🍋Where The Rich Live

Author

Short Squeez
March 07, 2022

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"I don’t deserve this award, but I have arthritis and I don’t deserve that either." â€” Jack Benny accepting an Emmy

Good Morning! Hope y'all had a great weekend. A number of companies suspended operations in Russia over the weekend. Some big names include Visa, Mastercard, American Express, Netflix and TikTok. Goldman Sachs is also pulling out of Russia and relocating staff to Dubai. Elon Musk called on Europe to restart nuclear power stations, saying it's "critical to international security." Oil is officially a meme stock after it crossed the $125/barrel mark. Maker of Ben & Jerry's, Unilever, has pledged to publish new nutrition benchmarks as it comes under fire from investors who want it to take more responsibility in improving the nation's health. (no more chocolate chip cookie dough for y'all)

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1. Story of the Day: Where the Richest Live

Despite the global pandemic, supply chain issues, and inflation, the wealthy are still doing very well. Two years after COVID hit and caused a flight from crowded commerce centers of the world, those cities have rebounded and are showing strength even in some of the most volatile times in decades, according to Knight Frank’s 2022 Wealth Report.

New York, Tokyo, and Paris claimed the gold, silver, and bronze for where the world's top 1% live. London and LA rounded out the top 5, with London claiming the coveted title of top place for lifestyle and investment.

Flora Harley, deputy editor of the report said, "the resilience of cities in the face of the Covid-19 pandemic has been stark. Talk of a mass exodus in 2020, which quickly led to a 'boomerang effect' as many self-exiles, found the grass not always greener away from the hustle and bustle of urban life."

The number of ultra-high net worth individuals climbed by 9.3% last year as Fed's easy money policies led to an increase in stock and property prices. The number of folks whose net worth is above $30 million is expected to double in the decade ending in 2026 to 783,671. Asia is set to pass Europe as the region with the second most ultra-rich individuals. (After the US, China has the most billionaires in the global top 500 wealthiest people)

Real estate prices for luxury residences have jumped the most on record last year. Dubai led the major lux locales with prices climbing 44%. Famous tax haven Monaco remains a mainstay for high end homes, but it's where a million bucks gets you the least amount of property.

Short Squeez Takeaway: The pandemic definitely spooked people into thinking that rich people paying huge tax bills would flee from these high cost cities. As it turns out, when you've got more money than God, you put a priority on the amenities your hometown has, and not on saving a few bucks here and there. On top of that, as we've seen before, volatility in the markets tends to make the rich richer over time, so all the realtors on those Netflix shows selling mansions need not worry about a lack of clientele.

Source: Bloomberg

2. Markets Rundown

Markets turned down sharply as the Russia-Ukraine situation continues to deteriorate. Reports of a fire at Europe's largest nuclear plant are weighing heavily on investor sentiment.

Movers & Shakers

  • (+) Indonesia Energy Corp ($INDO) +102% thanks to Russian natural gas supply and production capabilities being in the hot seat.

  • (+) Imperial Petroleum ($IMPP) +54% because the oil transportation company will also likely benefit, in a major way, from the sanctions placed on Russia.

  • (–) Ocugen ($OCGN) -23% after the FDA declined a pediatric EUA for their COVID vaccine, Covaxin.

3. Top Reads

  • Markets can close, and sometimes they never reopen (WSJ)

  • People want to exit their Russian positions, but they can't (II)

  • It seems like a lot of you are cheating at Wordle (CNBC)

  • The US is a letdown when it comes to work visas (BBG)

  • Higher energy costs are going to be something we have to adapt to (DSGM)

  • Is the Safety Net helping? (Econofact)

  • France seized a Russian Oligarch's yacht after hearing a tip it was leaving (WSJ)

  • Too big to fail? Russian metal edition (WSJ)

  • UK dock workers refuse to unload Russian oil (CNBC)

  • Gold climbs to levels not seen since September 2020 (CNBC)

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4. Book of the Day: Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity

Snowflake CEO Frank Slootman is one of the tech world's most accomplished executives in enterprise growth, having led Snowflake to the largest software IPO ever after leading ServiceNow and Data Domain to exponential growth and the public market before that. 

Amp It Up delivers an authoritative look at what it takes to transform an organization for maximum growth and scale. Slootman shows that most leaders have significant room to improve their organization's performance without making expensive changes to their talent, structure, or fundamental business model—and they don’t need to bring in an army of consultants to do it. What they do need is to align people around what matters and execute with urgency and intensity every day.

Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission. Amp It Up provides the first principles to guide that change, and the tactical advice for organizing a company around them.

Perfect for executives, entrepreneurs, founders, managers, and leaders of all kinds, Amp It Up is a must-read resource for anyone who seeks to unleash the growth potential of a company and scale it to heights they never thought possible.

“No strategy is better than its execution.”

5. Short Squeez Picks

  • RIP Robo-Advisors: Composer is poised to turn “robot” advisors into dinosaurs. Using Composer, individual investors can harness the power of quant-driven trading, the strategy that helps funds like Citadel beat the market (last year Citadel was up 26%). Composer allows you to choose and execute proven strategies. Check out the “Buy the Dips Nasdaq” strategy, and thank us later

  • Neil Diamond sold his song catalog to UMG

  • Is the future of real estate in the lab and research space?

  • Hundreds of thousands of investors are automating their money with this fintech platform*

  • The beauty of simplicity

  • What’s the most important life lesson older people feel you must know?

6. Daily Visual: Organic Price Rebalancing

Source: Axios

7. Daily Acumen: Tips From Amazon Recruiters

Identify your unique value. Highlight your skills for the specific job in your resume, and keep it simple: Focus on your abilities.

Pick and apply for multiple roles based on basic qualifications. Make sure your skills meet the basic qualifications for the jobs that interest you. And ensure your resume reflects those skills.

Don’t cut your experiences short. List all of the previous work experiences you have space for. Don’t try to pick and choose what you think the recruiter wants to see; paint the full picture of your professional involvement.

Quantify your accomplishments. It provides specificity for the hiring professional who is reading your resume. A phrase such as "increased revenue significatly" can mean a broad range of things, whereas "oversaw 37% growth in revenue" states precisely how effective your work was.

Source: Amazon

8. Crypto Corner

9. Memes of the Day

 

 

 

 

 

 

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