The 8th Wonder of the World
Photo by NeONBRAND / Unsplash

The 8th Wonder of the World

And, a Covid outbreak on a cruise.

Steven Lerner
Steven Lerner

Today is Monday, December 20, 2021.

8th Wonder of the World is Compound Interest, Says Wealth Advisor

Compound interest is the eighth wonder of the world and young people need to invest as early as possible, says Mitlin Financial founder and wealth advisor Larry Sprung in a new episode of the Early Bird podcast.

Financial Literacy: It is important to be financially literate because it can help you invest earlier, Sprung said.

Gambling: Investing in meme stocks is similar to gambling, according to Sprung, and it is better to have a diversified portfolio.

Never Down: New investors may not be accustomed to the perils of a down market because we have not experienced one in years, Sprung says.

Final Thoughts: Why does Sprung usually favor exchange-traded funds (ETFs) over individual stocks? Find out by listening to the new episode of the Early Bird podcast.


Notable Earnings Today: Nike (NYSE: NKE), Micron Technology (Nasdaq: MU), Blade Air Mobility (Nasdaq: BLDE), Calavo (Nasdaq: CVGW).

Notable IPOs Today: Project Energy Reimagined Acquisition Corp. Class A Ordinary Share (Nasdaq: PEGR), Focus Impact Acquisition Corp. Class A Common Stock (Nasdaq: FIAC), Perception Capital Corp. II Class A Ordinary Shares (Nasdaq: PCCT), Seaport Calibre Materials Acquisition Corp. Class A Common Stock (Nasdaq: SCMA), Arbor Rapha Capital Bioholdings Corp. I Class A Common Stock (Nasdaq: ARCK), NorthView Acquisition Corporation Unit (Nasdaq: NVACU), OPY Acquisition Corp. I Class A Common Stock (Nasdaq: OHAA).

Notable Equity Crowdfunding Campaigns Ending Today: Espre Technologies (StartEngine), Dallas Cityfund (Republic), Miami Cityfund (Republic), Colorado Sake (StartEngine), Agora (Wefunder), Hitch Hotel Inc (StartEngine).

Notable Economic Events Today: U.S. Leading Index (10:00 a.m. ET).

Covid Outbreak on Royal Caribbean Cruise Infects 48 People

Photo by Stephanie Klepacki / Unsplash

Over the weekend, four dozen passengers and crew members tested positive for Covid-19 on a Royal Caribbean (NYSE: RCL) cruise ship.

Details: There were over 6,000 passengers aboard the 7-day Symphony of the Seas Cruise that began and ended in Miami. 95% of all passengers were vaccinated, including 98% of the people who tested positive for Covid-19. All passengers age 12 and older had to be vaccinated.

Background: The pandemic has taken its toll on the cruise industry. While sailings are back, there are fears that the Omicron variant could force another shutdown in the industry.

Numbers: Shares of Royal Caribbean are up 2.39% this year, but down 17.15% in the last six months. The stock has not recovered to pre-pandemic levels.

Final Thoughts: Last month, Royal Caribbean also announced that CFO Jason Liberty will be taking over the CEO role from Richard Fain in January.

China’s Bitcoin Mining Ban Leaves Mark on 2021

Looking back at 2021, one of the biggest stories in cryptocurrency was China’s ban on Bitcoin mining and the great hashrate migration that followed.

Background: Historically, a critical portion of the world’s global Bitcoin hashrate occurred in China. There was talk of a ban for some time, but most people were skeptical about the threats.

2021 Ban: The ban, and crackdown, finally occurred in 2021. This resulted in miners moving to other places, including the U.S., which became the largest destination for miners by October.

Outcome: Oddly enough, Bitcoin reached an all-time high in November. The price of Bitcoin has since fallen in December.

Final Thoughts: In 2022, could we see more global distribution of Bitcoin mining?

Deal: Oracle is said expected to acquire Cerner for mid $90s/share (Seeking Alpha)

Uncle Sam’s Bitcoin Stash: The U.S. government has a massive, secret stockpile of bitcoin — Here’s what happens to it (CNBC)

Headwinds: Covid-19’s Omicron Variant Starts to Take Toll on Businesses (The Wall Street Journal)

Not for the United States: SenseTime lines up nine cornerstone investors and excludes US investors as it relaunches its IPO for a quick turnaround in Hong Kong (South China Morning Post)

That’s Responsible: Mintos Is Introducing Responsible Investing Requirement for Automated Investments in line with MiFID II (Crowdfund Insider)

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