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An Antidote for 'Crisis Spending'

Jun 11, 2024 | Stansberry Digest | Corey McLaughlin

Apple to the rescue... Fed decision and inflation report coming tomorrow... The
brutal scale of government spending... A map for navigating 'fiscal
dominance'... The case for bitcoin... The next 'mega catalyst' for cryptos...

--------------------------------------------------------------------------------


FIRST, HERE ARE THE NUTS AND BOLTS OF THE DAY...

The major U.S. stock indexes were mixed today.

The benchmark S&P 500 and tech-heavy Nasdaq were up slightly, the latter buoyed
by a 7% jump in Apple (AAPL) shares. Investors loved the company's announcement
of AI initiatives (dubbed "Apple Intelligence") at its annual developers
conference in Silicon Valley.

The bullish case is that Apple's new planned AI tools, like an overhauled Siri,
writing assistance, and ChatGPT integration, could motivate people to buy
upgraded iPhones and create a new buying cycle and growth for Apple.

Meanwhile, the small-cap Russell 2000 Index again led things lower, off by
almost 1%, and volume was generally relatively low again.

Remember, though, that we're on the eve of what should be an active day in the
markets...

Another inflation report, May's consumer price index ("CPI"), drops tomorrow
morning... And the latest Federal Reserve policy decision and press conference
from Jerome Powell press conference will be tomorrow afternoon. Powell and the
Fed typically move markets one way or another.

We don't expect the Fed to change its benchmark lending rates tomorrow. But this
is one of its meetings where it publishes its quarterly economic projections,
which should cause some form of debate about what might come next for monetary
policy.

We'll have a report in tomorrow evening's edition.


IN THE MEANTIME, LET'S LOOK AT THE BIGGER PICTURE...

I (Corey McLaughlin) want to revisit the topic of "fiscal dominance." Simply
put, as the days go on, I see this idea driving what's happening in the economy
and markets more and more.

Not enough people are discussing this concept... But it's what I would want to
know if our roles were reversed, one of our guiding principles at Stansberry
Research.

So, as I wrote in the May 14 Digest, which highlighted the recent Stansberry
Investor Hour interview that Dan Ferris and I held with macroeconomic analyst
Lyn Alden...

> The term "fiscal dominance" is finance-speak for when a government spends so
> much money – or lends it into existence – that it reduces the effect of
> "tighter" monetary policy on inflation.
> 
> As Lyn said, "The fiscal side becomes more important on the economy than the
> monetary side."
> 
> This scenario may sound familiar, as it has increasingly been happening in the
> U.S., which is running a multitrillion annual deficit as we speak.

In a report published yesterday, the Congressional Budget Office ("CBO") – which
attempts to educate and inform members of Congress – said the federal government
has borrowed roughly $1.2 trillion over the past eight months. According to The
Hill...

> The nonpartisan budget scorekeeper said the figure is $38 billion above the
> federal budget deficit recorded during the same period in fiscal 2023.
> 
> Total outlays were up 8 percent in the past eight months, reaching $4.5
> trillion, as the CBO noted a 42 percent increase in net outlays for interest
> on the public debt. The percentage represents an estimated $185 billion
> increase over the same period in fiscal 2023; the office pointed to rising
> interest rates as a key contributor.
> 
> Spending for programs like Social Security, Medicare and Medicaid jumped 6
> percent on net during the same time frame, amounting to a $117 billion
> increase, the CBO estimated.

The news also includes a silver lining for Uncle Sam, though not for "We the
People"... Tax revenues are also up, with "total receipts" up by an estimated
10% in the past eight months and more than $290 billion from the same period in
fiscal 2023. In other words, the U.S. sees more spending, more inflation, more
taxes, and inevitably more waste.

On it goes.


WHAT'S GOING ON HERE?...

Every time the government creates a new dollar (or a trillion), it devalues
every existing dollar... which leads to more inflation... and more of the same
problems in various walks of life you've likely become familiar with over the
years.

This has been going on for decades, but right now, the scale is notable,
shocking, and still somehow underreported. Check out this post from The Kobeissi
Letter on social media platform X, which our founder Porter Stansberry shared
today...

