Grant Cardone warns of biggest real estate correction in his lifetime within 12 months heres where he identifies tremendous opportunity' for savvy investors

Prolific real estate investor Grant Cardone is sounding the alarm on significant changes within his industry.

During a recent conversation on Fox Business with host Charles Payne, Cardone shared a grim forecast for the real estate market.

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Were going to have the biggest real estate correction we've ever had here in the next 12 months, he said. It'll be monster, and it will hit Gen Zs in a way that they'll never touch that asset class again.

The implications of major real estate downturns are profound, as evidenced by the Great Recession in the late 2000s in which millions of Americans defaulted on their mortgages and lost their homes.

This time, however, Cardone believes the impact will be unprecedented and focused primarily on larger developments rather than single-family homes. And if Cardones predictions are true, a certain group of investors are likely to benefit from this correction.

For most people, the single-family home is still thought of as the most accessible and familiar real estate asset. Multi-unit properties, by contrast, have typically been beyond the reach of the average American.

However, Cardone believes this dynamic is set to change.

You have major institutions that are releasing assets back to regular, ordinary, everyday people, he said. Institutions are having to let those properties go because their debt is due.

According to Cardone, this presents a tremendous investment opportunity for regular Americans. He even thinks it could serve as a gateway to substantial opportunities for all age groups, particularly Gen Z.

This is true generational wealth redistribution, he argues.

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Cardone is no stranger to making bold statements. After all, the man once called buying a home the worst investment people can make.

Instead, Cardone favors rental properties, seeing them as a more robust investment. In fact, despite anticipating a significant market correction, he remains confident about the future of this asset class.

I'll make a prediction right now real estate will be the number one [investment] category by the year 2026, for all age groups. I guarantee it, he told Payne, outlining several of its advantages.

Its easy to leverage, protects you against inflation, benefits from rent increases, and provides cash flow that people have to have today, said Cardone.

He makes a compelling argument: real estate is widely recognized as an effective hedge against inflation. As the price of raw materials and labor goes up, new properties are more expensive to build. This can drive up the price of existing real estate.

Well-chosen properties offer more than just potential for price appreciation. Investors also get to earn a steady stream of rental income. Plus, rental rates typically rise with inflation, further enhancing the investments value over time.

The best part? You dont need to be a real estate mogul like Cardone to own rental properties. These days, there are many real estate investment trusts (REITs) and crowdfunding platforms that enable everyday Americans to earn rental income without becoming a landlord.

So, while there may be some facts to face for single-family homeowners over the next year, there could be a new investment to seize just a few blocks away.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

See original here:

Grant Cardone warns of biggest real estate correction in his lifetime within 12 months heres where he identifies tremendous opportunity' for savvy...

Grant Cardone warns of biggest real estate correction of his life but sees tremendous opportunity' for some

Prolific real estate investor Grant Cardone is sounding the alarm on significant changes within his industry.

During a recent conversation on Fox Business with host Charles Payne, Cardone shared a grim forecast for the real estate market.

Were going to have the biggest real estate correction we've ever had here in the next 12 months, he said. It'll be monster, and it will hit Gen Zs in a way that they'll never touch that asset class again.

The implications of major real estate downturns are profound, as evidenced by the Great Recession in the late 2000s in which millions of Americans defaulted on their mortgages and lost their homes.

This time, however, Cardone believes the impact will be unprecedented and focused primarily on larger developments rather than single-family homes. And if Cardones predictions are true, a certain group of investors are likely to benefit from this correction.

For most people, the single-family home is still thought of as the most accessible and familiar real estate asset. Multi-unit properties, by contrast, have typically been beyond the reach of the average American.

However, Cardone believes this dynamic is set to change.

You have major institutions that are releasing assets back to regular, ordinary, everyday people, he said. Institutions are having to let those properties go because their debt is due.

According to Cardone, this presents a tremendous investment opportunity for regular Americans. He even thinks it could serve as a gateway to substantial opportunities for all age groups, particularly Gen Z.

This is true generational wealth redistribution, he argues.

Cardone is no stranger to making bold statements. After all, the man once called buying a home the worst investment people can make.

Instead, Cardone favors rental properties, seeing them as a more robust investment. In fact, despite anticipating a significant market correction, he remains confident about the future of this asset class.

I'll make a prediction right now real estate will be the number one [investment] category by the year 2026, for all age groups. I guarantee it, he told Payne, outlining several of its advantages.

Its easy to leverage, protects you against inflation, benefits from rent increases, and provides cash flow that people have to have today, said Cardone.

He makes a compelling argument: real estate is widely recognized as an effective hedge against inflation. As the price of raw materials and labor goes up, new properties are more expensive to build. This can drive up the price of existing real estate.

Story continues

Well-chosen properties offer more than just potential for price appreciation. Investors also get to earn a steady stream of rental income. Plus, rental rates typically rise with inflation, further enhancing the investments value over time.

The best part? You dont need to be a real estate mogul like Cardone to own rental properties. These days, there are many real estate investment trusts (REITs) and crowdfunding platforms that enable everyday Americans to earn rental income without becoming a landlord.

