THEME: Blurred lines
Michael’s CIO (Check-It-Out) Report on the week just past — events, sarcasm, and global macro reflections
July 5, 2022 —
THEME: Blurred lines
GL🌍BAL
Blurred lines: Global growth, consumer spending, business spending, and investing estimates are all declining in unison. Economies still seem to be on the cusp of contraction — The lines are further blurred by inflation; for example, if dollar orders increase +4% but inflation is +7%, than real orders decline by -3%
New lows: The world’s sixth largest economy continues to see new lows for its currency, the Indian Rupee, prompting the government to raises taxes on gold imports and fuel exports — many emerging markets face similar stark choices as they combat inflation and capital flight as the U.S. Federal Reserve raises interest rates (which increase desirability of the dollar and may force the world’s largest economy into recession)
Private EUquity: Private equity funds bid a record $73B in the first six months of 2022 for European public companies, double the same period last year — Sharp declines in European stocks as well as the Euro have made companies look cheap — Private equity funds can allow investors to play an advantageous long-term view
WHEALTH
Your legacy planning rationalized: Your priorities and family concerns are paramount; we can help you structure solutions so that your wealth will funnel to your chosen beneficiaries at the time you choose and in the manner you would like to benefit them
Tax intentions: Our tax specialists can provide you with tax-efficient structures and investment ideas, enhance business planning, optimize withdrawals, make sales more efficient, and disclose other approaches to reduce taxes — every little bit helps
BIZNOMIC$
tPhone: SpaceX wins authorization to connect planes, boats, RVs, and other vehicles to Starlink Internet Service — This harkens back to my April Fools mention of a Tesla Phone — It is all about connectivity
Boing! Airbus won a huge order for 292 airliners from four Chinese airlines — A big miss for U.S. based Boeing, but considering the political situation, not a surprising miss😐
CONTENT
Top Gum✈ Heard about the hundreds of flights gummed up in the U.S. because of staff shortages and weather delays? It is even worse in Europe with a shortage of security personnel and baggage handlers as well as labor strikes — European airlines are reducing flights and Scandinavian airline (SAS) filed for bankruptcy in the U.S.
Stranger Things: Season 4
Grow in the dark: Artificial photosynthesis can efficiently grow plants without light by feeding acetate (vinegar) to plants as a carbon source — Huge future potential for urban and space agriculture🌱
PERSONAL
Turn the TIDE: Find me July 6 and 7 at TIDE SPARK 2022, The Investment Diversity Exchange event in Dana Point, California, where I will host a roundtable session
AAA: This is a bit of a non sequitur — Nostalgic road trip memories and “Windshield Duty” by the American Automobile Association (AAA)🚘
Feel-Estate: We were quoted in a MarketWatch “Personal Finance” article regarding family and real estate
Make it a great week😊
Michael
~~~
Michael Ashley Schulman, CFA
Partner & Chief Investment Officer
Running Point Capital Advisors, your family office
“We deliver custom investment solutions, innovations, and unique perspectives to you and your family.”
#familyoffice #yourfamilyoffice #financialplanning #globalmacro #business #stockmarket #assetmanagement #assetallocation #investmentmanagement #capitalmarkets #wealthmanagement #riskmanagement #portfoliomanagement #familyoffices #highnetworth #trading #management #interestrates #analytics #research #consultants #interestrates #covid19 #supplychain #UHNWI #yourfamilyofficehere #humor #markets #Investments #investment #investing #fixedincome #bitcoin #bonds #crypto #stocks #equities #currency #currencies #privateequity #venturecapital #PE #VC #RE #AI #illiquid #commodities #hedgefunds #privatecredit #privatedebt #volatility #impactinvesting #impact #impactinvestments #ESG #EV #Macro #macroeconomics #economics #economy #finance #inflation #money #stablecoin #technology #sustainability #events #news #weekinreview #globalmacro #globaltrade #crypto #defi #NFT #NFTs #bitcoin #cryptocurrency #countries #companies #China #Russia #Ukraine #US #India
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-22-38
Also published on LinkedIn.