The facts about how much the government is spending today compared with actual
production, and in the context of nearly all of U.S. history, are brutal and
reminiscent of other major "crisis" eras...



The trend: debasing the currency to "fix" the present by spending more dollars
and causing more problems (and inflation) in the future.

Today, government spending as a percent of GDP is at a level only seen during
World War II, the great financial crisis, and the onset of the COVID-19
pandemic. Plus, as we noted last month, debt as a percentage of GDP is around
120%, a level also last seen shortly after World War II...



And the U.S. government hasn't finished a year with a surplus since 2001, with
the annual deficit trending higher since then...




ALL INVESTORS NEED TO BE AWARE OF THIS ENVIRONMENT...

The government knows only one solution to problems: spend more money, and create
it if it doesn't already exist. This has consequences that many might not
expect. As I wrote last month...

> The last few decades, the pace of inflation wasn't an outsized issue, or at
> least a widely Fed-recognized problem. Bank lending rates were generally
> trending lower or low, near zero in some cases. But prices for all kinds of
> things were certainly getting higher along the way.
> 
> The difference today is that with high(er) inflation out of the bag after the
> trillions of dollars of government stimulus during the pandemic, the
> government-spending part of the equation is more obvious. Prices are higher
> and rising, and the cost of borrowing is higher.
> 
> So what worked in the last few decades – like the conventional 60-40
> stock-bond portfolio, which benefited from an environment of interest rates
> that were steadily falling over the long run – isn't the best recipe now...

So what is?


ONE MAP FOR NAVIGATING 'FISCAL DOMINANCE'...

If this scope of government spending continues, it's wise to expect high(er)
inflation and higher interest rates for the longer run, even with the Fed
signaling that minor cuts might be coming this year...

In this case, you'll want to own stocks – specifically of high-quality
businesses that will reward shareholders no matter what comes next – and only
buy them when they're fairly priced. That will ensure you get the most value
from your dollars since the value of those dollars is, unfortunately, likely to
erode over time...

Remember, stocks are inflation protection.

In one way or another, our editors and analysts are constantly working toward
identifying the best buying opportunities.

As Lyn suggested during our conversation on the Stansberry Investor Hour, having
exposure to the energy sector, precious metals, and other "hard" assets is
wise... as is looking at companies with solid balance sheets that locked in debt
at low rates.

She's also a proponent of bitcoin as an alternative to this fiat mess – as are
we.


RESULTS MATTER...

Remember, bitcoin started from nothing in the wake of the great financial
crisis, as a response to the frustration about big banks being bailed out while
many "regular" people dealt with losing jobs and the implosion of real estate...

This cryptocurrency was launched in January 2009 by the pseudonymous inventor
Satoshi Nakamoto as a "peer to peer" electronic cash-transfer system with no
middleman. Baked into its code is a fixed supply and "halvings" every four years
designed to slow its inflation rate via the rewards given to bitcoin "miners."

Since then, demand has steadily grown and grown for this asset, whether people
realize it's in large part because of out-of-control government spending or
overreach or not. While the value of the dollar (and other global currencies
managed by central banks) keeps falling, bitcoin's value per dollar has
skyrocketed from a tenth of a penny per BTC to today's level of around $67,000.

We're not telling you to ditch stocks completely for bitcoin. But the world's
most popular cryptocurrency and other cryptos also have a place in a portfolio
that can protect and grow wealth over the long term.


EVEN SOME PENSION FUNDS AGREE...

As you know, earlier this year, the U.S. Securities and Exchange Commission
green-lit the launch of spot bitcoin exchange-traded funds ("ETFs"). Billions of
dollars have flowed into these funds, and the firms that run them hold actual
bitcoin as part of their regulatory requirements.

The State of Wisconsin Investment Board, which runs one of the better-regarded
pension funds in the country, bought more than $160 million worth of shares in a
pair of spot bitcoin ETFs from BlackRock and Grayscale in the first quarter...

Our Crypto Capital editor Eric Wade mentioned this in his new free
presentation...

