"The book also challenges the myth that millionaires are all high-powered executives or entrepreneurs. The authors found that many millionaires are small business owners or self-employed individuals who have built their wealth through hard work and disciplined saving and investing."
#investing #investmentproperty #Ghana #GhanaNews #Travel #tourism #Africa #News #Corruption #Crime #Fraud #Scamming #AirQuality #Trash #Pollution #PriceGouging #Lying #FocusNewsAfrica #usa #xenophobia #diaspora
Capital Group / American Funds podcast - November 23, 2023
FED WATCH: IS INFLATION UNDER CONTROL YET?
Best quotes on long-term investing: https://joplin.mptpro.com/shares/YCRZUObr3441Zmy6i8sula
Nick's 20 Investment Epiphanies: https://joplin.mptpro.com/shares/EeefHG1ytRRddcAu1V4VmK
This is a strategy that offers opportunities for #BritishColumbia #businesses, according to #BCgovernment & #VietnamGovernment officials & business leaders who spoke at an event hosted by both governments.
Ethereum-Based Fasset Secures Operational License in Dubai for Tokenized Offerings - Source: fasset.ae
Digital asset brokerage Fasset FZE has received a Virtual Asset ... - https://cryptonews.com/news/ethereum-based-fasset-secures-operational-license-in-dubai-for-tokenized-offerings.htm #altcoinnews #regulation #investing #trading #dubai #vara #web3 #uae
What a powerful ad! 🛢️💀 Sad that we need it. I'm doing my bit my putting monthly money into my https://grunfin.com managed green portfolio + green pension plan in Estonia.
PS. If you want €20 to get going on Grünfin then use https://app.grunfin.com/referral/y44EQuV3 to sign up (need to be 🇪🇺 EU citizen)
They all wanted the markets to crash so they could reinvest at a predictable bottom market. The hedge funds and short sellers are now big losers and the crash they have been promoting for three years, never happened.
#Republicans got steamrolled AND missed the bottom.
1/3 Warren Buffett and his now deceased partner Charlie Munger were crooks. They used market dominance, monopolies, and rigged markets to make themselves into American plutocrats.
#plutocracy #oligarchy #Markets #capitalism #investing #Omaha #corruption https://www.thenation.com/article/archive/special-investigation-the-dirty-secret-behind-warren-buffetts-billions/
RIP Charlie Munger. He seemed to have lived a good life. Still it's hard for his family and friends no doubt.
Birkshire Hathaway. Warren Buffett. Charlie Munger. 8 billion + of us, one monkey with a typewriter produces Shakespeare?
You can beat the index funds in a risk adjusted way long term. Humble beginnings, family connections, more capital that then builds to special deals (eg 08) and political favours.
What's the point of a #NeighborhoodBattery ? [view #ClimateSolutions 002 #Neighborhood Battery.]
1st of all: electrify in stead of carbonate. 😜
2nd: reduction of the strain on the general grid (less need of grid expantion)
also #ScaleReduction of the grid. We've become dependent of, and 've gotten used to, monopolized energy producers. Large scale production using fossil fuels. Things have changed, nowadays consumers have become producers using solar. Scale reduction means independency.
Let me be clear: We still need the grid in case of shortages or emergencies. We need to get used to hybrid energy or multi grid energy.
What is needed for a grand scaling of the #NeighborhoodBattery ?
We cannot use the Lithium-Ion tech. Or other precious metal combinations.
We need a better tech and research for better batteries. Some smart researchers knew this years ago and one of the valid options is...
the Iron-Air battery.
"Cheap, multi-day grid energy. FINALLY!"
by Just Have A Think
The man revisited an earlier prospect to check out it's progress [11 min]
What can/should governments do to implement the #NeighborhoodBattery ?
There's no real need of subsidizing, the prospects on profit should be enough for investors provided the policies change.
Governments (local and national) should change and make #regulations .
Governments (local and national) should change and make #policy . No longer favoring the monopolist energy producers.
