BTC spikes on fake news

Plus, America’s interest bill is skyrocketing...

17 Oct

*past 24-hour performance

  • Snapchat rallies on rumor: Snap (SNAP) shares jumped 11% after a media report said the company is expected to have more than 475m daily active users (DAUs) in 2024, above Wall Street expectations (Reuters)

  • Miscalculated mess: Now that the federal student loan machinery has been set back into motion, hundreds of thousands of borrowers are discovering that their monthly payments had been miscalculated (NYT)

  • Fake bitcoin news: Bitcoin (BTC) surged from $27,900 to $30,000 after a false report of a spot ETF approval was posted on X, leading to nearly $100 million in liquidations (Coindesk)

  • Schwab has a mixed day: Despite reporting a 16% drop in revenue, shares of the U.S. brokerage firm surged 5.4%, their best day in nearly three months, after Schwab reported a 17% rise in fees due to robust inflows into its many funds (Reuters)

  • America’s interest bill is skyrocketing: An upward shift in long-term interest rates is putting the government on track to spend more on interest payments in the coming years than was anticipated just a few months ago (Axios)

  • "A burning platform": Rolls-Royce Holdings (RR) is set to axe about 2,500 staff as part of a cost-cutting drive by its new CEO (Sky News)

  • LinkedIn layoffs: LinkedIn plans to lay off more than 660 people across its engineering, product, talent and finance teams, it announced Monday, representing more than 3% of the company's global workforce (Axios)

  • Inclusion jump: Lululemon's (LULU) stock jumped by more than 10% to an almost two-year high on Monday buoyed by the addition of the Canadian sportswear maker into the Wall Street benchmark S&P 500 index (Reuters)

In partnership with Masterworks
A Banksy got everyday investors 32% returns?

Mm-hmm, sure. So, what’s the catch?

We know it may sound too good to be true. But thousands of investors are already smiling all the way to the bank, thanks to the fine-art investing platform Masterworks.

These results aren’t cherry-picking. This is the whole bushel. Masterworks has built a track record of 16 exits, including net returns of +10.4%, +27.3%, and +35.0%, even while financial markets plummeted.

But art? Really? Okay, skeptics, here are the numbers. Contemporary art prices:

  • Outpaced the S&P 500 by 131% over the last 26 years

  • Have the lowest correlation to equities of any asset class

  • Remained stable through the dot-com bubble and ’08 crisis

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  • Sports are a bright spot in a bad year for M&A (Wealth Management)

  • How the US is becoming increasingly involved in the Israel-Hamas war (Semafor)

  • We're not ready for the Big One (Noahpinion)

  • Sweetgreen is using "kale-shooting robots" to speed up service (WSJ)

  • Bank of America’s balance sheet will be all the talk after earnings come out (Barron’s)

Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies.

We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors.

We are a small, self-funded team of real humans going up against the hype-filled, sensational news outlets in the world. You can check out a selection of our other publications below.

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