The $100+ Billion Price for Living in Paradise

Hurricanes take a staggering financial toll on Florida. Published By Money & Markets, LLC. October 14, 2024 Published By Money & Markets, LLC. October 14, 2024 [Turn Your Images On] [Turn Your Images On] From The Desk of [Matt Clark, CMSA®]( Chief Research Analyst, [Money & Markets Daily]( Money & Markets Daily: The 5 Money & Markets Daily, It’s time to get on the fast track to stock profits — with the 5 things you need to make money this week … in just 5 minutes. Let’s get started! The $100+ Billion Price for Living in Paradise In 2022, Florida had the highest net migration of any state in the country… adding more than 200,000 new residents. That’s 547 new people moving to the Sunshine State every day. But some of those new residents may now be regretting the move. Hurricanes Helene and Milton recently made landfall in the Sunshine State, wreaking havoc along the state’s Gulf Coast – ironically, where most of those 200,000 new residents moved to. Milton made landfall last Wednesday with devastating effects. Fitch Ratings estimates the insured losses from Hurricane Milton will be between $30 billion and $50 billion, while S&P Global Ratings said economic and insured losses could match that of Hurricane Ian in 2022. These massive storms could put additional pressure on already skyrocketing homeowner insurance prices in the state. [Turn Your Images On] The Insurance Information Institute said homeowner’s insurance in Florida has increased 102% in the last three years and is already three times higher than the national average. Hurricane Milton alone could result in a $60 billion loss for insurers – a loss that could be handed down to homeowners already hit hard by rising costs. This year’s hurricane season could easily cost the state over $100 billion in damages. But that still pales in comparison to the 2017 season’s staggering $294 billion total. Bitcoin’s “Uptober” Breakout (Next Stop $70k?) Over the last year, bitcoin’s price has more than doubled — thanks in large part to a raft of new spot market ETFs that vastly increased crypto accessibility for traditional investors. At the moment, the world’s leading crypto is right on the verge of breaking through $65,000 on the way to a new all-time high over $73,000. But despite bitcoin’s latest success, we still haven’t seen a surge of interest in new altcoins. But according to Ian King, that’s all about to change… --------------------------------------------------------------- [Turn Your Images On]( From our Partners at Banyan Hill Publishing. ["Crypto King:” Buy These 3 “Alt” Coins Now!]( In late 2020, Ian King urged his readers to take advantage of a rare altcoin eruption event with the chance to experience gains as high as a potentially life-changing 18,325% over the next 12 months. Today, Ian is releasing a [new, surprise prediction](. He says 3 specific “alt” coins will ride Bitcoin’s final bull run and the potential gains could be spectacular… [Click here to see everything you need to do HERE now.]( --------------------------------------------------------------- Financial Stocks Start Earnings Season Strong The quarterly earnings season kicked off Friday with a bang as some of the largest financial institutions blew the doors off expectations. Blackrock Finance Inc. (NYSE: BLK) led off by beating earnings by more than $1 per share and reporting profits of $1.7 billion. It also reported a quarterly record for net inflows of $221 billion. Blackrock now has a record $11.5 billion in assets under management. Wells Fargo & Co. (NYSE: WFC), Bank of New York Mellon (NYSE: BK) and JPMorgan Chase (NYSE: JPM) also reported – both beating expectations for earnings. The news sent financial stocks higher, along with the prospect of higher gains this week. Financial ETF Reaches 6-Month High [Turn Your Images On] The Financial Select Sector SPDR Fund (NYSE: XLF) posted a 6-month high in midday trading Friday. What to Watch This Week: The earnings season gets into full swing with more financials reporting on Tuesday: - Bank of America (BAC). - Goldman Sachs (GS). - Citigroup (C) - Charles Schwab (SCHW). Morgan Stanley (MS), U.S. Bancorp (USB) and Discover (DFS) will report earnings on Wednesday. Elon’s Robotaxi Party Costs Tesla $40 Billion It was supposed to be a big deal… Turns out, it wasn’t. Late last week, Tesla Inc. (Nasdaq: TSLA) owner Elon Musk held an event to tout the company’s new robotaxi – a move aimed at justifying Tesla’s $760 billion market valuation. Wall Street, however, saw way more show than substance during the event as premarket trading on Friday saw Tesla shares shave about $40 billion off that valuation: Tesla Shares Disappoint After Robotaxi Event [Turn Your Images On] The event revealed a two-seat vehicle without a steering wheel or pedals. The only real detail Musk provided was that the new “Cybercab” would go into production sometime in 2026 and sell for around $30,000. However, the event left big questions unanswered: - How will Tesla shave production costs to deploy a vehicle with that low of a price point? - How will Tesla develop the functionality of a car that drives itself without human interaction to a level where risk-averse investors are satisfied? Wall Street’s reaction to the event illustrated how investors and analysts were more disappointed in the event than dazzled. --------------------------------------------------------------- [Turn Your Images On]( From our Partners at Paradigm Press. [How To Profit From Starlink’s $180 Billion IPO Jackpot?]