So, while there may be some facts to face for single-family homeowners over the next year, there could be a new investment to seize just a few blocks away.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Read this article:

Grant Cardone warns of biggest real estate correction of his life but sees tremendous opportunity' for some - Yahoo Finance

Entering her 10th season at Florida, Gators gymnastics head coach Jenny Rowland has pioneered UF to seven-straight SEC regular season championships and four-straight Four on the Floor appearances.

But success in the sport isnt Rowlands only goal for her team.

Her experience as a gymnast shaped her coaching philosophy, prioritizing enjoyment and self-improvement alongside winning.

You can work hard, you can enjoy what you're doing and you can have success, Rowland said. Those are three things that I really just lean on and what Ive lived by since I got back into the sport and especially when I started coaching.

Rowland was a USA National Team member from 1985-1990, and she was named an All-American on the uneven bars in 1993 for Arizona State University.

Following her career, Rowland stepped back from the gym, enrolling at the University of Oklahoma to work toward her bachelor's in health and sports sciences.

There was a point in time where I completely lost my love for the sport, Rowland said. But having to pay my way through school, a gym just happened to fall into my lap.

That gym was the Bart Conner Gymnastics Academy in Norman, Oklahoma. Rowland credits the academy for reestablishing her love for the sport she dedicated her childhood and early adult years to.

She then began her position as an assistant coach for Oklahoma before leaving in 2010 to take the same job at Auburn.

At Auburn, Rowland became the associate head coach and was named Co-National Assistant Coach of the Year in 2015 after helping the Tigers reach the NCAA Super Six for the first time in 22 years.

Her talents as a Tiger attracted the Gators. UF hired her within months, and she became the seventh head coach in program history.

Since then, Rowland has established herself as one of the top coaches in the nation, winning the 2020 Womens Collegiate Gymnastics Association National Coach of the Year award and three SEC Coach of the Year awards.

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Having coached some of the top gymnasts in the country in her time at UF, Rowland established a unique culture for the program one less focused on scores but fixated on being competitive and having fun.

We like to say, Train freely, compete freely, Rowland said. When you train freely, you compete freely. We like to win, but were going to enjoy the process.

Rowlands position offers her a prestigious opportunity to watch her athletes grow from their time as freshmen to progressing toward their future, whether that be in the sport or another avenue.

Its really important to find something else that you are just as passionate about in life other than gymnastics, because gymnastics may not always be there, Rowland said. So helping them find an identity and understand that we acknowledge that they are not just a gymnast.

Her athletes embrace this philosophy.

Junior Leanne Wong is the CEO of Leanne Wong Bowtique, where she sells bows and other accessories to young girls.

She hopes the business can inspire the future generation of gymnasts.

I started my bow business in December of 2021, Wong said. Its something I love to do outside of school and gymnastics.

Wongs overall excellence both on and off the mat awarded her a spot as a replacement athlete for the 2024 Summer Olympics.

Im super grateful to have such a great support staff and the best coaches here to be able to see me through both college and the elite season, Wong said.

Florida associate head coach Owen Field joined the program at the same time as Rowland. Field will be traveling with Wong to coach her in Paris.

Im super proud of Leanne and all the hard work shes put in, Field said. Its really rewarding to see all that pay off and to see her accomplish some of her goals.

Field was promoted to the associate head coach role this summer. His coaching dynamic compliments Rowlands, both preaching to enjoy the sport.

We remind [Wong] to enjoy every moment and stick to the plan, Field said. Her position as an alternate is to be ready whenever they need her, so that constant reminder of treating every day like she is competing so that if something happens shes ready to go.

Now heading into her tenth season as the Florida coach, Rowland and Field have the same goal for the team: be the best version of yourself in every aspect of your life.

We want to help them become a more well rounded person, and be ready to attack life once they graduate, Rowland said. Were trying to get them 1% better in the gym, 1% better at life.

Contact Max Bernstein at mbernstein@alligator.org. Follow him on Twitter @maxbernstein23.

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Jenny Rowlands emphasis on personal growth, fun inspires success in Florida gymnasts - The Independent Florida Alligator

One of the rules of ikigai is to stay active and not retire, and many centenarians, especially those living in the world's blue zones, never do.

We spoke to several centenarians over the past year and a half about what behaviors and traits they believe helped them to live a long and happy life. Here's why they say finding meaningful work and not retiring played a major role.

Virginia Oliver, 104, has been catching lobsters since she was eight years old, and she really enjoys it. So much so that the centenarian signed up for lobster-catching season this year.

Oliver's secret to living beyond age 100 boils down to: "You've gotta keep living, you gotta keep working. It's not easy," she said in a mini-documentary about her life.

When asked about her future plans for lobstering by TODAY.com, Oliver said, "I'm not going to retire," adding, "I'm going to do this till I die."

Deborah Szekely, a 102-year-old, started her fitness resort and spa alongside her then-husband in 1940. More than eight decades later, Szekely still works at her business three times a week.

"We have fabulous speakers every night. I meet with the presenters [every] Tuesday, so I know what my guests are talking about," she told CNBC Make It in May.

"Wednesday, I speak. And Thursday, I meet individuals who I want to know, or friends. So I work three days a week: Tuesday, Wednesday, and Thursday."

