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If you sell, you’ll be wrong. If you buy, you’ll be wrong. Hence two excellent arguments for doing absolutely nothing.

If you sell, you’ll be wrong. In one hour, your sold stock will have gone up.

If you buy, you’ll be wrong. In one hour, your bought stock will have gone down.

Hence, there’s an excellent argument for doing absolutely nothing.

To my confused brain, it seems the market is as confused as I am.

It does down bigtime (like yesterday and today) then it rebounds up.

I think it’s awaiting the Fed’s learned words tomorrow afternoon.

I know one thing: Given all headwinds, the economy is doing very well.


+ Our stocks will be fine later this year, when this downturn blows over. Which it will.

+ The major area our portfolio is weak in is oils. As I’ve written, oil is going over $100. I now own CVX, DVN,  and XOM.

None of this obviates my golden rule of selling companies whose competitive situation has changed dramatically. The classic company is Netflix which now faces a zillion more streaming competitors than it did a couple of years ago.

There are others but I’m not going to bore you with them again today.

There are others being beaten down for no reason — like Nvidia.

Take a nap. Go for a walk. Play tennis (if your shoulder can take it).

The story of California Brad

Brad lives in California. He was sick of the world, of Covid, Russian warring against Ukraine, China warring against Taiwan, global warming, racial tensions, and the rest of the awful stories that hog the headlines.

Brad drove his car into his garage and then sealed every doorway and window as best he could. He got back into his car and wound down all the windows, selected his favorite radio station, started the car and revved it to a slow idle.

Two days later, a worried neighbor peered through his garage window and saw him in the car. She call emergency services and broke in. They pulled Brad from his car.

A little sip of water and, surprisingly, he was in perfect condition. His Tesla had a flat battery.

Favorite cartoons

Nasdaq five days

Nasdaq over the last two days (including today)

Two days looks much more positive.  But it’s the same Nasdaq.

Charts are fun.

Heh, as I send this blog out, I’m losing less than half of what I was “losing” early this morning. The reason? I took a nap. I needed to. I watched too much Australia Open Tennis in the middle of the night. Australia is 16 hours ahead of us. Nadal is amazing.

See you tomorrow. — Harry Newton