{"id":13582,"date":"2012-06-18T09:07:05","date_gmt":"2012-06-18T13:07:05","guid":{"rendered":"http:\/\/www.technologyinvestor.com\/?p=13582"},"modified":"2012-06-18T09:22:52","modified_gmt":"2012-06-18T13:22:52","slug":"politics-and-more-politics-markets-up-and-down-and-entirely-unpredictable-stay-flexible-stay-a-little-long-and-a-little-short-and-lots-of-cash-long","status":"publish","type":"post","link":"https:\/\/www.technologyinvestor.com\/?p=13582","title":{"rendered":"Politics and more politics. Markets up and down. And entirely unpredictable. Stay flexible, my friends. Cash is King."},"content":{"rendered":"

The Greeks voted to stay in Eurozone. That’s good.<\/p>\n

They will still have to be bailed out. That’s bad.<\/p>\n

The Spanish, the Italians, and soon the French, are in miserable shape. They’ll\u00a0 need bailouts. Big ones. Where will the money come from? Will it be enough to calm fretting markets? Your guess is as good as mine.<\/p>\n

Europe was excited when the pro-bailout Greek party\u00a0 won. But “Markets Relief Fades at Greek Election Results<\/em>” headlined today’s\u00a0 New York Times.<\/strong><\/a><\/p>\n

IN this global mess, the best strategy is to<\/p>\n

+ Pick stocks with no exposure to Europe, e.g. Con Edison:<\/p>\n

\"\"<\/a><\/p>\n

+ Stay in cash.\u00a0 Maybe your favorite stock will plummet and you can pick it up cheap. Maybe. These markets are not easy. Every hedge fund and his uncle went short the Euro last week in anticipation of a messy Greek election The good guys won and the Euro is up! There’s a lot of ashen faces this morning in Greenwich, CT.<\/p>\n

+ Keep your stops ultra tight — no more than 6%,<\/p>\n

+ Pick some obvious shorts. You have my list. You might find fodder in recent IPOs, most of which have not done well, viz, this chart and words from Business Inider:<\/p>\n

The Wall Street Journal reported that the Facebook IPO was not the most disastrous IPO of all time from a first-month perspective.<\/p>\n

It was the third worst.<\/p>\n

But we wanted to see how Facebook stacked up against other companies who saw market caps erased as stocks plummeted.<\/p>\n

Of all issuances that raised more than $1 billion in the U.S., only Giant Interactive and United Microelectronics fared worse.<\/p>\n

Another big firm that withered over its first calendar month (about twenty trading days): MF Global, which in 2007 was spun off from Man Group.<\/p>\n

Below, the worst first month IPO performance.<\/p>\n

\"\"<\/a><\/p>\n

A Business Insider reader chimed in with his list, writing:<\/p>\n

IPOs over the last year have been garbage. What am I supposed to invest in Dunkin Donuts and Zillow and GNC. These stocks are crap. Name 1 or 2 things I should pick from this crap list.<\/p>\n

