Finimize - 🔮 Peek at Fidelity’s forecasts

Hi Reader, here's what you need to know for November 21st in 3:13 minutes.

🥊 You wouldn’t fight a champion boxer with one hand tied behind your back, so you shouldn’t ignore half your asset options while going toe-to-toe with a recession. Join ICG’s Colm Walsh for Investing Beyond Stocks And Bonds During A Recession next Monday, and find out how private equity can add some power to your portfolio’s punch. Grab your free ticket

Today's big stories

Key Twitter workers called Musk’s bluff and left the firm
Fidelity has a bad feeling about the next year, but a good one about these investing opportunities – Read Now
September’s UK pension fund crisis barely nicked Legal & General’s profit

Bye Bye Birdie

What’s Going On Here?

Elon Musk demanding Twitter employees roll up their sleeves or toddle off hasn’t gone down well, with a spate of resignations reported late on Thursday.

What Does This Mean?

When Musk told his Twitter employees to go big or go home, he was probably counting on them sucking it up and sticking around. But instead, a bunch of key engineering kingpins have called his bluff and are bidding farewell to the birdhouse. And that spells trouble: engineers are the mechanics who keep Twitter’s engine well-oiled, after all, and their sudden sayonara prompted whispering that the platform could grind to a halt. That forced the world’s richest man to soften his stance on remote working – but he’ll probably need to backpedal even further than that.

Why Should I Care?

Zooming out: What a difference a year makes.
Musk’s rough-and-ready approach at Twitter has caused chaos, but his wrecking-ball style would probably have left an even bigger trail of destruction a year ago. Tech’s wave of success was at its crest back then, meaning tech workers were a hot commodity. And faced with an ultimatum like Musk’s, staff would have found it a doddle to jump ships to a rival firm. But this year’s been hard on Big Tech, and with jobs rapidly disappearing, maybe those coders shouldn’t be so hasty.

The bigger picture: How to lose a team in 10 days.
The usual employee-retention playbook is pretty straightforward at tech firms: hail and hold employees with hard cash and perks galore. But if dough’s the only thing on offer, companies will come unstuck the minute rivals offer lusher terms. That’s why culture matters: we aren’t just money-making machines, we need a sense of belonging and pride in our work to stay motivated. Right now, Twitter might be showing its rivals exactly how not to crack the culture code.

You might also like: Big tech’s got issues, sure. But that doesn’t mean it’s over.

Copy to share story: https://go.finimize.com/wp/news/bye-bye-birdie/

🙋 Ask a question

Analyst Take

Fidelity Expects A Hard Landing, But These Opportunities Are Braced For It

By Jonathan Hobbs, Analyst

Fidelity just released a 56-page outlook report for 2023, but you don’t need to read all that.

I’ve summed up the key takeaways for you, and – spoiler alert – the outlook is hardly a lesson in positive thinking.

But it’s not all doom and gloom: after all, the resilient opportunities Fidelity’s spotted could cheer you up.

So that’s today’s Insight: why Fidelity expects a hard landing, and which opportunities are braced for it.

Read or listen to the Insight here

Finimize x Revolut

Pretty good stuff, right? Our analysts write Insights like this every day, and you can read every single one of them with Finimize Premium.

There’s no better time to get started: our new partnership means you can get six free months of Finimize Premium and three free months of Revolut Premium if you sign up for Revolut today.

We’ll even send you £10 (or equivalent) to your Revolut account to get you started.

Take your saving skills up a notch

Choosing the right savings account is more important than ever these days.

Good job, then, that you no longer have to settle for just one: you can now open multiple savings accounts from high-profile building societies and specialist banks with Raisin UK.

That means you can choose the percentages, perks, and pay-ins that best align with your financial goals, and you can do it all without keeping tabs on multiple accounts and platforms.

Put it all together, and you can get all the best bits of the different savings accounts on offer, with none of the extra hassle.

Start really saving with Raisin UK.

Check Out Raisin

Open to UK residents only.