Latest issue of Empire Elite Growth; A 'Code Red for Humanity'; Climate change and ESG; Survey; The Man Who Lost $20 Billion in Two Days; Trillion-Dollar Club; Shopify and Nvidia to join it; NFT project that sells tulip bulbs

1) Today, after market close, my colleague Enrique Abeyta is publishing the latest issue of his Empire Elite Growth newsletter...

This month, he's recommending putting money to work in the world's leading augmented reality ("AR") and virtual reality ("VR") company. This business originated in gaming... but today, its growth story is so much more than that – as Enrique says, it can unify the digital world and the real world.

And with the stock trading well off its peak – but up a good bit from its initial public offering ("IPO") – it gives investors a perfect entry point in a great growth story. If you aren't already a subscriber to Empire Elite Growth, click here to learn how to gain risk-free access to the new issue when it publishes later today.

2) On Monday, my colleague Berna Barshay wrote a fascinating Empire Financial Daily, A 'Code Red for Humanity,' about climate change and ESG (environmental, social, and governance) investing, which is an enormous, rapidly growing area to which every investor should be paying attention. After you read it, please take this brief survey she put together on the topic.

3) In yesterday's e-mail, in the context of warning investors about ARK Invest's Cathie Wood, I wrote:

I've seen again and again (to some extent, it happened to me as well) how making a ton of money and being fawned over by the media can turn the brains of even the most rational, appropriately self-confident investors into total mush – and when this happens, the end result is almost always a train wreck.

Well, here's Exhibit A of what I was talking about: The Man Who Lost $20 Billion in Two Days Is Lying Low in New Jersey. Excerpt:

Hwang is groping for answers of his own. He amassed one of the world's great fortunes in virtual secrecy – and then lost it, very publicly, in a blink. In the easeful heat of this summer morning, he's awaiting a call with a retired U.S. general who, he hopes, might provide some counsel. He's dressed like your average American soccer dad: teal shirt, blue cargo pants, Adidas slides. He has a pad of paper and a pen handy. An 8-ounce plastic bottle of Poland Spring water stands on the white plastic table which, like the chair, could have come from Costco.

At hand, too, is a Christian pamphlet – a testament to the faith that's guided Hwang as he made dangerous bets in the markets and was even charged with insider trading in the past. The title is Armor of God, a reference to Ephesians 6:11 – "Put on the full armor of God, so that you can take your stand against the devil's schemes."

Hwang is relaxed, self-deprecating and reflective in a brief conversation, but declines to discuss the Archegos fiasco or his next steps. He's been lying low here in New Jersey, in this tidy borough of 15,000, beyond The Palisades cliffs that rise above the Hudson River...

This account also hints at a shift in Hwang's strategy that has baffled outsiders. Archegos had grown rapidly by making huge bets on established FAANG stocks – blue-chip U.S. technology companies. But by last year, it was plowing money into risker bets like ViacomCBS and several U.S.-listed Chinese stocks, some of which had been targeted by short sellers.

When the banks began dumping Hwang's portfolio, these shares tumbled.

I saw quite a few parallels between Hwang and Wood – and that's before I read that he seeded four of her funds!

One such investment was the seed money he poured into four of Cathie Wood's exchange traded funds that have exploded in popularity thanks to their market-beating returns.

4) Here's a cool chart from Visual Capitalist:

I agree with Enrique's tweet about this:

5) Speaking of spot-on tweets – LOL!

Best regards,

Whitney

P.S. I welcome your feedback at WTDfeedback@empirefinancialresearch.com.