🫨 Costco hiked membership fees

🚨 And the SEC is going after Moody's, S&P, and Fitch

I’ve had Britney Spears in my head for four days, and I’d just like to apologize to whichever deity I’ve offended.

Build value from the ground up ⛏️ 

​​Phoenix Capital Group specializes in oil, gas & mineral rights acquisition, and investment.

Investors can purchase 9-13% annual interest bonds from Phoenix Capital Group. Interest is paid monthly, and compounding is available to maximize potential returns.

While Phoenix is a relatively young company compared to say, Chevron or BP, they are one of the fastest-growing privately held companies in oil and gas. 4,500+ investors have received $50 million+ in interest payments.

How it works:

  • Phoenix sells ​fixed-rate investment bonds​ for those who want to get into the space or are looking for passive income.

  • These bonds offer monthly payments with a fixed rate of return. You can opt for compounding interest, and invest using your IRA.

  • They use capital from the bonds to pursue accretive assets (i.e., mineral rights)

  • These assets fall into 3 categories: Royalty assets, Non-operated working interest assets, and Phoenix Operating Company (where Phoenix performs oil and gas development)

Anyone in the US can invest. There are options for both accredited and non-accredited investors.

(There's currently a waitlist for non-accredited investors, but accredited folks can start with $25,000 minimum investments)​

📰 Market Headlines

  • The stock market plummeted, with the S&P 500 and Nasdaq suffering their worst day since early August.

    • The S&P 500 dropped 2.1%, led by a 9% plunge in Nvidia, while the Nasdaq fell 3.3%.

  • Oil prices fell over 4% to their lowest level this year due to concerns about tepid global demand.

  • Nvidia received a subpoena from the US Justice Department as regulators seek evidence of potential antitrust violations.

  • Chase Bank warned customers against a viral "glitch" trend encouraging check fraud on social media platforms.

  • Former President Donald Trump said he will plead not guilty to the charges in a revised indictment.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎤 What you said last time

What you had to say:

“Halloween candy has been on shelves for over a month, though”

📈 Trends you need to know

Crowdstrike is, unbelievably, up 88% YoY.

🧠 What do you think?

Which are you into more?

Login or Subscribe to participate in polls.

📊 Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • GitLab beat Q2 estimates with revenue up 31% as shares surged 11.5%.

  • Zscaler reported Q4 earnings that topped estimates, however, shares tumbled 8%.

Market movers

  • Costco hiked membership fees for the first time in seven years.

  • Eli Lilly partner BioAge Labs filed for a US IPO, planning to list on Nasdaq under the ticker "BIOA".

  • The SEC charged six credit rating agencies, including Moody's, S&P, and Fitch, with recordkeeping failures; the agencies agreed to pay over $49 million in penalties.

  • Cathay Pacific canceled dozens of flights to inspect its entire Airbus A350 fleet after discovering engine component failures.

  • Job cuts:

Ideas, trends, and analysis

  • Hispanic voters viewed Vice President Harris and Former President Trump equally on the economy, with each drawing 39% support.

  • Bitcoin ATM scams skyrocketed to $114 million in losses in 2023, up tenfold from three years ago.

Recommended Newsletter

🌍 Global Perspectives

  • 🇺🇦 🇷🇺 Russian missiles struck a military institute in Ukraine's Poltava, killing at least 50 people and wounding 271.

  • 🇫🇷 🇬🇧 At least 12 migrants died after their boat capsized in the English Channel.

  • 🇱🇧 Lebanon's former central bank chief Riad Salameh was arrested over alleged financial crimes involving more than $110 million in commissions.

  •  🇨🇳 🇺🇸 Researchers have uncovered Chinese operatives posed as US voters on social media, spreading divisive content before the 2024 election.

📊 Crypto

  • The CFTC recovered $18 million in crypto assets from an alleged commodity pool Ponzi scheme.

  • The FBI warned that North Korean hackers are "aggressively targeting" web3 employees.

  • The SEC has charged and settled with crypto-focused Galois Capital over custody issues.

🧠 Errata

  • The largest dam removal in US history freed 400 miles of the Klamath River. Beavers are ticked.

  • SpaceX's Polaris Dawn mission, featuring the first commercial spacewalk, is set to launch Friday after multiple delays.

  • A 5-year-old boy survived a mountain lion attack during a Labor Day picnic in Malibu Creek State Park.

📺 What to Watch Today

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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