The ‘WAGMI’ mentality is undermining crypto - Greed, irrationality and anxiety have contributed to chaos in the... - https://cointelegraph.com/news/wagmi-mentality-undermining-crypto #cryptocurrency #investing #nfts
I've been calling bull shit on all the economic pessimistic analysis since summer 2022. A bull on #cryptocurrency and industrial/ materials, if you missed the greatest investment period since the 1960s, you can thank all the market #terrorists screaming recession and fraud.
There will be a dip next year.
Happy #investing !
War involves a level of radical uncertainty far beyond the calculable risks to which most investors have become accustomed. This means that even previous world wars have limited lessons for later ones, since no two are alike.
If you've been holding on to #Bitcoin, you may want to consider selling now. The ultimate signal that the value is going to crash has appeared: https://thenewscrypto.com/jim-cramer-recommends-investing-in-bitcoin-amidst-mixed-market-signals/
Hollywood Meets Crypto: Director Uses Netflix Funds for Risky Dogecoin Bet - Source: Boxoffice Movie Scenes / YouTube
Carl Erik Rinsch, the director of “47 Ron... - https://cryptonews.com/news/hollywood-meets-crypto-director-uses-netflix-funds-for-risky-dogecoin-bet.htm #entertainment #altcoinnews #investing #dogecoin #netflix #film
Confidential #IRS data reveals that David Hoeft, chief #investment officer of #MutualFund giant Dodge & Cox, was one of many #investment managers who bought and sold the same stocks their company was trading.
This is an interesting article on the value of starting from scratch, or at least fighting the tendency to follow the inertia of previous decisions. It starts with an interesting story about the German army buildup between WWI and WWII.
The Full Reset · Collab Fund https://collabfund.com/blog/the-full-reset/
Following the release of Digital World Acquisition Corp's amended registration statement and proxy, major media outlets seized upon Donald Trump’s media company (TMTG) losses exposed in the SEC filing. But wait, there's more!
The filing sets a deadline of tomorrow, November 21, 2023, for either the DW SPAC or TMTG to back out of the merger.
If neither of the parties exercises their right to cancel the deal, all signs point to a total failure. The 300+ page registration statement tells an epic tale of incompetence and betrayal, outlines the near-impossible hurdles the merger faces, and details a sprawling list of risks no investor in their right mind would take.
Sandwiched between the comic relief of absurd Trumpian bravado, finger-pointing, throwings under the bus, and a mountain of financial auditors’ red flags, I found an acquisition plan long past its consummation deadline, regulatory roadblocks, and a list of conditions necessary to close the deal that can only be met if waived by the parties involved.
Basically, this proposed deal is a shitshow on the level you would expect from a cohort that would dare to hook their financial wagon to master of fraud and veteran bankruptcy pro Donald Trump.
Can't wait to find if tomorrow comes and goes without a major announcement about the merger.
One of my hobbies is to better understand finance, investing, and all the math involved. However, it seems like this is a highly unpopular topic on Mastodon. 🤷♂️
I can find tons of people to talk to on X/Twitter, but that platform is incredibly toxic in places.
Can Complex Machine Learning Models Predict Stocks?
Many financial professionals are skeptical that machine learning models can ever predict stock markets. I explain why they hold that belief, and present research that challenges it.
Web3 advocate and author Alex Tapscott on the future of blockchain mass adoption - Alex Tapscott says Web3 offers “a set of tools” that can be used ... - https://cointelegraph.com/news/web3-advocate-and-author-alex-tapscott-on-the-future-of-blockchain-mass-adoption #blockchainresearchinstitute #blockchainrevolution #ninepointpartners #regulation #investing #web3
Also, I have a strong financial background too, including an NYSE analyst certification, and have a really good idea for a low-beta (low volatility) mutual fund with above-average returns (alpha), better than anything that’s currently available at the retail level, I think. If I could get $20 million invested I’d charge a 1% fee and work for free for a couple years just to get it off the ground, with the fee declining to Vanguard-like levels as assets grow. #investing #finance
How Warren Buffett Privately Traded in #Stocks That Berkshire Hathaway Was Buying and Selling
Buffett has long said such trading would be a conflict of interest, and Berkshire policies prohibit it.
