Worst pace since pandemic

Plus, Tesla sales slip

03 Oct

0*past 24-hour performance

  • Healthcare strike: More than 75,000 unionized healthcare workers at Kaiser Permanente facilities plan to strike from October 4–7 if a new labor contract is not agreed upon, potentially leading to the largest healthcare strike in U.S. history (CNN)

  • Worst pace since pandemic: Small-business bankruptcy filings are rising this year (at nearly 1,500 so far), a signal that increased interest rates, tighter lending standards and higher operating costs are straining entrepreneurs (WSJ)

  • Just what a stalling economy needs: Federal Reserve Governor Michelle Bowman again said that multiple interest-rate hikes may be required to get inflation down to the central bank’s goal even after data for August showed some of the slowest price increases since 2020 (Bloomberg)

  • OPEC's warning: The head of OPEC — a group of the world’s major oil producers — said Monday that a lack of investment in the oil industry poses a danger to global energy security and could send crude prices to $100 a barrel (CNN)

  • Manufacturing resilience: U.S. manufacturing took a step further towards recovery in September as production picked up and employment rebounded, according to a survey that also showed prices paid for inputs by factories falling considerably (Reuters)

  • Tesla sales slip: Tesla (TSLA) missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories to roll out a newer version of the Model 3 mass-market sedan forced production halts (NYT)

  • Oddity feeling confident: Oddity (ODD), newly public on the Nasdaq, reported expected Q3 revenue growth of 29%-31% from its Il Makiage and Spoiled Child brands, surpassing its initial 20.5% estimate (CNBC)

  • Ex-CEO buys bankrupt Lordstown: The soap opera that is Lordstown Motors is taking yet another unusual turn. The company founder and former CEO is paying $10 million to buy the electric pickup maker’s assets out of bankruptcy (Yahoo)

  • Kellogg spinoff stumbles: Shares of Kellanova (K) fell more than 7% on Monday after the packaged food giant, previously known as Kellogg Company, completed the spinoff of its North American cereal business into a new standalone entity called WK Kellogg Co (KLG) (CNBC)

  • WeWork's bold move: WeWork (WE) said on Monday that it would not make two sets of interest payments totaling about $95 million, a move meant to jump-start negotiations with its lenders at the same time it tries to cut costs with its landlords (NYT)

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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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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