PE is coming for the NFL

Hello and welcome to Alts Cafe

It was a banging week for ​Altea​ members. Check out the update below.

Highlights from the full issue:

  • Macro: Goldman has turned bullish on the S&P
  • Real Estate: Ohio homes for sale jumped 73%
  • Startups: Sword Health raised $130 million
  • Private Credit: The NFL allows PE firms to invest in teams
  • Crypto: Coinbase announced support for pre-launch markets
  • NFTs: Bitcoin-based NFTs surpassed the Ronin blockchain
  • Art: Sotheby’s credit rating was downgraded from B to B-
  • Vintage Autos: DR Automobiles was fined $6.4 million
  • Coins: A 1976-S Bicentennial Silver Quarter sold for $19,200
  • Farmland: EU’s organic farming area grew 17 million hectares
  • Luxury: Burberry shares outperformed the market last week
  • Wine, Tequila, and Spirits: A Jack Daniels barrel was stolen
  • Film & Music: Queen sold their rights to Sony Music
  • Precious Metals: WTMA merged with Evolution Metals
  • Collectibles: Valuable Lego’s are being stolen in LA
  • Websites: Squarespace sold Tock to American Express

Let’s go.

Wyatt

Macro View

Bullish News

Bearish News

What are the odds?

Kashi is forecasting one or two rate cuts in the back half of 2024, but I’ll be very surprised if it’s two or more.

Get $25 to play around with using this link.

What are we doing?

​Altea​ Highlights

This is the last week to ​apply to Altea​ at $1,500 annually. Next week, the price goes up to $2,500.

Last week, I asked for EOIs for the deals below. Lots of feedback and interest in cash-flowing agave farmland and tequila barrels but less for a traditional wine opportunity.

We’re currently working to secure opportunities in both film and litigation finance. Read up on our deep dives into:

If the above sounds interesting, click the “I’m interested in this” button below.

Investor Field Trips

We’ve locked in Nashville 🎸 for a music-themed investing adventure to Music City, USA.

Get your boots spit-shined and your guitar tuned.

Est. dates: October 21 – 25

We’ll discount the first few members who make a deposit. Let me know if you’d like to join.

Check out the ​full roundup​.

​ALTS 1​ Fund news

The investor portal should be ready this week.

Real Estate

Bullish News

  • The median existing-home sales price ​jumped 5.8%​ from May 2023 to $419,300.
  • Q2 2024 industrial investment sales volume in Greater Boston ​already exceeds Q1 totals​, on pace to set a 2-year quarterly record.
  • Trinity Investments and Credit Suisse Asset Management secured a ​$575 million​ CMBS refinance for The Diplomat Beach Resort.
  • Central Ohio homes for sale ​jumped 73% from 2023​, reaching the highest inventory level in at least seven years.
  • The Greater Fort Worth Association of Realtors reported that housing inventory hit ​3.2 months in May​, the first time in over a decade.
  • Oakley founder James Jannard sold his Malibu mansion for $210 million, setting a record for the most expensive home ​ever sold in California​.

Bearish News

  • California’s housing market ​faced significant challenges​ in May 2024 due to the highest mortgage rates since late 2023.
  • A New Jersey man ​pleaded guilty​ to orchestrating a $54.7 million mortgage fraud conspiracy over six years by deceiving lenders.
  • Scammers based in Nigeria ​nearly auctioned off Graceland​, Elvis Presley’s iconic Memphis home.
  • In South Dakota, total property tax payments increased ​nearly 60%​ for homes, 47% for commercial property, and 28% for agricultural property in the last decade.
  • In May 2024, ​55% of homes for sale​ in the San Francisco-San Mateo county region were listed for a month or more without finding a buyer.

How to invest in real estate right now:

Elvis has nearly left the building

Startups

Bullish News

Bearish News

  • Researchers suggest that ​banning startup​ acquisitions may depress innovation.
  • Ginkgo Bioworks announced plans to ​cut labor costs​ by up to 25% last month, and notified the state of 158 layoffs, with more to come.
  • The Los Angeles Unified School District confirmed that at least one of its Snowflake vendors had its data stolen in a ​recent cyberattack​.
  • Peloton is starting to ​lose its star instructors​, with three of its most popular instructors leaving the company.

