😀Your Weekly Update is Here
Catch up with everything that happened last week.
🗓️May 12th 2024
📔Term of the Week
An Index
Definition
An index is a statistical measure that tracks the performance of a group of assets representing a specific market or sector. For example, stock market indices like the S&P 500 and the Dow Jones Industrial Average monitor the performance of a selection of significant companies to gauge the broader health of the economy. Indices can also track bonds, commodities, or specific market segments like technology or real estate. They provide investors with a benchmark to compare the performance of individual investments and guide portfolio strategies.
🍵Weekly Round-Up
This week, we had the Milken Institute Global Conference held from May 5-8 in Los Angeles. It is an annual event that brings together influential leaders from various sectors to discuss and address some of the most pressing challenges facing the world today. The 2024 edition focused on "Shaping a Shared Future".
Photographer: Patrick T. Fallon/AFP/Getty Images
For more on the events that unfolded at this year's conference, head to Milken-institute-global-conference
Jim Simons, Math Genius Who Conquered Wall Street, Dies at 86
Jim Simons, the prizewinning mathematician who abandoned a stellar academic career, then plunged into finance — a world he knew nothing about — and became one of the most successful Wall Street investors ever, died on Friday in his home in Manhattan. Using advanced computers, he went from M.I.T. professor to multibillionaire. His Medallion fund had 66% average annual returns for decades.
India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers.
Binance, the world's largest cryptocurrency exchange, has registered with India's Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the country. The exchange was barred from operating in India in December for non-compliance with local regulations, part of the financial watchdog's crackdown on offshore crypto exchanges operating in the country without registration.
Apple is finalizing a deal with OpenAI to put ChatGPT on the iPhone, while talks with Google to use Gemini are ongoing.
Apple Inc. has closed in on an agreement with OpenAI creator of ChatGPT to use the startup’s technology on the iPhone, part of a broader push to bring artificial intelligence features to its device. Apple has also held talks with Alphabet Inc.’s Google about licensing the company’s Gemini chatbot. Those discussions haven’t led to an agreement, but are ongoing.
When nature meets technology: Phone cameras bring the northern lights to life, during solar storms.
Thanks to smart phone technology, our gadgets can see what we can’t.
🔎Infographic of the Week
Aurora Colours
📈Market Update
INDEXES
Source: google.com/finance
Overall Portfolio performance for the week: 🟢+1.88%
Top Performmer: 🟢$ZETA 23.24%
Bottom Performer: 🔴$SHOP -20.84%
Source: Interactive Brokers LLC
🍽️Recipe of the Week
Veggie Fried Rice with Diced Lettuce ⭐⭐⭐⭐
Ingredients:
1 cup cooked rice (preferably day-old)
1-2 eggs
1 medium carrot, diced
A handful of French beans, chopped
1 cup diced romaine lettuce
2 tbsp soy sauce
1 tbsp cooking oil
Salt and pepper to taste
Instructions:
Prep the Veggies: Dice the carrot and chop the French beans.
Cook the Eggs: Heat oil in a pan over medium heat. Crack eggs into the pan and scramble them until fully cooked. Set aside.
Sauté the Vegetables: In the same pan, add a bit more oil if needed and sauté the carrots and French beans for 2-3 minutes until they soften slightly.
Add Rice and Eggs: Add the cooked rice to the pan and stir to combine. Mix in the scrambled eggs.
Season: Add soy sauce, salt, and pepper. Stir for another 2-3 minutes until everything is well combined.
Add Lettuce: Add the diced lettuce and stir gently for another 30 seconds to a minute. The lettuce should still have some crunch.
Serve: Plate the fried rice and enjoy!
Concluding note:
Another eventful week, with major industry players gathering in LA for the Milken Conference and the Met Gala dazzling New York. This week might just make it into the history books, as millions of people witnessed stunning auroras. There's a lot to look forward to next week, and I'll be here to recap everything that happened. See you next weekend!
This is a weekly exploration of words, terms, market trends, global politics, culinary delights, and personal finance updates brought to you by yours truly.