Together with Waldo
Shoutout to the 118 people who joined the Rich Habits Network so far this month!
What Is The Rich Habits Network?
The New York Times wrote about the Rich Habits Network for a reason: it's where 950+ members invest in venture-backed companies like SpaceX, Apptronik, and Perplexity before they go public. 30+ deals closed.
Everything the Rich Habits Podcast can't fit into an episode — deals, coaching, research & 8 hours of video courses for 950+ members and counting.
We’re currently running a deal for one private company:
A hardware company well on its way to an IPO that is 3D printing structures (homes, military barracks, etc) faster and cheaper than the competition — has already 3D printed an entire neighborhood in collaboration with Lennar.
A quick breakdown — in case you don’t have the time.
⭐ Semis are now cheaper than 7 other S&P 500 sectors.
⭐ Is the AI bubble popping? w/ Charles Payne
⭐ Wall Street is getting nervous about the hyperscalers’ data center debt.
⭐ Retail traders sold $243 million of single stocks yesterday.
Market Overview
As of Market Open 7/30/26
ETF Winners & Losers
Chart of the Week
Semis are now cheaper than 7 other S&P 500 sectors.
For the last two years, investors kept saying the market was being carried by a tiny group of mega-cap tech names. That was true for a while. But this chart shows something different happening underneath the surface.
Semiconductors now trade at 17.6x forward earnings, which makes them cheaper than seven other S&P 500 sectors. They are cheaper than tech, health care, staples, discretionary, industrials, utilities, and materials on a forward P/E basis.
That is important because semis are still one of the highest-growth areas of the market. These are the companies powering AI, data centers, cloud infrastructure, and the next wave of compute demand. Yet relative to the rest of the market, the group no longer looks expensive.
That changes the conversation. If the most important AI infrastructure stocks are getting cheaper while expected earnings growth remains strong, the market is not just relying on a handful of expensive mega-cap winners anymore.
The leadership is broadening. Some of the old winners have pulled back, but capital is still moving into companies with real earnings growth behind them. That is usually healthier than a market where only a few names are doing all the work.
The risk is that semis have become the new pressure point. If earnings disappoint, the market will feel it. But if the numbers hold up, this could be another sign that the bull market has more underneath it than people think.
Together with Waldo
The High-Yield Account for Business Cash
You have a high-yield savings account for your emergency fund, why don’t you have one for your business? Most businesses can’t open a traditional high-yield savings account with their current bank — forcing them to leave idle cash to sit in a low-yield checking account earning nothing.
Waldo helps small business owners, startups, nonprofits, and enterprises maximize their company cash through high-yield treasury accounts — with no minimums and without forcing you to switch banks.
Waldo offers access to yields up to 5% alongside SIPC insurance coverage up to $75M*. Waldo aims to provide institutional-grade solutions to all types of business owners. Opening an account takes less than 5 minutes.
Learn more at https://www.waldo.ai/
*Important disclosures are at the bottom of this post.
In Case You Missed It…
In this week’s Monday-morning episode of the Rich Habits Podcast (linked here) — Austin and Robert sat down with Charles Payne, host of Making Money with Charles Payne on Fox Business, to talk markets, AI, the Fed, memory stocks, and what everyday investors are missing in 2026.
Here’s what they covered…
The Market Beyond the Headlines — Charles breaks down what he’s seeing in the summer of 2026 and where investors may be too focused on the obvious narratives. After years of Magnificent Seven dominance, the conversation shifts toward whether the rest of the market is finally starting to matter again.
Memory Is the New AI Battleground — Austin and Robert dig into the massive move in memory stocks, including Micron’s surge and the growing importance of memory chips for training large language models. The debate: is Micron still cheap at 7x 2027 earnings, or is the market correctly discounting how cyclical this business has been historically?
Margins Can’t Stay Perfect Forever — Micron is posting massive profitability right now, with profit margins near 56%. Charles walks through what investors need to watch next: whether AI demand can keep pricing power strong, or whether the first cracks show up in supply, margins, or cyclicality.
Don’t Fight the Fed — The episode also covers the major shift in rate expectations, from three expected cuts entering 2026 to the market now pricing in potential hikes over the next 12 months. Austin and Robert ask Charles how higher rates impact equities, why Fed policy matters so much for valuation multiples, and what “don’t fight the Fed” really means for everyday investors.
What Wealth Builders Have in Common — After interviewing thousands of CEOs, investors, policymakers, and entrepreneurs, Charles shares the habits and mindset he sees most often in people who build extraordinary wealth. The biggest theme: staying disciplined through market cycles, avoiding emotional decisions, and understanding that wealth is built by participating in long-term trends before they become obvious to everyone else.
