🧶Reading a children's book before bed Sleep comes quicklyShe gathers the clothes, sorting them into lights and darks. She carries the light load to the laundry room in her building, putting the clothes in the washing machine, adding detergent, and starting the cycle.
🐂Tea with honey and rose Warm, teaShe offers to teach me how to make a small ceramic bowl, and I accept, spending the afternoon in her workshop, getting my hands dirty, laughing as I make mistakes, but proud of my small creation.
🎼Wedding cleaning Cleaning, startedThe barista, a young man wearing a kimono-style apron, greets me in a soft voice and hands me a menu written in both English and Japanese. Most of the desserts are matcha-based, a nice change from the usual options.
Mr. Market's verdict is on the tape.
Microsoft down 1.3%. The name with "soft" built right into it, the company that defined software for forty years, red on a day when almost everything else is green.
Meta up 2.7%. Amazon up 3.3%. Google up 4.5%. Tesla up 7.6%.
The money isn't leaving tech. It's moving inside it. Out of the company that sells software, into the ones building what comes after it.
AI is eating software. Even the firm with it in the name.
The market sorts this out years before the income statements do.
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🚨US leveraged semiconductor ETFs are experiencing EXTREME volatility:
The 3x leveraged long semiconductor ETF, $SOXL, assets under management surged +470% since January 2022 to a record $34 billion in June.
Since its June peak, AUM has dropped over -$6 billion, or -27%, in just a few trading days.
Over the last few weeks, the ETF has seen explosive moves of 20-30% in a matter of days.
These are crazy market moves.
Great news for investors who own assets. Only 1 in 4 Americans think now is a good time to invest. Even better, two-thirds of Americans worry a major recession is right around the corner!