This Week in Barrons: Sept. 1st, 2024

This Week in Barrons: September 1, 2024:

We need more naps…  The Goldilocks’ nap is ~20 min. long (to prevent post-snooze grogginess and issues falling asleep later), and ~6 to 7 hours after waking up.  Naps put you into a low-power mode – allowing your body & mind to recuperate.

Schools should stop teaching cursive…  It amazes me that schools still teach handwriting – when the only thing I write by hand are my shopping lists.  Are schools relegated to teaching us where the margins are, while the rest of life challenges us to go beyond them.

90% of the effort – is in the last 10% of the job…  I call it the finishing move.  But without all of those who do the long and winding prep-work – there is no finishing move.

It’s tough to go back…  Once upon a time, pharmacists mixed chemicals by hand, opticians ground lenses from scratch, and lawyers started with an empty page.  All of these jobs are still important, but none have stayed the same.  In your work, are you fighting change or leading it?

The Market:

Cheaper capital is coming to the market…  which also means a portion of the ~$6.4T sitting in money market funds will likely find a new home in equities.  History shows us that lower rates lead to higher asset prices.  August’s summary:

• The S&P 500 closed August ‘UP’ +2.3%.
• Retail bought the dip.
• Sentiment is euphoric, but seasonal risks are rising.
• Rotation prospects look good – in terms of value and fundamentals.

Broaden your experience, but narrow your field of view…  We only have so much emotional storage, but we continue to stockpile market memories unrelated to us and outside of our control.  Per Phil P: We have exhausted our emotional storage space.  We are great hoarders, but lousy forecasters.  Therefore, we need to become less and less interested – in more and more things.

AI needs more ‘herbs’…  Per Seth G: Sure, food can sustain us, but ‘herbs’ are the addition that create interest and wonder.  For example, the first 100 interactions that you have with AI will leave you amazed, but post-amazement you’ll feel a bit incomplete.  User experience pros are trained to add-the-herbs.  Pros will create tiny speed bumps, moments of tension, and opportunities for imperfection, traction, and conflict – within an AI experience.  Currently, AI is in search of customers and business models.  Adding ‘herbs’ into the AI experience will bring in both of those.  

[ Learn about BullseyeTrades.com here… ]

InfoBits:

• Are you human?  Chinese tech firms unveiled 27 humanoid robots at a Beijing expo, with Tesla’s Optimus being the only foreign competitor present.  China is committed to dominating the humanoid robotics race, and commercially available humanoids may be coming sooner than most expect.

• Lower interest rates won’t necessarily help housing affordability…  since a cut will most likely trigger more short-term buyers and price increases.

• Boeing’s spaceship is returning from space empty…  Both SpaceX and Boeing were awarded funding under a 2014 NASA award.  SpaceX has flown nine crewed NASA flights to the ISS since 2020, while Boeing has yet to complete any successful missions despite going $1.5B over budget.

• Australia’s “right to disconnect” laws went into effect…  giving Aussies’ the right to ignore their boss outside of working hours.

• Pres. Biden raised duties on Chinese EVs to over 100%...  Canada’s now following suit with its own 100% EV tariff (plus a 25% duty on Chinese steel and aluminum).

• Made in China – Stays in China…  this week IBM shut down its Chinese R&D team affecting around 1,000 employees.

• Groundhog Day for oil demand…  as ExxonMobil forecasts that oil demand will remain constant through 2050.

• Home prices hit record highs…  as national prices rose 5.4% YoY. 

• OpenAI is raising money…  because even with sales of ~$3.4B, it’s will lose $5B by the end of this year.  They will need to raise more money than any start-up ever has – at a $100B valuation. 

• Warren Buffett’s Berkshire…  becomes the first non-tech company worth $1+T.

• A generational shift towards balancing work life…  shows that ll sick leave usage increased by 55% from 2019 to 2023.  Even white-collar workers took sick leave 42% more in 2023 than in 2019.

• Alibaba just threw its hat into the AI beauty contest…  as they released a new vision-language model that outperforms GPT-4o in several benchmarks.

