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- Alternative Investing Report - October 13, 2025
Alternative Investing Report - October 13, 2025

Happy Columbus Day and Indigenous People’s Day! Crypto crashed over the weekend, a sports card sold for $10 million, the hottest housing markets are in the Northeast and Midwest, and another AI unicorn was minted. Let’s dive in!
🎫 Register: For an investor briefing on SpaceX, Elon Musk’s $400 billion space technology startup. Wednesday at 12.
This issue is brought to you by Lightstone DIRECT - success across cycles.
📈 WEEKLY MARKETS

🪙 WEEKEND CRASH
President Trump’s announcement on Friday that he is planning to impose an additional 100% tariff on Chinese goods rocked financial markets, with crypto crashing late Friday night. The entire market lost more than 10% of its market cap almost instantly - Bitcoin fell below $110,000 and many altcoins fell by 20-30%, with some crashing even further. A record $19 billion was liquidated from the market, but by last night, there was a partial recovery leaving it still down more than 5% for the weekend.
➨ TAKEAWAY: The tariff announcement led to a broader risk off movement for investors, with the S&P 500 falling by 2.7%, though the futures market indicate a rebound as Trump partially backed away from his comments after China vowed retaliation. The magnitude of the crash, combined with some questionably timed short positions that opened up 30 minutes before Trump’s announcement drove many investors to suggest that the market was manipulated. Investors need to always keep in mind that crypto is still highly speculative and has some aspects of a Wild West market, which can bring episodes of incredible volatility.
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📺 UPCOMING EVENT
Vincent co-founder Slava Rubin and Sacra co-founder Jan-Erik Asplund will explore the business of SpaceX, the world’s (2nd) largest private company. They’ll talk about the company’s growth, what risks to consider, and how to contextualize valuations in today’s market environment.
Wednesday at 12 PM ET.
📰 NOTABLE NEWS
🏀 Jordan/LeBron card sale: A 2006-07 Exquisite Michael Jordan/LeBron James dual autograph Logoman one of one card sold for $10 million, the third highest sports card sale of all-time. The buyers are the same group that recently bought a similar Jordan/Kobe Bryant card for $12.9 million.
🏡 Hottest housing markets: Based on how many viewers each property gets and how quickly they sell on average, Springfield, MA, was September’s hottest housing market, placing #1 for the fifth straight month. Five Wisconsin cities also placed in the top ten, and the Northeast and Midwest dominated the list, marking two years since any other region has cracked the top 20.
🤖 AI agent fundraise: The Berlin-based AI startup n8n raised $180 million at a $2.5 billion valuation, more than 7x its previous valuation from less than a year ago, highlighting how frothy the AI agent landscape is currently.
💵 Daily pricing for private funds: As more retail investors gain access to private market assets, there is a push for funds to mark their portfolios daily, which should give everyone a more accurate picture of the value of the assets.
🏢 Office recovery: Rents for Class A office space in major U.S. markets such as New York and San Francisco are rebounding, but a number of leases are expiring in 2026, and their renewal cycle will be a bellwether for for future demand and supply.
🎨 $45 million Basquiat: Never before sold at auction, Jean-Michel Basquiat’s 1981 painting “Crowns (Peso Neto)” is coming to Sotheby’s next month in New York and carries a high estimate of $45 million.
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📆 LOOKING FORWARD
This week: As long as the government remains shut down, there will not be any official economic reports released.
Today: Columbus Day / Indigenous People’s Day, most financial markets remain open.
Tuesday: NFIB Small Business Optimism index released.
Wednesday: Consumer Price Index (CPI) and Core CPI inflation reports are scheduled to be released, but may be delayed due to the government shutdown; Christie’s 20th/21st Century London Evening Sale.
Thursday: U.S. retail sales; Producer Price Index (PPI) and Core PPI inflation reports released (if government reopens); Sotheby’s London Contemporary Evening Sale.
Friday: Housing starts and building permits reports released (if government reopens).
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