Every week that she shows up at her spa, Szekely said, "it makes a change."

"When nature says, 'You got to stop Deborah.' Deborah will stop, until then she'll keep going," she added.

Deborah Szekely, 102, co-founded one of the first wellness resorts in North America in 1940.

Source: Rancho La Puerta

Madeline Paldo was a recent retiree at age 100 when she spoke to Make It in September of 2023. Paldo worked between the ages of 18 and 99.

Working "kept me busy, and I enjoyed working," she said. "Retirement, I don't like too much."

Paldo supported her family's business based in Chicago where they produced electric signs, and she was responsible for office work which allowed her to interact with customers daily.

"I liked being with the public. I liked being with people," she told CNBC Make It. "And I was the only one in the office that did all of the office work for our business, so it was enjoyable. I liked to go to work."

Jayne Burns, who was turning 101 in the month following her interview with CNBC Make It in 2023, still worked four days a week as a part-time fabric cutter at a crafts store.

"I enjoy what I do, so I want to keep doing it," Burns told Make It. "I'll work for as long as I can or as long as they'll have me."

She tried to retire several times over the years but would "unretire" within a few months, she said. Working at jobs that she enjoyed gave her a daily routine which she values and allowed her to interact with new people.

"Staying busy keeps you from focusing on your aches and pains," she said. "It makes it easier to keep going."

Want to stop worrying about money?Sign up for CNBC's new online courseAchieve Financial Wellness: Be Happier, Wealthier & More Financially Secure. We'll teach you the psychology of money, how to manage your stress and create healthy habits, and simple ways to boost your savings, get out of debt and invest for the future. Start today and use code EARLYBIRD for an introductory discount of 30% off through September 2, 2024.

Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

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These 100-year-olds say working beyond retirement age is what keeps them going: 'I'll work for as long as I can' - CNBC

Retirement Isn't Always Planned, Woman In Her Late 50s Forced Into Early Retirement With Only $650,000 In Savings

In a recent discussion about retirement, two common perspectives often arise among Americans: "I'm going to have to work forever" or "I have a good retirement plan in place that will allow me to retire comfortably." However, for many, there's a middle ground that can be difficult to plan for.

Deb Hallisey, a 66-year-old New Jersey resident, faced this challenge. After losing her father in 2015, she had to pause her career to take care of her blind mother. When her billable hours continued to drop, she was let go from her job.

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Hallisey saved diligently during her career as a consultant. As a single woman, she knew she had to provide for herself. After losing her job, she continued to take care of her mother until she died in 2022. While caring for her mother, she started writing about her caregiving experience and even launched a website sharing her stories. She also wrote two books about caregiving and turned her experience into a business, speaking about caregiving and consulting for families.

Halliseys financial stability was tested despite her $600,000 in retirement savings and a $50,000 emergency fund. She draws $2,500 a month from her retirement savings and earns $500 from her business. The stock market has kept her balance at $525,000, and her home, valued at about $500,000, is mortgage-free.

This year, Hallisey plans to claim Social Security. She'll use her $3,400 monthly benefits to help with living expenses. With that, she plans to leave her retirement savings for emergencies, including future caregiving expenses that may arise for herself.

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"I'm not making enough to support myself," Hallisey told the Wall Street Journal. "But I love it."

Hallisey's story underscores a harsh reality: many Americans expect to work until they die, but health issues or caregiving responsibilities can force early retirement. Personal finance influencer Kara from TikTok points out that Hallisey's situation, though seemingly well-prepared with $650,000, is insufficient to retire comfortably in the U.S.

"This is what I think is so common," Kara says, "And its going to happen to a lot of us. A lot of people in the United States think, Oh, Ill just work until I die' ... Which is really bleak in its own way, but its also, unfortunately, not true. You are much more likely to run into a health issue, or someone elses health issue that prevents you from working, but continue to be alive, and thats how you will retire."

Story continues

See Also: Will the surge continue or decline on real estate prices? People are finding out about risk-free real estate investing that lets you cash out whenever you want.

Kara emphasizes the importance of planning for the possibility of early retirement due to unforeseen circumstances. It's impossible to know every little or major thing that will happen in our lives, and many retirees continue to live for decades after they retire whether that retirement was planned or not. As people age, living expenses tend to rise with the cost of medical care and other unexpected needs.

Experiences like Hallisey's demonstrate the importance of proactive financial planning and preparing for the unexpected. Retirement isn't always a choice, and it's critical to have a robust plan in place. Consulting a financial advisor can help tailor strategies to individual circumstances, ensuring better preparedness for uncertainties.

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This article Retirement Isn't Always Planned, Woman In Her Late 50s Forced Into Early Retirement With Only $650,000 In Savings originally appeared on Benzinga.com

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Retirement Isn't Always Planned, Woman In Her Late 50s Forced Into Early Retirement With Only $650,000 In Savings - Yahoo Finance

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate products and services to help you make smart decisions with your money.

