The Market Desperately Needs New Leadership

We can’t keep recycling old leaders and expect them to lead us to the promise land. For the past year or so, biotechs have led the charge. The only problem with biotechs, as I’ve stated here over and over again, is that they’re fantasy. The only reason why they gained so much, similar to the dot coms of yesteryear going up on page view data, was because they were shrouded in mystery.

Here are the gainers over the past week.

Most of the above names are biotech. A novice investor sees that and piles into CLVS, before today’s annihilation, and his investment career is seelingly over in a blink of an eye.

If this market is ever going to become healthy again, it needs real leadership, in real companies that produce real profits, not imaginary 2025 horseshit projections.

Some ideas that come to mind: banks, especially the regionals.

Since China is dead, the industrials and commodity complexes are dead, as evidenced by today’s drop in copper, pushing it to 2009 lows.

What about the homebuilders?

I realize hipsters prefer to live out of garbage cans; but with the dollar strong and our economy stable, one might surmise the real estate boom that is live in most U.S. metropolis’ will expand into secondary and third tier cities.

Or, the reason why I am pulling for staws, trying to find a knight in shining armor, the sector to save all sectors, is because there isn’t one. We’re fucking doomed. Nothing can be done. And, that’s all there is to it.

NOTE: Last call for iBC Conference Online. It starts tonight!