Newsletter Nov 6, 2024
Welcome to your November 6 newsletter...

With Donald Trump’s victory over Kamala Harris in the 2024 election, markets are surging, and key sectors like banking, energy, and crypto are seeing big gains. Investors are already eyeing stocks such as JPMorgan Chase, Coinbase, and Kinder Morgan, set to benefit from Trump’s pro-business stance. We’ll dive into these market moves, Grant Cardone’s top wealth-building paths, and the surprising calm among TikTok employees facing a potential U.S. ban.

 

In the Fast Lane of Business...

> Following Donald Trump's victory over Democratic candidate Kamala Harris in the 2024 U.S. presidential election, a surge in U.S. stock markets has prompted investors to consider strategic stock picks. Analysts suggest that Trump's policies, generally supportive of banking, fossil fuel, and private equity sectors, may spur growth for companies like JPMorgan Chase and Kohlberg Kravis Roberts & Co., benefiting from anticipated lenient regulations and renewed M&A activity. Cryptocurrency investments could also thrive as Trump has expressed support for blockchain technology, with stocks like Coinbase and MicroStrategy already gaining traction. Additionally, energy companies aligned with traditional oil and gas interests, such as Valero Energy and Kinder Morgan, may see favourable shifts, as Trump is likely to reverse environmental restrictions imposed by the previous administration. Meanwhile, the election’s impact has even reached China, where stocks with names reminiscent of Trump saw gains, while those linked to "Harris" dropped, illustrating the global financial ripple effects of Trump’s re-election.

> In a Simply Digital podcast interview, Grant Cardone outlined five main paths to wealth: inheritance, marriage, entrepreneurship, investment, and luck. Known for his straightforward advice, he highlighted that while some methods like inheritance and marriage are less accessible, others—like starting a business or investing—can offer more control over financial success. Cardone emphasized that confidence and self-worth are essential in any wealth-building journey, helping people see value in their roles and decisions. He concluded that no matter the path, a strong mindset is foundational to sustaining wealth and capitalizing on opportunities.

> TikTok employees in the U.S. remain surprisingly unconcerned about the app’s potential ban, despite political debates around it as the 2024 election approaches. Employees say the topic rarely surfaces internally, and they continue to develop features as if the threat of a ban is not imminent. While the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) mandates that TikTok be sold to a U.S. buyer or face a ban, most employees expect that legal challenges could delay any impact until 2025. TikTok’s staff feel their job security is relatively stable and believe ByteDance would likely reassign employees if a U.S. ban occurs.

Unique Business Idea For You

Many people need accounting or tax services for business advice, tax preparation, or future planning. Certified Public Accountants (CPAs) can earn well by starting their own practice, while those without certification may need additional training. Tax preparation franchises often offer training programs to help new accountants get started. Accountants can specialize in services like bookkeeping, financial reporting, or tax accounting, which provides extensive opportunities for work.

Side Hustle You’d Be Crazy Not to Try

Create a unique delivery service to bring the convenience of 24/7 city offerings to your hometown. For example, start a cookie delivery side hustle where customers can enjoy fresh cookies anytime, even at midnight. Baking enthusiasts could cater to the universal love of cookies, delivering treats right to customers’ doors. This service could provide a late-night indulgence without any effort for the customer, making it a memorable local offering.

Personal Finance News

> Indiana farmer Don Wyss emphasizes the importance of investing soybean checkoff funds into production research to boost profitability. As an Executive Committee member for the United Soybean Board, he highlights research aimed at improving yields or maintaining them under challenging conditions, like droughts, to ensure farm sustainability. Recent research has focused on developing new soybean varieties, such as high oleic soybeans, which are now adaptable to a broader range of maturity groups across the country. Wyss believes this research is a valuable way for farmers to see a return on their checkoff contributions. For farm investing options, click here

> In a recent episode of The Dave Ramsey Show, Dave Ramsey and his daughter Rachel Cruze discussed parental expectations around financial support from adult children. They addressed Robert, a caller frustrated that his children wouldn’t help him financially, despite his past support. Ramsey emphasized that parenting doesn’t entitle one to repayment and argued that financial dependency often leads to blurred boundaries and resentment. While Ramsey advocates for strict financial independence, experts like Danielle Miura agree that middle-aged adults should prioritize their own financial stability, as balancing support for both children and aging parents can strain finances and future security.

> On TikTok, middle-class Americans are voicing frustration over financial struggles, highlighting a disconnect with wealthy public figures' political advice. A video by user Mama_P08, sharing her family's challenges with rising costs, struck a chord as she called out millionaire celebrities for being out of touch. Her story reflects the wider struggle of millions dealing with inflation, high living costs, and increasing debt. The response hiighlights a call for real economic solutions, as Americans feel that political rhetoric from affluent personalities fails to address their everyday financial hardships.

In partnership with Elevated Leads Ltd.

2024 U.S. Election: A High-Stakes Battle Between Trump And Harris

"The 2024 U.S. General Election has become a fierce contest following President Joe Biden's unexpected withdrawal, with Vice President Kamala Harris stepping in as the Democratic candidate against Donald Trump - with tight betting odds and key battleground states likely determining the outcome."

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