Self Rent Reporting

Fees

$0-$6.95 monthly + optional $49.95 fee for retroactive reporting

A good credit score is important to qualify for financial services like a loan, credit card, or even insurance. But if you have limited or no credit history, building credit can feel impossible. Enter Self Rent Reporting, a rent reporting service.

Self Rent Reporting reports your rent and other bills to the credit bureaus. This improves your payment history and, as a result, your credit score, without needing to take on debt. As one of the companies listed in Business Insider's guide to the best rent reporting services after a thorough review, Self Rent Reporting stands out for offering several credit-building perks for one competitive price.

Self Rent Reporting is a rent reporting service that was acquired by Self Financial, a fintech company specializing in various credit-building tools. Self Financial also operates the Self credit builder loan, one of the best credit builder loans available.

Self Rent Reporting is an iteration of RentTrack, which was only available to residents whose property owners offered it. Now, Self Rent Reporting does not require your landlord's involvement, so anyone who pays rent online can access the credit-building platform.

Now that credit-building company LevelCredit has joined Self, existing users will transition into Self subscriptions, and new users will sign up for Self. LevelCredit says on its website that it will notify users before changing their subscription.

Self Rent Reporting's basic tri-bureau rent reporting is free, which is certainly hard to beat. You can upgrade to its paid service for $6.95 monthly, which includes utility bill payments added to your TransUnion credit report along with credit monitoring and identity theft insurance.

Self Rent Reporting offers the following services:

To get started with Self Rent Reporting, you'll need several pieces of information, including your date of birth and Social Security number. The company uses your information to verify your identity and report your payments to the bureaus. Self Rent Reporting performs a soft pull on your credit file, so you don't have to worry about your credit score dropping.

Then you'll need to connect your bank account so Self Rent Reporting can verify your rent payments. The company can detect payments from your bank direct deposit, your property manager's online payment portal, Venmo, Zelle, or Paypal. Self Rent Reporting will also accept paper checks, money orders, and cashier's checks. However, cash payments aren't accepted.

Self Rent Reporting will report your rent as a positive payment to the three major credit bureaus the next day and your utilities to TransUnion. The credit bureaus typically take up to a month to update your credit file.

Under Self, basic rent reporting with Self Rent Reporting is free. You can upgrade your plan to add utility reporting, identity theft insurance, and credit monitoring with TransUnion for $6.95 monthly.

Self Rent Reporting also offers optional retroactive rent and utilities reporting for $49.95, which adds up to 24 months of previous payment history to your credit reports. Retroactive reporting can be added to both the free rent reporting plan and the full plan.

Self Rent Reporting received mixed reviews from users, earning a 2.7 out of five from Trustpilot and a 3.7 out of five from the Better Business Bureau (BBB). Customers express dissatisfaction with inaccurate bill reporting. Users also report seeing negative effects on their credit scores after using the platform.

In contrast, people praised the company's customer service, citing quick response times and an easy process. It's worth mentioning that the BBB and Trustpilot have a small volume of reviews for the company. So, Self Rent Reporting's online reviews may not be a complete representation of its quality of customer service and product.

Self Rent Reporting's features are accessible via web browser and the Self mobile app. The Self app received a 4.6 out of five on Google Play and 4.9 out of five from the Apple app store, showing that customers found the app easy to use.

Like Self Rent Reporting, Boom offers monthly rent reporting. Boom costs just $3 per month. While it can't beat Self Rent Reporting's free rent reporting, Boom's rates are still extremely low, lower than Self Rent Reporting's paid subscription. However, Self Rent Reporting's premium service also offers utility reporting, identity theft insurance, and credit monitoring from TransUnion. Boom doesn't offer this.

What Boom does offer is affordable retroactive rent reporting at $25, half the cost Self Rent Reporting's retroactive reporting. Boom also doesn't require your landlord's involvement, while Self Rent Reporting will contact your landlord to verify your lease information.

While Self Rent Reporting is a good rent reporting option, Boom offers a cheaper alternative if you just want simple rent reporting without all the dressings.

Read our BoomPay review to learn more.

Rental Kharma costs $75 signup + $8.95 monthly for ongoing reporting. It also doesn't have credit-building perks like Self Rent Reporting does, but Rental Kharma lets you report all your past payment history at your current rental, no matter how far back the payment was. Self Rent Reporting only reports payments up to 24 months back, limiting your credit-building opportunities. Rental Kharma only reports to Equifax and TransUnion, while Self Rent Reporting reports to all three credit bureaus.

Rental Kharma has a 90-day, 100% money-back guarantee. Its refund policy gives you ample time to try the service out and see changes to your score. Self Rent Reporting only provides refunds if it fails to deliver on agreed-upon services, which doesn't include credit score improvements. Rental Kharma also offers discounts when you add a spouse and roommates.

Read our Rental Kharma review to learn more.

RentReporters costs $94.95 one-time fee + $9.95 monthly or $94.50 annually. Its features could make it attractive to customers. RentReporters plans allow you to report up to 48 months of payment history. This feature is useful if you've recently moved to another apartment but want to capture the payments from your previous lease.

If you opt into RentReporters VIP service, which is included with the annual plan or costs an additional $25 with the monthly plan, your past 24 months of rent can be reported to the credit bureaus within three to five days. This quick reporting can be a great benefit if you're looking for ways to boost your credit score quickly (like if you're a prospective homebuyer with a limited credit history).

