Yesterday: Weird. The Fed says the economy is great. It raises rates a tiny bit — a quarter of one percent — which everyone knew it was going to do. And the market croaks. This is Nasdaq:
I suspect it’s temporary.
You’re telling me that someone would actually sell their Amazon, Apple or Netflix shares to invest in a savings account at Capital One earning 1.85% or a two-year CD earning the grand sum of 2.60%. They’re the highest according to BankRate
There are three things this blog — InSearchOfThePerfectInvestment — can do for you (my readers) and me (the writer). Namely:
+ Keep us out of drecky stocks (spelling?),
+ Put us into happy stocks, those that go up, (more about picking them tomorrow) and
+ Stop us from panicking.
I’ve made lists for everyone of vast areas I don’t like — commodities, emerging and overseas non-emerging markets, cryptocurrencies/blockchain, cannabis/marijuana, retailers without proprietary products (like Bed Bath and Beyond), venture funds, hedge funds, distress equity funds…
There are dangers in this: I miss fleeting explosive booms — bitcoin, marijuana, etc.
But these things often explode and then implode just as quickly. I don’t have the timing skills.
Also the hype in the media makes me sick — though I recognize the media’s job is hype. That’s how it gets viewers and sells ads for dubious products like Prevagen and gold coins.
Here are three predictable drecky stocks. I didn’t short them. Why not? Because it’s hard. I send much time time agonizing over hotness. I can’t run two opposing thoughts in my tiny brain. Which is another reason I’m opposed to long/short hedge funds. You just can’t have it both ways.
Most useful tools.
Yesterday I used them to tighten my glasses, tighten the door hinges (the door now closes) and replace a hard drive in a laptop.
The one on the left is a baby one — $9.97. Click here.
The one on the right is for normal screws. About $8. Click here.
Two screwdrivers. Best investment you’ll ever make.
Drop your cell phone on a plane
+ If you drop your cell phone into your plane’s seat, don’t fish for it. Call for an attendant. Phones can get crushed by the seat’s mechanism and burn up. I don’t make this up. It’s happened several times.
This week’s favorite New Yorker cartoon
Harry Newton, who preaches “In every investment, there’s always a gotcha.” I love this one: We are parking in 15 Central Park West, arguably the most expensive apartment building in Manhattan. It was (or maybe still is) a Goldman Sachs building. They raised the prices of the apartments 19 times on the plan — before it was even built. Lloyd Blankfein of Goldman has an apartment here. Our parking space is cheap. Why because there’s no demand from the building. No one drives or parks their own car (except us). Everyone has their own driver! Gotcha. the garage is half empty.
We fixed the email software. Fingers crossed. If you’re missing columns, they’re all on the web. Click here.
