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Lego announced double-digit sales growth | BOE stepped in to rescue British markets |

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Today's big stories

  1. Lego reported bumper sales growth in the first half of the year
  2. A crypto hedge fund CEO offers five key insights into the market's future – Read Now
  3. The Bank of England is buying up bonds to stabilize British markets

Lego’s Growing Brick By Brick

Lego’s Growing Brick By Brick

What’s Going On Here?

On Wednesday, Lego reported strong sales growth in the first half of the year.

What Does This Mean?

With real bricks and mortar looking pretty unappealing right now, consumers seem to be finding solace in bricks of another kind: yes, we’re talking about Lego, a favorite plaything of kids across the globe and an age-old nemesis of adults' bare feet. In the first six months of the year, the toy manufacturer opened 66 new stores, mostly in China, helping to boost sales by 17% versus the same period last year. (Financial wizardry due in large part to enthusiasm for Lego’s Harry Potter and Star Wars sets.) That said, profits didn’t quite keep in step: investments in digital offerings and sustainable manufacturing processes sapped cash, as did higher raw material and energy costs –  meaning the Danish toymaker’s profit didn't actually grow in the period.

Why Should I Care?

The bigger picture: A winning strategy.
Lego, the world’s biggest toymaker outside the North Pole, has reaffirmed its position as the titan of the toy industry. It boosted its market share in key regions every month in the period, leaving the wider industry – whose size grew by just 1% – eating dust (tweet this). See, unlike many rivals, Lego keeps manufacturing close to where it sells, so global supply chain trouble has been a non-issue for the firm. And unlike competitors, the toymaker hasn’t upped its prices in recent months –  keeping its wide range of products attractive to adults and kids alike.

Zooming out: More bricks to come.
Lego doesn’t intend to rest on its laurels either: the company’s planning to spend over $1 billion on a US factory to keep up with customer demand – its seventh manufacturing site worldwide. The ribbon-cutting’s scheduled for the second half of 2025, when the green factory – powered by an onsite solar park – will start churning out its portion of Lego’s 100 billion yearly bricks.

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Analyst Take

Why Pantera Capital’s CEO Sees A New Dawn For Crypto

Why Pantera Capital’s CEO Sees A New Dawn For Crypto

By Jonathan Hobbs, Analyst

When you’re the CEO of one of the oldest and biggest crypto hedge funds in the world, a lot of people want to know what you think.

Dan Morehead runs Pantera Capital, which has been around since 2013 and has $4.5 billion invested in digital assets

He recently sat down to share his thoughts on the crypto market – how it might fare in the current economic mess, and where the opportunities might be

That’s today’s Insight: why Pantera Capital’s CEO is bullish about crypto.

Read or listen to the Insight here

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Survivor’s Gilt

Survivor’s Gilt

What’s Going On Here?

The Bank of England (BoE) announced emergency moves to rescue the bond market on Wednesday.

What Does This Mean?

The British economy has been less stable than Kanye West’s love life lately, with investors – eager to rid themselves of UK assets – knocking government bonds into free fall and sending pension funds’ holdings down with them. That’s bad news: pension funds implement some strategies using debt, and the current selloff means that brokers are asking for more collateral to cover those potential losses – in what are known as margin calls. But that’s got the BoE all sweaty and nervous: if pension funds started selling off investments to raise cash, it could hit prices even more and sink the market altogether. So, in order to prevent a full meltdown (and salvage millions of Brits’ hard-earned pensions), the BoE announced that it’s stepping in and buying up bonds on “whatever scale necessary” to stabilize markets. The effect was immediate: when the news broke, 30-year bonds headed for their biggest rally on record.

Why Should I Care?

The bigger picture: Why are you hitting yourself?
This all puts the BoE in a weird position: see, by buying bonds en masse, the BoE’s flooding markets with cash, a step that’s normally inflationary – but at the same time, it’s hiking rates in a bid to calm inflation. Whatever happens next, then, one thing’s pretty sure: the central bank will have to be even more aggressive with interest rate hikes from now on – which could hit economic growth even harder.

For markets: Hunting season.
The UK’s dire economic situation means it could be open season for takeovers by overseas buyers. After all, low valuations, a sinking pound, and favorable regulations have made British firms attractive targets – so it’s no surprise that 70% of top takeover picks are British right now, according to a recent poll.

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💬 Quote of the day

“We must believe in luck. For how else can we explain the success of those we don’t like?”

– Jean Cocteau (a French writer, artist, and filmmaker)
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All events in UK time.

🇺🇸 What’s Next For The US Economy?: 1pm, September 29th
🌍 How To Profit From A Net Zero Future: 5pm, September 29th
🕵️‍♀️ How The Pros Navigate Stock Market Volatility: 5pm, October 6th
🏡 The Pathway To Property Investing In 2022: 12pm, October 11th
📈 How To Invest Like Warren Buffett: 6pm, October 12th
🙋‍♀️ Ladies Investing Club Meetup: 6.30pm, October 12th (in-person)
💸 How To Understand The True Value Of Crypto: 6pm, October 17th
💻 How To Invest In Tech Stocks During A Recession: 5pm, October 18th
🎧 How To Invest In Music NFTs: 6pm, October 24th
🏆 How To Spot Investment Opportunities In Gold: 12pm, October 27th
🚀 Modern Investor Summit: 12pm, December 6th-7th

🎯 On Our Radar

  1. Innovating for good. This Ukrainian teenager just created a bomb-finding drone.
  2. Can tapping yourself improve your mood? Maybe if you’re trying to get over a breakup.
  3. Rise of the robots. Amazon’s robo-workers are getting more and more capable.
  4. Yang’s Botometer. One PhD student’s side project could settle the Musk/Twitter imbroglio.
  5. Reflecting on interior design. The mirror wall is having a moment.
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