RentReporters also guarantees a full refund if you're not satisfied within seven days of your initial results (i.e., once your credit score has been updated to reflect your reported rental payments).

Read our RentReporters review to learn more.

Yes, Self Rent Reporting is a legitimate company. It is BBB accredited, receiving a B+ ratings. It also provides bank-level security measures and a comprehensive privacy policy that outlines how it uses your data.

Self Rent reporting reports to major credit bureaus, enhancing the credit-building potential for users.

Self Rent Reporting can impact your credit score by reporting timely rent payments which can positively affect your credit score by building a history of on-time payments.

Self Rent Reporting takes about 24 hours once your rent payment appears on your bank account. That's because before reporting your rent payment to the credit bureaus, Self must verify. Updates to your credit score can take up to a month after rent reporting.

We examine several factors to rate rent reporting companies. First, we look for reporting to Equifax, Experian, and TransUnion. When you apply for a financial product, lenders will pull your credit file from one of the three bureaus to assess your eligibility, so it's important for rent payments to show up on credit reports from all three bureaus.

Secondly, we evaluate the comprehensiveness of a company's offerings. In other words, we look at whether the company offers special perks aside from rent reporting. Some examples of these benefits include utility and cell phone bill reporting, long retroactive rent reporting periods, and roommate or spouse discounts. We then weigh the product's cost against its value.

Finally, we assess user experience through third-party ratings and information outlined in the company's fine print. This includes the company's customer satisfaction, longevity, ease of use, refund policy, and other relevant components.

Jennifer Streaks

Senior Personal Finance Reporter and Spokesperson

Go here to see the original:
Self Rent Reporting Review: Benefits, Features, and User Experience - Business Insider

How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.

Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.

What if you'd invested in Apple (AAPL) ten years ago? It may not have been easy to hold on to AAPL for all that time, but if you did, how much would your investment be worth today?

Apple's Business In-Depth

With that in mind, let's take a look at Apple's main business drivers.

Apples business primarily runs around its flagship iPhone. However, the Services portfolio that includes revenues from cloud services, App store, Apple Music, AppleCare, Apple Pay, and licensing and other services now became the cash cow.

Moreover, non-iPhone devices like Apple Watch and AirPod gained significant traction. In fact, Apple dominates the Wearables and Hearables markets due to the growing adoption of Watch and AirPods. Solid uptake of Apple Watch also helped Apple strengthen its presence in the personal health monitoring space.

Apple is expanding non-iPhone portfolio with the launch of Apple Vision Pro a spatial computer that blends digital content with the physical world.

Headquartered in Cupertino, CA, Apple also designs, manufactures and sells iPad, MacBookand HomePod. These devices are powered by software applications including iOS, macOS, watchOS and tvOS operating systems.

Apples other services include subscription-based Apple News+, Apple Card, Apple Arcade, new Apple TV app, Apple TV channels and Apple TV+, a new subscription service.

In fiscal 2023, Apple generated $383.29 billion in total revenues. The companys flagship device iPhone accounted for 52.3% of total revenues. Services, Mac and iPad category contributed 22.2%, 7.7% and 7.4%, respectively. Wearables, Home and Accessories products category contributed 10.4%.

Apple primarily reports revenues on a geographic basis, namely the Americas (North & South America), Europe (European countries, India, Middle East and Africa), Greater China (China, Hong Kong & Taiwan), Japan and Rest of Asia Pacific (Australia & other Asian Countries).

In fiscal 2023, Americas, Europe, Greater China, Japan and Rest of Asia-Pacific accounted for 42.4%, 24.6%, 18.9%, 6.3% and 7.7% of total revenues, respectively.

Apple faces stiff competition from the likes of Samsung, Xiaomi, Oppo, Vivo, Google, Huawei and Motorola in the smartphone market. Lenovo, HP, Dell, Acer and Asus are its primary competitors in the PC market. Other notable competitors are Google & Amazon (smart speakers) and Fitbit & Xiaomi (wearables).

Story continues

Bottom Line

While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in Apple ten years ago, you're probably feeling pretty good about your investment today.

According to our calculations, a $1000 investment made in July 2014 would be worth $9,495.93, or an 849.59% gain, as of July 19, 2024. Investors should keep in mind that this return excludes dividends but includes price appreciation.

Compare this to the S&P 500's rally of 180.28% and gold's return of 79.01% over the same time frame.

Going forward, analysts are expecting more upside for AAPL.

Apples near-term prospects remain foggy due to sluggish China sales amid stiff competition. It expects the June quarters (third-quarter fiscal 2024) revenues to grow low-single-digit year over year. Unfavorable forex is expected to hurt revenues by 2.5%. Apple has been playing catch-up in the AI space compared with Alphabet, Microsoft and Amazon, its peers in the magnificent seven group. Following the launch of Apple Intelligence, its competitive position is expected to improve. Moreover, Apple is benefiting from increasing customer engagement in the services segment. The expanding content portfolio of Apple TV+ and Apple Arcade helped drive subscriber growth. Apples top-line benefits from strong growth in emerging markets and growing adoption of its devices among enterprises.

