Aloha Friends!

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What a week! Some people's jobs I just do not envy! Here's what we're serving up this week...

• Ark Invest's major league miss
• What's in the proposed debt ceiling agreement, and the trickle down effects
• Ai managed funds, and Ai stock pickers
• Other economies showing cracks
• Neuralink takes one more step towards bringing The Matrix to life

Let us begin...

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Interviewer: Tell us about a time when you made a $200 million dollar mistake, and what did you do about it?

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Sometimes being wrong once, no matter how many times you've been right previously, is all it takes to be the talk of the town - at least in the stock picking world.

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Cathie Wood's Ark Invest dumped their entire position in Nvidia RIGHT before a 160% uptick - oops. Not that Ark is doing poorly by any stretch, outperforming the S&P 500, but that is some serious schmoozing and butt-kissing to investors to explain her way out of that one, while also convincing them there are still aces up their sleeves.

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Wood's defence was largely citing concerns over the cyclical nature of the chip industry, growing competition, shortages, and Tesla, Meta, and Google developing their own chips. Not totally incorrect, but still, Ark dropped Nvidia, while others maintained exposure, and that's a $200 million dollar miss (for now). Wood also emphasized the firm's pivot to 'undiscovered plays' as well as expressing interest in Meta's Ai focus.

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🗞️ BUSINESS & FINANCE STUFF

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🤑 We have a debt-ceiling agreement. Thank god.

But here's also a look at some possible downsides of such an agreement. Unique circumstances today could lead to major consequences after an agreement is reached. A surge in debt issuance, diminishing demand for Treasuries, and the potential intervention of the Fed as a buyer of last resort escalate the debt problem concern - gold anyone?

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🤑 JPMorgan Chase is developing an AI tool to help investors pick stocks. They filed a trademark application for "IndexGPT," which could potentially handle everything from marketing to administrative tasks. Yet another profession worried about Ai takeover? (Paywall removed with 12ft.io)

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🤑 Euclidean's AI-powered ETF hunts for undervalued stocks like a financial Sherlock, using machine learning and fundamental analysis to uncover hidden gems in the US market.
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🤑 Qraft Technologies has introduced the QRAFT "Ai-Pilot U.S. Large Cap Dynamic Beta and Income ETF" - Yep, a fully Ai managed ETF. It uses its proprietary Ai risk model to optimize allocation and mitigate downside.

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🤑 GPT-4 has the edge on Bard in a creative Chess match, but if we put the two head to head, who would be the best stock picker, ChatGPT or Bard?

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🤑 BTC is losing its monthly mojo as inflation fears deflate, leaving it in need of a fresh driver (i.e. narrative) to lift its sagging price.​

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🤑 If you thought the USD was the only currency in trouble, economy saving measures happening in Sweden, rate hikes in Israel, and now Japan is holding emergency meetings...and?? Who's next?

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🤑 They came, they saw, and they torpedoed half their potential returns. Tactical allocation funds of funds would have earned twice as much if their managers didn’t trade over the past decade.

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🤑 Nvidia is taking autonomous driving to a new level by patenting technology that acts as the car's therapist, identifying and fixing issues before anything happens.

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🤑 Neuralink gets FDA approval for human trials, wuuuuut? Revolutionizing the future merging brains with computers and 'probing' the boundaries of ethics, this is science non-fiction.

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🖥️ Ai STUFF AND COOL TOOLS

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♦︎ This is going to fun colorizing and bringing old photos to life. Grandma is going to be using Ai before you know it!

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♦︎ Is this is interesting, or is this going to be another noisy, distracting "productivity" tool? Hard to tell, but Katch's call summary with necessary action points is interesting.

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♦︎ Super cool new tool - not quite sure of all its uses, I feel like I'd just take a picture with my phone if I really wanted one in that moment, but I'm sure the tech will lead to something awesome...

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Bjørn Karmann @BjoernKarmann Introducing – Paragraphica! 📡📷 A camera that takes photos using location data. It describes the place you are at and then converts it into an AI-generated "photo". See more here: bjoernkarmann.dk/project/paragr… or try to take your own photo here: paragraphica.bjoernkarmann.dk pic.twitter.com/23kR2QGzpa May 30th 2023 3,435 Retweets 15,613 Likes

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🏠 REAL ESTATE STUFF

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🏠 Leverage your crypto to buy a house - what could go wrong?

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🏠 Realtors are seeing the writing on the wall and leaving the housing market - over 60,000 exiting the sector in the past six months. Sales and prices are waaaay down, add rising mortgage interest rates to that equals lower commissions and less opportunity.

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MEMBERS ONLY👇

Not a member? Fix that and join the waitlist here.​

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💣 ICYMI - BIG changes are coming to the membership community this summer! They are, really, not joking!

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If you're not a member click the link above☝️and get on the waitlist now, as we'll be opening to new members very soon!

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Great chats and threads from the Discord you may have missed…

• Sam is testing a new SEO content creation tool that might be worth a look.​
• Rob dropped in Microsoft's announcement video of Co-pilot for Windows coming this month.
• Travis and Dom give us a recap of Capital Camp.
• Dustin, Tony, and Dana update on their supplements and levels tracking.
• Rob provides some great value on Sean's newsletter direction
• Biiiiig day on the markets for Dom!

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In the forum...

• ​Travis held an open, casual group chat for members on the 31st, might turn it into a regular thing - stay tuned for updates on that.
• The Marketplace is updated every week with new curated online business acquisition deals - Saas, Websites, Apps, Agencies, & Ecom businesses.
• Members can access recordings of all our Fireside Chats anytime here.​

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Disclaimer: Not financial, investing or tax advice. This newsletter is strictly for information, entertainment and education purposes. Nothing in here is investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your professional advisors. Do your own research. There will also be affiliate links in here from time to time because we like free money.