Hey there weekday warriors,

Feeling down about your job hunt? Don’t feel too bad… the masters of the universe (think: Harvard MBAs) are having a hard time landing jobs too…

Here’s what we’re getting into today…

• Penn vs. HG Vora

• GM sues SF

• Boeing’s 737 MAX has a new problem

Enjoy the next 3 minutes and 42 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

PS, yesterday was one of those rare days (we usually get one around July 4th too) when next to nothing stands out. So, everything gets the TALKING SHOP treatment today…

+ US stocks “were mixed after the close on Thursday, as gains in the Telecoms, Utilities, and Financials sectors led shares higher while losses in the Oil and gas, Consumer Goods, and Basic Materials sectors led shares lower.” (Investing.com)

+ The 10-year Treasury yield was "higher on Thursday as investors weighed the path ahead for the economy and financial markets as the new year nears." (CNBC)

+ Oil “prices fell 3% on Thursday as more shipping companies said they were ready to transit the Red Sea route, easing concerns about supply disruptions as Middle Eastern tensions stay elevated.” (Reuters)

+ Bitcoin fell more than 2% thanks to profit-taking and technical resistance.

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Tesla -3.17% 2) AMD +1.84% 3) Nvidia +0.21%.

+ Bah gawd, that’s HG Vora’s music…

The hedge fund is waging war against Penn Entertainment (full disclosure: Penn was my former employer’s parent company, and I used to own shares). The masters of the universe, which own 18.5% of the company, are seeking multiple board seats. I love the smell of proxy fights in the AM…

Why? Well, it probably has something to do with Penn shares being down 15%, while some of its peers like Caesars and MGM are up 13% and 33%, respectively, on the year.

Even though HG Vora doesn’t usually get its “activist” on, it thinks Penn needs to get its sh*t together (apparently ESPN Bets isn’t enough?). It pointed to Penn’s capital allocation and M&A record as “areas of improvement.”

Shares of Penn rose 6.3% on the news. (Read)

+ Today in things that aren’t going to help SF get its homeless problem under control…

GM is suing San Fran for $121M. General Motors claims that the city has been overcharging it for the past 7 years. SF has been collecting taxes on GM’s Cruise division for nearly a decade… despite the brand making zero money in the city. And it kinda feels like this one is on GM…

Of course, this is nbd for GM, which did $150B in sales in 2022. But it could be a YUGE headache for SF, which is dealing with an $800M budget deficit. (Read)

+ Ok, don’t freak out if you're planning to travel for the holidays… but Boeing is warning airlines that it should double-check its 737 MAXs for a potential defect. Yes, the 737 MAX is the same Boeing jet that was grounded for nearly 2 years following two crashes caused by a malfunction.

This time around, there could be a “loose bolt in the rudder control system.” Probably nothing. Shares were down 0.67% on the day. (Read)

+ Remember Cheddar News? Me either…

Apparently, the self-proclaimed millennial-focused financial news streamer that wants to be The Water Coolest when it grows up still exists. And has sold (again). Altice USA, which bought Cheddar for $200M in 2019 will sell it to media holding company Archetype. The deal is allegedly structured as an earn-out deal that could potentially earn Altice $50M. For those of you keeping score at home, that means a $150M loss is the best-case scenario. (Read)

+ You might be dumb, but you’ll never be as dumb as the people who think Google doesn’t track you when you’re in Incognito mode.

Google just settled a class action lawsuit that accused it of illegally tracking the online behavior of millions of morons users who thought they were free and clear because they were in a private browser. Little did they know, the only thing that’s good for is not getting caught looking up tasteful nudes by your significant other…

The plaintiffs were seeking $5B. It’s not clear what the settlement was, but it probably wasn’t $5B… (Read)

+ A ‘significant objection’ to 529 college savings plans will go away Jan. 1. ‘This is a big deal,’ expert says (Read)

+ This is the No. 1 reason Americans are withdrawing from their savings (Read)

+ ICYMI... I became a millionaire at age 27—here are 4 ‘unpopular’ rules rich people follow that most don’t (Read)

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

+ Tesla could drop its delivery numbers

Yesterday, I asked What was the best book you read this year?

• The Fourth Turning Is Here: What the Seasons of History Tell Us about How and When This Crisis Will End by Neil Howe

• Elon Musk by Walter Isaacson (shoutout to Chase for sharing a YouTube interview summary of the 900-page book)

• The Accidental President: Harry S. Truman and the Four Months That Changed the World by A. J. Baime

• Never Split the Difference by Chris Voss

• Die With Zero by Bill Perkins

• Lessons in Chemistry by Bonnie Garmus

• Outlive by Peter Attia, MD 

• The Comfort Crisis by Michael Easter

• The Fraud by Zadie Smith

Here’s today’s question…

It’s the last newsletter of the year, so…

What was one resolution that you actually followed through with?

Reply directly to this email. I’ll share the best answers next week.

Oh, and one more thing…

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

No, it’s the face of a God-fearing family man with sh*t-for-brains. 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.