đ°What was in the News?
Jamie Dimon decided to turn into a part novelist, part economist, part critical race theorist as he went in with a 66-page annual shareholder letter. In it, he detailed 15 policy recommendations for US lawmakers, supported economic growth but not at the expense of low-income communities, and touted inequality as the main plague our nation faces.
Tech Climbs higher: 20 out of 25 names on the ST Top 25 Nasdaq 100 list closed higher. With rates set to remain low, Jerome Powell reaffirming the Fedâs focus on easy monetary policy, and bond yields dipping again, this is the perfect brew for technology equities to stay hot.
Amazon workers say no thank you to a labor union. Even though Amazon has said they support their workers, there was an extreme lack of voting participation at the Bessemer, Alabama warehouse and rumors of threats from Amazon supervisors. This is a huge win for Amazon moving forward, and a major loss for unions everywhere, but especially in tech.
đ¤Meeting Recap
DCF Modeling: Just an intro to DCF modeling. This is a very important skill you will need for any finance role. The ability to build out a financial model, project cash flows, and discount them at a reasonable rate is the basis of finance and investing. Next week we will continue working through the model so the following week we can move onto the big KAHUNA => Leveraged Buyout (LBO).
BBQ at mine: Thank you to everyone who came over on Friday night! It was nice to finally meet many of you in person. I hope you all had a good time and werenât to scared off by my roommates, cus I know I am.
â¨Highlights of the Week:
Congrats to Edward Jordan, Taylan Karaoguz, and Ani Jain ;) on making it to the final round in the VC case competition. Big S/O to Taylan and Edward who are putting on.
Valerie Olivia: She will be posting Instagram posts in the next few weeks and is putting in a lot of work to make it look like we are a contemporary art club. Thank you, Valerie, excited to see your work come out!
Prof. Spizman: Shoutout for the $$$ for the BBQ!!
đŽWhat to Look forward to:
1on1âs with Billy. I know many of you didnât sign up for this, either because you are scared of me or you know more than me - both of which are presumably very valid. But PLEASE! I would love to meet with all of you, especially the younger crowd. So either Teams me, or send me a text@ 818-618-6664
E-board elections. Finalizing a date soon. Reach out if you have questions and/or are interested. We will be sending an email with a chance to sign up for elections and describe what the positions entail.
DCF and LBO modeling
A social meeting
Quote(s) of the week:
Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.
Calvin Coolidge, 30th President of the United States