Yes, Daddy JPow

Market Snapshot Futures yesterday were under pressure ahead of the FOMC minutes release. BTC, ETH, and Oil were basically where we left them yesterday. The Fed’s previous FOMC minutes were released, and it appears that the market likes Daddy JPow’s sentiments. At the closing bell, the Dow was up 0.60%, the Nasdaq was up 1.51%, and the S&P moved higher by 0.95%. For today’s Banana Brain Teaser, we will unlock our [Foundations Package](=) for 100 bananas off the sticker price for the first 15 correct respondents. Let’s get into it. Banana Bits - It might finally be here; we might finally be doing the [#FreeBrittney]() - Excel, Powerpoint, and Financial Statements are our love language; [check out]() what you can learn with us - The Fed’s recent FOMC meeting minutes were released, and all signs point towards [further rate hikes]() - Bold moves at Davos: Ukraine’s chief digital transformer [warns SAP and Cloudflare](=) to get out of Russia ASAP - From the team at the Peel: our thoughts and prayers go out to the victims and their families of the shooting in Uvalde, TX Banana Brain Teaser The answer to yesterday’s BBT was “the lighter.” For today’s first 15 correct respondents, we will unlock our [WSO Foundations package](=) for 100 bananas off the retail price. Let’s give this one a try: A man brings a thimble to a hotel and tells its owner that he is bankrupt. Why? Shoot us your guesses at [vyomesh@wallstreetoasis.com](mailto:vyomesh@wallstreetoasis.com?subject=Banana%20Brain%20Teaser) with the subject line "Banana Brain Teaser" or simply [click here to reply!](mailto:vyomesh@wallstreetoasis.com?subject=Banana%20Brain%20Teaser) Macro Monkey Says How High Will We Go? — Going into the release of FOMC minutes during a tightening cycle is an interesting experience. Some of you have never experienced a tightening cycle, so I’d encourage you to pay attention to the news from the various sources as well as read the guidance from the committee and Daddy JPow directly. While the macro underpinnings of no two economic cycles are the same, there are some underlying similarities that might prep you for the next one. There are a few big questions lingering right now: - How high will rates go? - Is the Fed serious enough about inflation to stamp it out? - Will all of this tightness plunge the economy into recession? Bill Ackman’s latest rant on Twitter signaled his opinion. He thinks that the Fed isn’t serious enough about inflation and that rates aren’t rising fast enough to tamper out its effects. Others have called for a full 100 bps (not pronounced “beeps,” weirdos) at every meeting until inflation is near the Fed’s target. The minutes released yesterday echoed the recent comments by Fed officials: a hawkish Fed is willing to squeeze and squeeze hard to squash inflation. Monetary policymakers feel the need to continue down the path of 50 bps rate hikes, predicting such a move at several subsequent FOMC meetings. These policy bigwigs also predict that they might need to raise rates beyond the expectations of the financial markets, broadly speaking. This type of policy move might need to move beyond a neutral stance… something that could end up restricting growth. Last month’s 50 bps rate hike was the largest in 22 years, but we’re also dealing with inflation that is higher than we have seen in the last 40 years. Let’s just hope that an aggressive Fed doesn’t mean there’s a noose around our portfolios’ necks. Good luck, Apes. Build your Foundation [image](=) Certain skills are indispensable in Finance. Financial statements are the backbone of fundamental analysis, and Excel and PowerPoint are their love languages. If you want to be successful in this world, knowing the ins and outs of these three foundational topics will make you dangerous in any shop, from boutique to BB. Dive into more than 100 lessons put together by experienced finance professionals that will help you sharpen the skills you need to [build your finance foundation](=). What's Ripe Nordstrom ($JWN) — Alright, here’s a bit of an outlier. Nordstrom’s guidance stated that the consumer wasn’t yet affected by inflation and that they still wanted fancy clothes to wear to fancy events. They had a good quarter, and they posted a beat and raise for the remainder of their fiscal year. $JWN was up almost 10% pre-market and ended the day up 14.02%. Best Buy ($BBY) — After trading lower during pre-market hours, your favorite electronics retailer from your childhood (probably, IDK) ended the day riding high. At the closing bell, shares of $BBY were up 8.97%. Best Buy beat expectations for both top and bottom line estimates, sending shares ripping during yesterday’s session. Even in a quarter where revenue declined, they still topped what Wall Street was predicting. Their leadership thinks that softer demand is here to stay for a while, but they’re not taking their foot off the gas. They expect to continue selling electronics merch that is central to our lives in the digital age. What's Rotten Procter & Gamble ($PG) — Every once in a while, we at the Peel like to cover a boring name or two. Today is one of those days. The maker of your toothpaste was the biggest loser in the Dow yesterday, slipping 1.64%. A value name that still delivers some decent yield, the tide pod distributor is actually not having a terrible year. This cat is only down about 11% for the calendar year, but their poor performance kept the Dow from ripping yesterday. Agilent ($A) — Yesterday, Agilent Technologies was a top decliner in the S&P. They ended the day down 3.24% and continued to trade lower after hours. They reported earnings on the 24th, which were a bit of a bust. You’d think that the analytical instrumentation business would be booming as the whole world tries to go digital, but what the hell do I know? Thought Banana The Next-Gen Office Experience — While those in IB have experienced a strong push to return to the office this calendar year, other industries are still trapped in a hybrid no man’s land in between strictly WFH lockdown style and in-person work a la 2019. Some of you have returned to the office; some of you have not. Some of us have returned to the office for important meetings only to return to the WFH lifestyle for the day-to-day grind. This wonky hybrid model isn’t great, and it’s especially not awesome for our mental health or our routines. Another drawback is the lack of interactions with mentors and peers when these interactions ultimately shape our development as professionals. We’ve all had a bad boss or two in the past. Sometimes we wish we didn’t have to see or deal with them. Period. That being said, often, the worst leaders inspire us the most. They provide shining examples… of what not to do. It’s hard to see these examples when no one is ever around. There are hundreds of leadership books that are now OBE. Leadership through personal interaction? Getting to know your team beyond their names and roles? I’m sorry: a zoom happy hour seemed fun in April of 2020. But it is not an effective form of leadership or social interaction amongst coworkers. Another laughable tendency in today’s office culture: an in-office team dialing into a Teams meeting instead of reserving a conference room. Like, c’mon - we are either that lazy, or we hate each other that much. Regardless of your role, how we interact with and treat each other is inherently different for many of us in today’s working world. The only question is: are things any better? Wise Investor Says “The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.” — Daddy JPow Happy Investing, Patrick & The Daily Peel Team Was this email forwarded to you? Sign up for the WSO Daily Peel [here](. 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