원문 보기
are we ready for another exciting week lots of stuff going on this week first and foremost let's talk about something that Jamie Diamond is doing we'll talk about the earnings for next week the economic data and of course what did the all-in podcast have to say this weekend let's start with Jamie Diamond Jamie Diamond is selling 1 million shares of JP Morgan Chase don't know if you know this but he has run the company for nearly two decades and has never sold a share currently holds about 8.6 million shares what does this mean is it a sign that JP Morgan's going down the tubes I don't think so I think this is a very smart man that realizes he's uh not as young as he used to be wants to set his family up and future Generations up I think this is very likely just frankly good tax planning and uh he is still going to be a very large shareholder at over 7 a half million shares so I think this is nothing more than frankly Good Financial Planning uh but it was I was actually interested to see that Jaimie has never sold the fact that he's planning to sell a million share starting next year is interesting so you know kudos to you you are known as the best Banker on the planet uh it's good to see that you are uh executing in efficient uh tax and you know tax planning or wealth planning or whatever estate planning estate planning that was a word I was looking for did you see what Ford produced with EVS more specifically not what they produced but just how much money they lose per EV folks it is reported that in Q3 Ford Motor Company lost lost $36,000 per vehicle Mercedes es saying that the EV Market is brutal there is a price war and frankly the business is UN sustainable with high rates and a price War so it is very interesting to see as the economy softens as clearly demand for Ev EVS shrink what's going to happen to the entire EV Market folks let's talk about uh some economic data for the week it's a big week we got some housing data lots of employment data and of course we have a Fed meeting so let's get into it on Tuesday we will get the case Schiller report it will undoubtedly show a positive number uh keep in mind this is for August I would argue we are in a vastly different real estate market in October which will basically be November when this gets reported so this is August data case Schiller months old very different real estate market but nonetheless we will see home prices up again we' also get consumer confidence on Tuesday Wednesday we will get our first employment report we will get the ADP report remember remember remember the ADP report has been off the last three months couple of times High one time low and we just don't know I frankly think the ADP report has almost nothing to do with Friday's US Farm payrolls but undoubtedly it will be Market moving remember last month ADP report came in low I think it came in at like 163 or something like that and the non- phone payroll was like 360 or something of that nature where before that it was up at 512 and Nono payroll was like 200 or something so again the ADP report has been massively off the last several months we will also get the jolts report what is going on with job openings and quits and all of that that will be interesting remember again last month it went up unexpectedly which is something for all of us to think about so again very very interesting uh THS oh Wednesday we also get the Fed rate decision I've been on this one for a while they're done raising uh we're finally going to get validation of that at least for this month on Wednesday I think it's the press conference the press conference will be Market moving I suspect Jerome pow will be very hawkish it will be a hawkish pause but uh we'll just see how hawkish he is cuz I don't think I don't think he can let the market know they're done I think he has to continue to act tough higher for longer will be the message of the day is my expectation Thursday we will get unemployment claims they ticked up ever so slightly last week but do we have a trend continuing or do they go back down um we shall see and then Friday is the big number the big economic number of the week is US nonform payrolls and the unemployment rate is it ticking up what is going on with jobs wages all of that as far as earnings go we got a bunch of earnings next week we got McDonald's Sofi and Simon properties on Monday uh McDonald's will be interesting what's going on with the consumer Sofi again one of those internet um you know um digital finance companies what's going on there and then Simon properties what is going on with REITs and malls and things of that nature Tuesday caterpillar AMD and paler uh caterpillar for me will be the interesting one if you were going to see really a pullback in construction I think caterpillar would be one of the first places you see that uh Wednesday you'll get Airbnb and PayPal Airbnb you'll be interesting what's going on there Thursday we'll get Starbucks Marriott apple and coinbase obviously headlining Thursday will be apple not to be outdone though is Starbucks remember Starbucks has given color on China pretty much for the last 6 to8 quarters what is going on with the Chinese consumer how about mortgage rates folks there we have three forecasts for mortgage rates Q4 2024 so one year ago one year from today if you want to take a guess go ahead and leave me a comment below just let me know what you think mortgage rates will be 12 31 24 so call it 14 months from today uh according to Fanny May they are forecasting 6.7% Goldman Sachs 6.8% maybe not to be surprised we have Mortgage Bankers association with it with a far Rosier picture saying 6.1 6.1% I personally will take the middle ground I'll actually say 6.5% so again folks if you want to play along leave a comment below where do you think mortgage rates will be 1231 2024 how about something from Virg Virgin Atlantic virgin virgin Atlantic has declared the Austin tech tech tech boom over Austin Tech boom over how did they do that well they have cancelled the direct flight from London to Austin folks if you don't know for the longest time Austin was seen as the next Silicon Valley mix techhub uh in fact there was a flight that I used to take from San Jose California to Austin which was called the nerd bird that was the nickname for all the folks going from the valley to Austin and back uh but it looks like Virgin Atlantic has cancelled the route from London to Austin because demand is soft yes a lot of folks are not longer going to London from Austin and vice versa I saw an interesting uh stat about the younger generation folks I was going to say kids that's not fair 35 and under young adults 35 and under have seen their median net worth increase 142% in the last three years in between 2019 2022 it has gone up 142% remember percentages are very misleading so what does that mean their net worth went from 16 Grand to 39 Grand again this age group at least to date I think about 40% of them or so own home uh but again uh their net worth R Rose from 16 to 39 Grand a lot of that is savings and stocks and things of that nature what is the all-in podcast saying well if you get into the all-in podcast and listen to it they're basically saying private marks on private companies and unicorns are starting to be had basically their estimations is a lot of companies need to take 50 to 80% write Downs companies need to get get to uh default alive else they could be sold off for parts so there's a lot of pain coming price resets again we have a lot of pain coming in a lot of areas that got used to 0% rates where risk was Zero uh so lots of lots of pain coming it's still you know out there we've been lucky enough on this channel to talk to some people involved in that and they're like the Pain's not going to really Crest until 2025 uh so a lot of stuff out there and then finally folks there was an interesting article on CNBC uh talking with the podcast hosts of earn your leisure earn your leisure Tony and Rashad uh they run an excellent podcast called earn your leisure a couple of things that really caught my attention in this article was that there was kind of the idea that you might need 10 million to be financially free I think it's I think it's hard for most of us to to think about having a million but now to think about having $10 million I think that's pretty tough but at the end of the day it is a goal if you can work that way and you don't get there will you'll be in an okay spot at 2 or three absolutely a couple other things from the article that I thought were worth highlighting is in uh investing is not just for the rich I couldn't agree more we need financial literacy we need to make it uh we need to make it cool to invest to save to create discre income and move forward at the end you need to make your money you need to make money with your money that's exactly right is the only path to not working forever so again Tony and Rashad if you haven't watched or listened to it earn your leisure podcast uh it is a very well respected and knowledgeable and they bring on some great guests so again earn your leisure folks have an amazing day I actually had to record this on Saturday because we have a very ungodly early flight on Sunday so I didn't want to miss it bye
Comments 0