I am flying to Toronto today. Toronto is home to the World Angel Summit and I was invited to give a presentation. It will be fun seeing family and friends. From Toronto I am off to New York for a few weeks.
I have a bunch of good reads and podcasts set for the long day of travel so will share them below..but first some market catch ups….
God bless the S&P. IT has now had a record 560 days above the 200 day moving average. This is NOT bearish. I do believe that when this run ends, we will pay a nasty price.
We have a long list of companies you will recognize on the all-time high list.
We are on pace for the 10th straight positive year for the Dow, the S&P and the Nasdaq. Wowzers.
The rest of the world continues to lag the S&P badly. Charlie has the best graphic for context.
The Fed Funds rate is back above 2 percent – the pre Lehman crisis. I don’t claim to know what this really means, but it seemed like a cool chart!
Weed rhymes with Greed and this was one hell of a week for both.
CANNABIS IS THE NEW CRYPTO.
First – Tilray finally peaked at 420 times sales. This was a good read on all things Tilray.
If you follow me on Stocktwits you know I own ONE cannabis stock $GWPH. I own it purely from listening to Todd Harrison (my go to person for all things public company cannabis related). Todd has talked about it at the last two Stocktoberfest’s. He will be making a rare third straight (triple lindy) Stocktoberfest appearance next month. $GWPH closed the week strong near all-time highs.
Barron’s is out stealing Barry’s mid week headline from above with ‘Marijuana Stocks are The New Bitcoin‘.
Of course there is an Uber for Weed.
Ok enough about Cannabis. What about Crypto?
By Friday, the weed trade seemed to be ending and the crypto trade back on. You might enjoy this Ben Horowitz interview on Crypto (disclosure – long Bitcoin).
This was a good thread on why the selling in Ethereum may not be over (disclosure – long Ethereum)
Now to the rest of the reads and podcasts…
A good read from professor Scott on the Apple and Amazon product releases.
The exploding Chinese middle class.
The amazing Howard Lutnick and Cantor Fitzgerald.
This was a great read on Juul and teenagers….ugh.
An oral history of Apple’s infinite loop is really good.
Exactly why Benioff bought Time Magazine and Bezos The Washington Post.
Every generation gets the beach villain it deserves reminds me of a few neighbors I have had.
Great ‘Masters of Scale’ podcast with Instagram founder Kevin Systrom.
This podcast with a fantastic trend follower Salem Abraham.
PS – I am building my Toronto presentation using Beautiful.AI which my friend Shiva recommended. Looks cool so far.