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- Biden withdrew, Trump partied, tech fell
The dog days of summer. We’re in em. Know what they are?
They run from July 3 to August 11th, are usually the hottest days of the year, and the term originates from the star Sirius, also known as the Dog Star, which is the brightest star in the constellation Canis Major at this time.
Anywhoot, it seems the doggo days of summer are only getting more wild. One President had a truly insane convention, another dropped out of the race, and tech sold off BIGLY.
Markets
PAST WEEK | YEAR-TO-DATE | |
|---|---|---|
Nasdaq | -4.4% | +18.1% |
S&P500 | -2.4% | +16.1% |
MSCI Emerging Markets | -3.3% | +7.6% |
Bitcoin* | +12.8% | +59.1% |
Ethereum* | +9.4% | +49.2% |
Stock of the week: | +18.0% | +159.6% |
Crypto of the week: | +61.4% | +10,611.6% |
Source: CoinGecko.com As of 5:20PM July 21nd
World news
Top news stories of the past week
1) Biden’s out: After months of “will he, won’t he”, Biden has officially announced he’s withdrawing from the 2024 U.S. Presidential race. The 81 year old President has had health issues, including getting COVID just this past week. What’s next? Biden endorsed Kamala Harris as nominee, BUT the Democratic party needs to officially select their candidate, sooo we don’t know yet.
2) The RNC was a meme: The U.S. Republican National Convention was held this past week and it was truly a spectacle. Hulk Hogan tore his shirt off, Kid Rock performed, and Trump gave a 90-minute speech accepting the Republican party’s nomination as their presidential candidate. The European mind cannot comprehend.
3) Tech tumbled: U.S. technology company stocks plummeted by nearly 6%, losing $900B in market value. Growing expectations of interest rate cuts and a second Donald Trump presidency has drawn money away from this year’s winners and into sectors that have struggled in 2024, like small cap stocks.
Top WEIRD stories of the past week
1) A Nigerian gamer named Oluwole set a new Guinness World Record by playing the mobile game Dream League Soccer for 75 hours straight. Why?
2) A Texas man legally changed his name to “Literally Anybody Else” to apply for a particularly difficult-to-get job: President of the United States. Best of luck!
3) An overturned truck in North Carolina spilled thousands of gallons of steak sauce on the highway. I’m a big sauce guy, but even this is excessive for me.
Chart
You like charts? Graphs? Ya you do
Gold has been on a tear. It’s up 16% year-to-date and 21% over the past year.
Investment idea
What are we investing in?
Private loans
Investing in private loans and mortgages can be a good way to earn higher returns and diversify your portfolio. These investments usually offer returns of 8-12% per year, which is higher than traditional fixed-income options. With private mortgages, you can invest in real estate without owning property, avoiding issues like managing the property or dealing with vacancies.
However, there are risks involved. Borrowers might default on their loans, property values can fluctuate, and these investments are less liquid than publicly traded securities.
If you're interested, there are a few ways to invest in private mortgages:
Mortgage Investment Corporations (MICs): These allow you to invest in a variety of mortgages, spreading out the risk.
Whole Mortgage Programs: These are usually for high-net-worth investors and involve investing directly in individual mortgages.
Online Platforms: Some websites help facilitate private lending, but it's important to research and understand the risks before investing.
Check out Fundrise for an easy online platform! Not sponsored.
History
On this day…
…in 1933, American aviator Wiley Post returns to Floyd Bennett Field in New York, having flown solo around the world in 7 days, 18 hours, and 49 minutes. He was the first aviator to accomplish the feat. Badass.
Music
Banger of the week
Most important thing
Meme? Nah. Art.
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