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Wall Street Oasis

Consumer Credit Pullback | The Daily Peel

Wall Street Oasis

Wall Street Oasis

Business

4.9534 Ratings

🗓️ 8 May 2024

⏱️ 20 minutes

🧾️ Download transcript

Summary

WSO Weekly Wrapup - ⁠⁠Sign Up for the Newsletter Here⁠⁠ The Daily Peel - Sign Up Here Join our Discord - Sign Up Here

Transcript

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0:00.0

What's up Eaves? Hope everybody is doing phenomenally well here this week. We have a lot to talk about here today, but before we go ahead and get into all that, of course, just want to address the recent kind of headlining news that's been going around lately about the former Bank of America Associate, as also the former heroic Green Beret, Mr. Leo Loughkevarez, who tragically passed away coming into this weekend here. So of course we hear at WSO, you know, this is kind of our thing we wanted to see.

0:23.8

There was any way that we could potentially help out the family or use our resources to, you know, some kind of good and just about any way that we could. So we've been working with a couple other groups and organizations and having a lot of discussions. I say we it's all Patrick and Abil on the rest of the team out there. So shout to those guys for doing the right thing, the best that they can. And we officially now have a fundraiser going. So make sure to click on that first link in the Banana Bits and tomorrow's Peel Edition to make sure that you're able to donate to that fundraiser. If you are able to donate, it would be phenomenal if you guys could. Of course, you know, we don't expect much.

0:56.3

The family even said any donation, regardless of the amount they appreciate tremendously. So please check that out. Consider, you know, if you are able to donate, please consider doing so or please do so. It's for a great cause. It's going to mean a lot to the family. and what better connection to have than, you know,

1:10.7

a U.S. military service member as well as working in our industry.

1:13.9

So feel free to the family. And what better connection to have than, you know, a U.S. military service member as well as working in our industry. So feel free to go ahead and pay your respects in that manner. Let's go ahead and get into the news that we have to talk about here today for the Daily Peel. So I know it's been a while since I hopped on here. It's had a crazy busy past couple of weeks for me personally, so I do apologize. We're also going to keep this one relatively short, because in case you guys can't tell,

1:30.9

got a big softball game coming up later for the bad news beers. Now, very important breaking news, the bad news beers are actually 2 and 0 in our last game. So that brings us to about 2 and 20 in the last two seasons, which ironically is also the standard fee structure of your average hedge fund. So I guess that's where we're all going to end up working once this softball team, once our professional baseball careers, completely fall apart. But we'll see what's going on with that. Either way, WSU Al portfolio, very rough start this week. I mean, we were for a brief second, you know, a couple of weeks ago performing both the NASDAQ and the S&P 500 for the year. We are officially now underperforming both because we fucked it today. It was terrible. Builders First Source and Disney are very much to blame there. Both stocks had earnings. They were down 16 and 10% respectively. So they completely fucked it. Both huge overreactions, if you ask me.

2:18.6

We're also going to be coming up with a video on all of big text earnings tomorrow. So make sure to

2:22.7

stay tuned for all of that stuff. And we'll talk about how that's factoring into the alpha

2:27.0

portfolio and what you should be considering for your portfolio in the meantime as well.

2:31.0

But for now, just know that the alpha portfolio ultimately fell about 1.31% here today.

2:35.8

The S&B 500 rose slightly. The NASDAQ fell very slightly. It was kind of a choppy, volatile day in markets here. But the alpha portfolio is officially now up 8.72% for the year, which is still pretty damn phenomenal, if you ask me. but you know we are now underperforming the S&P and the NASDAQ,

2:51.6

letting them get a little bit of a head start once again

2:53.3

so that we can come back and reclaim the title towards the end of this year.

2:55.6

We gotta create our own comeback kid situation because that's what we're here about. We're always been on the underdogs here at WSO, and that's exactly what we're gonna be doing this year.

3:03.6

All right, moving into some of the other banana bits here today, much less important than the first one that we discussed. But first and foremost, Reddit just dropped their

3:11.5

first earnings report as a publicly traded company here today. Shares absolutely popped after

3:15.8

hours, so the IPO frenzy is over, but the earnings frenzy is just getting started. Be sure to

3:20.1

check that out. Check out our video covering Reddit as well. Find out why you should completely

3:23.9

avoid that too there in case you were wondering.

3:26.3

But anyway, TikTok is also fighting back against the recent ban enacted by the U.S. Congress

3:31.8

to effectively ban TikTok or force the sale of it here in the United States.

3:35.8

They are fighting back. We knew this was going to happen. It's going to be a long, drawdown

...

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