THURSDAY, NOVEMBER 2, 2023

➤ House Speaker Mike Johnson told Senate Republicans that U.S. military aid to Israel needs its own bill and can’t be tied to funding for Ukraine.  (More) 

➤ Police arrested Patrick Dai, a Cornell University junior, for posting violent antisemitic threats on a message board. A judge ordered him held in jail during a federal court appearance. (More) 

➤ New York City is offering free one-way tickets to anywhere for migrants willing to leave the city, whose shelters are filled to overflowing. The city says the plane tickets are cheaper than sheltering people for months. (More) 

This painting sold for a 5,7898x price appreciation, now you can access the market

When a New York City real estate developer purchased an untitled painting from a little known-artist named Jean-Michel Basquiat for $19,000 in 1983, he definitely wasn’t expecting a 5,798x return on his investment. But that’s exactly what happened when he sold the work for a stunning $110,000,000 in 2017.

It may sound too good to be true, but contemporary art prices have quietly outpaced the S&P 500 by 136% over the last 27 years. Now, everyday investors are unlocking access to the very same market thanks to the blue-chip art investing platform Masterworks.

Masterworks’ nearly $1 billion collection includes works by greats like Basquiat, Banksy, and Picasso, all of which are collectively owned by everyday investors. When Masterworks sells a painting – like the 16 it’s already sold – investors reap their portion of the profits.

Offerings can sell out in minutes, but The Flyover readers can skip the waitlist to join with this exclusive link.

➤ The first official College Football Playoff rankings were released, surprising many by ranking Ohio State No. 1 and Georgia No. 2. The list also has Texas ahead of Oklahoma, despite Oklahoma beating Texas this season. (See List) 

➤ Two of the World Series games this week were the least viewed in the history of the Fall Classic. They averaged 8.1 million viewers, compared to the previous low of 8.3 million in the 2020 pandemic-year Series. (More) 

Market Report   11/1/23

➤ Big Stock Move: Paycom Software stock plummeted 38% after its third-quarter report came in below expectations, with future growth facing some headwinds. (More) 

➤ The Federal Reserve left interest rates unchanged, the first time in nearly two years that the Fed paused rates for two consecutive meetings. (More) 

➤ Netflix’s new ad-supported tier reached 15 million active monthly users one year after the streaming giant launched the cheaper plan to revive subscriber growth. (More) 

Flying together with our sponsor

➤ Discover the potential of OpenAI with Upwork. Their platform is not just a marketplace; it’s a hub of innovation where you can find experts to help you build chatbots, design applications, or integrate APIs. Each professional is pre-vetted for excellence. And when you’re ready to discuss your project, booking a paid consultation is as simple as one click. Experience the Upwork advantage for developing your next AI project.

Masterworks enables its 820,000+ users to access investments in multi-million dollar artworks by artists like Banksy, Basquiat, and Picasso for just a fraction of the cost of an entire piece. When Masterworks sells a painting, like the 16 it’s already sold, investors reap their portion of the net proceeds. In fact, its investors have already realized annualized net returns of 17.8%, 21.5%, 35%, and more. Every offering is limited, and shares can sell out in just minutes, but Flyover readers can skip the waitlist with this exclusive link.

Past performance is not indicative of future returns. Investing involves risk. See disclosures masterworks.com/cd

➤ Biologists have puzzled for decades over which part of a starfish should be considered its head. New research now indicates that the whole starfish IS the head, or at least could function like one. (More)  

➤ Scientists fired up the world’s smallest particle accelerator, a nanophotonic device that’s basically the size of a coin. That’s 54 million times smaller than CERN’s 17-mile-long Large Hadron Collider. (See Photo) 

➤ Two-thirds of Americans report increased household expenses over the past year, but only 25% saw an income increase over the same period. Half say their savings have decreased over the past year. (See Survey) 

➤ By a large margin, Americans say they’re concerned about how companies and the government use their personal data, but more than two-thirds say they have little to no understanding of how the data is used. (See Survey) 

➤ A man who believed he was playing a real-life version of “Grand Theft Auto” led San Francisco cops on a wild car chase in which he detonated a pipe bomb and lit a Molotov cocktail before wrecking his car. (See Photos) 

➤ A pear tree thought to be more than 250 years old, dug up in 2020 over local opposition — and voted the best tree in England in 2015 — is showing the first signs of growth after being replanted nearby. (See Photos) 

1. Yes
2. No

Wednesday’s Results:

Have you ever bought anything at an auction?

1. Yes: 64%
2. No: 36%

Today’s Trivia

Cherophobia is the fear of what? 

Show me the answer