Pay no attention to your portfolio. It’s end of the year. And it’s doing weird things.
Every portfolio manager is trying to make himself look brilliant by owning all the “right” stocks on December 31. It’s called marketing.
The right stocks include Apple, Amazon, Peloton, Roku and a bunch of other famous companies that did well in 2020.
That means the money manager with a need to impress buys the right stocks now and finances his buys by selling ones he’s done well on — but nobody has heard of, e.g. PLUG, ENPH, CRWD, QRVO and GNRC.
If you have a mind, pick up a few bargains, e.g. SQ, GNRC, SEDG, ENPH, CRWD, PTON and OKTA.
Maybe. Keep reading.
The reality is that many of the stocks which we’ve bought in our portfolio are way-overpriced by all conventional measures — even the new measures like price to sales (instead of price to earnings).
We’ll be looking at this in coming days. For the moment.. Zoom?
The Depressing Covid News
+ One in every 1,000 Americans has died from Covid.
+ Regardless of where you are when you are out in public, someone virus positive is near you.
+ You and I can’t get the vaccine for love nor money. This is insane. Hopefully Biden with invoke the Defense Production Act and get other pharma and biotech companies to make vials and vials of the stuff, and get it into my family’s arms.
+ The holidays are the worst for becoming infected. Masks actually do work. But there’s still a lot of people who go into stores without them. It’s not too late to develop xenophobia. Books, blogs and movies won’t infect you — unless you’re reading and watching the wrong ones.
Simple tips
+ Bombas socks are remarkably good, and remarkably expensive. Thank you Georgia for my Christmas present.
+ It’s always the cable, the batteries or rebooting. If something goes awry, you have three choices — the cable, the batteries or rebooting.
If rebooting, give the device at least a minute to clear its confused memory.
+ Generac backup generators really work. Ours saved our live over the weekend when a big tree fell and knocked down our power cables on Friday.
+ DocuSign is the greatest tool to sign deals. Replaces last year’s favorite tool — a Fujitsu scanner.
This may not end well
The more I look at it, the more I laugh.
Husband demonstrating his “competence” to wife
Wonderful sign
Finally, a correct diagnosis
The Lasting Lesson of John Conway’s Game of Life
Fifty years on, the famous mathematician’s best known (and, to him, least favorite) creation confirms that “uncertainty is the only certainty.”
When I raised the idea of stock prices being too high, my dear friend commented,
“I don’t even pretend to understand what’s going on right now. I’m focused on not getting sick until my vaccine hits.”
More on all this tomorrow. — Harry Newton