• ChatGPT now has 200M+ weekly active users…  up +200% from Nov. 2023.

• Q2 GDP was revised higher…  from 2.8% to 3.0%.

Crypto-Bytes:

• Pavel Durov, Telegram's CEO, was detained in France…  throwing crypto, privacy, and free speech worlds into chaos.  Pavel is currently charged with “complicity, and refusal to cooperate”; with bail being set at €5m.  The arrest comes as the EU implements its Digital Services Act – which imposes stricter rules on content moderation.  With #FreePavel trending, the crypto and Telegram communities aren’t backing down.

• BlackRock has surpassed Grayscale…  as the leading manager of on-chain capital as its lineup of exchange-traded funds now includes the largest Bitcoin product on the market (IBIT). 

• Bitcoin spot ETFs enjoyed their eighth…  consecutive day of inflows on August 26 – with BlackRock’s IBIT leading the way.

• The Nasdaq is awaiting regulatory approval…  to launch BTC Index Options (XBTX).  If approved, this will mark a significant step in the maturation of digital assets.

• There are now 172,300 crypto millionaires…  with Bitcoin producing 85,400 of them.

[ Learn about Polymarket.com here… ]

TW3 (That Was - The Week - That Was):

Monday:  This week brings us earnings from the most darling of the Mag-7: Nvidia.  They report on Wednesday (after the bell) and expectations are for yet another blowout quarter, beating estimates, and raising guidance.  If they do all that, the entire AI space will once again light up.  If they disappoint, it could rock the entire NASDAQ.

Thursday:  Nvidia’s earnings were incredible: Revenue: $30.0B UP +122% YoY, EPS: $0.67 UP +168% YoY, Operating Income: $18.64B UP +174% YoY, Net Income: $16.60B UP +168% YoY, Gross Margin: 75.7%, and they Announced a $50B stock buyback.  The only issue is that their revenue growth decelerated from previous quarters. 

Friday:  This morning we’re awaiting another measure of inflation – the PCE.  The PCE headline number is 0.3, they wanted 0.2, but it was better than last month’s reading.  Core PCE came in at 0.2% MoM and 2.6% YoY – beating the 2.7% estimate.  These numbers will allow Powell to do multiple rate cuts starting in September.

Morgan’s Moments…  

The newest Samsung EV battery…  uses a 2.2lb. SILVER core.  It’s lighter than current batteries.  There's much less risk of fire.  It will offer a 600-mile range and will recharge in 9 minutes.  If they sold 20% of the global EV market, they'd need to use 16,000 tons of the 25,000 tons of silver mined each year.  If these batteries work, they will affect the silver supply and price.  Tip: The pure silver miners that I like for this solution are HL (the largest silver miner in the U.S. and third largest in the world) and SVM.  The key is patience. 

Bitcoin performance summary:

• Q2: The most consistent performer, balancing gains with fewer severe losses.
• Q4: High highs, low lows – exciting but risky.
• Q1: A decent start to the year with moderate performance.
• Q3: The most underwhelming, often a quiet quarter for Bitcoin.

Next Week: Time to ‘Bear-Up’?

Bkgd:  The plan was easy – until it wasn’t.  Nvidia was to deliver dynamite earnings, and markets were to rally from Wednesday night onward.  Instead, we received good earnings, and 2-days of a low-volume, illiquid slop-fest.  New market leaders are emerging, but the September calendar scares me – along with rate cuts.  

1. Watch our Monetary Policy pivot…  from being a headwind to a tailwind as rate cuts pick up the pace.
2. Watch Emerging Markets (INDA)…  given their strengthening technicals, sentiment, value, a lower USD, and significant investor under-allocation.
3. Watch Global, Small, & Value (HROW)…  over U.S., Large, and Growth.

Nvidia and Tech…  Factually, we cannot make new highs without technology leading the way.  

The Financials & BRK/B try to lead…  but the best we can do is tread water with our financials leading.  