Over the past four weeks, shares have rallied 6.92%, and there have been 3 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.

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Here's How Much a $1000 Investment in Apple Made 10 Years Ago Would Be Worth Today - Yahoo Finance

This is a rare case where average-net worth individuals can make a better investing decision than the billionaires.

Stanley Druckenmiller is one of the richest people in the world, with a net worth of $6.2 billion as of this writing, according to the "Real-Time Billionaires List" from Forbes. And he was able to pad his numbers with an extremely timely investment in Nvidia (NVDA -2.61%).

In the fourth quarter of 2022, Druckenmiller bought over 580,000 shares of Nvidia for his investment firm Duquesne Family Office. As of the first quarter of 2024, he's reduced his stake in Nvidia down to about 176,000 shares. But that's after riding his position to enormous gains.

NVDA data by YCharts

Druckenmiller swapped out shares of one of the most valuable companies on earth -- Nvidia -- with shares in something that's on the other end of the spectrum entirely. A May filing revealed that Duquesne Family Office had purchased a position in the iShares Russell 2000 ETF (IWM -0.51%), roughly valued at $700 million right now.

Most investors are aware of the S&P 500 -- an index of 500 of some of the largest companies on the stock market. But fewer are aware of the Russell 2000 index, which is for small-cap stocks. In short, Druckenmiller expects shares of smaller companies to generally perform well from here.

There's good reason to believe this. According to Yardeni Research, valuations for large-cap stocks and small-cap stocks were comparable before the pandemic. But right now, the average forward price-to-earnings (P/E) ratio for the S&P 500 is about 22, whereas the forward P/E for the S&P SmallCap 600 is about 15 -- more than 30% cheaper.

Smart investors see this valuation gap between the big companies and the small ones. The small ones are being overlooked and are consequently cheap, which creates an opportunity that Druckenmiller apparently wants to exploit.

It may have been a timely bet. As the chart shows, performance for the Russell 2000 is quickly perking up, with the corresponding exchange-traded fund (ETF) jumping 13% in just the past month.

IWM data by YCharts

For investors looking to follow Druckenmiller's moves, they could buy shares of the iShares Russell 2000 ETF like he did. But remember that this is a bet on small-cap stocks in general. He likely made a generalized bet because he has too much money to invest. He can't pick individual small-cap stocks because he would acquire too big of a stake, running into regulatory issues and potentially moving the market.

By contrast, most regular investors can buy top small-cap stocks without worrying about controlling too much of the company. Identifying the best ideas in the small-cap space might be a better way to imitate Druckenmiller in this case. And I have three ideas for investors to consider: Xometry (XMTR -0.91%), Driven Brands (DRVN 1.14%), and PubMatic (PUBM 1.77%).

Xometry operates an online marketplace for the manufacturing industry and powers it with its artificial intelligence (AI) software. Without getting into the weeds, I believe that the numbers suggest that its AI-powered platform offers players in this space something special.

At the end of 2019, Xometry only had 11,500 active buyers total, and less than 300 of these spent more than $50,000 annually. But as of the first quarter of 2024, the company had 58,500 active buyers, with nearly 1,400 spending more than $50,000 annually. That's a lot of traction in a short time for a small platform. And it suggests that the platform is good enough to attract users.

Xometry has less than $500 million in annual revenue in a space valued in the hundreds of billions of dollars -- upside potential is likely if it's true that its platform offers users something better than what they're used to.

The company isn't profitable yet. But it's getting closer to positive cash flow with scale, which is why this is an interesting idea now. Once it's profitable, more investors will likely take notice, giving an advantage to investors today who noticed the improvement beforehand.

XMTR Revenue (TTM) data by YCharts

Driven Brands is a company that uses a roll-up strategy in the automotive space. It operates several different chains, including car washes, mechanic shops, and windshield repair. The idea is that by rolling up a bunch of companies under one parent company, it can benefit from brand recognition and economies of scale.

There are admittedly headwinds for Driven Brands right now. For example, in the first quarter of 2024, its car wash division accounted for 25% of revenue, but revenue in this segment was down about 8% year over year. And management only expects about 4% top-line growth for its business as a whole this year, which isn't very exciting.

Driven Brands has an enterprise value of $5 billion (for the record, this is technically a mid-cap stock, not a small-cap stock). And in 2024, management expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least $535 million. That means the company is valued at just 9 times its profits.

I mentioned enterprise value and EBITDA because these are metrics commonly used for companies with high levels of debt. Driven Brands has $2.9 billion in long-term debt, mostly because of its roll-up strategy. That's a heavy load, but it explains why it's cheap right now: Interest rates are up, lowering investor appetite for companies with debt.

I like Driven Brands because it operates boring businesses that are always in demand. And its strong adjusted profits make me comfortable with its debt. But if interest rates drop, I believe the market will give it more credit than it's giving it now. Economists believe it's increasingly likely that interest rates will drop before the end of 2024, which is why this is an idea to consider right now.

Finally, PubMatic is a programmatic advertising-technology (adtech) company that's as financially secure as any small-cap stock around. For investors worried about the economy, this is a small player that can press on through hard times.

