You can probably flip a coin and attain greater accuracy in predicting the markets over the next week. But let’s not forget THE JANUARY EFFECT and the psychological toil it takes on money managers. To start out the New Year in disgrace is to feel like you’re climbing uphill with a rucksack of bricks attached to your person. It is never a good feeling to be behind and following the wondrous melt ups and spoiled rotten nature of markets, one can argue that the path of most pain is the path we’re forging ahead.
History is soiled with the blood of the meek who practiced a brand of hubris even the most powerful amongst us wouldn’t dare display. As I look around me, I see nothing but sub 100 IQ cro-magnons driving new whips and displaying new watches, all gotten from the great stock market melt up of the past two years.
Let it be known, when the fires come they will burn hot and long, melting those watches down to their base metals — smashing apart those new whips and casting the owners into the sewers — where they belong.
In the olden days, the rich got that way through inheritance, pluck, or ingenuity. Nowadays most get there by simply waiting around for things to happen. I am rooting for an upheaval to discredit these rascals — sending them back to their housing tenements living off Mac n Cheese balls deep fried.
Speaking of losses, I took yet another L today. YTD, my record is perfect.
TVIX -11.9%
AXGN -3.8%
PPC -4.4%
SQ -5.5%
neauveau riche. happens every cycle and those relying on hefty incomes don’t respond well to downturns. the folks who have money and assets learned long ago to live below their means at all times.
The folks who have money and assets learned long ago that lobbyists are more cost effective than any other form of investment.
https://www.salon.com/2020/01/01/trump-administration-is-quietly-gutting-tax-law-to-give-big-new-breaks-to-corporations/
Of course, when you have Ross, Trump, Mnuchin in the cabinet, you don’t even have to spend money lobbying for 1% interests.