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- Grow Smart Income - week 39 ver.2, 2024
Grow Smart Income - week 39 ver.2, 2024
What happened this week?
Kaloian Parchev
September 27, 2024
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Good day valued readers,
We hope this week's carefully curated selection of news finds you well. In this edition, we cover the latest developments across investing, finance, crypto, AI, and other topics to help you stay informed.
As always, our goal is to provide you with a professional, unbiased roundup of noteworthy news to augment your understanding of what's happening in the world. We take pride in hand-selecting articles from trustworthy sources across a diverse range of industries.
Please enjoy this week's newsletter. We're grateful for the opportunity to share these insights with you and look forward to continuing to be a valuable resource.
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Investing and Finance
Welcome to this week's financial roundup, where we explore the latest market trends, corporate developments, and economic insights. From stock market movements to personal finance wisdom, we've got you covered. Palantir and Dell are making waves with their S&P 500 index inclusion, while Super Micro's stock split catches investors' attention. We'll dive into the ongoing saga of the "Roaring Kitty" and his GameStop-fueled fortune. The Federal Reserve's interest rate decisions take center stage, prompting discussions on their impact on the economy and your portfolio.
We'll also tackle the age-old question: can a six-figure salary truly alleviate financial stress? From the resilience of physical cash to the soaring China-focused ETFs, our coverage spans diverse economic landscapes. We'll even touch on Levi's unexpected connection to Beyoncé and glean frugal habits from a self-made millionaire. Tech giants like Microsoft, Google, and Nvidia feature prominently in our analysis, showcasing the ever-evolving dynamics of the tech sector. Finally, we'll explore the factors behind gold's record-breaking performance and examine Microsoft's top shareholders.
Palantir Stock Rises, Dell Shares Fall After Joining S&P 500 Index - Read more
What You Need to Know About Super Micro's 10-for-1 Stock Split - Read more
Roaring Kitty’s Net Worth Includes More Than Just GameStop Stock - Read more
What the Fed Rate Cut Means For the Economy - Read more
Interest Rate Cuts: A Blessing or a Curse for Your Stocks? - Read more
Would a Six-Figure Salary Soothe Your Financial Fears? - Read more
Why the U.S. won’t change physical cash - Read more
This is Why China-Focused ETFs, Stocks Are Soaring on Tuesday Morning - Read more
Levi's Has Some Bad News. And Some... Beyonce News? - Read more
40-year-old self-made millionaire: 5 frugal habits I’ll never quit - Read more
Bill Gates shares the single-minded attitude he used to grow Microsoft: I focused my life ‘just on the one job’ - Read more
Here's How Much Nvidia Stock CEO Jensen Huang Has Sold Lately - Read more
Most Americans Wish They'd Learned About Money In School - Read more
Google Accuses Microsoft of Anticompetitive Cloud Practices - Read more
Nvidia expected to produce 450,000 Blackwell AI GPUs in Q4 - potential $10B in revenue for the chipmaker - Read more
Why Gold Continues to Hit Record Highs - Read more
Top Microsoft Shareholders - Read more
"Anti-social behavior is a trait of intelligence in a world full of conformists."
Crypto News
Welcome to this week's crypto and blockchain update, where we explore the latest developments in the digital asset space. Coinbase takes center stage, challenging the SEC on regulatory clarity while also expanding its reach to the Solana network. The cryptocurrency mining sector sees a resolution as Bitfarms and Riot announce a settlement. In an unexpected twist, a GameStop customer strikes gold—or rather, Bitcoin—through a simple pack of trading cards. The aftermath of the FTX collapse continues to unfold, with Caroline Ellison receiving her sentence for her role in the fraud.
European expansion is on the horizon for Kraken as it acquires Dutch broker BCM. PayPal makes waves by enabling crypto transactions for U.S. business accounts. We'll delve into China's thriving underground crypto market, which is attracting billions despite economic challenges. The intersection of traditional finance and crypto becomes more apparent as institutions explore Bitcoin-backed lending. Security remains a pressing concern, as evidenced by the recent hack of Coinbase Ventures-backed Truflation. Lastly, we'll examine Telegram's strategic moves in the UK as it seeks regulatory compliance for its wallet service.
