Jan 30, 2026

Email 1 Summary:

Joseph Politano and Andrew Lokenauth have posted recent notes on various financial topics. Highlights include GDP growth data by state, thoughts on taking days off from work, and an analysis of the US dollar’s purchasing power since 1950. These notes are accessible through the Substack app.

Email 2 Summary:

Gold prices have surged, surpassing Goldman Sachs’ forecast set just last week, with a JPMorgan analyst projecting a target of $8,000 to $8,500 if household allocations increase. The precious metals market rally is driven by retail investors, with new futures available on Coinbase. However, there is a near-term risk of profit taking. The report also includes key market performance data and recent earnings updates from major tech companies.

Email 3 Summary:

The newsletter discusses a contraction in vaccine venture investment due to changes in U.S. vaccination policy, hinting at potential impacts on valuations for vaccine and clinical trial companies. It highlights various significant venture capital, private equity, and public offerings activity in sectors including AI, cybersecurity, healthcare, and fintech. The newsletter also gives insight into new funding rounds, acquisitions, and IPOs, as well as personnel shifts in the finance industry.

Email 4 Summary:

An explanation of two types of trade finance: accounts receivable financing (“factoring”) and accounts payable financing (“reverse factoring” or “supply chain finance”), including how each can lead to fraud. The collapse and fraud allegations concerning First Brands, a car-parts company involved in double-pledging invoices and round-trip payments, are detailed. The newsletter also explores theories on AI catastrophe bonds for insuring against AI disasters, retail investor interest in SpaceX IPO shares at premiums over institutional prices, the increasingly early and intense recruitment process for finance careers, and miscellaneous financial news and cultural notes.

Stay Well!