Many TV talking heads think inflation has been conquered. The Fed will ease on rate increases.
And the stockmarket is off to the races.
Buy what you like — Nvidia, Apple, Amazon. Taiwan Semiconductor, Tesla, etc.
Industries to buy because of what’s actually going on are coal, uranium, energy and defense. I own XLE, an energy ETF.
You could also buy VGT, a tech stock ETF. It’s bounced a little recently. Here’s its latest three months:
I’ve been short VGT.
You can still get 4.57% on a safe one-year U.S. Treasury.
My happiest readers believe the solution to the world’s problems is Dollar Cost Averaging. They don’t care what their portfolio is doing from month to month. They know that in ten years, it will be up substantially.
And they’re right.
Lessons from the FTX crypto blowup
I was right to stay away from crypto currencies, like bitcoin:
Most investments derive their basic value from earnings and growth.
If there are no earnings and no growth — as in crypto — currencies — then fantasy, sentiment, enthusiasm and hype kick in.
When bitcoin hit $60,000, I heard it was going to $250,000. It hasn’t, so far.
When someone gets rich quickly — too quickly — their fall often comes even more quickly. The cause — huge chutzpah. As in “I’m a genius, anything I touch will turn to gold.”
I could write a book on all the fund managers who did well — for a while. Then they took one gamble too many. And it all blew up.
Nothing has fallen as fast as Sam Bankman-Fried’s cryptocurrency exchange FTX. It could have more than a million creditors. That’s a lot of gullible “investors.”
When in doubt, stay out. Todd’s favorite expression.
Read more on Sam’s blowup (if you really want to)
+ From $32 billion to criminal investigations: How Sam Bankman-Fried’s crypto empire vanished overnight. Click here.
+ Embattled Crypto Exchange FTX Files for Bankruptcy,
The announcement capped a stunning week that has shocked the crypto industry. Click here.
Life changes
Imagine the joy. You’ve just been awarded an exclusive on luggage carts at JFK Airport — one of the biggest airports in the world. $5 a 15 minute rental. Wow.
An annuity for life. Put your kids and grandkids through college.
Until someone invented:
And your business just rolled out the door.
The Pony Express lasted only 18 months before the telegraph hooked up the west coast.
My father used to say “Take a little money home, just in case.“
Talented son Michael won a room in Cancun for a week
He invited Susan and me. All we had to do was to get there. JetBlue from JFK was efficient and four hours. Not cheap.
We stayed at the Vidanta resort. An amazing 1,000+ acres with everything from pools, to “thrill” rides, to zillions of restaurants, to golf, to tennis, to animals (iguanas, crocodiles, coatis and birds).
I liked the place. This is grandson Peter and friend, poolside:
This is a cute short video I did with my iPhone 13, Watch it to the end.
I’m guessing they’re a couple.
Wonderful cartoons
My joy
It’s a labor of love finding and publishing funny cartoons.
If you have any favorites, please send them my way.
I should be back tomorrow, now I’ve returned to wet and snowy “civilization.”
— Harry Newton
