🤡 SoftBank is a joke

SoftBank took another loss | Palantir said things have turned "lumpy" | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for August 9th in 3:06 minutes. 💥 Tell us what you want – what you really, really want – from our Modern Investor Summit by [answering this survey](. You could even win a free pair of AirPods Pro, perfect for enjoying a certain 90s girl group. Zig-a-zig-ah. [Answer the survey here]( Today's big stories - Japanese conglomerate SoftBank reported its biggest-ever quarterly loss (again) - You only need to look to Buffett, Graham, and Klarman for the secrets to investing in a recession – [Read Now]( - Software firm Palantir reported worse-than-expected results SoftBank’s Vision Fund Isn’t What It Used To Be [SoftBank’s Vision Fund Isn’t What It Used To Be] What’s Going On Here? Japanese conglomerate SoftBank [reported]( a new biggest-ever quarterly loss on Monday. What Does This Mean? SoftBank’s Vision Fund business – which manages the world’s biggest tech-focused investment funds – continues to be pummeled by a sharp selloff in tech stocks on the back of rising interest rates. It posted a record $17.2 billion loss last quarter, caused by big drop-offs in the value of key holdings like DoorDash, Coupang, and SenseTime. That means the segment was largely responsible for SoftBank’s $23.4 billion total loss – its second record loss in a row. SoftBank’s shares barely budged after the news, probably because investors were already well aware that this was on the cards. So by now, they’re probably wondering what the point is: SoftBank’s share price is now close to where it was five years ago, before the Vision Fund even existed… Why Should I Care? The bigger picture: Keep it on the down-low. SoftBank’s Vision Fund also holds big stakes in hundreds of unlisted tech startups. And while it’s much harder to value those investments, it doesn’t sound like things are going particularly well: SoftBank wrote down their values last quarter, after weak performances across the board and lower valuations in recent fundraising rounds. That’ll make it even harder for SoftBank to get out of this rut: it’s now less likely to list these firms on the stock market, which means it has less cash to plow into new investments. Zooming in: Buy never, pay never. Klarna is SoftBank’s problem in a nutshell: the buy-now-pay-later company – and member of SoftBank’s Vision Fund – saw its valuation [slashed]( by 85% after its fundraising round last month, taking it from $46 billion to just $7 billion ([tweet this](). That’s down to two big problems: customers saddled with debt are struggling with the “pay later” bit, while others are simply deciding not to “buy now” in the first place. You might also like: [Will this SoftBank-backed company buck the trend?]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=SoftBank’s Vision Fund Isn’t What It Used To Be&utm_campaign=daily-global-09-08-2022&utm_source=email) Analyst Take Buffett, Graham, And Klarman On How To Invest In A Recession [Buffett, Graham, And Klarman On How To Invest In A Recession ]( By Theodora Lee Joseph, Analyst It’s official: the US economy is in a [technical recession](. And whether the US government [agrees]( with that definition or not, one thing is indisputable: the investing backdrop isn’t getting any better. So it’s on you to find [new ways to invest]( at a time like this, and value investing – finding stocks that look cheaper than the rest of the market – might be just what you need. That brings us to Warren Buffett, Seth Klarman, and Ben Graham: three value investors who know exactly [how to invest at a time like this](. So that’s today’s Insight: [eight lessons from three value investing gurus](. [Read or listen to the Insight here]( SPONSORED BY YONDER Your key to London town You know, one of those card-shaped keys, like the ones you use in hotels. Okay, fine: it’s a credit card. But it’s a [Yonder credit card](, meaning you’ll be properly rewarded with real, local experiences when you spend. We’re talking meals at [snazzy restaurants](, tickets to [Secret Cinema](, and [luxury countryside getaways](. And that’s on top of [worldwide family travel insurance]( and purchase protection. You’ll never have to pay any foreign exchange fees, and you can chat to a real person anytime with Yonder’s [24/7 customer support team](. And here’s the best bit: it’s all [just £15 a month](. Experience real rewards for once: [apply now and get a £50 complimentary experience and your first 3 months free](. [Check It Out]( Approval is subject to eligibility. Over 18 & UK residents only. Membership fee applies. Borrow responsibly. T&Cs apply. Rep 59.3% APR var. Palantir Should’ve Known SPACS Were Too Good To Be True… [Palantir Should’ve Known SPACS Were Too Good To Be True…] What’s Going On Here? Secretive analytics company Palantir [announced]( a mixed set of quarterly results on Monday. What Does This Mean? On the face of it, Palantir had a good quarter: the company’s revenue grew a better-than-expected 26% last quarter from the same time last year. But dig a little deeper, and things start to come apart at the seams. First, the firm posted a surprise loss for the quarter, mainly because its investments in SPACs – the mid-pandemic fad into which it [pumped]( more than $400 million last year – haven’t panned out. And second, its revenue outlook for this quarter fell short of estimates, which Palantir put down to the “lumpiness” and unpredictability of government contracts. But investors don’t want excuses, they want results: the firm’s share price fell 15% after the update, meaning it’s now dropped almost 50% this year. Why Should I Care? Zooming in: It should be Palantir’s moment. Palantir’s international revenue – which makes up 40% of sales – barely grew at all last quarter, even as the firm has been trying to curry favor with European governments on the back of the Russian invasion. And sure, some of that was down to the strong dollar, which lowers the value of international sales when converted back to the US dollar. But it also suggests that Palantir's sales approach – whether charm offensive or fear-mongering – hasn’t been working quite as well as it hoped. The bigger picture: Palantir wants you. Plenty of tech firms have said recently that they’re freezing hiring or cutting jobs, but not Palantir: it announced last week that it’s on track to increase headcount by about 25% by the end of the year, as it accelerates its pace of hiring to meet its ambitious sales goals. But since that’ll push its costs up even more, it remains to be seen if the extra sales will justify the investment… You might also like: [A three-minute analysis of Palantir.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Palantir Should’ve Known SPACS Were Too Good To Be True…&utm_campaign=daily-global-09-08-2022&utm_source=email) 💬 Quote of the day “It always seems impossible until it’s done.” – Nelson Mandela (a South African anti-apartheid activist) [Tweet this]( SPONSORED BY NOBIAS Analyze the analysts [Nobias]( is on a mission to make financial media more transparent for investors. Nobias uses its AI-based [Analyst Accountability Algorithm]( to scan and interpret 300,000 financial articles every day, and then [ranks the performance]( of individual financial experts. That bank of information lets you [assess a writer’s credibility]( before you act on their advice, and you’ll even be able to see how their stance [compares to the wider market sentiment](. 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