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đ I Did Not Meme It
BMO fired six junior bankers for sending memes over the company's messaging server, plus U.S. suing to block the $25B Kroger-Albertson merger.
Together With
âAmateurs have a goal. Professionals have a system.â â Shane Parrish
Good Morning! Amazon joined the Dow, giving the 127-year-old index a much-needed upgrade. The FTC wants to block the $25 billion Kroger-Albertsons supermarket deal, saying it would raise grocery prices for millions of Americans. Apolloâs Marc Rowan thinks AI is an even worse bubble than the dotcom era. And stock buybacks keep rising this earnings season. Plus 5 time management strategies, and 10 leadership lessons from successful CEOs.
We're excited to announce a significant upgrade to our Short Squeez Insiders Membership. The goal is to provide the tools you need to excel in all facets of your life. Check it out here.
SQUEEZ OF THE DAY
I Did Not Meme It
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If youâve been treating your Microsoft Teams chat like your group chat - consider this your warning.
Last month, the Bank of Montreal (BMO) dropped the hammer on six junior bankers in its metals and mining group. Apparently, the analysts and associates got caught sending crude jokes and obscene memes. (whomst MBA associate snitched?)
The obscene meme that dug the nail on the coffin? The "Woodâ meme that went viral during the pandemic. Following an internal investigation, HR also found the use of homophobic language, and thought the group chat crossed the line. As a result? Six analysts and associates got fired.
The metals and mining group is based in Toronto and is known to be one of the sweatiest groups on Wall Street. Analysts routinely work 100+ hour weeks. The group is known for a work-hard, play-hard culture, and group chats like the one uncovered arenât uncommon at all.
The group got disciplined for a similar issue last year, and some think that one of the higher-ups should have also been fired for letting the behavior go on for so long.
Takeaway: If youâre gonna send a risquĂ© text to your coworkers, you might want to take it offline rather than sending it through your companyâs server. BMO prides itself in training its bankers to be nice to each other - the firm required its employees to attend a workshop about how itâs offensive to ask a young person for tech support. But in all seriousness, be careful what you send over company email or messaging - nobodyâs made their career sending that fire meme, but plenty of bankers have already ruined theirs.
NEW SHORT SQUEEZ INSIDERS
Introducing the New Short Squeez Insiders
We're excited to introduce the latest evolution of our Insiders Membership, which comes with a special offer: a 14-Day Free Trial for you to experience our upgraded services first-hand.
Our NEW membership aims to support the multi-faceted lives of young professionals like you.
Balancing career ambitions with personal growth and outside-the-cubicle activities can be overwhelming. That's where our Insiders Membership steps in, helping you level up your life across the board.
Whatâs New?
Investing Newsletter featuring a markets recap that will keep you abreast of the most important trends in equities, real estate, and economic data, all with an entertaining spin.
Knowledge Newsletter curating top research, podcasts, articles and links that will hit your inbox Sunday mornings.
Wellness Newsletter where we delve into the ways you can optimize your physical and mental well-being, even with a busy work schedule.
Career Newsletter including interviews with industry veterans, job opportunities, recruiting guides, and exclusive updates on comp and other Wall Street trends.
And here are a few bonus features youâll want to check out:
Portfolios of professional investors (Ackman, Buffett, Burry etc.) that you can find on our revamped website.
Books - full list of over 600+ books we have recommended over the last 3 years.
Courses including our private equity course, complimentary with your membership.
We're so confident you'll love our new Insiders Membership that we're inviting you to try it out with a 14-Day FREE Trial.
HEADLINES
Top Reads
Amazon joins the Dow, giving the index a needed upgrade (CNBC)
Stephen Ross wants to cash in on Dolphins after team's value surges (YF)
The winners and losers in the bitcoin ETF world, one month in (Axios)
Investors flock back to biotech after a long cold spell (WSJ)
US FTC suing to block $25 billion Kroger-Albertsons supermarket deal (YF)
The hard questions raised by the ZIRP era (Axios)
Stock buybacks are rising this earnings season (YF)
Why widespread tech layoffs keep happening despite a strong U.S. economy (CNBC)
Apolloâs Marc Rowan calls AI a âbubbleâ worse than even the dotcom era (Fortune)
Goldman Sachs and Abu Dhabi's Mubadala ink $1 billion partnership (CNBC)
CAPITAL PULSE
Markets Rundown
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/786c49bc-bd39-438c-bc0d-e09a0a2da03e/master_index.pptx__42_.png?t=1708981491)
Stocks took a breather after reaching a fresh record on Friday.
