RF's Financial News

RF's Financial News

Sunday, October 6, 2024

This Week in Barrons: 10.06.2024

Markets are worried…  To subscribe: https://rfsfinanicalnews.beehiiv.com/subscribe 

Baker Mayfield: “The Tampa Bay locker room was ‘too stressful’ when Tom Brady was their QB.”  

Tom Brady: “I thought stressful was NOT having Super Bowl rings.  There was a mindset of a champion that I took to work every day.  This wasn’t daycare.  If I wanted to have fun, I’d have taken my kids to Disneyland.”


A cure for political ad overload… As we near the 2024 presidential election, the total ad spend is mind-blowing.  All kinds of records are going to be set and watching anything on television (including your favorite sports teams) is becoming brutally painful.  So, here’s a potential solution to voter apathy and the torture of political ads: (a) By Registering to Vote and Voting … (b) You get the ability to: 'Block ALL Junk & Political Ads’.  That will reduce the ad spend, and have 99% voter registration overnight.


Global liquidity is rising, and so will asset prices…  Cheap capital is coming fast and furious, and global liquidity is in a cyclical uptick period.  As rates continue to decline, investors won’t be able to help themselves, and borrowing & investing will accelerate.  We will also see: fiat currency devaluations, eroding purchasing power, and a return to inflated asset prices.


“For me, it was never about the money.  I thought if I could make people happy, then they would like me.  And if they like me, I’ll feel good about myself.  And all I can say about that is: ‘Thank God for the money’.” … Ellen DeGeneres: For Your Approval.


The Market:


“I’ll buy THAT for a dollar” …  This week (for a buck) you could have bought: (a) a small fry at McDonald’s, (b) a Big Gulp at 7-Eleven, and (c) a satellite TV company with nearly 9m subscribers – as DirectTV is acquiring Dish Network for $1.


China’s main issue…  is that their property prices are declining, and it’s hurting consumer psychology.  The Chinese consumer is saving 30% of their income, and there’s double-digit youth unemployment.  In terms of Chinese stocks, I would rather not buy into a parabola created by momentum monkeys.  The momentum bet has less than a week or two left in the tank, and then China will pull back.  Tip #1: Invest AFTER you see the PR piece on how China’s stimulus isn’t enough or must be backed by stronger fiscal supports.


In Q3, the Equal-weighted S&P crushed the Market-Cap weighted index.  When this occurs, it signals: 

  1. Small and Medium-sized companies are doing well relative to large ones.  
  2. Investors are rotating out of the dominant growth names. 
  3. And optimism exists for different market sectors (outside of tech).

[ Gain free access to Bullseye Trading here… ]


InfoBits:


  • Tesla’s Elon Musk will reveal a Cybercab prototype this wek…  and share the latest advancements in Tesla's full self-driving technology.  Musk has said that Tesla will be ready to launch its robotaxi service in 2025.
  • Harvard students hacked Meta's new AI-powered smart glasses to instantly reveal ALL of someone’s personal information simply by looking at their face.
  • Older adults that can cope with life’s difficult circumstances…  have a lower risk of death.  When measuring qualities like: a sense of purpose, calmness, perseverance, self-reliance, and the recognition that certain experiences must be faced alone, those who scored higher – had a significantly lower (-38%) risk of dying. 
  • Jenson Huang (Nvidia CEO) said: “It will be impossible to win the AI race without nuclear power.”
  • Flippin’ the switch one reactor at a time.  Nuclear-tech company Holtec secured a $1.5B loan from the DOE to restart Michigan’s Palisades nuclear plant.  
  • Boeing is contemplating a $10B stock sale due to its on-going strike.  
  • The U.S. quit rate fell to its lowest level since June 2020…  as the hiring rate also slumped to its lowest level since 2013 (excluding the pandemic).
  • U.S. new-car sales fell about 2% last quarter…  as consumers balked at high prices.
  • Hurricane Helene hit the town of Spruce Pines hard …  forcing the town that mines most of the world’s quartz (needed for chip-making) – to shut down.  
  • Apple will use its upcoming iPhone SE 4 … as the guinea pig for its new internally developed 5G modem.  It’s trying to move away from its current Qualcomm-made modems.  The 5G modem will also offer Wi-Fi and Bluetooth – allowing Apple to replace Broadcom’s chips as well.
  • OpenAI:
    • Raised the largest round ($6.6B) ever…  at a $157B valuation.
    • Could lose ~$5B this year …  largely due to computing costs associated with training and operating large language models.
    • Told its employees that…  they will soon be allowed to sell some of their equity at the company's latest valuation.  [So, let’s all say goodbye to the remaining OpenAI employees!] 

