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Jul 14, 2022

Good morning!

‍I noted to Charles Payne this morning via Twitter ahead of the number that I expected today’s inflation reading to be 9.2% or more.

I was wrong.

It was “only” 9.1%.

Futures, of course, tanked on the news.

Here’s my playbook.

Keep it on the fairway

I sat down for a conversation late yesterday with the wonderful folks at Yahoo! Finance. We talked about what investors should be thinking about (and doing) right now, why quality matters and how that should impact your approach to the markets. (Watch - 8 mins)

And, in the same vein, I stopped by for a conversation with my friend Scott “the Cow Guy” Shellady on RFDTV. The Fed is measuring the wrong data. And sadly, 9.1% doesn’t even remotely begin to reflect what we’re feeling in our wallets (Watch – 6 mins)

In both cases I talk about what to watch as an investor and, importantly, where to put your money now.

Hopefully, you’ll find what I have to say helpful, if not at least a little calming!

Twitter suing Musk isn’t the real story

As expected, Twitter has launched a lawsuit against Tesla CEO and erstwhile former-suitor Elon Musk.

That’s not the real story, though.

What’s happening is a canary in the proverbial coal mine for the entire social media space. User data has always been suspect.

My take this morning on Twitter and tech in general with the super savvy Maria Bartiromo. (Watch - 4 mins)

A $10 billion wakeup call

3 Arrows Capital (3AC), a heavyweight hedge fund in the crypto space recently went belly up after missing multiple margin calls.

A NY judge froze assets yesterday and the founders have gone underground, presumably hiding from some really angry investors, creditors and customers. (Read)

There is a silver lining, however.

Digital currency is not going away any time soon. The resulting regulation that comes out of all this nonsense will create some much-needed stability while forcing bad actors out.

Most will never see the inside of a courtroom. Some may soon be wearing concrete boots if rumours are to be believed.

Reminds me of the lead up to the Global Financial Crisis in 2008 or the Asian Currency Crisis of 1997. Both situations were related to excessive leverage and devaluation.

AMZN throws down the gauntlet

We’ve talked for years about what a game-changer Amazon will be when it enters medical markets, especially where there are juicy margins to be attacked.

Here it comes.

Amazon is working with Fred Hutch on a cancer vaccine and will be collaborating on clinical trials resulting in “more focused and cheaper cancer care.” (Read)

I’d be leery as heck if I owned any insurance companies or startup biotech cancer treatment companies operating on a wing and a prayer.

Amazon will destroy health care margins and, in doing so, laugh all the way to the bank.

Want warm buns, pay up!

Seems like nothing is off limits now … not even warming your buns.

BMW is charging a subscription fee for heated seats if you buy a new car in Germany, South Korea and other places … $18 a month, $180 a year or $415 for unlimited toasties.

I get that the so-called subscription model first introduced in software markets is alluring to other industries but enough already!

This is like a subscription for the light in your refrigerator or paying by the word for your phone calls??!!

I cannot possibly be the only one who thinks this is a joke.