📱 New Apple event

and expensive homes

Good morning investors! Market took a turn yesterday after holding well for most of the day.

Fun fact: Don't let the name S&P 500 fool you, the index tracks more than 500 stocks. It has 505 stocks in it instead of 500 because it includes multiple classes of shares of some of its constituent companies. For example, Alphabet Class C (GOOG) and Alphabet Class A (GOOGL) stock are both included in the S&P 500 index.

Today we cover:

  • Homes keep on getting more expensive.

  • A bit about India.

  • New Apple event.

Follow us on Twitter for more.

🔈 Audio version: Apple Podcasts | Spotify | YouTube. |  Discord

📊 Economy and News 

Homes just got more expensive

US home prices reached a fresh high in January after rising at the fastest clip in months.

The S&P CoreLogic Case-Shiller US National Home Price index rose 6% in January from a year before, accelerating from a 5.6% annual increase in December. It’s the highest annual increase since late 2022.

Rent instead? A report released Tuesday showed that it’s actually more affordable to rent than to buy in America’s biggest cities.

The report found that monthly rent was cheaper than shelling out for a mortgage payment in the 50 largest US cities.

In February, the cost of buying a starter home in those cities was $1,027, higher than the cost of renting one. That’s up from a difference of $865 in February 2023.

Austin, Texas; Seattle; Phoenix; San Francisco; and Los Angeles were the top five metros with the largest rent versus buy savings.

Why? It’s due to shortage and rates that still remaining high.

Global hits:

Bit about India 🇮🇳: Mumbai has now surpassed all other Asian cities with the highest number of billionaires in the region, boasting 92 billionaires. Following closely are Beijing with 91 and Shanghai with 87 billionaires. This marks the first instance of India's most populous city claiming the top spot in Asia.

The country is expected to get a major boost as Indian bonds are set to be added to global indexes. Goldman Sachs said it expects India’s bond markets to see inflows “upwards of $40 billion from the time of announcement to the end of the scale-in period, or around $2 billion per month.”

Lastly, BlackRock’s Larry Fink thinks that despite being one of gold's biggest markets, India hasn't been able to benefit from it.

Also check: The United States risks a bond market crisis of the kind that engulfed the United Kingdom 18 months ago, sending yields soaring and sparking a run on the pound, according to Congress’s independent fiscal watchdog.

📈 Stocks

S&P 500 5,203.58 (-0.28%)
DJIA 39,282.33 (-0.080%)
NASDAQ 18,210.54 (-0.36%)
BRENT CRUDE 85.43 (-0.96%)
* Prices as of Mar 27th, 12:20 AM UTC

Big Apple event is coming

Apple on Tuesday announced that its annual developers conference, WWDC, will take place June 10 through June 14.

The event is big as the company typically reveals the latest versions of its devices, including iPad, iPhone, Mac and Apple TV software at WWDC via a “keynote” video on the first day.

This year’s event is even more special as experts think Apple will use it to reveal its long-awaited AI strategy and consumer features.

Murmurs have been there for a while after Cook discussed Apple’s AI movement in February suggesting the company was “investing significantly” in AI and teased an AI-related announcement “later this year” that many analysts believe will come at the Worldwide Developers Conference.

We also expect the first major software update to the Vision Pro at this year’s

The conference will be broadcast live on Apple's website, although the company is extending invitations to certain software developers to join them at their campus on the inaugural day for an "in-person celebration."

"Good to know: Visa and Mastercard have agreed to $30 billion settlement that will lower merchant fees. Plus, FDA has approved Merck’s drug for rare, deadly lung condition and Viking Therapeutics is inching closer to introducing weight loss pills. Lastly, McDonald’s will sell Krispy Kreme doughnuts nationwide by the end of 2026.

Warning: Fed officials are now considering fewer rate cuts this year and some believe that America’s largest companies are fueling inequality.

💵 Personal Finance

Patience is an investing virtue

Episode 18 Patience GIF by Law & Order

Gif by nbclawandorder on Giphy

Investors who are patient and not emotional have the best returns. However, it’s not easy being patient, which is why so many people trade. It’s exciting but 95% of day traders lose money.

Sound investing is as exciting as watching paint dry, so here are 2 tips for how to be a more patient investor:

  • Focus on the long term. The stock market is volatile in the short term, but it has historically trended upwards over the long term. If you focus on the long term, you're less likely to be discouraged by short-term fluctuations.

  • Don't check your investments too often. It's tempting to check your investments every day, but this can lead to anxiety and impulsive decision-making. Instead, set a schedule for checking your investments, such as once a month or once a quarter.

To help you with this, here are some numbers:

  • Wait five yers before selling a house: Five years is the average time it takes to recoup all the costs involved with buying a property and allow you the opportunity to profit. This, however, might not apply in some cases, i.e.: when you’re a flipper able to get houses at a cheaper rate and selling after performing renovations.

  • Keep stocks for at least 2 years: If you are serious about making money then consider keeping stocks for even longer. The best option is to set a price target and sell stocks only when you reach your target or when you are sure the price will move in the opposite direction.

The brain makes it hard to be patient. Most investors aren't patient. We want it quick but if you want to be a successful investor then you will need to learn to be patient.

💰 Be a Better Investor

“Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas."

Warren Buffet

What did you think of today's newsletter?

Login or Subscribe to participate in polls.

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

Join the conversation

or to participate.