Prof G Markets: Goldman and Apple Part Ways, Shein and Temu, and Charlie Munger’s Legacy
Dec 4, 2023
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Scott discusses the contradicting narratives around Goldman and Apple's partnership, the fast fashion industry, and Charlie Munger's legacy.
42:06
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Quick takeaways
Apple is looking for a new finance partner as they plan to end their contract with Goldman within a year.
Tmoo, an online shopping app, has surpassed Shein in monthly US sales, indicating the popularity of discounted products directly from China.
Deep dives
Apple plans to end partnership with Goldman Sachs
Apple has handed Goldman a term sheet to end their contract in the next 12 months, seeking a new finance partner.
Tmoo app dominates US fast fashion market
Tmoo, an online shopping app offering heavily discounted products directly from China, has surpassed fast fashion retailer Shein in monthly US sales.
The legacy of Charlie Munger
Legendary investor Charlie Munger, known for his investment philosophy and one-liners, passed away at the age of 99. Munger served as vice chairman of Berkshire Hathaway and emphasized the importance of value investing and fundamental analysis.
Predictions: Nikki Haley rising as a viable alternative to Trump
Nikki Haley is predicted to gain momentum as a credible alternative to Trump in the Republican Party, supported by the Koch brothers. Meanwhile, a prediction for Linda Yaccarino's resignation from her position, citing clashes with Elon Musk.
Scott shares his thoughts on the contradicting narratives around Goldman and Apple’s partnership. He also discusses the fast fashion industry and its externalities. Finally, he takes a look at Charlie Munger’s legacy.