![\"AmazonYTD\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2015\/10\/AmazonYTD.jpg\")
<\/a><\/p>\nGoogle, to its credit, has learned how to sell mobile search — selling ads on smartphones, and selling ads on YouTube, which it owns.<\/p>\n From today’s new York Times story on Google:<\/p>\n Google’s third-quarter revenue increased 13 percent from a year ago to $18.7 billion, and was up 21 percent without currency fluctuations. Net income in the third quarter was $4 billion, compared with $2.7 billion a year ago. Company executives highlighted strong growth in mobile search, noting that mobile search queries now outnumbered those on desktop, as well as in YouTube, the video site.<\/p>\n “Products like Search, Android, Maps, Chrome and YouTube each have over a billion users already, and Google Play crossed that milestone this quarter as well,” said Sundar Pichai, Google’s new chief executive. “But what’s most exciting is that we’re just beginning to scratch the surface.”<\/p>\n If you’re looking to pick up one of these Big Techs — AMZN, MSFT or GOOGL — Google seems the best best.<\/p>\n Was this a normal bull market correction?<\/strong> S<\/span>even weeks ago, Jeremy Zirin, Chief Equity Strategist at UBS, did a piece he called, “What if this is a “normal” bull market correction?<\/em><\/p>\n His thesis was simply:<\/p>\n \u00a0Corrections happen more frequently than you might think during bull markets (22 times since 1940)<\/p>\n \u00a0Fast forward seven weeks. He plotted three lines on the chart below:<\/p>\n Historical S&P 500 drawdowns greater than 10% Note: Due to the varying timing and length of the historical 10% market drawdowns, the “average” line mutes the magnitude of the typical peak-to-trough market decline in the three month period leading up to the “10% drop” threshold. Source: Bloomberg and UBS, as of 21 October 2015<\/p>\n \u00a0Zirin concludes “Only time will tell if our thesis will continue to play out. But over the past few weeks, most of the developed market economic and corporate profit data flow has been more consistent with slowing, but non-recessionary growth rates. And graphically speaking, at least for the first few weeks following the 12.4% drawdown, the S&P 500 price chart is looking a lot more like a “bull market correction” than an emergent bear.”<\/p>\n So, there’s the positive “news. Here’s The S&P 500 year to date. It’s coming back and with last night’s news from Microsoft, Amazon and Google, we are seeing more gains today.<\/p>\n UBS got it right. I didn’t. I fall into panic mode too easily. My Facebook has done well. It’s over $100.<\/p>\n Pandora is down 36% this morning after a lower guidance for Q4. <\/strong>Friends see P now a bargain. They say they will be in the market buying. One wrote me last night: I do know that and expect they will come back over time and go much higher over the next year. \u00a0Of course a lot still depends on how the CRB (Copyright Royalty Board) rules in December. If that is really bad then it will go lower, but that is not my base case and I believe, as Pandora said on their conference call, that the outcome will be manageable for them and they will continue to grow their bottom line. Their fundamental business is strong (read what they said on their conference call.) I do believe the reasons that they gave for their lower guidance for 4Q which is why the stock is selling off) and their purchase of Ticketfly gives them a great growth opportunity in a very profitable business.<\/p>\n I’m no longer short Volkswagen.<\/strong><\/span> Maybe I should? Everything I read suggests the software fraud will prove devastating. And the latest headline this morning reads “Volkswagen is investigating if diesel emissions deception was more extensive.”<\/p>\n PDF-Xchange Viewer is a really good piece of software.<\/strong><\/span><\/p>\n It lets you read, fix, create, edit and annotate PDF documents. It costs $43.50 and is worth every penny. It is far better, easier to use and cheaper than the garbage Adobe sells. Buy your PDF-Xchange Viewer here.<\/strong><\/a><\/p>\n My new job. Please. Please. Please.<\/strong><\/span><\/p>\n This is Julie Larson-Green. She is Microsoft’s “Chief Experience Officer.”<\/p>\n I didn’t make the title up. It’s real.<\/p>\n Fast Company<\/em> magazine listed her as “one of the most productive people.” Here is her first secret to great productivity:<\/p>\n “I’m a huge procrastinator and a fairly lazy person. Being lazy makes me more efficient, because I try to find ways that I can do the best work in the most minimal amount of time. I also know that I need pressure to perform, and procrastination is one of the levers for creating that pressure.”<\/p>\n I don’t make this stuff up. No one could.<\/p>\n Frightening Halloween costumes from Florida<\/strong><\/span><\/p>\n<\/a><\/p>\n\n
\n
\n
\n
\n<\/strong>Average path of S&P 500 during bull market corrections and 10% drawdowns leading to bear markets<\/p>\n<\/a><\/p>\n<\/a><\/p>\n
\n<\/span><\/span><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a>
\nHeaded to an Early Bird Dinner at 4:30 PM with coupons in their pocket? Nothing could be more frightening.<\/p>\n