Quote of the day

My partner Charlie Munger says there is only three ways a smart person can go broke: liquor, ladies and leverage" - Warren Buffett

Winning streak Ends !

S&P 500 had its 8 day streak came to an end on Thursday after papa Powells speech reinforced the “higher for longer” interest rate narrative and his foul language. Close that f***ing door! 🤣 BUT we had a nice bounce back today to close the week higher. TSX was down 1% this week as BoC minutes showed rates could go higher (I think they’re bluffing)

Let’s recap this week !

Market watch/Earnings 💼

Berkshire, Warren Buffets company has been stacking cash since 2020 sitting on a mountain of cash, reaching a historic high of $157.2 billion.  The only stock he’s been buying is Occidental Petroleum $OXY. I wonder what company he’s eyeing on buying. 🤔

Microsoft stock closed at an all time high on Open AI hype, credit card balances hit a $1.08T record high & the CEO of Bank of America, Brian Moynihan, has stated that the research team is predicting a soft landing for the US economy.

• Uber missed Q3 analyst earnings and revenue expectations but showed strength in other areas such as gross bookings

• Datadog shares rocketed 28% after reporting strong earnings

• Disney reported EPS of $0.82 beating expectations of $0.70 Revenue of $21.2B missing expectations of $21.4B

Insider Trades

Sells by executives isn’t always a red flag, people can sell for many reasons. But people only buy for one reason. 👀

Headlines you need to know 📰

• INTEL IS IN LEAD FOR BILLIONS MORE IN GOVERNMENT FUNDING TO BUILD DEFENSE-CHIP FACILITIES

• KOREAN STOCK MARKET rallied AFTER SOUTH KOREA BANNED SHORT SELLING. 12% in one day on Monday.

• Hyundai to possibly produce the Apple Car

• Wework preparing to file for Chapter 11

• Elon Musk debuts ‘Grok’ AI bot to rival ChatGPT

• Billionaire Ken Griffin has said that investors need to be watching and investing in China.

• SpaceX Eyes $15 Billion in 2024 Sales on Starlink Strength

• $AMZN announced a new health care benefit program for Prime Members for $9 a Month (or $99 a Year)

• Facebook $META just introduced a new feature that will let Amazon $AMZN shopped buy products on Facebook and Instagram without leaving the apps

• Tesla $TSLA short interest is reportedly currently at $18.63 Billion making it the most shorted stock

• Popular video chat service Omegle shuts down

• China’s Consumer Deflation Returns as Recovery Remains Fragile

Crypto Corner

• Bitcoin broke 37,000 HODL

• Blackrock confirms that an Ethereum ETF is on the way.

• Eth broke 2000 !

• BD currently owns BTC, ETH & DOGE

Oh Canada 🇨🇦

• Some Bank of Canada Officials Believed Rates Would Need to Go Higher, Minutes Say

• Organigram jumped 19% after receiving roughly $91.3 million investment from British American Tobacco

• Cameco and Brookfield Renewable Partners acquired $7.9B nuclear power plant equipment maker Westinghouse Electric (RT)

• Toronto named the "rattiest" in the country for second year in a row ( I don’t find it that bad 😳)

• National bank cuts staff in capital services & no longer offers deposit boxes

• RBC cutting jobs in US that may climb over 1000

• Greater Toronto home sales drop 5.8 per cent in October amid high borrowing costs

• Canadian Tire looks to cut about 3% of workforce as it faces softening demand

Oakwest has purchased another $250k worth of $EQB.TO shares on the open market

• $NVEI rallies 20% after reporting strong earnings

• $Pza pizza pizza eps 0.25 v 0.26 reported ,revenue 159.5m v 163m

• $SU beat eps 1.40 v 1.52 but missed on revenue

• $TRP beat eps 0.97 v 1.00 but missed on revenue

• $MFC beat eps of 0.83 v 0.92

• $H beat eps of 0.56 v 0.59

Economics 📊

Jerome Powell left the markets sour as usual & said the same thing..as usual. Unions have secured the highest raises in decades, per Bloomberg..so should you get a unionized job? US 30-year mortgage rate plunges by most in nearly 16 months meanwhile it only gets worse in Canada with renewals coming up.

• FED'S JEROME POWELL: NOT CONFIDENT WE'VE ACHIEVED STANCE TO HIT 2% INFLATION

• POWELL: PROCESS OF GETTING INFLATION TO 2% HAS 'LONG WAY TO GO

Next week is Inflation, PPI & jobs report. CPI (inflation) comes out on Tuesday. Inflation is forecasted to come down lower than last month. Inflation cooling down is always a good sign for the markets.

BD investing Discord 👥

As you all know I have a investing & trading group on Discord. However this week i took a break from trading and went on a Royal Caribbean $RCL cruise to Florida, Bahamas, Haiti & Jamaica. I went 3/3 for trades this week. The team still made profitable trades thanks to some of the veteran traders in the group, good job ! Bdinvesting.org.

Meme Spot 🤣