September is historically and notoriously a volatile month…  and with FED rate cuts approaching – this one will be no different.

New Trade Ideas…  with the premise being: (a) it’s an election year, (b) the incumbents would like to be re-elected, and (c) people vote with their pocket books.

• 1.  Tech will need to reclaim ownership of this market – making it ripe for NVDA and MSFT to assert their dominance.
• 2.  Disney is sitting right on 15-year LOWS, and moving in the wrong direction. 

Tip #1: Buy a MSFT out-of-the-money (OTM) Call Spread – 30+ days out.  

• October +$450 / - $455 Call Spread for $0.60

Tip #2: Buy a NVDA OTM Call Spread – 30+ days out.

• October +$140 / - $145 Call Spread for $0.65

Tip #3: Buy a DIS OTM Put Spread – 30+ days out.

• October +$85 / -$80 Put Spread for $0.55

SPX Expected Move (EM):

• Last Week: EM = $82, and we ended up flat ($0)
• Next Week: EM = $75 – but with a 4-day trading week.  

Is it time to ‘Bear-Up’?  Not just yet – despite us being in a low liquidity September with Warren Buffett screaming caution.  It’s true that this marketplace needs technology to lead it because without it – we can’t make new highs.  Financials are trying, but they’re not enough to carry the S&Ps alone.  The economic data that drops this week could spark massive moves.  Therefore, put your hedges-on, and your hands-n-feet inside the vehicle – as we’re definitely coming into some turbulence.

TIPS:

HODL’s: (Hold On for Dear Life)

• 13 to 17-Week Treasuries @ 5.02%
• Physical Commodities = Gold @ $2,536/oz. & Silver @ $29.2/oz.
• **Bitcoin (BTC = $59,200 / in at $4,310)
• **Ethereum (ETH = 2,520 / in at $310)
• HROW – Harrow Health = $40.4 / in at $12 
• BRK/B – Berkshire = ($475.92 / in at $439)
• **MARA – Marathon Digital = ($16.7 / in at $12) 
• Weekly: BUY Puts for protection / SELL Calls for income
• INDA – India ETF ($57.7 / in at $50)
• **IBIT – Blackrock’s Spot Bitcoin ETF ($33.3 / in at $24)
• **RIOT – Riot Bitcoin Mining ($7.5 / in at $12.5)
• Weekly: BUY Puts for protection / SELL Calls for income

Options Plays (hedges):

• +TLT ($96.4) – Bonds: Jan ’26: +$110 / -$130 CALL-Sp.
• +SPY ($563) – S&Ps: Jan ’25: +$520 / -$500 PUT-Sp.
• +SPY ($563) – S&Ps: Jan ’25: +$500 PUT
• +WEC ($93) – Wisconsin Power: Oct ’24: +$95 / -$100 CALL-Sp.
• +GLD ($231) – Gold ETF: Oct ’24: +$245 / -$250 CALL-Sp.
• +XLU ($76) – Utilities ETF: Jan ’25: +$80 / -$85 CALL-Sp.

** Crypto-Currency aware

Please be safe out there!

Disclaimer:

Expressed thoughts offered within the BARRONS REPORT, a Private and free weekly economic newsletter, are those of noted entrepreneur, professor and author, R.F. Culbertson, contributing sources and those he interviews.  You can subscribe by visiting: 

https://rfsfinanicalnews.beehiiv.com/subscribe. 

Please write to Mr. Culbertson at: <rfc@culbertsons.com> to inform him of any reproductions, including when and where copy will be reproduced. You may use in complete form or, if quoting in brief, reference <http://rfcfinancialnews.blogspot.com/>.

If you'd like to view R.F.'s actual stock trades - and see more of his thoughts - please feel free to sign up as a StockTwits follower -  "taylorpamm" is the handle.

