#194 - The Business of Top Golf and RIP To Sam Zell, The Greatest Real Estate Investor To Ever Live

Reformed Millennials - Learn Earn and Invest

Listen in podcast app and follow below for the podcast topic arc.

* NBA and NHL finals are upon us… who cares?

* The business of Top Golf

* How to make money drafting the momentum of sector shifts

* Market update

* Canadian housing and the Alberta election

* Recommendations and Predictions

Listen on Apple, Spotify, or Google Podcasts.

📈📊Market Update💵📉

The Transcript twitter thread explains what happened in markets last week or check out their audio episode here:

The Nasdaq is at 13 month highs but the financial headlines continue to be gloomy.

Everyone this year has been talking about bonds, inflation and real estate crisis. Now the debt ceiling is getting its day in the sun and I recommend listeners and readers go and check out our recommended reads this week. Matt Levine kills it with his most recent post.

To distill where we currently are in the market, I want people to check out the rotation report here as I felt they did a really good job discussing this market and what the participants are pricing in.

💸Reformed Millennials - Post of The Week

Best blog post we read this week: from Morgan Housel - Vicious Traps

There are times in nature when two plus two equals ten – when two little things combine to form one huge thing.

A little cool air from the north is no big deal. A little warm breeze from the south is pleasant. But when they mix together over Missouri you get a tornado.

Two calm water currents are not a problem. But if opposing currents meet, you get a deadly whirlpool.

Bleach and ammonia are common household products. Mix them together and you get lethal chloramine gas.

In each case it’s easy to underestimate risk – or at least be surprised at what happens – because the initial ingredients seem harmless. The idea that two innocent small things can combine to form one big dangerous thing isn’t intuitive.

This same thing happens with personality traits.

…

The right balance is knowing what you’re good at and not being afraid to say it while being just as eager to share what you’re not great at.

🎙Podcast & YouTube Recommendations🎙

Our favourite video and audio content from the week:

Lunch with Sam Zell: Founders Podcast

Deepdive on Restoration Hardware: Business Breakdowns

Peter Zeihan on Deodorization: Three things to look for

* Size and huge volume requirements (Eur, Yen, Chinese Yuan, USD)

* Availability of currency

* Freely traded currency

Peter Attia appeared on the Chris Williamson Show:

* Hazard ratio’s, the importance of exercise > diet and more

🔮Best Links of The Week🔮

* Ughhh more about the debt ceiling - Source: Matt Levine

* RBCs 5 things showing the NA Labor markets are cracking - Source: RBC Special Report

* Bob Elliot explains the case for Gold In portfolios - Source: Unlimited Funds

* "The price of copper has widened to the biggest discount against its futures equivalent in almost two decades, in a warning sign of a sudden weakening in global demand as China’s economic rebound stalls. Copper for settlement in two days was $66 cheaper on Monday than buying a contract to deliver the metal in three months’ time, a difference that traders said reflected concerns that China’s industrial rebound was not materializing. The gap between the two prices is the largest since 2006, according to the London Metal Exchange." - Source: FT

* "Elon Musk said he sees the need for an artificial-intelligence business to rival Google and Microsoft that could involve different parts of his corporate empire, including Twitter, which he predicted could halt its losses as soon as next month." - Source: WSJ

👉 For specific investment questions or advice contact Joel @ Gold Investment Management.

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