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I know, I know… I’ve claimed “I’m busy” many times to you but I will do so once again. I am truly burning the candle at both ends, Breitbart-style, and it’s going to have to stop. I may have to take a leave of absence until I can get some of these deals through the chute over the next couple of months. Work is literally coming through the door at an unprecedented pace, and it’s beginning to get slightly out of hand. I’m not sure if it’s Obama Panic or Demographic Destiny, but people who own quality companies are throwing their hands up and saying “get me out” like a pack of dachshunds in a Pringles cannery. It’s never been like this in my memory, and most of my career has taken place in the warm sun of a bull market.
But it’s not like a bull market selling environment, despite the hefty buyers interest out there. The shareholders’ optimism is no longer there. Instead of my having to fight clients into viewing business as a cycle and not a permanent slope to heaven, now I have to “sell, sell, sell!” like Cramer on airplane glue, because the end is near, and it’s awful to behold.
I’m not going to complain, truly as there are many many buyers with cash out there — also more than I’ve ever seen. Until that pool attenuates my job is easier than it has been in the past, despite the macroeconomic conditions. It’s even fun. I just hope I can make it through to the finish on all of it….
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But on the stock side, I’m munching a Prosperity Sandwich, while waiting to see if my $HUI resolves itself here. So far, the silver precious has held up decently, even as the dollar has rebounded back above $79. In the meantime, the $HUI stays in it’s channel (and will do so even below $500), and perhaps touches the lower edge again. Remains to be seen. I’m doing nothing, and I’ve still got 40% of my cash to throw at something, or maybe nothing. It’s nice to have opportunities…
Let’s keep our eyes open. If the dollar cranks any higher, it could have ill effect on our miners. Below $490 on the $HUI could be time to retract, and perhaps even edge. Eyes front, and on the road.
Best to you all.
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Barron’s did a good report on tax planning for the expectation of rising capital gains taxes and most tax planners advised selling summer homes and businesses this year as though tax reform is a sure thing and CG rates will be higher in 2013. That would be a first … for both parties to agree on major legislation and pass it by year end … Wow!
But that explains the action you’ve described above … Good Times!!!
We had a bigger effect from that in 2010, when Congress hadn’t cried wolf so many times, but that’s certainly part of the reason.
If anything, however, its more a universal “gettin’ while the gettin’s good” ethic.
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Bush tax rates set to expire at the end of the year. Seems like a rational move for people wanting to cash out.
See above.
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Tax Sunsets and “Robbing by the Hoods” (http://goo.gl/u8YMk). Disgust. Democrats stealing from the aging middle class. Hopefully their offspring aren’t too high on Hopium at the ballot box.
well,looks as though the almighty buck decided to get it’s wnr on today….killin all the metals.
It’s heading right to that resistance level I pointed out last week on the daily chart ($79.80 or so)… today will tell the tale.
I think we’re due at least a bounce on the $HUI, but we’ll see.
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Jake, do you need any help? I have a thorough understanding of every aspect of financial statements to include the intricacies of the balance sheet. Pro bono financial consultant to several friends. Tithe in good years. I am enamored of my family, cycling, playing guitar badly , and irreverence. I have beed banned by The Fly for a snarky comment.
Impressive credentials
We just hired a new guy, but you never know… where are you located?
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CT
Jake, my views on the election. What d’ya think?
If you want to vote for Mitt Romney, vote for Obama (Obama is the centrist that Mitt represents but will never be if he’s elected).
If you want to vote for Obama, vote for Santorum.
If you want if you want Santorum… this one stumps me!
I think you’ve been hitting the pipe again.
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I know it’s tough for you this election year, but no need to be so humorless.
chortle.
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Oh, I got it. If you want Santorum: move to a West bank settlement;)!
I wouldn’t mind Santorum, especially over the Zero (anybody but), but Santorum cannot win, because he annoys even me.
Plus, I think he’s sort of Huckabee-esque in that I think he’s kind of a closet statist who covers that with the social issues.
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Thanks Jake. I’d like to know your thought toward AG and PBR, especially price target to pick up.
Added to EXK @ $9.49 and bot TC @ $6.91
PPT is the place to be.
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