Hey Welcome Back!
What a week. Market was a seesaw, my brain needed 4 days to calibrate, and a piece of digital art sold for $69 million.
📰What was in the News?
Market was falling like snow, then it wasn’t, then it was. The 2020 trend that saw growth and tech stocks skyrocket and traditional value go, meep, has switched up. Energy (the $XLE), which gained 16% over the past month and Financials ($XLF), which has gained 8%, respectively, shows that DeepF******Value is back, baby. Then tech said, Not so fast my friend. Like a thief in the night, tech and growth rebounded on Wednesday and pushed green for the year. The Nasdaq did 3.2 % this week but is still down 5% for the month ($CLOU, a cloud computing etf, is down 10% over the past month). Today was another turbulent day with stocks swinging all over the place. Value continues to stay strong, though, as the DOW has stringed together 6 green days in a row. It will be interesting to see if the market will continue to reward boomers and destroy us GenZ’ers, or be a beacon of justice in this unjust world.
🤑The $1.9 trillion stimulus bill finally passed. This bill will provide Americans a $1,400 check, extension of $300 in weekly jobless-aid and spur economic growth to 5.95%, the highest in nearly four decades. If you want to read a comprehensive deep dive, go here
📘Coursera, one of the largest EdTech companies in the world, recently filed their S-1 to become a public company. Growing revenues, yes, expanding margins and showing operating leverage? Nope. Will be interesting to see how investors treat one of the biggest EdTech companies in the world.
Hotel California maybe opening back up. On Thursday, the LA County public health issued guidance to open indoor dinning, go to the movie theaters, and workout in a gym. While we have heard this tune before, 11 million residents have been vaccinated, and COVID cases are slowing by the day. There may not be an LMU graduation, but hey, maybe POWs will be open in MAY.
👛Artist, Mike Winkelmann, better known as Beeple, sold his collection of work, ‘The Fist 5000 Days’ for $69 million, making him among the top three most valuable living artists. NFTs are selling like crazy, and it makes one think: Is this a fad, or are they here to stay?
🤝Meeting Recap
Henry Jordan gave some great leadership lessons drawing from his time as CEO of Wells Capital Finance. Few of my favorite highlights:
What makes a good candidate? Remember, if you are looking to get hired, put yourself in the shoes of the person hiring you. I heard some good thoughts here at the meeting, including, clear and concise communication skills,
Resume practice… Resumes > Cover Letters. We are going to be going over resumes and providing advice. Take the criticism in stride as we are all focused on one thing -> growing.
✨Highlights of the Week:
Not much goin going on here. With the Venture Case Competitions coming up, we should have more action in the coming weeks. If you are looking to get noticed, you have to show out. Jack and I will be looking for people who go above and beyond.
🔮What to Look forward to:
🏀Stock march madness! We are going to be sending out invites this weekend or early next week. Basically, you pick a stock, and let it ride in a bracket-style tournament. The winner gets a clubhouse invite.
Venture case competitions are heating up.
Our project with SoLo funds is locked down and we are going to come out with some amazing work, hopefully ;), by mid-April
We are engaged with another startups right now for project management work, so if you want to get involved, let me know
Dinner on April 9th!
Quote of the week:
After 1 year you water bamboo and nothing happens
After 2 years you water bamboo and nothing happens
After 3 years you water bamboo and nothing happens
After 4 years you watering bamboo it grows 90 feet