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Become a Better Investor Newsletter – 20 December 2025

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Noteworthy this week

  • US labor market weakens
  • Coal demand hits ATH
  • Silver hits another ATH
  • AI-related stocks are 20%+ of global market cap
  • Fund managers are invested

US labor market weakens: Full-time workers plunged by 983K in the 2 months since September, to the lowest of 2025. During the same period, part-time workers soared by 1 million to a new all-time high.

Coal demand hits ATH: Global coal demand rose to a fresh all-time high in 2025, according to an IEA report. The green transition appears to be progressing well.

Silver hits another ATH: Silver reached another all-time high, at US$67/oz t.

AI-related stocks are 20%+ of global market cap: This percentage has doubled since November 2022, when ChatGPT was introduced. Meanwhile, in the US, AI-related names now reflect a record 46% of the S&P 500’s market cap.

Fund managers are invested: Global fund managers’ cash levels are down to 3.3%, the lowest in history.

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Weekly market performance

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Chart of the week

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Podcasts we listened to this week

RWH063: AVOID DISASTER W/ HOWARD MARKS

“Since its launch 30 years ago, the firm has grown into a global powerhouse in alternative investments, with $218 billion in assets. Here, Howard explains how to prosper over decades by avoiding disaster & aiming for “steady excellence;” why he believes “most AI companies will end up worthless;” & why he’s no fan of Bitcoin or gold.”

Listen on Apple or Spotify.

Readings this week

America’s New Enemy: The Chinese Crypto Cartel Buying States to Fight the US

“A mysterious South African took over a sovereign nation, armed with a flood of untraceable wealth from scam compounds enslaving thousands. This is the story of how Chinese organized crime captured Thailand — and why America should be terrified.”

Read the article.

Book recommendation

How Countries Go Broke: Principles for Navigating the Big Debt Cycle, Where We Are Headed, and What We Should Do by Ray Dalio

“Do big government debts threaten our collective well-being? Are there limits to debt growth? Can a big, important reserve currency country like the United States really go broke – and what would that look like?”

Get the book on Audible or free PDF.

Audible is great; have you tried it? If not, click here to get 2 books for free.

Memes of the week

Published on Become a Better Investor this week

What if more quizzes created more joy—not stress? Lee Jenkins shows host Andrew Stotz how Deming-inspired practices like random-concept quizzes, student-led charts, and “all-time best” celebrations turn classrooms into true learning systems that build confidence, motivation, and real understanding. A simple shift in method—massive shift in joy.

Listen to Optimizing Student Learning: Crazy Simple Education (Part 2)

BBGI Public Company Limited (BBGI TB): Profitable Growth rank of 7 was down compared to the prior period’s 5th rank. This is below average performance compared to 170 medium Energy companies worldwide.

Read BBGI – World Class Benchmarking

Dusit Thani Public Company Limited (DUSIT TB): Profitable Growth rank of 9 was same compared to the prior period’s 9th rank. This is poor performance compared to 850 medium Cons. Disc. companies worldwide.

Read Dusit Thani – World Class Benchmarking

Syntec Construction Public Company Limited (SYNTEC TB): Profitable Growth rank of 4 was up compared to the prior period’s 5th rank. This is above average performance compared to 1,190 medium Industrials companies worldwide.

Read Syntec Construction – World Class Benchmarking

Chow Bright Ventures Holdings Public Company Limited (CHOW TB): Profitable Growth rank of 8 was down compared to the prior period’s 3rd rank. This is below average performance compared to 410 small Materials companies worldwide.

Read Chow Bright Ventures Holdings – World Class Benchmarking

DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.

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