Good Morning! Hedge fund returns for 2023 just dropped. Rob Citrone at Discovery led the pack with a 48% return. Bill Ackman had a decent year too with a 27% return for Pershing. TikTok threw Peloton a lifeline - they’ll partner to create content, and $PTON soared 14%. TikTok wants to grow its American shopping business tenfold to $17.5 billion this year. Plus five time management techniques that will have you owning your week, and productivity tips for that inevitable afternoon slump.

Join us for a special webinar on Mineral Rights Investing, hosted by Eckard CEO, on January 8, 2024, at 11:30 AM ET. RSVP here.

_{SQUEEZ OF THE DAY}

Seniors Struggling to Find Jobs

The Class of 2024 is about to begin their second semester of senior year in the coming weeks. And they’re finding that it’s harder than ever to get jobs in finance and tech. 

The pre-pandemic job search was always brutal. But now the landscape is more challenging than ever. Layoffs, hiring freezes, and intense competition mean that even the most polished candidates are left empty-handed without offers.

A study found that in 2022, there was roughly a one-to-one ratio of entry-level openings to recent graduates. But now? There are twice as many qualified candidates as available roles.

Career centers at Ivy League schools say that they’re having as hard a time as ever getting their students employed. And it makes sense - when companies are trying to cut costs, not hiring new employees is sneakily effective.

It used to be simple - lock down the internship and, once you get the full-time offer, you can start senior year without needing to recruit again. But even former Apple summer interns say they got ghosted - they never got a status update on their return offer they were told they’d receive in October.

Takeaway: Some companies like Deloitte, Accenture, and Amazon are pushing back start dates for new hires. It’s unfortunate but when companies need to tighten the belt, they try and take care of their current employees first. The Class of 2024 will land - there are just not enough entry-level jobs available right now. In the meantime, to all the new grads, consider this extra time your 'corporate gap year,’ and enjoy the freedom while it lasts.

_{SPONSORED BY HEAR.COM}

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Let’s be honest: What does Dad really want for the holidays? A new sweater, or…

Crystal-clear hearing from a device so discreet, no one will even notice. 

The Horizon by hear.com is *not* your typical hearing aid–it’s German engineered to process noise and speech separately, delivering maximum speech clarity with minimal background noise.

Bluetooth capable, wireless charging, dual processing… Over 300,000+ people are hearing effortlessly again, thanks to these cutting edge devices.

Make it the best holiday ever–give the joy of hearing with Horizon by hear.com.

_HEADLINES

Top Reads

• Why stocks are falling to start the New Year (YF) 

• TikTok wants to grow shopping business tenfold to $17.5 billion (BB)

• Peloton strikes partnership with TikTok to create fitness content (CNN)

• NCAA and ESPN ink an 8-year, $920 million media rights deal (CNBC)

• Ackman's hedge fund Pershing Square gains 26.7% in 2023 (Reuters)

• Private equity firms with stakes in Cava are disappointed (YF)

• Inside the neighborhood Wall Street designed (WSJ)

• Citadel and Millennium closed 2023 with double-digit gains (YF)

• Gas is now under $3 a gallon across most of America (Axios)

• Private equity’s move into insurance provokes systemic risk concerns (WSJ)

_{CAPITAL PULSE}

Markets Rundown

The Nasdaq closed lower for a fifth day, its longest losing streak since October 2022.

Movers & Shakers

• (+) Peloton ($PTON) +14% after announcing a partnership with TikTok.

• (–) Walgreens ($WBA) -5% after the pharmaceutical company cut its quarterly dividend.

• (–) Mobileye Global ($MBLY) -25% after inventory glut, self-driving company expects Q1 revenue to fall 50% YoY.

Private Dealmaking

• APA bought Callon Petroleum for $4.5 billion

• Goldman Sachs raised $650 million for life sciences bets

• Perplexity AI, an AI-powered search developer, raised $70 million

• Remix Therapeutics, an RNA therapies developer, raised $60 million

• Moonwalk Biosciences, a precision medicines developer, raised $57 million

• Backer, a 529 savings plan startup, raised $9.5 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

_{BOOK OF THE DAY}

Power Moves

From the founder of the influential website Career Contessa, an invaluable career resource for women feeling stuck or unfulfilled that combines actionable advice, learning tools to make impactful life changes, and an in-depth discussion of how to build a meaningful career on your terms.

With her popular website Career Contessa, Lauren McGoodwin built an audience of ambitious, professional, millennial women who thought they did everything right―they got the degree, the internship, and even the promotion―but still wondered why they felt stuck and unfulfilled.

The first site of its kind to focus on the unique, complex aspects of women's careers, Career Contessa offers women the smart advice they deserve, in a voice that resonates.

Drawing on the insights and lessons developed from Career Contessa, Power Moves is the essential handbook that helps professional women truly feel understood so they can bypass perfection and planning and head straight to evolving.

“Power Moves is an honest and brave manifesto on how to take control of your career and, ultimately, your happiness, on your terms.”

_{DAILY VISUAL}

Construction Boom

US manufacturing construction spending

_{MINERAL RIGHTS INVESTING}

Join Us For an Exclusive Webinar on Mineral Rights Investments

Are you looking to build your wealth with passive income streams? Look no further! Eckard is pioneering access to mineral rights investments, an opportunity that has been largely untapped by individual investors—until now.

CEO Troy Eckard will tell you all about how the world of mineral rights investing works, and how you can generate passive income streams of 16%+, in an exclusive webinar for Short Squeez readers.

📅 Date: January 8th, 11:30am ET

🏢 Host: Troy Eckard, CEO of Eckard Enterprises (37+ years of experience in the minerals industry)

_{DAILY ACUMEN}

Mind Wandering

Jonathan Smallwood, a psychologist at Queen's University, embarked on the study of mind-wandering 25 years ago.

His research, particularly utilizing brain scans, revealed that unhappy minds tend to wander into the past, while happy minds often contemplate the future.

Smallwood sees mind-wandering not as a waste of time but as the brain's way of being productive when it perceives minimal external demand.

Go ahead, let yourself wander (hopefully into the future).

_{ENLIGHTENMENT}

Short Squeez Picks

• A day in the life of a leading happiness expert

• 4 essential reads to elevate your business in 2024

• 5 time management strategies for crushing your work week in 2024

• For business success, stop thinking about work after hours

• 5 ways to improve productivity during the 3pm slump

_{MEME-A-PALOOZA}

Memes of the Day