If you'd like to see R.F. in action - teaching people about investing - please feel free to view the TED talk that he gave on Fearless Investing: 

https://www.youtube.com/watch?v=K2Z9I_6ciH0   

Creativity = https://youtu.be/n2QiPSe_dKk   

Investing = https://youtu.be/zIIlk6DlSOM 

Marketing = https://youtu.be/p0wWGdOfYXI 

Sales = https://youtu.be/blKw0zb6SZk 

Startup Incinerator = https://youtu.be/ieR6vzCFldI 

To unsubscribe please refer to the bottom of the email.

Views expressed are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest and is not in any way a testimony of, or associated with Mr. Culbertson's other firms or associations.  Mr. Culbertson and related parties are not registered and licensed brokers.  This message may contain information that is confidential or privileged and is intended only for the individual or entity named above and does not constitute an offer for or advice about any alternative investment product. Such advice can only be made when accompanied by a prospectus or similar offering document.  Please make sure to review important disclosures at the end of each article.

Note: Joining BARRONS REPORT is not an offering for any investment. It represents only the opinions of RF Culbertson and Associates.

PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING. WHEN CONSIDERING ALTERNATIVE INVESTMENTS (INCLUDING HEDGE FUNDS) AN INVESTOR SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS AND OTHER SPECULATIVE INVESTMENT PRACTICES MAY INCREASE RISK OF INVESTMENT LOSS; MAY NOT BE SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.

Alternative investment performance can be volatile. An investor could lose all or a substantial amount of his or her investment. Often, alternative investment fund and account managers have total trading authority over their funds or accounts; the use of a single advisor applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. There is often no secondary market for an investor's interest in alternative investments, and none is expected to develop.

All material presented herein is believed to be reliable but we cannot attest to its accuracy. Opinions expressed in these reports may change without prior notice. Culbertson and/or the staff may or may not have investments in any funds cited above.

To Subscribe: https://rfsfinanicalnews.beehiiv.com/subscribe

Remember the Blog: <http://rfcfinancialnews.blogspot.com/> 
Until next week – be safe.

R.F. Culbertson

<mailto:rfc@culbertsons.com>

http://rfcfinancialnews.blogspot.com

 

This Week in Barrons: August 25, 2024

• It doesn’t matter how hard you try…  you can’t change the direction of the wind.  But that doesn’t mean you can’t get good at sailing and navigation.  Per Seth G: We can try and change the conditions in our household, community, and/or workplace.  It might feel at times like we’re battling the wind, but the difference is – we contribute to each of their causes and can influence their outcomes.  That doesn’t make it easy or fast.  But, knowing that it’s possible is the first step.  Otherwise, we all need to improve our sailing and navigation skills.

• Aren’t the words: ‘sponsored results’ an oxymoron?  We’ve been hooked on free media for a century.  Newspapers and network TV evolved to be extremely clear about what is content, and what is an ad.  The internet, by hyper-competing for the last penny – produced a pay-to-play grey area called: ‘sponsored results.’  On any search, the ‘sponsored results’ are displayed before the ‘real results.’  In the world of money vs trust, if they’re ‘sponsored results’ – doesn’t that mean they’re not results at all?

• A simple 5-second break is amazingly effective…  when it comes to reducing negative emotions and diffusing arguments.

The Market:

• In the S&P 500, Amazon, Alphabet, Nvidia, Microsoft, and Apple…  have accounted for a record 29% of the index’s market cap.  However, market bears have increasingly gone underground as market concentration has narrowed.  The Mag-7 have doubled the returns of the S&P over the past year.  Virtually every Wall Street firm is telling their clients not to miss the ride to the top.  And with ~20% earnings growth over the next six quarters, there’s certainly a compelling risk-reward outlook for global tech. 

• Remember when: Elon Musk borrowed $13B from Morgan Stanley, B of A, and 5 other major banks to help finance its $44B acquisition of Twitter / X.  This could be the worst banking merger-finance deal since the 2008 financial crisis.  Why?  When banks lend money for takeovers, they usually sell that debt on to others, earning fees on the transaction.  That hasn’t been possible since X’s revenues have fallen by -45%, and the company is currently valued at only $19B.  Holding $13B in loans on a $19B company without a negotiated interest rate and repayment schedule – seems like a costly mistake to me.  

