So?<\/p>\n
Sell some stocks and …<\/p>\n
+ Take some cash home. Cash is useful when we have lower stock prices. Coming soon!<\/p>\n
+ Rebalance your portfolio back to 60%\/40% stocks\/bonds. \u00a0With the rise in stock prices, your allocation is probably up to 80\/20 today.<\/p>\n
+ Find something else. What might that be? Wall Street is now in full creative fervor. Private Wealth Management has emerged as Wall Street’s most lucrative business. That typically means creating a fund or product that will tie your client’s money up for as long as possible. That maximizes fees.<\/p>\n
Clearly, the best advice is caution. Follow the adage, “When in Doubt, Stay Out.<\/em>“<\/p>\n A reader and friend, keen for a little more income, sent me \u00a0a pitch for the Marketsafe Emerging Currencies CD.<\/p>\n If the currencies appreciate, you benefit. If they don’t, you get your money back.<\/p>\n I’ve seen these before. They tend to work out well for the insiders in the bank or institution, but not for the clients.<\/p>\n Seriously, who wants to bet on this desultory collection of countries — Brazil, Indonesia, India and Turkey. Yuch! China has its charms, but likes to keep its currency depressed, to benefit its export business. \u00a0And then there’s the seven times leverage. Figure a $1000 investment. You pony up $125. and borrow $875. What could possibly go wrong?<\/p>\n I’d rather play tennis.<\/p>\n Of course, there are other choices you could pursue. A friend daytrades a handful of stocks whose movement he has studied over several months. Studying charts for months for patterns gives boredom a whole new meaning — unless that’s your schtick. It’s his and he’s good at it. I’d rather play tennis.<\/p>\n Today’s New York Times has a story on a daytrader who’s turned $500,000 into $12 million by daytrading the VIX. The story is called “Day Trading in Wall Street’s Complex `Fear Gauge’ Proliferates.”<\/em><\/p>\n The story begins:<\/p>\n Each morning, at the market’s open, Seth M. Golden, a former logistics manager at a Target store, fires up the computer in his home office in northern Florida and does what he has done for years: Put on bets that Wall Street’s index of volatility, the VIX, will keep falling.<\/p>\n It has been a lucrative strategy as the so-called fear gauge has been, outside of the occasional spike, largely fearless – confounding experts by sloping persistently downward and in the process making Mr. Golden a multimillionaire.<\/p>\n “There has been a lot of white noise,” said Mr. Golden last Tuesday on a day that the VIX plummeted more than 10 percent, allowing him to lock in profits from short trades. “You had North Korea, Afghanistan, Trump people resigning. But I was never nervous – so today I just sat back, ate some popcorn and cashed in my profits.”<\/p>\n You can read the full, fascinating story here.<\/a>\u00a0<\/strong><\/span><\/p>\n \u00a0As with all things investing, knowledge and study pay.<\/p>\n It’s far too easy to jump in. And far too difficult to get out.<\/p>\n When in doubt, stay out.<\/p>\n Morgan Stanley’s insurers to be hurt by Hurricane Harvey.<\/strong><\/span><\/p>\n Here are the insurers that stand to lose the most from Hurricane Harvey: ALL, TRV, HIG, PGR, and BRKA and BRKB.<\/p>\n These companies will probably drop, then bounce back. I own TRV and BRKA and am sticking with them.<\/p>\n Read more here.<\/strong><\/a><\/p>\n I bought a Canon color printer.<\/strong><\/span><\/p>\n It prints color photos brilliantly. It cost under $100. BUT… paper and toner are eating me alive.<\/p>\n Lesson:<\/strong> Pick a good online printer — e.g. MPIX — and send your photos there. Much cheaper. Less fiddly. Turnaround time is pretty good.<\/p>\n An insanely funny idea.<\/strong><\/span><\/p>\n Valerie Plame wants to buy Twitter and shut down Trump. She’s trying to crowd-source $1 billion. She a bit short. Like nearly $1 billion short.<\/p>\n Don’t Do Stupid.<\/strong><\/span><\/p>\n 2. She won three-quarters of a billion dollars in the lottery.\u00a0<\/strong><\/span>Time to put your money in a trust, and not tell anyone it was you. But she told the world.<\/p>\n The US Tennis Open started yesterday<\/strong><\/span><\/p>\n You can watch it on all the usual suspects — ESPN, ESPN3,\u00a0and the Tennis Channel, but mostly on ESPN.<\/p>\n The full TV schedule is here.<\/strong><\/a><\/p>\n You can also download the free app:<\/p>\n It will tell you who’s playing, who played and how much they’re earning.<\/p>\n Roger Federer’s career prize money is $107,780,560. I’m guesssing he’s earned at least that in endorsements from the likes of Nike, Mercedes, Rolex, etc.<\/p>\n Wonderful T-Shirts<\/strong><\/span><\/p>\n![\"Everbank\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2017\/08\/Everbank.jpg\")
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