> They're doing it because, like a lot of other big institutions, they're waking
> up to the fact that the profit upside of bitcoin... not to mention dozens of
> other cryptos... just can't be beat by any other investable asset.

This is an expression of Eric's thesis of the spot bitcoin ETF launch earlier
this year being the first "mega catalyst" of 2024 for bitcoin and cryptos in
general. He talked about this in an emergency briefing back in January. As Eric
says...

> This may have been the biggest step towards mainstream adoption we've ever
> seen.
> 
> I don't think there's any way you can look at tens of billions of
> institutional dollars moving that quickly into bitcoin and make any other
> conclusion.
> 
> And it's only just getting started. The success of these ETFs here in the U.S.
> have started a global storm.

As Eric noted in a weekly video update to his paid Crypto Capital subscribers on
Friday, bitcoin ETFs and other funds are available now on nearly every
continent.

Then came the bitcoin "halving" in April – the fourth such event in the
cryptocurrency's relatively brief history – ahead of which bitcoin's price rose
to a new all-time high above $70,000. And now the real fun can start...


THE NEXT 'MEGA CATALYST' FOR CRYPTOS...

As Eric talks about in his new presentation, bitcoin's price has fallen since
its rise to an all-time high ahead of its latest "halving"... But this is
normal, Eric says. And if anything, it suggests higher highs to come...

> Everyone who's freaking out about bitcoin dropping from its all-time high of
> over $75,000 down to the low $60,000's just hasn't done their homework...
> 
> 
> 
> As you can see, each of the previous three halvings served as a launching
> point for bitcoin's next bull run. It's plain as day here for you to see.
> 
> But those big run-ups didn't just kick off immediately. Look closely and
> you'll see that's not the case. Each time it's taken at least a year for
> bitcoin to hit its new all-time high.

And Eric fully expects this behavior to play out again... He says bitcoin will
hit another new all-time high this year... with the catalyst being a "super
convergence" of two of the most significant technologies in the world today.

This convergence is increasing demand for bitcoin and many other lesser-known
cryptos (with 10x or more profit potential) at the same time that demand for
alternatives to "real world" currencies is increasing.

What Eric's talking about is that crypto is the "only real solution for how to
establish and maintain" the type of fast-paced commerce that the world is now
seeing online every single moment of every day.

As he says, "you can't rely on the big, slow financial institutions to have the
technology infrastructure... the level of security... and the willingness to cut
through red tape safely"... to complete the type of transactions that the market
demands today.

I'll add that you also can't rely on governments to spend less money anytime
soon. Put it all together, and demand (and prices) for bitcoin will keep
growing... while the value of things denominated in dollars falls. The same will
also apply to the lesser-known cryptos that Eric is an expert in.

As I wrote yesterday, the "super convergence" part of this argument isn't even a
"prediction." It's playing out right now. It's just that most people don't
understand the scope of it...

> If things play out as Eric expects, prices of the headline cryptocurrencies
> and many other lesser-known cryptos that he recommends could soar to even
> greater highs by the end of the year.
> 
> And that's saying something... considering that since Eric's initial emergency
> briefing in January, he has already closed out six recommendations for
> triple-digit gains, plus his 14th 1,000%-plus winner since 2020.

This convergence is setting up a rare "10x profit window" ahead of what could be
a massive bull run for cryptos, Eric says.

In his free presentation, he shares more details, including how to access his
three favorite crypto recommendations right now – all of which he says have 10x
to 20x profit potential – along with his entire Crypto Capital model portfolio
and a host of special reports.

Click here to watch now. (And Crypto Capital subscribers and Stansberry Alliance
members, feel free to check out the free presentation, though you can find all
of the research that Eric is talking about here.)

New 52-week highs (as of 6/10/24): Applied Materials (AMAT), Costco Wholesale
(COST), HealthEquity (HQY), Intuitive Surgical (ISRG), Nuveen Preferred & Income
Opportunities Fund (JPC), Eli Lilly (LLY), Motorola Solutions (MSI), Micron
Technology (MU), Nuveen California Quality Municipal Income Fund (NAC),
Neuberger Berman Next Generation Connectivity Fund (NBXG), Novo Nordisk (NVO),
ProShares Ultra QQQ (QLD), RadNet (RDNT), VanEck Semiconductor Fund (SMH),
ProShares Ultra S&P 500 (SSO), Texas Pacific Land (TPL), and Vanguard S&P 500
Fund (VOO).

