Mbappé To Madrid, Barbie vs. Oppenheimer, and The Incoming Netflix Price Increases
Listen in podcast app and follow below for the podcast topic arc.
Q3 Earnings Season!
Netflix and Disney+ is the new cable bundle
Mbappé to Madrid or Saudi Arabia
Recommendations and must listens
Datatrek posted a great recap of the fed meeting yesterday:
Markets: Chair Powell accomplished what he needed to do at today’s post-FOMC meeting press conference, telling markets that further rate hikes are still on the table. He also poured cold water on the idea that rate cuts will start in the first half of next year. On a happier note, he believes the US banking system is getting back to a solid footing after the March mini crisis. Fun fact: the S&P 500 is now up 3.5 percent since the first rate hike of the cycle in March 2022. That reflects a still-resilient US economy, but the Fed’s job is still not done with respect to inflation.
1: Fed Funds Futures took Chair Powell’s press conference comments as slightly dovish regarding rest of year monetary policy decisions. Odds of another hike are sub-50 percent.
2: Powell made the point that core inflation (now 4.8 pct) leads headline (now 3.0 pct). This is true, especially during periods of declining energy prices. Core inflation is the more important number from now on.
3: The “Great Rotation” continues. Mutual fund/ETF investors continue to sell stocks and buy bonds.
Disruption: With all the recent focus on gen AI, respected technologist Ben Evans is out with a piece claiming that waves of automation will grow employment, not hurt it. That’s likely true over the long run. However, the greater issue for economic and corporate earnings growth is how gen AI will impact productivity. Long-run US labor force productivity growth has fallen to levels last seen pre-Internet. Whether gen AI helps boost output/worker in coming years will come down to how aggressively businesses adopt it rather than Big Tech simply using it to enhance their entertainment offerings.
Twitter links from the pod:
🎙Podcast & YouTube Recommendations🎙
Josh Kushner from Thrive Capital
favorite quote from the pod:
“Read the affordable care act in a weekend and started a business to help solve a problem”
This week in startups with Utah Jazz Owner Ryan Smith
Bob Elliott on the Fed and his new YouTube Channel:
🔮Best Links of The Week🔮
Steve Clapham: A blueprint for 10-baggers (8 mins)
Hoisington’s 2Q2023 letter discussing inflation & money supply (6 pages)
Warden Capital’s 2Q2023 commentary on US housing (17 mins)
Silver Beech on Asbury Automotive, Playa Hotels, Alphabet (9 pages)
1Main Capital letter on Basic-fit, Dentalcorp, IWG, KKR, Limbach (9 pages)
Moon Capital’s 2Q2023 letter on First Horizon, Canadian Natural (14 mins)
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