{"id":33356,"date":"2015-12-09T09:58:00","date_gmt":"2015-12-09T14:58:00","guid":{"rendered":"http:\/\/www.technologyinvestor.com\/?p=33356"},"modified":"2015-12-09T09:58:00","modified_gmt":"2015-12-09T14:58:00","slug":"why-were-we-so-stupid","status":"publish","type":"post","link":"https:\/\/www.technologyinvestor.com\/?p=33356","title":{"rendered":"Why were we so stupid?"},"content":{"rendered":"

When I saw oil, copper, iron ore, etc. cratering, why — oh why — didn’t I sell these guys short?<\/p>\n

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

\"XOMONeYear\"<\/a> \"RioYTD\"<\/a> \"BHPTwoYear\"<\/a><\/p>\n

Who knew for the ensuing devastation?<\/p>\n

On June 30, 2014, oil was $105.37 a barrel.<\/div>\n
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It’s now under $40, going to $20 according to Goldman Sachs.<\/div>\n
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Anglo American is one of the world’s largest miners. It just announced 85,000 of its 135,000 employees will lose their jobs. That’s 63% of its entire workforce. I repeat 63%.<\/span><\/span><\/div>\n
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Other sectors have been hit, e.g. LADR which I lost a great deal of money on by buying it on its IPO at $17. (I’m out.)<\/div>\n
\"LADYOneYear\"<\/a><\/div>\n
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Much finance has suffered, e.g.<\/div>\n
\"BXOneyear\"<\/a><\/div>\n
But I was lucky to snag some BX recently at $29.51 — the result of an ultra low bid I put in when the stock was much higher.<\/div>\n
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There is good news — of sorts. Friends en mass are bailing from stocks. They’re selling everything — except their index funds. They’re selling their individual stocks. “Too hard to make it with individual stocks” they’re telling me.<\/div>\n
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One told this morning he’d just lost $100,000 in his IRA. He wasn’t looking. One day, the money was gone.<\/div>\n
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Either you look or you place sell limit orders and get out when you’re not looking — when they crater further.<\/div>\n
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The Internet and biotech\/pharma are where we probably need to be.<\/div>\n
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But it’s really hard.<\/div>\n
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As my mentor, Todd says, “When in doubt, stay out<\/strong><\/em>.”<\/div>\n

Nothing like this have ever happened before.<\/strong><\/span> I’m talking Amazon.<\/p>\n

True story: I need a new washer for a leaking faucet. Nothing special. Standard faucet. Standard 10 cent washer. Our local hardware store Gracious Home doesn’t have it. Lowe’s doesn’t have it. I’m mean, we’re talking a standard washer for a standard faucet. But guess who has it? Amazon!<\/p>\n

My God, they got everything. I check with my friends. They’ve given up on bricks and mortar retail. Their first choice is Amazon. And they always get what they want.<\/p>\n

Why didn’t I load the boat up on Amazon at $300? Look at it over the last year.<\/p>\n

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

What is happiness? <\/strong><\/span>GQ magazine just did a cover story on my favorite Taylor Swift, one of America’s top performers, who earned around $100 million this year. That’s better than all my friends on Wall Street. Eat your hearts out, guys.<\/p>\n

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

The story ends with this quote from her on a subject we all wrestle with:<\/p>\n

“After ten years, you learn to appreciate happiness when it happens, and that happiness is rare and fleeting, and that you’re not entitled to it.<\/p>\n

You know, during the first few years of your career, the only thing anyone says to you is `Enjoy this. Just enjoy this.’ That’s all they ever tell you. I finally know how to do that.”<\/p>\n

The reporter ends the story with “Taylor Swift is 25. But she’s older than you.”<\/p>\n

You can watch her music videos on YouTube. These two are my favorites: Shake it off<\/strong><\/a> (1.2 billion views) and Blank Space<\/strong> <\/a>(1.3 billion views). Yes, that’s billion.<\/p>\n

It’s warm. It’s dry. My fingers are cracking from tennis.<\/strong><\/span> I have three weapons. These are the best:<\/p>\n

\"newskin\"<\/a> \"Nexcare\"<\/a> \"chaptstick\"<\/a><\/p>\n

Sad commentaries on life<\/strong><\/span><\/p>\n

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

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

Symptoms of old age<\/strong><\/span><\/p>\n

Frenchman says: I am thirsty, I must have wine.<\/p>\n

American says: I am thirsty, I must have Coke.<\/p>\n

Russian says: I am thirsty, I must have vodka.<\/p>\n

German says: I am thirsty, I must have beer.<\/p>\n

Englishman says: I am thirsty, I must have tea.<\/p>\n

Jew says: I am thirsty, I must have diabetes.<\/p>\n

Irish “humor”<\/strong><\/span><\/p>\n

PADDY… “If you can guess how many chooks (chickens) I have in my bag, you can have both of them.”<\/span><\/p>\n

“Three,” … replied Shaun.<\/span><\/p>\n

\"HarryNewton\"<\/a>
\nHarry Newton who eyed the theater crowd last night and noted: Infirm, stooping and overweight. I’m guessing most were younger than me. Heh guys, just because you have a little money doesn’t mean you can ignore your body.<\/p>\n