Why timing the market doesn’t work (EP. 46)

On this week’s episode we talk about asset demographics in the US and why they exist, the cost of timing the market and why it doesn’t always work, how mortgage rates and rates in general are staying higher for longer, SpaceX’s quarterly earnings, and the $900,000 AI job.

Email us at laminatemoneypodcast@fjellcapital.com for questions or suggestions for future topics.

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Stocks

• The next streaming wars will be Netflix and Microsoft over cloud gaming
• AI powered article summaries
• SpaceX said it made it’s first profitable quarter on $1.5 billion in revenue (more than Marriot, WYNN, and TRowe Price)
• Walmart says says consumer picture is looking up compared with start of the year
• Target said backlash to its Pride month collection contributed to weaker sales
• Energy stocks finally aren’t falling in 2023
• The cost of timing the market

Economy

• When will the Fed begin cutting interest rates? The answer to that question depends on who you ask. Odds provided by CME Group show traders are placing the highest chances of a cut in May of next year. Economists at Goldman Sachs agree, expecting the first rate cut will be delivered in Q2 2024. Across the Street, JPMorgan doesn’t see Powell & Co. cutting rates until the second half of 2024. Next door, Morgan Stanley is more optimistic, predicting the first reduction in rates to arrive in Q1. Something most investors can agree on: the Fed will pause at its upcoming meeting on September 20.

• Are mortgage rates hurting the housing market?
• The $900,000 AI job is here
• This inflation chart from Ryan Detrick
• Electronics construction spending is breaking out

Housing

• Why the share of wealth among younger people is skewed towards real estate

Other

• Most Americans under 30 prefer subtitles