If your tax situation is getting too complicated for TurboTax or your run-of-the-mill accountant, it’s time to talk to Gelt. They’re a modern tax company designed for high-income earners, investment-savvy individuals, and business owners. You could be leaving thousands of dollars on the table (I was before I started using them). Check them out now.
Hey there weekday warriors,
Don’t freak out, but Google is going nuclear.
Enjoy the next 4 minutes and 28 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
+ US stocks “rose on Monday with two major indexes clinching record closes as Nvidia (NVDA) led a risk-on rally in the market that permeated through most sectors and even into cryptocurrencies.” (Yahoo! Finance)
+ Oil “fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.” (Reuters)
+ Bitcoin “jumped on Monday, extending a weekend rebound as defunct crypto exchange Mt Gox postponed plans to return assets to creditors by a year, assuaging fears of a near-term sell event.” (Investing)
+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia +2.4% 2) Trump Media +18.4% 3) Tesla +0.6%
The market moves you need to know about…
+ Google getting behind nuclear helped boost the entire industry yesterday. Alphabet said it’s partnering with a nuclear developer to fuel its power-thirsty data centers (more on that below). Shares of the nuclear tech firm Oklo jumped 9.7% on the news (spoiler: Oklo isn’t even the company partnering with Google).
+ Hims & Hers lives by the FDA drug shortage list and dies by the FDA drug shortage list. Just a few weeks after news broke that the FDA was planning to remove Eli Lilly’s weight loss drug from its shortage list, rumors that the FDA is reconsidering its decision sent shares of HIMS up 9.6%. ICYMI, the company best known for its store-brand V*agra has been rewarded handsomely by shareholders for slinging knockoff (read: compounded) weight loss drugs.
Your accountant is probably costing you more than you think...
And if you're using "free" tax software, you're DEFINITELY leaving money on the table.
There's another alternative out there. Someone who understands unique tax situations and cares enough to work together throughout the year... NOT just at tax time.
Meet Gelt, a modern tax company designed for high-income earners, investment-savvy individuals, and business owners & professionals. They use expert CPAs and proprietary technology to simplify the complexities of tax planning and filing with a personalized approach.
Gelt is the kinda tax partner who brings up the sort of things your accountant doesn't even think about...
For investors: Navigating the intricacies of Qualified Small Business Stock (QSBS) provisions to take advantage of significant tax exclusions on capital gains
For those of you with stock options: Analyzing and suggesting an exercise schedule that minimizes the Alternative Minimum Tax (AMT)
For those of you with kids: Setting up 529 college savings plans, with the goal of potentially converting these funds into Roth IRAs for each child later on
I know because I use them. I switched when I realized my accountant just wasn't cutting it (and costing me money).
If you’re ready to simplify and optimize your tax experience, don't wait for "tax season." This is your last chance to put in place key strategies that will optimize your taxes for 2024 (and beyond).
And right now they’re giving The Water Coolest readers 10% off.
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This ain’t your daddy’s nuclear reactor…
Google announced a deal on Monday to purchase energy from small nuclear reactors that the startup Kairos Power plans to start bringing online in the U.S. by 2030
— #Eliant Capital (#@eliant_capital)
7:04 PM • Oct 14, 2024
All the companies that pivoted from the Internet of Things… to crypto… to AI are about to add “nuclear” to their pitch decks….
You see, for the second time in less than a month, a major AI player is going nuclear. In September, Microsoft said it was partnering with Constellation Energy to fire up Three Mile Island.
And yesterday, Google (+1.1%) inked a deal with a nuclear player to help power its data centers. Shocker… Google is once again playing catch up to Microsoft in artificial intelligence.
The creator of Bard Gemini will partner with Kairos Power (side note: how long until someone incorporates Kenny Powers?) to mainline clean energy into the grid. That will help offset the girthy amounts of energy its AI data centers hoover up.