But confidential records show that, on at least three occasions, he sold millions of dollars of shares in stocks that Berkshire was #trading.
"An #ImpliedTemperatureRise is typically calculated based on projected future greenhouse gas #emissions. It estimates the increase in global temperatures that would occur by 2100 if the whole economy were to overshoot its carbon budget to the same degree as a fund’s portfolio."
This could be very useful IFF it is truly "hard to game".
I always thought the shareholder value cartoon was pure satire, but this suggestion that Danish investors should invest in oil shares from Danish bank Saxo is naked tragi-farce..
(Especially when considering vulnerability of country to #SeaLevelRise)
I don't love the idea of my money going to fund the companies destroying the world, but most mutual funds seems to do that, and the banks, who knows what they do?
I'm supposed to get my money back w/interest, but there's ofc a risk. But the risk from investing in world destroyers is worse, IMO.
SkillUp absolutely nails it here: “…don’t buy into the shareholder propaganda that when the line goes down…that workers should lose their livelihood so that executives can still get paid millions of dollars and shareholders still get their tidy returns…”
In October 2021, Trump launched Trump Media & Technology Group (TMTG) and TruthSocial, along with an ambitious plan to build a media empire that he claimed would compete with the likes of Twitter, Facebook, and Netflix. To do this, he would need to raise some serious cash. Enter Digital World Acquisition Corp., a special purpose acquisition company (SPAC), a shell company to raise money and identify a merger target to take it public.
Fast forward to October 2023. Digital World is collapsing, and it’s taking Abu Dhabi-based ARC Global Capital LLC and other investors down with it. After Digital World initially raised $1 billion in private investments to merge with TMTG, it is now returning $533 million back to investors.
Shares of Digital World dropped to $15.54 on the news from a peak of $97 in March 2022. Digital World’s 2022 Annual Report, published April 26, 2023, reveals that ARC Global Capital owned 3.8% of Digital’s Class A common stock and 76.4% of Class B common stock, amounting to 14.8% of the SPAC’s total shares outstanding.
According to ARC Global’s website, “Since its inception, ARC Global Investment Capital LLC has invested in transactions totaling in excess of $2bn in combined enterprise value achieving top quartile returns and no losses to date.” That’s probably gonna need an edit pretty soon.
Digital World still owes its independent accounting firm, Marcum LLP, $361,660 in fees incurred during 2021 and 2022.
Perhaps that’s why Marcum stated in its audit of Digital World’s finances that “the company cash and working capital as of December 31, 2022 are not sufficient to complete its planned activities for a reasonable period of time.” As of December 31, 2022, Digital World has accumulated a total stockholders’ deficit of almost $31 million.
Digital World originally set a deadline of September 2022 to merge with TMTG. However, the US Securities and Exchange Commission threw a wrench in those plans. Turns out, when you form a SPAC, you’re not supposed to have a predetermined acquisition target; the SPAC is supposed to seek potential acquisition targets rather than identify a target beforehand, as Digital World did. This, and many other legal missteps doomed the SPAC to multiple regulatory investigations.
The SEC settled its case in July 2023, ruling that Digital World violated the antifraud provisions of federal securities laws, and assessed an $18 million penalty.
Curiously, just before TMTG received subpoenas from the SEC and a New York grand jury, Trump resigned as board chairman, and Donald Trump Jr., and former Trump administration official Kash Patel resigned from TMTG’s board. Trump still owns 90% of TMTG.
In 2022, the Southern District of New York investigated TMTG for money laundering, after finding it received a $8 million in loans: $2 million from Paxum Bank, based in Dominica and chartered under the Offshore Banking Act No. 8 of 1996. Paxum is partially owned by a former Russian government official who now runs a maritime agency under the jurisdiction of the Ministry of Transport of the Russian Federation. The other $6 million came from “ES Family Trust” which shared a director with Paxum.
Investors are now backing away, leaving Digital World with only $293 million – an amount that would be transferred to TMTG if the deal ever closes. That amount could dwindle as the potential for investors to request further redemptions remains.
