Justin Lee

@cgwm_ca advisor, ex-oil sands. Alberta born and bred, but my investments aren't. “Six feet from his head to his heels was all he needed.”

[Nick Maggiulli @dollarsanddata]

A year in your 20s occupies ~5x more of your perceived life than a year in your 60s.

Therefore, a dollar you spend in your 20s has about 5x more experiential value than a dollar you spend in your 60s.

[Meb Faber @MebFaber]

Cap weight vs equal weight

Savita at @BankofAmerica

[Cranky Federalist @CrankyFed]

FIFA really thought they could beat a New York City real estate developer at corruption

[Justin Lee @CGWM_Justin]

How do you manage capital allocation in such a situation?

[Jukan @jukan05]

Korean media reported that Kim Yong-kwan, President and Head of Business Strategy at Samsung Electronics’ Device Solutions division, said during a DS division management town hall meeting on July 3 that this year’s operating profit is expected to be in line with market consensus.

Korean brokerages estimate Samsung’s operating profit this year at around KRW 300 trillion, or roughly USD 200 billion.

In particular, Kim reportedly said, “This year’s profit alone will exceed the cumulative profit generated over the 40 years since Samsung entered the semiconductor business.”

[Justin Lee @CGWM_Justin]

🤯

[Negligible Capital @negligible_cap]

Half of Citadel’s retail options volume now trades in 0DTE contracts - up from 30% in 2025 and just 13% in 2021

[Hanif Bayat @HanifBayat]

My piece today at @globeandmail
We have two retirement ages: the one Canada set and the one Canadians use

📌 Set at 70 in 1927, lowered to 65 in 1965. Hasn't moved since.

📈 Life expectancy: 72 in 1965, 82 today. A 10-year gap.

💰 OAS now costs ~$80B/year, 15% of the federal budget.

⏳ The "unofficial" retirement age looks closer to 67-68.

📊 Labour participation among 65-69 year-olds tripled since 2000: 10% to 30%.

💸Delaying pays: CPP +8.4%/yr after 65, OAS +7.2%/yr to age 70.

The official number says 65. The real one says otherwise.

Full piece: https://t.co/AsblIFxyQa

-------------------------
Provided by https://t.co/dFdSm9SSuR
Simply Know Your Options 🔍

[Lisa Abramowicz @lisaabramowicz1]

Microsoft shares are poised for their worst monthly loss since 2008, having plunged nearly 19% so far in June. Oracle is down 30%, Meta down 12%, Google down 8%. And yet the S&P 500 equal weight index is up 1% on the month.

[Engineer Investor @egr_investor]

A solid reminder that an index fund is not a financial plan.

[Wall St Engine @wallstengine]

South Korea’s top financial regulator says he regrets not blocking single-stock leveraged ETFs tracking Samsung and SK Hynix.

The 16 ETFs have grown from $3B at launch in late May to $9.1B, with retail investors holding about 92%.

Officials are now weighing stabilization steps as volatility rises.

Goldman estimates a 5% swing in Korean stocks could trigger $4.7B of option-dealer rebalancing flows, equal to about one-eighth of normal daily share turnover.

[The Kobeissi Letter @KobeissiLetter]

Retail investors are piling in to SpaceX stock:

Over the last 2 trading sessions, retail investors bought nearly as much SpaceX, $SPCX, as every other US single stock combined in the entire prior week, according to Vanda Research data.

On Monday alone, retail purchased +$93.8 million of $SPCX shares, accounting for ~73% of all retail single-stock purchases during the day.

In the first 10 minutes of Monday’s session, retail investor turnover in the stock exceeded $7 million.

Individual investors also bought some semiconductor stocks such as Marvell $MRVL, Micron $MU, SanDisk $SNDK, and Broadcom $AVGO.

Retail appetite for risk shows no signs of slowing.

[Derek Thompson @DKThomp]

oh ok

[Justin Lee @CGWM_Justin]

That was as riveting a goalless match as you will ever see.

[Virgil @VirgilsQuill]

I love that we’re the new Rome. Peace with Persia in the afternoon and a gladiator fight in the evening, all on the Emperor’s birthday. Another 1,000 years.

[Justin Lee @CGWM_Justin]

Big IPO of a market leader that I'm interested in. History includes a larger than life Canadian billionaire founder, conspiracy theories, scandals, lawsuits, and unresolved investigations. Not the one with rockets, the one with generic pills.

[Justin Lee @CGWM_Justin]

@inthemoneypod Yahoo! Same guest as last year?

[Justin Lee @CGWM_Justin]

@CGWM_Muhs KOSPI and chill 😂

[Ben Carlson @awealthofcs]

South Korea has now outperformed the S&P 500 over the past 10 years

All of the outperformance has come in the past year

Nuts

[Citrini @citrini]

I really have to get better at buying whatever the President of the United States says to buy.

[Justin Lee @CGWM_Justin]

Listening to Avalanche radio post game and you could replace the team name with Oilers and you’d be hearing similar themes and complaints. Also, prediction markets are now advertising directly to young men, talking smack about online sports books. 🙄