Crypto-Bytes:

    • Bitcoin’s Up-tober…  In October, Bitcoin has gone up ~71% of the time, with an overall October performance of +21%.
    • HBO is set to release "Money Electric: The Bitcoin Mystery" … claiming to reveal who Satoshi Nakamoto really is. 
    • Someone dropped ~$56m on a CryptoPunk … which makes it one of the biggest NFT transactions ever – and one of the biggest in over 2 years.
    • Stablecoins are now 43% of crypto transactions in Sub-Saharan Africa … as local currencies continue to devalue.  Nigeria and Ethiopia are experiencing massive growth in stablecoin usage due to its financial stability.  Institutions prefer stablecoins over Bitcoin due to better liquidity and reduced volatility.
    • Our national debt is growing astronomically…  while our FED cuts interest rates.  Bitcoiners are withdrawing their coins into self-custody.  Republicans and Democrats are finding common ground with a decentralized, supply constrained, monetary asset.  This all seems bullish to me.

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


Monday:  Our FED seems hell bent on not letting things implode: the money spigots are wide open, more rate cuts are coming, QE is upon us, and the AI bubble continues to inflate.  Tip #2: Fair Warning: Warren Buffet has sold $131B worth of stock since 2022.  He knows that this bull market will stop, a bear market will come, and he would like to be in a better position to buy. 


Friday: The dockworkers strike has been put off until January, and in terms of Friday’s JOBS Report:

    1. Estimates were for 150,000 jobs created in September, 
    2. our BLS said we created 254,000 jobs, 
    3. August’s hiring was revised higher, 
    4. and the unemployment rate ticked down a bit.  

I have mixed feelings about a JOBS number this Goldilocksy large.   

Morgan’s Moments…  


Meta ain’t talkin’…  about whether it’s using the images taken by its AI-powered Ray-Ban smart glasses (with their built-in discreet camera) to train its AI models.  This raises huge privacy concerns, as it comes after Meta admitted that, since 2007, it’s been using all public US Instagram and Facebook posts to train its AI models.  History at least rhymes – which means that the Zuck is going to claim ‘publicly available data’ with the images taken by its Ray-Ban glasses.  [Darn, just when I was beginning to like the Zuck.]


On Tuesday, for the first time since 1977…  over 45,000 U.S. dockworkers went on strike from Maine to Texas.  Then on Friday the strike was officially postponed until January, 2025.  70% of Americans support labor unions, and that’s just 1% shy of the highest approval rating since 1965.  The 2 major dock worker requests: a 70% wage increase and a ban on port-automation technology.  [I can’t comment on the economics, but the technology ban hinders innovation.]


Next Week: Markets are worried…


Bkgd:

    1. We have uneasy financial conditions.
    2. Resistance levels remain in place.
    3. Tip #3: Risk == U.S. tech stocks (goldilocks & policy perfection), and the U.S. dollar (China stimulus).
    4. Tip #4: Rotate into: commodities, emerging markets, and small caps. 

    Overall, equity valuations, sentiment, and allocations are elevated.  It’s a positive sign that the market has done this well thus far.  I’m concentrating on risk management and sector rotation.


S&P Movements are muted…  because markets are ‘floating’ rather than ‘trading’.  We ended the week as close to where we started as possible.  We are still inside an 80-point S&P range that extends from 5740 to 5820.  


Sector Movements are large…  as bonds have tanked and corresponding 10-year interest rates have gone from 3.6% to 4% in 2-weeks.  That means that rates are moving exactly opposite the direction our FED had intended with its rate-cutting cycle.  Markets tagged Friday’s incredibly large JOBS number as inflationary, and are back to fighting inflation on their own terms – by raising market interest rates.    


The Dollar, Yen, and Gold…  It seems that the Japanese have backed off their raising rate stance, so the Yen is back to falling, and the Japanese Carry-Trade is back-on.  With the Yen’s fall comes a U.S. Dollar rebound higher.  Tip #5:  It’s scary when you see the U.S. Dollar explode higher and you do NOT see gold move lower.  That’s when you realize how wildly inflationary current global monetary policy is.


