Oyster with Black Bean Sauce, please, driver

China is taking over London transport.

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Fink Money & Tim Vollans
October 02, 2023 ā€¢ Estimated Reading Time: 5 minutes

The US government nearly ate itself over the weekend.

Stress is on nearly though.

Hereā€™s what to Fink about to kick off the week.

šŸ§  The Big Brain
Lazy Narratives & Opportunity

We love a lazy narrative.

Say something like ā€œHigher Rates Are Bad For Growth Stocksā€ and people will nod in agreement, congratulate you on your timeless wisdom, and CNBC will froth up your DMā€™s trying to book you for a TV spot.

Great for you, but what about the innocent viewer?

See, one constant feature of market coverage isā€¦ Noise. 

Those absolute statements that sound oh so smart, are generally true, all while being way more complicated to actually turn into action than most realise.

The instinctive solution is to ignore the noise. Just donā€™t pay attention.

Yes, taking these statements at face value is bad for your financial health. But itā€™s not advisable to ignore accepted wisdom either.

With the right balance, ā€˜paying attentionā€™ is a genuine source of edge, as long as you know what you want to pay attention to, and align that with your decision making process.

Read more šŸ‘‡

Higher Rates Are Bad For Growth Stocks

and other lazy narratives

pro.fink.money/p/higher-rates-are-bad-for-growth-stocks

āš” The Spark
Oyster with Black Bean Sauce, please, driver

Did you know that most buses in London are now made by BYD, the Chinese EV firm?

OK, theyā€™re built here in partnership with Alexander Dennis Ltdā€¦ a Canadian owned firm (do we Brits actually have anything of our own anymore?), but still, the complex bits like batteries and motion tech are made by BYD.

Rapid: Itā€™s astounding how quickly the firm has grown in the EV space, surpassing even Tesla for most units sold globally in 2022 (although it is not so popular in the UKā€¦ yet).

Dumping: The EU is annoyed at China because of their EV success. The precious German car manufacturers are feeling the squeeze.

And as of writing, Italy has come out to say theyā€™re going to try to cut Chinese EVā€™s price advantage by creating an incentive scheme.

Verdict: yeah, good luck.

Question thenā€¦

āš”If BYD is involved in the public sector, does this mean the stock has nice support, especially with how infatuated governments globally are with net zero aims now?

šŸ’” The Lightbulb
RIP Michael Lewis

Well, his career & reputation anyway.

Seriously, Michael Lewis is the acclaimed author of classics like Liarā€™s Poker, The Big Short & Flash Boys. All books that shone a light into poorly understood corners of the financial world.

His book on Sam Bankman Fried & FTX was eagerly anticipated.

Then he went on 60 minutes last night and committed professional suicideā€¦

How you can you, as an investigative author, come to this conclusion?

Lewis told 60 Minutes he does not believe Bankman-Fried knowingly stole customers' money, and explained that in the early days of FTX, the company couldn't get a bank account, so customer funds were sent to Alameda Research, which could get a bank account.

Oh he didnā€™t do it on purpose guys. Was just a little accident sorry about the 8 billion i lost lol.

The entire 60 minutes is devoted to portraying SBF as a misunderstood genius who just wanted to do good in the world.

Piss off. He was a MASSIVE FRAUDSTER. How do you NOT focus on that?

He lost billions of other peoplesā€™ money!

SBF knew EXACTLY what he was doing. The only thing he didnā€™t realise is that the game was up / it wouldnā€™t last forever.

Lewis even suggests that if it wasnā€™t for a little market panic, FTX would still be a thriving enterprise today!

Nope. It was a shit business, run terribly - the only way it survived as long as it did was the ponzi dynamics.

Honestly, the entire show looks like a pure whitewashing of history, presumably because of the political links (& egg on faces).

Hmmm. Why IS trust in legacy media so lowā€¦ šŸ˜‡