DHUnplugged #674: Concentrated Returns

Tech earnings are in the spotlight. Fed blackout period on until the next rate decision- coming up. Shutdown - STILL LOOMING! The fishing trip of a lifetime ! PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Change of tune   .. inflation is old news - Big tech moving markets - earnings out - AI now to blame for higher costs (lower earnings) - In the heart of earnings season Market Update - Fed holding on to outlook - Worries bout default and no speaker of the house - Earnings continue to confuse as no absolute trend Guatemala - wow epic fishing adventure (just got in 2 hours ago) - 3 days of once in a lifetime fishing - Sailfish, Dorado, YellowFin Tuna (1000's of lbs caught over 3 days) - Spinner Dolphin (porpoise) everywhere November 15th Webinar  "2024 - What's in Store?  Register for the November 15th, 2024 Webinar Back on the attack - A bipartisan group of 33 attorneys general is suing Meta over addictive features aimed at kids and teens, according to a complaint filed Tuesday in a federal court in California. The support from so many state AGs of different political backgrounds indicates a significant legal challenge to Meta's business. - The federal suit also accuses Meta of violating the Children's Online Privacy Protection Act (COPPA) by collecting personal data on users under 13 without parental consent. - The states are seeking an end to what they see as Meta's harmful practices, as well as penalties and restitution. JP Morgan's Dimon -JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the fact that central banks got financial forecasting “100% dead wrong” about 18 months ago should prompt some humility about the outlook for next year. -Speaking on a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia, Dimon voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth. M&A -Chevron (CVX.N) agreed to buy U.S. rival Hess (HES.N) for $53 billion in stock in a deal that reflects top U.S. energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. - We've got too many CEOs per BOE (barrels of oil equivalent), so consolidation is natural," said Chevron Chief Executive Michael Wirth, adding the world could expect to see other deals. Ackman's Change  of Tune - Ackman’s move to exit his short against the 30-year Treasury could be a sign that his main fear is shifting from an overheated economy featuring higher interest rates and inflation to a slowing economy that could fall into recession amid geopolitical risks -   The economy is slowing faster than recent data suggests,” Ackman wrote in a Monday post on X, formerly Twitter, adding that “there is too much risk in the world to remain short bonds at current long-term rates.” - Remember when he gave the dire warning during COVID   "HELL IS COMING" Stepping it up -The White House on Monday said Iran was in some cases "actively facilitating" rocket and drone attacks by Iranian-backed proxy groups on U.S. military bases in Iraq and Syria, and President Biden has directed the Department of Defense to brace for more and respond appropriately. - No end in sight - Lot's of discussion how that could actually help to tamp down inflation Davos of the Desert - The annual event is typically used by attendees as an opportunity to build relationships with some of Saudi Arabia's biggest companies and its $778-billion sovereign wealth fund, drawn by the promise of deals as the kingdom embarks on an ambitious reform plan to wean its economy off oil.