👉 Money-Markets Hit All-Time Highs

Happy Sunday, everyone.

If you’ve not yet tuned into Episode 89 of the Rich Habits Podcast, you definitely should! Robert Croak and I share our six favorite tax-saving strategies for 2024. The year is almost over, which means time might be running out to implement these strategies!

Personally, my favorite strategy is donating appreciated stock. I know it doesn’t seem as sexy as the “triple tax-advantaged” HSA, but if done correctly you could really experience some major tax savings, help those in need, all while keeping the exact same amount of money in your brokerage account.

Let me explain…

Let’s assume you have a well-diversified portfolio and you’re doing fine financially. If you invested $5K into Palantir (PLTR) stock in 2023, it’s now worth $50K — with $45K of that being profit. Assuming you didn’t need the profits to sustain your lifestyle, you could donate the $45K of Palantir profits to your favorite non-profit entity (giving you a warm and fuzzy feeling knowing you’re helping people) while simultaneously giving yourself your $5K original investment back.

You still have your original $5K, and now you’re able to write-off $45K against your taxable income for 2024. My effective tax rate is close to 30%, which means if you’re anything like me — this donation would have saved you $13.5K in taxes!

You have the exact same amount of money you started with ($5K), you’re helping those in need (through your donation), and you’re saving $13.5K in taxes.

It’s not for everyone, but if done correctly it can really move the needle from a tax-savings perspective.

Again, listen to the episode! We dive into a ton more strategies.

Portfolio Updates (YTD Performance):

Putting my Bitcoin position at the top this time because HOT DAMN! Look at those profits — absolutely unreal. It’s been so rewarding seeing the consistent dollar cost averaging that took place during 2023 and 2024 finally paying off!

Wealth occurs when consistency meets discipline.

We had strong conviction that the price of Bitcoin had bottomed around the $23K range in early-2023, and I also knew we’d see another crypto super-cycle at some point — alongside the introduction of spot Bitcoin ETFs — and now we’re enjoying the fruits of our labor.

I’ll continue to hold my Bitcoin position until we see $120-150K per Bitcoin. At those prices, I’ll begin to scale out of my investment — hoping to sell everything before the bubble pops once again. Once back in cash, I’ll pay my taxes and then re-allocate my capital into dividend growth stocks and ETFs.

Speaking of dividend growth stocks and ETFs, the performance of the Dividend Growth Stocks section of my portfolio is being dragged down by 4 positions who (despite still being in the green this year) are underperforming the S&P 500.

• Union Pacific (UNP)

• Analog Devices (ADI)

• Realty Income Corporation (O)

• VICI Properties (VICI)

The other 14 positions inside of that section of the portfolio are all either on-par with or outperforming the S&P 500 — a good thing!

Week in Review — Too Long, Didn’t Read:

Monday.com’s 2nd largest customer added +35,000 more seats, On-Running’s DTC revenue expanded by +50%, Shopify’s app facilitated $17B in payments during the quarter, Money-market funds surpass $7 trillion, crypto continues to see record inflows, the world was watching Netflix’s boxing match, Consumer Inflation progress stalled, Retail Sales slightly rose, and Wholesale Inflation accelerated.

Key Earnings Announcements:

Monday.com’s 2nd largest customer added +35,000 more seats, On-Running’s DTC revenue expanded by +50%, and Shopify’s app facilitated $17B in payments during the quarter.

• Monday.com (MNDY)

Key Metrics

Revenue: $251.0 million, an increase of +32% YoY

Operating Loss: -$27.4 million, compared to -$2.5 million last year

Net Loss: -$12.1 million, compared to $7.5 million last year

Earnings Release Callout

“Reaching $1 billion in ARR marks a major milestone in our journey as a company, and we are more excited than ever to enter this next stage of growth, building on the strong foundation we’ve established. As we look ahead to the rest of the year and into FY25, we are confident in our ability to build on this momentum and continue to deliver strong growth at scale.”

My Takeaway

• On Holding (ONON)

Key Metrics

Revenue: $635.8 million, an increase of +32% YoY

Operating Income: $72.6 million, an increase of +25% YoY

Profits: $30.5 million, compared to $58.7 million last year

Earnings Release Callout

“Our commitment to innovation and excellence has allowed us to capture this demand and deliver outstanding performance, particularly in our DTC channel.

The resulting net sales and profitability ahead of our expectations puts us in a position to significantly increase our outlook for the full year 2024, and fuels our confidence as we head into the holiday season and continue to shape the future of sportswear."

My Takeaway

• Shopify (SHOP)

Key Metrics

Revenue: $2.2 billion, an increase of +26% YoY

Operating Income: $283.0 million, an increase of +131% YoY

Profits: $828.0 million, an increase of +15% YoY

Earnings Release Callout

“Shopify achieved 26% revenue growth and 19% free cash flow margin this quarter, marking our sixth consecutive quarter of greater than 25% revenue growth excluding logistics.

Moreover, we have grown free cash flow margin sequentially each quarter this year, consistent with what we delivered last year. These results demonstrate the durability of our business, our multiple avenues for growth and continued discipline of balancing both future growth investment and operational leverage.”

My Takeaway

Investor Events / Global Affairs:

Money-market funds surpass $7 trillion, crypto continues to see record inflows, and the world was watching Netflix’s boxing match.

