Note to Readers from Larry: I am now brainstorming ways of adding even further value to my public and private communities. I know my private audience really enjoys my long-form research content. I also know that “learning” is a major part of why folks join my Community. I will continue to provide insightful research and investor education integrated in my content.
I am planning that in the near future, my members will have the choice to either join me on Patreon or Substack (Letters from Larry). On both platforms, I will provide exactly the same research & content. Existing Patreon members do not have to take any action. They do not need to move over to Substack.
I’m simply giving folks the choice which platform they would prefer using. I’m personally fine with either, but I do have a slight bias towards liking the Substack user interface more (on my end). Substack takes a bigger cut of the processing fee, but I think their layout is more user-friendly for readers so if it’s better for you, I’ll do it.
Additionally, the public/free content that I provide on Substack on a weekly basis will continue to happen. The only thing that is changing is that I will be using Substack to host a private community as well. In other words, the premium content I post on Patreon will be posted as paywalled (with previews!) on Substack.
Substack allows me to show previews of premium content, provide limited free trials, and allows members to gift subscriptions with trials to friends & family. For now, Patreon doesn’t allow me to do any of that.
Bottom line: My private research content will be hosted on both platforms in the very near-future. Existing Patreon members & friends do not have to take any action. I’m simply giving more choices for newcomers which platform they choose to be on.
2022’s bear market resulted in post-GFC leaders significantly lagging the S&P 500 YTD (Tech -8ppt & Cons. Disc. -14ppt) with the 2010’s laggard Energy outperforming by +80ppt. However, the top 50 stocks still represent >50% of the benchmark.
Macro Chart In Focus
Analyst Team Note:
Just before the pandemic, in the fourth quarter of 2019, American households held about $1 trillion in what was effectively cash—currency and accounts against which checks could be written. By the second quarter of this year, the amount had leapt to $4.7 trillion….
We want to take a moment to thank Interactive Brokers for being one of our Channel’s trusted Partners and to inform my audience of the special features they have given that our online friends here closely follow Chinese Internet stocks (BABA/Tencent).
Much of Larry’s audience is concerned about the US ADR issue of Chinese Stocks being delisted.
