Global Talent survey conducted by Boston Consulting Group, London continues to rank as the top destination for individuals open to changing their place of residence. Furthermore, the data reveals that cities in the Middle East and Asia have gained popularity among workers between 2018 and 2020, reflecting shifting preferences in the global job market.

Managing finances in a couple when one of you has way more wealth (5 minute read)
Navigating a relationship in which one partner possesses significantly more wealth than the other, or vice versa, can present a complex challenge. When one accumulates wealth before entering a committed relationship, it's natural to have a sense of ownership over that wealth. However, as the relationship deepens—whether through marriage or not—a significant portion of life becomes a shared endeavor. This leads to a struggle in defining the status of one's wealth: is it "ours," should it be "ours," or does it remain "yours"? This dilemma presents not only a logistical challenge but also a complex emotional one. Given the legal, logistical, and emotional dimensions involved.

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