[ Learn about Bullseye Trades here… ]

InfoBits:

• A federal judge temporarily blocked the launch of Venu Sports…  on antitrust grounds.  Venu Sports is a joint venture between: Disney's ESPN, Fox, and Warner Bros. that will charge subscribers $43/mo. for access to 15 live sports channels.

• 10% of all U.S. homes are worth $1m or more.

• If you’re invested in Berkshire Hathaway, you own…  $300B in railroads, energy & insurance – and $277B in cash and patience.

• This week the BLS downwardly revised job growth…  for the April 2023-March 2024 period by 818,000 jobs.  So, all of the monthly Jobs Reports that ‘beat estimates’ are now misses – and our job market is in far worse shape than the admin. would previously admit to us.

• For the first time, a 400-ounce bar of gold is worth over $1 million.   Gold is starting to showcase its superiority over the U.S. Dollar.  

• Both political parties are calling for a $5k+ child tax credit…  as the U.S. birth rate plummets. 

• The Mag-7 have added over $1.4T in market cap… since August 5. While the rally as a whole has broadened out, the household names are still pulling their weight.

• Lowe’s missed earnings…  when people are uneasy about the economy, they tend to spend less on unnecessary upgrades.  Home improvement and repairs will fall about -7% YoY.

• Starbucks’ incoming CEO is getting a major work perk…  the ability to work from their home office in Newport Beach, California – rather than move into the corporate HQ in Seattle, Washington.

• Starbucks’ CEO is not the only exec with relocation perks…  Victoria’s Secret’s new boss can also work from her home office in New York rather than in the company’s main office in Columbus, Ohio. 

• Healthcare costs will jump by 9% next year…  up from this year’s 6% hike.  That will push the healthcare cost per employee to more than $16,000/yr.

• Amazon is letting sellers issue refunds without returning products…  as an estimated 20% of online purchases are returned.

• BMW sold more EVs than Tesla… for the first time in Europe last month.  [Elon – there may be something to that ‘marketing/sales’ stuff.] 

• Inflation expectations in the U.S. (2.4%)…  UK (3.2%), and Europe (2.1%) dropped to their lowest levels since 2022.

• Salesforce introduces their Einstein Sales Agent…  that 24/7 engages with inbound leads to answer questions, handles stalls-n-objections, and books meetings.

• Uber and GM’s autonomous driving unit Cruise…  are now partners.

• On September 10, Apple will unveil…  new iPhones, watches and AirPods.

Crypto-Bytes:

• The SEC rejected filings for Solana’s ETFs…  making their approval under the current administration highly unlikely.

• Binance (BNB) blocked $2.4B in potential fraud in 2024…   protecting over 1.2m users.

• A “Crypto4Harris” town hall…  is shaking up HODLers, VCs and developers now that the Harris campaign brought on an ex-Binance adviser, and Dem. Sen. Chuck Schumer said pro-crypto legislation could be signed into law this year.

• Bitcoin ETF inflows have dropped since early August…  Mt. Gox recently moved 12,000 BTC, but analysts suggest creditors are HODLing their Bitcoin.  And rumors of a gov’t BTC sell-off are simply transfers in custody.

• Bitcoin is currently trapped in a descending channel…  and may need whales to step in and spark an anticipated Q4 rally.

[ Learn about Betterment.com here… ]

TW3 (That Was - The Week - That Was):

• Tuesday:  You know it’s a slow news day when I start wondering whether the S&P green streak is going to end.  Our current 8-day stretch is the 4th longest in 30 years.

• Wednesday:  Today the BLS revised the Jobs numbers down by -818,000 jobs from their original reports.  Subtracting 818,000 jobs is eliminating ~25% of the total 2.9m jobs the government said we added.  Unfortunately, our FED is making monetary policy decisions based on this data; therefore, they could be (once again) behind the curve in their decision-making.

