Good Morning! Wall Street firms are starting to get creative to meet regulators’ capital demands. Investors are feeling bullish on interest rate cuts coming soon. Chief AI Officer (CIA) is becoming one of the most in-demand job postings. And Americans spent a record $12 billion for Cyber Monday.

_{SQUEEZ OF THE DAY}

Blackstone’s Bullish on Europe

Blackstone’s CEO Stephen Schwarzman spoke in London yesterday. And he sounds pretty bullish on opportunities in Europe - especially in the real estate sector.

With central banks easing up on rate hikes, Blackstone is in a good position to snag real estate deals across Europe. They’ve already found success in deals for data centers, warehouses, and student housing.

Schwarzman says LPs are still concerned that they aren’t getting capital flows back as assets aren’t being sold. But he says cycles like these always end and things return to normal. And hopefully, 2024 can be a big year for private equity.

Takeaway: Schwarzman says he will only invest in places he’s willing to visit twice. So obviously he hasn’t been on diligence trips to visit industrial companies in Ohio recently. But in all seriousness, Blackstone is building a massive new European headquarters in London, and we could see the firm more active there going forward.

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_HEADLINES

Top Reads

• What’s in store for Wall Street in 2024 (Axios)

• Wall Street gets creative as regulators demand more capital (Reuters)

• Cyber Monday sales set to top record $12 billion (YF)

• Coinbase CEO says crypto industry can turn page after Binance settlement (CNBC)

• Investors see interest rate cuts coming soon (WSJ)

• Long-time Novo bull slashes stake, citing weight-loss drug hype (YF)

• Chief AI officers are in strong demand (Axios)

• There are 600k unfilled cybersecurity jobs in the U.S. (CNBC)

• The case seeking to shut down wealth taxes before they exist (Vox)

• TikTok owner ByteDance axes hundreds of jobs in gaming unit (CNBC)

_{CAPITAL PULSE}

Markets Rundown

Stocks took a breather, but are still on track for a record month.

Movers & Shakers

• (+) Xenon Pharmaceuticals ($XENE) +18% after posting positive results from its depression treatment.

• (+) Domino’s Pizza ($DPZ) +5% after TD Cowen raised its price target.

• (–) Okta ($OKTA) -4% after a downgrade after its security breach.

Private Dealmaking

• Boehringer Ingelheim acquired T3 Pharmaceuticals, a Swiss biotech, for $508 million

• OpenGate Capital bought Player One Amusement Group for $114 million

• RepeatMD, a revenue SaaS for wellness practices, raised $40 million

• PhysicsX, a simulation platform for engineers, raised $32 million

• Ritual, a decentralized AI platform, raised $25 million

• Betteromics, a life science data platform, raised $20 million

_{BOOK OF THE DAY}

Misfit

For years, Gary Gulman had been the comedian’s comedian, acclaimed for his delight in language and his bracing honesty. But after two stints in a psych ward, he found himself back in his mother’s house in Boston―living in his childhood bedroom at age forty-six, as he struggled to regain his mental health.

That’s where Misfit begins. Then it goes way back.

This is no ordinary book about growing older and growing up. Gulman has an astonishing memory and takes the reader through every year of his childhood education, with obsessively detailed stories that are in turn alarming and riotously funny. We meet Gulman’s family, neighbors, teachers, heroes, and antagonists, and get to know the young comedian-in-the-making who is his own worst―and most persistent―enemy. 

From failing to impress at grade school show-and-tell to literally fumbling at his first big football game―in settings that take us all the way from the local playground to the local mall, from Hebrew School to his best (and only) friend’s rec room, young Gary becomes a stand-in for everyone who grew up wondering if they would ever truly fit in. And that’s not all: the book is also chock-full of ‘80s nostalgia (Scented Markers, indifference to sunscreen, mall culture).

Misfit is a book that only Gary Gulman could have written: a brilliant, witty, poignant, laugh-until-your-face-hurts memoir that speaks directly to the awkward child in us all.

“A tour de force of comedy and reflection about the perilous journey from kindergarten to twelfth grade and beyond - from the beloved stand-up comic.”

_{ENLIGHTENMENT}

Short Squeez Picks

• 5 ways to confidently negotiate like a leader 

• How to spend less without depriving yourself

• He sold burritos out of his apartment window, now he's running a $7B startup

• Why Mark Cuban says being a lousy employee helped him

• 5 phrases leaders should always say

_{DAILY VISUAL}

Market Thinks Rate Cuts Are On The Way

Market based odds the Fed will lower its target rate by June 2024

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Memorization

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Even individuals with average memory capabilities can significantly enhance their memory performance through practice with this technique.

Originating from the ancient Greeks, specifically Simonides of Ceos, the method of loci utilizes the concept of a "memory palace" or mental map, linking information to specific locations.

This cognitive shortcut taps into the brain's natural strengths in visuospatial and visual memory, making it a surprisingly attainable skill for improving memory performance.

_{JOB BOARD}

Featured Jobs

• NHL - Finance Manager - New York, NY

• DoorDash - VP, Finance - New York, NY

• Blackstone - Associate, Asset Based Finance, New York, NY

_{MEME-A-PALOOZA}

Memes of the Day