🛑 Someone stop GameStop

and invest in gold

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Morning Download 

Personal finance + economics + markets


Good morning investors! AI is still having a major impact. News concerning AI sent Google, AMD, and some other stocks higher yesterday.

Today we cover:

  • Time to invest in gold?

  • Say goodbye to GameStop.

  • Why owning is better than renting.

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🔈 Audio version: Apple Podcasts | Spotify | YouTube

📊 Economy and News 

Gold to be the go-to asset in 2024?

Gold prices have had a successful 2023 and are at a record high. The yellow metal broke through $2,100 per ounce on Monday and is now hovering over $2,000.

Geopolitical tensions and continued central bank buying are reasons the shiny metal is high and this will continue in 2024, according to experts.

Energy and consumer companies blamed for inflation

New research argues that companies maintaining margins by passing on higher prices to consumers is one of the major contributing factors to inflation. However, experts said that corporate profits are not the sole cause of inflation, but big international energy and food firms have an outsized influence on the wider economy.

All eyes on today’s job market

The Labor Department is set to report on jobs today. Analysts see nonfarm payrolls expanding by 190,000 last month, up from 150,000 in October. Investors are keeping an eye on data, including wages, which indicates if the Fed may choose another hike.

A hot jobs report could put a damper on what has been a buoyant mood on Wall Street.

Global hits:

📈 Stocks

S&P 500 4,585.59 (+0.80%)
DJIA 36,117.38 (+0.17%)
NASDAQ 16,022.49 (+1.48%)
BRENT CRUDE 75.35 (+1.78%)
* Prices as of Dec 8th, 12:20 AM UTCa

Time to stop GameStop?

GameStop made some people money but it is finally time to treat it like a hot potato – one that shouldn’t be touched.

Stop It Jersey Shore GIF by Jersey Shore Family Vacation

Gif by jerseyshore on Giphy

This meme stock is taking a 360 turn with plans to now be a ‘stock picker’. Many are calling this decision a ‘stock’ killer but GameStop shareholders seem just fine with the plan. Shares of GameStop rose 10% in yesterday’s trading session.

What does it mean? It means that CEO and Chairman Ryan Cohen will now have the power to use company cash to buy other stocks.

The company has a $900 million cash pile that the CEO will now use to bet on other stocks.

The company posted a loss of about $3 million for the latest quarter on revenue of just over $1 billion.

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🔐 Crypto

Bitcoin $43,520 (-0.02%)
Ethereum $2,370 (-0.1%)
Total market cap $1.61T (+1.14%)
* Prices as of Dec 8th, 12:20 AM UTC

All about crypto

Here’s what’s happening in the crypto world:

💵 Personal Finance

Why buying is better than renting

Yesterday, we talked about the benefits of renting over owning. However, we’re not writing ownership out because it offers some exciting benefits and real estate should always be a part of your portfolio.

So, why should you own property? Here are some reasons:

  • It builds wealth. When you buy a home, you invest in an asset that may appreciate over time. Look at how home prices have exploded in the last few years. A house that cost $250,000 in 2018 now costs $350,000. This is a difference of $100,000, i.e.: a growth of 40% in five years. Your profit will go only higher when you add rental income to it.

  • Owning a house offers stability. With a fixed-rate mortgage, your monthly payments remain consistent, allowing for better long-term financial planning. On the other hand, your rent can go up with a warning.

  • There are tax benefits. Plus, you might be eligible for lower rates if it’s your first home. Deductions on home loan interest and principal repayments under sections 24(b) and 80C of the Income Tax Act, respectively, can reduce the tax burden and increase overall savings.

  • Unlike rented properties, homeowners enjoy the freedom to customize and renovate as per their taste and needs. Thus, owning a house offers more exciting opportunities.

  • Homeownership offers the possibility of earning rental income. You can rent out everything from the entire crib to the garage to just the backyard.

At the end of the day, renting or buying is a personal choice. Experts seem divided. We think renting can help save money (in some situations) but no serious investor will have a portfolio without real estate.

Watch this video for more:

💰 Be a Better Investor

“Generally, the greater the stigma or revulsion, the better the bargain.”

Seth Klarman

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