Synacor, Inc. (SYNC)
\nEllie Mae, Inc. (ELLI)
\nGNC Holdings, Inc. (GNC)
\nLinkedIn Corporation (LNKD)
\nProto Labs, Inc. (PRLB)
\nTangoe, Inc. (TNGO)
\nMichael Kors Holdings Limited (KORS)
\nSplunk Inc. (SPLK)
\nAnnie’s, Inc. (BNNY)
\nNewLink Genetics Corporation (NLNK)
\nGuidewire Software, Inc. (GWRE)
\nDemandware, Inc. (DWRE)
\nAmerican Realty Capital Trust, Inc. (ARCT)
\nThermon Group Holdings, Inc. (THR)
\nDunkin’ Brands Group, Inc. (DNKN)
\nZillow, Inc. (Z)
\nFrancesca’s Holdings Corporation (FRAN)
\nSpirit Airlines, Inc. (SAVE)
\nMattress Firm Holding Corp. (MFRM)
\nImperva, Inc. (IMPV)
\nGreenway Medical Technologies, Inc. (GWAY)
\nVocera Communications, Inc. (VCRA)
\nTesoro Logistics LP (TLLP)
\nOiltanking Partners, L.P. (OILT)
\nInvenSense, Inc. (INVN)
\nClovis Oncology, Inc. (CLVS)
\nWageWorks, Inc. (WAGE)
\nEPAM Systems, Inc. (EPAM)
\nNationstar Mortgage Holdings Inc. (NSM)
\nFX Alliance Inc. (FX)
\nCVR Partners, LP (UAN)
\nBazaarvoice, Inc. (BV)
\nJive Software, Inc. (JIVE)
\nBrightcove Inc. (BCOV)
\nCaesars Entertainment Corporation (CZR)
\nAcquity Group, L.L.C. (AQ)
\nGolar LNG Partners LP (GMLP)
\nDelphi Automotive PLC (DLPH)
\nYelp Inc. (YELP)
\nVantiv, Inc. (VNTV)
\nIgnite Restaurant Group, Inc. (IRG)
\nLaredo Petroleum Holdings, Inc. (LPI)
\nChemoCentryx, Inc. (CCXI)
\nTudou Holdings Limited (TUDO)
\nRoundy’s, Inc. (RNDY)
\nBankrate, Inc. (RATE)
\nChefs’ Warehouse Holdings, LLC (CHEF)
\nRose Rock Midstream, L.P. (RRMS)
\nInergy Midstream, L.P. (NRGM)
\nAmerican Capital Mortgage Investment… (MTGE)
\nCempra Inc. (CEMP)
\nAudience, Inc. (ADNC)
\nRetail Properties of America, Inc. (RPAI)
\nEnphase Energy,A Inc. (ENPH)
\nManning & Napier, Inc. (MN)
\nRentech Nitrogen Partners, L.P. (RNF)
\nSagent Pharmaceuticals, Inc. (SGNT)
\nExactTarget, Inc. (ET)
\nProofpoint, Inc. (PFPT)
\nRexnord Corporation (RXN)
\nInfoblox Inc. (BLOX)
\nMid-Con Energy Partners, LP (MCEP)
\nGSE Holding, Inc. (GSE)
\nEverBank Financial Corp (EVER)
\nNGL Energy Partners LP (NGL)
\nAngie’s List, Inc. (ANGI)
\nCaesarstone Sdot-Yam Ltd. (CSTE)
\nSTAG Industrial, Inc. (STAG)
\nMerrimack Pharmaceuticals, Inc. (MACK)
\nTumi Holdings, Inc. (TUMI)
\nForum Energy Technologies, Inc. (FET)
\nMidstates Petroleum Company, Inc. (MPO)
\nAG Mortgage Investment Trust, Inc. (MITT)
\nSelect Income REIT (SIR)
\nMillennial Media, Inc. (MM)
\nVerastem, Inc. (VSTM)
\nFusion-io, Inc. (FIO)
\nRLJ Lodging Trust (RLJ)
\nMRC Global Inc. (MRC)
\nThe Carlyle Group, L.P. (CG)
\nHome Loan Servicing Solutions, Ltd. (HLSS)
\nThe Active Network, Inc. (ACTV)
\nWestern Asset Mortgage Capital… (WMC)
\nApollo Residential Mortgage, Inc. (AMTG)
\nSanchez Energy Corporation (SN)
\nTilly’s, Inc. (TLYS)
\nEdwards Group Limited (EVAC)
\nAres Commercial Real Estate Corporation (ACRE)
\nBonanza Creek Energy, Inc. (BCEI)
\nWesco Aircraft Holdings, Inc. (WAIR)
\nAmerican Midstream Partners, LP (AMID)
\nMemorial Production Partners LP (MEMP)
\nResponsys, Inc. (MKTG)
\nRegional Management Corp. (RM)
\nM\/A-COM Technology Solutions Holdings,… (MTSI)
\nUbiquiti Networks, Inc. (UBNT)
\nEnvivio, Inc. (ENVI)
\nOaktree Capital Group, LLC (OAK)
\nSunCoke Energy, Inc. (SXC)
\nVipshop Holdings Limited (VIPS)
\nPetroLogistics LP (PDH)
\nTMS International Corp. (TMS)
\nErickson Air-Crane Incorporated (EAC)
\nCarbonite, Inc. (CARB)
\nTeavana Holdings, Inc. (TEA)
\nMatador Resources Company (MTDR)
\nAllison Transmission Holdings, Inc. (ALSN)
\nTranzyme, Inc. (TZYM)
\nArcos Dorados Holdings Inc. (ARCO)
\nDigital Domain Media Group, Inc. (DDMG)
\nAVG Technologies N.V. (AVG)
\nCafePress Inc. (PRSS)
\nLRR Energy, L.P. (LRE)
\nCeres, Inc. (CERE)
\nAir Lease Corporation (AL)
\nYandex N.V. (YNDX)
\nHomeStreet, Inc. (HMST)
\nEnduro Royalty Trust (NDRO)
\nEdgen Group Inc. (EDG)
\nBoingo Wireless, Inc. (WIFI)
\nFacebook, Inc. (FB)
\nRenewable Energy Group, Inc. (REGI)
\nRPX Corporation (RPXC)
\nSkullcandy, Inc. (SKUL)
\nPandora Media, Inc. (P)
\nPreferred Apartment Communities, Inc. (APTS)
\nGasLog Ltd. (GLOG)
\n21Vianet Group, Inc. (VNET)
\nU.S. Silica Holdings, Inc. (SLCA)
\nBox Ships Inc. (TEU)
\nCompressco Partners, L.P. (GSJK)
\nIntermolecular, Inc. (IMI)
\nNetQin Mobile Inc. (NQ)
\nSolazyme,A Inc. (SZYM)
\nC&J Energy Services, Inc. (CJES)
\nKosmos Energy Ltd. (KOS)
\nZynga Inc. (ZNGA)
\nZipcar, Inc. (ZIP)
\nGroupon, Inc. (GRPN)
\nFreescale Semiconductor Holdings I, Ltd. (FSL)
\nChina Zenix Auto International Limited (ZX)
\nTaomee Holdings Limited (TAOM)
\nKiOR, Inc. (KIOR)
\nVanguard Health Systems, Inc. (VHS)
\nHorizon Pharma, Inc. (HZNP)
\nJiayuan.com International Ltd. (DATE)
\nPhoenix New Media Limited (FENG)
\nZELTIQ Aesthetics, Inc. (ZLTQ)
\nRenren Inc. (RENN)
\nLone Pine Resources Inc. (LPR)
\nSequans Communications S.A. (SQNS)
\nFriendFinder Networks Inc. (FFN)<\/p>\n

