Finimize - 🕹 Nintendo’s on easy mode

Nintendo's going all the way to boss level | This deal might prove that money talks |

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Today's big stories

  1. Nintendo upped its full-year profit outlook, despite cutting its forecast for Switch sales
  2. This hedge fund giant is warning of a massive global calamity ahead – Read Now
  3. Gold miner Gold Fields’ deal to buy Yamana might have lost its shine

Nintendo’s Dodging Obstacles

Nintendo’s Dodging Obstacles

What’s Going On Here?

Not even the slipperiest of bananas could trip up Nintendo's quarterly results: the Japanese game maker upped its full-year profit outlook on Tuesday.

What Does This Mean?

The currency gods are smiling upon Nintendo right now: the yen’s fallen to a 30-year low against the US dollar, which is good news for a firm that makes 80% of its sales outside Japan and pays most of its software production costs in yen. Such good news, in fact, that you might overlook the fact that Nintendo sold fewer Switch consoles last quarter than at the same time last year. See, the firm actually reported a swish 18% uptick in operating profit last quarter, and – despite slashing this year’s forecast for Switch sales by 10% – upped its full-year profit outlook by a (Princess) peachy 18%.

Why Should I Care?

The bigger picture: Game plan.
The Nintendo Switch tends to see a tidy sales bump whenever a popular game hits the market, so some analysts expect its new Pokémon installment – due out later this month – to help knock this quarter’s results out of the park again. But the Switch has been on the market for six years now, and while Nintendo says demand’s still strong for the aging hardware, analysts are closely watching for signs of sluggish sales as supply constraints ease. That said, there is rumored to be a new, high-powered Nintendo Switch Pro in the works, which could boost the firm’s sales with the financial equivalent of a super-speed Mario Kart Rocket Start.

Zooming out: Sony levels up.
Nintendo’s Japanese rival Sony has had trouble producing the PlayStation 5 console ever since its release back in 2020, but it seems things are finally looking up for the firm. Sony announced last week that production went better than expected last quarter, and it’s now aiming to beat its annual sales target. Investors liked the sound of that, and sent Sony’s shares up 7% after the news.

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Analyst Take

Elliott Management Sees Hyperinflation Coming, And The Worst Crisis Since World War II

Elliott Management Sees Hyperinflation Coming, And The Worst Crisis Since World War II

By Russell Burns, Analyst

Elliott Management is by no means sugar-coating things.

In its most recent letter to clients, it warns that the world is hurtling toward crushing hyperinflation that could trigger the worst financial crisis since World War II and “global societal collapse”.

That might sound a touch apocalyptic, but the activist hedge fund – founded in the 1970s by billionaire investor Paul Singer – has a way of seeing things coming.

So it’s worth considering its latest warnings, and assessing how you might protect your portfolio just in case they’re right.

That’s today’s Insight: why Elliott sees hyperinflation, a staggering financial crisis, and global societal collapse just ahead.

Read or listen to the Insight here

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Yamana’s A Gold Digger

Yamana’s A Gold Digger

What’s Going On Here?

Gold-mining firm Gold Fields’ deal to buy rival Yamana Gold seemed to be in tatters this week.

What Does This Mean?

Gold Fields and Yamana seemed inseparable back in balmy late spring, cozying up in a deal that would see Gold Fields buy its rival, branch out into new countries, and become the world’s fourth-biggest gold miner in a single stroke. But it turns out their relationship was actually on rocky ground, with Gold Fields fighting to convince its shareholders to warm to the match.

Gold Fields’ precious metal rivals Pan American and Agnico Eagle were plotting in the meantime, and last week they swooped in to woo Yamana with a joint bid that came in about 15% higher than the original. Gold Fields said it wouldn’t compete, and Yamana – clear-eyed and unsentimental – quickly announced it would encourage shareholders to vote against Gold Fields’ offer.

Why Should I Care?

For markets: Flash the cash.
Here’s the thing: after share price movements in recent days, the value of the two offers were pretty much on par at the start of this week. The real sticking point here, then, might’ve been the type of deal. See, Gold Fields’ proposal was an all-share deal, but those shares have lost about 40% of their value since the announcement of the offer in May. Agnico-Pan American’s offer, meanwhile, was made up of cash and stock – that cash portion being a safer short-term bet these days. So if Gold Fields wants to win Yamana back, it might have to put some money on the line.

The bigger picture: Gold’s in the pits.
The battle to acquire Yamana sheds some light on the less-than-glittering gold industry. See, the strong dollar and rising interest rates are hitting gold’s price, which – on top of swelling costs – is dimming gold’s once-shining revenues. Add in the fact that new gold deposits are thin on the ground, and it’s no wonder that miners are looking to acquisitions to shore up income and production.

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💬 Quote of the day

“Nobody can be exactly like me. Sometimes even I have trouble doing it.”

– Tallulah Bankhead (an American actress)
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🌍 Finimize Live

🥳 Coming Up This Week…

All events in UK time.

How To Profit From Special Situations As A Value Investor: 5pm, November 9th
🔧 Tools Value Investors Use For Turbulent Times: 6pm, November 10th
🔥 How To Build Better Financial Habits In Your 20s & 30s: 3pm, November 11th

👀 And After That…

♻️ How To Build An Eco-Friendly Crypto Portfolio: 1pm, November 14th
💥 How To Diversify During High Inflation: 6pm, November 14th
🐻 How To Survive A Crypto Bear Market: 7pm, November 15th
How To Successfully Invest In Dividend Stocks: 6pm, November 22nd
🚀 2023 Outlook: What’s Next For Crypto?: 6.30pm, November 23rd (in person, London)
🌍 Finding Opportunities In A Challenging Market With BlackRock: 1pm, December 2nd
🇦🇪 The Modern Investor Opening Party In Dubai: 6pm, December 6th
🎉 Modern Investor Summit: 12pm, December 6th – 7th

🎯 On Our Radar

  1. Memeing the Middle Ages. This Tumblr girl is popularizing weird medieval art.
  2. This has a special ring to it. This wearable jewelry could optimize your health – for a hefty price.
  3. We’re getting animated. Japan’s anime fans are furious about AI-powered art.
  4. Sorry, kids. Our future generations might need to learn to admire a damaged planet.
  5. Maybe you’re not color blind, after all. Your culture can change the way you see colors.
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