In today's mailbag, another recommendation about a story on a maritime disaster,
stemming from Dan's Friday Digest... Do you have a comment or question? As
always, e-mail us at feedback@stansberryresearch.com.

"Into the Raging Sea by Rachel Slade." – Subscriber Jerry G.

All the best,

Corey McLaughlin
Baltimore, Maryland
June 11, 2024



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LATEST ARTICLES

--------------------------------------------------------------------------------

The 'Energy Supercycle' Will Transform Cryptos

Jun 12, 2024

Editor's note: Today's AI and cryptocurrency booms are consuming more power than
ever... And it's only set to ramp up in the future. According to our colleague,
crypto expert Eric Wade, this could eventually lead to an energy-supply crunch.
But as he explains in this piece – adapted from a recent issue of Crypto Capital
– one unique opportunity in the crypto space could also help solve this
problem... Most of us take energy for granted... We use it every day. And as a
result, we like to think we understand how the energy market works. For example,
gas prices tend to go up in the summer and down in the winter because more
people travel during warmer months. And natural gas prices often rise in the
winter as heating needs increase. These patterns are predictable... which
creates a false sense of security. But a sudden shift in supply and demand could
create a lot of volatility. Global energy consumption has skyrocketed over the
past year. And it's expected to increase even more in the years ahead... which
could push energy prices higher than we've ever seen before. We're about to see
an "energy supercycle." When it begins, companies will have to compete for
resources much more aggressively. And recently, one sector has already caused an
explosion in energy demand... You might think I'm talking about crypto mining –
but I'm not. True, bitcoin (BTC) is well known for using enormous amounts of
energy. Millions of computers make quintillions of calculations to secure the
network... all of which require power. In 2023, bitcoin used around the same
amount of energy as the Netherlands. That's because bitcoin is a Proof-of-Work
("PoW") coin. Miners have to prove they did an extraordinary amount of work to
earn a reward. It's one way to show transactions are authentic. Proof-of-Stake
blockchains, on the other hand, don't require much energy to validate
transactions and secure the chain. This is why bitcoin miners have become a
target for environmentalists who claim that PoW is wasteful. But the crypto
space still isn't the sector with the fastest-growing demand for energy. That
crown goes to artificial intelligence ("AI"). Regular DailyWealth readers know I
expect AI to become a huge part of our everyday lives. We're already seeing more
individuals, companies, and governments use AI (and crypto) to help run their
systems, process transactions, store records, and plan major decisions. The
potential uses are unlimited. That's why I think AI is going to be a big
catalyst for cryptos going forward... For example, by using AI and the
blockchain, doctors can quickly comb through patient records to come back with a
personalized treatment plan. They can consider hundreds – maybe even thousands –
of past cases to predict the best chance of a successful treatment. Meanwhile,
companies like Merrill Lynch and Vanguard are using AI and the blockchain to run
their clients' portfolios through hundreds of financial scenarios to test how
well they'll hold up between now and the time their clients retire. In short,
companies all over the world are finding ways to use these technologies. But AI
requires an incredible amount of energy – even more than most cryptos. It has
already been straining power grids in the U.S... Just look at northern
Virginia's "Data Center Alley" for proof. Virginia-based Dominion Energy had to
halt connections to new data centers for around three months in 2022 due to
increased demand from AI. And AES, another Virginia-based energy company,
recently told investors that because of AI's growth, data centers could make up
7.5% of total U.S. energy consumption in the coming years. It's the same picture
worldwide... The International Energy Agency projects global electricity demand
to rise by nearly 25% by 2040, largely driven by AI and data centers. Meanwhile,
supply is struggling to keep up. The supply of energy from fossil fuels is
expected to peak before 2030. And renewable-energy sources aren't being
developed fast enough to meet users' needs. This is a new imbalance of supply
and demand. And it could push energy prices to levels we've never seen before.
Cryptos, AI companies, manufacturing firms, electric-car companies, individual
users, and payment-processing companies will all be competing for energy in the
years ahead... As demand overtakes supply, companies may limit user
transactions, prioritize critical operations over others, and have to implement
shutdowns. This could lead to slower processing times, higher prices, and
restricted access to services for customers. Eventually, the world won't have
enough energy to go around... so investing in energy-efficient technologies will
be essential. This is a problem that will need to be solved – and soon.
Thankfully, crypto has a solution. My latest Crypto Capital recommendation is a
blockchain that's designed to thrive no matter what happens in the energy
market. It aims to use low amounts of energy while remaining decentralized,
fast, cheap, secure, and scalable. I can't discuss all the details here in
fairness to my subscribers. But as energy prices continue to rise, more folks
will turn to this blockchain for help. The energy market just got a lot more
complicated. That's going to create major challenges during the coming energy
supercycle... and big upside potential, too. Good investing, Eric Wade Editor's
note: Eric believes three major catalysts are at work today in the crypto
sector. And as he recently explained in a sit-down conversation, it could lead
to one of the biggest profit opportunities we'll ever see in our lifetimes.
Investors who position themselves now could see 10X, 20X, or even 50X gains...
Click here to learn more. Further Reading Cryptos might look intimidating at
first glance. But "doing your homework" is just another part of investing. Not
only that, but crypto's reputation as a "complicated" technology is partly why
it offers the potential for life-changing gains... Read more here.  Most folks
think of bitcoin first when they hear about cryptos. But it's not the only
crypto you should be watching right now. In fact, momentum is building behind
another corner of this market that could see explosive gains... Learn more here.

