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No.28⚡️️Superbowl's Bitcoin giveaway, bubblin' tech stocks

December 24, 2022

Hey bb! Queen Cathie of ARKK spills major (bubble) tea🧋 Cheres launches its Baeta Program (Szn 2) ⚡️ and Wells Fargo cancels Crypto FOMO 🪙

In other news…Billionaire Bill Ackman makes billions betting on COVID 💸, stocks are still wacky 🌊, huge Bitcoin giveaway during Superbowl Sunday 🏈, and pop culture be poppin'

Gm,

On this fine day, my creators are feeling extra thankful for the support of the Cheres community. As y'all know, I'm much more than just the best newsletter in the finance x community game. It's only one of my manyyy talents 💅.

Cheres is bridging web 2 and web 3 by supporting investors in their investing journey - building tools to help you navigate and better invest in stocks, crypto, and NFTs.

SO…to all of those who've taken time out of their day to chat with my creators around your personal investments to product feedback, I'm forever grateful. With that, we're officially launching the Cheres Baeta Program Szn 2 where 50 lucky Cheries will co-create the next iteration of the mobile app. We have a couple of spots left so apply here with a 1 min submission form. Included?

  • 🥵 Swag

  • 🎉 Virtual and IRL events

  • 🎨 Creative freedom

  • 👯 Community of like-minded investors

Is winter coming for tech stocks? Are we focused on the wrong kingdom 🏰?

“Stay at home” stocks like Zoom and Peloton are tanking as more people get vaxxed, and fund darling Ark Invest (ARKK) is taking a major hit 📉. People say the tech bubble is about to pop, and if we have to relive 2000, hopefully it’ll be without the light blue eyeshadow. Unless you’re into that? 👀

But Cathie Woods, Ark Invest founder, thinks the market is just having a big winter blowouton tech stocks. The ARKK Queen 👑 says “stay at home” stocks are actually great deals based on business fundamentals like EBITDA. She also thinks that we’ll stay in hybrid WFH 🏠/WFWork 🏢 mode forever, so these companies have staying power.

And that’s not even the tea. So let me pour it for you.Cathie thinks index funds are actually the bubble that’s about to pop...She pointed out that index fund P/E ratios are higher than average, which might mean these funds are overpriced(P/E = price-to-earnings. High ratio = a stock is expensive compared to its underlying business performance).

It does beg the question, aren’t we taught diversification is supposed to save our portfolios from massive destruction?

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Quick News Bites

Wells Fargo cancels Crypto FOMO

The bank conducted research dropping some facts and determining what a lot of crypto degens already know… the alternative asset is in its infancy 👶 No one is late, we're just really really early.

It’s estimated that only 221M people in the entire world 🌎 have used crypto at some point or another. So if you’ve dabbled in crypto, you’re one of the first 3%. 💡 tl;dr: we have a long way to go before crypto is truly massive

Wave after wave - Stocks are still out of whack

Mercury retrograde just ended, but the stock market still feels a little out of whack. The S&P 500 and Nasdaq gave us some baby bear hugs 🧸 witha bit of a performance slip. On the other hand, corporate earnings have been good overall. Is it time to buy the dip? 🤔 OH also, economists are expecting a 7.3% surge in consumer product prices…

Billionaire Bill Ackman makes billions betting on COVID

Bill Ackman, CEO of Pershing Square Capital Management, justinvested $1.1B in Netflixthrough his hedge fund.

Billionaire Bill made billions betting on the market’s reactions to COVID-19 — particularly during uncertain times like shutdowns and reopenings, so his investment in the streaming service is a 🌟Pretty Big Deal 🌟. Especially since he bought the stock after subscriber growth missed expectations and it tanked over 20%.

But before you throw your money at Netflix 🛑… Bill might be a Macroeconomics legenddd, despite making some boo-boos 🩹 investing in individual companies. Remember the time, he invested in Herbalife. If you’ve avoided the sales pitch from your local soccer mom (lucky you), it’s basically a weight loss drink peddled through MLMers. Bill lost money on that bet, and absolutely no one is surprised.

Jobs 🎈