( Have you heard the big news? [Elon Musk’s company Starlink is preparing to announce their IPO in as little as a few weeks!]( According to Quartz, “Elon Musk’s Starlink IPO may lift off as soon as [2024.]” And for the first time ever, you have the rare chance to see how to profit BEFORE the IPO takes place. [Click here now for the time-sensitive details.]( --------------------------------------------------------------- China Investing = Hot-Button Issue? China’s stock market is finally heating back up after years of post-Covid doldrums. But despite the potential opportunity, some investors have already committed to sitting this one out. Specifically, one paid-up subscriber to Adam O’Dell’s 10X Stocks writes: I will not buy any Chinese stock. I have made it a point not to buy anything made in China since visiting Tibet a number of years ago- seeing how the Chinese are destroying the Tibetan culture and mistreating the Tibetans. It’s difficult to avoid buying made in China stuff, but it is doable 99% of the time. I also consider them our enemy, so I will not support them in any way. As an aside, there are some petroleum sellers who will not sell products to Chinese buyers because of the way they handle themselves. Marga D. Thanks for your feedback, Marga. And good on you for sticking to your guns. Investors often chase profits without thinking twice, which can lead to investments you either don’t want or don’t understand, which in turn leads to losses. When you stick to investing in what you know and what you like, you can weather the storm more easily. As far as his 10X Stocks strategy specifically, Adam adds, “I'm focused more on opportunities than borders. And you'll frequently find some of the market's best opportunities in its most controversial or embattled segments. Whether you take action on my recommendations is up to you.” What do YOU think? Have you ever invested in Chinese stocks? Will you invest there in the future? Share your thoughts via email at Feedback@MoneyandMarkets.com. [Matt Clark, CMSA®]( Chief Research Analyst, [Money & Markets Daily]( --------------------------------------------------------------- Check Out More From Money & Markets Daily: - [DON’T EXPECT A Q4 BREAKOUT FROM THIS AI UPSTART]( - [MOMENTUM INVESTING (AKA “WHY WINNERS KEEP WINNING”)]( - [INVESTING SYSTEMS BEAT SHORTCUTS IN THE LONG RUN]( --------------------------------------------------------------- [Turn Your Images On]( Privacy Policy The Money & Markets, 702 Cathedral Street, Baltimore, MD 21201. To ensure that you receive future issues of Money & Markets, please add info@mb.moneyandmarkets.com to your address book or [whitelist]( within your spam settings. For customer service questions or issues, please contact us for assistance. The mailbox associated with this email address is not monitored, so please do not reply. 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To ensure that you receive future issues of Money & Markets, please add info@mb.moneyandmarkets.com to your address book or [whitelist]( within your spam settings. For customer service questions or issues, please contact us for assistance. The mailbox associated with this email address is not monitored, so please do not reply. Your feedback is very important to us so if you would like to contact us with a question or comment, please click here: [( Legal Notice: This work is based on what we've learned as financial journalists. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed to address your particular investment situation. Our track record is based on hypothetical results and may not reflect the same results as actual trades. Likewise, past performance is no guarantee of future returns. Certain investments carry large potential rewards but also large potential risk. Don't trade in these markets with money you can't afford to lose. Money & Markets permits editors of a publication to recommend a security to subscribers that they own themselves. However, in no circumstance may an editor sell a security before our subscribers have a fair opportunity to exit. Any exit after a buy recommendation is made and prior to issuing a sell notification is forbidden. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. (c) 2024 Money & Markets, LLC. All Rights Reserved. Protected by copyright laws of the United States and treaties. This Newsletter may only be used pursuant to the subscription agreement. 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