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Crash Expert: “This Looks Like 1929” → 71,105 Diversifying Here
Mark Spitznagel, who made $1B in a single day during the 2015 flash crash, warned markets are mimicking 1929. Seems extreme but we did just see the worst quarter for the S&P since 2022.
So it’s not so surprising that Vanguard and Goldman Sachs forecasted 5% and 3% annual S&P returns respectively for 2024-2034.
Late last year, Apollo’s chief economist Torsten Slok put it this way: "expect zero in return in the S&P 500 over the coming decade."
Almost no one knows this, but postwar and contemporary art appreciated 10.2% annually with near-zero correlation to equities from 1995–2025 overall.*
And sure… billionaires like Bezos can make headlines at auction, but what about the rest of us?
Masterworks makes it possible to invest in legendary artworks by Banksy, Basquiat, Picasso, and more – without spending millions.
29 exits. Net annualized returns like 16.5%, 17.6%, and 17.8% on works held over 1 year+. $1.3 billion invested. 500+ offerings.*
Shares in new offerings can sell quickly but…
*According to Masterworks data. Past performance is not indicative of future returns. Investing involves risk. Important Reg A disclosures: masterworks.com/cd.
Good morning Edmonton, Happy Friday!
Its yet another Friday! What a week to be an Albertan. Last night Danielle Smith went on television and made it official. This province is voting on its future in October. There is a lot to unpack today, and we have done the work for you. Pour the coffee. Let us get into it.💛
Alberta Is Voting on Separation This October. Smith Made It Official.
Last night Premier Danielle Smith went on paid TV time and announced a new question is being added to the October 19 provincial referendum.
The question: "Should Alberta remain a province of Canada or should the government of Alberta commence the legal process required under the Canadian constitution to hold a binding provincial referendum on whether or not Alberta should separate from Canada?"
Earlier Thursday, Finance Minister Nate Horner and Hospitals Minister Matt Jones both resigned from cabinet. Both had publicly opposed a separation referendum. Jason Nixon steps in as new Finance Minister.
Smith said she personally would vote to stay in Canada. The question is a legal workaround following last week's court ruling that quashed the Stay Free Alberta petition.
This one is going to be on everyone's lips at the coffee shop this morning. Where do you land?
These Two Edmonton Women Got Fed Up With the Trash - So They Just Started Picking It Up
Lazina Mckenzie and Dana Bradley had the same conversation so many times they finally stopped talking and grabbed some bags.
Their grassroots group Litter Pickers started with a single April meetup at Kinsmen Park and filled 22 garbage bags. Their May cleanup in Old Strathcona filled 17 more.
They meet monthly in parks and neighbourhoods around Edmonton that could use a little care. No membership, no fees, just neighbours showing up.
Their next cleanup is June 14 at Concordia University from 2 to 4 pm. All welcome.
Would you show up for a cleanup in your neighbourhood? Tell us in the comments.
Generic Ozempic Is Finally on Canadian Pharmacy Shelves, at One Third the Price
Two Health Canada approved generic versions of semaglutide (the drug in Ozempic and Wegovy) started arriving at Shoppers Drug Mart and Rexall locations this week.
Apotex (Canadian made) priced its version at approximately one third the cost of brand name Ozempic, which can run as high as $450 a month.
Dr. Reddy's (Indian made) is already in select pharmacies with broader rollout this week.
If you pay out of pocket, you can likely ask your pharmacist today. Insurance and provincial formularies will take longer to catch up.
Have you been waiting on this? Tell us in the comments.
Ebola Touched Canada Twice This Week. Most People Have No Idea.
Two separate incidents brought the Ebola outbreak in Congo and Uganda right to Canada's doorstep Wednesday and Thursday.
An Ontario patient is being tested for Ebola after recent travel to East Africa. No confirmed cases. All infection control protocols are in place.
A Paris to Detroit Air France flight was turned away by the US and diverted to Montreal because a passenger had been in DR Congo. PHAC assessed the traveller as asymptomatic and they returned to Paris.
The WHO declared the Bundibugyo strain Ebola outbreak a global health emergency on Sunday. Nearly 600 suspected cases and 139 suspected deaths in Congo and Uganda.
Public health officials stress Ebola does not spread easily and both situations were handled correctly. But it is a reminder that global health stories land here faster than most people expect.
The IEA Just Said "Red Zone." Alberta Families Already Know That Feeling.
The head of the International Energy Agency warned Wednesday that global oil markets are heading for a red zone by July if the Strait of Hormuz does not reopen.
Over 1 billion barrels of oil have been lost since the blockade started in late February. Nearly 100 million more are lost every week it stays closed.
