Grow Smart Income - week 46, 2024

What happened this week?

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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

In this week’s roundup, the financial and economic landscape continues to evolve with dynamic shifts and surprising turns. Moderna's unexpected Q3 profit uplifted investor sentiment, showcasing resilience in the biotech sector. Meanwhile, China made waves with its substantial $1.4 trillion package aimed at fortifying its economic framework. Tech giant Sony also delivered promising news by surpassing profit estimates, boosted by its robust gaming division.

On the employment front, tough news emerged as Nissan announced significant job cuts of 9,000 positions while slashing CEO compensation in half, reflecting industry challenges. In contrast, Warren Buffett and Nvidia’s Jensen Huang remained silent on the political scene but still saw their fortunes swell by over $12 billion collectively. Notably, Nvidia gained an elite status as a new member of the Dow, joined by the paint manufacturer Sherwin-Williams, signaling broader recognition of their market influence.

Central banks are also making moves—the Federal Reserve opted to reduce interest rates once more, a decision closely watched by global markets. The U.S. manufacturing sector is under the spotlight with questions raised about whether Trump’s tariff proposals can alleviate its struggles. Financial innovations are reshaping investment flows too, as BlackRock’s Bitcoin ETF surpassed its nearly 20-year-old Gold ETF in assets, underscoring the shift in investor preferences.

Adding to the complexity, the largest weekly outflow from a top gold ETF since 2022 was observed following Trump’s recent election win, suggesting a reevaluation of safe-haven strategies. Amid these shifts, young people are redefining financial norms by embracing ‘soft saving’ over traditional retirement plans. These developments set the stage for intriguing debates and potential strategic pivots as businesses and investors adapt to the changing tides.

  1. Moderna Stock Rises on Surprise Q3 Profit - Read more

  2. China unveils $1.4tn package to shore up economy - Read more

  3. Sony raises guidance on gaming strength, quarterly operating profit beats estimates - Read more

  4. Say goodbye to retirement? A ‘soft saving’ trend is emerging among young people - Read more

  5. Nissan Shares Tumble After Cutting 9,000 Jobs and Halving CEO Pay - Read more

  6. Warren Buffett and Jensen Huang stayed quiet on the election—and their fortunes have rallied more than $12 billion - Read more

  7. Nvidia is Now a Dow Member, as is Paint-Maker Sherwin-Williams - Read more

  8. Federal Reserve Cuts Its Interest Rate Again - Read more

  9. Are Trump Tariff Proposals the Answer for Struggling Manufacturing Sector? - Read more

  10. BlackRock's Bitcoin ETF Has More Assets Than Its Gold ETF—Which Is Almost 20 Years Old - Read more

  11. Top Gold ETF Sees Largest Weekly Outflow Since 2022 on Trump Win - Read more

“Stay away from those people who try to disparage your ambitions. Small minds will always do that, but great minds will give you a feeling that you can become great too.”

Mark Twain

Crypto News

This week’s crypto landscape has been marked by major breakthroughs, legal battles, and notable market movements. Bitcoin ETFs attracted a record $1.3 billion in inflows, driven by Trump’s recent election win and the Federal Reserve’s decision to cut interest rates. In the decentralized finance arena, Coinbase made headlines by deploying wrapped Bitcoin on Solana, aiming to enhance DeFi opportunities.

Jack Dorsey’s Block announced a strategic pivot to focus on bitcoin mining while scaling back its decentralized tech initiatives under TBD. Meanwhile, the CEO of a Canadian crypto holding company returned home safely after paying a hefty $720,000 ransom, underscoring ongoing security challenges in the crypto world.

Solana saw significant strides, highlighted by the mainnet launch of Eclipse, the first Ethereum Layer 2 built on its infrastructure. Ethereum itself surged past the $3,000 mark, bolstered by three key drivers fueling its recovery. Bitcoin reached a record-breaking $80,000, buoyed by market optimism following Trump’s victory.

On the legal front, FTX initiated a high-profile lawsuit against Binance, with its former CEO Zhao facing a $1.8 billion clawback case. MicroStrategy’s bold investment in Bitcoin paid off, as its shares climbed 10% following a $2 billion acquisition at an average price of $74.4k.

Adding to the week’s highlights, Solana joined the prestigious $100 billion market cap club, reaching a near three-year high of over $210. However, the crypto world wasn’t without its darker moments—a Ukrainian man became the latest victim of crypto crime, losing $250,000 in a robbery in Thailand. This mix of triumphs, challenges, and resilience continues to define the ever-evolving crypto space.

