Finance Knuggets

Jun 08, 2024

I recently learned about a new book titled “Girt By Sea: Re-Imagining Australia’s Security” which focuses on reimagining Australia’s security and its engagement with key regions like Southeast Asia. The book provides a comprehensive analysis of Australia’s Indo-Pacific security outlook and highlights opportunities with subregions such as Southeast Asia. It also offers specific recommendations across priority theaters.

In other news, legal experts shared seven items to exclude from one’s will when estate planning, and a digital asset strategist explained how including a small amount of cryptocurrency in a conservative investment strategy can lower the overall risk in a portfolio. Lululemon stock is also higher after the retailer disclosed higher-than-expected fiscal Q1 results and raised its stock buyback plan.

I also learned that artificial intelligence is significantly impacting the venture capital market, with AI companies raising $12.4 billion in May, representing 40% of the global total. This shift represents a significant trend in the tech industry, with AI startups becoming a sure bet in terms of where tech innovation is heading. Finally, Michael Lynch, co-founder of Autonomy, was found not guilty of defrauding Hewlett-Packard during the $11.7 billion sale of Autonomy, marking Silicon Valley’s largest financial fraud case ever in terms of alleged dollars lost.

Additionally, there were several significant fundraising and liquidity events in the financial world this week. Highlights include Waystar, a health care revenue management software firm, raising $968m in its IPO, and New Ruipeng Pet Group, a chain of around 1,900 veterinary hospitals in China, withdrawing plans to go public on the Nasdaq. On the economic front, the U.S. economy added 272k jobs in May, surpassing expectations, while the unemployment rate ticked higher to 4%. Hourly wages were up 0.4% month-over-month and 4.1% year-over-year. Fed officials are expected to hold interest rates at a two-decade high at their policy meeting next week, as they wait for more evidence that price pressures are easing.

Stay Well!