To put things in perspective, Google claims its emissions have grown nearly 50% vs. 2019 due largely to the impact of AI. McKinsey be like: “Ok, hear me out, Sundar… have you tried just laying off your entire ESG team?”
This ain’t your daddy’s nuclear reactor…
Kairos Power isn’t a regular nuclear power company, it’s a cool nuclear power company. They produce SMRs (small modular reactors, for all you fossil fuel fiends out there). Think: reactors that are much smaller and cheaper to produce (…and presumably will only melt the faces of a neighborhood vs. an entire city).
Just one problem… only like 3 SMRs exist in the world. China and Russia both beat the US to market, which is kinda terrifying given Russia’s history.
Building these things is hard enough. But what might be an even bigger headache is cutting through all the government red tape and overcoming NIMBYism (because hell hath no fury like a group of PTA moms with a Facebook group).
Your move, Zuck…
+ In what has to be the most boomer sh*t I've ever heard, Warren Buffett now owns nearly 1/3 of SiriusXM (+7.9%). It appears the Oracle fell for the SiriusXM free trial in his Buick (we can all agree it's definitely a Buick, right?) hook, line, and sinker.
Last week, Berkshire Hathaway bought an additional $87M worth of shares... for some reason. Of course, the move could have been made by one of WB's underlings, since SIRI doesn't exactly scream "fundamentally sound with a huge moat."
Although, the price is hard to beat. Shares have fallen 50% since the beginning of this year... excluding yesterday's Buffett boost.
+ Whoever did the most work in this group project has gotta be so angry right now…
The Nobel Prize for Economics was awarded to Cardi B for her work on inflation a trio of economists: Daron Acemoglu, Simon Johnson, and James Robinson. They’re the co-authors of “Why Nations Fail: The Origins of Power, Prosperity and Poverty.” Their work explored why some countries (read: the US) are so much more prosperous than others (read: the field).
+ “I, for one, am shocked.” - no one ever
Paul Singer’s Elliott Management is calling a special meeting of Southwest Airlines (-0.8%) shareholders. And there is only one item on the agenda: replace at least 8 directors (thus taking control of the board). Calendar invites could go out as soon as this week for a meeting next week.
It’s unlikely management and the board will be able to avoid the inevitable (think: updating their LinkedIn), given how fed up shareholders have become with S-Dub's inability to turn a profit/be even remotely competent.
+ The bull market is 2 years old. Here's where Wall Street thinks stocks go next. Stocks. Only. Go. Up.
+ Is now the right time to apply for that travel card? There’s never been a better time to make airline miles a huge part of your personality.
🔥 ‘No one writes about “rich guy” early retirement’: My wife and I earn $300,000 a year and have $3.75 million. We have 3 kids. When can I quit working? Never. Now back to your cubicle.
You asked for more real estate content. Who am I to say no?
+ The 5 Cities With More Homes Priced Below $300K Than Anywhere Else in the Country. I was unaware you could buy a mobile home for less than $300k.
+ The truth about cash flow with rentals. Prepare to be disappointed.
FYI, TWC might be compensated if you click on the links above. So, what are you waiting for? Start clicking.
⏪ Not a whole lot going on yesterday…
⏩ Today we’re keeping an eye on…
+ J&J, Bank of America, Goldman, Citi, Charles Schwab, PNC, and Walgreens report this AM
+ Interactive Brokers and United Airlines report after the bell
+ Lenovo hosts Tech World 2024 (spoiler: they're going to talk about AI)
+ The National Retail Federation releases its 2024 holiday sales forecast
Yesterday, I asked, “You get $10M but you have to leave your home country (US for most of us, I assume) and you can never come back. Family can come with you and they're able to go back and forth as they please. Are you taking the money?”
75.6% of you are taking the money and getting the f*ck out of dodge.
And here’s today’s questions…
Would you rather win a Nobel prize (yes, you get the $1M) or win $4M in the lottery?
What did you think about today's newsletter?
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.