Monday, 26 September 2022
Tech Bros unite on social media in a futile and stupid gesture to get ill-advised investments back amid Celsius bankruptcy. The universe seems largely unimpressed.
Amid spirally global chaos, Low Volatility ETFs are becoming popular again as investors decide they’d had about all the damned validity they can handle.
Giorgia Meloni, a former neo-fascist, to be Italy’s first female Prime Minister as her right-wing Brothers of Italy party took both houses of parliament. This matters because while Meloni is a Eurosceptic who has praised Vladimir Putin in the past, she has vowed to stay the course with NATO and EU sanctions against Russia, further eroding Moscow’s leverage to wreck the universe.
Despite better than expected earnings, Costco shares fell 2.4%, which likely has more to do with spooked investors than market conditions. A case can be made that the markets signal something deep and painful, but possibly short lived. More sleep on the couch than filing for divorce, as it were. Don’t go buying the dip just yet.
California has banned gas and space heaters in new builds after 2030 despite offering no discernable benefit for the environment. Along with a recent move to sell electric-only cars, and another ban on gasoline and diesel long-haul trucking, these voter-driven initiative will crater the state’s economy. The Machiavellian move would be to invest in the targeted firms as demand for cheaper and more reliable legacy technology spikes then let the aftershocks of the Russo-Ukrainian War and a global recession clarify exactly how woke these California voters actually are.
Like Germany, Volkswagen is down rather than out. And there is your opening. With an announced expansion of US operations – currently cheaper than operating in Germany’s energy crisis – and the Porsche IPO, the company could be set for a victory lap for investors.
We know that politicos are operating on insider information when they make those fabulous stock picks. The investment firm Subversive Capital has announced filing for two new ETFs that track trades by politicians: “NANC” in honor of our esteemed speaker of the house (or her very lucky husband) will track the democrats, while “KRUZ” named for Ted Cruz will shadow GOP investments. It may not work as well as promised.
A few eye-opening shots in your morning coffee. Delivered daily.