Zero to Hero: August 2024 Portfolio Update and Market News
My public portfolio has taken a hit due to recent market volatility, but I’m not concerned. Even if it drops another 30-50%, I’ll keep buying this index fund every month for the next 20-30 years and continue sharing my journey with all of you. Long-term focus, steady investing—that’s the plan. #buildingwealthfromthegroundup
Now, let’s dive into the key market updates from the past 4 weeks. 👇👇👇
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🛜 The Largest Global IT outage in history.
On the 19th of July 2024, a massive IT outage hit the world. It was unprecedented as no one knew that such an event could happen in today’s advanced technological world.
A faulty update from CrowdStrike caused a massive global outage affecting 8.5 million Windows computers. This impacted many industries like airlines, banks, hospitals, and even government services.
Why did it happen? A bad update to their Falcon Sensor software crashed systems worldwide, leading to disruptions and financial losses estimated at $10 billion!
Despite quickly releasing a fix, many systems needed manual intervention to recover.
For businesses, this highlights the importance of robust backup plans and staying updated on your tech!
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🪙 Big Win for Jack Ma & Philippines’s Zobel de Ayala clan.
Jack Ma’s Ant Group and the Zobel de Ayala family just scored huge wins with Mynt, the company behind the super popular GCash e-wallet.
Mynt’s recent funding round has valued the company at a whopping $5 bil-lion!
With over 90 million users, GCash is a household name in the Philippines, serving about three-quarters of the population.
Ant Group’s stake is now worth at least $1.2 billion, while the Zobel de Ayala family owns 13% of Mynt.
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🍎 Warren Buffett’s Berkshire Hathaway cuts its stake in Apple by nearly 50%. Apple Inc. had been 50% of Warren’s common stock portfolio before he sold half of it.
“We’d love to spend it, but we won’t spend it unless we think we’re doing something that has very little risk and can make us a lot of money,” Buffett said at Berkshire’s 4 May annual meeting, referring to Berkshire’s cash.
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📉 The global stock market fell at the start of last week. Japan had the worst stock market sell-off in history since 1987, shedding a 20% decline in just 2 days. The culprit? The Japanese carry trade.
Yet despite this, a strong rebound ensued afterward, which also helped the global stock market recover after the two-day turmoil.
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🧐 Google was found guilty of monopolistic practices.
Last Monday 05 August 2024 a US federal judge ruled Google has violated antitrust laws, saying the organisation “is a monopolist, and it has acted as one to maintain its monopoly”.
A separate proceeding will be held to determine what penalties Google and its parent company, Alphabet, will face. However, it is likely the tech giant will be hit with both monetary penalties and enforced mitigations aimed at re-ducing its dominance.
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Stay tuned for next month’s market updates, and thank you for being part of this journey. 😁
📣 https://elmads.com/zero-to-hero-portfolio/ — The complete details about The Zero to Hero Public Portfolio
For a more comprehensive story of my investment journey, how investing shaped my thinking and way of living, and why it’s also crucial for your own life, check out my newly written book, where the roots of this portfolio are explored: “Zero to Hero—The Rookie Investor’s Manifesto: Building Your Wealth From the Ground Up Through Stock Market Investing”.
📖 Grab your copy of my book here: https://amzn.to/4a9x5ki
This blog is for informational purposes only and not a Financial Recommendation. Not all information will be accurate. Consult an independent financial professional before making any major financial decisions.
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