How to invest in startups right now:

Where are those instructors pedaling off to?

Private Equity and Private Credit

Bullish News

Bearish News

How to invest in PE and Private Credit right now:

Welcome PE to the field.

Crypto

Bullish News

  • Coinbase ​announced support​ for pre-launch markets on its International Exchange and Advanced platforms.
  • Binance partnered with ​Cristiano Ronaldo​ on a series of NFT drops, with digital collectibles starting at $35.
  • The billionaire Winklevoss twins, founders of Gemini, ​each donated $1 million in bitcoin​ to support Donald Trump.
  • MicroStrategy, the largest corporate holder of bitcoin, acquired another ​11,931 BTC​ for $786 million.
  • The total market cap of 14 US-listed bitcoin miners followed by JPMorgan hit ​a record high​ of $22.8 billion on June 15.
  • Crypto trading firm Cumberland DRW acquired a ​New York BitLicense​, becoming one of the only principal trading firms to do so.
  • LandBridge ​launched an IPO​, with land in the Permian Basin supporting crypto mining operations and the “non-oil and gas” royalty segment.

Bearish News

How to invest in Crypto right now:

With a name like Bonk, I can’t say expectations were high.

NFTs

Bullish News

  • Bitcoin-based NFTs ​surpassed the Ronin blockchain​ with $148 million in sales over the past 30 days, reaching $4 billion in total sales volume.
  • Konami Digital Entertainment ​announced the launch​ of Resella, supporting yen transactions without requiring web3 wallets.
  • Cryptorefills launched “​The 7 Deadly Sins​“, an NFT gift card collection with spendable balances up to $500.
  • Polygon’s (MATIC) Moon Girl collection leads CryptoSlam’s NFT sales chart at ​$1.36 million​ in daily sales.
  • Paris Match ​announced an auction​ of 75 archival photos as Ethereum NFTs, with starting bids at 0.3 ETH to commemorate its 75th anniversary.

Bearish News

How to invest in NFTs right now:

Remilia should be on tornado watch.

Artwork

Bullish News

  • A University of Oregon team developed an AI tool that can verify Jackson Pollock paintings with ​98.9% accuracy​.
  • 56% of art collectors considered art assets as part of their ​wealth management strategy​ alongside 98% of younger collectors.
  • The Figge Art Museum received a transformative gift valued at around ​$14 million​.
  • The San Francisco Museum of Modern Art acquired Yayoi Kusama’s “​Infinity Mirror Rooms​” after a recent exhibition that was seen by 170,000 people.
  • The Whitney Western Art Museum in Cody acquired its first ​artwork by Andy Warhol​, a portrait of General George Armstrong Custer.
  • At ​Art Basel 2024​, Hauser and Wirth sold an Arshile Gorky for $16 million, and David Zwirner sold a Joan Mitchell for $20 million.

Bearish News

How to invest in Artwork right now:

I wasted all my time stealing their hot sauce; I never considered what they had hanging on the walls.

Vintage Autos

Bullish News

  • The global luxury car market is set to reach ​$1.03 trillion​ by 2031, growing at 6.6% CAGR.
  • BMW Group Classic is set to ​offer​ restoration services in Australia, expanding to 48 showrooms.
  • An abandoned car ​dealership​ in New Hampshire with over 300 vintage cars, including American classics, is on the market for £320,000.
  • 94% of Gen Z and millennial investors are reportedly collecting luxury items and ​classic cars​.

Bearish News

How to invest in Vintage Autos right now:

Might be time to start locking the garage.

Rare Coins

Bullish News

  • A 1976-S Bicentennial Silver Quarter ​sold​ for $19,200 at auction.
  • The finest known 1794 Flowing Hair Dollar, ​insured for $15 million​, is set to be displayed at ANA 2024 this August.
  • The global coin collection market is valued at ​$9.72 billion​, and projected to reach $19.56 billion by 2030.
  • Last week, archaeologists ​discovered​ 94 bronze and silver coins in ancient Lod, Israel.
  • US Mint ​sold 89,273​ Uncirculated 2024-W American Eagle silver dollars in its first three days of release.