Iran's supreme leader said Thursday that enriched uranium must remain inside the country, a statement that complicated peace talks and pushed Brent crude back up to around $104.
The IEA says the single most important fix is a full reopening of the strait. Right now, that is not happening.
Every dollar Brent stays above $100 is money flowing into Alberta royalties and out of your gas tank at the same time. The two sides of this story both live here.
YOUR TURN 💌
The conversation keeps going over on Facebook after each issue drops. Come tell us where you stand on today's stories. All perspectives welcome.
Find us on Facebook: The Urban Brief Edmonton and Surrounding Areas
Edmonton local Weather
Day ⬆1° higher than historical avg, Night ⬆3° higher than historical avg.
🌤️ Edmonton Weather - Friday May 22th
Friday starts cool and a little unsettled in Edmonton and surrounding areas, with a chance of showers through the morning and afternoon and a high of 18°C. The good news is the evening clears right up to mainly sunny skies around 17°C, so if your plans are later in the day you should be just fine. Otherwise grab your raincoat on your way out, you just might need it.
$992 Billion in Art Could Change Hands. Why Are These 71,105 Investors Paying Close Attention?
Deloitte ran the numbers. They project UHNW art and collectibles wealth -- already at $2.5 trillion -- to hit $3.47 trillion by 2030.
The institutional world has been quietly preparing for this. Back in 2011, 25% of wealth managers surveyed offered art-related services. In 2024, 51%. Family offices now average a 13.4% allocation to art and collectibles.
And it’s not just because they love art. It’s because they like the math.
These positions were built over decades through private dealer relationships most investors never had. The access just wasn't there.
Masterworks is changing that by allowing individuals to invest in shares of blue-chip artwork by artists like Basquiat, Warhol, and Picasso. Their track record to-date:
71,000+ investors
$1.3B deployed across 525+ artworks
29 closed sales
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold.
Investing involves risk. Past performance is not indicative of future returns. See important disclosures at masterworks.com/cd.
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📅 Events Happening This Week in Edmonton
Friday May 22
🌸 The Fray – Summer of Light Tour 🎟️ Details
🗓 May 22 · ⏰ Evening · 📍 Northern Alberta Jubilee Auditorium, Edmonton
A live concert by The Fray.
🌸 Lakhwinder Wadali’s The Lajpalan Tour 🎟️ Details
🗓 May 22 · ⏰ Evening · 📍 Edmonton EXPO Centre
A Punjabi music tour stop in Edmonton.
🌸 DAYSEEKER: The Pale Moonlight Tour 🎟️ Details
🗓 May 22 · ⏰ Evening · 📍 Midway Music Hall, Edmonton
A rock concert at Midway.
🌸 The Stand Up Show: Bradley Fung 🎟️ Details
🗓 May 22 · ⏰ Evening · 📍 Grindstone Theatre, Edmonton
A stand-up comedy show.
🌸 Emo Night Edmonton 🎟️ Details
🗓 May 22 · ⏰ 9:30 PM · 📍 The Starlite Room, Edmonton
A late-night emo music party downtown.Frida
Saturday May 23
🌸 Beaumont Days 🎟️ Details
🗓 May 23 · ⏰ All day · 📍 Beaumont
Beaumont’s three-day community celebration.
🌸 Rainmaker Festival 🎟️ Details
🗓 May 23 · ⏰ Daytime · 📍 St. Albert
A family-friendly festival with activities and local programming.
🌸 Carmina Burana 🎟️ Details
🗓 May 23 · ⏰ Evening · 📍 Winspear Centre, Edmonton
A concert performance at the Winspear.
🌸 Salsa in the Square 🎟️ Details
🗓 May 23 · ⏰ 6:00 PM–8:00 PM · 📍 Sir Winston Churchill Square, Edmonton
Free downtown salsa lessons and social dancing.
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STORY CORNER 📖
The Bread on the Porch
There is a woman in Beaumont named Margaret who has lived on the same street for 31 years.
Every time a new family moves onto her block she bakes a loaf of sourdough, wraps it in a tea towel and leaves it on the porch with a handwritten note that says one thing.
"You picked a good street."
She has done it 23 times. She does not knock. She does not wait for a thank you. She just leaves the bread and walks home.
Her youngest daughter asked her once why she never stays to meet them.
Margaret thought about it for a second.
"Because the bread already said it," she said. "I just want them to know they are home."
This week Alberta is in the middle of the biggest conversation it has had in a generation. It is loud and it is heavy and it can feel like everything is up in the air.
But the thing that holds a community together is never the big vote. It is the bread on the porch. The wave from the driveway. The neighbour who just shows up.
You are on a good street. We all are.