Keep reading...

How a Famine in Cuba Led to Food Innovation

Jun 11, 2024

From Cuba's "Special Period" came a really special kind of steak... For decades
in the last century, this island country and the Soviet Union were buddies. Cuba
heavily relied on the Soviet government... to the point that roughly 20% of the
island country's gross national product between 1986 and 1990 was courtesy of
Soviet subsidies. But in December 1991, the economic aid and trading came to a
screeching halt when the Soviet Union collapsed... thrusting Cuba into nearly a
decade of economic crisis. It was called the "Special Period." Without fossil
fuels from the Soviet Union, Cuban industries declined across the board...
including agriculture. Extreme food shortages caused a famine. Adults even lost
up to a quarter of their body weight. The dairy and meat industries suffered
horribly since the production equipment had no juice to run on. So Cubans who
had a hankering for meat had to get creative... for example, by making
grapefruit "steak." Bistec de Toronja was supposedly born because of the Special
Period. This dish only uses the grapefruit's pith – the tough, gummy, white
layer below the peel. It's the bitter-tasting stuff that you desperately try to
avoid scooping up with bits of the sweet and sour pink pulp in your morning
snack. But, in the depths of a food crisis, Cubans were resourceful and
repurposed the pith into their version of a country-fried steak. They would cut
chunks of the pith (with pulp and peel removed )... boil the cutlets until they
turned light pink to remove some of the bitter taste... dip them in batter...
pan fry... and, voila, steak. Grapefruit pith is, indeed, edible. It's a great
source of soluble dietary fiber like pectin. And we know eating lots of soluble
fiber is great for controlling your blood sugar and lowering your "bad"
cholesterol numbers. (Retirement Millionaire subscribers might recall that I
recently explained how the real enemy of your heart isn't cholesterol... it's
something else. And cholesterol is just one of the actors in its sinister play.
You can subscribe here to read last month's issue.) Well, according to a January
2024 study, the soluble fiber in a grapefruit pith happens to have a prebiotic
that's food for the "good" bacteria, or probiotics, in our gut. Researchers ran
in vitro studies and found that the prebiotic compound led to an increase in
production of short-chain fatty acids, or SCFAs. SCFAs are important little
molecules that have a huge number of benefits like helping your immune system
function, regulating your blood pressure, keeping your gut-wall cells strong,
and more. The pith isn't the only beneficial part of a citrus fruit. An April
2024 study found that orange peels contain a compound that could protect your
ticker... University of Florida researchers studied orange-peel extract and
found a compound called feruloylputrescine. Some gut bacteria give off a
compound called trimethylamine N-oxide ("TMAO") which scientists think could
lead to cardiovascular disease. But with this study, researchers found that the
feruloylputrescine in the peel could basically limit the production of TMAO. The
citrus peel we usually toss out also comes packed with other healthy properties
like vitamin C (even more than the pulp), free-radical-fighting antioxidants,
and fiber. Sure, you might occasionally grate some of it onto a dish if a recipe
calls for it and then chuck the remainder out. Next time, grate the whole uncut
(and hopefully washed) orange peel. On a baking sheet or big plate, form little
mounds of the zest. Freeze... and you've got ready-to-use dollops of zest to add
a punch of flavor – and phytonutrients. And the best part is, it lasts for
months. I love using it whenever I want to add a touch of brightness and flavor
to my marinade. Try it with lemons, limes, and grapefruits. And the next time
you're enjoying a halved grapefruit, don't be afraid to dig in a little deeper
with your spoon. (Or try making your own pith steak!) What We're Reading (and
Watching)... Grapefruit steak in all of its crispy glory. Something different:
How to make sure the dead... stay dead. Here's to our health, wealth, and a
great retirement, Dr. David Eifrig and the Health & Wealth Bulletin Research
TeamJune 11, 2024

