The market plunged at the open, down more than 120 points, only to snooze the remainder of the day, quietly drifting higher–led by old man stocks. I spent the better part of my day stuck inside of the dealership, repairing a flat tire. As I type this on my laptop, I see the keyboard isn’t working as it should, so I will be making an appointment at the local Apple store shortly.
Speaking of Apple: it is Wall Street’s piggy bank, once again. No one is concerned with the lack of innovation anymore, because Samsung seems to have stalled themselves. What we are left with is a commoditized company, with a dominant market position and cash reserves that make the US government jealous.
All of my peers are keenly interested in the Ira Sohn conference today, a charitable event where narcissistic hedge fund managers get to aggrandize themselves, all for the sake of charity.
I couldn’t care less, truly.
Into the bell, I have some up stocks, some down, nothing too exciting. I will look to invest the rest of my cash this week, completing my journey from degenerate stock gambler to a person with a reasonable portfolio of stocks that can be expected to preserve my capital, if nothing else.
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Dr. Fly, I live in the pothole capitol of the USA, and am appalled at the number of mostly female drivers that make zero attempts to dodge them. If their husbands could only see the way they drive, privileges would be revoked. Is there any way you might blame your tire on Mrs.Fly? It might be a constructive exercise… http://tucsonpotholes.wordpress.com/
It was a nail and I must’ve ran over it.
You’re a good husband.
“cash reserves that make the US government jealous.”
The gov’t has plans to get some of that cash, possibly by making Apple repatriate some of it so it can be taxed.
Your pal, Jim Cramer, spent the opening on his show enumerating the crappy things facing the market both nationally and internationally. He concluded by saying it wasn’t enough to make him sell but it wasn’t great for stocks either. I think this is the proverbial wall of worry and hope people who sell in May and go away end up taking the gas pipe.