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.

Markets Sold Off Thanks to PowellFed Chair said that the economy is stronger than expected so the Fed may need to keep rates higher for longer.

• “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell said.

• The 2 year yield went to 5%, the highest since 2007, and inverted the 2-10 yield curve. The steepest it's been since 1981. Yield curve inversions and recessions are highly correlated. Make of that what you'd like.

Paxos Customer Retail Survey - People Still Want It

• 72%: little to no concern about recent fluctuations

• 57%: plan to buy more or do nothing as result of FTX collapse

• 89%: continue to trust banks, crypto exchanges, mobile payment apps to hold their assets

• 75%: likely/very likely to buy crypto from primary bank if offered

Do you agree or disagree? Reply to this email and let me know.

2x More Jobs than PeopleNew jobs data out yesterday by the BLS (Buraeu of Labor Statistics) showed that job openings decreased by 10.8 million and now the number of available positions exceeds to number of people looking for jobs by 2 times.

American's Savings Are Running Down39% of American adults said they have less savings now than a year ago. The reason? Inflation and taking on more debt. Consumer credit card debt levels are at all time highs ($986 billion) and 36% say they have more credit card debt than savings.

More Large Companies Hiring Freelancers50% of companies have hired freelancers, or gig workers and 80% plan to hire more. Gig workers allow the company to be more flexible and decrease their costs.

Make Money Now IdeaFreelance work: Offer your skills and services to clients through freelance websites such as Upwork, Fiverr, or Freelancer.

Be a Better Investor

Investor Spotlight - Before Buffett, there was Graham

Benjamin Graham is known as the "father of value investing" and is considered one of the most influential investors in history. His investment thesis centers around the idea that the market is not always efficient and that investors can find undervalued stocks that are trading below their intrinsic value.

(Here's a picture of Ben Graham, who used to play for the NY Jets. Not the same guy.)

Graham's investment philosophy involves identifying companies that are trading below their intrinsic value, which he referred to as "margin of safety." He believed that this margin of safety protected investors from significant losses in case the company's performance turned out to be worse than expected.

Graham also advocated for a disciplined approach to investing, focusing on fundamentals such as earnings, dividends, and assets rather than relying on market trends and momentum. He also stressed the importance of diversification, advising investors to spread their investments across a variety of industries and companies to reduce their overall risk.

Graham's investment thesis was heavily influenced by his experience during the Great Depression when he saw firsthand the devastating effects of market speculation and irrational exuberance. He believed that a disciplined approach to investing based on fundamental analysis could help investors avoid the pitfalls of speculation and build long-term wealth.

Overall, Graham's investment thesis can be summarized as follows:

1. Identify companies that are trading below their intrinsic value, with a margin of safety to protect against significant losses.

2. Focus on fundamentals such as earnings, dividends, and assets rather than relying on market trends and momentum.

3. Diversify investments across a variety of industries and companies to reduce overall risk.

4. Take a disciplined, long-term approach to investing based on fundamental analysis rather than speculation or market timing.

So how was this daily newsletter? Please reply to this email and let me know! 

Thanks for reading,

Trajan King