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[5 minutes to read] Plus: Wawa heads South

Together with

By Matthew Gutierrez and Shawn O’Malley

Between dazzling stock charts and flashing price quotes, it’s easy to forget that corporate earnings are what fundamentally drive stock returns over time.

On that front, fourth-quarter earnings are looking great: Of the roughly 360 S&P 500 companies that have reported earnings, 58% have “substantially beat” estimates (i.e., by at least one standard deviation), according to Goldman Sachs.

💭 Meanwhile, as our Chart of the Day shows, it’s a particularly good time to be in the sports-betting biz like Draft Kings — its stock is up over 150% in the last year as Americans spend more than ever on online gambling.

Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss:

  • A big investor’s private equity plea

  • Wawa billionaires bet on the South

  • LeBron James’ booming business

All this, and more, in just 5 minutes to read.

POP QUIZ

Boomers are living in their homes for longer and not leaving — what percentage of the Boomer generation has owned the same home for over two decades? (The answer is at the bottom of this newsletter!)

Chart of the Day

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