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Is the market too high? Here’s what you can do.

Friends believe the market is too high.

They are pushing me to sell some stock, take a profit and wait for the decline they see coming.

My preference is fourfold:

+ Sell stocks that aren’t working, like IIVI.

+ Buy cheap stocks. HD is cheap. The market overreacted to a perfectly fine earnings report.

+ Daytrade stocks for small profits, but big fun. I made a little money day-trading Boeing today and yesterday. It follows a somewhat predictable pattern. Some friends make a handsome living doing this — but with much larger holdings. I was playing with lots of 100 and 200 of Boeing. I’m sort of learning.

+ Do nothing with the stocks you really love, like Apple. Apple is having a press conference in New York on December 2. I’m trying to wrangle an invitation.

Two of us shorted Boeing this morning. I covered quickly and made a few bucks. But my friend, Fred, shorted and held. Guess what happened? He got rewarded with a drop an hour later in Boeing (because the NTSB wants Boeing to redesign the 737s). He covered on the dip. Look what happened. he covered and took the present.

Three banks in America have gone bust within the past month
Failed lenders are small but watch out for more US banks piling up on the scrap heap

From the Financial Times: Click here.

Lloyd Blankfein is brilliant

Lloyd Blankfein (ex-CEO of Goldman Sachs) was interviewed on CNBC’s HalfTime Report. He was brilliant. The interview is long and worth watching every second of it. I’m sure we’ll find it later today on or YouTube or somewhere.

For now, I leave you my favorite Blankfein quote. He was asked are markets too high? Are we facing another financial disaster? He said he didn’t see an immediate one. But 80% of the people out there will think Goldman predicted the crisis when. it comes And the other 20% will think Goldman caused it!

This is totally insane.

I just received this email:


+ There is no Newton Llc.

+ It doesn’t need $255,437.

+ I don’t know Jamie Greene from a hole in the ground.

But I AM flattered he (or she) is willing to lend me money at such a cheap rate.

Dear reader, if you have nothing to do, call Jamie Greene and ask which child I have to mortgage to get the money?

…This is getting stupider and stupider. Just now, someone called Anthony DeAngelis emailed and wants also to lend me money:

His phone number is 646-480-4886. Call him and tell him to send me crisp unmarked $100 notes.

Heady Optimism

Today Vanity Fair sent me a renewal subscription.

My present subscription expires April 2021.

Travel Stuff

+ If you can’t get onto a WiFi, turn it off and stay with cellular data. Otherwise your phone will keep preferring WiFi and delay you. Remember to turn the WiFi on later.

+ How to Avoid Huge Taxes and Fees When Cashing in Frequent Flier Miles. Some airlines charge bigtime. Some don’t. From Conde Nast, click here. 

+ 11 Credit Cards That Cover the Cost of Global Entry and TSA PreCheck. From Conde Nast, click here.

Favorite bumper sticker

Spied last weekend in Hillsdale, New York outside the fashionable Hillsdale Diner on the back of a Subaru Outback:

Claire in my favorite black Mary Janes

Taken in the good old days with Kodak Tri-X film and a Nikon camera.

The vertical lines are courtesy the Fujitsu scanner.

What book could possibly sell 34 million copies?

This book, according to its cover:

This book’s message: Skip your life on earth. There’s nothing you can do about your life here. Your reward will be in Heaven.

It repeats that theme a zillion times. You can “read” the book 30 minutes.

Here are a few choice quotes:

+ It is not fate, nor chance, nor luck, nor coincidence that you are breathing at this very moment. You are alive because God wanted to create you! The Bible says, “The LORD will fulfill his purpose for me.”

+ The only thing that will matter is, did you accept what Jesus did for you and did you learn to love and trust him? Jesus said, “I am the way and the truth and the life. No one comes to the Father except through me.”36 God wants you to get to know, love, and trust his Son, Jesus, whom he sent to earth to show us what God is like and to forgive and save us.

+ Just as the nine months you spent in your mother’s womb were not an end in themselves but preparation for life, so this life is preparation for the next.

+ Your time on earth is not the complete story of your life. You must wait until heaven for the rest of the chapters.

All 34 million are undoubtedly Trump supporters. It was brilliant of him to target those millions.

New York’s best tourist trip

During the week I play tennis at the Roosevelt Tennis Club. to get there, I ride I the Roosevelt Island Tram — the only aerial tramway in New York City.

Here’s what the view looks like at 7:00 AM.

That’s the 59th Street bridge on the right made famous by Simon & Garfunkel in their wonderful song.

— See you tomorrow. — Harry Newton








  • Jeff Rush

    this latest Rick Warren book may be a marketing scheme but the book, “Purpose Driven Life,” is one of the best Christian books ever written. It details how God created you, and He did so with a purpose. See Jeremiah 29:11. You won’t get to heaven unless you truly understand Warren’s real masterpiece.

  • Mike Nash

    The Rick Warren book is absolute rubbish…a memorial is being held for Toby Bugfoot in Central Park either this Thursday or Friday night. I’ll post details as soon as I know. It’s nothing formal, just a couple dozen friends and family members gathering in the twilight to remember a man who accomplished so much at Goldman Sachs and later at his own firm during his brief 49 years on the planet.

  • Len

    Harry, your daughter Claire is adorable. You are blessed!