How they solved their problems.<\/strong><\/span><\/p>\n

1. No reception in the rain?<\/span>
\n<\/strong><\/span><\/p>\n

\"\"<\/a><\/p>\n

2. Run out of diapers?<\/p>\n

\"\"<\/a><\/p>\n

3. Cables falling behind your desk?<\/p>\n

\"\"<\/a><\/p>\n

\"\"<\/a>
\n<\/strong><\/div>\n

Harry Newton who is leaving this evening for a family wedding in Ireland, where it’s raining and cold! Instead of sunhats and suncream, we’re packing waterproof jackets and Goretex waterproof shoes.<\/p>\n

My next column will be next Monday, June 25.<\/p>\n

Muni bonds (VWALX) and American high-dividend yielders like Con Edison and AGNC are working. It ain’t easy. I can do with a few days in the rain.<\/p>\n

After messing up today’s headline several times, Todd calls and says I don’t need any help looking like an idiot.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Greeks voted to stay in Eurozone. That’s good. They will still have to be bailed out. That’s bad. The Spanish, the Italians, and soon the French, are in miserable shape. They’ll\u00a0 need bailouts. Big ones. Where will the money come from? Will it be enough to calm fretting markets? Your guess is as good […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13582","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=\/wp\/v2\/posts\/13582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13582"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=\/wp\/v2\/posts\/13582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyinvestor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}