Movers & Shakers
(+) R1 RCM ($RCM) +25% after New Mountainâs takeover offer for the health care company.
(+) Dominoâs Pizza ($DPZ) +6% after the pizza delivery announced a 25% dividend increase.
(â) Alcoa ($AA) -4% after the company announced an acquisition of its Australian joint venture partner Alumina.
Private Dealmaking
Chipmaker Broadcom sold its remote-access unit to KKR for $4 billion
Thomas H. Lee Partners bought Agiliti, a healthcare tech management, for $2.5 billion
Alcoa bought Alumina, an aluminum maker for $2.2 billion
Pacific Avenue Capital Partners bought Sogefiâs air filtration unit for $406 million
Abridge, a clinical documentation startup, raised $150 million
Napier AI, a financial crime software provider, raised $57 million
For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.
BOOK OF THE DAY
Altered Traits
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In the last twenty years, meditation and mindfulness have gone from being kind of cool to becoming an omnipresent Band-Aid for fixing everything from your weight to your relationship to your achievement level.
Unveiling here the kind of cutting-edge research that has made them giants in their fields, Daniel Goleman and Richard Davidson show us the truth about what meditation can really do for us, as well as exactly how to get the most out of it.
Sweeping away common misconceptions and neuromythology to open readersâ eyes to the ways data has been distorted to sell mind-training methods, the authors demonstrate that beyond the pleasant states mental exercises can produce, the real payoffs are the lasting personality traits that can result.
But short daily doses will not get us to the highest level of lasting positive changeâeven if we continue for yearsâwithout specific additions. More than sheer hours, we need smart practice, including crucial ingredients such as targeted feedback from a master teacher and a more spacious, less attached view of the self, all of which are missing in widespread versions of mind training.
The authors also reveal the latest data from Davidsonâs own lab that point to a new methodology for developing a broader array of mind-training methods with larger implications for how we can derive the greatest benefits from the practice.
"This is a book that really can change your life.â
DAILY VISUAL
Taylor Swift Retains Crown of World's No. 1 Recording Artist
Based on global streaming volume, downloads and physical format sales
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Source: Statista
PRESENTED BY JURNY
Your Next AI Opportunity Is Here
With Google Bard, ChatGPT and the like sculpting the future of nearly every industry, VCs are betting big, pumping billions into AI startups with huge potential growth.
But profiting from the AI wave isnât just for major playersâsavvy investors can take advantage, too.
Jurny and its AI-powered platform is streamlining hotel and short-term rental operations, targeting over $1 trillion in inefficiencies.
With customers already reporting improvements upwards of 80%, are we surprised Jurny has the backing of leading investors Mucker Capital, Okapi Venture, and others?
Over $12 million in capital has already poured in, but thereâs still time to jump aboard.
DAILY ACUMEN
Consistent Progress
The principle of consistent progress is a powerful testament to the compounding nature of small, daily efforts. When we dedicate ourselves to making even the slightest progress on our most crucial goals each day, these efforts accumulate over time, leading to significant achievements that might seem impossible at first glance.
On the contrary, inconsistent progress, characterized by sporadic bursts of effort followed by periods of stagnation, often deceives us into thinking we are moving forward when, in reality, we are merely oscillating around the starting point. This inconsistency undermines our potential for growth and achievement, leaving us far from our objectives.
The key to unlocking our full potential lies in the discipline of making a little progress every day on what matters most. By committing to this practice, we ensure that each day builds upon the last, creating a powerful momentum that propels us toward our goals. This approach not only maximizes our productivity but also instills a sense of accomplishment and confidence, reinforcing our commitment to continuous improvement.
Therefore, focus on making incremental progress today, and then, with unwavering commitment, repeat the process tomorrow. This cycle of consistent effort is not just a strategy for success; it's a blueprint for achieving excellence in any endeavor.
ENLIGHTENMENT
Short Squeez Picks
How to develop emotional intelligence as a leader
3 red flags to spot toxic work cultures when interviewing
5 of the best time management strategies
Does giving make you happier?
10 leadership lessons from successful CEOs
MEME-A-PALOOZA
Memes of the Day
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