Coinbase Urges Court to Force SEC’s Hand on Digital Asset Rules - Read more
Bitfarms and Riot Announce Settlement - Read more
How a GameStop Customer Won a Full Bitcoin in a $33 Pack of Trading Cards - Read more
Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years in Prison for Her Role in FTX Fraud - Read more
Kraken acquires Dutch broker BCM as part of European expansion - Read more
Coinbase announces plan to bring cbBTC to Solana network - Read more
PayPal Enables U.S. Business Accounts to Buy, Hold and Sell Crypto - Read more
China’s Shadowy Crypto Brokers Lure $75 Billion as Economy Toils - Read more
Financial institutions are experimenting with Bitcoin-backed lending - Read more
Coinbase Ventures-backed Truflation hacked for about $5 million, says ZachXBT - Read more
Telegram Wallet Disabled in UK as Developers Seek FCA License - Read more
"You don't overcome challenges by making them smaller but by making yourself bigger."
Artificial Intelligence
Welcome to this week's AI and technology roundup, where we explore the latest developments in artificial intelligence and its impact across various sectors. We begin with a critical look at ChatGPT's influence and the broader implications of large language models. Alibaba and Nvidia's collaboration promises advancements in autonomous driving, while an AI system demonstrates its ability to consistently beat CAPTCHA tests. OpenAI introduces its Academy initiative, aiming to foster AI innovation in developing countries.
The entertainment industry sees intriguing developments with Andy Serkis teasing AI characters and James Cameron joining Stability AI's board. Privacy concerns come to the forefront as LinkedIn halts AI data processing in the UK, and Cloudflare empowers content creators against AI bots. We'll examine the environmental impact of AI, considering its substantial power and water consumption. Intel unveils new AI solutions, while Apple's Siri update faces potential delays. In archaeological news, AI aids in discovering Nazca drawings in Peru.
OpenAI's ambitious plans for data center expansion and predictions of imminent AI superintelligence raise both excitement and concerns. We'll also touch on the troubling trend of AI-translated Hitler speeches on TikTok, leadership changes at OpenAI, and AI's potential in drug repurposing for rare diseases. Finally, we'll look at Nebius's plans for significant AI infrastructure investment following its split from Yandex.
The Curse of ChatGPT. Missing the LLM forest for the chatbot trees. - Read more
The Intelligence Age - Read more
Alibaba, Nvidia collaborate on advanced autonomous-driving solution, computing services - Read more
An AI can beat CAPTCHA tests 100 per cent of the time - Read more
Introducing the OpenAI Academy. New initiative will fuel innovation by investing in developers and organizations leveraging AI, starting in low- and middle-income countries. - Read more
Andy Serkis Teases New Project Featuring “AI Characters” - Read more
LinkedIn Halts AI Data Processing in U.K. Amid Privacy Concerns Raised by ICO - Read more
Cloudflare Helps Content Creators Regain Control of their Content from AI Bots - Read more
AI doesn’t just require tons of electric power. It also guzzles enormous sums of water. - Read more
James Cameron Joins Board of Stability AI in Coup for Tech Firm - Read more
Intel Unveils Next-Generation AI Solutions with the Launch of Xeon 6 and Gaudi 3 - Read more
Siri May Not Get Its Apple Intelligence Update Until January 2025 - Read more
AI identifies hundreds of mysterious Nazca drawings in Peruvian desert - Read more
OpenAI Pitched White House on Unprecedented Data Center Buildout - Read more
Open AI CEO says AI 'superintelligence' is coming sooner than you think - Read more
Hitler’s AI translated speeches go viral on TikTok – with one video topping 1M views – in troubling trend: report - Read more
OpenAI’s chief technology officer Mira Murati to leave - Read more
AI model identifies existing drugs that can be repurposed for treatment of rare diseases - Read more
Split from Russia's Yandex, Nebius plans $1 billion AI infrastructure investment - Read more
"There are no working hours for leaders."