Losers include not only Trump, who won’t be realizing his dream to build a media juggernaut, but also early investors, such as Georgia congressional representative Marjorie Taylor Greene, who invested between $15,001 and $50,000 in Digital World at $94.20 in 2022. Her losses based on current stock valuation of $15.54 amount to -84%. Hope it was worth it, Marge.
Count Devin Nunes among the losers as well. Devin Nunes (remember him?) vacated his congressional seat in favor of clinging to Trump’s disintegrating coattails as TMTG CEO. Nunes, despite representing California for nearly 20 years in Congress, is best known for losing his defamation lawsuit against a satirical Twitter account named Devin Nunes’ Cow. He can now add failed social media company CEO to his resume.
TruthSocial, Trump’s “Twitter alternative” social media platform has managed to garner only about 2 million monthly active users. For comparison, X (formerly known as Twitter) has about 245 million daily active users. Facebook has about 3 billion monthly active users. Even Mastodon and its larger group of interoperable servers known as “The Fediverse,” which is owned by no single individual or company, has 10.7 million registered users of which 1.5 million are daily active users.
So, it is safe to say that Truth Social and its parent TMTG can join a long list of Trump’s other business failures.
:polarbear: Pivot to AI: Pay no attention to the man behind the curtain
「 What’s the exit plan for AI VCs? Where’s the liquidity event? Do they just hope the startups they fund will do an initial public offering or just get acquired by a tech giant before the market realizes AI is running out of steam?
We’re largely talking about startups whose business model is sending queries to OpenAI 」
The used-car market’s hot streak may be ending as borrowers struggle to make payments and regulators say some auto lenders are “setting up consumers to fail.”
Working on my finances and #investing today, and I'm looking through the socially-responsible ETFs, those that purport to be for equality, climate-conscious, etc. Looking into their portfolios, most are invested in Nvidia, Tesla, Microsoft, Amazon, Apple, Meta, etc.
What the hell? I mean, yes, electric cars are good, MSFT is doing a lot to be carbon neutral or even negative, but still, this isn't really what I was looking for
Seeing a lot of bad takes about why Amyris $AMRS declared bankruptcy, including from other #synbio founders.
Amyris tanked because of bad management making terrible financial decisions.
Also, whether we like to admit it or not, economics still crush most things in #biotech . At least with the current approaches to commercialization.
G20 Nations Invested Record $1.4 Trillion Into Fossil Fuels in 2022, Report Says #G20 #fossilfuel #fossilfuels #investing https://www.ecowatch.com/g20-fossil-fuels-spending-2022.html
Uh kinda glad I chose VT rather than lean on VOO, though not that the world is doing any better 😂 I just preferred not to bank on one country, even if most US firms are international, and VOO has historically outperformed VT.
Wonder if there's a Hong Kong ETF equivelant of VT? 🤔
The Federal Reserve raised interest rates again today, and markets tumbled.
Rising interest rates are one factor behind a sharp reduction in investors putting money into funds that stress sustainability and other non-economic factors.
A corporate finance expert from @ufresearch looks into what's going on with #ESG investing: https://theconversation.com/fed-rate-hikes-recession-fears-and-political-backlash-leave-esg-investors-at-a-crossroads-203639
#Fed #News #InterestRates #Investing
As a person who spent his entire professional life in the tax business, i can attest to the below. The rich, not all, but a lot, think rules do not apply to them. And their money allows them to buy politicians who do their bidding. Like cutting the IRS budget and telling the poor and middle class it's for them!
Think the Panama Papers! All those off shore accounts!!
How should Indigenous people participate in the clean energy transition?
1. Energy is an essential service. We should all have the same level of access to affordable, reliable and clean power, no matter where we live in this country.
2. Indigenous participation needs to occur in the design, construction and operation of energy projects.
3. There must be free, prior and informed consent for projects on Indigenous lands.
That's First Nations Clean Energy Network Steering Group member Ruby Heard talking.
Join the Network here https://www.firstnationscleanenergy.org.au/join
Listen to the interview with Ruby Heard here https://www.3cr.org.au/earthmatters/episode/reflections-roundtables-transition-net-zero
I've been buying and selling cryptocurrency for years.
