Discussion on the market's incredible November, the breakup of Apple and Goldman Sachs' credit card partnership, thoughts on Tesla's Cybertruck, trends in holiday spending, and analysis of stocks like Docusign and EPR Properties.
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Quick takeaways
The impressive performance of the market in November, with significant gains in various indices and real estate investment trusts, suggests a positive trend in the economy.
The end of the Apple and Goldman Sachs credit card partnership highlights the importance of carefully considering terms and demands when establishing collaborations.
Deep dives
Strong Market Performance in November
The podcast highlights the impressive performance of the market in November, with significant gains in various indices such as the S&P 500, Nasdaq 100, and Russell 2000. Real estate investment trusts (REITs) also experienced a positive month. Additionally, the classic 60/40 portfolio, which allocates 60% to stocks and 40% to bonds, had its best month in over three decades. The podcast notes a general focus on managing expenses and improving efficiency among companies, with a particular emphasis on the technology sector. The Federal Reserve's recent comments regarding potential future rate increases are also discussed.
The podcast covers the end of the credit card relationship between Apple and Goldman Sachs. The decision is seen as a mutual agreement that benefits both parties. It is suggested that Apple's card aspirations were aimed at acquiring more customers and fostering brand loyalty, while Goldman Sachs saw potential in partnering with a prominent technology company. However, the collaboration did not meet expectations, and both parties felt it was best to move on. The podcast speculates on the possibility of Apple establishing a new partnership in the future and advises any potential partner to carefully consider their terms and demands.
Tesla's Cybertruck Unveiled
The podcast highlights the unveiling of Tesla's Cybertruck, which had been anticipated since the concept was introduced in 2019. The Cybertruck is expected to be a unique and innovative addition to the electric vehicle market, with its bold design and advanced features. The podcast notes that while some details announced in 2019 may have changed, demand for the Cybertruck remains high, with over a million reservations already made. The market for electric vehicles, particularly trucks, has changed significantly since the concept's inception, and the success of the Cybertruck will depend on consumer adoption and the ability to address potential challenges, including infrastructure and customer preferences.
Reflecting on the Legacy of Charlie Munger
The podcast pays tribute to Charlie Munger, Vice Chairman of Berkshire Hathaway, who recently passed away at the age of 99. Munger is widely regarded as one of the greatest investors of all time, and his partnership with Warren Buffett has been instrumental in Berkshire Hathaway's success. Munger's track record and long-term compound annual growth rate are highlighted, emphasizing the significance of his contributions. The podcast acknowledges Munger's focus on long-term investing, holding great businesses, and having faith in the power of compounding. Munger's wisdom and investment lessons continue to be highly regarded and influential in the financial community.
November was a party for stocks and bonds, but is Jerome Powell about to turn the lights on?
(00:21) Jason Moser and Matt Argersinger discuss:
- The market’s incredible November and why we may not be out of the woods yet on rate hikes.
- Why Apple and Goldman Sachs are breaking up their credit card partnership.
- Thoughts on Tesla’s Cybertruck and the new details we have after this week’s showcase.
(19:11) Adobe Insights Vivek Pandya talks through the trends he’s seeing so far in holiday spending and whether it makes sense to buy now or wait for some of the items on your list.