Earnings season…  is upon us, and with the 10-year flying high – banks are moving higher.  This week the energy sector also moved 2-standard deviations higher – mostly due to geo-political risk.  Meta moved higher (outside its expected move), while Apple, Microsoft, Tesla, and Amazon were all lower.  


Gamma will expand…  The longer you remain inside of a range, the more open interest (gamma) you will accumulate – making the velocity of the breakout/breakdown that much more intense.   


The Binary Outcome…. The instant this large ball of risk decides to breakdown or breakout of this range – then the entire market weight will move with it.  Until that time, volatility (VIX and VVIX) and skew (SKEW) are not backing down.  


SPX Expected Move (EM):

    • Last Week’s EM = $99 and we moved all of $5.
    • Next Week’s EM = $100.  Volatility is not backing down.  There is a ton of risk in this market right now – just waiting to be directionally resolved.  
    • Tip #6:  If you are wildly bullish or bearish – please trade using ‘defined risk’ strategies!

TIPS:


I continue to raise cash, and invest more defensively.  


HODL’s: (Hold-On for Dear Life)

    • 13 to 17-Week Treasuries @ 4.75%
    • Physical Commodities = Gold @ $2,673/oz. & Silver @ $32.4/oz.
    • **Bitcoin (BTC = $61,900 / in at $4,310)
    • **Ethereum (ETH = 2,400 / in at $310)
    • HROW – Harrow Health = $50.3 / in at $12 
    • INDA – India ETF ($57.1 / in at $50)
    • BRK/B – Berkshire = ($462 / in at $439)
    • **IBIT – Blackrock’s Spot Bitcoin ETF ($35.5 / in at $24)

Options to Reduce Risk:

    • Materials / Utilities: Long Call Verticals…
    • XLU – Utilities: Jan ’25: $85 / $89 CALL-Sp.
    • WEC – Wisconsin Power: Jan ’25: +$100 / -$105 CALL-Sp.
    • SVM Jan. ’25: +$5 Calls

Options as Hedges:

    • SPY – S&Ps: Jan ’25: +$520 / -$500 PUT-Sp.
    • SPY – S&Ps: Jan ’25: +$500 PUTs
    • GLD – Gold ETF: Jan ‘25: +$255 / -$260 CALL-Sp.

Options for Income:

    • **RIOT – Riot Bitcoin Mining
    • Bi-Weekly: 
    • BUY Puts 1 Std. Dev. OTM for protection
    • SELL Calls ½ Std. Dev. OTM for income

** 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

Sunday, September 29, 2024

This Week in Barrons: 9.29.2024

There is always room for someone…  who knows their way around an industry, a technology, and/or is a problem-solver.  The hard part isn’t finding people who value those offerings, but rather earning and maintaining that badge-of-courage.  As long as there are people and/or organizations who are lost – we will always need guides.


When organizations grow…  they hire for specific tasks and the skill-sets that go with them.  But when the world changes, organizations are suddenly filled with people who were hired for yesterday’s specific skill sets.  Per Seth G: What if we just hired problem solvers who were hungry to learn and embraced change?


Over 60% of all companies fired a recent college grad – because:

  1. They felt overly entitled.  
  2. They were offended too easily / didn’t respond well to feedback.  
  3. They lacked a strong work ethic, and regularly showed-up unprepared having done no homework.

The Market:


Rep. Tom Emmer’s Q&A for the SEC’s Gary Gensler…  called out Gensler for breaking the law and lying to the courts.  Emmer accused Gensler of:

  1. Abusing his enforcement powers, baiting companies into compliance, and retaliating against those who didn’t by forcing them to appear before Congress.
  2. Charging crypto-companies with: Crypto Asset Security – a phrase that doesn’t exist in any statute – and then quietly having his lawyers retract the charge in court.
  3. ‘Gary Gensler set our SEC back decades, and his leadership and guidance are continually destructive and lawless.’ 


China jump-started its economy by:

  1. Cutting Short-Term Interest Rates == providing immediate monetary relief.
  2. Reducing Reserve Requirements to 2018 levels – freeing up more money for lending. 
  3. Providing Property Support that includes lowering borrowing costs on $5.3T in mortgages, and easing rules for second-home purchases.
  4. Injecting an Equity Market Boost of 800B yuan, and formed a market stabilization fund to support their struggling stock market.

