Nov 17, 2021 Sign Up

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"You're never rich enough if you can be richer." – Jules Verne

Good morning! US consumer confidence plunged to the lowest level in 10 years in November. People are concerned about the boomin' inflation and about 1 in 4 consumers have reduced their living standards as a result of higher prices. Elsewhere, the confidence in Lucid (overtaken Ford & GM in market cap) and Reese's Thanksgiving pies is at an all-time high. The 3,000 9-inch pies made of only chocolate and peanut butter, announced yesterday have already been sold. Looks like if you want a Turkey for Thanksgiving this year, you might want to go the supermarket right about now...

Announcements:

Lots happening at Short Squeez headquarters. We are partnering with the Shaka Club to host our first ever event! On December 4, you can join us for a holiday party politely known as the "Holiday Board Meeting" at the McKittrick Hotel. See below for details and register to purchase tickets here.

We added a bunch of new jobs to the of Overheard on Wall Street Career Portal. If you are tired of your current job (like everyone else lmao) we have 70+ jobs for you to choose from. If you are in the market to hire a candidate, you can post a job by clicking on the Post a Job on the top right corner of the Career Portal.

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1. Story of the Day: Santa Coming Early to Wall St

With inflation wylin’ this year, there is some good news for Wall Street. Bankers and traders are poised to get their biggest bonuses since the financial crisis.

In a whirlwind last 2ish years, where resignations have been poppin’ off and morale has been at an all-time low, banks hope the cash boost will stop the bleeding of resignations.

According to a report by Johnson Associates, equity / debt underwriters are expected to be the biggest winners, with a 35% increase expected from a year ago. Equity traders and M&A bankers may see a 25% increase and fixed-income traders might be the only losers, with bonuses expected to shrink as much as 5%.

In a surprise turn of events, the pandemic was great news for Wall Street banks. Goldman Sachs posted enough revenue through September to give the firm its best year ever and JPMorgan revenue for the first nine months of the year was an all-time record.

Banks did show restraint last year, wary of giving large bonuses in a pandemic. But now as a second blockbuster year comes to close, expectations across Wall Street are high. Santa is coming early to Wall Street this year. (fingers crossed)

Short Squeez Takeaway: There’s not much news or many articles that bring happiness to miserable investment banking analysts, who are drowning in the record level of deal activity these days, but we hope this one will bring a smile to your face. It's all speculation though, so pls don’t get that Rolex or deal sleds just yet.

Source: Bloomberg

2. Markets Rundown

• The S&P 500 on Tuesday barely missed finishing in record territory for the 66th time thus far this year, as stocks in consumer and tech supported a broad-market advance.

Movers & Shakers

• (+) Lucid Group ($LCID) +21% after reporting more than 17,000 reservations for its “Air” sedan.
• (+) Peloton ($PTON) 14% after announcing it plans to sell roughly 23.9 million shares of its Class A common stock at a public offering price of $46.
• (–) SoFi ($SOFI) -5% after announcing a secondary offering of 50 million shares.

3. Top Reads

A Message from Miso Robotics

Time is running out to invest in Miso Robotics’ autonomous robot kitchen assistants.

These bots perform tasks such as grilling and frying alongside chefs in commercial kitchens and are currently working with 10 of the top 25 brands in the QSR industry, with dozens of pilot programs underway. 

Miso just announced its latest partnership with Inspire Brands, parent company of Buffalo Wild Wings, called Flippy Wings – forecasted to increase food production speeds by 10-20%. 

The last day to invest in Miso’s robot cooks is tomorrow November 18. 

Grab your bite of Miso right here.

4. Book of the Day: Building a Second Brain: A Proven Method to Organize Your Digital Life and Unlock Your Creative Potential

For the first time in history, we have instantaneous access to the world’s knowledge. There has never been a better time to learn, to contribute, and to improve ourselves. Yet, rather than feeling empowered, we are often left feeling overwhelmed by this constant influx of information. The very knowledge that was supposed to set us free has instead led to the paralyzing stress of believing we’ll never know or remember enough.

Now, this eye-opening and accessible guide shows how you can easily create your own personal system for knowledge management, otherwise known as a Second Brain. As a trusted and organized digital repository of your most valued ideas, notes, and creative work synced across all your devices and platforms, a Second Brain gives you the confidence to tackle your most important projects and ambitious goals.

Discover the full potential of your ideas and translate what you know into more powerful, more meaningful improvements in your work and life by Building a Second Brain.

Holiday Party by Overheard on Wall Street x Shaka Club

5. Career Portal

6. Short Squeez Picks

7. Daily Visual: Audiobooks & Podcast Taking Over
Spoken word audio listening by type

Source: Axios

8.  Daily Acumen: Flaws

Comparing reality with an idealized alternative.

Emphasizing technical expertise while discounting softer topics like communication and empathy.

Overlooking that some of your opinions would change if your incentives were different.

Having a hard time distinguishing between what happened and what you think should have happened.

An illusion that other people’s bad circumstances couldn’t also happen to you.

The inability to communicate your ideas because you wrongly assume others have the necessary background to understand what you’re talking about.

Extreme adherence to a specific worldview in a world that changes all the time.

Source: Collaborative Fund

9. Memes of the Day

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