Samsung's Latest Unveiling
In this issue of the Peel:
Big Announcement ??
The Daily Peel is moving newsletter platforms to help us reach your inbox easier starting on Thursday, July 18th...? this means you will no longer be getting our emails from [email protected] but from either [email protected] OR [email protected].
This also means the newsletter will have its own domain at thepeel.co where you can read past issues and subscribe. One way you can help? Reply or click anything in the email starting next Thursday (July 18th)
Market Snapshot ??
Banana Bits ??
3 Reasons Why You Are Striking Out At Your High Finance Job Search
The recruiting game is changing. Computers are taking over most aspects of application screening. You are filtered out before you get a chance to talk to the recruiter.
Gone are the days when you could afford to have a shit resume but still walk out with a job. Or get a job because you attended a certain school. The competition is much higher, and your odds are much lower.
The old-school mentality of let’s apply and hope we get an interview does not work. Below are three things you could be doing that will get you insane results.
Here is a computer-scored report card of a resume before and after the mentor review and finally after the AI review.
As part of WSO Academy, we help you address these problems and much more and get you a job in high finance. Can’t wait to start hearing from recruiters?
Macro Monkey Says ??
Up And To The Right
The housing market has become the Millennial and Gen Z equivalent of the war in Vietnam.
Decades from now, we’ll tantalize our AI-rendered grandkids with stories of getting shot down over enemy territory. Only instead of in planes on a battlefield, we’re talking about offers for houses in the seller’s hometown.
I'm not sure which is more exciting, but at least we have iPhones for our war. However, it appears that troops may be called back home as soon as housing inventory starts moving in the right direction.
Let’s get into it.
The Numbers
The seeds have been planted for a more buyer-friendly housing market. Conditions are still far from desirable, but at least more agreeable for wannabe homebuyers.?
We can see this first and foremost in active home listings, hitting its highest level since June 2020.
Construction levels remain suppressed compared to demand. However, homeowners fortunate enough to move in before JPow’s full frontal attack on housing affordability are starting to accept the new reality of higher rates.?
The month’s supply of existing homes hit a fresh high since October 2023 in May, reaching 3.7 months' worth of inventory at current sales levels.
Meanwhile, months’ supply of new homes hit a fresh high since October 2022 at 9.3 months. Taken together, that means there currently exists a 4.4-month supply of homes for sale in the U.S.
The housing market-induced financial crisis scarred homebuilders, causing them to dramatically de-risk and build far fewer homes. But, the boom in housing demand following the pandemic has brought builders back to life.?
Meanwhile, home sellers have taken longer to cash in on this wave of demand. As home prices have spiked along with demand, growth in home values seems to have run up so high that buyers are willing to forgo their sub-4% mortgage rates in order to move.
It’s been a long process, but homebuyers are finally getting some wind in their sales. Even in regions with the tightest housing market, like the North East, states are seeing huge upticks in home listings, with Massachusetts leading the way up 35% annually.
Supply is up, and price growth is decelerating, but one important factor remains a thorn in the buyer’s side—mortgage rates.
More than 2/3 of outstanding mortgages carry an interest rate below 4%. In the U.S., 90% of home sales are done with a 30-year fixed mortgage rate.
That standardization of mortgages is one reason why the U.S. housing market has held up better than other countries. But it doesn't have drawbacks, like the lock-in effect and downstream implications.
The lock-in effect is simply the idea that carrying a low mortgage rate keeps homeowners from moving, as they’ll need a new mortgage at a new, much higher rate.?
Not only does this slow household formation, leading consumer spending in the form of renovations, supply for homes, insurance, and more to slow, but it also lowers population growth and handicaps, compounding time for soon-to-be buyers.
The Takeaway?
However, there are some positive effects on consumer spending. According to the WSJ, homeowners in the U.S. have received an average increase of $119k in home equity since the pandemic.
The wealth effect therein allows homeowners to feel more confident spending lavishly on things like travel, with TSA passenger checks hitting an all-time high on Sunday.
The housing market is starting to become more friendly for American buyers.
领英推荐
Obviously, this trend had to wait for me to finally have bought a home before the market started improving. Feel free to thank me later.
What's Ripe ??
SoundHound AI (SOUN) ??22.5%
Advanced Micro Devices (AMD) ??3.9%
What's Rotten ??
LegalZoom (LZ) ??25.4%
Intuit (INTU) ??2.6%
Thought Banana ??
Health Tech Check-Up
Get ready for a bull market in hypochondria. Health tech is taking 24/7 monitoring of your vitals right to your fingertips… literally.
South Korean tech giant Samsung just released its first “Galaxy Ring,” a device that wraps around your finger and tracks allegedly important health information.
Let’s check it out.?
What Happened?
The Galaxy Ring, launched yesterday, looks a little something like this:
I’m not getting down on one knee for you apes (yet), but if any of you hypochondriacs want to track your health 24/7, it’s your time to shine.
The Galaxy ring is equipped with micro monitors in order to track your:
Altogether, the ring uses these to give you an Energy and Vitality score to let you know how energized or how much of a lazy POS you are.?
Who Cares?
While the features are cool, the important thing here is that Samsung is relying on health tech to become less reliant on new smartphone sales to grow revenue.
Financial media talks about “peak Apple” a lot, but far less attention is paid to Apple’s only real global competitor, Samsung.
The peak smartphone for Samsung hit more than a decade ago. But, with a broader lineup of devices, the threat presented by lower phone turnover presents a smaller impact on Samsung than it does on Apple.
Even still, Samsung used this week’s Unpacked 2024 event to reveal the ring alongside the Galaxy S24 and S24 Ultra, suggesting that Samsung anticipates the Galaxy Ring will be the firm's next big, killer product.
Smartphone companies are realizing that their products are simply too good. Phones last too long, so Samsung and Apple are leaning into health tech and phone-based services to make up for it and keep growth alive.?
The Big Question: Will Apple make any other forays into health tech in addition to the Apple Watch? What’s next for health tech products?
Banana Brain Teaser ??
Previous ??
If y is the smallest positive integer such that 3,150 multiplied by y is the square of an integer, then what must y be?
Answer: 14
Today ??
In the first week of the year, Nancy saved $1. In each of the next 51 weeks, she saved $1 more than she had saved in the previous week. What was the total amount that Nancy saved during the 52 weeks?
Send your guesses to [email protected]
Wise Investor Says ??
“Companies don't exist for 150 years without reinventing themselves.” — Charles Lowry
How Would You Rate Today's Peel??
??All the bananas? ? ? ? ? ? ? ? ? ? ? ? ???Meh? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ??Rotten AF
Happy Investing,
David, Vyom, Jasper & Patrick
Experienced Representative @ Affordable Finds From Japan LLC | ISO Auditor
4 个月Interesting!