💰 Maniac Minute: Musk Hits $400B, Americans Add $4.8T

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Good morning, Maniacs!

December’s anything but sleepy. The Dow’s stuck in a losing streak, but the Nasdaq soared past 20,000 before hitting pause. Musk’s net worth topped $400B, and Americans are wealthier than ever—fueled by record ETF inflows. Meanwhile, gas prices continue their steady decline, and a Fed rate cut this Wednesday feels all but guaranteed.

Plenty to unpack—let’s dive in!

Market Recap 📈

It was a week of contrasts. The S&P 500 and Dow took a hit, with the blue-chip index logging its seventh-straight daily decline—its worst streak since February 2020. The S&P 500 also snapped a three-week winning run.

In contrast, the Nasdaq soared to a fresh milestone, clearing 20,000 for the first time, driven by all-time highs from most of the Magnificent Seven.

A late-week inflation jolt, however, tapped the brakes on the Big Tech rally and shifted attention to this week’s Fed meeting. Markets expect a quarter-point cut on Wednesday, followed by just two more in 2025.

Outside of tech, a slow but steady selloff plagues most stocks, with more losers than winners in the S&P 500 for 10 straight sessions—a record going back to 2000.

Still, equities helped propel household net worth to a new high, with Americans enjoying a $4.8 trillion boost last quarter!

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Winners & Losers 🚀

This week brought big moves across the board, from chip giants cashing in on AI to Hollywood studios shaking up their playbooks.

Winners

1. Broadcom ($AVGO) – Market Cap: $1.1T (+25.2%)

Broadcom’s AI dreams just turned into cold, hard cash. The chip colossus teased a 65% jump in AI product sales and a $90B target market by 2027, sending the stock up like a SpaceX rocket. With two new mega data-center clients, AI-hungry investors gobbled it up—fueling its biggest rally since 2009.

2. Walgreens Boots Alliance ($WBA) – Market Cap: $9.1B (+21.4%)

Walgreens, once America’s friendly corner pharmacy, has stumbled from $100B glory down to less than $10B. Now, private-equity giant Sycamore might whisk it off the market. Investors cheered this possible takeover, sending the stock flying. After years of navigating margin pressure and pesky online rivals, Walgreens seems ready for a step away from Wall Street’s glare.

3. Warner Bros. Discovery ($WBD) – Market Cap: $29.6B (+13.2%)

Hollywood’s house of many brands reshuffled the deck into two neat piles: old-school cable and next-gen streaming/studios. This reorg could open doors to M&A fun or just streamline a famously tangled empire. Investors loved the fresh start, hoping WBD’s new split personality is less Dr. Jekyll and Mr. Hyde, and more Batman and Superman teaming up to save the sagging share price.

Losers

1. Cava ($CAVA) – Market Cap: $14.5B (-17.8%)

Cava’s meteoric rally hit a speed bump. A co-founder cashed out $9.5M in shares, spooking a market that had celebrated Cava’s Mediterranean zest. With a per store valuation over 50% richer than Chipotle’s, even die-hard fans wondered if the pita’s stuffed too full. The result? Investors took a big bite out of that premium pricing, reminding Cava that unlike gratuity—gravity isn’t optional.

2. Adobe ($ADBE) – Market Cap: $237.5B (-15.8%)

Adobe stumbled this week after issuing a cautious 2025 revenue forecast, sending shares down their steepest drop in over two years. Despite AI-powered Firefly lighting up creative workflows, skeptics worry competitors—like OpenAI’s Sora—might paint Adobe into a corner. This quarter’s earnings beat expectations, but future prospects look hazy.

Turning Market Losses Into Tax Wins 🎯

Let’s zoom in on one of December’s most profitable moves: tax-loss harvesting. Sure, it sounds fancy, but it’s just another way to trim your tax bill and keep more of your hard-earned money.

Now’s the time to get it done before year-end deadlines hit.

How It Works

If you’re holding investments that have lost value, selling them “realizes” the loss. That loss can then offset any capital gains you’ve locked in elsewhere.

No winners this year? Oof, but no sweat. You can use up to $3,000 of those losses against your ordinary income and carry the remainder forward indefinitely.

Avoiding Wash Sales

Don’t let the IRS yank your benefit. A wash sale occurs if you buy a substantially identical investment within 30 days before or after selling at a loss.

The fix: swap into a similar but not identical asset—say, a total market fund instead of that S&P 500 fund—and wait at least 31 days before returning to the original holding.

How To Execute

1. Identify underperformers you’re willing to dump.

2. Decide whether to offset future income or this year’s gains.

3. Find similar stand-ins for the “loser” positions.

4. Sell the losing asset, move the proceeds into that similar investment.

5. If offsetting gains, sell your winners too and repeat the process.

6. After at least 31 days, you can switch back if you still love the original picks.

Who Should Harvest Losses?

• Investors with big gains to offset

• Folks expecting higher income next year who want a clean slate

• Anyone stuck with dud stocks they no longer believe in

It’s that easy! A few thoughtful trades before December 31 could mean a gentler tax bill come April.

Worth The Read 📚

⚽ World Cup’s 2034 Gamble — FIFA awards Saudi Arabia the 2034 World Cup, sparking human rights backlash over labor abuses and accusations of “sportswashing.”

🏴‍☠️ Porch Pirate Prevention — As package theft soars, startups like PorchPals and high-tech gadgets promise peace of mind. But will insurance or $400 lockboxes really keep thieves at bay?

🎮 Fortnite Refund Frenzy — Epic Games agrees to a $72M payout after dark patterns tricked gamers into unintentional charges. Individual refunds are expected to average around $114.

💼 Young Buffett’s Secret Sauce — In his early days, Buffett hunted overlooked bargains and made bold bets. Can this strategy still be replicated in a world with real-time data?

🏈 NFL Sells To Private Equity — Ares Management and Arctos Partners snag stakes in the Dolphins and Bills, marking a historic ownership shift.

⚙️ Steel Deal Showdown — Biden is expected to block Nippon’s $15B U.S. Steel buyout, despite zero security risks from the Pentagon. Is this protectionism or politics?

🏠 The ‘Silver Tsunami’ That Wasn’t — Empty nesters may sell homes in affordable markets, but coastal housing shortages won’t budge. Real affordability depends on new construction, not aging owners.

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The Week Ahead 🔍

Think of this week as the run-up to holiday mode, with the Fed’s almost certain quarter-point rate cut anchoring midweek drama. Core PCE results could validate our festive mood—or cause a quick rethink.

Monday

• Slow day

Tuesday

• November U.S. retail sales (est. 0.5% MoM)

Wednesday

• Earnings from Micron, Lennar, and General Mills

• Fed interest rate decision (est. 4.5%)

• FOMC economic projections

• November housing starts (est. 1.34 million)

Thursday

• Earnings from Nike, Fedex, and Darden Restaurants

• Final Q3 GDP growth rate (est. 2.8%)

• November existing home sales (est. 3.97 million)

Friday

• Earnings from Carnival

• Core PCE index (est. 2.9% annually, 0.2% monthly)

That’s a wrap! See you next Monday with all the market insights and money tips you need to stay ahead.

Keep stacking,
The Money Maniac 💸

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DISCLAIMER: The information provided in this newsletter is for informational purposes only and should not be construed as financial advice or a solicitation to buy or sell any assets. All opinions expressed are those of the author and are subject to change without notice. Please do your own research or consult with a licensed professional before making any investment decisions.