InfoBits:

  • Microsoft signed a deal with Constellation Energy…  to use 100% of the power generated from 3-Mile Island Unit 1 nuclear power plant - to power its AI data centers.  The project will create over 3,400 jobs, generate over $3B in taxes, and be active in 2028.
  • Hollywood unemployment hit 12.5%…  triple the national average.  
    • The number of original shows declined by the fastest rate on record.  
    • Studio mergers are eliminating many content buys.
    • And streamers are focused on buying live-sporting events.
  • Intel received a takeover bid from Qualcomm…  that would be the world’s largest transaction in the chip market.
  • 14 large banks and other major financial institutions… announced that they’re going to support the nuclear power industry. 
  • A looming dockworkers’ strike at 36 ports  could shut down trade hubs that account for 60% of US shipping traffic.  If port workers don’t reach a deal by next week, 45,000 members of the Longshoremen’s Union could stage a walkout.
  • John Cena and Dame Judi Dench are taking on Siri…  as they struck a deal to lend their voices to Meta’s AI chatbot.
  • Apple and Meta will not sign…  the European Union's AI safety pledge.  This is despite the agreement supported by 115 other companies including OpenAI, Google, and Microsoft.
  • The DOJ is suing VISA for monopolistic practices…  including trying to crush competitors like PayPal and Square.
  • Real Estate listings are on the rise…  (up +36% YoY), but still down -26% from pre-pandemic levels.  The best states to buy a home are: Florida, Idaho, Tennessee, and Texas – with Colorado, Washington, Utah, and Arizona close behind.

    Crypto-Bytes:

      • 83% of the time…  Bitcoin moves in the direction of the global money supply, and recently the printing-presses have been re-started.  As capital gets cheaper and more plentiful – people invest in financial assets.
      • Bitcoin has been the winning asset since our FED’s 50bps rate cut…  with Gold coming in second place.  It's not just a risk-on impulse following the Fed's cut – it’s a repricing of upside growth and inflation.
      • The SEC approved the listing of Bitcoin ETF options…  on BlackRock’s IBIT.  You’ll get more bang for your buck, and more ways to continue hodling your crypto.
      • Telegram has agreed to supply IP addresses and phone numbers…  of users in response to "valid legal requests."
      • A GameStop customer found a redemption code for one bitcoin… worth ~$65k in a $30 crypto-themed trading-card pack.
      • Caroline Ellison was sentenced to 2 years in prison…  for her involvement in FTX scandal.  She also must forfeit her $11B payday. 
      • OpenAI is rolling out their Advanced Voice Mode (AVM)…  featuring new voices and improved functionality to make AI interactions feel more natural and personalized.

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

      • I took some time off last week, but back in the saddle this week.

    Morgan’s Moments…  

      • Don’t bet against The Zuck…  Mark Zuckerberg (Meta’s CEO) showed off their latest pair of AR-glasses that seamlessly link to Meta’s Llama 3.2 AI language that understands both images and text.  Meta also provides for the automatic dubbing of Reels into other languages – preserving the creator's voice and syncing lip movements to match the new audio.  This unique combination of AI features should help creators reach broader audiences and create content more efficiently.  Meta’s new open-source models + the most advanced AR glasses == ~500m monthly active AI users that are receiving AI Voice chats directly onto their favorite platforms.  Meta is proving again why you: ‘Don’t bet against The Zuck’.
      • OpenAI takes a sabbatical…  Mira Murati (OpenAI’s CTO) resigned last week because she’d like ‘more time and space for her own exploration’.  Then Bob McGrew (Chief Research Officer) and Barret Zoph (Open AI’s VP of Research) also left the company – just hours after Mira.  On a separate note, Sam Altman (OpenAI’s CEO) will soon receive a chunk of equity in the newly restructured company worth ~$150B – as OpenAI moves away from being a non-profit.

    Next Week: Buckle-Up … Volatility’s back ...


    Bkgd: (a) Volatility’s rising due to seasonality and the election.  (b) The PROS are hiding in their hedges – prepping for larger moves.  (c) October volatility is out-pacing November for the first time in years – making the first 3 weeks in October time to buckle-up.  (d) With Walmart up +50% and utilities up +25%, defensive sectors are the ones catching-a-bid.  The retail trader is ~60% invested in equities == an all-time-high. 