• Friday:  Our FED will cut interest rates in September.  To quote J. Powell on our labor market: “It’s unlikely that the labor market will be a source of elevated inflationary pressures anytime soon.  We will support a strong labor market as we make further progress toward price stability.”

Morgan’s Moments…  

• Above is the ratio of the Bitcoin Miners ETF (WGMI) relative to the price of Bitcoin for 2024.  When this line is moving higher, it means that Bitcoin mining stocks are outperforming Bitcoin.  This suggests that the miners are positioned to outperform Bitcoin as Bitcoin moves higher over the coming months.  I stepped into RIOT & MARA last week – betting on an upside resolution in price in the coming weeks.

• Narrate your own blog posts…  RenderNet's Narrator feature allows busy founders and creators to quickly create AI clones of themselves and create realistic videos narrating any script.
• 1. Sign up for a free RenderNet account on their website.
• 2. Select "Try Narrator" from the main dashboard and upload a video file of yourself speaking.
• 3. Select an AI voice, and input your script. You can also upload a custom audio file with your own original voice directly.
• 4. Click 'Generate' to generate your AI clone video

• Turn your PDF into an interactive presentation… Step-by-Step:
• 1. Upload your PDF to an AI chatbot (e.g., ChatGPT).
• 2. Request a Python script for an interactive dashboard using Plotly Dash.
• 3. Copy the AI-generated Python code and create a new Python project on RepLit.com. 
• 4. Paste the code into RepLit and run the code in RepLit to generate your interactive dashboard.

Next Week: Echoes of Volatility…

• Bkgd:  Tech stocks face a key technical test this week - $20k for the NASDAQ 100.  Global stocks are breaking out – thanks to the weaker U.S. Dollar.  A FED pivot is underway – away from interest rates and refocusing on unemployment.  September is the season for higher volatility.  And, all eyes are on NVDA’s earnings (8/28) and the upcoming PCE report (8/30).  

• The Volatility effects…  continue to haunt traders.  The VVIX is still around 110, and this is not what market movements should look like when you’re within a couple percent of all-time-highs.  Tip #1: Fair Warning: be prepared for over-sized moves because marketplace liquidity is thin.  

• It’s no longer about the FED cutting rates…  There’s a 63% chance of a 25bps cut in September, and a 37% chance of a 50bps cut.  Fair warning, history shows us that when our FED starts to cut, markets also start to move lower.

• Bonds appear ready for a breakout…  as rates go lower – they will pierce the 125 level on the /ZB (30-Year Treasury).  Tip #2: Any pullbacks in bonds are buyable.

• The U.S. Dollar is collapsing…  and is almost under 100.  We haven’t seen action like this in the past 3 years.  The trade here is not in the Dollar, but rather Silver (SLV) and potentially Bitcoin (BTC).  Tip #3: Let Silver (SLV) pull back to ~$26 then buy it and/or just buy Bitcoin (BTC).

• Any upcoming negative economic data…  will be NEGATIVE for the marketplace - for the first time in 15 years.  That explains (along with seasonality) the consistently high volatility that we’re seeing.   

• The ripple effects of NVDA’s earnings…  Nvidia is setting up for an 8 to 13% move on Thursday morning.  Be prepared that a move of that magnitude on a $3T company – will ripple into the NASDAQ and the S&Ps.  

• SPX Expected Move (EM):

• - Last Week: EM = $74 and we hit it on-the-nose @ $75.
• - Next Week: EM = $81 and we have NVDA earnings and PCE data.  

