Hey there weekday warriors,

Here’s what we’re getting into today…

• DJT plummets after brutal SEC filing

• Google settles “Incognito Mode” suit

• January manufacturing data comes in hot (and what it means)

Enjoy the next 4 minutes and 21 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “mostly edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher.” (Reuters)

+The 10-year Treasury yield “rose Monday as investors kicked off the second quarter and weighed the latest U.S. inflation data.” (CNBC)

+ Oil “edged up about 1% on Monday with U.S. futures closing at a five-month high, on expectations that economic growth in the U.S. and China will boost demand, while supplies tighten on OPEC+ output cuts and attacks on Russian refineries.” (Reuters)

+ Bitcoin “slipped on Monday, pushing the largest cryptocurrency by market cap back below the $70,000 threshold amid higher market volatility ahead of the long-awaited halving event that is expected to happen later this month.” (Investing.com)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Trump Media & Technology Group -21.4% 2) Nvidia +0.01% 3) Reddit -6.7%

Are you looking to diversify your portfolio beyond stocks and bonds?

With EquityMultiple, you can start investing in high-quality commercial real estate (CRE) opportunities with as little as $1,000.

EquityMultiple is your gateway to private-market CRE, offering streamlined access to opportunities once reserved for the wealthy or institutional investors.

The platform simplifies the investment process, making it easy for you to build a more diversified portfolio.

Sponsors are the reason I can bring The Water Coolest to you every day for free. The only thing I ask is that you show them some love by clicking and checking out their offer.

The market moves you need to know about…

– Home Depot investors didn’t love the retailer’s decision to acquire SRS Distribution. Shares fell 4.0% after Friday’s deal. It probably didn’t help that HD also announced it would pause buybacks.

+ US Steel rose 2.5% on news that Nippon Steel plans to play nice with the United Steelworkers union. It agreed to billions in capital spending and promised no layoffs at US Steel until 2026. Nippon is doing its best to acquire US Steel, but the Biden administration isn’t a fan of a Japanese company taking over something called “US Steel.”

– Herbalife plummeted 9.3% yesterday after it announced that it was about to suckle from the teet of the debt market again.

Yuge loss

Everyone: “Meme stocks are so back.”

Narrator: “Meme stocks were not back…”

Perhaps Trump Media & Technology Group, the stock formerly known as DWAC, isn’t a meme stonk after all. Because DJT investors just acted in a totally, 100% rationally. Shares fell more than 20% after the company shared some brutal 2023 results.

In an SEC filing, Trump Media & Technology Group reported that it lost $58.2M on $4.1M in revenue last year.

The company also pointed out the unique risks associated with investing in it…

Like, “success depends in part on the popularity of its brand and the reputation and popularity of President Trump.”

Or my favorite: “Lesser need for Truth Social if First Amendment speech is not suppressed.” This sounds like it was written by a Donald Trump AI chatbot.

It also pointed out that it “expects to incur operating losses for the foreseeable future” and it had found “material weaknesses in its internal control over financial reporting.” Probably nothing…

But…

Have no fear, stakeholders… shares are still trading well above the SPAC acquisition price. And the company that powers Truth Social is still valued at more than $6.5B.

+ Why they don’t teach you how to do your taxes in school—and how to actually get started (Read)

+ Some of the Best Credit Cards for Balance Transfers (Read)

+ Nearly 35% of millennials say they're behind on saving for retirement. A financial advisor could be the next money move to make (Take the quiz)

+ 34-year-old making $49,000 a month in passive income: What I always tell people who want to build successful side hustles (Read)

BTW, some of these include affiliate partnerships.

+ Huge win for dumb people with weird fetishes everywhere…

Google has never been so happy to sign a “multibillion-dollar settlement.” The only thing it had to do? Delete billions of records.

Alphabet dragging a ton of data to its recycle bin settles a class action lawsuit filed by a bunch of Chrome users. They claimed that the company was keeping tabs on them, despite using a “private” browser.

The plaintiffs’ lawyers valued the settlement at nearly $8B… but no cash will actually change hands. Google’s accusers will win something more important… a sense of relief knowing their browser history won’t get out.

Google also promised to add some language to clarify just how private its private browser is (think: the time McDonald’s had to warn people that hot coffee was… hot).

+ Not that anyone cares, but… gold just hit another record high. It’s gotten a boost thanks largely to rate cut expectations and investors (like your grandfather) seeking shelter just in case the tensions in the Middle East lead to WW3.

+ “It’d be a lot cooler if you did.” - United Airlines asking pilots to do them a solid

The airline is asking pilots to take unpaid PTO this Spring and Summer. The reason? Because the Boeing jets it was expecting for delivery have been delayed (see: massive safety issues). That means United is cutting flights… and doesn’t have anything for pilots to do. And it would really rather not pay them…

+ F*ck me. We cannot catch a break, guys. January ISM manufacturing data came in much hotter than expected yesterday. That ended 16 months of contraction. And just like that, markets are pricing in a less than 50% chance of a June rate cut…

Here's what I'm keeping an eye on today...

+ Cal-Maine Foods, Paychex, and Dave & Buster's report

+ GE Vernova begins trading following its GE spinoff

+ Lots of Fed Speakers running their mouth

Yesterday, I asked, “Do you have a side hustle?”

32.1% of you have a side hustle. Some of my favorites...

• Buying Amazon overstock stored in 3rd party warehouses at auction for pennies on the dollar and reselling the inventory on Amazon.

• Adjunct Professor at an actual respected university. Still stunned they let me do it.

• I have small children so it's like a side hustle, but with negative money.

• bigrockvonkennels.com is my side hustle

• South Asian matchmaker

• Slum lord

Here’s today’s question…

Let’s stick with the personal finance theme for a minute.

Oh, and…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.