Hey Influence Traders,
In case you’ve been hunkered down in your Covid cave and haven’t heard the news, Andrew Giovinazzi and I started a hedge fund for you called … Capitol Gains!
We launched it a week ago and spent this past Tuesday walking through the fundamentals of our process.
MANY of you have jumped at the chance to trade your own hedge fund as part of our new program.
After all, it’s a tested hedge fund formula:
- I bring you insight on the most lucrative money-mover in world history — the US Government.
- Andrew, one of the top options traders of the past 30 years, builds money making trades on that information advantage.
The best part is — we are working directly for you.
The second best part — OptionPit CEO Mark Sebastian threw down a challenge to us and a guarantee to you.
If we don’t have at least 12 50% gainers in the next 12 months we’ll give you your money back.
My first reaction was – SAY WHAT!?!?
But hell, Andrew and I love rising to a good challenge.
CAPITOL GAINS just closed a short call in Ford (Ticker: F) for an 80% gain!
That’s our second 50% plus winner closed THIS WEEK.
Just 10 more to go.
Gamesmanship continues on Capitol Hill.
Debate on the $1 trillion bipartisan infrastructure bill has slowed to a crawl.
Almost 300 proposed amendments to the legislation have been submitted, which will make it tough for everyone to get time on the Senate floor.
Some senators are holding their colleagues’ amendments hostage by objecting to voting on them unless theirs are also considered.
Bad News For Banks, FinTech and Crypto
President Biden nominated Cornell law professor Saule Omarova to be the nation’s top banking regulator – the Comptroller of the Currency.
If confirmed, she’s expected to be heavy handed with banks, FinTech and crypto.
Her academic writings highlight her views of the growing risks to banks of entering the cryptocurrency business. She argues that cryptocurrency allows banks to conduct more trading activity out of view of the Federal Reserve and other regulators.
Good for the Climate, Bad for Polluters
Congressional Democrats are drafting legislation to impose $500 Billion in “Climate Damages” on companies deemed to be big polluters.
Under the plan, the Treasury Department would tax a few of the biggest emitters of planet-warming pollution.
The Treasury and the Environmental Protection Agency would identify the companies that released the most greenhouse gases into the atmosphere from 2000 to 2019 and assess a fee based on the amounts they emitted. That would apply to 25 to 30 companies.
LOOK OUT Exxon (Ticker: XOM)!
Big Push for EVs
President Biden is pushing heavily on his quest to have 50% of American cars be EV by 2030. It’s one of the reasons we’ve made #CapGains in Ford (Ticker: F).
To that end he invited the big three to the White House yesterday … and that did not include Tesla (Ticker: TSLA). The inside word (actually Jen Psaki gave it away unintentionally) is that TSLA is a non-union shop.
Cleaning Up Drunk Driving
The 2,700-page infrastructure proposal mandates that new vehicles have “a system that … passively and accurately detect[s] whether the blood alcohol concentration of a driver of a motor vehicle is equal to or greater than the blood alcohol concentration” of 0.08, which is generally the limit to drive in most states.
The more $1 trillion-plys infrastructure package would require that alcohol monitors be installed in all new cars.
It will be phased in over a decade.
Big Spends = Big Deficits
The Congressional Budget Office projected on Thursday that the Senate’s bipartisan infrastructure bill would add more than $250 billion to the federal deficit over the next decade.
It makes it clear that other sources of revenue need to be found to pay for the legislation.
No More Carried Interest?
A proposed bill will close the carried interest tax loophole, the device private equity managers use to defer paying tax for years.
The Joint Committee on Taxation estimates that the proposed legislation would raise $63 billion over 10 years.
Cutting through the noise for you.