Personal

• Yoga
• Golf Lesson

Markets

• S&P500 up 20%
• VGT up 19%
• Dividends/value up 11%. 3.36% yield

BTW: 5 years ago you buy

• VGT: you’re up 2.7x. $100k = $270k
• VOO: up 2x = $200k
• At 7% annualized return = double in 10 years.
• At 10% annualized return = double in 7 years.
• At 20% annualized return = double in 4 years

• Fed just cut by 0.5%. First cut since 2020. I.e. Covid.
• Current federal-funds rate is at 5.25% to 5.50%,
• Expect 0.75% of cuts in 2024. Meeting Sept 18. 2 more this year.
• 2.00% to 2.25% by year-end 2026.

So what does this mean?

• Money Market lower returns.
• Mortgage rates should come down.
• Car loans down. Good for Tesla.

Government Debt per WSJ

According to recent data, interest expense currently makes up around 13% of the US government budget, representing the third largest spending category behind Social Security and Medicare.

Demand for AI

Listen to Larry Ellison explaining the crazy demand for AI.

Netflix:

• All time high.
• I still think its recession proof!
• Seems like Q4 subscription #’s should be HUGE! WHY?
• New events: Boxing: Tyson and Jake Paul
  • The fight, which will be held over eight two-minute rounds, will now take place on November 15 at the At&T Stadium in Texas.Tyson, 58 is 30 years older than Jake.
  • Squid game: Squid Game Season 2 will premiere on Dec. 26, Most-watched series: Squid Game became Netflix's most-watched series and the most-watched program in 94 countries.
  • NFL Football x-mas. On Dec. 25, 2024, we’ll be the global home of the NFL’s two Christmas Day marquee games:

Tesla

• Tesla Semi: PepsiCo drivers love it. PepsiCo said today that their drivers who operate the company's Tesla Semi trucks have reported that, after driving the electric truck, they don't want to go back to driving a diesel truck.

Elon on All In Podcast Summit

• 15:40 on Fresh Water dumping and $140k fine.
• Inspiration.
  • Uncrewed landing to Mars in 2026
  • Crews in 2028 if successful (and if government gets out of way).

Recommendations:

• All In - Megyn Kelly
• All In - John Mearsheimer and Jeffrey Sachs. Univ of Chicago and Columbia.
• All In - Interview with Dave Portnoy
• Napoleon on Apple.