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Collecting banned books is one of my vices, so Banned Books Week is like Christmas coming early every year. | I prefer first editions, but if your tastes are more sensible, visit Bookshop.org (Amazon for independent bookshops) and look at a list of banned books I’ve curated for you. | | If you buy something using code BannedBooks24, you’ll get a cool 15% off. I'll get a few pennies to support my habit if you buy something. |
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Traditional finance 🤝 Tokenization |
In our previous explorations of the benefits and pitfalls of tokenization, three things have become clear: |
Traditional markets have limitations which tokenization can solve Tokenization is earning trust and respect (Blackrock just changed their mind on it) There are companies to pay attention to |
One company to watch is Diamond Lake Minerals ($DLMI). |
They started in 1954, but are now tokenizing assets across commercial real estate, music, tv, media, and IP, consumer products |
| DLMI creates SEC-registered tokenized securities. |
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How it works: |
Their Security Token Offerings (STOs) allow for real-time settlements and improved transparency. DLMI ensures that all investments are conducted on SEC-regulated platforms making it a safe and compliant way to enter the world of digital securities. Investors can take advantage of tokenized assets and fixed-rate bonds, providing monthly payments or compounding interest. |
Recent news: |
New CEO Brian Esposito took over Aug 23 and has lifted the stock from $0.35 to a high of $13 Invested in Upstream: their own licensed digital asset/security token exchange Partnered with Republic, Colliers, and Boxabl |
| DLMI's advisors include Anthony Scaramucci ("The Mooch"), Larry Namer, and Raul Leal |
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DLMI is a publicly-traded security. Accredited and non-accredited investors can invest. |
Learn more: |
DLMI Teaser DLMI Deck |
Have a question for CEO Brian Esposito? |
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Safe Harbor Statement |
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📰 Market Headlines |
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The S&P 500 closed at a record high yesterday, with the Dow and Nasdaq also advancing after upbeat US economic data. The S&P 500 gained 0.4%, its 42nd all-time closing high this year. The Dow rose 0.6%, while the Nasdaq rose 0.6%. US GDP growth for Q2 was confirmed at 3%, suggesting a more modest 25 basis point rate cut in November. New York City Mayor Eric Adams was charged with fraud for allegedly accepting $10 million in improper campaign contributions. OpenAI allegedly considered restructuring to for-profit as CTO Mira Murati, Chief Research Officer Bob McGrew, and VP Barret Zoph departed. CEO Sam Altman dismissed any connection between the two. |
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🕶️ Market Vibes |
🎰 Market Forecasts and Futures |
Forecasts via Kalshi, the prediction market. |
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😱 Fear and Greed Index |
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🎤 What you said last time |
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What you had to say: |
“Also bad for the company. Unions went from being necessary to protect workers who were exploited to workers exploiting the companies they worked for. Employees, like in Detroit manufacturing jobs, seem to give themselves raises until they are out of a job. ” |
📈 Trends you need to know | | Though it’s had a rough TTM, Dell has returned nearly 400% over the last five years. |
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🧠 What do you think? |
Without looking, how relevant do you think Dell still is? |
Dell's TTM Revenue wasNo peaking |
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📊 Stocks |
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Winners and losers |
Earnings, upgrades, and acquisitions |
BlackBerry rose 6% after hitting breakeven EBITDA and non-GAAP EPS in Q2. Accenture beat Q4 earnings expectations; shares jumped 4.5%. Jabil climbed 11.65%, surpassing Q4 expectations. Costco beat estimates while revenue fell short, causing shares to inch up 0.51%. CarMax exceeded Q2 revenue expectations despite a 0.9% YoY decline; stock surged 4.99%. |
Market movers |
Dell ordered its global sales team to work from the office five days a week. Vitesco Technologies agreed to pay former parent Continental €125 million to settle a diesel emissions probe. Drata laid off 9% of its workforce, affecting 40 employees. Citigroup and Apollo Global partnered for a $25 billion private credit and direct lending program. Google's NotebookLM added support for YouTube videos and audio files as new source types. |
Ideas, trends, and analysis |
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The 30-year mortgage rate dipped to 6.08%, its lowest level in two years. US jobless claims dropped to a four-month low of 218,000 last week. |
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🌍 Global Perspectives | | 🇯🇵 Japan's ruling party elected a new leader to replace Prime Minister Kishida. 🇨🇳 A Chinese nuclear sub sank, embarrassing Beijing during its military expansion. 🇳🇴 Norway seeks Rinson Jose, linked to explosive pagers that killed 39 in Lebanon. 🇦🇷 Argentina's poverty rate soared to almost 53% due to President Milei's austerity policies. 🇷🇺 Putin proposed new nuclear rules, raising Ukraine war tensions. 🇺🇸 🇱🇧 🇮🇱 US and allies called for a 21-day Israel-Hezbollah ceasefire. 🇵🇪 Peru declared a 60-day emergency in Lima to fight rising crime during bus driver strikes. |
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📊 Crypto | | Core blockchain, a Bitcoin Layer 2, surpassed $400 million in Total Value Locked. Morocco launched a $1.1 billion Digital Morocco 2030 plan, with plans to become a digital hub with 240,000 tech jobs. Solana-based Mawari Network raised $10.8 million, bringing its total funding to $17.3 million. | |
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🧠 Errata | A British Columbia man filmed a hissing bear in his garage. A Maryland woman won $50,000 from a lottery ticket her mom bought after joking about needing a winning ticket. Five horses broke free, leading police on a medieval-style chase. Cosmonaut Oleg Kononenko returned after a record 1,111 days in space. The Boar's Head deli meat listeria outbreak claimed its 10th victim. |
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📺 What to Watch Today |
| Video shows B.C. man's surprise encounter with bear in his garage |
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That’s all for today. Did I miss anything? Smash the reply button to let me know. | Cheers, | Wyatt |
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