Episode 69! Nice. In this week's episode of Reformed Millennials, we start out as usual - talking about the stock market and the record-setting November print. Followed by a dive into influencer marketing, the companies that empower those influencers and Dave Chappelle’s most recent special, and the story he tells. If you aren’t excited about stocks, you just aren’t paying attention. This is one of our favorite episodes.

Listen on Apple, Spotify, or Google Podcasts.

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👉 For specific investment questions or advice contact Joel @ Gold Investment Management.

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📈📊Market UPDATE💵📉

November is over!

QUICK HITS!

• Every major index finished the day lower, but the Dow Jones had its best month since January 1987.

• Moderna marched higher. $MRNA is up over 55% in the last 3 days. - They asked the FDA for Emergency Use Authorization for its COVID-19 vaccine. The pharmaceutical company also released its Phase 3 efficacy analysis, which shows 94.1% general efficacy against the virus. 🙌 Moderna could be on track to begin distribution by the end of December.

• November was the 5th best month for the S&P 500 since January 1987. 🇺🇸

• Small-caps soared 18.29%. It was the best month ever for the Russell 2000

• Bitcoin popped 40% this month. We’re still waiting to see if $BTC.X will break 20K.

• The global stock ETF had its second best month ever. $ACWI rallied 11.76%. 🌎

• JP Morgan, the largest bank in the United States, jumped 20% in November and had its best month since the global financial crisis.

• Zoom Video Communications reported Q3 earnings after the close. The Company has roughly 433,700 customers with more than 10 employees. - Stock is down ~15% over the last 3 trading days but is up roughly ~500% in 2020.

🐣AFFIRM - s-1🐥

Payments company Affirm filed its IPO prospectus with the Securities and Exchange Commission on Wednesday, and plans to list on the Nasdaq under the symbol “AFRM.”

The San Francisco-based company, founded and led by PayPal co-founder Max Levchin, offers online installment loans.

It announced a partnership with Shopify earlier this year, allowing merchants to offer installment loans on products they sell, and works with 6,500 merchants including Peloton, Expedia and Walmart.

Affirm brought in roughly $510 million in revenue for the fiscal year ended on June 30 -- a 93% jump from last year, according to the filing. In the three months ending Sept. 30, revenue grew 98% year over year, while net losses fell by roughly half to $15.3 million.

From Joel’s Email:

🚀Dave Chappelle Is the MFing Boss🌍

Chappelle’s linked 18-minute special is full of insights about how the Internet has transformed the entertainment industry specifically and business more broadly.

Today's success stories don't look like yesterday's. Rent-seeking business models are dying one at a time - and over the last 10 years, we've watched the destruction of an industry once owned and operated by network executives.

Today our stars own their own content and they've been empowered by the world's fastest growing companies.

• Affirm

• Roblox

• Youtube

• Shopify

• Facebook/Instagram

• Snap

• Netflix

Networks and anyone else dependent on physical distribution are on the retreat. Contracts and copyright may secure their place for longer than seems earned, but there is a reason this fight is about content made twenty years ago, while Chappelle is very content with the status of content made today. The Internet favors creators and Aggregators, while everyone in the middle of the smiling curve — where power used to be centered — is increasingly of little value.

🌊 Hottest Links We Read Last Week 🌊

• 💰 Rich As I Say, Not As I Do - It is a rich irony (pun intended) that the people telling you how to build wealth did not, in fact, build their wealth in that same way. This doesn’t imply that their financial advice isn’t useful, only that we don’t know if it’s useful.

• 🔋 VW Brand Dissolves Racing Operation, Shifts Staff to Work on EVs

• Blackberry Collabs with AWS - BlackBerry (yes, they’re still around) announced a multi-year global partnership with Amazon Web Services today. The agreement will develop BlackBerry’s Intelligent Vehicle Data Platform, IVY.

  BlackBerry IVY is a cloud-connected software platform that allows automakers to securely read and interpret vehicle sensor data.

• House Building falling behind demand! - America needs more supply to make up for their significant demographic shift and millennials jumping into new homes amid record-low interest rates.

DISCLAIMER

Gold Investment Management Ltd. (“GIM”) is registered as a portfolio manager in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba, Ontario and Quebec and as an investment adviser with the U.S. Securities and Exchange Commission. This material is provided to you for informational purposes only. For greater certainty, the information contained herein should not be construed as a recommendation of any specific model portfolios or investment actions. Any third-party information contained herein has been compiled from sources believed to be reliable, however, GIM makes no representation or warranty, express or implied, as to its accuracy or completeness. Any market prices and estimates in this report are for informational purposes only. The opinions contained herein are effective as at the date of the report and GIM does not assume any responsibility for advising the reader of any subsequent change of opinion. Any indications of past performance contained herein is not indicative of future results and any information with regard to the performance of GIM’s investment portfolios is presented gross of fees which will vary from mandate to mandate. For additional information please visit our website: https://gold-im.com/legal/.