  1. Bitcoin ETFs See Record $1.3B Inflows on Trump Win, Fed Rate Cuts - Read more

  2. Coinbase wrapped Bitcoin deploys on Solana, aimed at growing DeFi market - Read more

  3. Jack Dorsey's Block to prioritize bitcoin mining and wind down decentralized tech arm TBD - Read more

  4. CEO of Canadian Crypto Holding Returns Safely After Paying $720K Ransom: Report - Read more

  5. Eclipse, the first Ethereum L2 based on Solana launches mainnet - Read more

  6. Ethereum Surpasses $3,000, Three Reasons Behind Comeback - Read more

  7. Bitcoin hits $80,000 for the first time as crypto traders bask in Trump election victory - Read more

  8. FTX Sues Binance, Ex-CEO Zhao Seeking $1.8 Billion Clawback - Read more

  9. MicroStrategy shares rise 10% after $2 billion Bitcoin acquisition at $74.4k - Read more

  10. Solana Joins $100B Club, Hitting Nearly a Three-Year High Above $210 - Read more

  11. Ukrainian Man Falls Victim to $250,000 Crypto Robbery in Thailand - Read more

“When you give joy to other people, you get more joy in return. You should give a good thought to the happiness that you can give out.”

Eleanor Roosevelt

Artificial Intelligence

This week in the world of artificial intelligence and tech, significant developments and breakthroughs are making headlines. A report from Tony Blair’s thinktank forecasts that while AI may displace up to 3 million jobs, the long-term economic impact could be relatively modest. Ant International is harnessing AI to enhance cross-border payments, driving its global expansion strategy.

In your daily workflow, expect more AI integration as Microsoft announces that its Copilot AI is set to be embedded into Office apps, whether users are prepared for it or not. Fast food giant Wendy’s is turning to Palantir AI to keep pace with the $1 Frosty demand, showing how AI is reshaping operations in unexpected industries. Meanwhile, a bold question is being posed: could AI eventually outshine quantum computing in some arenas?

On the innovation front, Magentic-One's generalist multi-agent system aims to tackle complex tasks, and AI's prowess was on display during the Japanese National Dental Examination. In creative tech, a new AI project allows learning visual parkour from generated images. However, geopolitical strains are evident as the U.S. government reportedly instructed TSMC to stop shipping AI-related chips to China, highlighting the sensitive intersection of AI and international policy.

The Washington Post has introduced “Ask The Post AI,” enhancing the user search experience. Windows Insiders are seeing the rollout of new AI-powered features in Paint and Notepad, promising creative and practical upgrades. Mistral has launched a moderation API, emphasizing safety in AI use, and a Singapore-based startup is utilizing AI to assess the quality of ingredients, from coffee beans to milk.

This array of advancements and challenges underscores AI’s transformative power and the multifaceted ways it continues to shape our lives and industries.

  1. AI may displace 3m jobs but long-term losses ‘relatively modest’, says Tony Blair’s thinktank - Read more

  2. Ant International drives AI in cross-border payments to boost global expansion - Read more

  3. Microsoft's Copilot AI is coming to your Office apps - whether you like it or not - Read more

  4. Wendy’s Bets on Palantir AI to Keep Up With $1 Frosty Demand - Read more

  5. Why AI could eat quantum computing’s lunch - Read more

  6. Magentic-One: A Generalist Multi-Agent System for Solving Complex Tasks - Read more

  7. Artificial Intelligence’s Performance on the Japanese National Dental Examination - Read more

  8. Learning Visual Parkour from Generated Images - Read more

  9. Exclusive: US ordered TSMC to halt shipments to China of chips used in AI applications - Read more

  10. The Washington Post Launches “Ask The Post AI,” a New Search Experience - Read more

  11. New AI experiences for Paint and Notepad begin rolling out to Windows Insiders - Read more

  12. Mistral launches a moderation API - Read more

  13. From coffee beans to milk, this Singapore-based startup uses AI to determine ingredient quality - Read more

“Success is peace of mind, which is a direct result of self-satisfaction in knowing you made the effort to become the best of which you are capable.”

John Wooden

Top Article Picks this week

This week’s collection of insights spans from timeless advice on personal well-being to intriguing scientific mysteries. For those seeking rejuvenation, sleep experts weigh in with essential tips on how to rest better, emphasizing why quality sleep is key to living a longer life. In the realm of productivity, learn ten impactful ways to make your time count and discover a simple 20-minute habit to train your brain to retain any knowledge.

