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Today's big stories

Airbnb provided more details ahead of its stock market debut
A titbit in Goldman Sachs' latest annual outlook could point to a promising stock market opportunity – Read Now
Walmart reported better-than-expected quarterly results

1.

Live-In Legend

What’s Going On Here?

Airbnb published the prospectus for its long-awaited stock market listing late on Monday, and it’s fair to say it takes the “humble” out of “humble abode”.

What Does This Mean?

The paperwork Airbnb filed when it announced it’d be “going public” back in August was confidential, so this prospectus finally gave investors a look at what’s going on under the hood. And one of the most surprising revelations was that the company actually made a profit last quarter, even as the pandemic brought travel to a standstill. Airbnb put that down to heavy cost-cutting – particularly in marketing – as well as a pivot toward “staycations” (tweet this).

That resilience has proved itself in other ways too: Airbnb went from a $31 billion valuation in 2017 to just $18 billion in April this year, but it’s aiming to be back up to roughly $30 billion when it lists on the stock market in mid-December.

Why Should I Care?

The bigger picture: Pick me, pick me.
Airbnb’s initial public offering (IPO) is one of the most anticipated stock market debuts in the last few years, and it’d be the cherry on the cake that is this blockbuster year for IPOs. But given how busy December’s going to be for new listings, it might still have to vie for investors’ attention. Just last week Doordash filed its IPO paperwork: the food delivery app is hoping for a valuation of $25 billion – a long way from the $1.4 billion it was worth in 2018.

Zooming in: Control issues.
Both Airbnb and Doordash are issuing several types of shares that will give their holders’ different levels of voting rights. Their founders will get shares worth 20 votes each, for instance, while retail investors will have to make do with one vote per share. Voting structures like these help make sure the head honchos stay that way – and while investors do generally prefer a more equal approach, it’s not exactly put them off Google-parent Alphabet…

You might also like: Three things you should know before buying into Airbnb’s IPO.

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2. Analyst Take

How To Cash In On Banks’ Bad Year

What’s Going On Here?

In its latest annual outlook, investment bank Goldman Sachs flagged a steepening US “yield curve” as one of its key themes for 2021.

See, banks borrow money at short-term interest rates and lend money at long-term rates, and the difference between the two is the bank’s profit.

When the “yield curve” steepens, the difference between short-term and long-term rates widens, increasing those banks’ profit.

And that – alongside the fact that bank stocks are currently trading below the value of their assets – could make it a uniquely persuasive time to buy.

So first things first, let’s explain what a yield curve is snd how you can take advantage straight away.

Get the full insight here

🍑 Self-care starts from the bottom up

It’s been a crap year, but at least TUSHY have your backside.

Just add one of their premium bidet attachments to your toilet, and you’ll get to enjoy the classiest of dumps. And it’s not just about having a spotless rear: the average person spends over $10 a month on toilet paper, and plows through 57 sheets a day.

Put simply, TUSHY saves your planet, your pocket, and your pooper. And today, you can get 10% off your order and free shipping – no ifs, all butts.

Let’s Doo It

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3.

Shopping Spree

What’s Going On Here?

No matter what the pandemic’s had in store, Walmart’s stores have had something better: the retail chain reported better-than-expected quarterly earnings on Tuesday.

What Does This Mean?

The pandemic’s had a massive impact on the way Walmart’s customers shop: it’s not just that they’re more likely to stock up in bulk when they visit its stores, it’s that they’re now more likely to avoid them altogether in favor of the – checks notes – world wide web. And that showed in Walmart’s update: the company’s US ecommerce sales grew by 79% in the third quarter versus a year ago. And even though sales growth in US stores that've been open for at least a year didn’t break records like they did in the first and second quarters, they still jumped by a lot more than analysts were expecting – and without help from government stimulus checks this time around.

Why Should I Care?

For markets: Two can play at that game.
In September, Walmart launched Walmart+ – a membership service that gives customers free shipping on items including produce and grocery, and an unapologetic attempt to compete with Amazon Prime. But seeing as the company didn’t say much about the scheme in its update, investors will have to wait to find out how it’s been going. Meanwhile, Amazon is returning the favor: it launched prescription drug delivery service Amazon Pharmacy on Tuesday – a long time coming, considering the ecommerce giant bought American online pharmacy PillPack back in 2018.

The bigger picture: Ho ho oh no…
Good earnings aside, the rest of the year isn’t without its challenges for Walmart. Fresh data out on Tuesday showed US retail sales growing by just 0.3% in October compared to the month before, and that could slow even more as coronavirus cases rise and government benefits lapse. Just in time for the all-important holiday season too…

You might also like: How to tell a good retail stock from a bad one.

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🙋 Ask a question

💬 Quote of the day

“It is well to remember that the entire universe, with one trifling exception, is composed of others.”

– John Andrew Holmes (a poet and critic)

Tweet this

♻️ Leave your bank, change the world

Fossil fuels are notoriously dirty, and the top four US banks invest $210 billion a year in them. Not Aspiration though…

Aspiration’s a socially-conscious and sustainable financial firm, so you can spend, save, and invest guilt free. Your deposits won’t ever fund fossil fuel projects like pipelines, oil rigs, and coal mines. No dirty money here, no siree.

And if cleaning up the Earth wasn’t incentive enough, Aspiration is giving Finimizers $100: all you have to do is open an account and spend $1,000 in the first 60 days.

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🌍 Finimize Community

🤖 In blockchain we trust

Let’s face it, most people still aren’t clear what exactly blockchain is, how it affects their lives today, and how it’ll impact humanity’s future. So to give you something smart to say next time you see your boss, we’re explaining all of that and more with two of the Middle East region’s foremost blockchain experts next Wednesday.

🙋‍♀️ Women & Investing: 2pm UK Time, November 18th
📉 What’s Next For The African Economy?: 4pm Ghana Time, Nov 18th
😊 The Art of Finding The Joy of Money with Julia Newbould: 5.30pm Perth Time, November 19th
🤔 Avoiding the Common Pitfalls of Bonds: 11am Vancouver Time, November 23rd
🤖 The Rise of Blockchain: 7pm Dubai Time, November 25th
🚀 Next Gen Investor Summit: 12pm UK Time, December 1st

📚 What we're reading

RIP ethical consumerism (Atmos)
How to spot a liar (Lifehacker)
Soviet cyberspace is the place to be (Gizmodo)

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Finimize - 💰 Airbnb's billions 'n' billions

Today's big stories

Live-In Legend

What’s Going On Here?

What Does This Mean?

Why Should I Care?

How To Cash In On Banks’ Bad Year

🍑 Self-care starts from the bottom up

Shopping Spree

What’s Going On Here?

What Does This Mean?

Why Should I Care?

♻️ Leave your bank, change the world

🤖 In blockchain we trust

Older messages

🎉 Keep those vaccines coming

😧 Disney's crushing Netflix

🤫 Goldman writes off 2020

😢 Vaccines won't save oil

😬 Europe takes down Amazon

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