Finimize - 😏 Uber finally posts a profit

Hi Reader, here's what you need to know for November 8th in 3:09 minutes.

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Today's big stories

The US economy added more jobs than expected last month
One famed finance professor has created a list of superstar stocks that have historically made investors most of their money – Read Now
Uber reported mixed results, but at least the ride-hailing app finally scored a profit

Desperate Measures

What’s Going On Here?

Data out on Friday showed the US added a better-than-expected 531,000 jobs last month, even if once-confident companies have started to get a little… needy.

What Does This Mean?

It’s been a rough few months for the US job market, with the previous two updates falling short of expectations. But things were back on track in October, as the US added 18% more jobs than expected last month and its unemployment rate fell to 4.6% – a new post-pandemic low (tweet this). The leisure and hospitality sector had a lot to do with that, adding more jobs than any other industry. But carmakers played their part too: they’ve been hiring more to keep up with demand, helping drive employment in factories up by the most since June last year.

Why Should I Care?

For you personally: What goes around…
Companies are used to calling the shots in interviews, but no more: there are so few people looking for work and so many vacancies that prospective employees are finally able to demand more money. So it follows that average hourly earnings climbed by almost 5% last month compared to the same time last year – the biggest rise since February. Trouble is, higher wages might come back on you in different ways: rising costs could push companies to raise prices to protect their profits, so you might have to foot the bill anyway.

The bigger picture: The Fed’s in a Catch-22.
The Federal Reserve described America’s situation as “complicated” last week, which is probably a bit of an understatement. Those rising prices, after all, might force the central bank to lift interest rates to keep inflation from spiraling out of control. But it’s also keenly aware that rate hikes will make businesses less inclined to spend money on, say, hiring – and given that there are still more than 4 million fewer jobs than before the pandemic, that’s not exactly something it wants to discourage.

You might also like: Twitter CEO Jack Dorsey has a point about inflation…

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Analyst Take

How To Spot A Stock Market Superstar

Reda, Analyst

What’s Going On Here?

You might not have heard of Hendrik Bessembinder, but the finance professor’s research is an investor must-know.

See, Bessembinder analyzed roughly 26,000 stocks listed between 1926 and 2016, and found that more than half lost money or did worse than simply holding cash.

By contrast, around 1,000 stocks – or just 4% of the entire sample – accounted for all the net shareholder wealth creation over the period. That’s almost $35 trillion worth.

In other words, a small number of superstars account for all the wealth created in that period. The rest are duds whose losses were just outweighed by the moonshots’ gains.

But here’s the thing: you can draw out a pattern if you look at the list of superstar stocks, and make sense of where they tend to come from.

So that’s today’s Insight: what the superstar companies are, what they all have in common, and what they mean for your own investing approach.

Read or listen to the Insight here

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