Hello and welcome to a special Wednesday edition. Have a happy & safe 4th this week y'all 🇺🇸

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(And to the non-American readers - BACK TO WORK 🤣)

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Here's what's in this week's issue...

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→ Someone owns some US history.

→ How do interest rates affect inflation?(no one knows)

→ The secret marketing sauce of Korean brands.

→ Following Roaring Kitty is a good way to lose.

→ The opportunity cost of hoarding cash.

→ Howard Marks' mind.

→ 52 week lows, ETF to consider & more.

🇺🇸

In the summer of 1776, the air thick with talk of independence, a printer named John Holt took it upon himself to do something different.

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Just a week after the original Declaration of Independence was first printed, Holt created his own unique version.

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He filled an entire page of his newspaper with the Declaration, set in a decorative layout, and encouraged readers to cut it out and display it in their homes.

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Earlier that year, the Continental Congress was embroiled in heated debates. Some delegates were cautious, hoping for reconciliation, but fiery advocates like John Adams pushed for independence.

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Thomas Jefferson was chosen to draft the Declaration.

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After input from Adams and Franklin, the document was approved on July 4, though the famous handwritten version wasn’t ready yet.

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John Dunlap was the first to print the Declaration, but Holt followed with his special edition a week later. Despite the advancing British forces, Holt's newspaper showcased the Declaration with pride.

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There are only 5 known copies of Holt's version in the world, and one was auctioned last week and now privately owned.

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Happy 4th.

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Betting the cut?

→ TLT Investors are pouring money into long-term bonds, expecting the Fed to cut interest rates soon. The iShares 20+ Year Treasury Bond ETF saw a record $2.7 billion investment in one day, reflecting hopes for economic slowdown and gains from lower rates. [Read]

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Beat Professional Fund Managers

→ VOO An S&P 500 index fund, such as the Vanguard S&P 500 ETF (VOO -0.39%) can expect better long-term returns than most active mutual funds. [Read]

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Fund of funds

Top fund-of-funds ETFs for 2024 according to research from Will Ashworth. [Read]

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→ GAL SPDR SSgA Global Allocation ETF

→ GXTG Global X Thematic Growth ETF

→ FV First Trust Dorsey Wright Focus 5 ETF