Jun 23 • 47M

Only 7 Stocks Matter To Markets, The US Open Flop and The Worlds Bright Future

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Reformed Millennials
The Reformed Millennials Podcast covers a wide ranging topic arc focusing on Sports and Investing. RM Pod is dedicated to identifying the latest trends in technology, sport and investing. We discuss the ways Millennials can leverage these trends to better invest their time, fandom and money.
Episode details
Listen in podcast app and follow below for the podcast topic arc.
  1. The state of Movie Theatre / Box Office releases

  2. US Open Highlights

  3. Market Update

  4. Gavin Baker and the bright future of Ai

  5. Canadian Real Estate Market

  6. Recommendations and Predictions

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📈📊Market Update💵📉

Few predicted that this would be a great year for technology stocks, but it has been. The Nasdaq has ripped.


Nobody knows why on timing, which is why it is so important to be ‘IN’ the market even when its hard. I really liked Fred Wilson’s riff on technology:

The combination of computer science advances in machine learning, decentralized systems (blockchains), and new forms of interacting with compute (chat interfaces, heads up displays, voice, etc) presents the most potent cocktail of innovation I have ever seen. We are also seeing amazing scientific advances in areas like renewable/clean energy, health and wellness (biotech), robotics, and many other areas.

These are bright times. As bright as they come.

This is why I read newsletters and blogs of people that think clearly and share consistently and tend to avoid the very loud click bait financial news.

I have been using Midjourney (AI) every day and sharing my ‘prompts’ on the blog. I liked this post from Auren Hoffman (who has a great newsletter) on his journey with Midjourney.

Auren linked to a few other posts I recommend you take a look at…

In Praise of Memorization. Mastering the oldest “productivity hack” in the book, and why it works.

The age of average. In the 1990s, two Russian artists paid polling firms to create surveys on the “ideal” painting in a dozen countries around the world. The paintings all turned out more or less the same. Three decades later, that phenomenon has crept into all corners of style and culture around the world.

I really liked this post from Morgan Housel… Compounding Optimism.

Lastly - Datatrek does a phenomenal job breaking down how the Global Index is so heavily weighted to US equities: see below

Global equity portfolio allocations by country. Say you are a Swiss or French institutional investor, and you allocate just 5 – 10 percent of your stock portfolio to your home country equity market. You might think you are being exceptionally prudent since you are not letting home country bias sway your decision-making.

A look at MSCI’s All-Country Index says otherwise. Here are the top 10 weightings by country:

  • US: 61.3 percent

  • Japan: 5.6 pct

  • United Kingdom: 3.6 pct

  • China: 3.2 pct

  • France: 3.0 pct

  • Canada: 2.9 pct

  • Switzerland: 2.5 pct

  • Germany: 2.1 pct

  • Australia: 1.8 pct

  • Taiwan: 1.7 pct

And here are the top 5 names and their weightings:

  • Apple: 4.6 percent

  • Microsoft: 3.7 pct

  • Alphabet: 2.2 pct

  • Amazon: 1.7 pct

  • Nvidia: 1.5 pct

Takeaway: US equities dominate a market cap-weighted indexed approach to global investing, which means owning more Apple than China or more Microsoft than Germany just to track the index. Intuitional investors often tweak portfolio weightings to express an investment view, but straying too far from the benchmark creates the risk of material underperformance. US Big Tech is not just a must-own group of names for domestic investors. They are also more important than entire countries for global asset owners. Big Tech’s recent run is not just strong enough to pull capital out of other US stocks. It can also force capital to move out of other countries.

🎙Podcast & YouTube Recommendations🎙

  • Gavin Baker Joins Jason Calcanis for an Interview:

🔮Best Links of The Week🔮

  • 13,000 feet below from Mike Solana at Pirate Wires - Source: here

  • "Microsoft today announced its roadmap for building its own quantum supercomputer, using the topological qubits the company’s researchers have been working on for quite a few years now. There are still plenty of intermediary milestones to be reached, but Krysta Svore, Microsoft’s VP of advanced quantum development, told us that the company believes that it will take fewer than 10 years to build a quantum supercomputer using these qubits that will be able to perform a reliable one million quantum operations per second. That’s a new measurement Microsoft is introducing as the overall industry aims to move beyond the current era of noisy intermediate-scale quantum (NISQ) computing. “We think about our roadmap and the time to the quantum supercomputer in terms of years rather than decades,” Svore said." Source: TechCrunch

  • "Amazon will hold its 2023 Prime Day sales event on Tuesday, July 11, and Wednesday, July 12... The company will introduce a new invite-only Prime Days deals program, giving Prime members the ability to request invitations in advance to purchase products that are expected to sell out during the Prime Day event... Also for the first time, Prime Day deals will extend to participating third-party sites in the Buy with Prime program. Launched last year, Buy with Prime lets Prime members buy items on non-Amazon sites just as they would on Amazon.com, with benefits including streamlined checkout and free delivery." Source: GeekWire

  • "The US Federal Trade Commission has sued Amazon, accusing it of duping customers into signing up for its Prime service without their consent and “sabotaging” efforts to undo their subscriptions. The FTC said in the heavily redacted complaint filed on Wednesday that Amazon had used “manipulative, coercive, or deceptive user-interface designs known as ‘dark patterns’ to trick consumers into enrolling in automatically-renewing Prime subscriptions.” Lina Khan, FTC chair, said in a statement: “Amazon tricked and trapped people into recurring subscriptions without their consent, not only frustrating users but also costing them significant money"." Source: FT


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