Wage inflation: UPS workers approve massive new labor deal with big raises. The deal passed with 86.3% of votes, the highest contract vote in the history of Teamsters at UPS, according to the union
Under the new agreement: 1. Part time workers will make no less than $21/hour, up from a minimum of $15.50 currently, 2. Full time workers will average $49/hour. Current workers will get $2.75 more an hour this year and $7.50 an hour more over the five-year contract. 3. UPS drivers will average $170,000/year 4. Contract impacts ~340,000 workers 5. The company cut its full-year revenue and margin forecasts, citing the “volume impact from labor negotiations and the costs associated with the tentative agreement.” UPS has put $30 billion aside for this new contract
Nvidia establishes itself in the $1 trillion club. But expectations for Wednesday's numbers are immense
In Q1, Nvidia $NVDA crushed analysts’ revenue estimates by 10.4% as revenues rose 19% QoQ to $7.19 billion. The strong sequential growth was led by record data center revenue, primarily helped by accelerated computing as generative AI drove high demand for Nvidia’s products. For Q2, Nvidia is projecting revenues of $11B, up 68% QoQ, with a 400 bp increase in gross margins as AI takes center stage. The AI-hype has driven some stocks valuations to extreme levels. Nvidia is the most emblematic one among large-caps is with a P/E ratio which went from under 50x to 224x in just 8 months. Source: Bloomberg
Nice one by Netflix
Source: Daniel Abrahams
Think you're bad at timing the market? CEOs Business Confidence historically hits the lowest level at market bottoms...
Sounds like an effective contrarian indicator... Source: Brian Feroldi
The virtues of direct democracy
Swiss Example
Investors learn the most by studying other investors' mistakes
Source: Brian Feroldi
Higher real bond yields create a challenge for global equities valuations
Source: Bloomberg
"The real money in investment will be made not out of buying and selling but of owning and holding securities" - Charlie Munger
Source: Investment Books (Dhaval)
