US Port Strike Investing: Truflation CEO Weekly Dispatch for 30 September 2024

A Note from Founder & CEO - STEFAN RUST

It’s another huge week in the Truflation Nation. As usual, we’re building at breakneck speeds. 

On that note, as we continue to iterate, go ahead and try out our new tool, Index.fun. It’s your chance to take from all of our feeds and customize any kind of index you want, to track any kind of data you want. We believe something of its kind is the future, and if all goes well we’d like to make the more popular user versions immediately tradeable. For now, play with it and see if it brings you value. Your feedback is appreciated.

Strike!

By the time you’re reading this, no doubt the first US port strike in nearly half a century, from Maine to Texas, some 45,000 longshoremen have taken to picket lines. To put it mildly, the potential for supply chain disruption holds enormous consequences and are sure to be inflationary. This is the perfect time to be watching daily prices. This is the perfect time to have a tool like Truflation. 

In light of the ongoing port strike on the U.S. East and Gulf Coasts, certain sectors and companies could present investment opportunities despite all the doom and gloom.

West Coast Ports and Logistics: With the strike affecting East Coast ports, West Coast ports like Long Beach are experiencing increased activity. Companies involved in logistics and transportation on the West Coast may benefit.

Domestic Manufacturing: As imports face delays, domestic manufacturers not reliant on imported components may gain a competitive edge.

Technology and Automation: The strike highlights issues around automation in ports. Companies providing automation solutions could see increased interest.

Retailers with Stockpiled Inventory: Retailers that have proactively stockpiled inventory might avoid shortages and maintain sales, making them potentially stable investments.

Investing during a port strike could favor companies in logistics and shipping sectors. Logistics stocks like United Parcel Service (UPS), FedEx Corp. (FDX), and GXO Logistics might benefit as they provide alternative freight solutions1.

Container shipping companies such as ZIM Integrated Shipping Services, A.P. Moeller-Maersk, and Hapag-Lloyd are also well-positioned due to increased demand and tighter market conditions. Additionally, railroad operators like Union Pacific might see gains due to their intermodal capabilities. These companies are likely to experience increased demand as they offer alternatives to disrupted port services.

US Inflation Creep

As the above poll reveals, most in the Truflation Nation believe inflation is making a comeback. Again, this is why we exist – to get ahead of the curve, to find alpha before officialdom decides its time to be candid.

Regular readers of our highly-anticipated monthly Inflation Reports will recall how back in July we predicted an end-of-year rise. Once again, it pays and repays to make Truflation a meaningful part of your financial data diet.

Attack Update  

As you’ve no doubt heard, several Truflation team wallets were compromised through a sophisticated and targeted attack, using malware to bypass security measures. 

$5.6M in funds was taken. No user funds were compromised.  

While the size and nature of the attack are unfortunate, there are also several positives from this. As soon as the incident was detected, the Truflation team worked tirelessly to prevent further loss, ensuring smart contract security. 

We were able to, in a timely manner, reassure the community, engage with the hacker, and quickly follow the on-chain movement of assets, and reach out to law enforcement. The standard for Truflation is full transparency. Nothing changes: we will continue to do so as the investigation proceeds. 

We’re lucky to work with amazing partners and the best Web3 security specialists, analysts, and industry leaders. We cannot thank you enough for your support. We will publish a detailed post-mortem sharing our findings.

In the meantime, we are offering a $500,000 bounty (or reward) for the return of the stolen funds. The bounty is now open to the public (assuming the funds are not voluntarily returned), and the full amount will go to the person who is able to identify the hacker in a way that leads to conviction. 

While this incident is regrettable, it does not affect Truflation’s development or ability to implement forthcoming features including  the launch of new indices, mainnet launch, and the Truflation Stream Network. We’re full speed ahead, developing a marketplace for indexes and version 2 of our flatcoin project. 

We are especially grateful to the Truflation Nation, whitehats, partners and just friends for your tremendous support, so many have come out  generously offering their time and skills. Nobody wants to get hacked, and the people and community of Truflation are what elevates us, and motivates us to carry on. 

We may have been bruised by this incident, but what doesn’t kill you makes you stronger.

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