Yesterday’s four hour dentist appointment knocked me around. Dentists are not good for clear thinking. Nor their bills.
I asked one if my teeth were a “disaster.”
He surveyed them and said “No, they’re actually an annuity.”
Yesterday I asked Dr. Mac why he was working on a different tooth.
He answered, “for revenue purposes.”
The market is up a little today. A nice respite from the pain on the left side of my mouth.
I’m surveying stocks I own with high P/Es, which have dropped quite a bit and have dubious prospects. And I’m selling them. Not many of these left.
I suspect that this market will increasingly favor “value” stocks, like LMT, ALK, HD, V and VZ.
But predicting this market is on the same level of science as predicting which of my teeth will collapse next? (Answer: any and all.)
Frankly, I’d rather be some place else — looking at Half Dome — instead of looking at my stock screen.
China is now closed until Monday to celebrate the 70th anniversary of Japan’s surrender in World War II. That will remove some of the recent China stock madness — at least for now. I bet they wouldn’t try invading China today. How things change!
Maybe next Monday, things will magically get sane. And my teeth will stop hurting.
These insanities do tend to return to normal eventually.
I called my buddy, the real estate syndicator genius, and asked “Where now?”
You may remember he was the fellow who called his broker a couple of months ago and said “Sell everything I own.”
She objected. They settled on half. He was right.
So where now, I asked?
He said he had “no clue.” But he was getting a little sick of the craziness.
“Imagine,” he said, “if I called you today and said that nice building we owned was now worth 20% less. And then, tomorrow, I called you and said it was now worth 30% more.”
“It’s the same building. The same long-term lease tenants. The same expenses.”
Let’s not drive ourselves nuts.
Harry Newton, who is now in Indian Wells, California where it’s 105. But it’s a “dry heat.” Hence, you don’t feel it. And pigs will fly?
It could have been a lot worse.Remember this famous scene?
My dentist always says to me: “Is It Safe? Is It Safe?” Good movie!
Sailing on the lovely breezy San Francisco Bay is a delightful way to also test some of Calif.’s best wine while hanging around fun people. Better than crazy NY and a lot cooler than the desert 105 degrees.
Oil cartel can’t hold a candle to the dental cartel, organized crime on steroids.