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.

Crypto - Multicoin Capital Down 91.4%They used to be one of the darlings of crypo. So what happened? It's a tale as old as time. They didn't diversify but betting big on the Solana ecosystem and FTX (10% of their portfolio).

What can we learn? Don't get greedy, diversify and don't follow gurus. Do your own research.

Silvergate ClosesCrypto's main bank that serviced the top centralized exchanges is closing it's doors. It's an orderly closing. Nothing like FTX. Silvergate is returning all customer deposits and winding down operations. They said they're closing "in light of recent industry and regulatory developments." Great article by the Verge here.

Is This a Good Idea?

The Fed (Don't fight them)Everyone is watching the payroll numbers out tomorrow to see what the Fed will do.

BlackRock thinks rates will peak at 6%. Wall St. thinks around 5.5%. We're at 4.5% now so still some ways to go.

Make Money Now IdeaSell items online: Start selling items you no longer use on platforms like eBay, Etsy, or Amazon. 11% of Americans use storage units. There are 51,000 across the U.S. We have a lot of junk. Why not sell it and make some cash and save yourself the cost of renting a space to keep all that junk? Double win!

Be a Better Investor

Investor Spotlight Philip Fisher, author of "Common Stocks and Uncommon Profits," is known for his approach of investing in high-quality companies with strong management teams and long-term growth potential.

Commons Mistakes Investors MakeFailing to have a clear investment plan or strategy. Having a plan takes all the guesswork out of figuring out each month what you're going to do. One of the most successful plans it to just pay yourself first by having money taken out of your paycheck and put into a 401k and then after you get paid, an auto deposit into an IRA, HSA and brokerage account.

It sounds stupid simple, but it works. Are you doing it? If not, go set it up now.

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Thanks for reading,

Trajan King