TIPS:

HODL’s: (Hold On for Dear Life)

• - 13 to 17-Week Treasuries @ 5.04%
• - Physical Commodities = Gold @ $2,546/oz. & Silver @ $29.8/oz.
• - **Bitcoin (BTC = $63,500 / in at $4,310)
• - **Ethereum (ETH = 2,730 / in at $310)
• - HROW – Harrow Health = $42.9 / in at $12 = ~Doubled on Aug 8th earnings
• - **MARA – Marathon Digital = ($18.6 / in at $12) 
• o Weekly: BUY Puts for protection & SELL Covered-Calls for income
• - INDA – India ETF ($57 / in at $50)
• - **IBIT – Blackrock’s Spot Bitcoin ETF ($36 / in at $24)
• - **RIOT – Riot Bitcoin Mining ($8.3 / in at $12.5)
• o Weekly: BUY Puts for protection & SELL Covered-Calls for income

Options Plays:

• - +TLT ($97.4) – Bonds: Jan ’26: +$110 / -$130 CALL Spread – hedge
• - +SPY ($554) – S&Ps: Jan ’25: +$520 / -$500 PUT Spread – hedge
• - +SPY ($554) – S&Ps: Jan ’25: +$500 PUT – hedge

• - +WEC ($92) – Wisconsin Power: Oct ’24: +$95 / -$100 Call Spread - hedge
• - +GLD ($232) – Gold ETF: Oct ’24: +$245 / -$250 Call Spread – hedge  
• - +XLU ($75) – Utilities ETF: Jan ’25: +$80 / -$85 Call Spread – hedge

** Crypto-Currency aware

Please be safe out there!

Disclaimer:

Expressed thoughts offered within the BARRONS REPORT, a Private and free weekly economic newsletter, are those of noted entrepreneur, professor and author, R.F. Culbertson, contributing sources and those he interviews.  You can subscribe by visiting: 

https://rfsfinanicalnews.beehiiv.com/subscribe. 

Please write to Mr. Culbertson at: <rfc@culbertsons.com> to inform him of any reproductions, including when and where copy will be reproduced. You may use in complete form or, if quoting in brief, reference <http://rfcfinancialnews.blogspot.com/>.

If you'd like to view R.F.'s actual stock trades - and see more of his thoughts - please feel free to sign up as a StockTwits follower -  "taylorpamm" is the handle.

If you'd like to see R.F. in action - teaching people about investing - please feel free to view the TED talk that he gave on Fearless Investing: 

https://www.youtube.com/watch?v=K2Z9I_6ciH0   

Creativity = https://youtu.be/n2QiPSe_dKk   

Investing = https://youtu.be/zIIlk6DlSOM 

Marketing = https://youtu.be/p0wWGdOfYXI 

Sales = https://youtu.be/blKw0zb6SZk 

Startup Incinerator = https://youtu.be/ieR6vzCFldI 

To unsubscribe please refer to the bottom of the email.

Views expressed are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest and is not in any way a testimony of, or associated with Mr. Culbertson's other firms or associations.  Mr. Culbertson and related parties are not registered and licensed brokers.  This message may contain information that is confidential or privileged and is intended only for the individual or entity named above and does not constitute an offer for or advice about any alternative investment product. Such advice can only be made when accompanied by a prospectus or similar offering document.  Please make sure to review important disclosures at the end of each article.

Note: Joining BARRONS REPORT is not an offering for any investment. It represents only the opinions of RF Culbertson and Associates.

PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING. WHEN CONSIDERING ALTERNATIVE INVESTMENTS (INCLUDING HEDGE FUNDS) AN INVESTOR SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS AND OTHER SPECULATIVE INVESTMENT PRACTICES MAY INCREASE RISK OF INVESTMENT LOSS; MAY NOT BE SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.

Alternative investment performance can be volatile. An investor could lose all or a substantial amount of his or her investment. Often, alternative investment fund and account managers have total trading authority over their funds or accounts; the use of a single advisor applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. There is often no secondary market for an investor's interest in alternative investments, and none is expected to develop.

All material presented herein is believed to be reliable but we cannot attest to its accuracy. Opinions expressed in these reports may change without prior notice. Culbertson and/or the staff may or may not have investments in any funds cited above.

To Subscribe: https://rfsfinanicalnews.beehiiv.com/subscribe

Remember the Blog: <http://rfcfinancialnews.blogspot.com/> 
Until next week – be safe.

R.F. Culbertson

<mailto:rfc@culbertsons.com>

http://rfcfinancialnews.blogspot.com