🍋 Best Picture Goes to Goldman Sachs 13

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Good Morning! Jack Dorsey is already finding ways to "innovate" in his newly found free time away from Twitter and is renaming Square: Block (which also happens to be the most common name for a crypto company, see meme below). Which Big Tech company will be next? Coronavirus concerns tanked the market for the billionth time this year, as the first case of the new omicron variant was detected in US (California).

We are 3 days away from our Holiday Party at the McKittrick Hotel this Saturday. Register to get the last few tickets here. See y'all soon!

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1. Story of the Day: Best Picture Goes to Goldman Sachs 13

Pictured above: Bloomberg 50

Yesterday was a day for lists. Spotify Wrapped flooded Instagram. Bloomberg released its Bloomberg 50 list. Forbes released its 30 under 30 list, and those making the list flooded Twitter/LinkedIn with (at times highly cringe) flexes.

Bloomberg 50: While for the most part this was a list of people, there were a couple of non-people well worth the inclusion too:

1) Goldman's 13 Anonymous Junior Investment Bankers: These 13 disciples were the brave souls that outed the reality of working at an Investment Bank in their 11 page presentation: 100+ hour weeks, deteriorating mental & physical health and workplace abuse.

The presentation went viral and resulted in pretty much every Investment Bank giving their junior staff something to make up for their miserable lives. Most got base salary increases of 20-30%, some got Zoom-free Fridays, some got Pelotons and some really lucky ones got fruit baskets.

THANK YOU 13 ANONYMOUS HEROES!

2) The Meme Stock: This one seems like eternity ago but believe it or not this happened this year. Retail traders (Reddit) ganged up on hedge funds (Melvin) and pumped up the price of stocks (GameStop, AMC) for absolutely no reason other than "liking the stock."

The irony of it all is that the company that enabled stocks to become meme stocks has become a meme stock itself lmao. RIP Robinhood (down 40% from its IPO price).

Forbes 30 under 30: If you made this list, a heartfelt congratulations to you. If you didn't, you can still go through list and feel like an abject failure.

P.S. @Forbes if you are reading this, pls reach out, I am still under 30.

Spotify Wrapped: 

2. Markets Rundown

• Stocks erased early gains and ended sharply lower yesterday after the first confirmed case of omicron variant was found in California. 

Movers & Shakers

• (+) Build-A-Bear Workshop ($BBW) 27% after reporting record revenue for the third quarter and raising full year guidance.

• (+) Box ($BOX) 10% after reporting strong quarterly financial results.

• (–) Allbirds ($BIRD) -17% after losses grew in the third quarter.

3. Top Reads

• The long game always wins (FinancePanther)

• Cryptocurrency executives to be questioned in Congress (BBC)

• 3 lessons I learned from ARK Innovation ETF (MorningStar)

• More than 1 in 3 US adults carry medical debt (CNBC)

• One thing to remember about improving your financial habits (IMS)

• Why rich people avoid consumerism (DF)

• Etsy in sweet spot despite supply chain chaos (Fox)

• Nobody likes free riders (TonyIsola)

• Rumble going public in challenge to 'Big Tech' (Rumble)

A Message From Polymarket: Bitcoin Bounceback?

Crypto prices have been hitting all time highs this year, with Bitcoin climbing as much as $69k in early November. There’s been a widespread drop in prices recently, and while there are many reasons for it, some analysts believe the main factors are increased selling pressure, end of year profit-taking, as well as speculation.

Polymarket traders are currently forecasting a 29% probability that Bitcoin will be above 60,000 at noon on December 7, 2021. Will we see Bitcoin regain some of its momentum, or will the drop continue?

Trade now or follow the odds on Polymarket. Use code “OWS” to get reimbursed up to $100 on your first day of trading!

4. Book of the Day: The Intelligent Investor

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.

Here's your copy!

“The intelligent investor is a realist who sells to optimists and buys from pessimists."

5. Short Squeez Picks

• ESG and Socially Responsible Investing have grown 10x in 2 years. Don’t miss out — learn about this growing market in just 5 min a week with the free weekly newsletter, For What It’s Worth

• Christine Benz / Jeff Ptak talk with Ramit Sethi about how early money experiences shape people's lives and relationships Podcast

• Patrick O'Shaughnessy talks with Francis Davidson, founder and CEO of the hospitality brand Sonder Podcast

• How to get rich from the metaverse

6. Daily Visual: Biggest 1-Day S&P 500 Declines

Source: Axios

7. Daily Acumen: Minority rules

Scientists from Rensselaer Polytechnic Institute discovered the tipping point for the spread of ideas. 

Using computational and analytical methods to discover when a minority belief becomes the majority opinion, their research suggests that when just 10 percent of the population holds an unshakable belief, their belief will always be adopted by the majority of the society. 

The finding has implications for the study and influence of societal interactions ranging from the spread of innovations to the movement of political ideals. 

"When the number of committed opinion holders is below 10 percent, there is no visible progress in the spread of ideas. It would literally take the amount of time comparable to the age of the universe for this size group to reach the majority," said SCNARC Director Boleslaw Szymanski, the Claire and Roland Schmitt Distinguished Professor at Rensselaer. "Once that number grows above 10 percent, the idea spreads like flame."

Source: Science Daily

8. Career Portal

If you are looking for a new job, check out our Career Portal, where we curate the the best jobs in finance and crypto for you.

Featured Job: We are looking to hire a content creator / social media intern for our growing team. If you think you've got what it takes, apply here.  

Employers: If you are looking to hire a candidate and want to post a job, just click on "Start hiring" on the top right corner of the Career Portal.

9. Memes of the Day

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