• Money-Market Funds Surpass $7 Trillion

Money market fund assets under management have reached an unprecedented milestone — surpassing $7 trillion for the first time in history. Over the past week alone, these funds attracted a remarkable +$91 billion in inflows — even as the Federal Reserve announced another 25-basis-point rate cut.

This influx highlights the strong demand for the relatively safe and high-yielding investment opportunities money market funds provide during periods of economic uncertainty.

The total assets in money market funds have doubled in just 4.5 years, reflecting their growing popularity among both retail and institutional investors. According to the Crane 100 Money Fund Index (which monitors the 100 largest money market funds), the average yield on these funds currently stands at 4.51%. This competitive yield continues to draw investors seeking stable returns without the volatility of equities or long-term fixed-income instruments.

• Crypto Sees Record Inflows

In the past week, U.S. large-cap equity funds experienced an unprecedented surge with a record $44.1 billion in inflows — signaling renewed investor confidence in the stock market. Meanwhile, cryptocurrency funds also reached a historic milestone, amassing $6 billion in weekly inflows. These robust inflows reflect a broader "risk-on" sentiment as investors seek opportunities in equities and digital assets amid evolving market conditions.

Looking at the broader trends, Bank of America Global Research noted a significant shift in asset allocation as capital moved from bonds to stocks and from gold to cryptocurrencies. This rotation suggests that investors are recalibrating their portfolios to align with the current macroeconomic and geopolitical landscape — favoring assets with higher growth potential.

Despite these shifts, many investors continuing to hold substantial cash and cash-equivalent positions (as we just highlighted). This cautious optimism indicates that while market sentiment is improving, some uncertainty lingers as participants await further clarity on policy directions and economic stability.

• Jake Paul & Mike Tyson Fight Broke Records, Had Buffering Issues

The boxing match between Jake Paul and Mike Tyson broke records, with Netflix reporting 60 million households tuning in — peaking at 65 million concurrent streams.

The event also drew 72,300 attendees to AT&T Stadium in Arlington, Texas — generating over $18 million in gate receipt. This marks the largest ticketing revenue in boxing history outside Nevada.

50 million households watched the women's boxing match between Katie Taylor and Amanda Serrano — marking it as the most-watched professional women’s sports event in U.S. history.

In addition to shattering streaming and attendance records, the event saw widespread commercial distribution, streaming in over 6,000 U.S. bars and restaurants. Despite its success, some Netflix viewers experienced disruptions, including buffering and glitches, peaking at 95,000 complaints. The fight underscored Netflix’s potential in live sports broadcasting, as it departed from traditional pay-per-view models — offering the match free to subscribers as it continues expanding into the sports market.

Netflix really needs to fix those buffering issues before they host NFL games in December…

Major Economic Events:

Consumer Inflation progress stalled, Retail Sales slightly rose, and Wholesale Inflation accelerated.

• Consumer Price Index (CPI)

In October, the annual inflation rate reached +2.6%, in-line with expectations, as the consumer price index (CPI) rose +0.2% for the month. Core CPI, which excludes food and energy, increased 0.3% monthly and +3.3% annually — also meeting forecasts.

Shelter costs remained the largest contributor to inflation, rising +0.4% in October and accounting for over half the CPI increase. Inflation-adjusted hourly earnings edged up +0.1% for the month and +1.4% over the year, providing slight relief for workers.

Stock market futures rose, and Treasury yields fell following the report, with traders boosting odds of a December interest rate cut by the Federal Reserve. However, uncertainties around tariffs and government spending under President-elect Donald Trump could impact inflation and future Fed policy adjustments.

• Retail Sales

October retail sales rose +0.4%, surpassing the expected +0.3% increase, driven largely by a +1.6% jump in auto sales. September sales were revised significantly higher to a +0.8% gain from an earlier estimate of +0.4%, signaling stronger consumer spending than initially thought. However, October sales excluding auto and gas rose only +0.1%, and the control group declined +0.1%, both falling short of expectations.

Despite weaker October data in some categories, robust September revisions suggest consumer spending remains a key driver of economic growth. Economists noted that the data indicates continued strength in the U.S. economy, though the Federal Reserve is likely to maintain a cautious approach to interest rate cuts.

• Producer Price Index (PPI)

US producer prices rose +0.2% in October, with core producer prices (excluding food and energy) climbing +0.3%, both slightly exceeding expectations. Portfolio management fees surged +3.6%, the most in six months, contributing to the increase and signaling potential pressure on the Fed’s preferred inflation measure, the PCE price index.

Annual PPI inflation stood at +2.4%, while core PPI reached +3.1%, reflecting persistent inflationary pressures despite broader stabilization earlier in the year. Additional gains were seen in services and goods prices, driven by increases in machinery wholesaling margins, cable services, and carbon steel scrap costs, though declines in wholesale food and energy tempered the overall rise.

The report has led some economists to revise their core PCE inflation forecasts upward, while markets have trimmed expectations for a December rate cut. Meanwhile, unemployment claims fell to their lowest since May, underscoring continued labor market resilience.

Top Card Offering 0% Interest until Nearly 2026

This credit card gives more cash back than any other card in the category & will match all the cash back you earned at the end of your first year.

Learn More

_{This is a one-time paid advertisement from CompareCredit. The Grit Team cannot directly endorse this credit card offering. For full details and disclaimers, visit the advertised site above.}

Don’t follow us on social yet? Follow us on Instagram, TikTok, and Twitter.

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.

Cover image source: Screen Rant

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy

If you have any questions please contact us at info@gritcap,io