From Joe
You Can't Afford to Miss Out on This Bear Market
Money is made during bull markets, but fortunes are made during bear markets.
Bear markets are rare. But when they happen, assets are cheap for a small window of time. This happens because of a few reasons. One, investors sell because they fear prices going down further. Two, investors are forced to sell because they need cash.
In this course I will teach you how to take advantage of this rare opportunity and buy world-class assets at fantastic prices. By the end of this course you will be able to identify bear market bottoms, filter out the great companies from the garbage, know exactly what you should pay for these businesses, and much more.
Don't miss out on on this rare opportunity. Sign up now and start building your bear market fortune today.
News
The Problems with DeFi & Crypto
In the wake of the FTX/Alameda collapse, which came after prior collapses of Luna, Celsius, Voyager, and Three Arrows Capital, many crypto industry analysts have pointed towards DeFi (“Decentralized Finance”) as a potential solution. This article dissects some of the nuances of that view, grants that certain opportunities exist, but offers a rather critical assessment of the current state of the industry overall. Additionally, this article touches on other cryptocurrency industry concepts including Web3, NFTs, tokenized securities, and the broader problem of creating coins that serve no purpose other than to enrich the founders.
St. Louis Fed’s Bullard Presents “The Prospects for Disinflation in 2023”
Federal Reserve Bank of St. Louis President James Bullard presented “The Prospects for Disinflation in 2023” (PDF) on Thursday at an event hosted by CFA Society St. Louis. Bullard noted that GDP growth appears to have improved in the second half of 2022 and the labor market performance remains strong. Inflation remains too high but has declined recently, he added. While the policy rate is not yet in a zone that may be considered sufficiently restrictive, it is getting closer, Bullard said. In addition, front-loaded Fed policy has helped market-based measures of inflation expectations return to relatively low levels, he continued. “These factors may combine to make 2023 a disinflationary year,” Bullard said.*
Central Bank Losses Make Them Buy Record Amounts of Gold
In 2022, central banks will have purchased the largest amount of gold in recent history. According to the World Gold Council, central bank purchases of gold have reached a level not seen since 1967. The world’s central banks bought 673 metric tons in the first three quarters of 2022, and in the third quarter, the figure was almost 400 metric tons. This is interesting because the flow from central banks since 2020 had been eminently net sales. Why are global central banks adding gold to their reserves? There may be different factors. Most central banks’ largest percentage of reserves are U.S. dollars, which usually come in the form of U.S. Treasury bonds. It would make sense for some of the central banks, especially China’s, to decide to depend less on the dollar.
Ranked: The World’s Wealthiest Cities, by Number of Millionaires
How many millionaires, centimillionaires, and billionaires live in the world’s wealthiest cities? While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the world’s wealthiest cities in perspective. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the world’s wealthiest cities. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world.