Morning Market Download from Invincible Money

Personal finance + economics + markets

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

Chat GPT-4 Is HereIt's better than ever, which is a good thing? One of the biggest advancements is it's now able to see and respond to images, not just text. Don't worry yet, it's can't come up with original thoughts or think about the future (yet). Here's a chart showing how it's impro

Goldman Sachs Cuts EstimateThanks to the turmoil of the banking sector, Goldman cut its estimate of GDP growth from 1.5% to 1.2%. Mostly due to the anticipated tighter lending standards that are anticipated. The bank increased the chances of a recession from 25% to 35%.

However, the the Atlanta Fed's GDPNow model moved up to 3.2% yesterday thanks to an increase in consumer spending.

Fed WatchWill the Fed slow or pause on the rate hikes thanks to the recent bank failures? According to CME Group there's now a 65% chance of no hike next meeting on March 22nd.

CPI DownConsumer prices were reported to have slowed as the CPI decreased for the 8th month in a row, which may give the Fed another reason to slow rate hikes. Powell says we still have a long way to go.

Monetary PolicyDoes loose monetary policy, or "money printing" cause high interest rates? Nope. It causes inflation, which then prompts the Fed to raise interest rates to bring inflation down.

Credit Suisse Gets DeniedAfter it's largest investor, Saudi National Bank, said it wouldn't put any more money into Credit Suisse, the stock dropped 24% yesterday. It's been a rough couple of years for CS and only got worse yesterday. It's been nothing buy down for a few years now.

Late last night it was announced the bank would borrow $54 billion from Swiss National Bank to help with liquidity. Looks like they'll survive to fight another day.

Ryan Reynold's Mints MoneyMint Mobile is being sold to T-Mobile for $1.35 billion. Reynolds bought a 25% stake for $50 million, which means he'll walk away with $275 million from the sale. Read about his investment here.

Be a Better Investor

Investor Spotlight Joel Greenblatt, founder of Gotham Asset Management, is known for his approach of buying high-quality companies at a discount to their intrinsic value. He wrote the book called "The Little Book that Beat the Market."Remember this guy from "The Big Short" who invested in Michael Burry's hedge fund, Scion Capital Management? That's Joel Greenblatt (actually, the actor who played him).

Bias That Can Tank Your InvestmentsConfirmation bias: the tendency to seek out and favor information that supports one's existing beliefs and opinions.

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Thanks for reading,

Trajan King