The Future of TV, Gold vs. Oil vs. S&P500 and the Future of Interest Rates

Listen in podcast app and follow below for the podcast topic arc.* Market update* Interest rates, Gold, and Stocks ++* Canadian Market* Sports, ESPN and the rebuilding of the entertainment bundle* RecommendationsListen on Apple, Spotify, or Google Podcasts.What’s Going on in the Market📉📈Q3 ‘23 was the first quarter in a year where S&P earnings finally grew (albeit only 1%)Underneath the surface there is a lot of churn taking placeTech firms are growing earnings across sectors, and taking share from legacy techE-commerce is extending beyond retail to drug delivery, food delivery, telemedicine, etcWhat i’m seeing:* CVS > NowRx* Emergency Rooms > TeleMedicine* Grocery > InstacartLegacy advertising continues to lose ground to digital ads* OutFront Media (billboards) > Google* CableTV > YouTube / TikTok* Newspapers > Substack/BeehiveEven industries like Basic Materials are changing.* Paper manufacturing down* Steel > Carbon Fiber* Concrete > cost efficient ConcreteAnd so on…Aggregate earnings growth of 1% masks the true underlying changeNew players are growing earnings 10 to 20%, while legacy players are seeing earnings decline of 5% to 40%On the surface, it looks placid.Underneath the surface industries are transforming…links mentioned in the podcast:* Mexico is the new China* Pandemic Boom and Bust* No Landing Sentiment - Bob ElliottPodcast & YouTube Recommendations🎙* Why Shopify did a deal with big bad Amazon:* The Rise and fall of ESPN, the future of Cable TV and bundling:* An update on the business of Rolex:Best Links of The Week🔮What Happened in Vegas by David HillHow Jimmy Hoffa built the Teamster’s modest pension fund into something that “operated as one of America’s largest banks,” and what happened when he turned it away from conservative public market investments toward bets like financing casinos with the mafia.SVB's Demise: The Hidden Cost of Overcharging in the Competitive Banking LandscapeContrary to popular belief, the collapse of SVB was not due to a sudden frenzy of withdrawals. Their practice of overcharging customers would have driven them out of business if the March 2023 collapse hadn’t gotten there first.Bonus (Listen): Bryan Johnson: How to Age in Reverse on World of DaaSBryan Johnson is spending millions of dollars a year to reverse his biological age, and it’s working. His program is intense, but he shares the most easily replicable pieces of it (which are more approachable than you might think).How Larry Gagosian Reshaped the Art World by Patrick Radden KeefeA look into the secretive empire of art dealer Larry Gagosian, a unique global force who helped make the art world the $65 billion industry it is today.