Regarding its financial fortitude, PubMatic has $174 million in cash, equivalents, and short-term investments. The company doesn't have long-term debt and doesn't plan to. Moreover, it generates positive cash flow.

PubMatic is in a good place competitively as well. The company partners with publishers to get ad space sold. There are a lot of small players here. But with PubMatic's supply optimization product, it helps its customers go from many software providers to just two or three, leaving itself in the mix, of course.

Digital advertising is facing a slowdown as consumer spending cools. But this is routine from a macroeconomic perspective. Whether it's next week or next year, spending will rebound, and digital advertising will perk up, to PubMatic's benefit. And thanks to its financial fortitude, it can afford to calmly wait things out until then.

PubMatic's growth rate has accelerated recently, so I think this business will bounce back sooner rather than later. And that's why PubMatic joins Xometry and Driven Brands as smaller, undervalued companies I believe investors should consider buying now, following Druckenmiller's current conviction for small-cap stocks.

Link:
This Billionaire Predicted the Nvidia Stock Rally. Now He's Making a Prediction Elsewhere With an Investment That's Already Jumped 13% in the Last...

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The coolest thing about torrenting site ThePirateBay is that it really does operate like a pirate ship. When one jurisdiction forces it offline, it pops back up under a different domain.

At least in one point in time, ThePirateBay itself didnt own any actual servers. Its operators instead chose to spread the sites functionality across 21 virtual machines hosted around the world by various commercial cloud providers.

If one of the hosts pulled out, those virtual machines could be easily deployed to a different provider. More importantly, though, it meant there were no physical servers for police to seize.

And besides, the virtual server structure meant the actual cloud hosts keeping ThePirateBay online were unaware they were even hosting the torrenting portal further insulating it against police.

Binance has operated under similar mystique. For the longest time, the company had claimed to have no headquarters, something new CEO Richard Teng walked back after taking over from founder and CEO Changpeng Zhao, whos currently serving a four-month prison sentence in California.

Like ThePirateBay, Binance bounced between jurisdictions for years, from China to Japan and Malta, before all three eventually pushed the exchange to mosey on somewhere else. Dubai is currently tipped as the next potential destination to dock, although there hasnt yet been any official announcement.

All this might explain why the SEC was so eager to cut Binance off from its primary stablecoin provider, the New York-headquartered Paxos, by threatening to take it to court to prove that BUSD was an unregistered security.

And that really worked: BUSD was the seventh largest cryptocurrency by market cap, worth $16.1 billion, before the SEC sent its Wells notice to Paxos in February 2023. Paxos stopped minting new tokens and over the next month, BUSD holders redeemed about half the supply. By January this year, there was only $100 million in circulation.

But while the US has seemingly thrown anything that might stick at Binance and Zhao, there appears to have been little impact on Binance user activity.

After collating the exchanges monthly proof of reserves disclosures, its clear that Binance hasnt skipped a beat, at least in terms of user capital on the platform.

Binance disclosed $115 billion in user funds at the start of July, up from $61 billion one year ago, and $45.6 billion when reports first surfaced of a years-long DOJ investigation in December 2022.

Other stablecoins including TrueUSD, USDT and FDUSD plugged the gap left after Paxos wound down BUSD, with the latter two headquartered outside the US. TrueUSD meanwhile fell out of favor, leading to a number of delistings earlier this year.

In any case, as Zhao waits out the rest of his sentence, the makeup of user funds on the platform is morphing, with the data indicating that the general consensus is to hold.

Bitcoin made up 18% of user funds in December 2022 now its over one-third. Similarly, BNB went from 14% to 20%, while ETH has stayed largely unchanged at about 14%, presumably on account of lackluster price growth compared to bitcoin and BNB.

The real tell is that only one-fifth of all user funds on the platform are currently stablecoins $24.4 billion down from more than half before Zhaos troubles really began. That means 80% of Binance user funds are held in non-dollar-pegged crypto assets.

Clearly, users are confident after the SEC and DOJs actions, not only that everything at Binance is above board, but that prices will rise from here.

David Canellis

Paxos is getting off scot-free after the SEC said it wouldnt pursue legal action against the company.

Lets back up for a second. The SEC issued Paxos a Wells notice last February. This came, obviously, before the SECs case against Binance in June.

I mention this because the SEC, in its complaint against Binance, alleged that BUSD was a security.

Thereve been some interesting developments in that case as well.

Last month, Judge Amy Berman Jackson the judge overseeing the Binance case ruled against a motion to dismiss filed by Binance and its US entities. However, there were a few curveballs hidden in her ruling.

Jackson wrote that the SEC didnt plausibly allege that BUSD was offered and sold as an investment contract.

The SEC makes the vague assertion that Binance used at least a portion of those returns to enable and promote the Binance ecosystem, which it says gave BUSD its potential profit, but it does not explicitly link the value of the token which was tied to the US dollar to the success of the platform, she said.

The SEC, at the hearing on the motion to dismiss, also tried to argue that it wasnt claiming BUSD by itself was a security but rather that it was sold as a package that promoted a profit-making program.