Whether you’re trying to understand the AI trade, figure out what higher rates mean for your portfolio, or learn how a market veteran thinks through cycles, this episode is a great listen from someone who has lived through Black Monday, the Dot-Com Bubble, the Financial Crisis, COVID, the inflation shock, and now the AI boom.
Here’s a link to the Q&A episode that was posted on Thursday. We switched up our scheduling this week!
You can submit questions for episodes by asking them inside of the Rich Habits Network, replying to this email, or sending us a DM on Instagram.
The Rich Habits Podcast is available on Spotify, Apple, iHeart, YouTube, and wherever else you get your content!
Austin’s Callout
Wall Street is getting nervous about the hyperscalers’ data center debt.
One reason the stock market has been in a panic over the last couple of weeks — especially this week — is that Wall Street is becoming less confident that the hyperscalers can finance their enormous data center buildout without damaging their cash flow and returns.
It’s not that Microsoft, Amazon, Google, and Meta can’t repay their debt — they obviously can. But the assumption that “of course they’ll make all of this money back” has turned into, “Well, hold on, let me do some math before I lend you another $20 billion.”
That shift is illustrated in the chart above. The blue line represents the average cost of insuring hyperscaler debt against default, while the red line tracks the broader investment-grade corporate market. Since mid-May, the hyperscaler spread has skyrocketed while the broader market has remained relatively flat.
The reason is simple: investors fear these companies could spend too much before AI produces real returns, and they’re issuing so many bonds that lenders are demanding higher yields simply to absorb all the debt.
This doesn’t mean Wall Street thinks Big Tech is going bankrupt — it means investors now want proof that AI revenue and cash flow can grow fast enough to justify hundreds of billions of dollars in annual spending. Until that proof arrives, financing the AI buildout will continue getting more expensive.
Robert’s Callout
Retail traders sold $243 million of single stocks yesterday.
That marked the fastest one-day outflow since the Covid crash, and only four trading sessions since 2019 have seen heavier retail selling.
That is a pretty meaningful shift. For most of this bull market, retail investors have been the steady bid underneath the market. They bought dips, kept adding to big tech, and helped support the same high-growth names that carried the indices higher.
Now we are starting to see a little hesitation. It does not mean everyday investors are abandoning the market, but it does show that the recent volatility is finally getting their attention. When retail investors move from dip-buying to selling single stocks, the tone of the market changes.
This is also why the next few trading sessions matter. If retail selling was just a one-day reaction to a rough tape, the market can absorb it. If it becomes a trend, that removes one of the more reliable sources of demand the market has had over the last few years.
Retail investors do not usually sell aggressively when they feel comfortable. They sell when the market starts to feel uncertain, crowded, or too risky to keep chasing. The key is not to panic when these moments happen, because a few rough days does not change our long-term plan.
The Rich Habits Radar
👉 Microsoft jumped after Azure topped $100B in annual revenue.
👉 Meta slid after weaker profits and higher AI spending.
👉 The Fed held rates steady as Treasury yields pushed to fresh 19-yr highs.
👉 Apple will be reporting earnings after the close.
👉 Amazon faced earnings scrutiny as investors questioned AI spending.
👉 Joby Aviation announced their 2025 Impact Report.
Get Free Resources w/ Our Referral Program!
Share this newsletter with 1 person and you’ll be sent our Financial Planning Workbook. Share it with 2 people and you’ll also be sent our video module explaining how Austin and Robert Analyze New Stocks.
It just takes a few moments — enjoy the resources!
Check ‘Em Out
Below is a list of our featured partners that we’ve vetted — with whom we have a personal relationship. Browse these exclusive offers curated just for you:
Wall Street Favorites — Wall Street’s best ideas ranked daily
Suriance — Protect your family with term life insurance
Real Estate — Download our FREE Real Estate Hacks Template
Budgeting — Download our FREE Budgeting Template
High-Yield Cash Account — Earn 3.3% on your savings
Public — Trade stocks, options, and crypto
Blossom — Manage and analyze your portfolio
Video Course — Use code “Newsletter” for 15% off
Seeking Alpha — Optimize your portfolio
Credit Card Matrix — Find your next favorite card to swipe
Disclaimer: This is not financial advice or a recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Paid endorsement. Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Not investment advice. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Past performance does not guarantee future results, and investment values may rise or fall. See terms of match program at https://public.com/disclosures/matchprogram. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
Disclosure: This content is sponsored by NEOS Investments. The creator is compensated by NEOS to discuss NEOS ETFs. This content is for informational purposes only, and is not personalized investment, tax, or legal advice, and does not constitute an offer to buy or sell any security. Investing involves risk, including possible loss of principal. Before investing, carefully review the NEOS ETFs prospectus at neosfunds.com.