Penn National Upgrades From Barstool to ESPN Bets

Listen in podcast app and follow below for the podcast topic arc.

1. Market update

2. What does PENN 0.00%↑ look like without Barstool

3. Berkshire earnings

4. Steve Jobs transition to Tim Cook

5. Future of sports gambling and content production

6. Sports franchise valuations

7. Recommendations and Predictions

Listen on Apple, Spotify, or Google Podcasts.

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📈📊Market Update💵📉

Quick read on US CPI from Bloomberg!

We’re keeping the commentary short and sweet this week… but have some great podcasts and links to check out below!

US equities fell on Wednesday ahead of today’s July consumer price index report.

Technology (-1.51%) and communication services (-1.24%) lagged the broader market indices, while energy (+1.22%) and real estate (+0.20%) outperformed.

The Nasdaq lost 1.17%, while the "FAAMG" stocks dropped:

The 30-year and 10-year Treasury yields finished at 4.176% and 4.009% respectively, while the 2-year yield ended at 4.810%.

• If you read anything related to stocks this week, I highly recommend Chris Bloomstran’s tweet thread on Berkshires most recent report:

https://twitter.com/ChrisBloomstran/status/1687913318860619777?s=20

What is everyone thinking about?

1. US credit card debt just hit $1 trillion, a big flashy number, but entirely consistent with long term trends. This is not a sign that the US consumer is tapped out.

2. US retail money market fund balances hit their own record recently, at $1.5 billion. This is a significant change from prior 40-year trends and bodes poorly for smaller US banks.

3. US bank stocks have rallied by +1 standard deviation versus their long run track record. The easy money has been made.

Twitter links from the pod:

• Bob Elliott on short term rates

• Bob Elliott on what people are missing about inflation

🎙Podcast & YouTube Recommendations🎙

• Nick Kolas talks about how to value Tesla:

• Steven Pinker talks with World of DAAS about humans vs. AI:

• A great listen from the Founders Pod. Paul Graham is one of the most interesting people in venture capital

• Bryson vs. Phil money game was a fun watch:

🔮Best Links of The Week🔮

• Josh Brown Explains His Thesis On UBER 0.00%↑ - Reformed Broker

• "Twenty-five years after the Cadillac Escalade launched General Motors into large, highly profitable luxury SUVs, the Detroit automaker is hoping a new all-electric version of the vehicle will ignite the same success for a new generation of luxury buyers. - CNBC

• Where the market is for luxury watches - The luxury watch dealer

• "European natural gas prices surged almost 40 per cent on Wednesday as the potential for disrupted global liquefied natural gas supply from Australia spooked traders betting on further price declines." - FT

• AI: Video hits Home …as Meta shows, with Advertisers & Users

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