I woke up this morning blissfully unaware of the stockmarket.
That felt good.
When the market goes down, I feel awful all day.
When the market goes down, as it did big-time on Monday, I felt awful all day.
My mental status should not depend on something I can’t control.
My mental status should not depend on something I can’t forecast.
I shouldn’t try to control or forecast. Logic doesn’t work.
I remember vividly March 2020 when it became obvious that the world was coming to an end with the virus and the lockdowns. Then a dear, logical, super-smart friend decided to be super-smart and bought puts. Lot of them. Lots and lots of them. Long-term ones.
He was right. The economy was going to a hell and a handbasket. But the stockmarket wasn’t. Inexplicably, it went up. He lost a lot of money.
Look at this two-year chart of Nasdaq.
Look at that big drop in March last year. The Covid Drop. Then, despite the virus and the economy worsening, the market came roaring back.
There have been three bounce-downs since then. Two we came back from. The third we’re living in now. We’ll bounce out of it soon. Tech stocks will come roaring back. That’s a prediction.
If you feel uncomfortable with pure tech, buy some DIS. What with streaming movies and opening theme parks, you’ve got a great positive combo. Thank you, Hugo, 24, for the heads-up on Disney.
Why I don’t like funds
1. They never end.
2. Even if you could understand the fees, you’ll be wrong, and too low.
3. The fees never end.
4. You have no control over what they invest in, despite what they said up front.
5. Over time, their management and ownership will change, for the worse.
6. Their reporting will get increasingly sloppy over time. They’ll be late and inexplicable.
7. The worst: You can’t get out.
These comments don’t apply to mutual funds. But they do apply to everything from hedge funds to private equity funds to distress funds, etc.
Donald Trump no longer loves Mitch McConnell
Writes Trump:
+ Mitch is a dour, sullen, and unsmiling political hack…
+ McConnell’s dedication to business as usual, status quo policies, together with his lack of political insight, wisdom, skill, and personality, has rapidly driven him from Majority Leader to Minority Leader, and it will only get worse…
Amazing venom! Great words. Read more: Click here.
This is granddaughter Zoey
Her mother wouldn’t give her a cookie.
Zoe asked “Because of the virus?”
Favorite cartoon
It’s time to catch up on K1s.
See you tomorrow, when we’re scheduled to play tennis outside. It will be 60, bright blue sky and no wind. A beautiful gift. Thank you. –– Harry Newton
