Sep 27, 2021 Sign Up

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"Attention isn't free. It's the most valuable thing you spend." – Shane Parrish

Good morning! Hope y'all had a fantastic fall (?) weekend. After a 3-year experiment, Elon Musk and Grimes have called it quits. "We are semi-separated but still love each other, see each other frequently, and are on great term," said Musk. In classic NYC fashion, cops last week seized seven illegally documented vans that have been used for at least two years as cut-rate Airbnb rentals. "Glamp in a spacious camper Van in NYC!" gushed one ad.

If you are looking to invest in venture capital, check out Sweater Ventures. 

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1. Story of the Day: Golf's Brightest Hour

Golf is surging in popularity and it's more than a pandemic story. More than 24.8 million people played golf in the US in 2020, up more than 2% year-over-year and the largest net increase in 17 years. The sport also saw the largest percentage increase in beginner golfers and youth golfers since 1997.

The average number of rounds played by golfers grew to 20.2 in 2020, an all-time high since NGF started tracking that statistic in 1998 — younger golfers, and especially female players (8% increase), saw significant upticks.

Golf equipment and apparel has seen massive growth, with golf brands like Callaway and Titleist notching record sales. Acushnet’s (owner of Titleist and FootJoy)  second-quarter net sales in the US grew 117%.

In May, South Korean private equity firm Centroid Investment Partners acquired TaylorMade Golf for $1.7 billion, the largest acquisition in the golf goods industry to date. TaylorMade, only 4 years ago was sold to KPS Capital Partners by Adidas in 2017 for $425 million.

Golf is also moving beyond the typical 18-hole course, and more consumers are playing the sport at entertainment venues like TopGolf or on virtual simulators. In addition to the 24.8 million people who played a round of golf on a course in 2020, another 12.1 million participated in an “off-course golf activity," such as TopGolf.

Short Squeez Takeaway: Golf is exploding in popularity across all mediums, which is great news for the professional sport as well. In April, the final round of The Masters averaged 9.45 million viewers on CBS, up 69% from 2020. It also looks like things are only going to get better for golf as people are expected to embrace healthier living post-pandemic.

Source: CNBC

2. Markets Rundown

• Stocks staged a turnaround this week after experiencing the worst day in months, as fears related to Evergrande Group faded and the Fed gave no indication that it will reduce economic support faster than expected.

Movers & Shakers

• (+) Cheesecake Factory ($CAKE) +5% after it said earnings and revenue for 2022 will be much higher than analysts expected.
• (+) Match.com ($MTCH) +4% after announcing that it will sell shares of its common stock in a registered direct offering.
• (–) Nike ($NKE) -6% after cutting full-year guidance for sales growth.

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: Between Shades of Gray

Fifteen-year-old Lina is a Lithuanian girl living an ordinary life -- until Soviet officers invade her home and tear her family apart. Separated from her father and forced onto a crowded train, Lina, her mother, and her young brother make their way to a Siberian work camp, where they are forced to fight for their lives.

Lina finds solace in her art, documenting these events by drawing. Risking everything, she imbeds clues in her drawings of their location and secretly passes them along, hoping her drawings will make their way to her father's prison camp. But will strength, love, and hope be enough for Lina and her family to survive?

An international bestseller, a #1 New York Times bestseller, and now a major motion picture!

5. Short Squeez Picks

6. Daily Visual: The Submarine War
Number of military submarines in service by country

Source: Statista

7.  Daily Acumen: James Webb Space Telescope

The James Webb Space Telescope will be 100 times as powerful as the Hubble and it will change how we see the universe. The launch, which will propel the Webb to nearly a million miles away, is now scheduled for December 18, 2021. When it fully deploys in space, the Webb will usher in a new age of astronomy, scientists say, and show humanity things it has never seen before.

The Webb was originally supposed to launch in 2010 and cost around $1 billion. Its price tag has since ballooned to $10 billion. But the wait will be worth it, at least according to the scientists who expect new and revealing glimpses of our universe.

Source: Vox

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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