Keep reading...

Episode 365: A New Government Act Could Disrupt the Biotech Industry

Jun 10, 2024

On this week's Stansberry Investor Hour, Dan and Corey welcome their colleague
John Engel to the podcast. John is the lead equity analyst on the Stansberry
Innovations Report newsletter, where he finds companies that are revolutionizing
their respective industries with cutting-edge technology. He also works on
Prosperity Investor, a newsletter that focuses on opportunities in the health
care sector. John kicks off the show by detailing the new Biosecure Act that's
currently moving through Congress. Its purpose is to limit China's access to
U.S. biological information. As he explains, this legislation is going to
disrupt the industry, hurt biotech companies, and possibly even bankrupt the
smaller players. But, conversely, it's going to allow other contract development
and management organizations to replace Chinese ones, creating massive
opportunities for investors. John also shares how he got his start in the
biotech field at a fermentation lab and as a molecular biologist before shifting
to the world of finance... I think there's a lot of parallels to be drawn
between finance and biotech. Finance is a language. If you speak finance... you
can use that to your advantage whether you're studying oil and gas companies or
whether you're studying biotech companies. And science is similar. So if you
practice science, you can use it to study cancer drugs. You can use it to study
cardiology. There's no end to the uses. Next, John talks about the pandemic,
vaccines, and the current bear market in biotech. He mentions one big story in
biotech that he believes isn't getting enough attention – bispecific antibodies.
This development allows one drug to hit two targets, so patients no longer have
to receive two different drugs for treatment. This leads to a conversation about
gene editing, personalized medicine, and rare diseases. As John explains... In
biotech and biopharma, a lot of the low-hanging fruit has been picked. And one
of the spaces that's growing a little bit more than others is rare disease – so,
treating rare diseases. It's really difficult because of the economics, right?
You need a certain population of people to treat for a biotech or a biopharma to
go after that disease, for instance. But there are government subsidies that are
being divvied out to help drive progress. Finally, John delves into AI, Nvidia,
and the "hype cycle" surrounding the technology. He points out that companies
are desperate to use AI to their advantage, but for many of them, there's no use
for it in their business. Plus, John discusses "advanced general intelligence,"
which involves systems that can reason like human beings. Click here or on the
image below to watch the video interview with John right now. For the full audio
episode, click here. (Additional past episodes are located here.) The transcript
will be on the website soon.

