On today’s show we discuss the future of technology stocks in the 2023 market, EUV and ASML’s “monopoly on magic”, the risk reward of the stock market and why it may be deceiving, China’s deflations worries and what that may mean for the world economy, the downgrade on US debt and it’s implication on the market, the potential Birkenstock IPO, and the mall that sold for 93% LESS than it was worth in 2012 and the current Fargo housing market. Email us at laminatemoneypodcast@fjellcapital.com for questions or suggestions for future topics. Subscribe to the Weekend Reads Become a client of Fjell Capital Stocks Everything is up (https://www.capitalspectator.com/all-the-major-asset-classes-now-posting-gains-year-to-date/) Apple Card savings accounts surpass $10 billion in deposits] (https://techcrunch.com/2023/08/02/apple-cards-savings-account-reaches-over-10-billion-in-deposits/) Amazon shows strength (https://www.cnbc.com/2023/08/03/amazon-amzn-q2-earnings-report-2023.html) Interesting music stats (https://www.goldmansachs.com/intelligence/pages/infographics/music-in-the-air-2022/index.html?chl=em&plt=briefings&cid=804&plc=body) Tech or energy or industrials? (https://allstarcharts.com/regime-change/) The magic (https://thegeneralist.substack.com/p/asml) of Dis… I mean EUV (https://www.goldmansachs.com/intelligence/page/euv-made-semiconductor-chips-will-enable-next-wave-of-ai.html?chl=em&plt=briefings&cid=728&plc=body)? Equity risk premium doesn’t feel like a premium (https://www.wsj.com/articles/the-benefit-of-owning-stocks-over-bonds-keeps-shrinking-20528203?st=3f6714nwzhbesdx&reflink=desktopwebshare_permalink) Economy Inflation at home, deflation in China (https://www.wsj.com/articles/while-everyone-else-fights-inflation-chinas-deflation-fears-deepen-4045cabf?st=gc67142y963xyxt&reflink=desktopwebshare_permalink) Fitch downgraded US debt (https://www.axios.com/2023/08/01/fitch-ratings-us-credit-rating-downgrade) Microsoft has a higher credit rating that the US (https://www.linkedin.com/feed/update/urn:li:activity:7092611286336729088/) The US has fallen behind (https://twitter.com/DisruptorStocks/status/1686739033848700928) several other countries with their credit rating The big state’s labor markets are rolling over (https://www.visualcapitalist.com/unemployed-workers-vs-job-openings-by-us-state/) Housing Beyond Realty Fargo housing market update (https://www.linkedin.com/feed/update/urn:li:activity:7092552292087824385/) Is the local mall dead? (https://www.wsj.com/articles/local-malls-stuck-in-death-spiral-plunge-in-value-a7998b7d?st=065bno0mo3iqafg&reflink=desktopwebshare_permalink) -------------------------------------------------------------------------------- Chapters 00:00 Introduction 03:06 All major asset classes are higher 05:49 Will tech stocks turnover and underperform 09:17 The equity risk premium is gone 15:38 Amazon reports stellar earnings 20:40 The Apple card crests $10B in deposits and Apple reports earnings 25:40 What is going on in the music industry 35:45 EUV and the monopoly on magic 43:25 Fitch downgrades US debt 48:21 Fargo real estate market 49:52 This mall saw a 99% drawdown in price 53:12 Jobs across the country 55:40 Close