Bearish News

  • £6,000 worth of rare coins was ​stolen​ from a collector’s home in Scarborough last week.
  • An Arlington coin sale ​turned violent​, resulting in a shooting and Edgar Ipina’s arrest.
  • A rare coin seller ​shot​ an alleged thief during a meetup near Parks Mall in Arlington last Monday.

How to invest in Rare Coins right now:

I was just wondering where I left my 94 bronze and silver coins.

Farmland

Bullish News

Bearish News

  • USDA will ​eliminate​ the July Cattle report and County Estimates due to budget shortfalls.
  • Chinese-owned farmland near ​19 US military bases​ raises national security concerns over espionage.
  • Hundreds ​protested​ on Tuesday over the transforming of 861 acres of farmland near Sugar Grove into warehouses and housing.
  • Georgia’s spread of solar farms faces legislative ​scrutiny​ after losing 2.5 million acres of farmland.
  • CBO’s $12 billion estimate for USDA’s CCC spending is far below the ​$50 billion needed​ for farm bill proposals.

How to invest in Farmland right now:

Then how are we to know how many cattle we have in July?

Luxury Goods

Bullish News

Bearish News

How to invest in Luxury Goods right now:

Laundering with luxury goods is a tough gig. Try a car wash next time.

Wine, Tequila, and other Spirits

Bullish News

  • A 5.5L bottle of 1972 Domaine de la Romanée-Conti La Tâche ​sold for $150,000​ at Bonhams.
  • The Spirits Club launched a UK bottle spirit investment opportunity with potential ​25% annual returns​. [Ed: I researched it a bit and all three addresses they list are virtual offices.]
  • Rare Bordeaux and Burgundy wines from the Avery family’s collection helped Christie’s London auction ​reach almost £2.57 million​ in total sales.
  • Ukrainian ​vodka production​ is expected to exceed 2021 figures despite ongoing war with Russia.
  • Sotheby’s auctioning Pierre Chen’s wine collection, expected to fetch ​$50 million​.
  • New York is set to allow distillers and cider makers to ​ship products directly​ to residents.
  • Former Yukos shareholders ​auctioned​ 18 Russian vodka brands, including Stolichnaya, for €1.6 million.

Bearish News

How to invest in Wine and Spirits right now:

The more interesting story is how he stole a Jack Daniel’s barrel.

Music and Film

Bullish News

Bearish News

How to invest in Music and Film right now:

AI-written films, even when about being AI-written, are still AI-written.

Metals and Gems

Bullish News

Bearish News

  • Commercial Metals’ ​stock declined​ 9% despite strong financials; analysts expect future earnings to shrink.
  • Lynas Rare Earths stated that demand growth for responsibly produced rare earths has ​not been matched​ by price growth, with China’s supply weighing on prices.

How to invest in Metals and Gems right now:

Rings made from e-scrap, how romantic.

Collectibles

Bullish News

  • Fanatics secured ​exclusive​ official merchandise licensing with NFL, NHL, NBA, MLB, and college sports.
  • Adults 18+ accounted for more ​toy sales​ than any other age group in early 2024.
  • Spurs rookie Victor Wembanyama ​surpassed​ Michael Jordan in eBay searches.
  • The 2024 Bank of America Private Bank Study of Wealthy Americans found Gen Z allocates ​three times more​ of their investment portfolios to alternative investments than older generations.
  • Fanatics ​appointed​ Mike Mahan as CEO to grow global collector numbers.

Bearish News

How to invest in Collectibles right now:

Minifigures for multifigures.

Websites and Domains

Bullish News

Bearish News

How to invest in Websites and Domains right now:

PerplexityAI bypassed Robots Exclusion Protocol… time to hit the bunker.

Cheers,

Wyatt

Disclosures

  • We hold BTC, ETH, and a couple Star Wars Action figures in our ​ALTS 1 Fund​.
  • There are a couple of affiliate links above. If you click them, we may get a couple of bucks.

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Author

Picture of Wyatt Cavalier

Wyatt Cavalier

With a background in finance & intelligence analysis, Wyatt has an unhealthy obsession with finding the best blue chip investment opportunities. His previous newsletter, Fractional, resonated deeply with subscribers, bringing actionable insights and unconventional trading strategies. His rare book collection specializes in banned editions. He currently lives in Spain with his beautiful wife, three young boys, and dog Monty.

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