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  • June Portfolio Update: Genevieve adds to a position

June Portfolio Update: Genevieve adds to a position

Plus: A Surprise Announcement...

Hey, GRIT VIP! 🚀 

Hi Everyone!

Sorry for the delay with the June PAID newsletter…

I was busy making the best investment of my life—tying the knot with my best friend! 💍😊 

Here’s to love, laughter & happily ever after 💕✨🥂

Now, let’s get into it!

June was a fantastic month, with the S&P 500 up by 4.6% and the NASDAQ surging by 6%.

Today (Wednesday, July 9th), the S&P 500 has achieved 37 record closes in 2024…

Source: Finviz

Remember, the stock market is not the economy.

Usually, it’s WAY better ; )

If you have doubts, print the chart below, put it on your desk, and refer to it daily. :)

My Portfolio…

As of today (Wednesday, July 9th), my portfolio is up 11% YTD…

Keep reading to find out what changes I made this month!

But before that… let’s dive in!

What happened this month? A lot!

Here's my quick take on each:

  1. Unemployment ticks up to 4.1%, and payrolls revised lower – NOT GOOD

In June, US hiring and wage growth slowed, increasing the unemployment rate to 4.1% - its highest since late 2021.

Nonfarm payrolls increased by 206,000, exceeding expectations of 190,000. However, the devil is in the details: job growth for the prior two months was revised by 111,000. 


Here’s what’s even crazier as the Kobeissi Letter points out “in the first 5 months of 2024, non-farm payrolls have been revised down by a combined 240,000 jobs…Are headline numbers even worth following anymore?” 

They also note that “over the last 2 months, part-time employment is up by +336,000 workers. But, full-time employment is down by a MASSIVE -653,000 workers over the same time. What is happening here?”

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