🤗 Meta's smiling real big

Meta revealed glee-inducing results | China's government gave the country a little help | [Finimize](   TOGETHER WITH   Hi {NAME}, here's what you need to know for October 26th in 3:06 minutes.   🍷 If you don't know your cava from your champagne, you may end up using a winning investment to wash down your Friday night dinner. So join WineChain for [Acquiring A Taste For Rare Wine Investments]( on October 30th, and find out how to put wine to a more lucrative use. [Grab your free ticket]( Today's big stories - Meta provided some relief for nervous tech investors in the form of better-than-expected third-quarter earnings - This quiet Dutch fund house is blaring a loud warning about the economy – [Read Now]( - China’s economy called for the big guns, and the government delivered with baby steps A Laughing Meta [A Laughing Meta] What’s going on here? Meta released better-than-expected third-quarter results late on [Wednesday](, and Zuckerberg won’t be the only one smiling. What does this mean? After many extravagant years, Meta’s cost-cutting was always going to be more drastic than your average American’s budgeting session. But by announcing that this year’s expenses will land between $87 and $89 billion, the tech giant trimmed a couple of billion off its previous projections. That was impressive by itself, but then Meta announced that it made 23% more revenue last quarter than the same time last year – better than analysts expected. A quick mental math equation tells you that profit, then, flew past expectations too, a very welcome relief for investors nursing nerves that’ve been frayed by sagging tech stocks recently. Why should I care? Zooming out: Head in the clouds, feet on the ground. Big Tech investors tend to have their heads in the clouds. Literally: they’re drawn to major companies with successful cloud divisions. But advertising sectors are worth an eyeball or two, as well. Ads still dominate Meta and [Alphabet’s]( revenue streams, plus the amount of money funneling into online ads is a reflection of the overall economy’s health. So with Meta more than doubling Alphabet's 11% bump in advertising revenue, those heady results could be a strong sign that the economy’s gaining strength. For markets: Time to test the mettle. Tech stocks used to follow the market’s movements to extremes, often outperforming others during better days and sinking more than most when the tide turned. But the explosion of software products and services brought along reliable subscription-style revenue streams, which along with bulletproof balance sheets, means investors now view Big Tech as a shelter during even the roughest storms. Major tech companies have yet to test this theory against an all-out recession, of course, but they may get the chance very soon. You might also like: [This is AI’s most underrated opportunity, and the eight stocks at the center of it](. 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=A Laughing Meta&utm_campaign=daily-global-26-10-2023&utm_source=email) Analyst Take Robeco Comes Down From The Mountain Warning About Three Big Risks [Robeco Comes Down From The Mountain Warning About Three Big Risks]( By Russell Burns, Analyst Robeco might be the [most interesting asset manager]( you’ve never heard of. The European investment house is a quiet one – while most of its peers publish updated economic forecasts four times a year, Robeco goes to press just [once every five years](. But when it does put out an update, it’s [a hefty tome]( that makes for some pretty compelling reading. In its most recent outlook, Robeco lists [three major power struggles]( around the world that will impact economies and markets everywhere over the next five years. That’s today’s Insight: [what Robeco sees happening and how you might position for it](. [Read or listen to the Insight here]( SPONSORED BY ORACLE Check out the six leadership traits of successful CFOs The traits of [successful finance leaders]( are constantly evolving. With broader and more diverse responsibilities than ever, and against an ever-changing economic backdrop, today’s CFOs are taking on a more strategic role. They’re driving [technological change, revitalizing HR strategies, and revisiting cybersecurity compliance]( – just to name a few. And if you’re working to make your mark in business, understanding their [strategies, plans, and traits]( could be a game changer. [Download this guide to discover how the best CFOs stay on top](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Small Wonders [Small Wonders] What’s going on here? China’s government announced a package designed to excite its economy on [Wednesday](, but it’s little – very little indeed. What does this mean? The Chinese president recently paid a rare visit to the country’s central bank – the knee-shaking equivalent of your boss scheduling an impromptu one-on-one meeting without warning. That’s a sign that the country’s leader is far from content with the state of the economy, and it may well have spurred on the government’s decision to increase its spending. Now that decision’s been made, China’s borrowing – the gap between what the country makes in taxes and spends – could tick above the 3% limit that the thrifty government has historically hovered around. Why should I care? For markets: Slow and steady might win the race. That fresh stimulus spending doesn’t even match 1% of the Chinese economy. But China’s a dab hand at making the most of small steps: rather than bringing out a big bazooka, the country’s stuck to a little-and-often approach to tackle its economic slowdown. And with the country picking up more than expected last quarter, this tortoise may be inching ahead in the marathon – even if it fell short on the sprint. The bigger picture: China needs to watch its credit score. China’s careful approach to budgeting is clear in its books: the country's debt is worth around 80% of its economy. That’s not insignificant, but compared to Japan’s 260% and the US’s 120% it’s pretty paltry. And in Europe, big spenders Italy, Greece, and Portugal have racked up debt piles worth between 120% and 170% of their economies, while some Scandinavian and Eastern European countries have kept theirs below 40%. That matters: a country’s debt levels can lead to higher interest rates, which can lead to higher debt, and so the pattern repeats. You might also like: [Currency traders have a new favorite play](. 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=Small Wonders&utm_campaign=daily-global-26-10-2023&utm_source=email) 🤝 Partner with us Finimize is much more than just this newsletter: we’re a full-blown [one-stop shop]( for engaging with [modern investors](. So whether you’re a fintech, founder, or just a fed-up exec, rest assured – we’ve got [the solutions]( you need. [Book A Demo]( 💬 Quote of the day "I personally think we developed language because of our deep need to complain." – Lily Tomlin (an American actress, comedian, and writer) [Tweet this]( SPONSORED BY STARTENGINE You can invest in the future of crowdfunding The world of startup investing – a potentially $10 trillion market – is hard to access. You typically need the right connections, expert know-how, and a lot of cash. Well, unless you check out [StartEngine](: one of the US’s first platforms specifically designed for online startup crowdfunding. Led by Activision co-founder Howard Marks with strategic advisor Kevin O’Leary, the platform lets a community of nearly two million* [access typically exclusive private companies](. And get this: StartEngine just secured a spot on Inc. Magazine’s [5,000 fastest-growing US private companies list]( for the second year in a row for 2022 and 2023***. You can now invest in StartEngine itself, but you’ll need to move fast: [StartEngine’s current funding round closes on November 15th](. [Find Out More]( Reg A+ offering made available through StartEngine Crowdfunding, Inc. No broker-dealer or intermediary involved in offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Please see the most recent [supplement](, [offering circular](, and [selected risks](. *Kevin O’Leary is a paid spokesperson for StartEngine. See his 17(b) disclosure, [(. **StartEngine Community: Count of 1.8 million is determined as the number of unique email addresses in StartEngine’s database as of 10-6-2023. ***As measured by revenue growth over a three-year period. [Inc 5000 source](. When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar 1. At least dystopia is stylish. Ray Ban’s nailing [futuristic eyewear](. 2. You need a lot of time and knowledge to be a value investor. Well, unless you have a [digital assistant to do the heavy lifting for you](.* 3. Millennials have issues. This [serious one]( could be the scariest. 4. Size-up the opportunities. You can [trace the world’s biggest stock indexes]( without paying mammoth prices.* 5. Kendall Jenner has never tried her own tequila. Either that, or [Meta’s in trouble](. 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