Sep 20, 2021 Sign Up

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"If I had asked people what they wanted, they would have said faster horses." – Henry Ford

Good morning! Hope y'all had a fantastic weekend. Philippine boxer Pacquiao is running for presidency in 2022. "I’ve never backed down from any fight" he announced. Pennsylvania's state-run liquor system has put a 2-bottle limit on some booze in response to supply shortages (thots & prayers). Amazon's third career day, last Wednesday, was a huge success as it received over 1 million applications from 170 countries.

If you are looking to invest in venture capital, check out Sweater Ventures. If this email was forwarded to you subscribe here.

1. Story of the Day: NFTs Not for Everyone

Since last month, digital art pieces known as NFTs (non-fungible tokens) have supplanted meme stocks/altcoins. Every crypto investor is trying to get in on the action and most are losing a lot of money. 90% of collections minted today are totally useless and meaningless.

Last week’s $24 million Sotheby’s auction of ape tokens, the $180 million Doge meme and other surreal superlatives from the summer of NFTs have all painted a pixelated picture of easy money. While news headlines will have you believe everyone is becoming a millionare from trading JPEGs, the reality is that most new buyers are left holding the bag (worthless NFTs).

In the 90 days through Monday, roughly 1.9 million assets were sold on the largest marketplace OpenSea. But about three quarters never saw another transaction. For those that do find buyers, the market is dominated by high-profile, high-value works. The most actively traded 3% of collections accounted for 97% of all dollar volume.

NFTs don't always go up in value. Among those with at least 100 transactions, 42% saw their average dollar price drop, while 39% doubled in value or more.

Short Squeez Takeaway: Assessing the fair value of virtual koalas, vampires or eggs is hard for real artists let alone Reddit traders who have never seen another art piece in their life. Any one can mint an NFT and do a drop so there's one happening every other hour. There is no way all these collections have or can maintain any value. In any case, NFT investing is not for the faint-hearted but if you are a YOLO investor this is probably perfect for you.

Source: Bloomberg

2. Markets Rundown

• US stocks closed lower Friday, slumping for the week, as bearish momentum gathered steam after a reading on consumer sentiment held close to a roughly 10-year low.

Movers & Shakers

• (+) Zumiez ($ZUMZ) +8% after the skateboard apparel retailer announced a share repurchase of up to $150 million.
• (+) Thermo Fisher ($TMO) +6% after it said earnings and revenue for 2022 will be much higher than analysts expected.
• (–) US Steel ($X) -8% after it revealed plans to build a new steel mill whose construction would start in 2022.

3. Top Reads

A Message from Sweater Ventures: The Venture Capital Fund for Everyone

Sweater is opening venture investing for everyday investors. 

The last decade has seen a rise of retail investors keen on taking investment power into their own hands. Every year, more technology and resources allow investors (like you!) to make well-informed decisions for where their money goes and how it grows.

But the most lucrative long-term investment strategy—venture capital—is still out of reach for the majority of investors, until now. 

Venture capital is no longer just a club for the uber wealthy—it’s our time to put stake in the companies we want and know will change the world. Sweater, the VC Fund for everyday investors is coming soon. 

Join the waitlist to find out more information*.

4. Book of the Day: It Takes What It Takes: How to Think Neutrally and Gain Control of Your Life

As the most trusted mental coach in the world of sports, Trevor Moawad has worked with many of the most dominant athletes and the savviest coaches. Now, at last, Moawad shares his unique philosophy with the general public. He lays out lessons he's derived from his greatest career successes as well as personal setbacks, the game-changing wisdom he's earned as the go-to whisperer for elite performers on fields of play and among men and women headed to the battlefield.

Moawad's motivational approach is elegant but refreshingly simple: He replaces hardwired negativity, the kind of defeatist mindset that's nearly everybody's default, with what he calls "neutral thinking." His own special innovation, nonreactive way of coolly assessing problems and analyzing crises, a mode of attack that offers luminous clarity and supreme calm in the critical moments before taking decisive action.

5. Short Squeez Picks

6. Daily Visual: World's Oldest Constitutions
Year of introduction of the oldest constitutions still in place in the world in 2021

Source: Statista

7.  Daily Acumen: Key Food to Extend Your Lifespan by 5 Years

There was a study done on over 2,240 people over 65 years old for 11 years, it found that regular consumption of oily fish in your diet can increase your lifespan by almost five additional years. Omega-3 fatty acids in your red blood cells are a very good mortality risk predictor.

Omega-3 contributes to forming cell membranes, it reduces inflammation, decreases triglycerides, counters the omega-6 fatty acids that are in most of your foods, decreases your risk of certain types of cancer, can help reduce fat on your liver, decreases depression and anxiety, can decrease the risk of getting AHDH, can help with asthma, can decrease the risk of getting Alzheimer’s as well as increase your heart function.

Some of the best sources of omega-3 fatty acids include cod liver oil, salmon, sardines, fish eggs, mackerel, herring, English walnuts, chia seeds and algae.

Source: Dr. Eric Berg

8. Memes of the Day

*The information in this advertisement and the prospectus of Sweater Cashmere Fund is not complete and may be changed. We may not sell the Fund’s securities until the registration statement filed with the Securities and Exchange Commission is effective. This presentation is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus contains this and other information about the Fund and can be obtained by 1.888.577.7987 or emailing support@sweaterventures.com and should be read carefully before investing. All investing involves risks, and past performance is no guarantee of future results.

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