Top Article Picks this week
Welcome to this week's eclectic roundup, where we explore a diverse array of topics that impact our daily lives and challenge our perspectives. We begin by embracing uncertainty and its potential for positive surprises, followed by insights into the Gen Z workforce through the lens of the Mr. Beast phenomenon. Personal finance takes center stage with money lessons learned in one's 40s, while health enthusiasts will appreciate the breakdown of effective cold and flu remedies.
We delve into history with the peculiar Mao Mango Cult of 1968 and its significance for China's working class. The modern workplace culture is examined as we question our devotion to overwork. Fitness buffs will find value in our exploration of impactful cardio exercises, while we also address the sobering effects of repeat COVID infections. The publishing world's fascination with 'brainy' books is dissected, and mathematics enthusiasts will be intrigued by a newly discovered multiplication method.
We debunk common misconceptions about World War II and take a nostalgic journey through one of America's last pencil factories. For the health-conscious, we calculate the calorie burn of 10,000 steps. In our tech-saturated world, we examine the appeal of analog escapes like flip phones and vinyl records. Education gets a boost with the 'protege effect', while we ponder AI's potential impact on the job market. Finally, we explore the benefits of the four-day workweek trend.
Embrace the Uncertainty: On the Benefits of Upside Surprises (Reading time: 5 min) - Read here
The Mr. Beast Memo is a Guide to the Gen Z Workforce (Reading time: 12 min) - Read here
10 Money Revelations in my 40s (Reading time: 4 min) - Read here
Here Are the Cold and Flu Remedies That Actually Work (Reading time: 6 min) - Read here
The Mao Mango Cult of 1968 and the Rise of China’s Working Class (Reading time: 8 min) - Read here
Why Do We Buy Into the ‘Cult’ of Overwork? (Reading time: 10 min) - Read here
20 Cardio Exercises That Deliver Huge Results (Reading time: 10 min) - Read here
What Repeat COVID Infections Do to Your Body, According to Science (Reading time: 10 min) - Read here
How the ‘Brainy’ Book Became a Publishing Phenomenon (Reading time: 8 min) - Read here
Mathematicians Discover the Perfect Way to Multiply (Reading time: 6 min) - Read here
6 Misconceptions About World War II (Reading time: 10 min) - Read here
Inside One of America’s Last Pencil Factories (Reading time: 4 min) - Read here
How Many Calories Do You Burn Walking 10,000 Steps? (Reading time: 2 min) - Read here
The perfect escape from our online world. Why the new luxury is flip phones and vinyl LPs (Reading time: 14 min) - Read here
The big idea: how the ‘protege effect’ can help you learn almost anything (Reading time: 5 min) - Read here
Silicon Valley billionaire Vinod Khosla says AI will handle 80% of work in 80% of jobs (Reading time: 4 min) - Read here
The benefits of a four-day workweek according to a champion of the trend (Reading time: 4 min) - Read here
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Book of the week
"The Psychology of Investing" by John R. Nofsinger offers a compelling exploration of how human psychology influences investment decisions. Now in its sixth edition, this book stands out for its accessible approach to complex behavioral finance concepts. Nofsinger effectively bridges the gap between traditional financial theory and real-world investor behavior, providing valuable insights for both novice and experienced investors.
The author's structure is particularly effective, using everyday examples to illustrate psychological biases before analyzing their impact on investment choices. By concluding each section with academic studies, Nofsinger grounds his assertions in empirical evidence, adding credibility to his arguments. The addition of a new chapter on the biology of investment, exploring genetics, neuroscience, and hormonal influences, brings a fresh perspective to the latest edition.
Nofsinger's inclusion of practical strategies for controlling biases is a standout feature, offering readers actionable advice to improve their financial decision-making. The book's experiential examples, chapter summaries, and discussion questions enhance its educational value, making it an excellent resource for students and practitioners alike. While the 4.5-star rating on Amazon and 4.0 on Goodreads indicate general reader satisfaction, the book's academic tone may not appeal to all casual investors.
"Take the opportunity to learn from your mistakes: find the cause of your problem and eliminate it. Don't try to be perfect; just be an excellent example of being human."
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