👜 Hermès lived it large

Three big banks posted bumper results | Hermès had a très chic quarter | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for April 17th in 3:14 minutes. 🌟 Unlock the secrets of the investment elite. Join Sweater's Jesse Randall for [How To Invest Like A Venture Capitalist]( this Monday, and discover the strategies used by top-tier investors to spot winning companies. [Get your free ticket]( Today's big stories - US banks reported a stellar quarter, but the winds of change are starting to blow - Here’s what might be next for the markets, if history’s any guide – [Read Now]( - Hermès gave super-luxe results that showed it was living large last quarter All The Way To The Bank [All The Way To The Bank] What’s Going On Here? Three giant US banks reported expectation-shattering results on Friday. What Does This Mean? After Silicon Valley Bank’s collapse triggered a banking crisis last month, all eyes were on [JPMorgan]( (JPM), [Citigroup](, and [Wells Fargo's]( results, as rough indicators of the sector’s general health. And the results were surprisingly good at first glance. Sure, deposits at JPM and Wells shrank compared to the same period last year, and Citi's stayed flat, but it wasn’t all bad news: higher interest rates boosted their net interest income – that’s money they make from loans, minus payouts on deposits – by an impressive 49% for JPM, 45% for Wells, and 23% for Citi. That helped soften the blow of downturns in areas like investment banking, hampered by sluggish deal-making and tepid stock markets. In the end, then, all three banks managed to outdo expectations for revenue and profit last quarter. Why Should I Care? For markets: Gathering storm. JPMorgan said the US economy is faring well, but it did warn of "storm clouds" on the horizon. That’s a common feeling, too: all three behemoths upped their reserves for bad loans, and that move’s pretty telling. Remember, these banks have their fingers in every part of the economic pie, so if they're all treading carefully, it’s probably for good reason. That could explain why the US stock market barely budged after the news, despite the banks' impressive headline digits. The bigger picture: Domino effect. If recent tremors make banks more selective with their lending, then they could make a downturn more likely. After all, increased choosiness would tighten the noose on borrowing for consumers and businesses, who are already dealing with high interest rates. And while big corporations, cushioned by sizable cash reserves, might be all right at first, smaller businesses could soon find themselves in hot water. Those underdogs are the lifeblood of the US economy, though – so everyone else could follow suit. You might also like: [Why wearing your investments may be a timely idea.]( Copy to share story: [/all-way-bank]( 🙋 [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=All The Way To The Bank&utm_campaign=daily-global-17-04-2023&utm_source=email) Analyst Take What 120 Years Of Stock Market Data Tells Us About Where To Invest Today [What 120 Years Of Stock Market Data Tells Us About Where To Invest Today]( Investors today are bombarded with an onslaught of financial news and data, and can [trade shares and funds in an instant]( from their mobile phones or computers. That means they’re often tempted to think short term and focus too much on what markets are doing in a week, month, or year – rather than putting their money to work [for the long term](. But looking at financial history can help you [take a step back and focus]( on the big – rather than the small – picture. That’s today’s Insight: [investing takeaways you can glean from 120 years of stock market history.]( [Read or listen to the Insight here]( SPONSORED BY REAL VISION Unlock thousands of hours of research in one ten-hour course The mass of investing information on the internet is a blessing and a curse. On one hand, you’re never short of [insights and advice](. But on the other, you’re bound to end up with a bounty of untrustworthy sources, conflicting information, and exaggerated news blasts. That’s why [The Real Investing Course]( is such an oasis: the course condenses [thousands of hours of insights from pro investors](, delivered by expert hosts like [Roger Hirst]( and [Maggie Lake](. You can hone your skills with quizzes and [workshops based on real-world investing scenarios](. Plus, you’ll [meet a like-minded community of investors](, and pocket a brag-worthy certificate. And here’s the kicker: you can [get 40% off Real Vision’s Real Investing Course]( for a limited time.  [Find Out More]( When you support our sponsors, you support us. Thanks for that. In The Lap Of Luxury [In The Lap Of Luxury] What’s Going On Here? Hermès’s quarterly results [showed]( it’s outshining luxury rivals. What Does This Mean? Hermès is in a league of its own at the moment. While China’s lockdowns dented competitors’ sales toward the end of last year, Hermès seemed completely unruffled – and this past quarter’s hefty Chinese New Year sales suggest the firm’s only going from strength to strength. And it’s not just thriving in China. While rival LVMH stagnated in the Americas, Hermès saw some luxe stateside growth, with a winning combination of brand desirability and waiting lists keeping demand hot. That helped Hermès's watches division forge right ahead too, even as top Swiss watchmakers warned of a potential slowdown – and the firm’s ready-to-wear offerings and handbags didn't leave any money on the table either. All in all, sales rose 23% yearly (excluding currency fluctuations), easily outstripping the anticipated 16%. Why Should I Care? For markets: Classy cash. Hermès’s stock is up over a third this year, outperforming market leader LVMH – and just last week, its valuation crossed the €200 billion ($220 billion) threshold for the first time. That might be down to the ace Hermès has up its (silk) sleeve. See, the firm’s classic styles are a hit with older (and even wealthier) luxury shoppers, who are less vulnerable to economic slowdowns. So keep an eye on the valuation gap between Hermès and market leader LVMH – if the former can stay on track, there’s a good chance it’ll keep narrowing. Zooming out: King of the castle. This luxury boom will have shareholders popping open the Moët et Chandon – especially Bernard Arnault, whose family owns half of LVMH. Last week Arnault’s fortune [surged]( to an eye-watering $210 billion, cementing his position as the world's richest person and outshining Elon Musk’s $180 billion. And that makes sense: Tesla’s having to slash prices to increase demand, but LVMH’s designer offerings are still sitting pretty – and pricey. Copy to share story: [/lap-luxury]( 🙋 [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=In The Lap Of Luxury&utm_campaign=daily-global-17-04-2023&utm_source=email) 💬 Quote of the day “I think age is a very high price to pay for maturity.” – Tom Stoppard (a British dramatist and screenwriter) [Tweet this]( SPONSORED BY LEGION WORKS Here’s your chance to be a Shark Tank judge Be honest, you can crunch numbers and crack one-liners like the best high-flying investors. But while they’re in the hot seat, taking their pick of the world’s [most promising new business ideas](, you’re stuck at home watching the television. Well, not this time: by joining [Dalmore’s Demo Day](, you’ll get to hear ten-minute pitches from the CEOs of [five influential young companies]( before you explore their offerings and opportunities. They range from a [building system that could make homeownership cheaper]( to a [venture studio]( to a [real estate investing platform]( – there’s even one that makes [smart window shares](. Get your hair and makeup organized: [Dalmore’s Demo Day is on April 19th, 12pm Eastern Time and registration is open now](. And even if you can't attend the live webinar, you can still [register to get the recording sent straight to your inbox](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up This Week... All events in UK time. 🌎 [How To Invest Like A Venture Capitalist](: 6pm, April 17th 💰 [How To Build Wealth In The New Tax Year](: 1pm, April 18th 👀 And After That... 🙋‍♀️ [Women And Investing: Powering Up Your Pension](: 5pm, April 25th 🚀 [Meet The Founder: Selina IPO](: 5pm, May 3rd 💥 [Investing 101: The DIY Investor](: 1pm, May 4th 🎉 [Modern Investor Summit 2023](: 12pm, December 5th and 6th 🎯 On Our Radar 1. The tax break you can fly. There’s a reason the uber-rich [have private jets](. 2. Shark Tank duty calls. At this demo day, you can hear ten-minute pitches from the CEOs of [five influential young companies](.* 3. 27,000 feet beneath the waves. Scientists discovered [the world’s deepest fish](. 4. Spilling the tea. Gossip – good and bad – can make a [huge difference]( to your career. 5. Bronze Age ravers. Ancient folk used to take [hallucinogens]( near Ibiza too. When you support our sponsors, you support us. Thanks for that. ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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