      • Tip #1 == Time to Raise some Cash – especially inside the Mag-7

    Helmets On – VIX & VVIX:  Last week the S&Ps and the QQQ’s were mildly higher, the Financials (XLF) were flat, and Energy (XLE) was at the bottom of its expected move.  Oil is falling on demand destruction forecasts.  The VVIX (the Volatility of the VIX) is moving higher as ~1m VIX options were traded on Friday alone.  


    We are in Backwardation – the RISK is NOW:  Volatility is the story of the week.    October volatility (19 days out) is ~18.9, and November volatility (54 days out) is ~18.30.  Which means market risk is greater over the next 19 days that it is over the next 54 days due to: (a) Election and Seasonal uncertainly, (b) the start of Earnings season, and (c) the upcoming Economic data-drops.  


    Due to High Volatility… markets are broadening and defensive trading is increasing.  It’s as if the entire world (since July) has decided to invest in Utilities (XLU +25% YTD) and in Walmart (WMT +50% YTD).  


    Over the next 3 months, I like:

      • Tip #2:  Basic Materials: (a) DD – Dupont: Jan ’25: +$100 / -$105U CALL-Sp., (b) DOW – DOW Inc: Jan ’25: +$57.5 / -$60 CALL-Sp., and (c) SVM – Silver Miner: Jan ’25 +$5 Calls.
      • Tip #3: Utilities: (a) XLU – Utilities: Jan ’25: $85 / $89 CALL-Sp., and (b) WEC – Wisconsin Power: Jan ’25: +$100 / -$105 CALL-Sp.
      • Tip #4: China: (a) JD – JD.COM: Jan ’25: +$50 / -$55 CALL-Sp., and (b) BABA – Alibaba: Jan ’25: +$130 / -$140 CALL-Sp.

    SPX Expected Move (EM):

      • Last Week’s $75EM … and we barely moved $30.
      • Next Week’s $96EM … a 25% increase due to more economic data to digest.

    TIPS:


    I separated some of my investments into:

      • HODL’s that are on somewhat cruise-control, 
      • Risk Reduction Option plays,
      • Hedging Option plays, and 
      • Income Generation Option plays - due to their high-volatility.

    HODL’s: (Hold-On for Dear Life)

      • 13 to 17-Week Treasuries @ 4.75%
      • Physical Commodities = Gold @ $2,676/oz. & Silver @ $32.5/oz.
      • **Bitcoin (BTC = $65,700 / in at $4,310)
      • **Ethereum (ETH = 2,650 / in at $310)
      • HROW – Harrow Health = $44.2 / in at $12 
      • INDA – India ETF ($59.2 / in at $50)
      • BRK/B – Berkshire = ($456 / in at $439)
      • **IBIT – Blackrock’s Spot Bitcoin ETF ($37.3 / in at $24)

    Options to Reduce Risk:

      • Materials / Utilities: Long Call Verticals…
      • o DD – Dupont: Jan ’25: +$100 / -$105 CALL-Sp.
      • o DOW – DOW Inc: Jan ’25: +$57.5 / -$60 CALL-Sp.
      • o XLU – Utilities: Jan ’25: $85 / $89 CALL-Sp.
      • o WEC – Wisconsin Power: Jan ’25: +$100 / -$105 CALL-Sp.
      • o SVM Jan. ’25: +$5 Calls: (   / in at $0.30)
      • China – Long Call Verticals… 
      • o JD – JD.COM: Jan ’25: +$50 / -$55 CALL-Sp.
      • o BABA – Alibaba: Jan ’25: +$130 / -$140 CALL-Sp.


    Options as Hedges:

      • TLT – Bonds: Jan ’25: +$105 / -$110 CALL-Sp.
      • TLT – Bonds: Feb ’25: +$110 / -$120 CALL-Sp.
      • SPY – S&Ps: Jan ’25: +$520 / -$500 PUT-Sp.
      • SPY – S&Ps: Jan ’25: +$500 PUT
      • GLD – Gold ETF: Jan ‘25: +$255 / -$260 CALL-Sp.


    Options for Income:

      • **MARA – Marathon Digital = ($17.5 / in at $12) 
      • o Bi-Weekly: 
      • o BUY Puts 1 Std. Dev. OTM for protection
      • o SELL Calls ½ Std. Dev. OTM for income
      • **RIOT – Riot Bitcoin Mining ($7.8 / in at $12.5)
      • o Bi-Weekly: 
      • o BUY Puts 1 Std. Dev. OTM for protection
      • o SELL Calls ½ Std. Dev. OTM for income


    ** 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