Alternative Investing Report - November 11, 2024

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*as of 11/10; Sources: S&P, BTC, FTSE, DJRE, CL50

2024 has seen $40 billion raised via IPOs on U.S. exchanges so far, which is a 64% gain compared to 2023, but still well below average compared to previous years. In the wake of the election, financial markets have boomed and now there are expectations that IPOs will come back to life in 2025.

➨ TAKEAWAY: IPO activity has historically risen in post-election years, as companies wait for the election uncertainty to pass. The Fed’s recent interest rate cuts could help loosen the backlog, as equities are more attractive in a lower interest rate environment. The performance of companies post-IPO has also been strong, with the PitchBook VC-Backed IPO Index up 47% YTD. All told, the environment looks to be friendly for companies looking to go public, and investors should take a close look at what companies could be eyeing 2025 IPOs.

In this episode of Smart Humans, Slava Rubin talks with CapitalPad co-founder Travis Jamison about sourcing, investing in and profiting from small and medium sized businesses.

🏺 Ming Dynasty jars: A pair of 16th century porcelain fish jars sold for $12.5 million at auction, after a bidding war pushed the price well past the pre-auction estimate of $1.3 million.

🪙 Crypto stays hot: In the wake of the election, Bitcoin crossed the $80,000 threshold for the first time and is up over 16% the past week, while Ethereum and Solana are up nearly 30% in the same timeframe. Memecoins like Dogecoin (+80%) and Shiba Inu (+53%) have also seen huge gains.

🏡 Florida home prices decline: More inventory, a rise in insurance prices, and the recent hurricanes have seen home prices in some parts of Florida fall at the highest rate since 2011.

🚀 Climate tech funding falls: Q3 saw the lowest level of global funding to climate tech startups since 2020, and the results of the election are not likely to reverse that trajectory as the incoming administration has not painted itself as green-friendly.

🎨 AI art auction: A portrait of Alan Turing painted by Ai-Da, the first artwork by a AI robot artist to ever be auctioned, sold for $1.08 million, smashing the pre-auction estimate of $120,000 - $180,000.

Monday: The U.N. Climate Change conference COP29 begins in Baku, Azerbaijan; Sotheby’s Hong Kong Modern & Contemporary Evening sale, featuring a Mark Rothko painting with a high estimate of $35 million.

Wednesday: October inflation reports released, including Consumer price index (CPI) and Core CPI.

Thursday: Producer price index (PPI) released; Propstore’s film memorabilia auction begins.

Friday: U.S. retail sales report released.

Saturday: The “Vulcain” dinosaur skeleton will be auctioned in Paris with a $22 million estimated price tag; 2024 Fall Goldin 100 auction, featuring Michael Jordan and Bill Russell game-used jerseys.