Hello everyone, once again and welcome to another week; welcome to this week’s News Views and Truths…
If it’s not Carbon Dioxide one week, it’s petrol at the pumps the next. It seems that the post-Covid-lockdown consequences are coming home to roost, not just in the UK, but globally. And as I indicated in my latest investment webinar last week, these pressures are resulting, not just with driver frustration, but with higher inflation data on both sides of the Atlantic.
But at least we aren’t in China.
In order to curb energy production emissions, the Chinese government have ordered a reduction in electricity supply to industries across the province of Jiangsu, whose $1.8trn economy is similar in size to that of Canada.
This is hitting facilities that produce components for Apple, Tesla, Intel, Nvidia and Qualcomm and, at some sites, production has halted completely. However, if you do not hit these emissions targets, your electricity is simply turned off. Suspensions of electricity supply have been rolled out to the provinces of Liaoning, Jilin, and Heilongjiang.
So at least we have electricity – for now…
Moving on to something that is more positive, a hamster called Mr Goxx has been trading various cryptocurrencies since June this year and has so far outperformed the US S&P 500 Index, whilst also being live-streamed on the Twitch online gaming platform.
Now, I’m going to disappoint some of you by stating that he does not sit at a computer, nor trades based upon fundamentals. His owner has in fact created an extension to Mr Goxx’s home called the “Goxx Box” which allows the hamster to “trade”.
First, Mr Goxx runs on the “intention wheel” to pick which one of about 30 cryptocurrencies to trade. Once the crypto is chosen, he then runs through one of two “decision tunnels” that trigger either a buy or sell trade of the chosen cryptocurrency.
The hamster started out with the Euro equivalent of $390 in his exchange account on June 12 2021 and, since then, Mr Goxx has managed to grow his overall asset portfolio to an impressive $498. In fact, Mr Goxx was sitting on $580 last week before Bitcoin tumbled, which brought the rest of the crypto market down with it.
So, how about when you get home, let your cat buy some equities. For science, obviously.
If you haven’t watched them already, tune in to our latest investment and financial planning videos on our YouTube channel. First off, I talked to Swetha Ramachandran of GAM Investing in the world of luxury brand investing; what makes a luxury brand, how has the sector fared and what the opportunities are as we move out of lockdown.
Secondly, Corryn Wild talks about the upcoming increases in National Insurance and Income Tax on Dividends, and the associated changes to how individuals will be expected to contribute towards the costs of their care.
And finally, as ever, a playlist. Have a great week and I shall see you all in seven days, if not before…