Exchange Invest Weekend Edition 2751: Bear Markets & More
Generational wealth, what Jack Ma does now, the great AI data backlash, stupid headline, bear markets, abandoned EVs pile up…
Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.
Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.
On this day in 2013, Microsoft Corp. announced that it was buying Nokia Corp.’s line-up of smartphones and a portfolio of patents and services for 5.44 billion euros ($7.2 billion).
IN BIGWORLD
From Exchange Invest 2749: Thursday, August 31st:
A new article in the journal Nature confirms that previous apocalyptic believes about plastic being dumped in the ocean are wrong by a factor of 16! Some 500,000 metric tonnes of plastic end up in the world’s oceans annually — not the 8 million metric tonnes previously estimated.
EI WEEKLY PODCAST
It’s A Big Week For Takeovers: ICE Black Knight Gets The Okay From The US FTC, While European Authorities Green Light The DB1 Purchase Of SimCorp.
The Exchange Invest Weekly Podcast 209
VICTORY OR DEATH
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must-read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
FINANCE BOOK OF THE WEEK
In response to reader’s queries, we have added a book of the week column to the EI weekend edition — You can sign up for EI Weekend for free at ExchangeInvest.com incidentally.
We’re choosing interesting books pertaining to exchanges and markets, investment et al.
This week’s book was written by Benoit Mandelbrot.
“The (Mis)Behaviour of Markets” foreshadowed a market crash, explains why it could happen again if we don’t act now. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous — and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.
Get the book here.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com — it’s only $349 per annum to join “The Exchange of Information.”
BITCARNAGE
Bitcarnage this week was as whacky as always from the (overly exuberant) crypto kiddie celebration of the Grayscale case against the SEC (merely instituting an enquiry so something SEC can squash) while SBF is being sustained in jail by peanut butter, bread and water while lacking access to his Adderall.
Presumably SBF was left to ponder how his bail was set at $250 million (albeit hypothecated with such leverage that if it were a CFD the EU would have banned it) whereas President Trump had his bail set at $200,000 (ponied up in cash) in Georgia.
Elsewhere as always the lawyers won big in the world of crypto V1.0 while Binance had another week replete with retreat — from Russia and with the loss of its Mastercard partnership being just two of them.
If you enjoyed this excerpt you may be interested to know that you can read Bitcarnage every day in Exchange Invest.
Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.
PODCASTS THIS WEEK
Poland: From Socialism to Prosperity
Rainer Zitelmann Youtube
PLY: Rainer Zitelmann was our IPO-VID guest 104. He will return to our studio on September 12th to discuss his book, The Wealth Elite.
MACRO THOUGHTS
Visualizing US Wealth By Generation
Visual Capitalist
OF INTEREST
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
Jack Ma Continues To Focus On Agriculture, Education As Alibaba Undergoes Sweeping Changes
South China Morning Post
Why The Great AI Backlash Came For A Tiny Startup You’ve Probably Never Heard Of
Wired
The National: ‘Can An Independent Afghanistan Offer Lessons For Scotland?’
The Spectator
PLY: Included only because this headline defines the insanity which can befall some insular political movements — in this case the daft dash for Scottish independence.
A History Of U.S. Bear Markets, 1957 To 2022
Forbes
China’s Abandoned Electric Cars Pile Up After EV Boom Fueled By Subsidies
Bloomberg
LAST WORD
…If you want to stay abreast of the world of exchanges then please Subscribe to our Daily Newsletter — free 30 day trial.
Or Subscribe to our EI Weekend newsletter in Substack — it’s free.
You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.
At the least can you like this article, or leave us a comment, we welcome your feedback.
If you enjoy our multimedia, then please Like / Subscribe to our video channel: IPO-VID In Patrick’s Opinion.
Catch up on Monday for Exchange Invest 2752…
The future continues in the water cooler of the bourse business…
- Patrick