All the hate on cryptocurrency is from individuals who never owned any, sold out their holdings or have never been defrauded.
The pollution critics of cryptocurrency mining are entirely a joke and I believe likely sponsored by the oil industry.
Joseph Smith encouraged early Mormons to pool their resources. 200 years later, the LDS church has an investment portfolio estimated at $100 billion – and recently agreed to pay a $5 million fine in a settlement with the U.S. Securities and Exchange Commission for obscuring details of it.
The time is now for anyone with discretionary income to start #investing in #biodegradable and #renewable #MaterialScience #research. Switching from #plastics to biodegradable and renewable materials will massively benefit our planet, and all life upon it. But just in case that's not a good enough reason in itself to #invest, the imminent exponential #growth in that sector will turn a tidy #profit for anyone who does. No matter if you're a #socialist or a #capitalist, investing in the #future is the only smart play.
Wealthy Executives Make Millions Trading Competitors’ Stock With Remarkable Timing
"It is the wealthiest who benefit most. The losses can be used to erase an unlimited amount of investment gains. Someone like Ballmer can easily deploy $100 million in losses to cancel out a $100 million gain from selling some of his vast Microsoft holdings.
It’s a very different story when it comes to wages and other forms of income, of which only $3,000 can be offset."
"over the past 25 years, investing has undergone a transformation that’s made the law against wash sales toothless...
Asset managers have used these advances to forge loss-harvesting accounts that boast hundreds of billions of dollars in assets. What the law sought to prevent — generating a tax loss without a substantial change in the investment — is now commonplace."
The anti-ESG rhetoric is intensifying, but if you've been following me long enough, you'll know that:
1. #ESGInvesting is tied to value, not values.
2. You can't ban the consideration of risks from the markets.
Conservatives are talking about banning values-based choices through Impact Investing, Thematic Investing, Sustainability Investing, etc. Blanketly doing that firm by firm is a short-sighted strategy with financial implications for citizens, as we've seen in Texas already.
Jill Fisch is right, though. "Such a coordinated political attack on the finance industry may be without precedent."
If nothing else, Financial Services firms need to be doing two things:
🏷️ Ensuring financial product information is clear regarding its intentions, especially around investible products. It is well past time to capitalize on both #ESG and #Sustainability (not the same thing) by providing transparency and clarity.
📈 Pulling the data for hearings where they can show how conservative states benefit from this risk management already. I don't believe we'll see evidence that ESG is a growth wonderland, but there should be enough solid evidence that it is a fiduciary consideration. After all, ESG is material.
#Investing #Government #RiskManagement #Markets
#Tesla has announced they will be doing a hiring freeze and another round of lay offs. With their CEO cosplaying as an authoritarian dictator over on #Twitter and the #stock being down roughly 66% YTD, this comes as no surprise. Driving a #Tesla went from a status symbol to an embarrassment. #finance #investing #business #news
"AFOLS" - Adult fans of Legos ...
Unfortunately, I love opening and playing with them so much that I don't think this would work for me :D
NEW ANALYSIS: The approval for the #UK's new Cumbria coal mine makes little sense.
The assumption the mine will meet demand from the steel industry runs counter to leading steel firms attempts to deploy new clean production technologies.
Little of the new coal will be used by UK steelmakers, who are making it clear they want government support to transition away from coal in order to remain competitive.
If the UK government wants to maintain a domestic primary steelmaking capacity, it will need to provide financial support to the major producers to transition, undermining the rationale for the mine’s approval.
It already seems clear that little of the coal from the new #Cumbria mine will be used by the UK steel industry.
But if the government moves to support the steel sector’s transition away from coal – as #Europe is already doing – then approval for the new coal mine makes even less sense.
Focusing on carbon is critical, but it isn't
💰The only thing investors care about
🌎The only E, S, or G issue to consider
Yet, companies are laser-focused on it. I could've called this "What's the deal with carbon?"
TLDR: You have to do it all!
Check out my latest and don't forget to subscribe!
https://esgadvocate.substack.com/p/do-companies-know-what-investors #ESG #Investing