90% Cash, Sitting in the Tall Grass Waiting for Meat

The easy kills have been made in biotech. Let SAGE be a stark reminder to all of you. Tomorrow isn’t promised, even though you’re presently living in the halcyon days for investors — a period in time when financial engineering ruled over markets. People slaughtered and cast out into the cold to make way for efficinecies — auto-this and auto-that — paving the way for greater earnings which are then used to reduce the amount of shares outstanding to produce nothing at all but more profits. And the cycle continues. Meanwhile, all of the good paying jobs are in coastal cities, denizens of ill repute — beleaguered by expensive real estate and food — which is the result of a top 1% of income earners doing very well. Very well indeed.

At the core of all this inequity is the Fed, shoveling their cheap money into the coal powered fires. It’s easy to sit here and critique when the alternative is desperation and the end of everything we hold sanctimonoous. But just know this, as you sit there bridled by your gains and luxurious settings, nothing is evergreen but death and change. What is good now will sour tomorrow. The march is civilization is noisy in the present but silent from afar. I suspect it’s natural for me to believe it’s going to end soon, the bull market, due to my internal desire for my own life to mean something. But there truth laid bare is easier to understand, harder to digest. No one cares about your existence more than you — so be mindful of that and be mindful of the fact that bull markets can last a very long time — much longer than you think.

For now, I wait, 90% cash.