Welcome to another BroStocks Friday newsletter…we look at news around the coming recession, tech earnings season, and more. Thank you for reading!
Personal Finance & Economy
U.S. Home Prices Could Fall as Much as 20% next year (CBS News)
This is a pretty stunning development given the chatter by many that the 2008 housing driven recession corrected a lot of the factors in the system that allowed the market to crash so hard. The piece lays out a clear and simple analysis why this big fall could happen.
Why some economists say the recession could be worse than forecasted (USA Today)
The high interest rates here in the United States and several factors abroad have some economists drifting from the theory of a soft recession.
‘Living paycheck-to-paycheck has become the norm’: Inflation takes toll on Americans as emergency savings run dry(Market Watch)
Never good to see…
Rents are starting to fall across the United States – and they’re set to drop more in 2023(Business Insider)
But, perhaps, a potential silver lining among the economic turmoil.
Stocks
Elon Musk begins his Twitter ownership with firings, declares the ‘bird is freed’ (Reuters)
It’s finally happened and I am sure a lot of oxygen will be used in all of the analysis around this.
Big Tech is Getting Wiped out in Q-3 earnings, but why isn’t Apple? (Business Insider)
Apple’s strong brand loyalty saves the day as they are largely spared while other big tech names
get demolished.
Mark Zuckerberg’s net worth drops $9.9 billion after latest Meta earnings(Fox Business)
A stunning drop in wealth after Meta fails to deliver. It has everyone wondering if Zuck’s big bet on the metaverse will ever payoff…I’d imagine some investors could now relate to this clip.
Jim Cramer is really sorry about his wrong Meta call(Fortune)
Jim Cramer is known for…not always getting his projections right…so much so that some have turned it into an investing strategy. Here’s yet another example, that led him to cry on live TV.
Amazon stock drops 17% after dark forecast (Business Insider)
A potential buying opportunity for a reliably strong stock, but certainly another sign of recession ahead and another blow for big tech.
Crypto
The Crypto Story(Bloomberg Business)
Bloomberg dedicates a full issue to all things crypto and basically gives the reader a guide to explain how it all works, even at a time when we are in what is considered the ‘crypto winter’.
Life at Work
2022 is like a splash of cold water for crypto bros, retail traders, van lifers, and remote workers(Fortune)
Are we moving back to pre-pandemic reality?
Retail & Commerce
Hobby Lobby Founder says he’s giving away his company because ‘wealth is a curse’(USA Today)
This follows the trend set by the Patagonia founder giving away his company last month.
Department Store Foot Traffic is Down, but Recovering: Report(Retail Dive)
Does one of the hardest-hit industries in recent history have a right-sized future?
Entertainment
Mark Cuban on Shark Tank Season 15: ‘I’m definitely back’(The Street)
A relief for fans of one of our favorite shows…
Powerball prize increases to $800 million after no jackpot winner in last drawing(ABC News)
Will I be heading to the corner store for some tickets today? Well…probably.
Our visit to the Nintendo NY store (Brostocks)
Did you know that Nintendo has an official store in Times Square? We write about our fun visit and provide some video of our visit to the Nintendo retail HQ in New York City.
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