I had a really tough ride this morning (according to my workhorse guide Andreas), but I had no problem with it.
There was a 500 meters pitch of 17.5 grade climb that would normally force me off my bike but not today.
Yesterday I mentioned I was not really seeing things clearly and today things seem a little more clear.
Right now I am in the back row of seats writing this blog post from my laptop off my iPhone’s wifi headed to Forte De Marmi with Ellen and my good friends the Traub’s for the afternoon.
Yesterday I mentioned it was probably an OK time to buy some stocks if you look one year out.
Today, Xi Jinping has decided that he has bought enough Chinese stocks from everyone else that he could endorse buying them. I hate to be this cynical but Xi Jinping is like The Fed plus Goldman plus plus plus all in one.
All this kind of makes sense because my friend Michael wrote ‘Nobody Is Bullish‘ the other day. It is an excellent post.
A lot of new investors from 2020 and 2021 have really been hammered in technology and meme stocks.
The market gave them their initiation. That had to happen.
The next bull market will not look like the last bull market.
We are a lot closer to the next technology bull market because of the current meltdown. For that I am excited.
As Charlie says so well here ‘You Can’t Buy Past Returns‘. Please read it, especially you Cathie Woods disciples.
While the ‘yoots’ were buying meme stocks and the flashy ecommerce and cloud stocks (I am guilty of some of this myself), railroads, tinfoil and oil have had an incredible bull market run. I imagine if this persists much longer and growth continues to be hated, we will get a growth turn.
Let’s not forget the market loves to climb a ‘wall of worry’ and there is a pile of things happening around the world to be worried about right now.
Have a great day.
