🎙️ Mega-Cap Dominance

This is the last time we’ll be in your inbox for a few days as we take some time with our families for the holidays.

💭 But we’ll see you again on December 27th, and in the meantime, there’s plenty of great stuff packed into today’s newsletter for you to enjoy.

One more thing: The whole point of this newsletter is to inform, educate, and entertain you each day, so please help us get to know you better. The best gift you could give us this year is a minute of your time to fill out this survey.

If you do, you’ll have a chance to win one of the three $50 Amazon gift cards we’re giving away.

— Matthew and Shawn

QUOTE OF THE DAY

“The way you spend Christmas is far more important than how much.”

— Henry David Thoreau

COOL CHARTS

TUNE IN

🎧 Clay Finck provides all the takeaways from the Elon Musk biography

🎥 Your next car might not have a steering wheel

🎥 The shadow fleet fueling Russia’s war

🎧 Jeff Bezos on Amazon and Blue Origin in rare, long interview

INVEST LIKE THE LEGENDS

(Watch The Trailer👇🏻)

Learn to invest like the legends — from the company that has interviewed them ✔️

🎙️ We've interviewed investing legends like Ray Dalio, Howard Marks, Joel Greenblatt, Jeremy Grantham, and many more, and now, we’re passing along the most important things we’ve learned to you.

In our new course, we'll take you through ten different sections, covering what a stock actually is and how stock markets work, strategies to optimize your retirement savings, picking great companies, what to look for in ETFs, and how to monitor your investments + so much more!

We Study Markets readers can use the coupon code WSM15 to take 15% off at checkout 💰

WHAT WE’RE READING

📖 Books: What I Learned Losing a Million Dollars, by Jim Paul

📰 Long-form articles: Top takeaways from Howard Marks’ Oaktree Capital quarterly letters

🗞️ Advice: Ways to build mental toughness and resilience 

TRIVIA

TWEET OF THE WEEK

RECOMMENDED READING: CARBON FINANCE

Enjoy these investing infographics?

Our friend Carbon Finance sends out a weekly newsletter with simple, data-driven visuals that cover the most important headlines in investing.

The best part is it’s completely free and only takes 5 minutes to read.

FINAL THOUGHTS

🔢 One Big Number: 34%. That’s the number of companies in a recent survey reported by the Wall Street Journal that won’t be giving year-end bonuses — up from 27% in 2022.

🧹 Housekeeping note: If you’re looking to give a little this holiday season, we wanted to highlight the incredible work being done by the folks at the World Central Kitchen, which is currently feeding people everywhere from Gaza to Ukraine to Tennessee.

A small donation of just a few bucks can help “WCK” provide fresh, nutritious meals to those in need.

You can donate or get involved here.

See you next time!

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