Listen to the episode

I'm seeing some parallels with 2000 – but I'm not predicting a meltdown; Too
early to buy regional-bank stocks; Renting versus buying in housing

Jun 12, 2024

1) Some new charts and data in one of my favorite blog posts got me thinking
about the parallels between today's market and the one in 2000... That raises
questions of whether we're in a bubble, if it's time to dump shares of the tech
giants, and whether we might see a market meltdown or melt up. As longtime
readers know, I'm a big fan of Charlie Bilello – the chief market strategist at
wealth-management firm Creative Planning. In particular, I love his
always-insightful weekly blog post, The Week in Charts. And his latest one has
some big comparisons between today's market and the one back in 2000 in the wake
of the dot-com bubble. These two charts show that the relative valuations of
large-­cap stocks over small-cap ones and large-cap growth over large-cap value
recently reached highs not seen since 2000 – almost a quarter century ago: I
remember those days well... Just after the peak of the Internet bubble,
investors had piled into a small handful of big growth stocks – mostly in the
tech sector, like Cisco Systems (CSCO), Microsoft (MSFT), and Intel (INTC) – and
shunned everything else. Having already learned the basic principles of sound
investing from Warren Buffett and the late Charlie Munger, I played it almost
perfectly... I sold the few growth stocks I had been riding for a few years –
like Dell, AOL, Microsoft, Intel, and Gateway. Meanwhile, I scooped up
beaten-down stocks like Deb Shops (a quick double), the A-class shares of
Berkshire Hathaway (BRK-A) (up about 15 times since then), Ross Stores (ROST)
(up nearly 100 times), and Apple (AAPL) (up about 584 times). If only I had
fully held on to these stocks over the longer term – a lament I discussed in
yesterday's e-mail about Netflix (NFLX)! So are we in a similar situation today?
Is it time to dump the big-cap tech stocks, like my favorites – Amazon (AMZN),
Meta Platforms (META), and Alphabet (GOOGL)? I think not (though I wouldn't
argue with someone who had some big gains in these already and wanted to take
some profits off the table, either)... We are nowhere near the extreme bubble
territory we were then, so I'm not predicting a meltdown. In fact, I think a
melt up is more likely. Rather than resembling the peak in March 2000, today
feels to me more like early 1999. And look at what happened to the tech-heavy
Nasdaq Composite Index in the subsequent 15 months – it doubled: In summary, I
would hang on to the large-cap tech winners... but would look to put new cash to
work in small- and mid-cap value stocks. My team of seasoned analysts and I are
always scouring the markets for the best opportunities. And each month, we share
our favorite stock ideas with subscribers to our flagship Stansberry's
Investment Advisory newsletter. And right now, you can become a subscriber and
gain instant access to our entire archive and portfolio of open
recommendations... and you can also receive a full year of new ideas for 75% off
the regular price. And if for any reason you're not satisfied, just let our
customer service team know within 30 days, and they'll issue you a full
refund... so it truly is risk free to give the Investment Advisory a try. Learn
how to get started right here. 2) Moving on to more charts from Bilello's latest
Week in Charts post... He also included this chart, showing how regional bank
stocks, relative to the S&P 500 Index, have traded back down to near their
all-time lows from a year ago after Signature Bank and First Republic Bank went
under: Regional-bank stocks are certainly beaten down. But I think it's too
early to start bottom-fishing in this sector, for reasons I outlined in a series
of e-mails in which I tapped the expertise of my banking-expert friend in late
January and early February (my February 2 and February 8 e-mails have links). 3)
Lastly, Bilello shared a series of interesting charts showing how expensive it
has become – and still is – to buy a home. This is due to a sharp increase in
mortgage rates (the rate on a standard 30-year fixed-rate mortgage has gone from
less than 3% to around 7% today). And it's combined with home prices continuing
to rise because existing-home inventories have plunged because nobody wants to
give up a far-below-market 3% mortgage. As a result, housing affordability is
close to an all-time low. Take a look at this chart from Bilello's post: It's a
different story in the rental market... Vacancies have risen, so average rental
costs are down over the past year: As a result, Bilello correctly concludes:
"It's never been more expensive to buy a home versus renting it than it is
today." Take a look at this next chart: This is why I told my sister – who moved
last year from Kenya to take a new job in Washington, D.C. – to rent rather than
buy (as I discussed in my May 15 e-mail). Best regards, Whitney P.S. I welcome
your feedback – send me an e-mail by clicking here.

Keep reading...



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