Judge Jackson, in denying the charge regarding BUSD sales, clearly decided that there wasnt enough to support the claims.

Unfortunately, the BUSD of it all is a bit of a moot point, given that Paxos quickly shut down its Binance partnership and stopped issuing the stablecoin in late February of last year.

But theres no doubt the SEC dropping the investigation is a win for Paxos.

Paxos Trust Company has always maintained that its USD-backed stablecoins are not securities under federal securities laws and that the Wells Notice was unwarranted and unjustified, the company said in a statement.

Does this mean that the SEC is potentially abandoning the ability to label stablecoins as a security?

The SECs decision to not bring an enforcement action against Paxos signals that it may consider that USD-backed stablecoins are not securities. If the question of whether stablecoins are securities is definitively answered, the SEC would provide a necessary degree of regulatory certainty to this asset class, said David Oliwenstein, partner at Pillsbury Law.

But others say its still unclear. Right now, theres too little information to read deep into that scenario confidently.

The declination letter is a significant victory for Paxos and what should be viewed as encouraging to the industry, even though it doesnt establish with any certainty that any specific type of stablecoin is or is not a security, Andrew Hinkes, partner at K&L Gates, said.

If you wanted to look on the positive side, then one might even think the SEC was somehow being thoughtful in its approach to regulating the industry. Or maybe its just acknowledging that BUSD is DOA at this point.

Either way, its Friday.

Katherine Ross

Taking a page from the Gensler playbook?

That was the impression I couldnt quite shake whilst following Rostin Behnams testimony yesterday before Congress.

According to Fox Business Eleanor Terrett, the CFTC chief reportedly said that 70-to-80% of the crypto market comprises non-securities. A bold statement, and suggestive of the idea that theyre commodities instead and thus under the agencys purview. Behnam might also be signaling that the CFTC is basing this reasoning on market capitalization, with BTC and ETH comprising the bulk of the pie.

Sound familiar? That kind of expansive terrain-charting is reminiscent of Genslers frequent citation that most of the crypto market consists of, well, securities a declaration that would make it largely the SECs beat instead.

Its certainly curious of Behnam to make such statements, especially as if some Congress has its way the two agencies will be required to join forces in some areas on crypto oversight.

Perhaps the jockeying for position, and money, has already begun.

Michael McSweeney

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Empire Newsletter: What the SEC dropping its Paxos probe really means - Blockworks

Last updated: June 29, 2024, 12:00 EDT | 2 min read

A United States court has ruled against cryptocurrency exchange Binances attempt to dismiss the majority of claims leveled against it by the countrys securities regulator, the Securities and Exchange Commission (SEC).

According to the court filing by Judge Amy Berman Jackson on June 28, claims related to Binances staking program, the sale of BNB tokens following its initial coin offering, and anti-fraud violations will proceed.

The court also upheld the SECs contention that former Binance CEO Changpeng CZ Zhao acted as a control person and that Binance was obligated to register under the Exchange Act.

However, the ruling wasnt a complete victory for the SEC.

Judge Jackson decided to dismiss claims relating to BNB secondary market sales and all sales associated with the Binance USD (BUSD) stablecoin.

In her decision, she referred to Judge Analisa Torres ruling in the SECs case against Ripple as supporting grounds for dismissing the SECs claim regarding BNB secondary market sales.

The courts decision came as a surprise to finance lawyer Scott Johnsson, who described it as a significant setback for the securities regulator.

Fox Business reporter Eleanor Terrett anticipates that lawyers representing Coinbase, Kraken, and Consensys will leverage this opinion to strengthen their positions in their respective litigations.

Judge Jackson also rejected the SECs claims concerning Binances passive income feature, Simple Earn.

A court hearing has been scheduled for July 9 to further address the matter.

The SEC, led by Gary Gensler, filed the lawsuit against Binance in June 2023, alleging that the exchange had offered the sale of unregistered securities and operated illegally within the United States.

Binance and CZ responded by filing a motion to dismiss the lawsuit approximately three months later, arguing that the SEC had exceeded its legal authority.

In addition to the lawsuit, Binance has faced challenges on the regulatory front.

Seven US states, including Alaska, Florida, Maine, and North Carolina, have either revoked or denied Binance the right to renew its money transmitter license.

Furthermore, CZ is currently serving a four-month prison sentence for violating money laundering laws.

Despite these legal hurdles, Binance continues to hold its position as the worlds largest cryptocurrency exchange, boasting over 200 million users and managing assets totaling $100 billion.

Just two years ago, in 2022, Binance reported a user base of around 130 million.

By 2023, the exchange had added 40 million more users, bringing the total count to 170 million.

Impressively, in the first half of 2024 alone, Binance has already added at least 30 million new users.

In May, the Financial Intelligence Unit of India (FIU-IND) revealed that Binance has successfully registered with the regulatory body, returning to the country after some regulatory hurdles.

Prior to that, the exchange announced that it had obtained a license from Dubais regulator, VARA, enabling the platform to cater to retail clients along with qualified and institutional ones.

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US Judge Allows Major Portion of SEC Lawsuit Against Binance and CZ to Proceed - Cryptonews