September 4, 2024

The Appetizer

“There’s a lot of situations where I’ve been in that’s a lot crazier than a couple of people walking with drinks back to their seat.”

• 2023 U.S. Open semifinalist Ben Shelton on the new U.S. Open rules that will allow fans to return to their seats even during play.

Now, on to the numbers. Drum roll, please …

• 4,400: The number of athletes competing in the Paris 2024 Paralympic Games that started last week.
• $24.12 million: The auction sale price of Babe Ruth’s famous “called shot” jersey, making it the most expensive piece of sports memorabilia in history.
• 55%: The increase in sick leave in the U.S. from 2019 to 2023. Employees younger than 36 saw the biggest increase, up 29% during that time period.
• 3: The number of vehicles in L.L. Bean’s Bootmobile U.S. fleet. Yes, the car does look like the company’s iconic Maine Hunting Shoe.
• 30%: The increase in IRA contributions from Gen X savers compared to a year ago, with current contributions the highest they’ve been in the last five years, according to Fidelity Investments.

Dig In
Equity in the End Zone

It’s that time again – fantasy football is back in full swing! Meanwhile, the NFL is making headlines for a different reason. Recently, team owners voted to allow private equity firms to purchase up to 10% of a team. The details? A minimum stake of 3%, a cap of six teams per firm, and a mandatory holding period of six years. Oh, and the entry fee? $2 billion!

Fun fact: The NFL is actually late to this party, as the NBA, MLB, NHL, and NWSL have already welcomed private equity investment into their ranks. This new opportunity can be a valuable source of capital for these teams, including funding for renovating or building stadiums, an investment that is becoming increasingly difficult to obtain.

Back to the fun stuff, this season could be the biggest yet for fantasy football. A recent survey revealed it is booming, with 22% of participants being new to the game, 50% being women, and 18% representing Gen Z. Could this be from the Taylor Swift effect? Apparently, as 37% of respondents rate “drafting players who are dating my favorite celebrities or influencers” as a good or excellent draft strategy. Draw your own conclusions!

Good luck this season, and may the fantasy odds be in your favor!

Weekly Specials

The Starliner astronauts, originally booked for 10 days in space, now look set to extend their stay until February 2025. Don’t worry! They’re hanging out with fellow astronauts at the International Space Station and have plenty of supplies.

Aussies now have the legal right to ignore phone calls, texts, and even e-mails during unreasonable work hours, thanks to a new law that took effect last week. Fines for noncompliance can go up to $63,000. “Just as people don’t get paid 24 hours a day, they don’t have to work for 24 hours a day,” says the Prime Minister.

Danny Jenson made MLB history last week by playing for two teams in the same game after playing for the Toronto Blue Jays in a game suspended due to rain on June 26, and then being traded to the Red Sox (the opposing team) before the makeup date of August 26. “I was surprised when I found out I was the first one to do it,” he said. It’s pretty cool to be the first person to win a single game under those circumstances!

Who needs the consumer sentiment index when we can just track sausage sales? We’re kidding, BUT an uptick in sausage demand can be the latest sign of consumers tightening their belts as they continue grappling with high prices.

Corporate Lunch

Remember how well Nvidia performed last year? Well, they are doing twice as well now after reporting 122% revenue growth and 168% net income growth versus a year ago.

Lego made some gold bricks, reporting a 13% jump in revenue for the first half of 2024, boosted by Lego x Fortnite crossovers. Finally, I can build something other than a 1x3 tower in Fortnite.

Pizza Hut just rolled out a pizza box that folds into a table. This is the best innovation in takeout since the bread bowl, and college students everywhere are rejoicing. Who needs reusable dishes or furniture?

Taylor Swift’s boyfriend, just kidding … Three-time champion, nine-time Pro Bowler, and seven-time All-Pro tight end, Travis Kelce, signed a $100 million podcast deal alongside his brother, one-time champion, seven-time Pro Bowler, and six-time All-Pro center Jason Kelce. I’m out of breath.

Bloomin’ Brands, the parent company of restaurants including Outback Steakhouse and Bonefish Grill, hired Delta Air Lines Chief Operating Officer Michael Spanos as CEO. Will they simplify the menu to just beef or pasta is what I want to know.

X isn’t scared of anybody apparently and plans to compete with Zoom, Google Meet, and Microsoft Teams with video conferencing. Just a friendly suggestion: Maybe clean up the algorithm before encouraging people to open X on a work computer.

Diversification does not ensure a profit or protect against loss.

Indices are unmanaged and are not available for direct investment.

Past performance is not indicative of future results.