On the philosophical side, we delve into Schrödinger’s musings on quantum physics, Vedanta, and the enigma of existence, reminding us of the profound questions that linger at the edge of science and spirituality. Pet owners and animal lovers will be intrigued by a question close to home: Are cats actually good for our health? Meanwhile, an exploration of animal biology reveals species that challenge our understanding of aging and immortality.

A cautionary tale unfolds with the story of how just four Instagram posts unraveled one individual’s life, highlighting the deep impact of social media. For history enthusiasts, we clear up common misconceptions with eight things people often get wrong about ancient Rome. In a shift to environmental issues, we face a sobering truth: the weeds are winning, signaling challenges in modern agriculture.

China’s ambitious space plans also make headlines as the nation gears up to crash a spacecraft into a distant asteroid, showcasing the next steps in planetary defense. Amidst all this, philosophical questions abound—does modern convenience come at the cost of true ease? To round out this week, we offer five thoughtful ways to feel like you’re doing enough, helping you balance ambition with contentment.

  1. How to Sleep Better, According to Sleep Experts (Reading time: 4 min) - Read here

  2. Ten Ways to Make Your Time Matter (Reading time: 7 min) - Read here

  3. Train Your Brain to Remember Anything You Learn With This Simple, 20-Minute Habit (Reading time: 3 min) - Read here

  4. Schrödinger on Quantum Physics, Vedanta, and the Mystery of What We Are (Reading time: 6 min) - Read here

  5. Are Cats Good for Our Health? (Reading time: 4 min) - Read here

  6. How Four Posts on Instagram Destroyed Her Life (Reading time: 35 min) - Read here

  7. Opinion: The Nobel Prizes Tell a Story About Scientific Discovery (Reading time: 5 min) - Read here

  8. Are any animals truly ‘immortal’? These creatures defy biological time. (Reading time: 8 min) - Read here

  9. 8 things people get wrong about ancient Rome (Reading time: 5 min) - Read here

  10. Why Sleep Is the Key to Living Longer (Reading time: 7 min) - Read here

  11. China plans to crash a spacecraft into a distant asteroid (Reading time: 3 min) - Read here

  12. How to Be More Present (Reading time: 5 min) - Read here

  13. The weeds are winning (Reading time: 15 min) - Read here

  14. The big idea: is convenience making our lives more difficult? (Reading time: 5 min) - Read here

  15. Five Ways to Feel Like You’re Doing Enough (Reading time: 7 min) - Read here

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“Success is getting what you want; happiness is wanting what you get.”

W. P. Kinsella

Book of the week

Chip and Dan Heath’s “Switch: How to Change Things When Change Is Hard” is an enlightening guide that dissects the intricacies of achieving change in both personal and professional spheres. Drawing on extensive research in psychology and sociology, the authors vividly illustrate why change can be so daunting. They frame the problem as a conflict between the rational and emotional parts of our minds: the rational side seeks goals like fitness or productivity, while the emotional side craves comfort and indulgence.

What sets this book apart is its practical framework, which is encapsulated by three key elements: Direct the Rider (provide clear direction), Motivate the Elephant (engage the emotional side), and Shape the Path (simplify the journey). The Heath brothers bring these concepts to life with engaging real-world examples, such as medical interns improving patient safety by challenging outdated practices and managers revitalizing their teams with innovative approaches.

Each story underscores that effective change is possible when leaders balance rational appeals with emotional motivation and clear, achievable steps. The authors emphasize that even small tweaks in environment or approach can yield significant outcomes, transforming daunting challenges into manageable tasks. Their advice resonates across disciplines, making the book relevant for managers, educators, parents, and anyone striving for meaningful change.

The writing style is accessible, with an energizing mix of anecdotal storytelling and empirical insights. The Heaths’ use of metaphors—particularly the Rider and the Elephant—helps simplify complex ideas and makes the principles memorable. However, some readers might find that certain case studies skew heavily toward workplace examples, potentially limiting broader applicability. Still, “Switch” excels at turning theoretical concepts into actionable strategies.

Whether you're looking to improve your personal habits or drive change in a team setting, “Switch” provides a comprehensive, relatable roadmap. It serves as a powerful reminder that sustainable change isn't just about willpower; it’s about understanding human behavior and crafting a balanced, well-supported approach. This book is an invaluable read for anyone who faces challenges in implementing change, equipping them with the tools to guide both their rational and emotional selves to success.

“The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty.”

Winston Churchill

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