![\"WallofWorry\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2014\/10\/WallofWorry.jpg\")
<\/a><\/p>\nSays UBS,<\/p>\n
This is a Harry’s “trendline,” which I just drew. Doesn’t look so good. Notice the S&P 500 has just busted through my trendline:<\/p>\n The fears are:<\/p>\n + Slowing Europe, especially Germany.<\/p>\n + Slowing Asia, including Japan and maybe China.<\/p>\n + Irrational Russia.<\/p>\n + Lower oil prices, and whatever that means for slowing industries that use oil and the industries that make it.<\/p>\n + Ebola.<\/p>\n + Slowing US business that does business with the above slowers. (New word)<\/p>\n \u00a0We’ve learned three things from this downdraft:<\/p>\n + All stocks go down together. When it’s a bad day, they’re all red. Look at CNBC’s “heat map.” A blaze of red boxes. <\/span><\/strong>In short, hard to hide. + It’s extraordinarily dumb to own mutual funds. You have to wait until the end of the day to sell the stuckers. By then you could thousands out of pocket. My highly-recommended FMILX has been a disaster. (It’s gone from my list.) I wanted to sell it Friday lunchtime. But I had to until after the close. What an idiocy owning mutual funds when there are a zillion ETFs that do the same thing, charge the same fees and are saleable from one moment to another. So don’t buy mutual funds.<\/p>\n + All the bad news is delivered on TV by gorgeous women. If I were running a TV network, I’d keep the gorgeous ones for good news and the hags for bad news. How about these two for last Friday, when it was really scary?<\/p>\n \u00a0 Few stocks are “cheap,” yet. Maybe Delta is an exception?<\/p>\n Fidelity tells me Delta’s P\/E\u00a0 is 2.6 and yields 1.09%.<\/p>\n I’d like to spend a day at Kennedy Airport and ask everybody getting off a Delta plane how full the plane was? Susan just came back from Portland, Oregon on Delta and she said it was “awful.” There wasn’t a spare seat in the whole plane.<\/p>\n Bad for her. Good for us.<\/p>\n I don’t have the time to spend tagging\u00a0 passengers at JFK. Anyone have flown Delta recently? Anyone had a good, miserable flight?<\/p>\n Bill Gross’s old Pimco Total Return Bond Fund: <\/strong>I hate this mutual fund stuff. Got to spend half your life figuring out which class for you. One for class for Christians, one class for Jews, one class for white people living in green houses. This is “class” stuff with mutual funds is total insanity. Stick with ETFs. One class for all. And easy to sell or buy.<\/a><\/p>\n<\/a><\/p>\n
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