Cramer's First Hour, Part 2 -- October 7, 2024

Locator: 48521CRAMER.

Black Friday: wasn't that an October event?

Pre-market:

Motley Fool: AVGO, NVDA, SMCI (Super Micro Computer). Link here. 

RIVN: on track to drop again today. 

Ford: this is the problem -- UK mandates percent of overall fleet to be emission-free. Only way Ford in UK is going to meet that goal is to cut production of ICE vehicles -- high margins, high value, high demand. Link here. EVs: low demand, high production cost, low margins -- in fact, often selling at a loss.

Robby Starbuck: link here. No doubt the Bud debacle has spooked Toyota, others. Robby Starbuck here at wiki. Toyota ends "woke-policies; will concentrate on STEM.

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HENRY

HENRY: high earners, not rich yet. Link at The WSJ. Somehow I have trouble relating. The lede:

Fifteen years ago if you’d told April Little that she’d make $300,000 a year, she would have pictured a life free of financial stress. 

“The white picket fence—I have the whole visual in my head,” says Little, 38 years old, a human-resources executive turned career coach in Rochester, N.Y. “I don’t want to sound ungrateful, but when I got to that proverbial mountaintop I realized there’s a lot of expenses. And I still don’t own a home.”

So go the plush-but-not-too-plush lives of the Americans who qualify as HENRY—high earner, not rich yet. 

Another:

Monique So, a 40-year-old financial consultant, says she and her husband, a software engineer, have a net worth in the mid-seven figures. But she likely won’t breathe easy until, or if, they accumulate an eight-figure net worth. Daycare for their 2-year-old takes a $30,000 bite out of their family budget. 

[That begs the question: how do they budget for a college education?]

Common theme:

• high cost state -- taxes, commuting, daycare
  
• private elementary school for two to three children
• daycare -- incredibly expensive
• luxury car for each
  
• high net worth but cash poor
• living beyond their means

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Disclaimer
Brief Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.