- Compound Interests
- Posts
- Level-set: Tech insiders trim, BoJ opposite day, BlackRock rock hard for crypto
Level-set: Tech insiders trim, BoJ opposite day, BlackRock rock hard for crypto
Week ending March 24th
My name Jeff
March 25, 2024
Are we allowed to refer to BlackRock as “rock hard”? Not cancelled yet, so I guess so.
PAST WEEK | YEAR-TO-DATE | |
|---|---|---|
Nasdaq | +1.7% | +11.3% |
S&P500 | +1.5% | +10.4% |
MSCI Emerging Markets | +0.7% | +2.8% |
Bitcoin* | -3.4% | +56.0% |
Ethereum* | -6.7% | +48.5% |
Stock of the week: | +137.6% | +64.3% |
Crypto of the week: | +68.7% | +490.3%** |
*As of March 24 2024 @ 3:30pm EST. Source: CoinGecko.com
**Launched January 18, 2024
Top stories of the past week
1) Tech leaders take profits
Some of big tech’s big dawgs, like Zuckerberg, Bezos, and Thiel, have been selling their shares, making people a bit nervous that this rally maybe, somehow, potentially, possibly can’t go on forever (WTF???). Or Zuckerberg could be using the funds to buy his new yacht. Zuck, my dude, I will accept an invite onboard.
2) Say さようなら to negative rates
Oh, you don’t read Japanese? That says “sayōnara”. Oh, you don’t speak Japanese? Me neither. Anyway the central bank of Japan just raised rates out of negative territory (to 0%-0.1%) for the first time in eight years - bold move! On a related note, Japan’s stock market has been on an absolute tear, up 23% this year.
3) BlackRock is thirsty AF for crypto
The asset management behemoth famous for not having a DJ as their CEO (shouout DJ D Sol of Goldman) announced they’re launching a real-world-asset tokenized fund on the Ethereum network. Why is this news? A lot has changed at BlackRock since 2017, when CEO Larry Fink said Bitcoin was an index of money laundering. Now they can’t get enough of the magic internet money, having launched their Bitcoin ETF in January which now holds over U$10B.
Source: bitcoinnews.com
Top WEIRD stories of the past week
1) Indian YouTuber got busted for selling snake venom as a party drug. PSA: if someone tells you to make out with a snake at a party, think twice.
2) A billboard was erected in Kentucky lactose-shaming a man for apparently eating 20 gallons of liquid cheese in a year. I don’t see the problem.
3) Verstappen didn’t win the Australian Grand Prix and Ferrari got a one, two finish. Maybe the weirdest news this week.
**NEW SEGMENT** Reader mail Mondays!
We have so many loyal readers (maybe billions?) that are always messaging us amazing things, like this:
Thanks for the kind words!
You like charts? Graphs? Of course you do.
Source: Google Finance
On this day…
…in 1306, Robert the Bruce was crowned King of Scotland. He went down in history for liberating the Scots from the Brits and having a beautiful moustache.
Banger of the week
Meme? Nah. Art.
Tell your pals to join our loyal ranks and we’ll consider throwing one of those snake venom parties mentioned earlier.
Reply